Abell-Hanger Foundation
- Assets
- $130.2m
- Revenue
- $12.3m
- Investments
- $119.9m
- Employees
- 0
- Location
- Midland, TX
- Founding
- 09/1955
- Data as of
- 06/2022
- EIN
- 75-6020781
Organization Overview
Abell-Hanger Foundation is located in Midland, TX. The organization was established in 1955. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abell-Hanger 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 06/2022, Abell-Hanger Foundation generated $12.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $10.5m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Abell-Hanger Foundation has awarded 1,612 individual grants totaling $39,266,458. 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
GRANTS TO 140 ORGANIZATIONS
OPERATING AND ADMINISTRATIVE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Palmer Executive VP | 40 | $281,190 | |
Wade Kuehler CFO | 40 | $211,300 | |
Helga Hoban Program Officer | 40 | $121,950 | |
Bobbie Chappell Assistant Treasurer | 40 | $121,368 | |
Jack F Harper Trustee | 4 | $0 | |
James C Trott Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $5,049 |
| Dividends & Interest | $4,266,789 |
| Net Rental Income | $20,245 |
| Net Gain on Sale of Assets | $4,703,167 |
| Capital Gain Net Income | $4,572,769 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,267,573 |
| Total Revenue | $12,262,823 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $492,490 |
| Other employee salaries and wages | $243,318 |
| Pension plans, employee benefits | $146,584 |
| Interest | $0 |
| Taxes | $435,656 |
| Depreciation | $447,195 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $36,832 |
| Printing and publications | $1,730 |
| Other expenses | $308,572 |
| Total operating and administrative expenses | $2,244,583 |
| Contributions, gifts, grants paid | $8,285,251 |
| Total expenses and disbursements | $10,529,834 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,484,041 |
| 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 | $241,365 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $3,200,973 |
| Other assets | $4,342,771 |
| Total assets | $130,201,135 |
| 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, Abell-Hanger Foundation has awarded $8,285,251 in support to 347 organizations.
| Grant Recipient | Amount |
|---|---|
Midland, TX PURPOSE: FOR THE PRE-KINDERGARTEN ACADEMY AND CENTER FOR TEACHING EXCELLENCE AT MIDLAND COLLEGE | $1,000,000 |
ODESSA COLLEGE FOUNDATION PURPOSE: FOR THE WOOD HEALTH SCIENCES BUILDING CAPITAL CAMPAIGN | $500,000 |
Midland, TX PURPOSE: FOR PHASE 1 INFRASTRUCTURE COST OF HILLCREST VILLAGE | $400,000 |
WEST TEXAS FOOD BANK PURPOSE: FOR EXPANSION OF THE ODESSA FACILITY | $375,000 |
Midland, TX PURPOSE: FOR THE LOBBY RENOVATION, EDUCATION EXPANSION, AND TECHNOLOGY UPGRADE | $250,000 |
Arlington, TX PURPOSE: FOR THE CONSTRUCTION OF NATIONAL MEDAL OF HONOR MUSEUM | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brazos Education Loan Authority Inc Waco, TX | $1,464,923,579 | $48,416,543 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Brazos Higher Education Authority Inc Waco, TX | $991,731,055 | $31,545,196 |
Terry Foundation Houston, TX | $405,880,401 | $20,877,529 |
At&t Foundation Dallas, TX | $30,306,998 | $4,969 |
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
American Indian Graduate Center Inc Albuquerque, NM | $28,393,677 | $10,605,933 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |
Abell-Hanger Foundation Midland, TX | $130,201,135 | $12,262,823 |
J F Maddox Foundation Hobbs, NM | $240,372,497 | $15,567,055 |