Abbvie Foundation
- Assets
- $46.2m
- Revenue
- $12.2m
- Investments
- $420.9k
- Employees
- 0
- Location
- North Chicago, IL
- Founding
- 11/2013
- Data as of
- 12/2022
- 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 12/2022, Abbvie Foundation generated $12.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.2% each year . All expenses for the organization totaled $38.2m during the year ending 12/2022. While expenses have increased by 14.1% per year over the past 8 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, Abbvie Foundation has awarded 19,094 individual grants totaling $220,751,643. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Assistant Treasurer | 1 | $0 | |
Name Not Listed Secretary | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director & President | 4 | $0 | |
Name Not Listed Treasurer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Overture Promotions Inc | 12/30/22 | $124,649 |
Abernathy Macgregor | 12/30/22 | $67,203 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,224,330 |
| Interest on Savings | $881,005 |
| Dividends & Interest | $4,094,257 |
| 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 | $12,199,592 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $65,278 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $158,275 |
| Total operating and administrative expenses | $269,922 |
| Contributions, gifts, grants paid | $37,930,435 |
| Total expenses and disbursements | $38,200,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $45,707,446 |
| Net Accounts receivable | $43,556 |
| 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 | $46,171,922 |
| 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 | $2,048,061 |
| Total liabilities | $2,048,061 |
Grants Awarded
Over the last fiscal year, Abbvie Foundation has awarded $37,930,435 in support to 77 organizations.
| Grant Recipient | Amount |
|---|---|
AFTER SCHOOL MATTERS INC PURPOSE: GENERAL MISSION | $25,000 |
AGARAM FOUNDATION AMERICAS PURPOSE: GENERAL MISSION | $25,000 |
ARDEN SHORE CHILD AND FAMILY SERVICES PURPOSE: GENERAL SUPPORT_BEHAVIORAL HEALTH AND SUPPORT SERVICES | $50,000 |
ASIAN HEALTH COALITION PURPOSE: GENERAL MISSION | $25,000 |
BAYLOR COLLEGE OF MEDICINE INTERNATIONAL PEDIATRIC AIDS INITIATIVE PURPOSE: BIPAI HIV AND GENERAL MISSION SUPPORT | $1,580,000 |
BEACON PLACE NFP PURPOSE: GENERAL MISSION | $175,000 |