Addison Gibson Foundation
- Assets
- $46.6m
- Revenue
- $4.8m
- Investments
- $43.6m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 06/1940
- Data as of
- 12/2022
- EIN
- 25-0965379
Organization Overview
Addison Gibson Foundation is located in Pittsburgh, PA. The organization was established in 1940. 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. Addison Gibson 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, Addison Gibson Foundation generated $4.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $5.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Addison Gibson Foundation has awarded 42 individual grants totaling $6,882,809. 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
ISSUED SCHOLARSHIPS TO INDIVIDUALS FOR STUDY AT VARIOUS INSTITUTIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Gilbert ESQ Former Co-Trustee | 6 | $20,390 | |
Pnc Bank Na Co-Trustee | 25 | $117,890 | |
Timothy M Slavish Former Co-Trustee | 6 | $20,390 | |
Jerri A Ryan Co-Trustee | 1 | $8,885 | |
Jeffrey Conn Co-Trustee | 1 | $8,885 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,078,511 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $152,177 |
| Capital Gain Net Income | $152,177 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,568,704 |
| Total Revenue | $4,799,392 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $176,440 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $195,543 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $478,581 |
| Total operating and administrative expenses | $883,871 |
| Contributions, gifts, grants paid | $4,575,050 |
| Total expenses and disbursements | $5,458,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $823,092 |
| 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 | $36,980,611 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,201,731 |
| Total assets | $46,607,630 |
| 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, Addison Gibson Foundation has awarded $4,575,050 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF PITTSBURGH PURPOSE: GENERAL SUPPORT | $275,050 |
UPMC EAST PURPOSE: GENERAL SUPPORT | $50,000 |
UPMC MERCY PURPOSE: GENERAL SUPPORT | $75,000 |
SHRINERS HOSPITAL FOR CHILDREN PURPOSE: GENERAL SUPPORT | $75,000 |
UPMC PRESBYTERIAN SHADYSIDE PURPOSE: GENERAL SUPPORT | $200,000 |
ALLEGHENY HEALTH NETWORK PURPOSE: GENERAL SUPPORT | $750,000 |