Nonprofits/Organizations/48-1092843

Active

501(c)(3)

Form 990

Norman & Elaine Polsky Family Foundation

Name: Norman & Elaine Polsky Family Foundation IRS Form 990 Financial Data
Creator: Internal Revenue Service

DBA: THE NORMAN & ELAINE POLSKY FAMILY

EIN 48-1092843OVERLAND PARK, KS 66211Founded 1990WebsiteIRS Tax Year 2023 · Period ending December 31, 2023

Mission Statement

THE ORGANIZATION IS DESIGNED TO PROVIDE SUPPORT FOR OTHER CHARITABLE ORGANIZATIONS AS DESCRIBED IN SECTION 501(C) AND SECTION 509(A) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, OR RELIGIOUS PURPOSES. IT SUPPORTS ACTIVITIES FOR THE BENEFIT OF, PERFORMS THE FUNCTIONS OF, OR CARRIES OUT THE PURPOSE OF, THE GREATER KANSAS CITY COMMUNITY FOUNDATION.

IRS Tax Year 2023

Period ending December 31, 2023

Tax year 2024 filing not yet available. This is the most recent filing on record.

Total Revenue

$105K

+159.4%YoY

Total Expenses

$526K

+1865.1%YoY

Net Assets

$2.0M

-9.6%YoY

Employees

—

Grants Paid

$500K

Program Expense Ratio

95.1%

This nonprofit profile presents IRS Form 990 tax filing data for Norman & Elaine Polsky Family Foundation (EIN: 48-1092843), based on the 2023 tax year annual return filed with the Internal Revenue Service.

Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, governance policies and audit information. All figures are reported in USD as filed.

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RoundPaper IndicatorsTax Year 2023

Financial Health

Revenue grew +159.4% to $105K

Program spending ratio of 95.1% — excellent

45.0 months of operating reserves — strong cushion

Expenses increased +1865.1% year-over-year

Transparency

Conflict of interest policy adopted

Whistleblower policy not in place

Financial statements not audited

23-member board, 23 independent

Compensation

No Schedule J filed — standard compensation reporting only

Program Effectiveness

1 program reported

95.1% of spending goes to programs

No programs generate independent revenue

$500K in grants paid to other organizations

Financial Stability

Debt-to-asset ratio of 0.1% — low leverage

0.0 months cash runway — tight liquidity

Revenue diversification: concentrated in few sources

Net assets trending upward over recent filings

Risk Flags

No insider or excess benefit transactions

No material diversion or misuse reported

Family or business relationships among officers/directors

Indicators derived from IRS Form 990 data. Not financial advice.

Organization Summary

Norman & Elaine Polsky Family Foundation is a 501(c)(3) nonprofit headquartered in OVERLAND PARK, KS, founded in 1990. The organization has held tax-exempt status since 1992. In its 2023 filing, the organization reported $105K in total revenue, a 159.4% increase from the prior year, and $526K in total expenses. The organization runs 1 program, totaling $500K in program expenses. 2 of 6 recommended governance policies are in place.

Programs(Tax Year 2023)

1 record

Programs Overview

Norman & Elaine Polsky Family Foundation operates 1 program, with total program expenses of $500K. Norman & Elaine Polsky Family Foundation's largest program accounts for 100% of total program spending.

Program 1Expenses: $500,000

THE NORMAN & ELAINE POLSKY FAMILY SUPPORTING FOUNDATION (PFSF) PROVIDES GRANTS AND AWARDS TO OTHER 501(C)(3) CHARITABLE ORGANIZATIONS IN ORDER TO ALLOW THESE OTHER ORGANIZATIONS TO ESTABLISH PFSF ENDOWMENTS WITH THE HOPE THAT THE PFSF ENDOWMENT WILL ENCOURAGE THE FORMATION OF ADDITIONAL ENDOWMENTS WITHIN THE RECIPIENT CHARITABLE ORGANIZATION. DURING THE 2023 TAX YEAR, PFSF MADE GRANTS TOTALING $500,000 TO THREE 501(C)(3) CHARITABLE ORGANIZATIONS.

Financial Overview(Tax Years 2019–2023)

5 records

Financial Highlights

Over the past 5 years, Norman & Elaine Polsky Family Foundation's revenue has grown from $17K to $105K, a 518.4% increase. Program expenses represent 95% of total spending.

