Novak Family Foundation
- Assets
- $135.0k
- Revenue
- $21.2k
- Investments
- $107.9k
- Employees
- 0
- Location
- Oak Brook, IL
- Founding
- 08/2008
- Data as of
- 12/2021
- EIN
- 26-0476836
Organization Overview
Novak Family Foundation is located in Oak Brook, IL. The organization was established in 2008. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Novak Family Foundation 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 12/2021, Novak Family Foundation generated $21.2k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $22.7k during the year ending 12/2021. While expenses have increased by 17.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Novak Family Foundation has awarded 37 individual grants totaling $103,000. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlene M Novak President & Director | 1 | $0 | |
Mark Novak Chairman Of The Board & Di | 1 | $0 | |
Jennifer R Novak Treasurer & Director | 1 | $0 | |
Jason C Novak Secretary & Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $12,628 |
| Interest on Savings | $4 |
| Dividends & Interest | $4,608 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,940 |
| Capital Gain Net Income | $3,940 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $21,180 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $62 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,690 |
| Contributions, gifts, grants paid | $20,000 |
| Total expenses and disbursements | $22,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,053 |
| Savings and temporary cash investments | $26,101 |
| 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 | $135,018 |
| 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, Novak Family Foundation has awarded $20,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: PUBLIC SUPPORT | $5,000 |
Geneva, IL PURPOSE: PUBLIC SUPPORT | $5,000 |
Chicago, IL PURPOSE: PUBLIC SUPPORT | $2,500 |
GOLDEN APPLE SCHOLARS PURPOSE: PUBLIC SUPPORT | $2,500 |
Chicago, IL PURPOSE: PUBLIC SUPPORT | $2,500 |
Washington, DC PURPOSE: PUBLIC SUPPORT | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Asante Foundation Inc South Bend, IN | $170,490,031 | $16,382,298 |
Klaff Family Foundation Chicago, IL | $171,629,374 | $12,167,429 |
Deborah Joy Simon Foundation Carmel, IN | $67,791,546 | $8,858,983 |
Charles E Lakin Foundation Inc Council Bluffs, IA | $146,415,136 | $18,758,116 |
The Pritzker Pucker Family Foundation Chicago, IL | $63,807,485 | $11,921,924 |
The Hagan Scholarship Foundation Columbia, MO | $259,194,852 | $64,132,818 |
Sunshine Charitable Foundation Libertyville, IL | $0 | $4,219,972 |
Tracy Family Foundation Mt Sterling, IL | $19,754,710 | $6,714,098 |
Chicagobeyond Inc Chicago, IL | $1,837,444 | $0 |
Conduit Foundation Chicago, IL | $3,365,161 | $7,119,515 |
Anahata Foundation Chicago, IL | $150,849,919 | $3,685,553 |
Melitta S And Joan M Pick Charitable Trust Milwaukee, WI | $69,688,567 | $15,533,257 |