Civic Intelligence

Ibac Corporation

EIN 84-3874964 • 501(c)3 • Elkmont, AL

Profile

Providing religious and theological training to leaders and pastors

18659 Upper Fort Hampton RdElkmont, AL 35620
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

83rd percentile

0.21x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

85th percentile

0.15x

Higher debt load relative to revenue than 85% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

56th percentile

4.9%

Higher net margin than 56% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

96th percentile

$66,300

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 14.1% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

68th percentile

10%

Faster asset growth than 68% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

77th percentile

29%

Faster revenue growth than 77% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$343,118

Up $32,056 (+10%) from 2023

Liabilities

Up

$71,174

Up $9,000 (+14%) from 2023

Net Assets

Up

$271,944

Up $23,056 (+9.3%) from 2023

Operations
Liabilities / Revenue85th percentileNet Margin56th percentile

Revenue

Up

$468,602

Up $105,339 (+29%) from 2023

Expenses

Up

$445,546

Up $145,361 (+48%) from 2023

Net Income

Down

$23,056

Down $40,022 (-63%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth68th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400K$300K$200K$100K$0Assets 2022: $205,224Liabilities 2022: $19,414Net Assets 2022: $185,8102022Assets 2023: $311,062Liabilities 2023: $62,174Net Assets 2023: $248,8882023Assets 2024: $343,118Liabilities 2024: $71,174Net Assets 2024: $271,9442024

Highlighted filing

2024

Assets$343,118
Liabilities$71,174
Net Assets$271,944
Open 2024 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0Revenue 2022: $411,045Expenses 2022: $225,169Net Income 2022: $185,8762022Revenue 2023: $363,263Expenses 2023: $300,185Net Income 2023: $63,0782023Revenue 2024: $468,602Expenses 2024: $445,546Net Income 2024: $23,0562024

Highlighted filing

2024

Revenue$468,602
Expenses$445,546
Net Income$23,056
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$343,118
Liabilities
$71,174
Net assets
$271,944
Revenue
$468,602
Expenses
$445,546
Net income
$23,056
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.43$0.71$2.72$4.69$4.46$0.23
2023Detailed filing. Detailed filing data is available for this year.$3.11$0.62$2.49$3.63$3.00$0.63
2022Detailed filing. Detailed filing data is available for this year.$2.05$0.19$1.86$4.11$2.25$1.86
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 14, 2025
Return Version
2024v5.1
Gross Receipts
$468,602
Mission and Program Overview

Mission

Providing religious and theological training to leaders and pastors

Providing religious and theological training to pastors and leaders

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$198,562$198,642▲ $80
Cash and Non-Interest-Bearing Accounts$112,500$144,476▲ $31,976
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$311,062$343,118▲ $32,056
Liabilities
Unsecured Notes Loans Payable$62,174$71,174▲ $9,000
Total Liabilities$62,174$71,174▲ $9,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$248,888$271,944▲ $23,056
Total Liabilities and Net Assets / Fund Balance$311,062$343,118▲ $32,056
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jay GrootersVice PresidentPT$66,300$66,300
Amy GrootersTreasurerPT$8,900$8,900

Board Members and Trustees

NameTitle
James L WilsonPresident
Jerry VickersSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$468,602
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$468,602
Change in Net Assets
$23,056
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$224,864
Other Expenses$220,682
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$203,327-$203,327
Travel$42,720--$42,720
Other Expenses$34,271--$34,271
Other Employee Benefits-$16,042-$16,042
Payroll Taxes-$5,495-$5,495
Total Functional Expenses$220,682$224,864$0$445,546
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
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
No
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
IBAC Corporation
EIN
84-3874964
Address
18659 Upper Fort Hampton Rd, Elkmont, AL 35620

Signing Officer

Name
Ibac
Title
Owner
Signed
2025-03-14
Discuss with paid preparer
No

Organization Details

Formed
2019
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Progradi
Address
1095 Western Dr 413G, Colorado Springs, CO 80915
Preparer
Juanita Ortiz
Phone
9187209371
Supplemental Narrative

Additional Explanations

990 Part III 4D

“General expenses”

990 Part III 4D

“Travel”

990 Part III 4D

“Payroll taxes”

990 Part III 4D

“Staff health insurance”

990 Part III 4D

“Staff retirement”

990 Part III 4D

“Staff salaries”

Raw XML Appendix381 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/AllOtherExpensesGrp/TotalAmt00
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IRS990/DepreciationDepletionGrp/TotalAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt2President
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/Form990TFiledInd0false
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IRS990/GainOrLossGrp/SecuritiesAmt00
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IRS990/GoverningBodyVotingMembersCnt06
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0468602
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IRS990/IncludeFIN48FootnoteInd0false
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IRS990/IndependentVotingMemberCnt06
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IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
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IRS990/LicensedMoreThanOneStateInd0false
IRS990/LoanOutstandingInd0false
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
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IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
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IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt016042
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IRS990/OtherExpensesGrp/ProgramServicesAmt117086
IRS990/OtherExpensesGrp/ProgramServicesAmt234271
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IRS990/OtherExpensesGrp/TotalAmt117086
IRS990/OtherExpensesGrp/TotalAmt234271
IRS990/OtherRevenueTotalAmt00
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05495
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IRS990/PoliciesReferenceChaptersInd0false
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IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0394189
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1990 Part III 4d
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt071174
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0248888
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0271944
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt0394189
IRS990/TotalProgramServiceExpensesAmt0445546
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt075200
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0468602
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0311062
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0343118
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TravelGrp/ProgramServicesAmt042720
IRS990/TravelGrp/TotalAmt042720
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt062174
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt071174
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt018659 Upper Front Hampton
IRS990/USAddress/CityNm0Elkmont
IRS990/USAddress/StateAbbreviationCd0AL
IRS990/USAddress/ZIPCd035620
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
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IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0IBAC
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Owner
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IBAC Corporation
ReturnHeader/Filer/BusinessNameControlTxt0IBAC
ReturnHeader/Filer/EIN0843874964
ReturnHeader/Filer/USAddress/AddressLine1Txt018659 Upper Fort Hampton Rd
ReturnHeader/Filer/USAddress/CityNm0Elkmont
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AL
ReturnHeader/Filer/USAddress/ZIPCd035620
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0833503989
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Progradi
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01095 Western Dr 413G
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Colorado Springs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd080915
ReturnHeader/PreparerPersonGrp/PhoneNum09187209371
ReturnHeader/PreparerPersonGrp/PreparationDt02025-03-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Juanita Ortiz
ReturnHeader/ReturnTs02025-03-27T12:00:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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