2026-05-06T11:18:15-07:00 2025-12-31 990 2025-01-01 825003404 UP - IPADE FOUNDATION INC UP-I 6196776512 1041 Market Street suite 165 San Diego CA 92101 Vidal Espinosa CFO 6196776512 2026-05-05 2025 2025-03-06 01:10:19Z Vidal Espinosa c/o Invictus Advisors 1041 Market Street suite 165 San Diego CA 92101 3354044 0 X X 2017 CA The organization advances access to higher education by funding and overseeing the development of educational infrastructure projects through controlled grantmaking and monitored construction initiatives, primarily in underserved regions. 9 9 0 0 4 0 3108175 3354040 0 0 48 4 0 0 3108223 3354044 4000000 3042000 0 0 0 0 40000 194000 194000 72656 83156 4112656 3319156 -1004433 34888 50795 79803 5880 0 44915 79803 X 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 0 0 3042000 0 0 Funded Phase 1 construction of a university campus in Mexico, supporting infrastructure development for higher education serving approximately 5000 students upon completion 0 0 0 3042000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X X Vidal Espinosa 6196776512 c/o Invictus Advisors 1041 Market Street suite 165 San Diego CA 92101 X Dra Fernanda Llergo Bay President of the Board 40 10 X 0 0 0 Ana Isabel Cardona Sarmiento Vice-President of the Board 40 10 X 0 0 0 Alfredo Partida Araujo Secretary 40 10 X 0 0 0 Lorenzo Fernandez Alonso Treasurer 40 10 X 0 0 0 Dr Santiago Garcia Alvarez Chairperson 40 10 X 0 0 0 Dr Jose Antonio Esquivias Romero Chairperson 40 10 X 0 0 0 Dr Gabriel Dominguez Garcia Villalo Chairperson 40 10 X 0 0 0 Carlos Ignaci Olin Bonilla Chairperson 40 10 X 0 0 0 Vidal Espinosa CFO 40 10 X 0 0 0 0 0 0 0 0 0 0 Dini Spheris Inc 2727 Allen Parkway ste 1650 Houston TX 77019 Fundraising 194000 1 X 0 0 0 194000 0 3160040 0 3354040 0 4 0 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3354044 0 4 0 X 3042000 3042000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 82150 0 82150 0 0 0 0 0 194000 194000 0 0 0 0 Memberships and Dues 674 0 674 0 Banking Fees 132 0 132 0 Business Registration Fees 200 0 200 0 3319156 3042000 83156 194000 X 50795 79803 50795 79803 5880 0 5880 0 X 44915 79803 0 0 44915 79803 50795 79803 34888 0 0 0 0 0 X X 1 X 1 X 1 0 X 0 12842 92610 1070560 3108175 3354040 7638227 0 0 0 0 0 0 0 0 0 0 0 0 12842 92610 1070560 3108175 3354040 7638227 1777872 5860355 2 2 44 45 4 97 0 0 0 0 0 0 0 0 0 0 0 0 7638324 7638324 0.76723 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking The organization conducted grantmaking activities in Mexico to support the construction and development of higher education infrastructure. These activities directly further the organization's exempt purpose by expanding access to educational facilities and resources. All expenditures were made in furtherance of charitable and educational objectives, with oversight and control maintained by the organization from within the United States. 3042000 0 0 3042000 North America (including Canada and Mexico, but not the United States) The organization provided grant funding to support the development and construction of higher education facilities in Mexico. The funding was used for charitable and educational purposes in furtherance of the organization's exempt mission. 3042000 Wire transfers and direct payments 0 Not Applicable 1 0 0 0 0 0 0 0 Schedule F, Part I, Line 2 The organization exercises full expenditure responsibility over all foreign grants in accordance with Internal Revenue Service guidelines. This includes (i) pre-grant due diligence to verify the recipient's legal status, governance, and capacity to carry out charitable activities; (ii) execution of written grant agreements restricting the use of funds exclusively to charitable and educational purposes consistent with Section 501(c)(3); (iii) disbursement of funds through traceable financial channels; and (iv) ongoing monitoring through periodic financial and programmatic reporting. The organization retains full discretion and control over all grant funds at all times. No funds are commingled with personal accounts, and all expenditures are reviewed for compliance with the organization's exempt purposes. The organization does not provide any private benefit to individuals or entities, and no part of its net earnings inures to the benefit of any private shareholder or individual. Internal controls are designed to prevent diversion or misuse of funds. These controls include milestone-based disbursements, review of supporting documentation, and enforcement mechanisms that allow the organization to suspend or terminate funding and pursue recovery of funds in the event of noncompliance. All grantmaking activities are conducted under the supervision of the organization's governing body from within the United States and are aligned with its charitable and educational mission. X X X 1 Dini Spheris Inc 2727 Allen Parkway Suite 1650 Houston TX 77019 The organization engaged Dini Spheris Inc to provide fundraising and donor development services, including digital outreach, donor communications, and campaign strategy. The fundraiser assisted in soliciting contributions through online and direct outreach efforts. The organization retains full discretion and control over all fundraising activities and funds received. The fundraising contractor acts solely as a service provider The organization maintains comprehensive internal controls, governance procedures, and compliance protocols to ensure adherence to Section 501(c)(3) requirements, including prohibitions on private inurement, private benefit, and non-charitable use of funds." 