Joseph & Sophia Abeles Foundation Inc
- Assets
- $10.5m
- Revenue
- $2.7m
- Investments
- $10.2m
- Employees
- 0
- Location
- Purchase, NY
- Founding
- 12/1962
- Data as of
- 12/2023
- EIN
- 13-6259577
Organization Overview
Joseph & Sophia Abeles Foundation Inc is located in Purchase, NY. The organization was established in 1962. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joseph & Sophia Abeles Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Joseph & Sophia Abeles Foundation Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $1.6m during the year ending 12/2023. While expenses have increased by 1.6% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Joseph & Sophia Abeles Foundation Inc has awarded 195 individual grants totaling $5,126,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Werlinich Treasurer | 0 | $0 | |
Lucille Werlinich President | 5 | $104,981 | |
Barbara Abeles Vice President | 0.13 | $44,992 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $841 |
| Dividends & Interest | $733,213 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,010,116 |
| Capital Gain Net Income | $2,010,116 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,744,170 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $149,973 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $18,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $750 |
| Total operating and administrative expenses | $321,696 |
| Contributions, gifts, grants paid | $1,237,000 |
| Total expenses and disbursements | $1,558,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $79,522 |
| Savings and temporary cash investments | $155,912 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $10,452,536 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Joseph & Sophia Abeles Foundation Inc has awarded $1,237,000 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN BALLET THEATER PURPOSE: TO BE USED BY THE ORGANIZATION FOR ITS CHARITABLE PURPOSE. | $25,000 |
AMERICAN INDIAN COLLEGE FUND PURPOSE: TO BE USED BY THE ORGANIZATION FOR ITS CHARITABLE PURPOSE. | $35,000 |
AMERICAN MUSEUM OF NATURAL HISTORY PURPOSE: TO BE USED BY THE ORGANIZATION FOR ITS CHARITABLE PURPOSE. | $20,000 |
ARTSWESTCHESTER PURPOSE: TO BE USED BY THE ORGANIZATION FOR ITS CHARITABLE PURPOSE. | $35,000 |
CARE PURPOSE: TO BE USED BY THE ORGANIZATION FOR ITS CHARITABLE PURPOSE. | $10,000 |
CHILDREN'S AID SOCIETY PURPOSE: TO BE USED BY THE ORGANIZATION FOR ITS CHARITABLE PURPOSE. | $15,000 |