American Bankruptcy Institute
- Assets
- $21.5m
- Revenue
- $10.5m
- Investments
- $0.0
- Employees
- 37
- Location
- Alexandria, VA
- Founding
- 04/1999
- Data as of
- 12/2023
- EIN
- 52-1295453
Organization Overview
American Bankruptcy Institute is located in Alexandria, VA. The organization was established in 1999. According to its NTEE Classification (B05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Education and related organizations. As of 12/2023, American Bankruptcy Institute employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Bankruptcy Institute 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 12/2023, American Bankruptcy Institute generated $10.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $9.7m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, American Bankruptcy Institute has awarded 14 individual grants totaling $1,445,600. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
CONFERENCES AND MEETINGS: ABI HOLDS TWO NATIONAL MEMBERSHIP MEETINGS AND MANY REGIONAL CONFERENCES THROUGHOUT THE YEAR. THESE MEETINGS OFFER A CONCENTRATED OPPORTUNITY FOR THE EXCHANGE OF IDEAS, DISCUSSIONS OF FINDINGS AMONG COLLEAGUES, AND CONTINUING LEGAL EDUCATION.
RESEARCH PROJECTS AND GRANTS: ABI PROVIDES FUNDING AND SCHOLARSHIPS TO ENHANCE BANKRUPTCY RESEARCH AND EDUCATION.
PUBLICATIONS AND OTHER SALES: ABI PRODUCES VARIOUS PUBLICATIONS AND JOURNALS THAT REPRESENT ITS COMMITMENT TO THE ONGOING ENHANCEMENT OF QUALITY EDUCATION ON INSOLVENCY TOPICS. ADDITIONALLY, ABI MAINTAINS A COMPREHENSIVE INTERNET SITE COVERING INSOLVENCY ISSUES AND PROVIDING INSTANT UPDATES ON LEGISLATION, NEW FILINGS, SUPREME COURT CASES, BANKRUPTCY FILING STATISTICS, AND DAILY BANKRUPTCY NEWS.
MEMBERSHIP SERVICES: ABI PROVIDES ONGOING SERVICES TO ITS MEMBERS IN ORDER TO PROVIDE A BROAD, IN-DEPTH RESOURCE OF INSOLVENCY ISSUES AND RELATED SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert P Reynolds Chairman | OfficerTrustee | 5 | $0 |
Kevin J Carey Immediate Past President | OfficerTrustee | 5 | $0 |
Soneet R Kapila President | OfficerTrustee | 5 | $0 |
Christopher A Ward President Elect | OfficerTrustee | 5 | $0 |
Paul Hage Secretary | OfficerTrustee | 5 | $0 |
William H Henrich Treasurer | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sc&h Group Inc Accounting Services | 12/30/23 | $272,039 |
Web Mettle Llc Web Hosting Services | 12/30/23 | $144,760 |
St Croix Press Inc Print Communications | 12/30/23 | $140,238 |
Breakers Palm Beach Inc Event | 12/30/23 | $137,400 |
Vision Creative Audio/video Production | 12/30/23 | $100,040 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $54,815 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $176,724 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $231,539 |
| Total Program Service Revenue | $9,749,227 |
| Investment income | $364,784 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $102,986 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $22,844 |
| Net Income from Fundraising Events | -$18,447 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,461,246 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,084 |
| Grants and other assistance to domestic individuals. | $14,011 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $977,964 |
| Compensation of current officers, directors, key employees. | $675,599 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,863,585 |
| Pension plan accruals and contributions | $117,333 |
| Other employee benefits | $208,672 |
| Payroll taxes | $251,112 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $256,985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,924 |
| Fees for services: Other | $290,659 |
| Advertising and promotion | $31,679 |
| Office expenses | $737,829 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $414,730 |
| Travel | $199,964 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,088,009 |
| Interest | $11,397 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,050 |
| Insurance | $14,192 |
| All other expenses | $46,364 |
| Total functional expenses | $9,703,302 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,158,632 |
| Savings and temporary cash investments | $1,792,244 |
| Pledges and grants receivable | $24,688 |
| Accounts receivable, net | $423,678 |
| 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 | $398,301 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,566,927 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $94,068 |
| Total assets | $21,458,538 |
| Accounts payable and accrued expenses | $939,046 |
| Grants payable | $0 |
| Deferred revenue | $2,604,479 |
| 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 | $0 |
| Total liabilities | $3,543,525 |
| Net assets without donor restrictions | $17,769,095 |
| Net assets with donor restrictions | $145,918 |
| 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 | $21,458,538 |
Grants Awarded
Over the last fiscal year, American Bankruptcy Institute has awarded $45,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UC HASTINGS COLLEGE OF LAW PURPOSE: BANKRUPTCY RESEARCH GRANT | $35,000 |
BROOKLYN LAW SCHOOL PURPOSE: YOUNG SCHOLARS PROGRAM | $10,000 |