Norsic Family Foundation Inc

SOUTHAMPTON, NY EIN: 92-0292533

Norsic Family Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in SOUTHAMPTON, NY. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $1.0M in total assets. In 2024, it awarded 5 grants totaling $41K. Net investment income was $45K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$1.0M

+0.4% YoY

Annual Giving

$41K

-37.6% YoY

Grant Count

-58.3% YoY

Avg Grant Size

$8K

+49.7% YoY

Under IRS private-foundation payout rules, Norsic Family Foundation Inc reported a distributable amount of $56K for 2024 — the minimum it must pay out in qualifying distributions.

About Norsic Family Foundation Inc

Based on IRS filings

Focus Areas

Philanthropy, Voluntarism & Grantmaking

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

New York $86K (81%)

North Carolina $10K (9%)

Tennessee $10K (9%)

States

North Carolina New York Tennessee

Cities

BridgehamptonEast HamptonFayettevilleMemphisSouthamptonWest BabylonWesthampton Beach

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$1,014,625	$1,010,300	$1,000,000
Revenue	$56,222	$81,975	$1,000,000
Expenses	$52,384	$71,675	—
Qualifying Distributions	$40,710	$65,250	—
Net Investment Income	$44,798	$75,050	—
Distributable Amount	$56,097	$48,461	$1,494

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 5 recipients in 2024

Grant Size Distribution

17 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Hamptons Collegiate Baseball ($18,000), Radha Soami Society Beas-america ($10,000), Bridgehampton Child Care & ($5,010).

Recipient	Purpose	Amount
BRIDGEHAMPTON CHILD CARE & BRIDGEHAMPTON, NY	CHARITABLE	$5,010
HAMPTONS COLLEGIATE BASEBALL SOUTHAMPTON, NY	CHARITABLE	$18,000
LUCIAS ANGELS SOUTHAMPTON, NY	CHARITABLE	$3,000
RADHA SOAMI SOCIETY BEAS-AMERICA FAYETTEVILLE, NC	CHARITABLE	$10,000
SOUTHAMPTON LIONS CLUB SOUTHAMPTON, NY	CHARITABLE	$4,700

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
EMIL R NORSIC JR	DIRECTOR	—	—
DAWN SCHLEGEL	DIRECTOR	—	—
CHRISTOPHER ZORKO	DIRECTOR	—	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What is Norsic Family Foundation Inc?

Norsic Family Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in SOUTHAMPTON, NY. It holds $1.0M in total assets as of 2024.

How large is Norsic Family Foundation Inc?

As of 2024, Norsic Family Foundation Inc holds $1.0M in total assets with $56K in annual revenue. It awarded 5 grants totaling $41K in 2024.

Where does Norsic Family Foundation Inc operate?

Norsic Family Foundation Inc has awarded grants in North Carolina, New York, Tennessee.

What size grants does Norsic Family Foundation Inc award?

In 2024, Norsic Family Foundation Inc awarded 5 grants totaling $41K — an average of about $8K per grant, based on its IRS Form 990 filings.

How much is Norsic Family Foundation Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Norsic Family Foundation Inc reported a distributable amount of $56K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.