Abbvie Foundation
- Assets
- $72.2m
- Revenue
- $4.0m
- Investments
- $420.9k
- Employees
- 0
- Location
- North Chicago, IL
- Founding
- 11/2013
- Data as of
- 12/2021
- EIN
- 46-0827839
Organization Overview
Abbvie Foundation is located in North Chicago, IL. 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. Abbvie 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 Foundation generated $4.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $44.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Abbvie Foundation has awarded 19,017 individual grants totaling $182,821,208. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Treasurer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Executive Medical Services Pc | 12/30/21 | $1,879,800 |
Simpson Thacher & Bartlett Llp | 12/30/21 | $98,092 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $211 |
| Interest on Savings | $198,099 |
| Dividends & Interest | $3,811,143 |
| 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 | $605 |
| Total Revenue | $4,010,058 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $53,762 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,804,890 |
| Total operating and administrative expenses | $3,038,979 |
| Contributions, gifts, grants paid | $41,728,245 |
| Total expenses and disbursements | $44,767,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $71,774,415 |
| Net Accounts receivable | $15,774 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $72,211,109 |
| Accounts payable and accrued expenses | $2,550 |
| 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 | $2,083,933 |
| Total liabilities | $2,086,483 |
Grants Awarded
Over the last fiscal year, Abbvie Foundation has awarded $41,728,245 in support to 167 organizations.
| Grant Recipient | Amount |
|---|---|
Charleston, SC PURPOSE: MATCHING GRANTS | $12,368,436 |
Washington, DC PURPOSE: UNCF HEALTHCARE WORKFORCE DIVERSITY PROGRAM | $2,400,000 |
YEAR UP INC PURPOSE: YEAR UP: CLOSING THE OPPORTUNITY DIVIDE | $2,000,000 |
Chicago, IL PURPOSE: SHAPING THE FUTURE OF CANCER RESEARCH AND CARE | $2,000,000 |
Santa Barbara, CA PURPOSE: FUND FOR HEALTH EQUITY | $1,900,000 |
Charlotte, NC PURPOSE: ABBVIE EMPLOYEE RELIEF FUND | $1,780,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Caterpillar Foundation Peoria, IL | $93,606,659 | $54,411,827 |
Circle Of Service Foundation Chicago, IL | $697,372,085 | $55,153,209 |
Allstate Foundation Northbrook, IL | $112,475,932 | $31,277,614 |