Novakphares Family Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in OAK BROOK, IL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $160K in total assets. In 2024, it awarded 8 grants totaling $27K. Net investment income was $4K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$160K
+9.2% YoY
Annual Giving
$27K
+35.0% YoY
Grant Count
8
+60.0% YoY
Avg Grant Size
$3K
-15.6% YoY
Under IRS private-foundation payout rules, Novakphares Family Foundation reported a distributable amount of $22K for 2024 — the minimum it must pay out in qualifying distributions.
About Novakphares Family Foundation
Based on IRS filings
Novakphares Family Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in OAK BROOK, IL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $160K in total assets. In 2024, it awarded 8 grants totaling $27K. Net investment income was $4K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $159,958 | $146,451 | $142,773 |
| Revenue | $43,476 | $26,238 | $27,551 |
| Expenses | $29,969 | $22,560 | $19,785 |
| Qualifying Distributions | $27,000 | $20,000 | $17,000 |
| Net Investment Income | $4,031 | $5,166 | $3,410 |
| Distributable Amount | $22,209 | $17,905 | $16,398 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
Grant Size Distribution
30 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Northern Illinois Food Bank ($6,000), Sos Children's Village Illinois ($5,000), Inspiration Corporation ($3,000).
| Recipient | Purpose | Amount |
|---|---|---|
| INSPIRATION CORPORATION CHICAGO, IL | PUBLIC SUPPORT | $3,000 |
| NORTHERN ILLINOIS FOOD BANK GENEVA, IL | PUBLIC SUPPORT | $6,000 |
| SOS CHILDREN'S VILLAGE ILLINOIS CHICAGO, IL | PUBLIC SUPPORT | $5,000 |
| THE HUMAN RIGHTS CAMPAIGN WASHINGTON, DC | PUBLIC SUPPORT | $3,000 |
| MALALA FUND PHILADELPHIA, PA | PUBLIC SUPPORT | $2,500 |
| THE TREVOR PROJECT WEST HOLLYWOOD, CA | PUBLIC SUPPORT | $2,500 |
| CRADLES TO CRAYONS INC CHICAGO, IL | PUBLIC SUPPORT | $2,500 |
| THE JACKIE ROBINSON FOUNDATION NEW YORK, NY | PUBLIC SUPPORT | $2,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| CHARLENE M NOVAK | PRESIDENT & DIRECTOR | 1 | — |
| MARK NOVAK | CHAIRMAN OF THE BOARD & DI | 1 | — |
| JASON C NOVAK | SECRETARY & DIRECTOR | 1 | — |
| JENNIFER R NOVAK | TREASURER & DIRECTOR | 1 | — |
| JENNIFER J NOVAK | VICE PRESIDENT & DIRECTOR | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Novakphares Family Foundation?
Novakphares Family Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in OAK BROOK, IL. It holds $160K in total assets as of 2024.
How large is Novakphares Family Foundation?
As of 2024, Novakphares Family Foundation holds $160K in total assets with $43K in annual revenue. It awarded 8 grants totaling $27K in 2024.
Where does Novakphares Family Foundation operate?
Novakphares Family Foundation has awarded grants in California, District of Columbia, Illinois, New York, Pennsylvania.
What size grants does Novakphares Family Foundation award?
In 2024, Novakphares Family Foundation awarded 8 grants totaling $27K — an average of about $3K per grant, based on its IRS Form 990 filings.
How much is Novakphares Family Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Novakphares Family Foundation reported a distributable amount of $22K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Novakphares Family Foundation's EIN?
Novakphares Family Foundation's EIN (Employer Identification Number) is 26-0476836. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Novakphares Family Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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