Lokken - Odea Ii Family Foundation
- Assets
- $368.8k
- Revenue
- $69.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, MI
- Founding
- 05/2018
- Data as of
- 12/2021
- EIN
- 82-3677057
Organization Overview
Lokken - Odea Ii Family Foundation is located in Rochester, MI. The organization was established in 2018. 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. Lokken - Odea Ii 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 12/2021, Lokken - Odea Ii Family Foundation generated $69.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (25.3%) each year.
Since 2018, Lokken - Odea Ii Family Foundation has awarded 14 individual grants totaling $105,000. 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 |
|---|---|---|---|
Wendy Lokken President | 0 | $0 | |
Norton Lokken Secretary | 0 | $0 | |
Michael John O'dea II Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $3 |
| Dividends & Interest | $10,974 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,960 |
| Capital Gain Net Income | $8,960 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $69,937 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $189 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,816 |
| Total operating and administrative expenses | $8,005 |
| Contributions, gifts, grants paid | $40,000 |
| Total expenses and disbursements | $48,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,104 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $361,696 |
| Total assets | $368,800 |
| 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, Lokken - Odea Ii Family Foundation has awarded $40,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $20,000 |
WORLD FOOD PROGRAM USA PURPOSE: GENERAL SUPPORT | $10,000 |
TEAM WESTERN KENTUCKY TORNADO RELIEF FUND PURPOSE: GENERAL SUPPORT | $5,000 |
POLARIS PURPOSE: GENERAL SUPPORT | $2,500 |
West Olive, MI PURPOSE: GENERAL SUPPORT | $2,000 |
Saddle Brook, NJ PURPOSE: GENERAL SUPPORT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stanley Frankel And Judith Frankel Support Foundation Bloomfield Hills, MI | $0 | $41,274 |
Ferris Foundation Big Rapids, MI | $118,188,680 | $12,993,679 |
William H Davis & Dorothy M Davis & William C Davis Foundation Columbus, OH | $50,622,304 | $3,999,336 |
Traditions At Mill Run Columbus, OH | $9,179,158 | $5,528,068 |
Gordon Christian Trust Grand Rapids, MI | $67,207,482 | $18,378,082 |
Lang Rachel Boyce Charitable Trust Xxx-Xx-Xxxx Youngstown, OH | $0 | $17,968 |
Stanita Foundation Greenwood, IN | $37,315,806 | $4,060,296 |
College Properties Of Lorain County Inc Oberlin, OH | $42,105,647 | $1,116,823 |
Ethel And James Flinn Foundation Detroit, MI | $60,556,693 | $4,592,274 |
Andrew Squire Testamentary Tr Brooklyn, OH | $55,206,125 | $2,759,650 |
Elma M Lapp Foundation Cincinnati, OH | $48,551,204 | $2,777,654 |
James And Angela Hambrick Foundation Beachwood, OH | $47,675,714 | $9,104,486 |