Abb Foundation
- Assets
- $82.9k
- Revenue
- $630.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Cary, NC
- Founding
- 07/2015
- Data as of
- 12/2022
- EIN
- 47-4224483
Organization Overview
Abb Foundation is located in Cary, NC. The organization was established in 2015. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Abb 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, Abb Foundation generated $630.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $767.2k during the year ending 12/2022. While expenses have increased by 15.9% per year over the past 7 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 2016, Abb Foundation has awarded 127 individual grants totaling $2,591,844. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Pittman Director And President | 5 | $0 | |
Meg Campbell Secretary | 5 | $0 | |
Michael Gray Director | 5 | $0 | |
Jason Green Director | 5 | $0 | |
John Healy Treasurer | 5 | $0 | |
Chris Shigas Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $629,993 |
| 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 | $629,993 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $767,228 |
| Total expenses and disbursements | $767,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $82,911 |
| Savings and temporary cash investments | $0 |
| 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 | $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 | $82,911 |
| 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, Abb Foundation has awarded $767,228 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS E NC REGION PURPOSE: CHARITABLE GIVING | $4,465 |
E4E RELIEF CO FOUNDATION OF THE CAROLINAS PURPOSE: CHARITABLE GIVING | $675,000 |
EL CENTRO DE CORAZON PURPOSE: CHARITABLE GIVING | $1,628 |
FIRST PURPOSE: CHARITABLE GIVING | $38,000 |
NATIONAL INVENTORS HALL OF FAME INC PURPOSE: CHARITABLE GIVING | $30,000 |
UNITED WAY OF FORT SMITH AREA INC PURPOSE: CHARITABLE GIVING | $1,300 |