David And Janet Polak Foundation
- Assets
- $71.1m
- Revenue
- $3.2m
- Investments
- $64.7m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 09/2014
- Data as of
- 12/2020
- EIN
- 45-4797578
Organization Overview
David And Janet Polak Foundation is located in Wilmington, DE. The organization was established in 2014. 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. David And Janet Polak 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 12/2020, David And Janet Polak Foundation generated $3.2m in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $4.6m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, David And Janet Polak Foundation has awarded 131 individual grants totaling $5,021,344. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
AKLA PROGRAM - WILL INTRODUCE PARTICIPANTS TO EXCITING & INSPIRING NEW WAYS OF LOOKING AT THEIR JEWISH VALUES & CONNECT THEM WITHIN THEIR OWN LIVES & LA JEWISH COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Polak Dir, Pres, Executive Dir | 40 | $235,550 | |
David Polak Dir | 1 | $0 | |
Janet Polak Dir | 1 | $0 | |
Robert Polak Dir | 1 | $0 | |
Jonathan Seltzer Dir | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Foundation Source | 12/30/21 | $87,942 |
Polak Investors Llc | 12/30/21 | $383,363 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $66,750 |
| Dividends & Interest | $887,181 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,647,887 |
| Capital Gain Net Income | $1,468,254 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $634,921 |
| Total Revenue | $3,236,739 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $222,800 |
| Other employee salaries and wages | $210,000 |
| Pension plans, employee benefits | $40,707 |
| Interest | $49,530 |
| Taxes | $195,674 |
| Depreciation | $0 |
| Occupancy | $24,502 |
| Travel, conferences, and meetings | $404 |
| Printing and publications | $0 |
| Other expenses | $626,699 |
| Total operating and administrative expenses | $1,805,252 |
| Contributions, gifts, grants paid | $2,755,032 |
| Total expenses and disbursements | $4,560,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,036,171 |
| 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 | $21,159,666 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,342,999 |
| Total assets | $71,098,585 |
| 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, David And Janet Polak Foundation has awarded $2,266,312 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
ISRAEL EMERGENCY ALLIANCE - STANDWITHUS PURPOSE: GENERAL & UNRESTRICTED | $200,000 |
New York, NY PURPOSE: GENERAL & UNRESTRICTED | $200,000 |
New York, NY PURPOSE: SUPPORT OF PART TWO - PHASE TWO OF THE BEN-GURION DIGITAL ARCHIVES TRANSFORMATION PROJECT | $100,000 |
New York, NY PURPOSE: SUPPORT OF PART TWO - PHASE ONE OF THE BEN-GURION DIGITAL ARCHIVES TRANSFORMATION PROJECT COLLECTIONS) OF THE BEN-GURION DIGITAL ARCHIVES TRANSFORMATION PROJECT | $100,000 |
Skokie, IL PURPOSE: GENERAL & UNRESTRICTED | $100,000 |
CEDARS-SINAI MEDICAL CENTER PURPOSE: THE POLAK FAMILY FELLOWSHIP IN PRECISION HEALTHCARE, SUPPORTING THE BOARD OF GOVERNORS INNOVATION CENTER | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Morgridge Family Foundation Wilmington, DE | $205,419,134 | $22,580,458 |
GDS Legacy Foundation Inc Wilmington, DE | $0 | $575,846 |
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Foundation For The Greatest Good Fulton, MD | $11,551,864 | $19,462,876 |
Young Mens Christian Association Of The Chesapeake Inc Easton, MD | $84,208,847 | $28,289,184 |
Living Legacy Foundation Wilmington, DE | $129,501,628 | $9,577,224 |
The Healey International Relief Foundation Inc Lumberton, NJ | $326,937 | $11,415,022 |
Zachary Smith Reynolds Trust Pittsburgh, PA | $187,892,547 | $20,789,622 |