The Abac Advancement Foundation Inc
- Assets
- $49.3k
- Revenue
- $385.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Tifton, GA
- Founding
- 11/2009
- Data as of
- 06/2022
- EIN
- 80-0372940
Organization Overview
The Abac Advancement Foundation Inc is located in Tifton, GA. The organization was established in 2009. According to its NTEE Classification (K11) the organization is classified as: Single Organization Support, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abac Advancement 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 06/2022, Abac Advancement Foundation Inc generated $385.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $431.8k during the year ending 06/2022. While expenses have increased by 4.6% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ABAC ADVANCEMENT FOUNDATION IS TO ASSIST, SUPPORT, AND FURTHER THE RESEARCH, SERVICE AND EDUCATIONAL MISSIONS OF ABRAHAM BALDWIN AGRICULTURAL COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF EDUCATIONAL ACTIVITIES TO FURTHER THE EDUCATIONAL EXPERIENCES OF THE STUDENTS AT ABRAHAM BALDWIN AGRICULTURAL COLLEGE BY SECURING GRANTS FOR SPONSORED RESEARCH AND SERVICE ACTIVITIES ON BEHALF OF THE COLLEGE, AND SUBCONTRACTING WITH THE COLLEGE THE PERFORMANCE OF SPONSORED RESEARCH PROJECTS AND SERVICE DELIVERY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deidra Jackson Vice Chair/t | OfficerTrustee | $0 | |
Dr Amy P Willis Chairperson | OfficerTrustee | $0 | |
Dr Michael Kirkland Secretary | OfficerTrustee | $0 | |
Dr Tracy Brundage Director | Trustee | $0 | |
Dr Richard Tony Matthews Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $266,544 |
| All other contributions, gifts, grants, and similar amounts not included above | $119,146 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $385,690 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $385,690 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $430,829 |
| 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 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 | $875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $85 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $431,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,295 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $49,295 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $49,295 |
| 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 | $49,295 |
Grants Awarded
Over the last fiscal year, The Abac Advancement Foundation Inc has awarded $402,479 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ABRAHAM BALDWIN AGRICULTURAL COLLEG PURPOSE: EDUCATIONAL ACTIVITI | $360,593 |
Waleska, GA PURPOSE: TRSFR STEWARDSHIP OF | $41,886 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Florida Food Force Inc Odessa, FL | $2,063,292 | $12,410,340 |
Acfb Support Organization Inc Atlanta, GA | $40,862,639 | $446,458 |
The Abac Advancement Foundation Inc Tifton, GA | $49,295 | $385,690 |
Alabama Restaurant & Hospitality Association Foundation Montgomery, AL | $737,693 | $645,039 |
Loaves And Fishes Of Hobe Sound Inc Hobe Sound, FL | $115,193 | $0 |
Jones Valley Teaching Farm Center For Food Education Birmingham, AL | $10,690,128 | $605,550 |
Alumni Association Of The Wedgworth Leadership Institute For Tampa, FL | $59,152 | $0 |
Boca Helping Hands Endowment Fund Inc Boca Raton, FL | $7,668,007 | $1,387,184 |
Cooking Well Birmingham, AL | $89,309 | $0 |
Lowcountry Food Bank Endowment Fund Charleston, SC | $1,110,926 | $1,111,683 |
Auburn University Landscape And Nursery Association Auburn University, AL | $83,379 | $0 |
Three Magnolias Family Foundation Inc Chattahoochee Hill, GA | $731,072 | $735,073 |