The Penny Smith Novick Foundation Inc
The Penny Smith Novick Foundation Inc is a private foundation, based in Palm Beach, FL. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $463K in total assets. In 2025, it awarded 8 grants totaling $47K. Net investment income was $59K.
The Penny Smith Novick Foundation Inc at a glance
In short: The Penny Smith Novick Foundation Inc gave $47K across 8 grants in 2025 (avg $6K), mostly in New York. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $47,097
- -12.2% vs 2024
- Grants made (2025)
- 8
- +14.3% vs 2024
- Average grant
- $5,887
- -23.2% vs 2024
- Median grant
- $2,234
- Total assets
- $462,697
- +1.7% vs 2024
- Primary geography
- New York (86% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Penny Smith Novick Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2025
The largest 2025 recipient was Northwell Foundation ($28K). Together the top 8 received $47K.
Grant Size Distribution
30 grants across all recorded years
The most common grant size was under $50K: 30 grants of 30 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 8 itemized grants.
Cities
How The Penny Smith Novick Foundation Inc gives
- Giving grew 90% from 2022 to 2025. Method
- In 2025 it paid out 120% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $8K (2020) to $54K (2024). In 2025 it made 8 grants totaling $47K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Northwell Foundation New Hyde Park, NY | General Purpose | $27,950 |
| Jewish Federation of Palm Beach County W Palm Beach, FL | General Purpose | $6,000 |
| Friends of the Israel Defense Force New York, NY | General Purpose | $5,805 |
| Play for Pink New York, NY | General Purpose | $2,967 |
| American Cancer Society New York, NY | General Purpose | $1,500 |
| Crohn's & Colitis Foundation New York, NY | General Purpose | $1,500 |
| Glen Oaks Club Philantrophic Fund Old Westbury, NY | General Purpose | $750 |
| Richard David Kann Melanoma Foundation West Palm Beach, FL | General Purpose | $625 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $462,697 | $70,917 | $63,099 | $47,097 | 8 | $50,442 | $58,760 | $42,046 |
| 2024 | $454,879 | $59,996 | $69,859 | $53,638 | 7 | $56,888 | $48,025 | $40,742 |
| 2023 | $464,742 | $42,872 | $45,174 | $31,550 | 6 | $34,065 | $32,353 | $39,461 |
| 2022 | $467,121 | $58,416 | $38,502 | $24,850 | 4 | $27,365 | $47,379 | $39,488 |
| 2021 | $447,207 | $52,527 | $54,411 | $39,822 | 5 | $42,822 | $40,938 | $41,625 |
| 2020 | $449,091 | $16,877 | $19,636 | $8,100 | 5 | — | $10,490 | $36,523 |
Under IRS private-foundation payout rules, The Penny Smith Novick Foundation Inc reported a distributable amount of $42K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Penny Smith Novick Foundation Inc is led by Penny Novick, President & Treasurer on every filing since 2020; none of the 2 officers listed in 2025 report compensation.
Officers on the 2025 filing
Penny Novick
President & Treasurer
On filings since 2020
3 hrs/week
No compensation reported
Brett Novick
Director
On filings since 2020
2 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about The Penny Smith Novick Foundation Inc
How much does The Penny Smith Novick Foundation Inc give each year?
The Penny Smith Novick Foundation Inc gave $47K across 8 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $54K across 7 grants.
What is The Penny Smith Novick Foundation Inc's typical grant size?
The Penny Smith Novick Foundation Inc's median grant in 2025 was $2,234, and its average grant was $5,887, across 8 grants on its 2025 IRS Form 990-PF.
Where does The Penny Smith Novick Foundation Inc give grants?
The Penny Smith Novick Foundation Inc gives mostly in New York: 86% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Florida (14%). The most frequent recipient cities were New York, NY (4 grants).
Does The Penny Smith Novick Foundation Inc give general operating support?
Yes: 100% of The Penny Smith Novick Foundation Inc's 2025 grants with a stated purpose (8 of 8) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are The Penny Smith Novick Foundation Inc's largest grantees?
The Penny Smith Novick Foundation Inc's largest 2025 grantees include Northwell Foundation ($27,950), Jewish Federation of Palm Beach County ($6,000) and Friends of the Israel Defense Force ($5,805), according to its 2025 IRS Form 990-PF. Together they received 84% of its itemized 2025 grant dollars.
How large is The Penny Smith Novick Foundation Inc?
The Penny Smith Novick Foundation Inc reported $463K in total assets on its 2025 IRS Form 990-PF. It paid out $50K in qualifying distributions that year, against a required minimum of $42K (roughly 5% of its investment assets).
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 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS August 27, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work The Penny Smith Novick Foundation Inc funds
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