Abbagadassett Foundation Inc
- Assets
- $10.1m
- Revenue
- $217.5k
- Investments
- $9.3m
- Employees
- 0
- Location
- Bowdoinham, ME
- Founding
- 08/2017
- Data as of
- 12/2022
- EIN
- 82-1749192
Organization Overview
Abbagadassett Foundation Inc is located in Bowdoinham, ME. The organization was established in 2017. 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. Abbagadassett 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 12/2022, Abbagadassett Foundation Inc generated $217.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (13.0%) each year. All expenses for the organization totaled $631.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Abbagadassett Foundation Inc has awarded 19 individual grants totaling $1,512,801. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hannah Ward Director | 1 | $0 | |
Denham Ward Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $170,891 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $46,571 |
| Capital Gain Net Income | $46,571 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $217,462 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $396 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $48,522 |
| Total operating and administrative expenses | $51,431 |
| Contributions, gifts, grants paid | $580,501 |
| Total expenses and disbursements | $631,932 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,659 |
| Savings and temporary cash investments | $765,016 |
| 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 | $10,135,301 |
| 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, Abbagadassett Foundation Inc has awarded $580,501 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Orono, ME PURPOSE: ENGINEERING EDUCATION AND DESIGN CENTER FUND | $200,000 |
ACLU FOUNDATION PURPOSE: TO SUPPORT ORGANIZATION | $170,916 |
MSCC EDUCATION FUND PURPOSE: EDUCATION FUND | $75,000 |
MAINE COMMUNITY FOUNDATION BIPOC PURPOSE: TO SUPPORT ORGANIZATION | $63,335 |
COASTAL MAINE BOTANICAL GARDENS PURPOSE: TO SUPPORT ORGANIZATION | $51,250 |
Augusta, ME PURPOSE: TO SUPPORT ORGANIZATION | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Td Charitable Foundation Falmouth, ME | $0 | $26,328,021 |
P M Allen Family Foundation Hanover, NH | $110,796,013 | $13,365,268 |
Rannie Webster Foundation Rye, NH | $21,769,366 | $13,522,122 |
Elmina B Sewall Foundation Freeport, ME | $198,399,545 | $18,229,129 |
Lunder Foundation Portland, ME | $114,918 | $28,179,943 |
Otto And Fran Walter Foundation Inc Boothbay Harbor, ME | $14,780,673 | $2,403,803 |
The Jack & Dorothy Byrne Foundation Inc Hanover, NH | $178,090 | $5,355,970 |
The Birchtree Center Portsmouth, NH | $2,377,101 | $5,561,187 |
The Bill And Joan Alfond Foundation Portland, ME | $33,512,660 | $6,141,856 |
Friends Of Notre-Dame De Paris Inc Etna, NH | $24,880,670 | $12,372,128 |
Sam L Cohen Foundation Portland, ME | $30,483,258 | $3,967,796 |
Huber Foundation Falmouth, ME | $75,719,525 | $3,696,908 |