Hugh And Patricia Okane Foundation
- Assets
- $4.6m
- Revenue
- $234.1k
- Investments
- $4.5m
- Employees
- 0
- Location
- Hobe Sound, FL
- Founding
- 05/2011
- Data as of
- 12/2022
- EIN
- 27-4313631
Organization Overview
Hugh And Patricia Okane Foundation is located in Hobe Sound, FL. The organization was established in 2011. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Hugh And Patricia Okane 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, Hugh And Patricia Okane Foundation generated $234.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $292.8k during the year ending 12/2022. While expenses have increased by 7.6% per year over the past 7 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 2016, Hugh And Patricia Okane Foundation has awarded 385 individual grants totaling $1,803,531. 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 |
|---|---|---|---|
Hugh O'kane Jr President | 0 | $0 | |
Patricia O'kane Vice President | 0 | $0 | |
Hugh R O'kane Treasurer | 0 | $0 | |
Kathleen O'kane Tobin Director | 0 | $0 | |
Alice O'kane Miller Director | 0 | $0 | |
John O'kane Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $370 |
| Dividends & Interest | $167,750 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $66,023 |
| Capital Gain Net Income | $66,023 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $234,143 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,681 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $170 |
| Other expenses | $250 |
| Total operating and administrative expenses | $12,101 |
| Contributions, gifts, grants paid | $280,744 |
| Total expenses and disbursements | $292,845 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $136,280 |
| Net Accounts receivable | $1,372 |
| 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 | $4,604,813 |
| 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 | $1 |
| Total liabilities | $1 |
Grants Awarded
Over the last fiscal year, Hugh And Patricia Okane Foundation has awarded $280,744 in support to 52 organizations.
| Grant Recipient | Amount |
|---|---|
ADELPHI UNIVERSITY PURPOSE: EDUCATION | $250 |
GLEN COVE BOYS GIRLS CLUB PURPOSE: TO PROVIDE A CARING ENVIRONMENT TO INSPIRE AND ENABLE ALL YOUNG PEOPLE TO REALIZE THEIR FULL POTENTIAL AS PRODUCTIVE AND RESPONSIBLE CITIZENS. | $12,500 |
BANNER LAKE CLUB PURPOSE: LAKE COMMUNITY REQUIRING INCOME ASSISTANCE. | $25,000 |
BOSTON COLLEGE PURPOSE: SCHOLARSHIP FUND. | $50,000 |
BOYS AND GIRLS CLUB OF MARTIN COUNT PURPOSE: YOUTH DEVELOPMENT | $2,500 |
BOYS AND GIRLS CLUB OF CLIFTON PURPOSE: DEVELOPMENT OF YOUTH | $2,600 |