Abyc Foundation Inc
- Assets
- $1.9m
- Revenue
- $372.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Annapolis, MD
- Founding
- 03/1989
- Data as of
- 09/2022
- EIN
- 52-1596605
Organization Overview
Abyc Foundation Inc is located in Annapolis, MD. The organization was established in 1989. According to its NTEE Classification (M40) the organization is classified as: Safety Education, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abyc Foundation Inc 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 09/2022, Abyc Foundation Inc generated $372.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $109.4k during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE AMERICAN BOAT & YACHT COUNCIL, INC.
Describe the Organization's Program Activity:
INVEST AND ADMINISTER GIFTS AND FUNDS
PROVIDE EDUCATION SCHOLARSHIPS, MAINTAIN BOAT FOR TRAINING, AND PROMOTE EDUCATION
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Adey Abyc Preside | Officer | 2 | $0 |
Nancy Cueroni Chair | OfficerTrustee | 1 | $0 |
Peter Chisholm Tech Chair | OfficerTrustee | 1 | $0 |
Christina Paul Treasurer | OfficerTrustee | 1 | $0 |
Derek Rhymes Secretary | OfficerTrustee | 1 | $0 |
Jeff Wasil Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $350,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,082 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $359,082 |
| Total Program Service Revenue | $80,158 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$61,901 |
| Net Gain/Loss on Asset Sales | -$5,337 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $372,002 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,000 |
| Advertising and promotion | $1,980 |
| Office expenses | $48 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $528 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,668 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,249 |
| Insurance | $2,968 |
| All other expenses | $792 |
| Total functional expenses | $109,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,680 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,069 |
| Net Land, buildings, and equipment | $1,886,526 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,947,275 |
| Accounts payable and accrued expenses | $3,542 |
| Grants payable | $0 |
| Deferred revenue | $20,821 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $189,158 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $186,683 |
| Total liabilities | $400,204 |
| Net assets without donor restrictions | $1,527,430 |
| Net assets with donor restrictions | $19,641 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,947,275 |