Civic Intelligence

Foundation for Sephardic Studies

EIN 11-2553513 • 501(c)3 • Brooklyn, NY

Profile

Foundation has been dedicated to enhance and promoting the culture of the sephardic jewish communities.

730 Avenue SBrooklyn, NY 11223
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

68th percentile

0.22x

Higher debt load relative to assets than 68% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

77th percentile

0.38x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

46th percentile

2.7%

Higher net margin than 46% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

42nd percentile

1.1%

Faster asset growth than 42% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

76th percentile

29%

Faster revenue growth than 76% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$3,826,801

Down $85,620 (-2.2%) from 2023

Liabilities

Down

$823,656

Down $18,945 (-2.2%) from 2023

Net Assets

Down

$3,003,145

Down $66,675 (-2.2%) from 2023

Operations
Liabilities / Revenue77th percentileNet Margin46th percentile

Revenue

Up

$3,005,633

Up $783,945 (+35%) from 2023

Expenses

Up

$3,072,308

Up $909,899 (+42%) from 2023

Net Income

Down

-$66,675

Down $125,954 (-212%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth42nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $5,194,455Liabilities 2011: $1,568,194Net Assets 2011: $3,626,2612011Assets 2012: $5,106,027Liabilities 2012: $1,460,262Net Assets 2012: $3,645,7652012Assets 2013: $4,937,497Liabilities 2013: $1,385,180Net Assets 2013: $3,552,3172013Assets 2014: $4,903,005Liabilities 2014: $1,249,550Net Assets 2014: $3,653,4552014Assets 2015: $4,754,783Liabilities 2015: $1,024,100Net Assets 2015: $3,730,6832015Assets 2016: $4,591,564Liabilities 2016: $1,022,018Net Assets 2016: $3,569,5462016Assets 2017: $4,477,732Liabilities 2017: $964,854Net Assets 2017: $3,512,8782017Assets 2018: $4,295,897Liabilities 2018: $932,535Net Assets 2018: $3,363,3622018Assets 2019: $4,345,211Liabilities 2019: $923,101Net Assets 2019: $3,422,1102019Assets 2020: $4,174,443Liabilities 2020: $923,071Net Assets 2020: $3,251,3722020Assets 2021: $4,103,734Liabilities 2021: $789,322Net Assets 2021: $3,314,4122021Assets 2022: $3,870,313Liabilities 2022: $859,772Net Assets 2022: $3,010,5412022Assets 2023: $3,912,421Liabilities 2023: $842,601Net Assets 2023: $3,069,8202023Assets 2024: $3,826,801Liabilities 2024: $823,656Net Assets 2024: $3,003,1452024

Highlighted filing

2024

Assets$3,826,801
Liabilities$823,656
Net Assets$3,003,145
Open 2024 Filing

Operations Trend

Revenue Growth76th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $1,203,7732011Expenses 2012: $996,9382012Revenue 2013: $873,777Expenses 2013: $967,225Net Income 2013: -$93,4482013Revenue 2014: $1,197,871Expenses 2014: $1,096,733Net Income 2014: $101,1382014Revenue 2015: $1,419,940Expenses 2015: $1,342,712Net Income 2015: $77,2282015Revenue 2016: $1,101,881Expenses 2016: $1,263,018Net Income 2016: -$161,1372016Revenue 2017: $1,263,646Expenses 2017: $1,320,314Net Income 2017: -$56,6682017Revenue 2018: $1,232,622Expenses 2018: $1,399,512Net Income 2018: -$166,8902018Revenue 2019: $1,449,695Expenses 2019: $1,390,567Net Income 2019: $59,1282019Revenue 2020: $1,095,709Expenses 2020: $1,266,447Net Income 2020: -$170,7382020Revenue 2021: $1,451,621Expenses 2021: $1,388,581Net Income 2021: $63,0402021Revenue 2022: $1,720,510Expenses 2022: $2,024,381Net Income 2022: -$303,8712022Revenue 2023: $2,221,688Expenses 2023: $2,162,409Net Income 2023: $59,2792023Revenue 2024: $3,005,633Expenses 2024: $3,072,308Net Income 2024: -$66,6752024

Highlighted filing

2024

Revenue$3,005,633
Expenses$3,072,308
Net Income-$66,675
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,826,801
Liabilities
$823,656
Net assets
$3,003,145
Revenue
$3,005,633
Expenses
$3,072,308
Net income
-$66,675
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.83$0.82$3.00$3.01$3.07$0.07
2023Detailed filing. Detailed filing data is available for this year.$3.91$0.84$3.07$2.22$2.16$0.06
2022Detailed filing. Detailed filing data is available for this year.$3.87$0.86$3.01$1.72$2.02$0.30
2021Detailed filing. Detailed filing data is available for this year.$4.10$0.79$3.31$1.45$1.39$0.06
2020Detailed filing. Detailed filing data is available for this year.$4.17$0.92$3.25$1.10$1.27$0.17
2019Detailed filing. Detailed filing data is available for this year.$4.35$0.92$3.42$1.45$1.39$0.06
2018Detailed filing. Detailed filing data is available for this year.$4.30$0.93$3.36$1.23$1.40$0.17
2017Detailed filing. Detailed filing data is available for this year.$4.48$0.96$3.51$1.26$1.32$0.06
2016Detailed filing. Detailed filing data is available for this year.$4.59$1.02$3.57$1.10$1.26$0.16
2015Detailed filing. Detailed filing data is available for this year.$4.75$1.02$3.73$1.42$1.34$0.08
2014Detailed filing. Detailed filing data is available for this year.$4.90$1.25$3.65$1.20$1.10$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.94$1.39$3.55$0.87$0.97$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.11$1.46$3.65$1.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.19$1.57$3.63$1.20
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Dec 1, 2023 to Nov 30, 2024
Signed
Apr 15, 2025
Return Version
2023v6.0
Gross Receipts
$3,005,633
Mission and Program Overview

