Abbas Storehouse Foundation
- Assets
- $3.1m
- Revenue
- $3.5m
- Investments
- $2.1m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 09/2013
- Data as of
- 12/2020
- EIN
- 45-4901147
Organization Overview
Abbas Storehouse Foundation is located in Wilmington, DE. The organization was established in 2013. 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. Abbas Storehouse 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 12/2020, Abbas Storehouse Foundation generated $3.5m in total revenue. All expenses for the organization totaled $924.7k during the year ending 12/2020. While expenses have increased by 5.4% per year over the past 6 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 2015, Abbas Storehouse Foundation has awarded 137 individual grants totaling $3,057,569. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL OF PRAYER - FIRST OF THREE IN AN ANNUAL TRAINING SERIES FOR TUCSON'S RELIGIOUS COMMUNITY TO HELP DEVELOP SKILLS & EQUIP PARTICIPANTS WITH TOOLS FOR PERSONAL GROWTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Connie Luebke Dir, Pres*, VP | 2 | $0 | |
Makenna G Luebke Sec, Dir | 1 | $0 | |
Kailee C Luebke Dir | 1 | $0 | |
Richard L Luebke Dir, Vp*, Pres | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,278,483 |
| Interest on Savings | $2,161 |
| Dividends & Interest | $51,361 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $211,721 |
| Capital Gain Net Income | $211,721 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,688 |
| Total Revenue | $3,548,414 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $600 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,699 |
| Printing and publications | $0 |
| Other expenses | $5,315 |
| Total operating and administrative expenses | $23,070 |
| Contributions, gifts, grants paid | $901,644 |
| Total expenses and disbursements | $924,714 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $133,838 |
| 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 | $79,479 |
| Inventories for sale or use | $0 |
| 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 | $850,000 |
| Total assets | $3,142,643 |
| 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, Abbas Storehouse Foundation has awarded $597,930 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
Alpharetta, GA PURPOSE: ABBA'S STOREHOUSE FUND | $250,000 |
4FREEDOM INC PURPOSE: GENERAL & UNRESTRICTED | $100,000 |
Washington, DC PURPOSE: GENERAL & UNRESTRICTED | $50,000 |
GOSPEL RESCUE MISSION INC PURPOSE: UNDERWRITE THE COST OF THE FAMILY PLAYGROUND | $50,000 |
CYSTIC FIBROSIS FOUNDATION PURPOSE: CHARITABLE EVENT | $25,000 |
Tucson, AZ PURPOSE: THE PURCHASE OF GYMNASIUM BLEACHERS | $22,825 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Sarah Scaife Foundation Inc Pittsburgh, PA | $645,014,499 | $79,121,296 |
Prudential Foundation Inc Newark, NJ | $137,651,624 | $53,115,847 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
Aurora Foundation Wilmington, DE | $762,186,529 | $34,829,057 |
Segal Family Foundation Inc Warren, NJ | $106,923,735 | $21,683,461 |
Dietrich Foundation Pittsburgh, PA | $1,425,693,584 | $93,476,192 |