Gibault Foundation Inc

In support of Gibault Inc.'s future growth, development, and financial well-being, the Foundation owns and maintains the buildings, land and land improvements. The buildings are leased by Gibault, Inc. for various programs. Depreciation expense was $1,274,498 in 2024. Additionally, the Foundation paid interest expense to a local bank related to a bond issue incurred to renovate existing buildings. Interest paid during 2024 was $47,055. The Foundation received lease payments from Gibault, Inc. totaling $1,970,000 during 2024.