Ida B Wells Memorial Foundation
- Assets
- $176.3k
- Revenue
- $46.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/1989
- Data as of
- 06/2023
- EIN
- 95-4191108
Organization Overview
Ida B Wells Memorial Foundation is located in Chicago, IL. The organization was established in 1989. 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. Ida B Wells Memorial Foundation 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 06/2023, Ida B Wells Memorial Foundation generated $46.3k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 49.6% each year . All expenses for the organization totaled $29.4k during the year ending 06/2023. While expenses have increased by 12.6% per year over the past 4 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
RUST COLLEGE SCHOLARSHIP FUNDING FOR IDA B WELLS SCHOLARSHIP
IDA B WELLS MEMORIAL MUSEUM DONATION FOR PROGRAMS AND EXHIBITS
MICHAEL OBERMAN BOOK CLUB DONATION FOR THE CIRCULATION OF IDA B WELLS BOOK
IDA B WELLS ANNUAL BRONZEVILLE FESTIVAL FOR EDUCATION AND PROMOTION OF IDA B WELLS FOUNDATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Duster Chairman Of The Board | 3 | $0 | |
Daniel Duster Vice Chairman | 3 | $0 | |
David Duster Treasurer And Secretary | 3 | $13,244 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $16,571 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $29,775 |
| Total Revenue | $46,346 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $13,244 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,410 |
| Printing and publications | $0 |
| Other expenses | $1,346 |
| Total operating and administrative expenses | $21,149 |
| Contributions, gifts, grants paid | $8,280 |
| Total expenses and disbursements | $29,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,316 |
| 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 | $176,316 |
| 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, Ida B Wells Memorial Foundation has awarded $8,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
RUST COLLEGE PURPOSE: IDA B WELLS SCHOLARSHIP | $6,000 |
IDA B WELLS-BARNETT MUSEUM PURPOSE: EXHIBITS AND PROGRAMS | $1,000 |
MICHAEL OBERMAN BOOK CLUB PURPOSE: PROMOTE IDA B WELLS BOOK SALES | $1,000 |