Lokken - Odea Ii Family Foundation
- Assets
- $365.7k
- Revenue
- $17.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Holland, MI
- Founding
- 05/2018
- Data as of
- 12/2023
- EIN
- 82-3677057
Organization Overview
Lokken - Odea Ii Family Foundation is located in Holland, 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 12/2023, Lokken - Odea Ii Family Foundation generated $17.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (33.6%) each year.
Since 2018, Lokken - Odea Ii Family Foundation has awarded 23 individual grants totaling $156,000. 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 | $30,000 |
| Interest on Savings | $2,804 |
| Dividends & Interest | $10,856 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$26,659 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $17,001 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,146 |
| Total operating and administrative expenses | $11,646 |
| Contributions, gifts, grants paid | $25,000 |
| Total expenses and disbursements | $36,646 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,625 |
| 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 | $336,118 |
| Total assets | $365,743 |
| 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 $25,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDREN INTERNATIONAL PURPOSE: GENERAL SUPPORT | $5,000 |
TUNNEL TO TOWERS PURPOSE: GENERAL SUPPORT | $5,000 |
WORLD FOOD PROGRAM USA PURPOSE: GENERAL SUPPORT | $5,000 |
POLARIS PROJECT PURPOSE: GENERAL SUPPORT | $5,000 |
RED CROSS SOUNTHEAST MICHIGAN HEADQUATER PURPOSE: GENERAL SUPPORT | $5,000 |