Nabit Foundation Incorporated
- Assets
- $2.4m
- Revenue
- $375.6k
- Investments
- $2.3m
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 08/1992
- Data as of
- 06/2023
- EIN
- 52-1756376
Organization Overview
Nabit Foundation Incorporated is located in Baltimore, MD. The organization was established in 1992. 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. Nabit Foundation Incorporated 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 06/2023, Nabit Foundation Incorporated generated $375.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $253.7k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Nabit Foundation Incorporated has awarded 180 individual grants totaling $2,210,220. 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
AWARD GRANTS & CONTRIBUTIONS TO OTHER SECTION 501(C)3 ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Merwin J Nabit President | 0 | $0 | |
Charles J Nabit Secretary | 0 | $0 | |
Michael C Hodes Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $13,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $93,028 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $269,585 |
| Capital Gain Net Income | $269,585 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $375,613 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,341 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $69,486 |
| Contributions, gifts, grants paid | $184,250 |
| Total expenses and disbursements | $253,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,124 |
| 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 | $278,380 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,407,795 |
| 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, Nabit Foundation Incorporated has awarded $184,250 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
ACA SCHOLARSHIP FUND FOR CAMP SKYLEMAR PURPOSE: UNRESTRICTED | $1,000 |
B&O RAILROAD MUSEUM PURPOSE: UNRESTRICTED | $1,000 |
BAIS YAAKOV SCHOOL FOR GIRLS PURPOSE: UNRESTRICTED | $1,000 |
BALTIMORE COUNCIL ON FOREIGN AFFAIRS PURPOSE: UNRESTRICTED | $5,000 |
BALTIMORE SQUASHWISE INC PURPOSE: UNRESTRICTED | $1,000 |
BALTIMORE TENNIS PATRONS PURPOSE: UNRESTRICTED | $1,000 |