Civic Intelligence

Ibu Foundation

990 • Fiscal year 2023 • EIN 27-4660946

Jun 01, 2023 to Dec 31, 2023 • Filed on Apr 29, 2025

Refreshing map…

138B King StreetCharleston, SC 29401

(843) 327-8304

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

79th percentile

0.26x

Higher debt load relative to assets than 79% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

69th percentile

0.12x

Higher debt load relative to revenue than 69% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

25th percentile

-9.0%

Higher net margin than 25% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2023

Asset Growth

92nd percentile

70%

Faster asset growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

89th percentile

79%

Faster revenue growth than 89% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Up

$285,957

Up $117,918 (+70%) from 2022

Net Assets

Up

$212,407

Up $48,533 (+30%) from 2022

Liabilities

Up

$73,550

Up $69,385 (+1666%) from 2022

Revenue

Up

$611,637

Up $270,157 (+79%) from 2022

Expenses

Up

$666,876

Up $392,203 (+143%) from 2022

Net Income

Down

-$55,239

Down $122,046 (-183%) from 2022

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2020: $187,884Liabilities 2020: $0Net Assets 2020: $187,8842020Assets 2021: $112,732Liabilities 2021: $4,165Net Assets 2021: $108,5672021Assets 2022: $168,039Liabilities 2022: $4,165Net Assets 2022: $163,8742022Assets 2023: $285,957Liabilities 2023: $73,550Net Assets 2023: $212,4072023Assets 2024: $187,116Liabilities 2024: $44,072Net Assets 2024: $143,0442024

Highlighted filing

2023

Assets$285,957
Liabilities$73,550
Net Assets$212,407

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2020: $245,043Expenses 2020: $140,441Net Income 2020: $104,6022020Revenue 2021: $122,841Expenses 2021: $202,158Net Income 2021: -$79,3172021Revenue 2022: $341,480Expenses 2022: $274,673Net Income 2022: $66,8072022Revenue 2023: $611,637Expenses 2023: $666,876Net Income 2023: -$55,2392023Revenue 2024: $913,333Expenses 2024: $1,012,696Net Income 2024: -$99,3632024

Highlighted filing

2023

Revenue$611,637
Expenses$666,876
Net Income-$55,239
Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to Dec 31, 2023
Signed
Apr 29, 2025
Return Version
2023v6.0
Gross Receipts
$983,618
Mission and Program Overview

Mission

IBU Foundation provides female artisans access to the tools and training needed to enhance their craftsmanship and become economically self-sufficient.

IBU Foundation provides female artisans with tools and training needed to enhance their craft and rise out of poverty and into successful artisan enterprise.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$455,357$0▼ $455,357
Cash and Non-Interest-Bearing Accounts$413,224$285,957▼ $127,267
Rtn Earn Endowment Incm Other Fnds$-201,702$212,407▲ $414,109
Land, Buildings, and Equipment, Net$616$0▼ $616
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities$0--
Investments Program Related$0--
Total Assets$413,980$285,957▼ $128,023
Other Assets Total$140$0▼ $140
Liabilities
Deferred Revenue$116,500$47,250▼ $69,250
Accounts Payable and Accrued Expenses$43,825$26,300▼ $17,525
Other Liabilities$0$0→ $0
Total Liabilities$615,682$73,550▼ $542,132
Net Assets / Fund Balance
Total Net Assets Fund Balance$-201,702$212,407▲ $414,109
Total Liabilities and Net Assets / Fund Balance$413,980$285,957▼ $128,023
Compensation and Service Providers

Employees

NameTitleBaseTotal
Susan WalkerBoard Member$81,026$81,026

Board Members and Trustees

NameTitle
Austin WalkerChairman
Amanda FlynnBoard Member
Stephanie HuntBoard Member
Sandra SmithSecretary
Monica SeegerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$617,500
Program Service Revenue
$18,824
Investment Income
$691
Other Revenue
$-25,378
All Other Contributions
$617,500
Change in Net Assets
$-55,239
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$277,330
Grants and Similar Amounts Paid$224,278
Total Fundraising Expense$176,629
Other Expenses$165,268
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$224,278--$224,278
Other Salaries and Wages$42,280$9,529$52,875$104,684
Payroll Taxes$36,560$8,239$45,722$90,521
Current Officers, Directors, Trustees, and Key Employees$32,725$7,375$40,926$81,026
Occupancy$10,829$15,029$10,829$36,687
Travel$31,145-$3,461$34,606
Advertising$19,906-$5,542$25,448
Office Expenses$658$9,363-$10,021
Information Technology-$2,316$6,842$9,158
Fees for Services Accounting-$5,748$1,150$6,898
Fees for Services Legal$3,145$3,145-$6,290
Other Expenses$4,330-$6,478$4,330
Insurance$1,008$2,034$533$3,575
Fees for Services Other$552$133$704$1,389
All Other Expenses$0$127$1,010$1,137
Other Employee Benefits$437$105$557$1,099
Total Functional Expenses$427,104$63,143$176,629$666,876
International Activity

