R&b Abbasi Foundation Inc
- Assets
- $130.0k
- Revenue
- $140.1k
- Investments
- $121.9k
- Employees
- 0
- Location
- Belle Mead, NJ
- Founding
- 12/2016
- Data as of
- 12/2022
- EIN
- 81-3425275
Organization Overview
R&b Abbasi Foundation Inc is located in Belle Mead, NJ. The organization was established in 2016. 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. R&b Abbasi 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 12/2022, R&b Abbasi Foundation Inc generated $140.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $250.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, R&b Abbasi Foundation Inc has awarded 111 individual grants totaling $1,114,335. 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 |
|---|---|---|---|
Bilquis Abbasi Chair, Board Of Trustees | 1 | $0 | |
Muhammad Rashid Abbasi Vice Chair, Board Of Trust | 1 | $0 | |
Sabah Abbasi Treasurer, Board Of Truste | 1 | $0 | |
Omar Abbasi Secretary, Board Of Truste | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,632 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $36,401 |
| Capital Gain Net Income | $36,401 |
| Net ST Capital Gain | $1,230 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $20 |
| Other Income | $0 |
| Total Revenue | $140,053 |
| 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 | $1,918 |
| Total operating and administrative expenses | $4,892 |
| Contributions, gifts, grants paid | $245,720 |
| Total expenses and disbursements | $250,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,977 |
| 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 | $6,046 |
| Total assets | $129,955 |
| 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, R&b Abbasi Foundation Inc has awarded $245,720 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
SAFINA FOUNDATION PURPOSE: DONATION | $50,000 |
Berkeley, CA PURPOSE: DONATION | $32,750 |
NEW BRUNSWICK ISLAMIC CENTER PURPOSE: DONATION | $29,500 |
UNITED PRODUCTION FOUNDATION PURPOSE: DONATION | $25,000 |
Atlantic City, NJ PURPOSE: DONATION | $20,000 |
NOOR-UL-IMAN SCHOOL PURPOSE: DONATION | $19,470 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |
Bristol-Myers Squibb Foundation Inc New York, NY | $146,629,708 | $46,784 |