Revenue increased 159.4% year-over-year, while expenses grew 1865.1%. net assets fell to $2.0M, down 9.6% from the prior year.

Norman & Elaine Polsky Family Foundation derives 100% from investment income.

Norman & Elaine Polsky Family Foundation allocates 95% to programs, 1% to management and general.

Expenses grew by 1865.1%, outpacing revenue growth of 159.4% — a trend to watch if it continues.

Norman & Elaine Polsky Family Foundation distributed $500K in grants to other organizations and individuals, representing 95% of total expenses.

Over 5 filings from 2019–2023, Norman & Elaine Polsky Family Foundation grew revenue from $17K to $105K (+518.4%) while maintaining a program expense ratio of 95%.

Norman & Elaine Polsky Family Foundation holds $2.0M in total assets against $2K in liabilities (debt-to-asset ratio of 0%). The organization has 45.0 months of operating reserves. Cash and equivalents of $0 cover approximately 0.0 months of expenses.

Revenue

Year	Total Revenue	Contributions	Gov't Grants	Program Revenue	Investment
2023	$105K	$0	$0	$0	$105K
2022	$41K	$0	$0	$0	$41K
2021	$203K	$0	$0	$0	$203K
2020	$63K	$0	$0	$0	$63K
2019	$17K	$0	$0	$0	$17K

Expenses

Year	Total Expenses	Program	Management	Fundraising	Grants Paid
2023	$526K	$500K	$3K	$0	$500K
2022	$27K	$0	$27K	$0	$0
2021	$312K	$283K	$29K	$0	$283K
2020	$343K	$317K	$26K	$0	$317K
2019	$26K	$0	$26K	$0	$0

Program Expense Ratio

95.1%

Admin Expense Ratio

0.6%

Fundraising Efficiency

—

Operating Reserve

45.0 mo

People & Compensation(Tax Year 2023)

23 records

Compensation Summary

Norman & Elaine Polsky Family Foundation reported compensation for 23 officers and key employees.

Name	Title	Type	Hours/wk	Comp from Org	Related Orgs	Total
SUSAN MCGREEVY	VICE-PRESIDENT/TRUSTEE	OfficerDirector	0.10	$0	$0	$0
JAMES ROSENBLOOM	TREASURER/TRUSTEE	OfficerDirector	0.10	$0	$0	$0
ELLEN POLSKY	SECRETARY/TRUSTEE	OfficerDirector	0.10	$0	$0	$0
MARK ALLISON	TRUSTEE	Director	0.10	$0	$0	$0
MAYOR PEGGY DUNN	TRUSTEE	Director	0.10	$0	$0	$0
LARRY SILVER	PRESIDENT/TRUSTEE	OfficerDirector	0.10	$0	$0	$0
JOAN ISRAELITE	TRUSTEE	Director	0.10	$0	$0	$0
KAREN POLSKY KENT	TRUSTEE	Director	0.10	$0	$0	$0
AUTUMN KENT DESIMONE	TRUSTEE	Director	0.10	$0	$0	$0
MILTON BROD	TRUSTEE	Director	0.10	$0	$0	$0
JULIE BARRY	TRUSTEE	Director	0.10	$0	$0	$0
JEFFREY ALPERT	TRUSTEE	Director	0.10	$0	$0	$0
STEVE POLSKY	TRUSTEE	Director	0.10	$0	$0	$0
ADRIAN SALAZAR	TRUSTEE	Director	0.10	$0	$0	$0
JENNIFER SALAZAR	TRUSTEE	Director	0.10	$0	$0	$0
ROBERT REGNIER	TRUSTEE	Director	0.10	$0	$0	$0
HOWARD JACOBSON	TRUSTEE	Director	0.10	$0	$0	$0
SCOTT SLABOTSKY	TRUSTEE	Director	0.10	$0	$0	$0
JACKIE SNYDER	TRUSTEE	Director	0.10	$0	$0	$0
COREY ZIEGLER	TRUSTEE	Director	0.10	$0	$0	$0
JOSEPH POLSKY	TRUSTEE	Director	0.10	$0	$0	$0
RENEE POLSKY SILVER	TRUSTEE	Director	0.10	$0	$0	$0
MARK OLIVER	TRUSTEE	Director	0.10	$0	$0	$0

Governance & Compliance(Tax Year 2023)

Governance Snapshot

Norman & Elaine Polsky Family Foundation has 2 of 6 recommended governance policies in place, including conflict of interest. Its board has 23 members, 23 of whom are independent.

