Abbvie Patient Assistance Foundation
- Assets
- $17.9m
- Revenue
- $185.6m
- Investments
- $0.0
- Employees
- 0
- Location
- North Chicago, IL
- Founding
- 05/2008
- Data as of
- 12/2021
- EIN
- 26-1215559
Organization Overview
Abbvie Patient Assistance Foundation is located in North Chicago, IL. The organization was established in 2008. 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. Abbvie Patient Assistance 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 12/2021, Abbvie Patient Assistance Foundation generated $185.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (34.9%) each year. All expenses for the organization totaled $170.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (36.2%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE PHARMACEUTICAL CARE AT NO CHARGE TO ELIGIBLE INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claudia Carravetta President & Director | 1 | $0 | |
Thad Smith Vice Presdient & Director Thru 11/21 | 10 | $0 | |
Anne Najjar Vice Presdient & Director Start 12/21 | 1 | $0 | |
Timothy Kolenda Treasurer | 1 | $0 | |
Wayne Klintworth Assistant Treasurer | 0.5 | $0 | |
Greg Miley Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $185,634,024 |
| Interest on Savings | $821 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $185,634,845 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,164,778 |
| Total operating and administrative expenses | $1,164,778 |
| Contributions, gifts, grants paid | $169,360,093 |
| Total expenses and disbursements | $170,524,871 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $298,803 |
| Savings and temporary cash investments | $0 |
| 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 | $17,624,763 |
| 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 | $17,923,566 |
| 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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lilly Endowment Inc Indianapolis, IN | $32,760,446,092 | $1,327,229,144 |
John D & Catherine T Macarthur Foundation Chicago, IL | $9,462,296,474 | $781,295,998 |
Abbvie Patient Assistance Foundation North Chicago, IL | $17,923,566 | $185,634,845 |
Lumina Foundation For Education Inc Indianapolis, IN | $0 | $124,727,424 |
Fulk Family Foundation Inc Chicago, IL | $111,507,856 | $5,187,231 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
Grainger Foundation Inc Lake Forest, IL | $184,158,239 | $17,016,007 |
Crawford Taylor Foundation St Louis, MO | $738,101,888 | $69,635,068 |
Zell Family Foundation Chicago, IL | $0 | $76,843,080 |
Enterprise Holdings Foundation Saint Louis, MO | $398,583,830 | $68,157,541 |
Abbvie Foundation North Chicago, IL | $72,211,109 | $4,010,058 |
Hall Family Foundation Kansas City, MO | $1,171,646,854 | $87,869,006 |