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IBG FOUNDATION INC
NEW YORK, NY · EIN 991169421 · Form 990 · FY2024 · NTEE P20 · Human Services · Small ($100K-$1M)
revenue
$466K
expenses
$39K
net assets
$427K
employees
0
volunteers
3
program ratio
76%
mission · from form 990

THE FOUNDATION'S MISSION IS TO PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS AND FAMILIES FACING SERIOUS ILLNESSES. IT COVERS MEDICAL AND LIVING COSTS DURING TREATMENTS, SURGERIES, AND RECOVERY, AND OFFERS MONETARY AWARDS FOR FUNERAL-RELATED EXPENSES. THE NONPROFIT ALSO GRANTS EDUCATIONAL SCHOLARSHIPS TO THOSE PURSUING CAREER ADVANCEMENT, COVERING COSTS FOR ATTENDING FOUR-YEAR AND TWO-YEAR COLLEGES, TRADE AND VOCATIONAL SCHOOLS, CERTIFICATIONS, AND OTHER EDUCATIONAL OPPORTUNITIES. THE MAIN TARGET FOR THE SCHOLARSHIPS IS SECONDARY STUDENTS NEARING GRADUATION, ALTHOUGH OTHERS CAN APPLY.

profile · synthesized from sources

IBG FOUNDATION INC provides financial assistance to individuals and families facing serious illnesses, covering medical and living expenses during treatment and recovery, as well as funeral-related costs. The organization also awards educational scholarships to support career advancement, including attendance at colleges, trade schools, and certification programs. Its primary scholarship focus is on secondary students nearing graduation.

named programs · 3 · from sources

What they call their work

Educational Scholarship Program
Offers scholarships to students pursuing career advancement through higher education, trade schools, vocational training, and certification programs, with a focus on secondary students nearing graduation.
Funeral Expense Support
Provides monetary awards to help cover funeral-related expenses for families affected by the loss of a loved one.
Medical and Living Expense Assistance
Provides financial aid to individuals and families coping with serious illnesses, covering costs related to medical treatment, surgeries, and daily living during recovery.
activities · 2 groups

What they do

  • Financial Aid and Scholarship Access Programs 1 activity
    • Funding educational scholarships for career advancement
      Awards grants to support individuals pursuing education and career development, including attendance at four-year and two-year colleges, trade and vocational schools, and certification programs.
  • Direct Financial Assistance to Individuals 1 activity
    • Providing financial assistance for medical and living expenses
      Offers financial aid to individuals and families coping with serious illnesses, covering medical costs, living expenses during treatment, surgeries, and recovery, as well as monetary support for funeral-related expenses.
financials · form 990 · fy2024
revenue
Total revenue$466K
Contributions & grants$466K100%
Program service revenue$00%
Investment income$1490%
Other revenue$0
expenses
Total expenses$39K
Program expenses76%
Admin / overhead24%
Fundraising0%
Salaries & benefits$2K
Grants paid out$28K
Largest expense lineProfessional Fees
balance sheet
Total assets$427K
Cash$427K
Investments$0
Liabilities$0
Net assets$427K
Liquid reserves130.1 mo
1 years on record · 2024–2024
leadership · form 990 part vii · fy2024

Who runs it

board members · 3
  • GENE BERNSTEIN — SECRETARY
  • MICHAEL GRAFF — TREASURER
  • THOMAS IOVINO — PRESIDENT
strategies · 2

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Education as a Pathway to Economic Stability
    methodology: scholarships_for_career_advancement
    By funding scholarships for secondary students nearing graduation, the foundation promotes long-term economic stability and upward mobility, because career advancement through education breaks cycles of financial vulnerability.
  • Financial Relief During Health Crises
    methodology: financial_assistance_for_medical_hardship
    By providing financial assistance for medical, living, and funeral expenses during serious illness, IBG FOUNDATION INC reduces economic strain on individuals and families, enabling greater focus on health recovery and stability during critical periods.