Adames Foundation
- Assets
- $9.1m
- Revenue
- $256.8k
- Investments
- $6.2m
- Employees
- 0
- Location
- Bethesda, MD
- Founding
- 12/2019
- Data as of
- 12/2022
- EIN
- 84-3265498
Organization Overview
Adames Foundation is located in Bethesda, MD. The organization was established in 2019. 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. Adames 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 12/2022, Adames Foundation generated $256.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (60.0%) each year. All expenses for the organization totaled $560.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Adames Foundation has awarded 25 individual grants totaling $928,500. 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
ON OCTOBER 25, 2022, THE FOUNDATION PURCHASED A PROPERTY LOCATED AT 7310 GEORGIA AVENUE, WEST PALM BEACH, FLORIDA 33401. THE PROPERTY IS UNDERGOING RENOVATIONS AND WILL BE USED TO PROVIDE ACCESS TO GOLF AND GOLF TRAINING FOR UNDERPRIVILEGED CHILDREN AND ADULTS.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $250,000 |
| Interest on Savings | $1,957 |
| Dividends & Interest | $89,342 |
| Net Rental Income | $5,300 |
| Net Gain on Sale of Assets | -$89,773 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $256,826 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,754 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,526 |
| Total operating and administrative expenses | $85,628 |
| Contributions, gifts, grants paid | $475,000 |
| Total expenses and disbursements | $560,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $72,042 |
| 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 | $4,628,734 |
| Net Land, buildings, and equipment | $2,800,025 |
| Other assets | $98 |
| Total assets | $9,081,029 |
| 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, Adames Foundation has awarded $475,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
WEST PALM GOLF COMMUNITY TRUST INC PURPOSE: WEST PALM GOLF PARK | $250,000 |
JANE STERN DORADO COMMUNITY LIBRARY PURPOSE: ENDOWMENT TRUST | $10,000 |
BOYS & GIRLS CLUB OF PUERTO RICO PURPOSE: LEGACY COUNCIL | $50,000 |
FUNDACION CORTES INC PURPOSE: 10TH YEAR ANNIVERSARY | $10,000 |
RAIN AND ROSE CHARITABLE FUND PURPOSE: CHARITABLE INITIATIVES | $50,000 |
TOP 10 FOUNDATION PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |