Abbett Family Foundation
- Assets
- $7.3m
- Revenue
- $336.7k
- Investments
- $6.3m
- Employees
- 0
- Location
- Chandler, AZ
- Founding
- 07/2017
- Data as of
- 12/2022
- EIN
- 27-6556709
Organization Overview
Abbett Family Foundation is located in Chandler, AZ. The organization was established in 2017. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Abbett Family 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 12/2022, Abbett Family Foundation generated $336.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (22.3%) each year. All expenses for the organization totaled $398.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Abbett Family Foundation has awarded 76 individual grants totaling $2,692,938. 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 |
|---|---|---|---|
Jeffrey Abbett Chairman | 12 | $30,000 | |
Renee Abbett Director | 12 | $30,000 | |
Timothy Wilcox Director | 12 | $30,000 | |
Jenniffer Jarvis Director/foundation Manage | 17 | $35,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $260,956 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $63,517 |
| Capital Gain Net Income | $63,517 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $12,180 |
| Total Revenue | $336,653 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $125,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $16,072 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $633 |
| Printing and publications | $0 |
| Other expenses | $1,643 |
| Total operating and administrative expenses | $145,848 |
| Contributions, gifts, grants paid | $253,054 |
| Total expenses and disbursements | $398,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $960,994 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $793,837 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,283,915 |
| 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, Abbett Family Foundation has awarded $253,054 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ASU FOUNDATION PURPOSE: CAMP LEVEL UP WITH FUNDING FOR GAMING SUMMER CAMP FOR NEURODIVERGENT YOUTH AT ASU AT MESA CITY CENTER TO DEVELOP TECHNOLOGY SKILLS IN BUILDING VIRTUAL | $31,316 |
ASU GAMMAGE FOUNDATION PURPOSE: ASU GAMMAGE EDUCATIONAL INITIATIVES IN SUPPORT OF TAP WORKSHOPS, DISNEY MUSICALS IN THE SCHOOLS AND SCHOOL TO WORK | $95,738 |
AZA UNITED PURPOSE: TUCSON AND WEST VALLEY EXPANSION PROJECT | $50,000 |
MHC HEALTHCARE PURPOSE: MHC HEALTHCARE BALLOON FESTIVAL TITLE AND GOLD SPONSOR - TO ASSIST MHC HEALTHCARE IN ESTABLISHING A GRADUATE MEDICAL EDUCATION PROGRAM. | $12,000 |
TUCSON CONQUISTADORES PURPOSE: YOUTH SPORTS AND PROGRAMS ANNUAL FUNDRAISER | $14,000 |
YOUTH ON THEIR OWN PURPOSE: EXPANSION OF PROGRAMMATIC SERVICES FOR TIER-THREE YOUTH SUPPORT TO FUND THE CASE MANAGEMENT POSITIONS FOR 2022-2023, INCLUDING NEW CASE MANAGER POSITION AND LICENSED SOCIAL WORKER. | $50,000 |