The Abim Foundation
- Assets
- $92.5m
- Revenue
- $11.5m
- Investments
- $45.1m
- Employees
- 8
- Location
- Philadelphia, PA
- Founding
- 06/1990
- Data as of
- 06/2021
- EIN
- 23-2585181
Organization Overview
The Abim Foundation is located in Philadelphia, PA. The organization was established in 1990. According to its NTEE Classification (G12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 06/2021, Abim Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abim 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 06/2021, Abim Foundation generated $11.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.7% each year . All expenses for the organization totaled $3.0m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Abim Foundation has awarded 51 individual grants totaling $7,896,221. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.AS AN OPERATING CHARITY, THE ABIM FOUNDATION DEVELOPS AND IMPLEMENTS PROJECTS IN SUPPORT OF OUR MISSION TO ADVANCE THE CORE VALUES OF MEDICAL PROFESSIONALISM AS A FORCE TO IMPROVE THE QUALITY OF HEALTH CARE.
Describe the Organization's Program Activity:
OUR WORK IS DEDICATED TO EXPLORING HOW PHYSICIAN LEADERS, HEALTH CARE ORGANIZATIONS AND PUBLIC POLICY MAKERS CAN ADVANCE MEDICAL PROFESSIONALISM THROUGHOUT THE HEALTH CARE SYSTEM IN ORDER TO IMPROVE CARE FOR EVERYONE. THE IDEALS OF PROFESSIONALISM, SUCH AS COMPETENCE AND THE PRIMACY OF PATIENT WELFARE, HAVE BEEN PREVIOUSLY DEFINED IN OUR WIDELY-ADOPTED PHYSICIAN CHARTER. INDIVIDUALS, ORGANIZATIONS, AND THE PROFESSION ALL EXPERIENCE OBSTACLES TO ACHIEVING THESE IDEALS.THROUGH OUR INITIATIVES, WE SEEK TO BETTER UNDERSTAND THESE OBSTACLES AND EXPLORE WAYS TO OVERCOME THEM. MUCH OF OUR WORK FOCUSES ON ADVANCING MEDICAL PROFESSIONALISM IN THE AREA OF THE WISE USE, OR STEWARDSHIP, OF RESOURCES. (CONTINUED ON SCHEDULE O.)THIS INCLUDES THE SUCCESSFUL CHOOSING WISELY CAMPAIGN WHICH HAS RESHAPED HOW PHYSICIANS AND PATIENTS DISCUSS WHETHER OR NOT PARTICULAR SERVICES ARE IN THE BEST INTEREST OF THE PATIENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Wolfson Executive Vice President/coo | Officer | 40 | $437,729 |
Richard J Baron President | OfficerTrustee | 8 | $211,743 |
Timothy Lynch Sr. Director, Foundation Programs | 40 | $173,999 | |
Pamela Browner-White Svp, Communications | Officer | 5 | $42,311 |
Vincent Mandes Senior Vice President/cfo | Officer | 4 | $39,593 |
Christine A Sinsky MD Immed. Past Chair, Chair | OfficerTrustee | 5 | $16,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $239,452 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $239,452 |
| Total Program Service Revenue | $0 |
| Investment income | $1,210,291 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,206 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,012,649 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,488,048 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $373,102 |
| 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. | $999,401 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $641,913 |
| Pension plan accruals and contributions | $56,156 |
| Other employee benefits | $71,157 |
| Payroll taxes | $72,386 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,470 |
| Fees for services: Accounting | $4,778 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $370,777 |
| Advertising and promotion | $79,741 |
| Office expenses | $47,097 |
| Information technology | $5,238 |
| Royalties | $0 |
| Occupancy | $101,062 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $84,106 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,588 |
| All other expenses | $86,207 |
| Total functional expenses | $3,012,179 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,124,071 |
| Savings and temporary cash investments | $3,003 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,724 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $119,389 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $45,120,906 |
