Novak Family Foundation Inc
- Assets
- $1.2m
- Revenue
- $114.4k
- Investments
- $1.2m
- Employees
- 0
- Location
- Merrillville, IN
- Founding
- 01/2009
- Data as of
- 12/2021
- EIN
- 26-0177940
Organization Overview
Novak Family Foundation Inc is located in Merrillville, IN. The organization was established in 2009. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Novak Family 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 12/2021, Novak Family Foundation Inc generated $114.4k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 25.2% each year . All expenses for the organization totaled $60.1k during the year ending 12/2021. While expenses have increased by 0.8% per year over the past 4 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SS CONSTANTINE & HELEN GREEK ORTHODOX CATHEDRAL - BUILDING FUND, 5K RUN/WALK, HARVEST FOR THE HUNGRY/KIDS 4 KIDS,SCHOLARSHIPS, GOYA,FOOD PANTRY, COMPUTER UPGRADE, FALL FEST SPONSOR, & GREEK SCHOOL APPEAL
ST JOSEPH'S CARMELITE HOME - TO REBUILD AFTER FIRE
GRACE BEYOND BORDERS - SUPPORT FOR EMERGENCY TRANSITIONAL MISSION FOR HOMELESS WOMEN AND CHILDREN
ST. HELENS PHILOPTOCHOS SOCIETY - VASILOPITA CELEBRATION, SPAGHETTI DINNER & NOVAK MEMORIAL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joann Massow Director | 0.15 | $0 | |
John Pangere Director | 0.15 | $0 | |
Michael J Berta Secretary | 0.15 | $0 | |
William Logothetis President | 0.7 | $0 | |
FR Theodore Poteres Director | 0.15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $34,763 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $79,680 |
| Capital Gain Net Income | $55,419 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $114,445 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $889 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,819 |
| Total operating and administrative expenses | $8,208 |
| Contributions, gifts, grants paid | $51,925 |
| Total expenses and disbursements | $60,133 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,887 |
| 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 | $0 |
| Total assets | $1,184,002 |
| 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, Novak Family Foundation Inc has awarded $51,925 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
SS CONSTANTINE & HELEN CA PURPOSE: BUILDING FUND, 5K RUN,SCHOLARSHIPS, | $37,125 |
East Chicago, IN PURPOSE: SUPPORT HOMELESS WOMEN & CHILDREN | $5,000 |
ST JOSEPH'S CARMELITE HOME PURPOSE: REBUILD AFTER FIRE | $5,000 |
ST HELEN'S PHILOPTOCHOS SOCIETY PURPOSE: SPAGHETTI DINNER, MEMORIAL | $1,800 |
ST IAKOVOS RETREAT CENTE PURPOSE: ANNUAL SUPPORT | $1,000 |
SOJOURNER TRUTH HOUSE PURPOSE: HOMELESS SHELTER | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Genyouth Inc Rosemont, IL | $9,087,915 | $10,980,091 |
Anheuser-Busch Foundation Clayton, MO | $1,201,059 | $8,412,886 |
Carson-Myre Charitable Foundation Paducah, KY | $72,587,857 | $8,781,396 |
Sondheimer Family Charitable Foundation Wilmette, IL | $0 | $30,820 |
John Joseph Sigstein Foundation Inc Huntington, IN | $0 | $2,327,854 |
Illinois Tool Works Foundation Glenview, IL | $328,623 | $8,500,000 |
Willow Springs Charitable Tr Mt Carroll, IL | $100,115,931 | $21,339,853 |
Hamill Family Foundation Chicago, IL | $55,305,054 | $6,054,241 |
Steward Family Foundation St Louis, MO | $23,736 | $8,567,873 |
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
Grand Victoria Foundation Chicago, IL | $167,134,023 | $22,046,260 |
Hermann Family Foundation St Louis, MO | $60,142,710 | $16,411,582 |