The Abim Foundation
- Assets
- $80.4m
- Revenue
- $4.9m
- Investments
- $41.1m
- Employees
- 7
- Location
- Philadelphia, PA
- Founding
- 06/1990
- Data as of
- 06/2022
- EIN
- 23-2585181
Organization Overview
The Abim Foundation is located in Philadelphia, PA. The organization was established in 1990. According to its NTEE Classification (G12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 06/2022, Abim Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abim Foundation 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 06/2022, Abim Foundation generated $4.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $3.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Abim Foundation has awarded 60 individual grants totaling $8,167,368. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.AS AN OPERATING CHARITY, THE ABIM FOUNDATION DEVELOPS AND IMPLEMENTS PROJECTS IN SUPPORT OF OUR MISSION TO ADVANCE THE CORE VALUES OF MEDICAL PROFESSIONALISM AS A FORCE TO IMPROVE THE QUALITY OF HEALTH CARE.
Describe the Organization's Program Activity:
THE FOUNDATION SEEKS TO ADVANCE THE CORE VALUES OF MEDICAL PROFESSIONALISM AS A FORCE TO IMPROVE THE QUALITY OF HEALTH CARE IN THE UNITED STATES. THE IDEALS OF PROFESSIONALISM ARE OUTLINED IN THE PHYSICIAN CHARTER, THE CREATION OF WHICH THE FOUNDATION CO-SPONSORED AND WHICH HAS BEEN WIDELY EMBRACED. SINCE 2012, THE FOUNDATION HAS LED THE CHOOSING WISELY CAMPAIGN, WHICH HAS STRESSED THE IMPORTANCE OF AVOIDING UNNECESSARY AND POTENTIALLY HARMFUL CARE. AND SINCE 2017, THE FOUNDATION HAS FOCUSED ON IMPROVING TRUST IN THE HEALTH CARE SYSTEM AND MAKING IT MORE WORTHY OF TRUST. THROUGH OUR INITIATIVES, WE SEEK TO BETTER UNDERSTAND THESE OBSTACLES AND EXPLORE WAYS TO OVERCOME THEM. MUCH OF OUR WORK FOCUSES ON ADVANCING MEDICAL PROFESSIONALISM IN THE AREA OF THE WISE USE, OR STEWARDSHIP, OF RESOURCES. (CONT'D ON SCH. O) THIS INCLUDES THE SUCCESSFUL CHOOSING WISELY CAMPAIGN WHICH HAS RESHAPED HOW PHYSICIANS AND PATIENTS DISCUSS WHETHER OR NOT PARTICULAR SERVICES ARE IN THE BEST INTEREST OF THE PATIENT. IT ALSO INCLUDES THE BUILDING TRUST INITIATIVE, A MULTI-FACETED EFFORT TO INCREASE CONVERSATION, THOUGHT LEADERSHIP, RESEARCH AND BEST PRACTICES TO ELEVATE TRUST AS AN ESSENTIAL ORGANIZING PRINCIPLE FOR IMPROVING HEALTH CARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard J Baron President | OfficerTrustee | 8 | $213,308 |
Daniel Wolfson Executive Vice President/coo | Officer | 40 | $461,954 |
Vincent Mandes Senior Vice President/cfo | Officer | 4 | $41,658 |
Pamela Browner-White Svp, Communications | Officer | 5 | $49,824 |
Lorna Lynn Vp, Medical Education Research | 1 | $6,446 | |
Timothy Lynch Sr. Director, Foundation Programs | 40 | $186,393 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $212,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $212,500 |
| Total Program Service Revenue | $0 |
| Investment income | $2,122,012 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,521 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,543,837 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,891,570 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $627,407 |
| Grants and other assistance to domestic individuals. | $30,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,009,373 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $769,009 |
| Pension plan accruals and contributions | $49,085 |
| Other employee benefits | $78,704 |
| Payroll taxes | $82,964 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,885 |
| Fees for services: Accounting | $7,361 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,259 |
| Advertising and promotion | $34,872 |
| Office expenses | $35,206 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $116,724 |
| Travel | $18,870 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $52,043 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,910 |
| All other expenses | $10,000 |
| Total functional expenses | $3,031,672 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,481,480 |
| Savings and temporary cash investments | $3,004 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,225 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $241,903 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $36,517,438 |
| Investments—other securities | $41,122,107 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $80,380,157 |
| Accounts payable and accrued expenses | $586,321 |
| Grants payable | $375,386 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $58,538 |
| Total liabilities | $1,020,245 |
| Net assets without donor restrictions | $79,219,912 |
| Net assets with donor restrictions | $140,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $80,380,157 |
Grants Awarded
Over the last fiscal year, The Abim Foundation has awarded $625,887 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMYHEALTH PURPOSE: ADVANCING RESEARCH ON TRUST (PHII) - TO ADVANCE RESEARCH ON IMPROVING TRUST IN OUR HEALTH CARE SYSTEM | $103,957 |
AURORA UW ACADEMIC MEDICAL GROUP INC PURPOSE: DEI & TRUST - BUILDING COMMUNITY TRUST BY REALIZING COMMUNITY ENVIRONMENTAL HEALTH GOALS | $20,000 |
DIVERSEMEDICINE INC PURPOSE: FUNDS WILL BE USED TO CONTRACT WITH A RESEARCH COORDINATOR TO ASSIST IN DATA COLLECTION, ORGANIZATION AND SCHOLARLY PRODUCTION, WITH THE AIM OF DEMONSTRATING THE IMPACT OF DIVERSEMEDICINE'S WORK. THIS WORK IS CLOSELY TIED TO THE ABIM FOUNDATION'S DEI WORK. | $15,000 |
COST OF CARE PURPOSE: SUPPORT THE STARS PROGRAM | $25,000 |
HENNEPIN HEALTHCARE FOUNDATION PURPOSE: TRAINEES AND FACULTY ON BUILDING TRUST - TO TEACH TRAINEES TO INCORPORATE TRAUMA-INFORMED APPROACHES IN THEIR PRACTICES | $20,000 |
HSM-AFFIRM AT THE ASPEN INSTITUTE PURPOSE: FIREARM RELATED VIOLENCE - TO CONTINUE OPERATING THE RESEARCH COMMUNITY AND CONSULT WITH THE ABIM FOUNDATION ON MEETINGS RELATED TO TRUST AND TO LOW VALUE CARE | $20,000 |