Novak Family Foundation Inc
- Assets
- $1.1m
- Revenue
- $43.2k
- Investments
- $822.8k
- Employees
- 0
- Location
- Merrillville, IN
- Founding
- 01/2009
- Data as of
- 12/2023
- 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 12/2023, Novak Family Foundation Inc generated $43.2k 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 (4.7%) each year. All expenses for the organization totaled $62.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Novak Family Foundation Inc has awarded 29 individual grants totaling $202,979. 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
SS CONSTANTINE & HELEN GREEK ORTHODOX CATHEDRAL - BUILDING FUND, GOLF OUTING, HARVEST FOR THE HUNGRY/KIDS 4 KIDS,SCHOLARSHIPS, GOYA, SPAGHETTI DINNER,FALL FEST SPONSOR AND FOOD PANTRY.
GRACE BEYOND BORDERS - SUPPORT FOR EMERGENCY TRANSITIONAL MISSION FOR HOMELESS WOMEN AND CHILDREN
FR ANGELO ARTEMAS APPEAL - MEDICAL EXPENSES
SOJOURNER TRUTH HOUSE MINISTRY FOR AT-RISK AND HOMELESS WOMEN AND CHILDREN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Logothetis President | 0.7 | $0 | |
Michael J Berta Secretary | 0.15 | $0 | |
Bessie Ploutis Director | 0.15 | $0 | |
Joann Massow Director | 0.15 | $0 | |
FR Theodore Poteres Director | 0.15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $8,994 |
| Dividends & Interest | $16,884 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $17,354 |
| Capital Gain Net Income | $15,593 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $43,232 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $785 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,533 |
| Total operating and administrative expenses | $6,868 |
| Contributions, gifts, grants paid | $55,118 |
| Total expenses and disbursements | $61,986 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $297,630 |
| 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 | $1,120,394 |
| 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 $55,118 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ST IAKOVOS RETREAT CENTE PURPOSE: ANNUAL SUPPORT | $1,000 |
SS CONSTANTINE & HELEN CA PURPOSE: BUILDING FUND, 5K RUN,SCHOLARSHIPS, | $41,118 |
ORTHODOX CHRISTIAN MISSION CENTER PURPOSE: ANNUAL SUPPORT OF MINISTRIES | $1,000 |
ST HELEN'S PHILOPTOCHOS SOCIETY PURPOSE: SUPPORT ST BASIL ACADEMY | $500 |
SOJOURNER TRUTH HOUSE PURPOSE: HOMELESS SHELTER | $1,000 |
GRACE BEYOND BORDERS PURPOSE: SUPPORT HOMELESS WOMEN & CHILDREN | $5,000 |