Abell-Hanger Foundation
- Assets
- $131.8m
- Revenue
- $12.6m
- Investments
- $122.3m
- Employees
- 0
- Location
- Midland, TX
- Founding
- 09/1955
- Data as of
- 06/2023
- 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 06/2023, Abell-Hanger Foundation generated $12.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $11.1m during the year ending 06/2023. While expenses have increased by 0.7% per year over the past 6 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 2018, Abell-Hanger Foundation has awarded 1,937 individual grants totaling $47,687,924. 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
GRANTS TO 326 ORGANIZATIONS
OPERATING AND ADMINISTRATIVE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack F Harper Trustee | 4 | $0 | |
James C Trott Trustee | 4 | $0 | |
John Bergman Trustee | 4 | $0 | |
Richard Coats Trustee | 4 | $0 | |
Laura Roman Trustee | 4 | $0 | |
Elaine Magruder Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $56,446 |
| Dividends & Interest | $4,118,292 |
| Net Rental Income | $20,020 |
| Net Gain on Sale of Assets | $3,190,826 |
| Capital Gain Net Income | $3,190,826 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,260,216 |
| Total Revenue | $12,645,800 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $531,190 |
| Other employee salaries and wages | $412,373 |
| Pension plans, employee benefits | $175,714 |
| Interest | $0 |
| Taxes | $588,981 |
| Depreciation | $412,071 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $35,140 |
| Printing and publications | $1,326 |
| Other expenses | $378,364 |
| Total operating and administrative expenses | $2,670,618 |
| Contributions, gifts, grants paid | $8,421,466 |
| Total expenses and disbursements | $11,092,084 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,186 |
| Savings and temporary cash investments | $1,729,044 |
| 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 | $3,100,021 |
| Other assets | $4,309,879 |
| Total assets | $131,754,851 |
| 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 $8,421,466 in support to 325 organizations.
| Grant Recipient | Amount |
|---|---|
ADVOCATES FOR CAMP ABLE PURPOSE: FOR UNRESTRICTED GENERAL OPERATING SUPPORT | $15,000 |
ALZHEIMER'S ASSOCIATION GREATER WEST TEXAS CHAPTER PURPOSE: FOR THE HEALTHY LIVING: PATHWAY TO HOPE CONTINUES EVENT | $5,000 |
AMERICAN NATIONAL RED CROSS PURPOSE: TO SUPPORT THE OPERATIONS OF THE PERMIAN BASIN CHAPTER | $30,000 |
AMERICA'S WARRIOR PARTNERSHIP PURPOSE: FOR THE WARRIORSERVE PROGRAM OF THE PERMIAN BASIN AREA | $150,000 |
AMERICA'S WARRIOR PARTNERSHIP PURPOSE: FOR THE WARRIORSERVE PROGRAM OF THE PERMIAN BASIN AREA | $170,000 |
ANGELO STATE UNIVERSITY PURPOSE: SPRING 2023 INDIVIDUAL STUDENT SCHOLARSHIPS | $5,523 |