Sokol Family Foundation
- Assets
- $18.7m
- Revenue
- $10.9m
- Investments
- $13.7m
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- Data as of
- 12/2022
- EIN
- 85-3064683
Organization Overview
Sokol Family Foundation is located in Virginia Beach, VA. 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. Sokol 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 12/2022, Sokol Family Foundation generated $10.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (17.4%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Sokol Family Foundation has awarded 23 individual grants totaling $2,157,450. 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 |
|---|---|---|---|
Kelly Sokol President/ex | 13 | $46,725 | |
John Weech Treasurer/se | 3 | $0 | |
David Sokol Director | 0 | $0 | |
Peggy Sokol Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,002,550 |
| Interest on Savings | $0 |
| Dividends & Interest | $848,770 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $17,137 |
| Capital Gain Net Income | $17,137 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,868,457 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $46,725 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $3,793 |
| Interest | $0 |
| Taxes | $48,526 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | -$794 |
| Total operating and administrative expenses | $100,413 |
| Contributions, gifts, grants paid | $1,675,450 |
| Total expenses and disbursements | $1,775,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $230,978 |
| Savings and temporary cash investments | $4,756,001 |
| 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 | $995,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,804 |
| Total assets | $18,722,887 |
| 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 | $346 |
| Total liabilities | $346 |
Grants Awarded
Over the last fiscal year, Sokol Family Foundation has awarded $1,675,450 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
VIRGINIA BEACH VOLUNTEER RESCUE PURPOSE: GENERAL | $2,500 |
PARK COUNTY COMMUNITY FOUNDATION PURPOSE: GENERAL | $100,000 |
FOR KIDS PURPOSE: GENERAL | $337,950 |
SALVATION ARMY PURPOSE: GENERAL | $120,000 |
HORATIO ALGER ASSOCIATION PURPOSE: GENERAL | $1,000,000 |
AMERICAN HIMALAYAN FOUNDATION PURPOSE: GENERAL | $100,000 |