Abbey Foundation Of Oregon
- Assets
- $45.7m
- Revenue
- $9.0m
- Investments
- $630.3k
- Employees
- 0
- Location
- Saint Benedict, OR
- Founding
- 04/2008
- Data as of
- 06/2023
- EIN
- 04-3703021
Organization Overview
Abbey Foundation Of Oregon is located in Saint Benedict, OR. The organization was established in 2008. 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. Abbey Foundation Of Oregon 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, Abbey Foundation Of Oregon generated $9.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $4.9m during the year ending 06/2023. While expenses have increased by 0.1% per year over the past 8 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE FINANCIAL VITALITY OF MOUNT ANGEL ABBEY.
Describe the Organization's Program Activity:
THE ABBEY FOUNDATION OF OREGON WAS ESTABLISHED TO SUPPORT THE WORK OF MT. ANGEL ABBEY, INCLUDING THE MT. ANGEL MONASTERY, SEMINARY, LIBRARY AND GUEST HOUSE. MT. ANGEL ABBEY IS A MONASTIC COMMUNITY FORMED IN 1882 WHICH OPERATES THE SECOND LARGEST CATHOLIC SEMINARY IN THE UNITED STATES. THE FOUNDATION PROVIDES GRANTS TO MT. ANGEL ABBEY AND OPERATES PRIMARILY IN THREE AREAS: OPERATING SUPPORT: THE FOUNDATION MAKES GRANTS TO MT. ANGEL ABBEY TO HELP UNDERWRITE THE COST OF EDUCATION FOR SEMINARIANS AT THE MT. ANGEL SEMINARY. CAPITAL SUPPORT: THE FOUNDATION RAISES FUNDS FOR THE VARIOUS CAPITAL NEEDS OF MT. ANGEL ABBEY. ENDOWMENT SUPPORT: THE FOUNDATION ALSO ADMINISTERS A NUMBER OF ENDOWMENTS CREATED BY GIFTS FROM DONORS IN SUPPORT OF MT. ANGEL ABBEY AND ITS PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Limb President | OfficerTrustee | 1 | $0 |
James Zuiches Vice President | OfficerTrustee | 1 | $0 |
Donald Williams Secretary | OfficerTrustee | 1 | $0 |
John Meek Past President | OfficerTrustee | 1 | $0 |
Rev Martin Grassel Osb Treasurer | OfficerTrustee | 1 | $0 |
Sister Adele Maries Altenofen Ssmo Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $217,462 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,095,474 |
| Noncash contributions included in lines 1a–1f | $1,256,196 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,312,936 |
| Total Program Service Revenue | $0 |
| Investment income | $923,666 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $321,585 |
| Net Gain/Loss on Asset Sales | $689,807 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,994,095 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,769,879 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $164,666 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,133 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $64,873 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,907 |
| All other expenses | $8,105 |
| Total functional expenses | $4,938,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,011,123 |
| Pledges and grants receivable | $8,516 |
| Accounts receivable, net | $200,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $181,658 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $410,569 |
| Investments—publicly traded securities | $41,078,884 |
| Investments—other securities | $630,282 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $146,964 |
| Total assets | $45,667,996 |
| Accounts payable and accrued expenses | $192,718 |
| Grants payable | $0 |
| Deferred revenue | $10,356 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,505,192 |
| Total liabilities | $1,708,266 |
| Net assets without donor restrictions | $17,450,264 |
| Net assets with donor restrictions | $26,509,466 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $45,667,996 |