Abyc Foundation Inc
- Assets
- $2.1m
- Revenue
- $57.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Annapolis, MD
- Founding
- 03/1989
- Data as of
- 09/2020
- EIN
- 52-1596605
Organization Overview
Abyc Foundation Inc is located in Annapolis, MD. The organization was established in 1989. According to its NTEE Classification (M40) the organization is classified as: Safety Education, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abyc 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 09/2020, Abyc Foundation Inc generated $57.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (17.7%) each year. All expenses for the organization totaled $150.9k during the year ending 09/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE AMERICAN BOAT & YACHT COUNCIL, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INVEST AND ADMINISTER GIFTS AND FUNDS
PROVIDE EDUCATION SCHOLARSHIPS, MAINTAIN BOAT FOR TRAINING, AND PROMOTE EDUCATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Adey Secretary | OfficerTrustee | 5 | $0 |
Joseph Charles Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $72,424 |
| Investment income | $38 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$73,625 |
| Net Gain/Loss on Asset Sales | -$1,189 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $57,648 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,000 |
| Advertising and promotion | $600 |
| Office expenses | $1,043 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,224 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,710 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,953 |
| Insurance | $2,599 |
| All other expenses | $0 |
| Total functional expenses | $150,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,910 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $19,610 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,112,010 |
| Accounts payable and accrued expenses | $7,010 |
| Grants payable | $0 |
| 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 | $605,963 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $124,580 |
| Total liabilities | $737,553 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,374,457 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Abyc Foundation Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Kathy Jerry Wood Foundation Inc Annapolis, MD PURPOSE: TO PROVIDE RESOURCES TO THE YOUTH AND TALENT FOR BOATING INDUSTRY | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Recreational Boating And Fishing Foundation Alexandria, VA | $1,596,637 | $14,302,457 |
Aopa Foundation Frederick, MD | $41,979,653 | $10,384,598 |
Safety Equipment Institute Mclean, VA | $3,866,631 | $5,093,632 |
Chesapeake Region Safety Council Inc Windsor Mill, MD | $1,688,026 | $5,136,301 |
Americans For Carbon Dividends Inc Washington, DC | $5,055,754 | $2,851,324 |
Boat Us Foundation Annapolis, MD | $2,787,236 | $3,240,469 |
Rostraver West Newton Ems Belle Vernon, PA | $4,144,119 | $3,922,613 |
Flight Safety Foundation Inc Alexandria, VA | $3,531,593 | $3,156,585 |
National Center For Healthy Housing Inc Columbia, MD | $1,040,188 | $2,049,917 |
Danville Area Training Center Inc Danville, VA | $966,057 | $2,354,656 |
International Safety Equipment Association Arlington, VA | $3,445,033 | $2,156,842 |
Institute Of Makers Of Explosives Washington, DC | $1,377,958 | $1,262,584 |