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Up - Ipade Foundation INC FY2023 filing

Tax-deductible

San Diego, CA501(c)(3)Since 2017Community Development EIN 82-5003404Revenue $1.1M in FY2023

On file with the IRSup.edu.mx1041 Market Street Suite 165, 92101-7233 · San Diego, CATax-exempt since Aug 2018Publicly supported — 509(a)(2)

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During the tax year, the organization funded Phase 1 of a university campus development project in Mexico through a structured grantmaking process. Funds were disbursed pursuant to written agreements requiring the recipient to use funds exclusively for charitable and educational purposes consistent with Section 501(c)(3). The organization maintained expenditure responsibility, including pre-grant due diligence, milestone-based disbursements, and ongoing monitoring through financial and operational reporting. The organization does not retain ownership of constructed assets and does not receive any private benefit or economic return from funded projects. The organization does not retain any ownership interest in funded projects and does not receive any economic or private benefit from its activities

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average deficit $2K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
175 mo
of spending, in cash
Looks good: 174.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
×12 vs prior year
Spent
$72K
To programs
0%
Net assets
$1.0M
By yearFY2020–FY2025
Revenue
$1.1M
FY2023▲ ×12
Tap a bar for its year
Revenue by fiscal year
FY2020$2.9M
FY2021$13K
FY2022$93K
FY2023$1.1M
FY2024$3.1M
FY2025$3.4M
Expenses
$72K
FY2023▼ -23%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.3M
FY2021$630K
FY2022$93K
FY2023$72K
FY2024$4.1M
FY2025$3.3M
Net assets
$1.0M
FY2023▲ ×21
Tap a bar for its year
Net assets by fiscal year
FY2020$592K
FY2021−$25K
FY2022$51K
FY2023$1.0M
FY2024$45K
FY2025$80K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2018.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 100% · $72K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Dra Fernanda Llergo Bay
President of the Board
$0Pt VII · Sec A
Ana Isabel Cardona Sarmiento
Vice-President of the Board
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Up - Ipade Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds a new university campus to support education at all levels.

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1 program · in their own filed words · FY2023
01

Phase 1 of University Campus Construction

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.1M
Ln 12
Gifts and grantsLn 1h$1.1M
Investment incomeLn 3$44
Money outPt IX
$72K
Ln 25
Managementcol C$72K
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.0M
Total assetsLn 16$1.0M
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$44
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$1.0M
Cash and savings togetherLn 1–2$1.0M
Total assetsLn 16$1.0M
LiabilitiesLn 26$0
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$51K$1.0M
Total assetsLn 16$51K$1.0M
LiabilitiesLn 26$0$0
Net assetsLn 32$51K$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$71K$71K
Other expenses (24a–d)Ln 24$2K$0$2K$0
Total functional expensesLn 25$72K$0$72K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.4M$3.3M$35K$80K 990 PDF
FY2024 $3.1M$4.1M−$1.0M$45K 990 PDF
FY2023 Viewing $1.1M$72K$999K$1.0M 990 PDF
FY2022 $93K$93K−$753$51K 990 PDF
FY2021 $13K$630K−$617K−$25K 990 PDF
FY2020 $2.9M$2.3M$576K$592K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $1,070,604 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $92,610$1,070,560
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $2$44
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $92,612$1,070,604
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $93,365$72,064
I-18 Total expensesPrior year $93,365$72,064
I-19 Revenue less expensesPrior year −$753$998,540
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,070,604 across 11 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$70,560
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$1,000,000
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$1,070,560
VIII-3 Investment incomeRelated to mission $44 · Unrelated business $0 · Excluded from tax $0$44
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $44 · Unrelated business $0 · Excluded from tax $0$1,070,604
Part IX · Statement of functional expenses $72,064 across 2 lines filed
IX-11a Management feesManagement $70,560$70,560
IX-24 Other expenses (24a–d)Programs $0 · Management $1,504 · Fundraising $0$1,504
IX-25 Total functional expensesPrograms $0 · Management $72,064 · Fundraising $0$72,064
Part X · Balance sheet $1,049,348 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $50,808$1,049,348
X-16 Total assetsStart of year $50,808$1,049,348
X-17 Accounts payable and accrued expensesStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $50,808$1,049,348
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $50,808$1,049,348
X-33 Total liabilities and net assetsStart of year $50,808$1,049,348
Part XI · Reconciliation of net assets $1,049,348 net assets at year end
XI-1 Total revenue$1,070,604
XI-2 Total expenses$72,064
XI-3 Revenue less expenses$998,540
XI-4 Net assets at start of year$50,808
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,049,348

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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