Nonprofit · EIN 45-4797578
DAVID AND JANET POLAK FOUNDATION
Tax-exempt · WILMINGTON, DE 19809
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $4,815,059 | $4,660,378 | $154,681 | $70,414,478 | $0 | $70,414,478 |
| December 31, 2023 | 990-PF | $4,905,865 | $5,496,971 | -$591,106 | $70,259,797 | $0 | $70,259,797 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $7,800
- Dividends
- $1,793,981
- Interest
- $136,837
- Net gain from sales of assets
- $1,642,733
- Other income
- $1,233,708
Expenses
- Grants and similar amounts paid
- $2,334,600
- Compensation of officers, directors and key employees
- $278,167
- Salaries, compensation and benefits (total)
- $89,500
- Disbursements for charitable purposes
- $3,309,299
- Excise tax on investment income
- $48,423
Balance sheet and other
- Total assets, start of year
- $70,259,797
- Total assets, end of year
- $70,414,478
- Total liabilities, end of year
- $0
- Net assets, end of year
- $70,414,478
- Fair market value of assets
- $81,278,194
- Qualifying distributions
- $3,684,299
- Net investment income
- $4,652,583
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jeff Polak Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir, Pres | 40 | $278,167 | $26,509 |
| Noreen L Rubio 4301 Mandalay Drive, Los Angeles, CA 90063 | ADMINISTRATIVE ASST Highest-paid employee | 40 | $89,500 | $940 |
| David Polak Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 | $0 |
| Janet Polak Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 | $0 |
| Robert Polak Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 | $0 |
| Jonathan Seltzer Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 | $0 |
990-PF for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jeff Polak Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir, Pres, Exec Dir | 40 | $278,130 | $11,000 |
| Noreen L Rubio 3850 N WILKE RD, ARLINGTON HEIGHTS, IL 60004 | ADMINISTRATIVE ASST Highest-paid employee | 40 | $89,000 | – |
| David Polak Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 | $0 |
| Janet Polak Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 | $0 |
| Robert Polak Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 | $0 |
| Jonathan Seltzer Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 501 SILVERSIDE RD STE 123, WILMINGTON, DE 19809-1377
- In care of
- % FOUNDATION SOURCE
- Signed the 990-PF
- JEFFREY POLAK, PRESIDENT
- Phone
- (800) 839-1754
- Return prepared by
- Foundation Source
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 45-4797578
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2014
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T22)
- Assets (IRS master file)
- $70,414,478
- Income (IRS master file)
- $36,915,812
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $4,815,059 | $4,660,378 | $70,414,478 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $4,905,865 | $5,496,971 | $70,259,797 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 45-4797578).
Questions about DAVID AND JANET POLAK FOUNDATION
- What is the EIN of DAVID AND JANET POLAK FOUNDATION?
- The employer identification number (EIN) of DAVID AND JANET POLAK FOUNDATION is 45-4797578.
- Is DAVID AND JANET POLAK FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
- Are donations to DAVID AND JANET POLAK FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does DAVID AND JANET POLAK FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of DAVID AND JANET POLAK FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did DAVID AND JANET POLAK FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of DAVID AND JANET POLAK FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 6 people; 2 received compensation from the organization, the highest $278,167 (Jeff Polak, Dir, Pres).
- How much revenue does DAVID AND JANET POLAK FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $4,815,059, expenses of $4,660,378 and total assets of $70,414,478 at year end.
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