Nonprofit · EIN 57-1147865
ABANA FOUNDATION INC
Tax-exempt · NEW YORK, NY 10170
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $499,503 | $288,730 | $210,773 | $1,385,635 | $56,401 | $1,329,234 |
| December 31, 2023 | 990 | $1,218,387 | $105,455 | $1,112,932 | $1,130,864 | $17,932 | $1,112,932 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $484,266
- Program service revenue
- $0
- Investment income
- $49,626
- Net income from fundraising events
- -$34,389
- Other revenue
- -$34,389
Expenses
- Grants and similar amounts paid
- $75,000
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $121,519
- Salaries, compensation and benefits (total)
- $138,989
- Professional fundraising fees
- $0
- Legal fees
- $10,112
- Accounting fees
- $19,109
- Occupancy
- $14,428
- Travel
- $240
- Program services (functional)
- $75,000
- Management and general (functional)
- $213,369
- Fundraising (functional)
- $361
Balance sheet and other
- Total assets, start of year
- $1,130,864
- Total assets, end of year
- $1,385,635
- Total liabilities, end of year
- $56,401
- Net assets, end of year
- $1,329,234
- Publicly traded securities
- $1,315,961
- Net assets without donor restrictions
- $713,484
- Net assets with donor restrictions
- $615,750
- Gross receipts
- $591,022
- Employees
- 0
- Year formed
- 2002
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Amr Nosseir | Director Trustee or director, Officer | 1 | $0 |
| Joud Abdel Majeid | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| Hamza Fassi-Fehri | Director Trustee or director, Officer | 1 | $0 |
| Ferris Hussein | Vice Chair Trustee or director, Officer | 2 | $0 |
| Karim Baghdady | Treasurer Trustee or director, Officer | 2 | $0 |
| Marwan Azzi | Chairman Trustee or director, Officer | 3 | $0 |
| Amal Moussa | Director Trustee or director | 1 | $0 |
| Carolyn S Weimer | Director Trustee or director | 1 | $0 |
| Hania Dawood | Director Trustee or director | 1 | $0 |
| Heather Ibrahim-Leathers | Director Trustee or director | 1 | $0 |
| Laura Osman | Secretary Trustee or director, Officer | 2 | $0 |
| Lotfi Karoui | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| Marwan Elaraby | Director Trustee or director | 1 | $0 |
| May Nasrallah | Director Trustee or director | 1 | $0 |
| Mona DAJANI | Director Trustee or director | 1 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Nicolas J Kahale | Director Trustee or director | 1 | $0 |
| Omar Jabri | Director Trustee or director | 1 | $0 |
| Thana Al-Mufarrej | Director Trustee or director | 1 | $0 |
| Zubaid Ahmad | Director Trustee or director | 1 | $0 |
| KHALID AZIM | President Officer | 40 | $0 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Amr Nosseir | Chairman Trustee or director, Officer | 8 | $0 |
| Joud Abdel Majeid | Treasurer Trustee or director, Officer | 3 | $0 |
| Hamza Fassi-Fehri | Vice Chair Trustee or director, Officer | 3 | $0 |
| Ferris Hussein | Vice Chair Trustee or director, Officer | 3 | $0 |
| Karim Baghdady | Treasurer Trustee or director, Officer | 5 | $0 |
| Marwan Azzi | Secretary Trustee or director, Officer | 3 | $0 |
| Amal Moussa | Director Trustee or director | 2 | $0 |
| Carolyn S Weimer | Director Trustee or director | 2 | $0 |
| Hania Dawood | Director Trustee or director | 2 | $0 |
| Heather Ibrahim-Leathers | Director Trustee or director | 0 | $0 |
| Laura Osman | Director Trustee or director | 2 | $0 |
| Lotfi Karoui | Director Trustee or director | 2 | $0 |
| Marwan Elaraby | Director Trustee or director | 2 | $0 |
| May Nasrallah | Director Trustee or director | 2 | $0 |
| Mona Al-Saffy | Director Trustee or director | 2 | $0 |
| Nicolas J Kahale | Director Trustee or director | 2 | $0 |
| Ola El-Shawarby | Director Trustee or director | 2 | $0 |
| Omar Jabri | Director Trustee or director | 2 | $0 |
| Thana Al-Mufarrej | Director Trustee or director | 2 | $0 |
| Zubaid Ahmad | Director Trustee or director | 2 | $0 |
| KHALID AZIM | President Officer | 13 | $0 |
Address and contacts
- Address (IRS master file)
- 420 LEXINGTON AVE RM 835, NEW YORK, NY 10170-0036
- In care of
- % MARWAN AZZI
- Mailing address (990-N for 2022)
- 150 W 28TH ST STE 801, NEW YORK NY 100016181
- Principal officer (990 for 2024)
- Mohannad Aama
- Principal officer (990-N for 2022)
- MARWAN AZZI, 150 W 28TH ST STE 801, NEW YORK NY 100016181
- Signed the 990
- Mohannad Aama, President
- Phone
- (212) 599-3030
- Return prepared by
- Gruber Palumberi Raffaele Fried CPAs PC
Mission
TO promote the advancement of education and social equity, through scholarship and mentorship directed at students with heritage (or demonstrated interest/experience) in MENA regions.
Program accomplishments
- The John Mack ABANA Fellowship:In 2024, The Foundation selected five fellows, who would receive $15,000 grant each. This amount is per school year. $75,000 was disbursed collectively to the 5 Fellows. The fellows will also be assigned a mentor from ABANA, Inc.s extensive network of finance leaders. And finally, they will take part in an exclusive summit in New York City in 2025 during which they will meet with and learn from top industry leaders. The Foundation received more than 100 applications and chose 5 recipients who received the monetary award of the fellowship. There were no volunteers.Expenses $75,000 · grants $75,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 57-1147865
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2003
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B12)
- Assets (IRS master file)
- $1,385,635
- Income (IRS master file)
- $591,022
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $499,503 | $288,730 | $1,385,635 | XML |
| 990 | December 2023 | $1,218,387 | $105,455 | $1,130,864 | XML |
| 990-N for 2022 Officer: MARWAN AZZI | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2020 Officer: MARWAN AZZI | December 31, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2018 Officer: SUSAN PETERS | December 31, 2018 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 57-1147865).
Questions about ABANA FOUNDATION INC
- What is the EIN of ABANA FOUNDATION INC?
- The employer identification number (EIN) of ABANA FOUNDATION INC is 57-1147865.
- Is ABANA FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
- Are donations to ABANA FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ABANA FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ABANA FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ABANA FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ABANA FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names Mohannad Aama.
- Who are the officers and directors of ABANA FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 20 people; 0 received compensation from the organization.
- How much revenue does ABANA FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $499,503, expenses of $288,730 and total assets of $1,385,635 at year end.
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