Nonprofit · EIN 99-1169421
IBG FOUNDATION INC
Tax-exempt · NEW YORK, NY 10020
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $466,348 | $39,389 | $426,959 | $426,959 | $0 | $426,959 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $466,199
- Program service revenue
- $0
- Investment income
- $149
- Net gain from sales of assets
- $86
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $27,929
- Other salaries and wages
- $1,675
- Salaries, compensation and benefits (total)
- $1,675
- Professional fundraising fees
- $0
- Legal fees
- $8,242
- Program services (functional)
- $29,861
- Management and general (functional)
- $9,528
Balance sheet and other
- Total assets, start of year
- $0
- Total assets, end of year
- $426,959
- Total liabilities, end of year
- $0
- Net assets, end of year
- $426,959
- Net assets without donor restrictions
- $426,959
- Gross receipts
- $481,547
- Employees
- 0
- Volunteers
- 3
- Year formed
- 2024
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THOMAS IOVINO | PRESIDENT Trustee or director | 0.25 | $0 |
| GENE BERNSTEIN | SECRETARY Trustee or director | 0.25 | $0 |
| MICHAEL GRAFF | TREASURER Trustee or director | 0.25 | $0 |
Address and contacts
- Address (IRS master file)
- 1 ROCKEFELLER PLZ STE 2803, NEW YORK, NY 10020-2064
- Principal officer (990 for 2024)
- THOMAS IOVINO, 1 ROCKEFELLER PLAZA 2803, NEW YORK, NY 10020
- Signed the 990
- THOMAS IOVINO, PRESIDENT
- Phone
- (516) 495-5755
- Return prepared by
- GRASSI & CO CPA'S PC
Mission
THE FOUNDATION'S MISSION IS TO PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS AND FAMILIES FACING SERIOUS ILLNESSES. IT COVERS MEDICAL AND LIVING COSTS DURING TREATMENTS, SURGERIES, AND RECOVERY, AND OFFERS MONETARY AWARDS FOR FUNERAL-RELATED EXPENSES. THE NONPROFIT ALSO GRANTS EDUCATIONAL SCHOLARSHIPS TO THOSE PURSUING CAREER ADVANCEMENT, COVERING COSTS FOR ATTENDING FOUR-YEAR AND TWO-YEAR COLLEGES, TRADE AND VOCATIONAL SCHOOLS, CERTIFICATIONS, AND OTHER EDUCATIONAL OPPORTUNITIES. THE MAIN TARGET FOR THE SCHOLARSHIPS IS SECONDARY STUDENTS NEARING GRADUATION, ALTHOUGH OTHERS CAN APPLY.
Program accomplishments
- DURING 2024, THE IBG FOUNDATION PROVIDED FINANCIAL AWARDS TO INDIVIDUALS STRUGGLING WITH LIVING AND MEDICAL EXPENSES DUE TO SERIOUS ILLNESS. ADDITIONALLY, THE ORGANIZATION PAID FUNERAL EXPENSES FOR AN INDIVIDUAL WHO SUCCUMBED TO CANCER.Expenses $29,861 · grants $27,929
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | No data |
IRS record
- EIN
- 99-1169421
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2024
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P20)
- Assets (IRS master file)
- $426,959
- Income (IRS master file)
- $481,547
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about IBG FOUNDATION INC
- What is the EIN of IBG FOUNDATION INC?
- The employer identification number (EIN) of IBG FOUNDATION INC is 99-1169421.
- Is IBG FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2024.
- Are donations to IBG FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does IBG FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of IBG FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IBG FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of IBG FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names THOMAS IOVINO.
- Who are the officers and directors of IBG FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does IBG FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $466,348, expenses of $39,389 and total assets of $426,959 at year end.
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