I Believe Foundation Inc
- Assets
- $4.6m
- Revenue
- $2.9m
- Investments
- $2.7m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-2232715
Organization Overview
I Believe Foundation Inc is located in Houston, TX. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. I Believe Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, I Believe Foundation Inc generated $2.9m in total revenue. All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 132.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, I Believe Foundation Inc has awarded 18 individual grants totaling $1,106,712. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONATIONS TO MINISTRIES
DONATIONS TO NON-PROFITS
GRANTS/DONATIONS TO SMALL BUSINESSES
DONATIONS TO AFRICA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kunbi Imonitie V President | 12 | $71,600 | |
David Imonitie Jr President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,193,309 |
| Interest on Savings | $0 |
| Dividends & Interest | $56,657 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $591 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$344,775 |
| Total Revenue | $2,905,191 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $101,600 |
| Other employee salaries and wages | $172,422 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $27,868 |
| Printing and publications | $1,525 |
| Other expenses | $290,418 |
| Total operating and administrative expenses | $700,877 |
| Contributions, gifts, grants paid | $662,700 |
| Total expenses and disbursements | $1,363,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,869,170 |
| Savings and temporary cash investments | $26,411 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,711,355 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,606,936 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, I Believe Foundation Inc has awarded $662,700 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
NEW LIGHT MINISTRIES PURPOSE: ADVANCE MINISTRY | $300,000 |
LIGHT WATER LIFE PURPOSE: LIFE ENHANCEMENTFOR UNDERDEVELOPEDREGIONS | $132,000 |
I BELIEVE BIBLE CHURCH PURPOSE: ADVANCE MINISTRU | $64,500 |
FAITH INTERNATIONAL CHURCH PURPOSE: ADVANCE MINISTRY | $50,000 |
THE ARK CHURCH PURPOSE: ADVANCE MINISTRY | $40,000 |
San Jose, CA PURPOSE: ADVANCE MINISTRY | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Heritage Hall Oklahoma City, OK | $29,893,924 | $20,863,460 |
Austin Trinity School Austin, TX | $48,197,793 | $16,908,197 |
Arlington Classics Academy Arlington, TX | $32,317,939 | $15,087,121 |
Northlake Christian School Covington, LA | $15,559,549 | $15,961,975 |
Texas Coalition For Animal Protection Fort Worth, TX | $9,140,859 | $14,917,183 |
Covenant Knights School Dallas, TX | $65,440,145 | $15,652,987 |
Compass Academy Charter School Inc Odessa, TX | $45,382,353 | $13,322,993 |
Oklahoma Connections Academy Inc Bartlesville, OK | $2,156,539 | $12,078,246 |
Leadership Prep School Frisco, TX | $24,409,285 | $12,471,078 |
Arkansas Public School Resource Center Inc Little Rock, AR | $6,340,415 | $12,760,504 |
Mission Interests Committee Harrison, AR | $10,271,501 | $13,233,204 |
Texas Tribune Inc Austin, TX | $12,456,170 | $12,467,958 |