International Summary

Offices
0
Employees
0
Spending
$224,278

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaGrant DistributionsGrant Distributions00$159,728
Middle East and North AfricaGrant DistributionsGrant Distributions00$40,000
Sub-Saharan AfricaGrant DistributionsGrant Distributions00$23,500
Russia and Neighboring StatesGrant DistributionsGrant Distributions00$1,050
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$13,446
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$455,357$0▼ $455,357
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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, Line 11B Review of form 990 by governing body

Form 990 is emailed to the Board President who then reviews it with the Board.

Form 990, Part VI, Line 19 Required documents available to the public

Governing documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
IBU Foundation
EIN
27-4660946
Phone
8433278304
Address
138B KING STREET, CHARLESTON, SC 29401

Signing Officer

Name
Beth Lin
Title
Chief Executive officer
Phone
8433278304
Signed
2025-04-29
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Sc
Voting Board Members
6
Independent Board Members
6
Employees
18
Volunteers
10

Preparer

Firm
Forvis Mazars LLP
Address
500 Ridgefield Court, Asheville, NC 28806
Preparer
Jeremy Naess
Phone
8282542254
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D Description of other program services

(Expenses $ 82,726 including grants of $ 224,278) Program Service Expenses.

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Forgiveness of loan from officer - 455357;

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IRS990/ProgSrvcAccomActy3Grp/Desc0Colombiana Event: Celebrating the rich heritage and diverse culture of Colombia, Ibu brought 11 artisan leaders to Charleston, SC, from various regions to share their crafts and the incredible impact their work is making on the indigenous communities, particularly women. These artisans presented their experiences at a panel discussion on November 15 at the Charleston Library Society, moderated by Ibu Founder and Creative Director, Susan Hull Walker, to an audience of more than 100. In the evening, 100 ticket holders dined in small groups at 9 private Charleston homes, enjoying a classic Colombian meal designed by author, chef and food-stylist Mariana Velasquez, based on her publication Colombiana. Following dinner, the patrons strolled to a final destination for dessert and shopping, featuring the handmade artisan designs of the artisan groups represented.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt047419
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt084930
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Program Service Expenses.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt082726
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt0224278
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IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01038756
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IRS990/PYInvestmentIncomeAmt017
IRS990/PYOtherExpensesAmt0234592
IRS990/PYOtherRevenueAmt0-93205
IRS990/PYProgramServiceRevenueAmt078616
IRS990/PYRevenuesLessExpensesAmt0249430
IRS990/PYSalariesCompEmpBnftPaidAmt0257612
IRS990/PYTotalExpensesAmt0774754
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IRS990/PYTotalRevenueAmt01024184
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IRS990/ReconcilationRevenueExpnssAmt0-55239
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IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt01050
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
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IRS990/RevenueAmt0344550
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-201702
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0212407
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0617500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01038756
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0319076
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0233531
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02331689
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0691
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt015
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt012
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0752
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0948803
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt00
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IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.9582
IRS990ScheduleA/PublicSupportPY170Pct00.9757
IRS990ScheduleA/PublicSupportTotal170Amt02234933
IRS990ScheduleA/SubstantialContributorsTotAmt096756
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02331689
IRS990ScheduleA/TotalSupportAmt02332441
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt10
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt123500
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt240000
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt31050
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0South Asia
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1Sub-Saharan Africa
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2Middle East and North Africa
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt3Russia and Neighboring States
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2Grant Distributions
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt3Grant Distributions
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0true
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt050000
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt120000
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt240000
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt3109728
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0WIRE TRANSFER
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt1WIRE TRANSFER
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt2WIRE TRANSFER
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt3WIRE TRANSFER
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0Brick and Mortar Flagship Store
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1Tailoring Training Sessions
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt210 participants' donation portion of Jordan trip
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt3Trainings in Business and Growth, Marketing and Operations
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0South Asia
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt1Sub-Saharan Africa
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt2Middle East and North Africa
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt3South Asia
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt0224278
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0The Organization makes distributions to fulfill its exempt purpose. Distributions are made to known artisians. In addition, funding is required to be monitored as part of the grant award requirements.

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