Adam M Bak Foundation Inc
- Assets
- $225.5k
- Revenue
- $200.1k
- Investments
- $3.8k
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 04/2009
- Data as of
- 12/2022
- EIN
- 26-3930966
Organization Overview
Adam M Bak Foundation Inc is located in Brooklyn, NY. The organization was established in 2009. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Adam M Bak 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 12/2022, Adam M Bak Foundation Inc generated $200.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.7%) each year. All expenses for the organization totaled $50.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (20.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Adam M Bak Foundation Inc has awarded 46 individual grants totaling $1,725,211. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIPS TO GRADUATE STUDENTS OF POLISH DECENT: TO GIVE TO OTHER CHARITABLE AND 501 (C)(3) ORGANIZATIONS SUCH AS ORPHANAGE'S AND SCHOOLS. ALSO TO PROMOTE CULTURAL ACTIVITIES FROM POLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Bak President | 0 | $0 | |
Ava Polansky Bak Vice President | 0 | $0 | |
Victoria Polansky Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $79 |
| 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 | $200,079 |
| 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 | $351 |
| Total operating and administrative expenses | $351 |
| Contributions, gifts, grants paid | $50,000 |
| Total expenses and disbursements | $50,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $221,715 |
| 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 | $225,477 |
| 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, Adam M Bak Foundation Inc has awarded $270,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MEDYCYNA PRAKTYCZNA PURPOSE: CHARITABLE | $50,000 |
CARITAS DIECEZJI RZESZOWSKIJ PURPOSE: GRANT FOR CENTER FOR POLISH UKRAINIANS | $100,000 |
INKUBATOR FUNDACJA PURPOSE: CHARITABLE | $50,000 |
THE INSTITUTE OF WORLD POLITICS PURPOSE: CHARITABLE | $70,000 |