Emenike-Ogunnaike Charitable Foundation Inc
- Assets
- $3.2m
- Revenue
- $577.6k
- Investments
- $2.6m
- Employees
- 0
- Location
- Sherman Oaks, CA
- Founding
- 03/2017
- Data as of
- 12/2023
- EIN
- 81-3072927
Organization Overview
Emenike-Ogunnaike Charitable Foundation Inc is located in Sherman Oaks, CA. The organization was established in 2017. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Emenike-Ogunnaike Charitable Foundation Inc 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, Emenike-Ogunnaike Charitable Foundation Inc generated $577.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 28.5% each year . All expenses for the organization totaled $187.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Emenike-Ogunnaike Charitable Foundation Inc has awarded 11 individual grants totaling $418,326. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS FOR WORTHY STUDENTS IN NIGERIA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chika Ogunnaike President | 5 | $0 | |
David Ogunnaike Vice President | 0.5 | $0 | |
Adetayo Ogunnaike Secretary | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $548,912 |
| Interest on Savings | $0 |
| Dividends & Interest | $28,673 |
| 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 | $577,585 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $603 |
| Taxes | $915 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $513 |
| Total operating and administrative expenses | $4,726 |
| Contributions, gifts, grants paid | $183,112 |
| Total expenses and disbursements | $187,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $596,925 |
| Savings and temporary cash investments | $0 |
| 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 | $750,079 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,212,131 |
| 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 | $9,253 |
| Total liabilities | $9,253 |
Grants Awarded
Over the last fiscal year, Emenike-Ogunnaike Charitable Foundation Inc has awarded $183,112 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
OTHER DONATION PURPOSE: CONTRIBUTION TO SUPPORT MULTIPLE WORTHY NIGERIAN STUDENTS | $177,612 |
BEAT CHILDHOOD CANCER PURPOSE: CONTRIBUTION TO SUPPORT BEAT CHILDHOOD CANCER | $2,500 |
ST MARIA GORETTI ALUMNI PURPOSE: SUPPORT SCHOLARSHIPS FOR STUDENTS. | $3,000 |