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The Clara Abbott Foundation

Profile

Last profile update: 04/19/2017

At A Glance

The Clara Abbott Foundation

1175 Tri-State Pkwy., Ste. 200

Gurnee, IL United States 60031-9141

Telephone: (800) 972-3859

URL: clara.abbott.com

Type of Grantmaker

Independent foundation

EIN

366069632

BRIDGE Number

6764703814

Background

Established in 1940 in IL - In the 1920s, Clara Abbott, wife of Dr. Wallace Abbott, founder of Abbott Laboratories, added to her will a provision that a portion of her estate "shall be used for the benefit of employees in need..." Clara Abbott died in 1924, three years after her husband, but according to her wishes as expressed in her will, distribution of that portion of her estate destined to "charity" was delayed until their only child, Eleanor, reached the age of 40 in 1939. It was the judgment of the trustees of Clara's estate that the formation of a foundation would be an appropriate means to provide for the needs of Abbott employees envisioned by Clara Abbott

Purpose and Activities

The mission of the foundation is to efficiently and responsibly provide needed assistance to Abbott families worldwide. Grants, loans, financial education and counseling services are made to Abbott Laboratories employees and retirees for financial aid due to financial hardships. Educational grants are made only to dependents of Abbott Laboratories employees (of at least one year) and retirees based on a financial need criteria.