Sokol Family Foundation
- Assets
- $16.2m
- Revenue
- $3.3m
- Investments
- $10.3m
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- Data as of
- 12/2021
- 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 12/2021, Sokol Family Foundation generated $3.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (58.3%) each year. All expenses for the organization totaled $502.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Sokol Family Foundation has awarded 21 individual grants totaling $535,500. 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 | $34,583 | |
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 | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $527,702 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,821,861 |
| Capital Gain Net Income | $2,821,861 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,349,563 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $34,583 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $2,853 |
| Interest | $0 |
| Taxes | $29,399 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,485 |
| Total operating and administrative expenses | $73,724 |
| Contributions, gifts, grants paid | $428,500 |
| Total expenses and disbursements | $502,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $348,977 |
| Savings and temporary cash investments | $5,548,131 |
| 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 | $16,198,793 |
| 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 | $516 |
| Total liabilities | $516 |
Grants Awarded
Over the last fiscal year, Sokol Family Foundation has awarded $428,500 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
FOR KIDS PURPOSE: GENERAL | $200,000 |
SALVATION ARMY PURPOSE: GENERAL | $100,000 |
Livingston, MT PURPOSE: GENERAL | $100,000 |
HER SHELTER PURPOSE: GENERAL | $6,500 |
Virginia Beach, VA PURPOSE: GENERAL | $5,000 |
SALVAGE USA PURPOSE: GENERAL | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pyramid Peak Foundation Memphis, TN | $230,284,852 | $119,724,559 |
Diana Davis Spencer Foundation Bethesda, MD | $1,510,145,435 | $31,448,274 |
Davis Family Foundation Hanover, MD | $1,302,672,743 | $64,475,559 |
Bedford Falls Foundation C/O Joanne Barkett Conway Washington, DC | $61,666,880 | $84,617,094 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
Wallace Global Fund Ii Washington, DC | $136,169,792 | $23,961,855 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |