Adib Foundation Inc
- Assets
- $2.5m
- Revenue
- $336.8k
- Investments
- $2.5m
- Employees
- 0
- Location
- New York, NY
- Founding
- 04/2015
- Data as of
- 12/2022
- EIN
- 47-2630025
Organization Overview
Adib Foundation Inc is located in New York, NY. The organization was established in 2015. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Adib 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, Adib Foundation Inc generated $336.8k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $143.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Adib Foundation Inc has awarded 29 individual grants totaling $337,392. 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 |
|---|---|---|---|
Shabbir Adib President | 1 | $0 | |
Ruby Adib Vice President/treasurer | 1 | $0 | |
Taha Adib Secretary | 1 | $0 | |
Rakesh V Chodari Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $35,000 |
| Interest on Savings | $1,421 |
| Dividends & Interest | $28,013 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $272,323 |
| Capital Gain Net Income | $272,323 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $336,757 |
| 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 | $8,892 |
| Total operating and administrative expenses | $13,242 |
| Contributions, gifts, grants paid | $130,356 |
| Total expenses and disbursements | $143,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,721 |
| 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 | $0 |
| Total assets | $2,512,478 |
| 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, Adib Foundation Inc has awarded $130,356 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN DIABETES ASSOCIATION PURPOSE: GENERAL SUPPORT | $500 |
SOCIETY FOR RURAL ASSISTANCE PURPOSE: GENERAL SUPPORT | $2,500 |
SUSAN G HOMEN PURPOSE: GENERAL SUPPORT | $150 |
IMAMIA MEDICS INTERN PURPOSE: GENERAL SUPPORT | $2,500 |
LYMPHOMA RESEARCH PURPOSE: GENERAL SUPPORT | $500 |
AMERICAN NEAR EAST PURPOSE: GENERAL SUPPORT | $500 |