Abet Foundation Inc

The Abet Foundation Inc is a U.S. nonprofit organization with an Employer Identification Number (EIN) of 263542581. It falls under the category of Science and Technology Research Institutes and Services, as well as Single Organization Support, classified under the NTEE system[1].

Purpose and Activities

While specific details about its mission are not readily available, the Abet Foundation Inc is generally involved in activities related to science and technology. The organization likely supports initiatives or provides services that align with these fields, though its exact purposes and scope of activities require further clarification.

Financial Overview

The financial data for the Abet Foundation Inc shows that the organization primarily relies on program services for its revenue. In its fiscal year ending December 2022, it reported $81,400 in program services revenue, which constituted 98.8% of its total revenue. Contributions were minimal, with only $1,000 reported. The organization had total assets of $244,749 and total liabilities of $70,723 during the same period[1].

In the fiscal year ending December 2021, the organization derived all its revenue from program services, amounting to $39,050, with no contributions or other significant revenue sources. Total assets were $243,734, and liabilities were $63,150[1].

Governance

The Abet Foundation Inc lists several directors and officers, including David Kelly as President, Karan Watson as Secretary/Treasurer, and others like Sarah Rajala, Brett Anderson, William Murphy, Mary Kasarda, and Hamid Fonooni as directors. Notably, none of these individuals received compensation according to the available data[1].

Tax Deductibility

Donations to the Abet Foundation Inc are tax-deductible, which suggests that it holds a 501(c)(3) status, though specific information confirming this is not available[1].