Civic Intelligence

Foundation for Sephardic Studies Inc.

990 • Fiscal year 2016 • EIN 11-2553513

Dec 01, 2015 to Nov 30, 2016 • Filed on Dec 15, 2016

Organization Profile
730 Avenue SBrooklyn, NY 11223

(718) 382-6688

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

64th percentile

0.22x

Higher debt load relative to assets than 64% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

84th percentile

0.93x

Higher debt load relative to revenue than 84% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

18th percentile

-15%

Higher net margin than 18% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

27th percentile

-3.4%

Faster asset growth than 27% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

14th percentile

-22%

Faster revenue growth than 14% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets64th percentile

Assets

Down

$4,591,564

Down $163,219 (-3.4%) from 2015

Net Assets

Down

$3,569,546

Down $161,137 (-4.3%) from 2015

Liabilities

Down

$1,022,018

Down $2,082 (-0.2%) from 2015

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin18th percentile

Revenue

Down

$1,101,881

Down $318,059 (-22%) from 2015

Expenses

Down

$1,263,018

Down $79,694 (-5.9%) from 2015

Net Income

Down

-$161,137

Down $238,365 (-309%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2016

Assets$4,591,564
Liabilities$1,022,018
Net Assets$3,569,546
Open 2016 Filing

Operations Trend

Revenue Growth14th percentile

Revenue, expenses, and net income across loaded years, with this 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

2016

Revenue$1,101,881
Expenses$1,263,018
Net Income-$161,137
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2015 to Nov 30, 2016
Signed
Dec 15, 2016
Return Version
2015v3.0
Gross Receipts
$1,101,881
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$4,534,561$4,397,499▼ $137,062
Cash and Non-Interest-Bearing Accounts$204,733$181,728▼ $23,005
Prepaid Expenses and Deferred Charges$15,489$12,337▼ $3,152
Total Assets$4,754,783$4,591,564▼ $163,219
Liabilities
Other Liabilities$1,024,100$1,022,018▼ $2,082
Total Liabilities$1,024,100$1,022,018▼ $2,082
Net Assets / Fund Balance
Unrestricted Net Assets$3,730,683$3,569,546▼ $161,137
Total Net Assets Fund Balance$3,730,683$3,569,546▼ $161,137
Total Liabilities and Net Assets / Fund Balance$4,754,783$4,591,564▼ $163,219

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,440,293$1,772,256$5,212,549
Land$946,298-$946,298
Other Land Buildings$10,908$140,281$151,189
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Norman MandelOperation & Fin Resource DirectorFT$70,000$70,000

Board Members and Trustees

NameTitle
Ezra CattanPresident
Joseph ChehebarDirector
Raymond GindiDirector
Isaac GindiSecretarydirector
Abe AshkenazieTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,101,881
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,101,881
Change in Net Assets
$-161,137

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,101,881
Total Revenue per Audited Statements
$1,101,881
Total Revenue per Form 990
$1,101,881
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$732,124
Salaries, Compensation, and Employee Benefits$530,894
Total Fundraising Expense$43,929
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$368,912$122,971-$491,883
All Other Expenses$38,621$74,724$43,929$157,274
Depreciation Depletion$102,795$34,265-$137,060
Other Expenses$95,084$120,550-$95,084
Occupancy-$39,861-$39,861
Payroll Taxes$29,258$9,753-$39,011
Insurance-$27,398-$27,398
Office Expenses-$22,976-$22,976
Interest$19,996--$19,996
Fees for Services Accounting-$9,066-$9,066
Total Functional Expenses$757,525$461,564$43,929$1,263,018

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,263,018
Total Expenses per Audited Statements$1,263,018
Total Expenses per Form 990$1,263,018
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

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

Other Reported Liabilities

LiabilityAmount
Loan Payable$1,010,062
Expenses Payable$6,912
Credit Card$3,616
Payroll Libilities$1,428
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Form 990 is reviewed before it is filed by the secretary, the treasurer, operations & financial resources director, directors and others who requests to do so.”

CEO executive director top management comp Part VI line 15A

“The officers and directors compensation are reviewed and determined by the board members”

Governing documents etc available to public Part VI line 19

“Our documents are available upon request.”

Filing and Contact Details

Filer

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

Signing Officer

Name
Ezra Cattan
Title
President
Phone
7183826688
Signed
2016-12-15
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Mei CPA Pc
Address
1714 86TH STREET 2FL, BROOKLYN, NY 11214
Preparer
P Han Mei CPA
Phone
7189753363
Supplemental Narrative

Additional Explanations

List of other expenses Part IX line 24E

“Contributions $38,621telephone $5,514security $58,756other taxes $275licenses and permits $840bank service charges $9,339fundraising expenses $43,929”

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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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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt010908
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0140281
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0151189
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01010062
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13616
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt26912
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt31428
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LOAN PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CREDIT CARD
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2EXPENSES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PAYROLL LIBILITIES
IRS990ScheduleD/RevenueSubtotalAmt01101881
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04397499
IRS990ScheduleD/TotalExpensesPerForm990Amt01263018
IRS990ScheduleD/TotalLiabilityAmt01022018
IRS990ScheduleD/TotalRevenuePerForm990Amt01101881
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01101881
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01263018
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BEFORE IT IS FILED BY THE SECRETARY, THE TREASURER, OPERATIONS & FINANCIAL RESOURCES DIRECTOR, DIRECTORS AND OTHERS WHO REQUESTS TO DO SO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE OFFICERS AND DIRECTORS COMPENSATION ARE REVIEWED AND DETERMINED BY THE BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OUR DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONTRIBUTIONS $38,621TELEPHONE $5,514SECURITY $58,756OTHER TAXES $275LICENSES AND PERMITS $840BANK SERVICE CHARGES $9,339FUNDRAISING EXPENSES $43,929
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other expenses Part IX line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04754783
IRS990/TotalAssetsEOYAmt04591564
IRS990/TotalAssetsGrp/BOYAmt04754783
IRS990/TotalAssetsGrp/EOYAmt04591564
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01101881
IRS990/TotalEmployeeCnt015
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt043929
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0461564
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0757525
IRS990/TotalFunctionalExpensesGrp/TotalAmt01263018
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01024100
IRS990/TotalLiabilitiesEOYAmt01022018
IRS990/TotalLiabilitiesGrp/BOYAmt01024100
IRS990/TotalLiabilitiesGrp/EOYAmt01022018
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03730683
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03569546
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0757525
IRS990/TotalReportableCompFromOrgAmt070000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01101881
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04754783
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04591564
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03730683
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03569546
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0EZRA CATTAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07183826688
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-12-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION FOR SEPHARDIC STUDIES
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0112553513
ReturnHeader/Filer/USAddress/AddressLine1Txt0730 AVENUE S
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011223
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201931700
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MEI CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01714 86TH STREET 2FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BROOKLYN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011214
ReturnHeader/PreparerPersonGrp/PhoneNum07189753363
ReturnHeader/PreparerPersonGrp/PreparationDt02017-10-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0P HAN MEI CPA
ReturnHeader/ReturnTs02017-10-16T17:50:53-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-12-01
ReturnHeader/TaxPeriodEndDt02016-11-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,591,564
Liabilities
$1,022,018
Net assets
$3,569,546
Revenue
$1,101,881
Expenses
$1,263,018
Net income
-$161,137
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