Mission

Foundation has been dedicated to enhance and promoting the culture of the sephardic jewish communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,539,473$3,533,611▼ $5,862
Cash and Non-Interest-Bearing Accounts$347,085$286,234▼ $60,851
Total Assets$3,912,421$3,826,801▼ $85,620
Other Assets Total$25,863$6,956▼ $18,907
Liabilities
Other Liabilities$807,313$776,745▼ $30,568
Accounts Payable and Accrued Expenses$35,288$46,911▲ $11,623
Total Liabilities$842,601$823,656▼ $18,945
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,069,820$3,003,145▼ $66,675
Total Net Assets Fund Balance$3,069,820$3,003,145▼ $66,675
Total Liabilities and Net Assets / Fund Balance$3,912,421$3,826,801▼ $85,620

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,347,385$2,692,070$5,039,455
Land$946,298-$946,298
Equipment$178,977$207,521$386,498
Leasehold Improvements$60,951$139,589$200,540
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Solomon FallasPresident
Norman MandelOperation Fin. Resource Director
Isaac GindiSecretary/director
Raymond GindiSecretary/director
Seymour SammellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,791,815
Program Service Revenue
$213,818
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,641,815
Change in Net Assets
$-66,675

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,005,633
Total Revenue per Audited Statements
$3,005,633
Total Revenue per Form 990
$3,005,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,948,416
Salaries, Compensation, and Employee Benefits$870,349
Total Fundraising Expense$522,107
Grants and Similar Amounts Paid$253,543
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$719,542$150,807-$870,349
Occupancy$219,348$45,972-$265,320
Grants to Domestic Individuals$253,543--$253,543
Depreciation Depletion$139,606$29,261-$168,867
Other Expenses$487,677$131,392$522,107$131,392
Fees for Services Management-$62,902-$62,902
Office Expenses-$47,032-$47,032
Advertising-$46,911-$46,911
Insurance-$44,634-$44,634
All Other Expenses-$34,478-$34,478
Interest-$27,935-$27,935
Fees for Services Accounting$20,600$4,800-$25,400
Total Functional Expenses$1,924,077$626,124$522,107$3,072,308

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,072,308
Total Expenses per Audited Statements$3,072,308
Total Expenses per Form 990$3,072,308
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$776,745
Line of credit/Mortgage Payable-
SBA loan payable-
Other Liabilities-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line Line 11B

“Form 990 is provided to all members before filing. Approval is required and communicated to the tax preparer before filing forming.”

Form 990, Part VI, Line Line 19

“Audited financial statements are available through the nys charity website for the public to view.”

Filing and Contact Details

Filer

Filer Name
Foundation for Sephardic Studies
EIN
11-2553513
Phone
7183826688
Address
730 AVENUE S, BROOKLYN, NY 11223

Signing Officer

Name
Norman Mandel
Title
Board Member
Phone
7183826688
Signed
2025-04-15
Discuss with paid preparer
Yes

Organization Details

Formed
1980
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
15

Preparer

Firm
Bb Tax & Advisory Inc
Address
3636 33RD STREET SUITE 100, ASTORIA, NY 11106
Preparer
Tatyana Blecic CPA
Phone
7183920240
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line Line 12

“Revenue is unrestricted and can be used for opertional purposes”

Raw XML Appendix378 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVENUE IS UNRESTRICTED AND CAN BE USED FOR OPERTIONAL PURPOSES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PROVIDED TO ALL MEMBERS BEFORE FILING. APPROVAL IS REQUIRED AND COMMUNICATED TO THE TAX PREPARER BEFORE FILING FORMING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AUDITED FINANCIAL STATEMENTS ARE AVAILABLE THROUGH THE NYS CHARITY WEBSITE FOR THE PUBLIC TO VIEW.
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IRS990/UponRequestInd0X
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0NORMAN MANDEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD MEMBER
ReturnHeader/BusinessOfficerGrp/PhoneNum07183826688
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION FOR SEPHARDIC STUDIES
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ReturnHeader/Filer/PhoneNum07183826688
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BB TAX & ADVISORY INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03636 33RD STREET SUITE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ASTORIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011106
ReturnHeader/PreparerPersonGrp/PhoneNum07183920240
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Tatyana Blecic CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-04-15T02:50:22-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-12-01
ReturnHeader/TaxPeriodEndDt02024-11-30
ReturnHeader/TaxYr02023

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