Okane Family Foundation
- Assets
- $5.5m
- Revenue
- $3.1m
- Investments
- $4.9m
- Employees
- 0
- Location
- Montclair, NJ
- Founding
- 06/2014
- Data as of
- 12/2022
- EIN
- 46-4128862
Organization Overview
Okane Family Foundation is located in Montclair, NJ. The organization was established in 2014. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations 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. Okane 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 12/2022, Okane Family Foundation generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 48.8% each year . All expenses for the organization totaled $250.4k during the year ending 12/2022. While expenses have increased by 7.4% per year over the past 8 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 2015, Okane Family Foundation has awarded 71 individual grants totaling $2,086,630. 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 |
|---|---|---|---|
Kevin O'kane Trustee | 5 | $0 | |
Margaret O'kane Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,995,560 |
| Interest on Savings | $1,696 |
| Dividends & Interest | $42,384 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $40,979 |
| Capital Gain Net Income | $40,979 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,638 |
| Total Revenue | $3,083,257 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,130 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $19,008 |
| Total operating and administrative expenses | $25,138 |
| Contributions, gifts, grants paid | $225,250 |
| Total expenses and disbursements | $250,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $564,441 |
| Savings and temporary cash investments | $26,656 |
| Net Accounts receivable | $782 |
| 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 | $5,484,764 |
| 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, Okane Family Foundation has awarded $225,250 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ALI FORNEY CENTER PURPOSE: HELP FEED THE HOMELESS. | $50,000 |
CENTER FOR HEARING AND COMMUNICATIO PURPOSE: HEARING HEALTHCARE FOR PEOPLE OF ALL AGES. | $25,000 |
MONTCLAIR HIGH SCHOOL ALUMNI PURPOSE: EDUCATION | $35,000 |
TONI'S KITCHEN PURPOSE: FOOD MINISTRY OF ST.LUKE'S EPISCOPAL CHURCH. | $25,000 |
USHER 1F COLLABORATIVE PURPOSE: TO FUND MEDICAL RESEARCH TO FIND AN EFFECTIVE TREATMENT TO SAVE OR RESTORE THE VISION OF THOSE WITH USHER SYNDROME TYPE 1F. | $25,000 |
THE BOWERY MISSION SUPPORT CENTER PURPOSE: STANDING WITH NEW YORKERS DURING THEIR MOMENTS OF HOMELESSNESS, VARIOUS DISASTERS AND MOMENTS OF CRISES. | $50,000 |