Ibac Corporation
EIN: 843874964 · Elkmont, AL
| Metric | Value |
|---|---|
| Total Revenue | $469K |
| Total Expenses | $300K |
| Net Assets | $249K |
Is Ibac Corporation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Ibac Corporation
Ibac Corporation (EIN: 843874964) is a nonprofit organization based in Elkmont, AL. The organization reported total revenue of $469K and total assets of $343K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ibac Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ibac Corporation is a small nonprofit that has been operating for 7 years, with 2 years of IRS 990 filings on record (2022–2023). Revenue has grown at a compound annual rate of -11.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $363K |
| Total Expenses | $300K |
| Surplus / Deficit | +$63K |
| Total Assets | $311K |
| Total Liabilities | $62K |
| Net Assets | $249K |
| Operating Margin | 17.4% |
| Debt-to-Asset Ratio | 20.0% |
| Months of Reserves | 12.4 months |
Financial Health Grade: A
In 2023, Ibac Corporation reported a surplus of $63K with revenue exceeding expenses, holds 12.4 months of operating reserves (strong position), has a debt-to-asset ratio of 20.0% (moderate leverage).
Financial Trends
Over 2 years of filings (2022–2023), Ibac Corporation's revenue has declined at a compound annual growth rate (CAGR) of -11.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -11.6% | +33.3% | +51.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2019 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Ibac Corporation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Ibac Corporation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $63K, with revenue exceeding expenses.
- Debt-to-asset ratio: 20.0%.
Frequently Asked Questions about Ibac Corporation
Is Ibac Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Ibac Corporation (EIN: 843874964) insufficient data. 0 red flags identified, 0 strengths noted.
How does Ibac Corporation spend its money?
Detailed spending breakdown data is not yet available for Ibac Corporation. Check back for updated IRS 990 analysis.
Are donations to Ibac Corporation tax-deductible?
Ibac Corporation is registered as a tax-exempt nonprofit (EIN: 843874964). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Ibac Corporation located?
Ibac Corporation is headquartered in Elkmont, Alabama and files with the IRS under EIN 843874964.
How many years of IRS 990 filings does Ibac Corporation have?
Ibac Corporation has 2 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $469K in total revenue.
Filing History
IRS 990 filing history for Ibac Corporation showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), Ibac Corporation's revenue has declined by 11.6%, moving from $411K to $363K. Total assets increased by 51.6% over the same period, from $205K to $311K. Total functional expenses rose by 33.3%, from $225K to $300K. In its most recent filing year (2023), Ibac Corporation reported a surplus of $63K, with revenue exceeding expenses. The organization holds $62K in liabilities against $311K in assets (debt-to-asset ratio: 20.0%), resulting in net assets of $249K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $363K | $300K | $311K | $62K | — | View 990 |
| 2022 | $411K | $225K | $205K | $19K | — | View 990 |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ibac Corporation:
Data Sources and Methodology
This transparency report for Ibac Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.