0 3354040 194000 3160040 3354040 194000 3160040 All States Form 990, Part I, Line 1 See Schedule O for additional information regarding governance and operational structure. Form 990, Part I, Line 8 All contributions received are unconditional and do not represent exchange transactions or program service revenue under ASC 958 Form 990, Part III, Line 4a During the tax year, the organization funded Phase 1 of a university campus development project in Mexico. This initiative supports the expansion of higher education infrastructure to increase access to academic programs and facilities. Funded activities included site development, initial construction, and foundational infrastructure necessary for future academic operations. The project is expected to serve a substantial student population upon completion and directly advances the organization's charitable and educational mission. The organization does not retain ownership of funded assets and does not receive any private or economic benefit from its program activities. Form 990, Part V, Line 2a The organization operates through a volunteer board and independent contractors. Operational, financial, and compliance functions are supported by third-party service providers under board supervision Form 990, Part VI, Section B, Line 11b The organization operates exclusively for charitable and educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code. The organization does not confer private benefit to any individual or entity, and no part of its activities results in private inurement. The organization maintains comprehensive internal controls and governance procedures to ensure that all funds are used solely in furtherance of its exempt purposes. These controls are designed to prevent diversion, misuse, or non-charitable application of assets. The organization's financial statements are audited annually by an independent certified public accounting firm in accordance with generally accepted auditing standards (GAAS). The audit is conducted on a separate entity basis. Oversight of the audit process, including selection of the independent auditor and review of audit results, is performed by the organization's governing body or a designated committee thereof. The organization operates through a combination of a volunteer governing board and independent service providers. All officers and directors serve without compensation. Operational, administrative, and compliance functions are supported by third-party professionals under board supervision. The organization deploys funds in a programmatic manner shortly after receipt in order to advance its exempt purposes. As a result, the organization may maintain minimal retained assets at year-end. The organization does not retain ownership interests in assets funded through its grantmaking activities and does not receive any economic benefit or return from such activities. Form 990, Part VI, Section B, Line 12c The organization maintains a written conflict of interest policy applicable to all officers, directors, key employees, and individuals in positions of authority. To ensure compliance, the organization implements the following procedures: * Annual Disclosure: Covered individuals are required to complete and sign a conflict of interest disclosure statement annually. * Ongoing Disclosure: Individuals must promptly disclose any actual or potential conflicts as they arise. * Review Process: Disclosed conflicts are reviewed by the Board of Directors to determine whether a conflict exists and to evaluate appropriate actions. * Recusal: Any individual with a conflict is required to recuse themselves from discussions and voting on related matters. * Documentation: All disclosures and determinations are documented in the organization's records, including meeting minutes where applicable. The organization enforces compliance with this policy, and failure to adhere may result in corrective action, including removal from decision-making authority. The organization maintains written documentation of all disclosures and reviews, and enforces compliance through documented recusal procedures and board oversight. Non-compliance may result in removal from decision-making authority. See Schedule O, Part VI, Line 11b for additional information regarding governance, internal controls, and compliance procedures. Form 990, Part VI, Section B, Line 15 The organization does not compensate officers or directors. All services are performed on a volunteer basis. Compensation decisions are therefore not applicable. See Schedule O, Part VI, Line 11b for governance and operational structure Form 990, Part VI, Section C, Line 19 The organization maintains formal procedures to ensure compliance with public disclosure requirements under Internal Revenue Code Section 6104. Governing documents, the conflict of interest policy, and financial statements are made available upon request. Requests are reviewed and fulfilled by authorized personnel, and documentation is provided in a timely and consistent manner to ensure transparency and accountability. Form 990, Part VII, Section A, Line 1a All officers and directors serve in a voluntary capacity and receive no compensation for their services. The organization does not provide bonuses, deferred compensation, or other forms of remuneration to its governing body. Form 990, Part VIII, Line 1a The organization does not generate program service revenue, as all activities are funded through charitable contributions and grants. Form 990, Part IX, Line 1 All grants are subject to expenditure responsibility requirements, including written agreements, reporting obligations, and compliance monitoring. Form 990, Part IX, Line 11e The organization maintains full control over all funds raised. The fundraising contractor does not have custody or control of contributed funds Form 990, Part IX, Line 25 The organization allocates expenses based on direct identification of costs associated with program services, management and general activities, and fundraising. No joint cost allocations were necessary during the tax year. Form 990, Part X, Line 16 The organization operates a programmatic disbursement model in which funds are deployed shortly after receipt to further exempt purposes, resulting in minimal retained assets at year-end. Form 990, Part XII, Line 2b The organization's financial statements are audited annually by an independent certified public accounting firm in accordance with generally accepted auditing standards (GAAS). The audit is conducted on a separate entity basis. The organization maintains an audit oversight function through its governing body, which is responsible for the selection, engagement, and review of the independent auditor. The Board reviews audited financial statements and related findings prior to final acceptance. Form 990, Part XII, Line 2c The organization maintains a committee responsible for oversight of the audit, review, or compilation of its financial statements and the selection of an independent accountant. During the tax year, the organization updated its oversight process to enhance governance and financial review procedures. These changes included adjustments to the composition of the committee and refinement of its responsibilities in reviewing financial statements and coordinating with external accountants. See Schedule O, Part VI, Line 11b for description of audit oversight responsibilities.