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The Clara Abbott Foundation provides financial assistance grants and college scholarships to Abbott employees, retirees, and their dependents. Services include emergency grants for basic needs, assistance after natural disasters, and scholarships for college expenses.
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BACKGROUND Established in 1940 to honor a bequest from Clara Abbott’s will Funded from Clara Abbott’s original gift of Abbott stock Separate not-for-profit organization; not managed by Abbott Governed by Board of Directors made up of Abbott senior-level employees and retirees Exists solely for Abbott families: current employees, retirees, and dependents The mission of the Clara Abbott Foundation is to effectively and responsibly provide needed assistance to Abbott families worldwide. The Foundation will endure to serve future generations.
SERVICES Financial Assistance Grants Need-based grants to help Abbott families in times of financial difficulty University-Level Scholarships Need-based financial aid to help children of Abbott employees with college expenses Foundation services are free and confidential. 4
FINANCIAL ASSISTANCE GRANTS We provide short-term financial grants to help Abbott employees struggling to afford their basic needs • Emergency assistance for food, clothing and temporary shelter • Costs to help repair or replace essential items following a natural disaster • Living expenses: mortgage, rent and utilities (water, electricity, gas, telephone) • Medical expenses after insurance coverage • Equipment costs for children with special needs • Dental treatments • Funeral expenses • Clothing and food costs • Essential home and auto repairs • Transportation expenses
Examples of When to contact us Struggling to pay your bills? Wondering how you are going to pay your rent, mortgage, utilities, medicine or other basic need? Have put essential house repairs on the back burner because you can’t make ends meet? In financial distress following a natural disaster or unplanned event? Unexpected loss of income? Please don’t hesitate to contact us. Caring professionals are standing by ready to help.
Who receives a grant? Financial grants are provided to those with demonstrated need Applicant must provide documentation of household income Financial consultants review household income, assets, debt and monthly expenses If financial need is determined, the employee may receive funds to cover some expenses until they can reach a more financial stable situation
College scholarships Need-based Scholarships Available to eligible children (ages 17-24) of Abbott employees and retirees Scholarships can be used for institutions such as: public and private colleges and universities; vocational and trade schools; technical and community colleges Awards can help ease the burden of college costs, but will not fully cover the costs of attending Administration of the program varies by country Awards are based on a number of factors including family income and the average cost of public,in-state college/university tuition in each country
College scholarships Need-based Scholarships • Students who are entering college for the first time or students who are already in college may apply • Application deadlines vary (US deadline is April 15) • Scholarship recipients must reapply each year • Awards given to those most in need • Applications available online 11
ELIGIBILITY FOR FOUNDATION SERVICES To be eligible for Foundation programs you must be: A current Abbott employee with at least two years of continuous Abbott service (or two years from date of Abbott acquisition) A former Abbott employee who--on their last day of employment--was at least 50 years old with a minimum of 10 years of continuous Abbott service. These employees may retain lifetime eligibility for Foundation services For complete eligibility information, visit clara.abbott.com
How to apply • Apply online at clara.abbott.com • Or call us at 1-847-937-1090 to begin the application process over the phone • Or email us at askclara@abbott.com to request a hard copy application
Examples of Foundation Giving After waiting for several months, Anya was scheduled to receive a liver transplant. To afford the procedure, she and her family sold assets and borrowed money, but were unable to come up with the full amount. The Foundation provided the additional dollars to cover the remaining cost of the procedure. An earthquake tore through Viktor’s community putting his house at risk of collapse. The Foundation assisted with home repair costs to ensure Viktor and his family had a safe living environment.
Examples of Foundation Giving After losing her husband at a young age, Mai was left to provide and care for her daughter. She found herself unable to cover the funeral expenses, and was struggling to afford her basic needs like food, clothing and shelter. The Foundation helped pay for the funeral, and provided additional financial support to get Mai back on her feet. After suffering a heart attack, Simon needed to take time off from work to recover and regain his strength. During that time, however, he found he was unable to afford his mortgage on his reduced pay. The Foundation helped Simon pay his mortgage until he was able to return to work full time.
Contact us Website: clara.abbott.com Phone: 1-847-937-1090; 1-800-972-3859 Email: askclara@abbott.com All contact with The Foundation is confidential.
