Civic Intelligence

Sibi Foundation

990 • Fiscal year 2021 • EIN 26-3204092

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 16, 2023

Organization ProfileSIBI.CC/FOUNDATION
3723 34th StreetLubbock, TX 79410

(806) 788-3242

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$22,655,388

Up $5,136,070 (+29%) from 2020

Net Assets

Up

$22,655,388

Up $5,215,382 (+30%) from 2020

Liabilities

Down

$0

Down $79,312 (-100%) from 2020

Revenue And Expenses

Revenue

Up

$5,230,738

Up $1,174,846 (+29%) from 2020

Expenses

Down

$92,948

Down $520,148 (-85%) from 2020

Net Income

Up

$5,137,790

Up $1,694,994 (+49%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2012: $0Net Assets 2012: $02012Assets 2013: $7,084,421Liabilities 2013: $0Net Assets 2013: $7,084,4212013Assets 2014: $6,996,006Liabilities 2014: $15,670Net Assets 2014: $6,980,3362014Assets 2016: $7,188,285Liabilities 2016: $51,731Net Assets 2016: $7,136,5542016Assets 2017: $10,523,640Liabilities 2017: $52,180Net Assets 2017: $10,471,4602017Assets 2019: $14,080,005Liabilities 2019: $82,795Net Assets 2019: $13,997,2102019Assets 2020: $17,519,318Liabilities 2020: $79,312Net Assets 2020: $17,440,0062020Assets 2021: $22,658,439Liabilities 2021: $314,909Net Assets 2021: $22,343,5302021Assets 2021: $22,655,388Liabilities 2021: $0Net Assets 2021: $22,655,3882021Assets 2022: $22,325,974Liabilities 2022: $0Net Assets 2022: $22,325,9742022Assets 2024: $29,165,924Liabilities 2024: $36,700Net Assets 2024: $29,129,2242024

Highlighted filing

2021

Assets$22,655,388
Liabilities$0
Net Assets$22,655,388
Open 2021 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2012: $02012Revenue 2013: $7,084,421Expenses 2013: $0Net Income 2013: $7,084,4212013Revenue 2014: $206,624Expenses 2014: $310,709Net Income 2014: -$104,0852014Revenue 2016: $837,400Expenses 2016: $373,893Net Income 2016: $463,5072016Revenue 2017: $3,817,817Expenses 2017: $482,911Net Income 2017: $3,334,9062017Revenue 2019: $3,308,531Expenses 2019: $501,985Net Income 2019: $2,806,5462019Revenue 2020: $4,055,892Expenses 2020: $613,096Net Income 2020: $3,442,7962020Revenue 2021: $3,935,219Expenses 2021: $812,635Net Income 2021: $3,122,5842021Revenue 2021: $5,230,738Expenses 2021: $92,948Net Income 2021: $5,137,7902021Revenue 2022: $3,423,400Expenses 2022: $993,684Net Income 2022: $2,429,7162022Revenue 2024: $2,357,099Expenses 2024: $1,275,233Net Income 2024: $1,081,8662024

Highlighted filing

2021

Revenue$5,230,738
Expenses$92,948
Net Income$5,137,790
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 16, 2023
Return Version
2021v4.2
Gross Receipts
$5,230,738
Mission and Program Overview

Mission

SIBI Foundation solely supports the activities and missions of Sunset International Bible Institute, Inc.

Sibi foundation solely supports the activities and missions of sunset international bible institute, inc

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$17,474,157$22,571,561▲ $5,097,404
Cash and Non-Interest-Bearing Accounts$43,441$83,827▲ $40,386
Total Assets$17,517,598$22,655,388▲ $5,137,790
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,993,338$21,131,128▲ $5,137,790
Net Assets With Donor Restrictions$1,524,260$1,524,260→ $0
Total Net Assets Fund Balance$17,517,598$22,655,388▲ $5,137,790
Total Liabilities and Net Assets / Fund Balance$17,517,598$22,655,388▲ $5,137,790

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$1,524,260---$1,524,260
2020$1,524,260---$1,524,260
2019$1,524,260---$1,524,260
2018$1,524,260---$1,524,260
2017$1,524,260---$1,524,260
Compensation and Service Providers

Board Members and Trustees

NameTitle
Truitt AdairPresident
Scott CollierVice President
Chris RaneyDirector
Don BrownDirector
Gene McguireDirector
Jay ReynoldsDirector
Kenzel MayDirector
Sam HawthorneDirector
Sean McnielSecretary
Steve CrockettTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,621,918
Program Service Revenue
$0
Investment Income
$2,608,820
Other Revenue
$0
All Other Contributions
$355,345
Change in Net Assets
$5,137,790
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$92,948
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$75,000-$75,000
Fees for Services Other-$14,484-$14,484
Insurance-$2,052-$2,052
Information Technology-$1,366-$1,366
Travel-$25-$25
Fees for Services Accounting-$21-$21
Total Functional Expenses$0$92,948$0$92,948
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Each year, the sibi foundation president and treausurer, along with the treasurer of the supported organization, sunset international bible institute, inc., review the form 990 for accuracy and completeness prior to its filing.”

