Abbott Fund
- Assets
- $29.8m
- Revenue
- $12.7m
- Investments
- $1.3m
- Employees
- 0
- Location
- Abbott Park, IL
- Founding
- 02/1953
- Data as of
- 12/2022
- EIN
- 36-6069793
Organization Overview
Abbott Fund is located in Abbott Park, IL. The organization was established in 1953. 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. Abbott Fund 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, Abbott Fund generated $12.7m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $26.2m during the year ending 12/2022. While expenses have increased by 9.7% per year over the past 4 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 2019, Abbott Fund has awarded 370 individual grants totaling $78,639,413. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE ACTIVITIES IN TANZANIA INCLUDE EXPENDITURES FOR IMPROVING GOVERNMENT-OWNED HOSPITALS, PROVIDING ASSISTANCE TO IMPROVE LIVELIHOODS, AND OPERATING THE NATIONAL CHILDREN'S HOME.
FUTURE WELL KIDS PROGRAM CHARITABLE ACTIVITIES INCLUDE EXPENDITURES FOR ADDRESSING NON-COMMUNICABLE DISEASES IN IRELAND, MEXICO, THE UNITED STATES, COLUMBIA AND THE UNITED KINGDOM.
FUTURE WELL COMMUNITIES PROGRAM CHARITABLE ACTIVITIES INCLUDE EXPENDITURES FOR ADDRESSING THE HEALTH DISPARITIES BY REMOVING THE BARRIERS THAT PREVENT PEOPLE LIVING WITH DIABETES FROM LIVING HEALTHY IN STOCKTON, CALIFORNIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | 1 | $0 | |
Name Not Listed Vice President | 1 | $0 | |
Name Not Listed Secretary | 1 | $0 | |
Name Not Listed Treasurer | 1 | $0 | |
Name Not Listed Assistant Treasurer | 1 | $0 | |
Name Not Listed Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Discovery Education Inc | 12/30/22 | $1,010,000 |
Public Health Institute | 12/30/22 | $406,083 |
Catalysis Llc | 12/30/22 | $279,493 |
Unite Usa Inc | 12/30/22 | $112,500 |
Research Triangle Institute | 12/30/22 | $104,752 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $172,650 |
| Interest on Savings | $274,387 |
| Dividends & Interest | $12,282,761 |
| 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 | $12,729,798 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $175,000 |
| Depreciation | $18,758 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,141,086 |
| Total operating and administrative expenses | $5,403,687 |
| Contributions, gifts, grants paid | $20,782,946 |
| Total expenses and disbursements | $26,186,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,116,733 |
| Savings and temporary cash investments | $27,108,660 |
| 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 | $193,011 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $49,785 |
| Other assets | $6,163 |
| Total assets | $29,782,763 |
| Accounts payable and accrued expenses | $109,360 |
| Grants payable | $2,961,721 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $6,143,546 |
| Total liabilities | $9,214,627 |
Grants Awarded
Over the last fiscal year, Abbott Fund has awarded $23,840,793 in support to 68 organizations.
| Grant Recipient | Amount |
|---|---|
ADELANTE CENTER FOR ENTREPRENEURSHIP PURPOSE: ADELANTE WAUKEGAN YOUTH STEM AGRICULTURE EXPANSION | $66,000 |
ALL FAITHS FOOD BANK INC PURPOSE: AF MATCHING GRANT | $5,000 |
AMERICARES FOUNDATION INC PURPOSE: UKRAINE EMERGENCY RESPONSE | $250,000 |
AMERICARES FOUNDATION INC PURPOSE: VIETNAM PEDIATRIC NUTRITION PROGRAM | $150,000 |
BALTIMORE CHILDRENS MUSEUM INC PURPOSE: PLAYING TODAY, LEADING TOMORROW CAPITAL CAMPAIGN | $50,000 |
AMERICAN ONLINE GIVING FOUNDATION INC PURPOSE: EMPLOYEE GIVING CAMPAIGN | $8,672,472 |