Jennifer Novak Foundation
- Assets
- $827.3k
- Revenue
- $25.0k
- Investments
- $801.4k
- Employees
- 0
- Location
- Medina, MN
- Founding
- 02/2008
- Data as of
- 12/2022
- 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 12/2022, Jennifer Novak Foundation generated $25.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 29.2% each year . All expenses for the organization totaled $76.1k during the year ending 12/2022. While expenses have increased by 8.4% per year over the past 5 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 2020, Jennifer Novak Foundation has awarded 28 individual grants totaling $330,000. 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.
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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 | $62 |
| Dividends & Interest | $24,890 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $24,952 |
| 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 | $25 |
| Total operating and administrative expenses | $15,340 |
| Contributions, gifts, grants paid | $60,750 |
| Total expenses and disbursements | $76,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $25,929 |
| 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 | $827,285 |
| 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 $60,750 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ST PHILLIP THE DEACON PURPOSE: GENERAL | $20,000 |
Minneapolis, MN PURPOSE: GENERAL | $12,500 |
GUTHRIE THEATRE FOUNDATION PURPOSE: GENERAL | $10,000 |
HENNEPIN THEATRE TRUST PURPOSE: GENERAL | $10,000 |
WALLIN EDUCATION PARTNERS PURPOSE: GENERAL | $5,750 |
Minneapolis, MN PURPOSE: GENERAL | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles E Lakin Foundation Inc Council Bluffs, IA | $146,415,136 | $18,758,116 |
David And Janis Larson Foundation Minneapolis, MN | $131,263,001 | -$404,078 |
The Jennings Family Foundation Edina, MN | $20,317,059 | $4,027,228 |
Kaena Foundation Minneapolis, MN | $0 | $2,288,902 |
Melitta S And Joan M Pick Charitable Trust Milwaukee, WI | $69,688,567 | $15,533,257 |
K A H R Foundation Minnetrista, MN | $0 | $2,779,843 |
The Mortenson Family Foundation Minneapolis, MN | $135,941,290 | $34,670,895 |
Northeast Entrepreneur Fund Inc Duluth, MN | $61,578,010 | $11,454,205 |
Easter Foundation Inc De Pere, WI | $48,221,315 | $14,319,286 |
John Ruan Foundation Trust Urbandale, IA | $110,876,833 | $7,230,015 |
Wem 2000 Foundation Minneapolis, MN | $94,111,129 | $6,290,419 |
Ashley Charitable Foundation Ltd Arcadia, WI | $13,824,381 | $199,581 |