Civic Intelligence

Gbb&L Foundation Inc.

EIN 87-1243853 • 501(c)3 • Durango, CO

Pub. 78 Eligible990-N CoverageNTEE L20

Profile

promoting affordable housing options and financial education tools and resources to aid low-income individuals and families in need thereby relieving the poor and distressed.

46850 Highway 550 465Durango, CO 81301

www.georgebaileyfoundation.org

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Balance Sheet

Assets

$297,993

No earlier filing loaded for comparison.

Liabilities

-

No earlier filing loaded for comparison.

Net Assets

$297,993

No earlier filing loaded for comparison.

Operations

Revenue

$8,763

No earlier filing loaded for comparison.

Expenses

$19,670

No earlier filing loaded for comparison.

Net Income

-$10,907

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2023: $297,993Net Assets 2023: $297,9932023

Highlighted filing

2023

Assets$297,993
Liabilities-
Net Assets$297,993
Open 2023 Filing

Operations Trend

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

$20K$10K$0-$10K-$20KRevenue 2023: $8,763Expenses 2023: $19,670Net Income 2023: -$10,9072023

Highlighted filing

2023

Revenue$8,763
Expenses$19,670
Net Income-$10,907
Open 2023 Filing

Filings

Most recent year

2023 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$297,993
Liabilities
-
Net assets
$297,993
Revenue
$8,763
Expenses
$19,670
Net income
-$10,907
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$2.98$2.98$0.09$0.20$0.11
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$8,763
Mission and Program Overview

Mission

promoting affordable housing options and financial education tools and resources to aid low-income individuals and families in need thereby relieving the poor and distressed.

Program Services

DescriptionGrantsExpenses
The foundation has purchased property in near resort towns which it offers and maintains on a long-term rent-to-own basis. This year the foundation served 5 individuals. The objective of this activity is to provide safe sanitary and secure housing for families in need.$0$7,547
The foundation refers clients to pro bono legal aid providers who volunteer their time and expenses to assist with landlord-tenant disputes or other consumer disputes. This year the foundation helped 4 individuals secure a dismissal of the landlords claims. The foundation also helped an individual dispute and overturn a health insurance denial of coverage. The objective of this activity is to promote and protect clients rights and guard against improper or unlawful collection attempts which would further compromise the clients ability to pay for housing food and education. While the legal professionals volunteer their time on a pro bono basis a reasonable estimate is approximately 40 hours.$0$0
The foundation offers grants for unexpected auto repairs or school athletic expenses which would otherwise compromise the clients ability to to pay for housing food or other necessities. The objective of this activity is to promote financial stability. While the fund program was started this year no grants were made in the year.$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stephen FitzsimmonsIncorporator And PresidentPT$0--
Filing and Contact Details

Filer

Filer Name
GBB and L Foundation Inc
EIN
87-1243853
In Care Of
% Stephen Fitzsimmons
Address
46850 HIGHWAY 550 465, Durango, CO 81301

Signing Officer

Name
Stephen Fitzsimmons
Title
President
Signed
2024-11-15
Supplemental Narrative

Additional Explanations

Doing Business As Names

“The George Bailey Building and Loan Foundation”

Part I, line 16

“| Other Expenses:, Amount:| During the tax year the foundation incurred $620 in fees for filing form 1023 and renewing secretary of state registration. It incurred $12 in renewing its website domain., $632|”

Part IV, General

“| Explanation:| List of Officers - The foundation received its 501c3 exemption determination in October of 2023. Pursuant to the foundations articles the incorporator has the power to appoint the initial Board of Directors. Board appointments are in process.”

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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1The foundation refers clients to pro bono legal aid providers who volunteer their time and expenses to assist with landlord-tenant disputes or other consumer disputes. This year the foundation helped 4 individuals secure a dismissal of the landlords claims. The foundation also helped an individual dispute and overturn a health insurance denial of coverage. The objective of this activity is to promote and protect clients rights and guard against improper or unlawful collection attempts which would further compromise the clients ability to pay for housing food and education. While the legal professionals volunteer their time on a pro bono basis a reasonable estimate is approximately 40 hours.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The George Bailey Building and Loan Foundation
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1| Other Expenses:, Amount:| During the tax year the foundation incurred $620 in fees for filing form 1023 and renewing secretary of state registration. It incurred $12 in renewing its website domain., $632|
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2| Explanation:| List of Officers - The foundation received its 501c3 exemption determination in October of 2023. Pursuant to the foundations articles the incorporator has the power to appoint the initial Board of Directors. Board appointments are in process.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Doing Business As Names
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part I, line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part IV, General
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Stephen Fitzsimmons
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
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ReturnHeader/Filer/EIN0871243853
ReturnHeader/Filer/ForeignPhoneNum03038688586
ReturnHeader/Filer/InCareOfNm0% Stephen Fitzsimmons
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ReturnHeader/TaxPeriodBeginDt02023-01-01
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ReturnHeader/TaxYr02023

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