Minbanc Foundation Inc
- Assets
- $3.0m
- Revenue
- $281.1k
- Investments
- $3.0m
- Employees
- 0
- Location
- Washington, DC
- Founding
- 06/2000
- Data as of
- 12/2021
- EIN
- 51-0386370
Organization Overview
Minbanc Foundation Inc is located in Washington, DC. The organization was established in 2000. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minbanc 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, Minbanc Foundation Inc generated $281.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 35.2% each year . All expenses for the organization totaled $127.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Minbanc Foundation Inc has awarded 145 individual grants totaling $227,449. 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
PROVIDED GRANT FOR TRAINING TO THE EMPLOYEES OF MINORITY AND FEMALE-OWNED BANKS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ignacio Urrabazo Chairman | 2 | $0 | |
Robert Cooper Board Member | 0.25 | $0 | |
Kevin Toomey Board Member | 0.25 | $0 | |
Rod J Alba Treasurer | 2 | $0 | |
Nicole Elam Board Member | 0.25 | $0 | |
Sara Reid Executive Director | 10 | $45,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $48,458 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $182,672 |
| Capital Gain Net Income | $182,672 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $281,130 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $45,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,447 |
| Depreciation | $0 |
| Occupancy | $3,995 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,182 |
| Total operating and administrative expenses | $83,092 |
| Contributions, gifts, grants paid | $44,598 |
| Total expenses and disbursements | $127,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,320 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,048,325 |
| Accounts payable and accrued expenses | $6,284 |
| 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 | $12,476 |
| Total liabilities | $18,760 |
Grants Awarded
Over the last fiscal year, Minbanc Foundation Inc has awarded $50,843 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
ADALIA MORENA PURPOSE: HUMAN RESOURCES LAW FROM START TO FINISH | $359 |
ALAN DEINES PURPOSE: ACAMS 24TH ANNUAL AML CONFERENCE | $495 |
AMANDA FENG PURPOSE: CRA: AN OVERVIEW | $344 |
ANDY PRESCOTT PURPOSE: CYBER-ATTACKS AGAINST PAYMENT SYSTEMS PROGRAM | $175 |
BRYAN LUKE PURPOSE: ABA ANNUAL CONVENTION | $495 |
CERRIE BURGI PURPOSE: MISSOURI BANKERS ASSOCIATION ANNUAL CONVENTION | $600 |