Overview
What is Ife Foundation?
The Ife Foundation, based in Denver, Colorado, is a nonprofit organization dedicated to advancing charitable causes. Their primary focus is on grant-making, channeling funds to organizations exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. Beyond financial support, the foundation also manages and invests gifts, bequests, and trusts for charitable purposes, and may own, manage, or develop property in connection with these goals. Additionally, the Ife Foundation can participate in various charitable arrangements and act as a trustee or in other capacities, all in service of its charitable mission.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, Two-Star out of Four Star Rating.
The Ife Foundation has received a two-star rating from Charity Navigator, indicating a moderate level of performance in terms of accountability and finance. The organization's overall score is based entirely on this single beacon score, reflecting its focus on responsible financial practices and transparency. With a score of 71 in Accountability & Finance, the foundation demonstrates solid governance and effective management of its resources.
Strengths include a fully independent board of directors, as it consists of 100% independent members, and its financial health is noteworthy with a liabilities to assets ratio of 0.00%. Furthermore, the foundation maintains a high program expense ratio of 98.11%, indicating that a significant majority of its funds are utilized for its charitable programs. These metrics suggest a commitment to maximizing the impact of its resources.
While the Ife Foundation shows commendable governance practices, the overall rating of 71% indicates that there may be areas for improvement in its financial practices or impact measures. Continued focus on enhancing its transparency and operational effectiveness will be essential for improving its standing in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Ife Foundation legitimate?
Ife Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ife Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Ife Foundation?
The Ife Foundation's mission is primarily focused on charitable activities. It achieves this by making grants to organizations that are exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. Beyond financial aid, the foundation also accepts, manages, and administers various types and values of gifts, bequests, devises, and trusts for charitable purposes. The foundation may also engage in real estate transactions and participate in various charitable arrangements as permitted by law. Its role can extend to acting as a trustee or taking on any relevant capacity in connection with charitable arrangements. Overall, the Ife Foundation's mission is to utilize its resources for charitable purposes, as specified by the Colorado Revised Nonprofit Corporation Act.
Who is the CEO of Ife Foundation?
Jason Bule is the President of Ife Foundation.
What is the revenue of Ife Foundation?
Ife Foundation's revenue in 2022 was $1,516,383.
Who are the executives of Ife Foundation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Ife Foundation?
Ife Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ife Foundation
The Ife Foundation, a nonprofit organization, is dedicated to advancing charitable causes. Central to its mission is the practice of charitable grantmaking. This involves donating funds to organizations and entities that are exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code.
Beyond grantmaking, Ife Foundation has a broader mandate. It can accept, manage, invest, and reinvest various gifts, bequests, devises, trusts, and properties, using their income or principal for charitable purposes. The foundation is also permitted to participate in various charitable arrangements and act as a trustee or take on other roles, as long as it adheres to the laws governing charitable activities.
Furthermore, Ife Foundation has the authority to acquire, own, manage, develop, rehabilitate, sell, lease, encumber, or transfer real or personal property in support of its charitable objectives. This flexibility allows the foundation to contribute to its mission in various ways, depending on the specific needs and opportunities it encounters. Overall, Ife Foundation's mission is focused on using its resources to promote charitable causes, with a wide range of tools and strategies at its disposal.
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Impact
July, 2024
The Ife Foundation's impact is evident through its charitable grant making activities to support organizations that are exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. By providing cash grants to such charitable organizations, Ife Foundation contributes to furthering charitable purposes, benefiting a wide range of causes and initiatives. Through its mission of accepting, managing, and disbursing gifts and property for charitable purposes, Ife Foundation plays a crucial role in supporting and advancing philanthropy in the community.
This information is meant to be a general summary of Ife Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $155,681
- Gross Receipts: $4,744,947
Assets and Liabilities:
- Total Assets: $30,719,135
- Total Liabilities: $0
- Net Assets: $30,719,135
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Organization Details
Founding Year
2011
Phone
(720) 288-2828Principal Officer
Jason Bule
Main Address
2443 South University Blvd 306, Denver, CO, 80210
NTEE Category
Code: T30 - Philanthropy
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