Overview
What is The Norman & Elaine Polsky Family Supporting Foundation?
The Norman & Elaine Polsky Family Supporting Foundation is a charitable organization based in Overland Park, Kansas. Its primary objective is to support other 501(C)(3) nonprofits by establishing endowments within these organizations. The aim is to encourage the formation of additional endowments, believing that this will secure their future. In the 2022 tax year, the Foundation opted to preserve its asset base after two years of substantial giving, foregoing grant-making. The organization operates under Section 501(C) and Section 509(A) of the Internal Revenue Code, focusing on charitable, educational, or religious purposes. It supports activities that align with the Greater Kansas City Community Foundation's mission.
Is The Norman & Elaine Polsky Family Supporting Foundation legitimate?
The Norman & Elaine Polsky Family Supporting Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Norman & Elaine Polsky Family Supporting Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of The Norman & Elaine Polsky Family Supporting Foundation?
The Norman & Elaine Polsky Family Supporting Foundation's mission is centered around aiding smaller charitable organizations. Specifically, it aims to assist 501(c)(3) organizations with annual budgets under $5 million, helping them establish a Polsky Endowment. This, in turn, encourages these organizations to establish additional endowments within their own foundations. The foundation believes that endowments are crucial for securing a future for these organizations, as they can provide a steady source of funding. During the 2022 tax year, the foundation chose to focus on preserving its asset base, opting not to make any grants that year.
Who is the CEO of The Norman & Elaine Polsky Family Supporting Foundation?
Mark Allison is the Trustee of The Norman & Elaine Polsky Family Supporting Foundation.
What is the revenue of The Norman & Elaine Polsky Family Supporting Foundation?
The Norman & Elaine Polsky Family Supporting Foundation's revenue in 2022 was $40,581.
Who are the executives of The Norman & Elaine Polsky Family Supporting Foundation and what are their salaries?
Here are 23 key members and their salaries:
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Where can I find the form 990 for The Norman & Elaine Polsky Family Supporting Foundation?
The Norman & Elaine Polsky Family Supporting Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Norman & Elaine Polsky Family Supporting Foundation
The Norman & Elaine Polsky Family Supporting Foundation, with a focus on charitable, educational, or religious purposes, aims to assist 501(c)(3) organizations that have an annual budget under $5 million. The organization's mission is to encourage these smaller charities to establish their own endowments, believing that such endowments are crucial for their long-term sustainability. The Norman & Elaine Polsky Family Supporting Foundation's grants and awards are designed to help these organizations establish a Polsky Endowment. The hope is that this endowment will inspire the formation of additional endowments within the recipient charitable organizations, thereby securing their future. In 2022, the foundation chose to focus on preserving its asset base, thus not making any grants.
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Impact
October, 2024
The Norman & Elaine Polsky Family Supporting Foundation significantly impacts the charitable landscape by providing vital support to 501(c)(3) organizations, particularly those with annual budgets under $5 million. By offering grants that enable these organizations to establish Polsky endowments, the foundation fosters a culture of sustainability and long-term planning. This approach not only helps individual organizations solidify their financial future but also encourages the growth of additional endowments within the charitable sector.
In focusing on endowment support, the foundation aims to empower organizations to build their resources, ensuring that they can continue their missions over the long haul. While 2022 saw a pause in grant-making to preserve the foundation's asset base after significant contributions, the underlying strategy remains clear: to enhance the enduring capacity of smaller nonprofits. This forward-thinking philosophy underlines the foundation's commitment to strengthening the Greater Kansas City community and beyond, ultimately cultivating a robust network of charitable support that can thrive independently.
This information is meant to be a general summary of The Norman & Elaine Polsky Family Supporting Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $40,581
- Gross Receipts: $85,613
Assets and Liabilities:
- Total Assets: $2,183,520
- Total Liabilities: $2,000
- Net Assets: $2,181,520
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Organization Details
Founding Year
1990
Phone
(913) 341-8500Principal Officer
Mark Allison
Main Address
4801 WEST 110TH STREET 150, OVERLAND PARK, KS, 66211
NTEE Category
Code: T30 - Philanthropy
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