Jennifer Novak Foundation
- Assets
- $765.7k
- Revenue
- $6.5k
- Investments
- $721.0k
- Employees
- 0
- Location
- Medina, MN
- Founding
- 02/2008
- Data as of
- 12/2023
- EIN
- 26-0761161
Organization Overview
Jennifer Novak Foundation is located in Medina, MN. 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. Jennifer Novak 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 12/2023, Jennifer Novak Foundation generated $6.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (26.8%) each year. All expenses for the organization totaled $68.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Jennifer Novak Foundation has awarded 23 individual grants totaling $243,750. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Novak Trustee | 10 | $14,400 | |
Jennifer Novak Trustee | 0 | $0 | |
Jay Novak Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $184 |
| Dividends & Interest | $21,601 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$15,278 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,507 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $14,400 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $15,325 |
| Contributions, gifts, grants paid | $52,750 |
| Total expenses and disbursements | $68,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $44,739 |
| 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 | $765,717 |
| 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, Jennifer Novak Foundation has awarded $52,750 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
GUTHRIE THEATRE FOUNDATION PURPOSE: GENERAL | $10,000 |
HENNEPIN THEATRE TRUST PURPOSE: GENERAL | $10,000 |
ST PHILLIP THE DEACON PURPOSE: GENERAL | $22,000 |
THEATRE LATTE DA PURPOSE: GENERAL | $5,000 |
WALLIN EDUCATION PARTNERS PURPOSE: GENERAL | $5,750 |