| Investments—other securities | $45,100,134 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $92,491,227 |
| Accounts payable and accrued expenses | $487,736 |
| Grants payable | $243,918 |
| Deferred revenue | $0 |
| 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 | $61,794 |
| Total liabilities | $793,448 |
| Net assets without donor restrictions | $91,497,779 |
| Net assets with donor restrictions | $200,000 |
| 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 | $92,491,227 |
Grants Awarded
Over the last fiscal year, The Abim Foundation has awarded $360,615 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: TO SPONSOR AN EVENT TO SUPPORT THEIR MISSION OF ADVANCING THE FIELD OF HEALTH SERVICES RESEARCH BY ACTING AS AN OBJECTIVE BROKER OF INFORMATION, BRINGING TOGETHER STAKEHOLDERS TO ADDRESS THE CURRENT AND FUTURE NEEDS OF AN EVOLVING HEALTH SYSTEM, INFORM HEALTH POLICY AND PRACTICE, AND TRANSLATE EVIDENCE INTO ACTION; TO SUPPORT THE RESEARCH COMMUNITY ON LOW-VALUE CARE PROGRAM - TO CONTINUE OPERATING THE RESEARCH COMMUNITY AND CONSULT WITH THE ABIM FOUNDATION ON MEETINGS RELATED TO TRUST AND LOW VALUE CARE. TO SUPPORT ADVANCING RESEARCH ON TRUST - TO ADVANCE RESEARCH AND INFORM POLICY AND PRACTICE TO IMPROVE TRUST. | $129,939 |
Washington, DC PURPOSE: TO SUPPORT THE NATIONAL ACADEMY OF MEDICINE ACTION COLLABORATIVE ON CLINICIAN RESILIENCE AND WELL-BEING | $38,000 |
San Ramon, CA PURPOSE: TO SUPPORT COVID-19 RELIEF IN INDIA | $25,000 |
Washington, DC PURPOSE: TO EXPLORE THE FEASIBILITY OF ESTIMATING LIVES LOST AND DOLLARS WASTED DUE TO RACIAL, ETHNIC, AND LANGUAGE-BASED DISPARITIES IN HARM FROM PATIENT SAFETY EVENTS | $24,960 |
Garrison, NY PURPOSE: TO SUPPORT THE SURPRISE BILLING AND THE EROSION OF TRUST IN AMERICAN HEALTHCARE PROGRAM, THE PURPOSE OF WHICH IS TO SUPPORT STRATEGIES TO MITIGATE SURPRISE BILLING IN AMERICA ($9,900); TO SUPPORT THE TRUST RESEARCH MEETING - TO LEARN ABOUT SOLUTIONS THAT WORK TO BUILD TRUST AND ABOUT WHAT IS NOT KNOWN YET ON HOW TO ADVANCE TRUST AND SOLVE MISTRUST IN THESE RELATIONSHIPS ($13,464) | $23,364 |
Ann Arbor, MI PURPOSE: TO SUPPORT TRUST RESEARCH MEETING - TO LEARN ABOUT SOLUTIONS THAT WORK TO BUILD TRUST AND ABOUT WHAT IS NOT KNOWN YET ON HOW TO ADVANCE TRUST AND SOLVE MISTRUST IN THESE RELATIONSHIPS | $22,806 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Abim Foundation has recieved totaling $233,442.
| Awarding Organization | Amount |
|---|---|
Josiah Macy Jr Foundation New York, NY PURPOSE: TO SUPPORT A PROJECT ENTITLED, BUILDING TRUST AND EQUITY IN INTER-PROFESSIONAL INTERNAL MEDICINE TRAINING. | $200,000 |
Josiah Macy Jr Foundation New York, NY PURPOSE: THIS AWARD IS TO SUPPORT THE BUILDING TRUST THROUGH DIVERSITY, HEALTH CARE EQUITY, AND INCLUSION IN INTERNAL MEDICINE TRAINING. | $25,000 |
Kaiser Foundation Health Plan Of Washington Oakland, CA PURPOSE: RESEARCH | $8,442 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Service Coordination Unlimited Inc Pittsburgh, PA | $4,474,883 | $7,015,271 |
Eagles Autism Challenge Inc Philadelphia, PA | $4,671,801 | $3,218,137 |
Hope & Heroes Childrens Cancer Fund New York, NY | $6,179,073 | $4,699,771 |
Sharsheret Inc Teaneck, NJ | $13,435,565 | $7,157,553 |
Hope For Haitis Children Ministries Inc Cincinnati, OH | $7,123,949 | $4,468,101 |
The Abim Foundation Philadelphia, PA | $92,491,227 | $11,488,048 |
Bringing Hope Home Inc Malvern, PA | $706,369 | $2,303,858 |
Cookies For Kids Cancer Califon, NJ | $3,410,240 | $2,364,523 |
Southern Chester County Emergency Medical Services Inc Avondale, PA | $1,825,972 | $1,565,526 |
Cool Kids Campaign Foundation Inc Towson, MD | $935,182 | $1,348,951 |
Sharpe-Strumia Research Foundation Of The Bryn Mawr Hospital Bryn Mawr, PA | $25,307,489 | $1,417,708 |
Keep A Child Alive New York, NY | $8,417,069 | $6,592,959 |