Abeka Fund Inc
- Assets
- $7.2m
- Revenue
- $335.8k
- Investments
- $492.9k
- Employees
- 0
- Location
- Pensacola, FL
- Founding
- 05/1988
- Data as of
- 05/2022
- EIN
- 59-2889323
Organization Overview
Abeka Fund Inc is located in Pensacola, FL. The organization was established in 1988. 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. Abeka Fund 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 05/2022, Abeka Fund Inc generated $335.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (26.0%) each year. All expenses for the organization totaled $819.4k during the year ending 05/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE CHRISTIAN EDUCATION AND OTHER CHARITABLE, RELIGIOUS, EDUCATIONAL, AND LITERARY ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED STUDENT LOANS TO COLLEGE STUDENTS WHO REPAY PRINCIPAL AND INTEREST UPON GRADUATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Shoemaker Secretary | OfficerTrustee | 0 | $0 |
James Thompson II CFO | OfficerTrustee | 0 | $0 |
Dr Troy Shoemaker President | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $98,805 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $98,805 |
| Total Program Service Revenue | $228,855 |
| Investment income | $8,167 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $335,827 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $108,677 |
| 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 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,767 |
| Advertising and promotion | $0 |
| Office expenses | $1,374 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $819,356 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $476,473 |
| Savings and temporary cash investments | $285,011 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,254,150 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $676,150 |
| Investments—other securities | $492,943 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,936 |
| Total assets | $7,231,663 |
| Accounts payable and accrued expenses | $218 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $218 |
| Net assets without donor restrictions | $5,775,636 |
| Net assets with donor restrictions | $1,455,809 |
| 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 | $7,231,663 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Abeka Fund Inc has recieved totaling $600,000.
| Awarding Organization | Amount |
|---|---|
Pensacola Christian College Inc Pensacola, FL PURPOSE: GENERAL SUPPORT | $600,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Emergency Assistance Foundation Inc West Palm Beach, FL | $75,784,415 | $87,494,207 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Truist Foundation Inc Orlando, FL | $535,253,915 | $119,578,224 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Leslie L Alexander Foundation Delray Beach, FL | $372,501,228 | $8,282,313 |
Publix Super Markets Charities Inc Lakeland, FL | $259,322,738 | $58,315,085 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |
Goizueta Foundation Inc Atlanta, GA | $444,757,286 | $34,966,270 |