The Penny Smith Novick Foundation Inc
The Penny Smith Novick Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in PALM BEACH, FL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $455K in total assets. In 2024, it awarded 7 grants totaling $54K. Net investment income was $48K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$455K
-2.1% YoY
Annual Giving
$54K
+70.0% YoY
Grant Count
7
+16.7% YoY
Avg Grant Size
$8K
+45.7% YoY
Under IRS private-foundation payout rules, The Penny Smith Novick Foundation Inc reported a distributable amount of $41K for 2024 — the minimum it must pay out in qualifying distributions.
About The Penny Smith Novick Foundation Inc
Based on IRS filings
The Penny Smith Novick Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in PALM BEACH, FL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $455K in total assets. In 2024, it awarded 7 grants totaling $54K. Net investment income was $48K.
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 | $454,879 | $464,742 | $467,121 |
| Revenue | $59,996 | $42,872 | $58,416 |
| Expenses | $69,859 | $45,174 | $38,502 |
| Qualifying Distributions | $56,888 | $34,065 | $27,365 |
| Net Investment Income | $48,025 | $32,353 | $47,379 |
| Distributable Amount | $40,742 | $39,461 | $39,488 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
Grant Size Distribution
27 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Northwell Foundation ($27,750), Friends of the Israel Defense Force ($20,000), American Cancer Society ($1,500).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN CANCER SOCIETY NEW YORK, NY | GENERAL PURPOSE | $1,500 |
| FRIENDS OF THE ISRAEL DEFENSE FORCE NEW YORK, NY | GENERAL PURPOSE | $20,000 |
| GLEN OAKS CLUB PHILANTROPHIC FUND OLD WESTBURY, NY | GENERAL PURPOSE | $750 |
| JEWISH FEDERATION OF PALM BEACH COUNTY W PALM BEACH, FL | GENERAL PURPOSE | $1,400 |
| MEMORIAL SLOANE KETTERING CANCER CENTER NEW YORK, NY | GENERAL PURPOSE | $1,500 |
| NORTHWELL FOUNDATION NEW HYDE PARK, NY | GENERAL PURPOSE | $27,750 |
| PLAY FOR PINK NEW YORK, NY | GENERAL PURPOSE | $738 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| PENNY NOVICK | PRESIDENT / TREASURER | 3 | — |
| BRETT NOVICK | DIRECTOR | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Penny Smith Novick Foundation Inc?
The Penny Smith Novick Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in PALM BEACH, FL. It holds $455K in total assets as of 2024.
How large is The Penny Smith Novick Foundation Inc?
As of 2024, The Penny Smith Novick Foundation Inc holds $455K in total assets with $60K in annual revenue. It awarded 7 grants totaling $54K in 2024.
Where does The Penny Smith Novick Foundation Inc operate?
The Penny Smith Novick Foundation Inc has awarded grants in Florida, New York.
What size grants does The Penny Smith Novick Foundation Inc award?
In 2024, The Penny Smith Novick Foundation Inc awarded 7 grants totaling $54K — an average of about $8K per grant, based on its IRS Form 990 filings.
How much is The Penny Smith Novick Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Penny Smith Novick Foundation Inc reported a distributable amount of $41K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Penny Smith Novick Foundation Inc's EIN?
The Penny Smith Novick Foundation Inc's EIN (Employer Identification Number) is 13-3935976. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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