Abate Foundation Inc
- Assets
- $222.1k
- Revenue
- $171.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Bargersville, IN
- Founding
- 07/1992
- Data as of
- 12/2020
- EIN
- 35-1812652
Organization Overview
Abate Foundation Inc is located in Bargersville, IN. The organization was established in 1992. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abate 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 12/2020, Abate Foundation Inc generated $171.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (17.4%) each year. All expenses for the organization totaled $171.8k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (20.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
RAISING MONEY FOR INDIANA BASED CHARITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAISING MONEY FOR INDIANA BASED CHARITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Jackson Executive Director | Officer | 5 | $0 |
Tina Mccormack Secretary/treasurer | Officer | 5 | $0 |
Morris Kintner Board Member | Trustee | 1 | $0 |
Suzanne Eckert Board Member | Trustee | 1 | $0 |
Russell Zawacki Board Member | Trustee | 1 | $0 |
Scott Bowman Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $139,094 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,753 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $171,327 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,100 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,561 |
| Travel | $6,148 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $171,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,407 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $15,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $129,658 |
| Total assets | $222,065 |
| Accounts payable and accrued expenses | $3,500 |
| Grants payable | $0 |
| 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 | $2,046 |
| Total liabilities | $5,546 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $216,519 |
Grants Awarded
Over the last fiscal year, Abate Foundation Inc has awarded $1,668,286 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bargersville, IN PURPOSE: FUNDS TO ASSIST WITH THE MISSION OF TEACHING MOTORCYCLE SAFETY | $1,665,851 |
Indianapolis, IN PURPOSE: STATE CHARITY FUNDRAISER TO ASSIST MILITARY FAMILIES | $2,435 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Abate Foundation Inc has recieved totaling $70,108.
| Awarding Organization | Amount |
|---|---|
Abate Of Indiana Inc Bargersville, IN PURPOSE: TO ASSIST IN THE MISSION OF THE NOT FOR PROFIT ENTITYTO ASSIST IN THE MISSION OF THE NOT FOR PROFIT ENTITY | $69,908 |
Ucb Charitable Foundation Lawrenceburg, IN PURPOSE: UNRESTRICTED CONTRIBUTION | $100 |
Ucb Charitable Foundation Lawrenceburg, IN PURPOSE: UNRESTRICTED CONTRIBUTION | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Big Shoulders Fund Chicago, IL | $125,993,936 | $62,883,883 |
Voluntary Interdistrict Choice Corporation Saint Louis, MO | $12,736,595 | $40,180,054 |
Northern School District Tr Nsdt Ashland, WI | $7,100,055 | $19,700,380 |
Kentucky Educational Development Corporation Ashland, KY | $6,070,827 | $11,298,796 |
Cristo Rey Network Chicago, IL | $14,102,009 | $11,695,592 |
City Colleges Of Chicago Foundation Chicago, IL | $22,678,364 | $14,327,610 |
Big Ten Academic Alliance Champaign, IL | $13,766,841 | $9,203,675 |
Kidsmart Saint Louis, MO | $4,061,844 | $8,307,759 |
Northwest Foundation Inc Maryville, MO | $55,922,802 | $14,720,589 |
Holy Family Ministries Chicago, IL | $16,241,007 | $8,503,495 |
Middlebury Community Schools Employee Benefit Trust Middlebury, IN | $1,426,617 | $4,992,187 |
Drexel Funds Milwaukee, WI | $18,531,220 | $8,522,964 |