Abbitt Family Foundation
- Assets
- $3.2m
- Revenue
- $274.1k
- Investments
- $3.0m
- Employees
- 0
- Location
- Newport News, VA
- Founding
- 05/1986
- Data as of
- 07/2022
- EIN
- 52-1441636
Organization Overview
Abbitt Family Foundation is located in Newport News, VA. The organization was established in 1986. 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. Abbitt Family 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 07/2022, Abbitt Family Foundation generated $274.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $491.7k during the year ending 07/2022. While expenses have increased by 4.2% per year over the past 5 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.
Since 2015, Abbitt Family Foundation has awarded 145 individual grants totaling $1,578,056. 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 |
|---|---|---|---|
Stephen M Abbitt VP S T | 0 | $0 | |
Matthew M Abbitt Asst S T | 0 | $0 | |
Carolyn S Abbitt Pres | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $152,713 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $121,436 |
| Capital Gain Net Income | $121,436 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $274,149 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,527 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $38,803 |
| Contributions, gifts, grants paid | $452,917 |
| Total expenses and disbursements | $491,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $209,862 |
| 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 | $3,224,853 |
| 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, Abbitt Family Foundation has awarded $452,917 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
VA LIVING MUSEUM PURPOSE: GENERAL CHARITABLE | $125,000 |
Newport News, VA PURPOSE: GENERAL CHARITABLE | $75,000 |
Richmond, VA PURPOSE: GENERAL CHARITABLE | $68,000 |
CNUEF PURPOSE: GENERAL CHARITABLE | $28,500 |
HABITAL FOR HUMANITY PURPOSE: GENERAL CHARITABLE | $21,250 |
JAMESTOWN YORKTOWN FDN PURPOSE: GENERAL CHARITABLE | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
Msi-Us Washington, DC | $1,301,607 | $71,292,993 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Bhp Foundation Washington, DC | $309,092,778 | $68,102,954 |
Wyss Medical Foundation Inc Washington, DC | $41,278,790 | $827,503 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
Bainum Family Foundation Bethesda, MD | $0 | $60,288,788 |