Adams Thermal Systems Foundation
- Assets
- $950.9k
- Revenue
- $914.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Canton, SD
- Founding
- 02/2014
- Data as of
- 12/2023
- EIN
- 46-3258806
Organization Overview
Adams Thermal Systems Foundation is located in Canton, SD. The organization was established in 2014. 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. Adams Thermal Systems 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 12/2023, Adams Thermal Systems Foundation generated $914.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $989.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Adams Thermal Systems Foundation has awarded 63 individual grants totaling $1,166,706. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
ATS FOUNDATION CURRENTLY HAS TWO SCHOOLS IN ETHIOPIA. THESE SCHOOLS PROVIDE EDUCATION, FOOD, SELF-HELP EDUCATION, AND SOME MEDICAL SUPPORT FOR EXTREMELY POOR FAMILIES IN THE HOSANNA AND OTTORO AREAS OF ETHIOPIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Adams President/treasurer | 15 | $0 | |
Kim Adams Vice President | 5 | $0 | |
Tad Anderson Secretary | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $914,787 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| 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 | $914,787 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $477,841 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $18,633 |
| Occupancy | $8,092 |
| Travel, conferences, and meetings | $79,399 |
| Printing and publications | $0 |
| Other expenses | $396,402 |
| Total operating and administrative expenses | $989,648 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $989,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,426 |
| Savings and temporary cash investments | $98,992 |
| Net Accounts receivable | $3,793 |
| Net Pledges Receivable | $11,194 |
| 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 | $12,008 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $747,440 |
| Other assets | $0 |
| Total assets | $950,853 |
| Accounts payable and accrued expenses | $157,814 |
| 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 | $1,341 |
| Total liabilities | $159,155 |
Grants Awarded
Over the last fiscal year, Adams Thermal Systems Foundation has awarded $4,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ETHIOPIAN EVANGELICAL CHURCHES FELLOWSHIP INC PURPOSE: ETHIOPIAN FOUNDATION DONATION | $1,000 |
ST LUKE'S HEALTH CARE FOUNDATION PURPOSE: WHEELCHAIR MINISTRY IN ETHIOPIA | $3,000 |