Form 990, Part VI, Section C, Line 18

“SEE SCHEDULE O”

Form 990, Part VI, Section C, Line 19

“No other documents available to the public”

Filing and Contact Details

Filer

Filer Name
Sibi Foundation
EIN
26-3204092
Phone
8067883242
Address
3723 34TH STREET, LUBBOCK, TX 79410

Signing Officer

Name
Truitt Adair
Title
President
Phone
8067883242
Signed
2023-08-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Truitt Adair
Formed
2011
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
2

Preparer

Firm
Carr Riggs & Ingram LLC
Address
2403 82ND STREET, LUBBOCK, TX 79423
Preparer
Jimmy D Pendergrass
Phone
8067456789
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Section B

“Amending return due to audited financial statements completed after original filing of return, which was filed before the extended due date. Amendments include the removal of the annuity payable of $314,909, decreasing the intercompany revenue of $732,427 along with the removal of the intercompany expenses of $732,427, and increasing the contributions without donor restrictions by $314,045.”

Form 990, Part IX, Line 11G

“Annuity expense: program service expenses 0. Management and general expenses 3,796. Fundraising expenses 0. Total expenses 3,796. Annual annuity payments: program service expenses 0. Management and general expenses 10,688. Fundraising expenses 0. Total expenses 10,688.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AMENDING RETURN DUE TO AUDITED FINANCIAL STATEMENTS COMPLETED AFTER ORIGINAL FILING OF RETURN, WHICH WAS FILED BEFORE THE EXTENDED DUE DATE. AMENDMENTS INCLUDE THE REMOVAL OF THE ANNUITY PAYABLE OF $314,909, DECREASING THE INTERCOMPANY REVENUE OF $732,427 ALONG WITH THE REMOVAL OF THE INTERCOMPANY EXPENSES OF $732,427, AND INCREASING THE CONTRIBUTIONS WITHOUT DONOR RESTRICTIONS BY $314,045.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH YEAR, THE SIBI FOUNDATION PRESIDENT AND TREAUSURER, ALONG WITH THE TREASURER OF THE SUPPORTED ORGANIZATION, SUNSET INTERNATIONAL BIBLE INSTITUTE, INC., REVIEW THE FORM 990 FOR ACCURACY AND COMPLETENESS PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SEE SCHEDULE O
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO OTHER DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANNUITY EXPENSE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,796. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,796. ANNUAL ANNUITY PAYMENTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 10,688. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,688.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, SECTION B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SUNSET INTERNATIONAL BIBLE INSTITUTE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0751853709
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RELIGIOUS SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt03723 34TH ST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0LUBBOCK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd079410
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt017517598
IRS990/TotalAssetsEOYAmt022655388
IRS990/TotalAssetsGrp/BOYAmt017517598
IRS990/TotalAssetsGrp/EOYAmt022655388
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02621918
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt092948
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt092948
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt017517598
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt022655388
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt092948
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02608820
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05230738
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt017517598
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt022655388
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt025
IRS990/TravelGrp/TotalAmt025
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/USAddress/AddressLine1Txt03723 34TH STREET
IRS990/USAddress/CityNm0LUBBOCK
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd079410
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0SIBI.CC/FOUNDATION
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TRUITT ADAIR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08067883242
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SIBI FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0SIBI
ReturnHeader/Filer/EIN0263204092
ReturnHeader/Filer/PhoneNum08067883242
ReturnHeader/Filer/USAddress/AddressLine1Txt03723 34TH STREET
ReturnHeader/Filer/USAddress/CityNm0LUBBOCK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd079410
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0721396621
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CARR RIGGS & INGRAM LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02403 82ND STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LUBBOCK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd079423
ReturnHeader/PreparerPersonGrp/PhoneNum08067456789
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JIMMY D PENDERGRASS
ReturnHeader/ReturnTs02023-08-17T15:08:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TRUITT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ADAIR
ReturnHeader/TaxPeriodBeginDt02021-01-01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$22,655,388
Liabilities
$0
Net assets
$22,655,388
Revenue
$5,230,738
Expenses
$92,948
Net income
$5,137,790
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.2$0.04$29.1$2.36$1.28$1.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.3$0.00$22.3$3.42$0.99$2.43
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.7$0.31$22.3$3.94$0.81$3.12
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.7$0.00$22.7$5.23$0.09$5.14
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.5$0.08$17.4$4.06$0.61$3.44
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.1$0.08$14.0$3.31$0.50$2.81
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.5$0.05$10.5$3.82$0.48$3.33
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.19$0.05$7.14$0.84$0.37$0.46
2014Detailed filing. Detailed filing data is available for this year.$7.00$0.02$6.98$0.21$0.31$0.10
2013Detailed filing. Detailed filing data is available for this year.$7.08$0.00$7.08$7.08$0.00$7.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • $10M-$25M nonprofits