Independence Bancshares Charitable Foundation Inc
Independence Bancshares Charitable Foundation experiences fluctuating revenues and occasional expense overruns, maintaining zero officer compensation.
EIN: 201051475 · Sumner, IA · NTEE: T20 · Updated: 2026-03-28
Is Independence Bancshares Charitable Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Independence Bancshares Charitable Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Independence Bancshares Charitable Foundation Inc
Independence Bancshares Charitable Foundation Inc (EIN: 201051475) is a nonprofit organization based in Sumner, IA, classified under NTEE code T20. The organization reported total revenue of $42K and total assets of $45K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Independence Bancshares Charitable Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Independence Bancshares Charitable Foundation Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Independence Bancshares Charitable Foundation Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, which is highly efficient for an organization of its size.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Independence Bancshares Charitable Foundation Inc's IRS 990 filings:
- Inconsistent revenue streams leading to significant year-over-year fluctuations
- Expenses exceeding revenue in multiple recent periods (e.g., 2022 and 2023), potentially drawing down assets
Strengths
The following positive indicators were identified for Independence Bancshares Charitable Foundation Inc:
- Consistent 0% officer compensation, indicating highly efficient leadership or volunteer-driven model
- Very low liabilities ($1 reported consistently), demonstrating strong financial management regarding debt
- Consistent IRS 990 filing history, indicating good transparency
- Assets generally exceed latest revenue, providing some financial buffer
Frequently Asked Questions about Independence Bancshares Charitable Foundation Inc
Is Independence Bancshares Charitable Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Independence Bancshares Charitable Foundation Inc (EIN: 201051475) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Independence Bancshares Charitable Foundation Inc spend its money?
Independence Bancshares Charitable Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Independence Bancshares Charitable Foundation Inc tax-deductible?
Independence Bancshares Charitable Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201051475). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Independence Bancshares Charitable Foundation Inc. financially stable?
The foundation's financial stability is moderate. While it has experienced periods of significant revenue (e.g., $85,103 in 2021), it also has years where expenses exceed revenue (e.g., $46,167 expenses vs. $27,139 revenue in 2023), leading to asset fluctuations. Its current assets of $44,843 provide some buffer.
How does the organization manage its leadership costs?
The organization manages its leadership costs exceptionally well, reporting 0% officer compensation across all available filings, suggesting a volunteer-driven or very low-cost leadership structure.
What is the trend in the organization's assets?
The organization's assets have fluctuated, reaching a high of $90,801 in 2021 and decreasing to $36,924 in 2023. This trend is largely influenced by the annual difference between revenue and expenses.
Does the foundation carry significant debt?
No, the foundation consistently reports liabilities of $1 across all filings, indicating a negligible debt burden.
How efficient is the foundation's spending?
While a detailed breakdown of program, administrative, and fundraising expenses is not provided, the consistent 0% officer compensation suggests high efficiency at the leadership level. Assuming most expenses are program-related, this indicates a strong focus on its charitable mission.
Filing History
IRS 990 filing history for Independence Bancshares Charitable Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Independence Bancshares Charitable Foundation Inc's revenue has declined by 57.3%, moving from $64K to $27K. Total assets increased by 211.3% over the same period, from $12K to $37K. Total functional expenses fell by 23.1%, from $60K to $46K. In its most recent filing year (2023), Independence Bancshares Charitable Foundation Inc reported a deficit of $19K, with expenses exceeding revenue. The organization holds $1 in liabilities against $37K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $37K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $27K | $46K | $37K | $1 | — | — |
| 2022 | $17K | $52K | $56K | $1 | — | View 990 |
| 2021 | $85K | $45K | $91K | $1 | — | — |
| 2020 | $30K | $11K | $51K | $1 | — | View 990 |
| 2019 | $26K | $18K | $31K | $1 | — | View 990 |
| 2015 | $4K | $4K | $8K | $1 | — | View 990 |
| 2014 | $5K | $4K | $8K | $1 | — | View 990 |
| 2013 | $59K | $60K | $6K | $1 | — | View 990 |
| 2012 | $64K | $68K | $7K | $1 | — | View 990 |
| 2011 | $64K | $60K | $12K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $27K, expenses of $46K, and assets of $37K (revenue +56.4% year-over-year).
- 2022: Revenue of $17K, expenses of $52K, and assets of $56K (revenue -79.6% year-over-year).
- 2021: Revenue of $85K, expenses of $45K, and assets of $91K (revenue +183.2% year-over-year).
- 2020: Revenue of $30K, expenses of $11K, and assets of $51K (revenue +15.3% year-over-year).
- 2019: Revenue of $26K, expenses of $18K, and assets of $31K (revenue +620.3% year-over-year).
- 2015: Revenue of $4K, expenses of $4K, and assets of $8K (revenue -31.8% year-over-year).
- 2014: Revenue of $5K, expenses of $4K, and assets of $8K (revenue -91.0% year-over-year).
- 2013: Revenue of $59K, expenses of $60K, and assets of $6K (revenue -7.5% year-over-year).
- 2012: Revenue of $64K, expenses of $68K, and assets of $7K (revenue +0.4% year-over-year).
- 2011: Revenue of $64K, expenses of $60K, and assets of $12K.
Data Sources and Methodology
This transparency report for Independence Bancshares Charitable Foundation Inc 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.