Norman & Elaine Polsky Family Foundation does not have audited financial statements, an audit committee oversees the process.

Norman & Elaine Polsky Family Foundation has family or business relationships among officers, directors, or key employees.

Policies & Oversight

Conflict of interest policy

Whistleblower policy

Document retention policy

CEO compensation review process

Other officer compensation review

990 provided to governing body

Board members23

Independent members23

Audit & Financial Oversight

Financial statements audited

Independent audit

Audit committee

Federal grant audit required

Grants Awarded(Tax Year 2023)

4 records

Grantmaking Summary

Norman & Elaine Polsky Family Foundation awarded $500K across 4 grants to organizations. Top recipients include JEWISH FEDERATION OF GREATER KANSAS CITY (OVERLAND PARK, KS) — $250K for help establish pj library endowment; JEWISH FEDERATION OF GREATER KANSAS CITY (OVERLAND PARK, KS) — $100K for israel emergency relief; CONGREGATION BETH SHALOM (OVERLAND PARK, KS) — $100K for building fund for new sanctuary.

Organization Grants

Recipient	Location	Amount	Purpose
JEWISH FEDERATION OF GREATER KANSAS CITY440545913	OVERLAND PARK, KS	$250K	HELP ESTABLISH PJ LIBRARY ENDOWMENT
JEWISH FEDERATION OF GREATER KANSAS CITY440545913	OVERLAND PARK, KS	$100K	ISRAEL EMERGENCY RELIEF
CONGREGATION BETH SHALOM440545988	OVERLAND PARK, KS	$100K	BUILDING FUND FOR NEW SANCTUARY
HADASSAH THE WOMEN'S ZIONIST ORGANIZATION OF AMERICA131656651	NEW YORK, NY	$50K	HADASSAH CRISIS FUND

Filing History(Tax Years 1992–2023)

5 records

Showing the 5 Form 990 filings currently in our system.

Tax Year	Form	Period	Revenue	Expenses	Net Assets
2023	990	2023-01-01 – 2023-12-31	$105K	$526K	$2.0M
2022	990	2022-01-01 – 2022-12-31	$41K	$27K	$2.2M
2021	990	2021-01-01 – 2021-12-31	$203K	$312K	$2.7M
2020	990	2020-01-01 – 2020-12-31	$63K	$343K	$2.5M
2019	990	2019-01-01 – 2019-12-31	$17K	$26K	$2.4M
1992–2018	No filings acquired yet

Frequently Asked Questions

What does Norman & Elaine Polsky Family Foundation do?

How much revenue does Norman & Elaine Polsky Family Foundation have?

Norman & Elaine Polsky Family Foundation reported $105,272 in total revenue for tax year 2023, up 159.4% from the prior year.

Who is the highest-paid executive at Norman & Elaine Polsky Family Foundation?

SUSAN MCGREEVY, VICE-PRESIDENT/TRUSTEE, received $0 in total compensation as of tax year 2023.

Is Norman & Elaine Polsky Family Foundation a 501(c)(3)?

Yes, Norman & Elaine Polsky Family Foundation is classified as a 501(c)(3) tax-exempt organization.

Where is Norman & Elaine Polsky Family Foundation located?

Norman & Elaine Polsky Family Foundation is headquartered in OVERLAND PARK, KS 66211.

Is Norman & Elaine Polsky Family Foundation audited?

No, Norman & Elaine Polsky Family Foundation does not currently have audited financial statements.

Does Norman & Elaine Polsky Family Foundation give grants?

Yes, Norman & Elaine Polsky Family Foundation distributed $500,000 in grants to other organizations and individuals in tax year 2023. Top recipients include JEWISH FEDERATION OF GREATER KANSAS CITY, JEWISH FEDERATION OF GREATER KANSAS CITY, CONGREGATION BETH SHALOM.

Data Source

Prepared by: O'HALLORAN SHERMAN ASSOCIATES LLC

IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.

Publicly available IRS data

Verified filing records

Updated quarterly