Civic Intelligence

Foundation for Sephardic Studies Inc.

990 • Fiscal year 2017 • EIN 11-2553513

Dec 01, 2016 to Nov 30, 2017 • Filed on Oct 15, 2018

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.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

83rd percentile

0.76x

Higher debt load relative to revenue than 83% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

28th percentile

-4.5%

Higher net margin than 28% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

28th percentile

-2.5%

Faster asset growth than 28% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

68th percentile

15%

Faster revenue growth than 68% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets64th percentile

Assets

Down

$4,477,732

Down $113,832 (-2.5%) from 2016

Net Assets

Down

$3,512,878

Down $56,668 (-1.6%) from 2016

Liabilities

Down

$964,854

Down $57,164 (-5.6%) from 2016

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin28th percentile

Revenue

Up

$1,263,646

Up $161,765 (+15%) from 2016

Expenses

Up

$1,320,314

Up $57,296 (+4.5%) from 2016

Net Income

Up

-$56,668

Up $104,469 (+65%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth28th 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

2017

Assets$4,477,732
Liabilities$964,854
Net Assets$3,512,878
Open 2017 Filing

Operations Trend

Revenue Growth68th 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

2017

Revenue$1,263,646
Expenses$1,320,314
Net Income-$56,668
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2016 to Nov 30, 2017
Signed
Oct 15, 2018
Return Version
2016v3.0
Gross Receipts
$1,263,646
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$4,397,499$4,252,521▼ $144,978
Cash and Non-Interest-Bearing Accounts$181,728$201,526▲ $19,798
Prepaid Expenses and Deferred Charges$12,337$16,549▲ $4,212
Total Assets$4,591,564$4,477,732▼ $113,832
Other Assets Total-$7,136-
Liabilities
Other Liabilities$1,022,018$964,854▼ $57,164
Total Liabilities$1,022,018$964,854▼ $57,164
Net Assets / Fund Balance
Unrestricted Net Assets$3,569,546$3,512,878▼ $56,668
Total Net Assets Fund Balance$3,569,546$3,512,878▼ $56,668
Total Liabilities and Net Assets / Fund Balance$4,591,564$4,477,732▼ $113,832

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,208,638$2,472,241$5,346,233
Land$946,298-$946,298
Leasehold Improvements$95,005$94,308$198,963
Equipment$2,580$140,958$143,538
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
Isaac GindiSecretary/director
Raymond GindiSecretary/director
Abe AshkenazieTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,263,646
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,263,646
Change in Net Assets
$-56,668

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,263,646
Total Revenue per Audited Statements
$1,263,646
Total Revenue per Form 990
$1,263,646
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$793,160
Salaries, Compensation, and Employee Benefits$527,154
Total Fundraising Expense$1,546
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$364,550$121,517-$486,067
All Other Expenses$128,465$42,821$1,546$171,286
Depreciation Depletion$102,795$34,265-$137,060
Other Expenses$70,347$129,049-$70,347
Payroll Taxes$30,815$10,272-$41,087
Insurance-$28,281-$28,281
Interest$23,337--$23,337
Fees for Services Accounting-$8,883-$8,883
Office Expenses-$5,024-$5,024
Total Functional Expenses$940,202$380,112$1,546$1,320,314

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,320,314
Total Expenses per Audited Statements$1,320,314
Total Expenses per Form 990$1,320,314
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$910,062
Payroll Taxes payable$26,673
Other Liabilities$21,965
Loan to the bank$6,154
Last Year Adjustment-
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, Part VI, Line LINE 11

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

Form 990, Part VI, Line 15A

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

Form 990, Part VI, Line 19

“Our documents are available upon request”

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
Executive Director
Signed
2018-10-15
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
48-19 43rd Avenue, Sunnyside, NY 11104
Preparer
Tatyana Blecic CPA
Phone
7183920240
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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/BuildingsGrp/BookValueAmt03208638
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02472241
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05346233
IRS990ScheduleD/EquipmentGrp/BookValueAmt02580
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0140958
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0143538
IRS990ScheduleD/ExpensesSubtotalAmt01320314
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0946298
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0946298
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt095005
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt094308
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0198963
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0910062
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt16154
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt226673
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt321965
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Loan to the bank
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Payroll Taxes payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Other Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4LAST YEAR ADJUSTMENT
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt01263646
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04252521
IRS990ScheduleD/TotalExpensesPerForm990Amt01320314
IRS990ScheduleD/TotalLiabilityAmt0964854
IRS990ScheduleD/TotalRevenuePerForm990Amt01263646
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01263646
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01320314
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BEFORE IT IS FILED BY THE SECRETARY, THE TREASURER, OPERATIONS FINANCIAL RESOURSES 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/FormAndLineReferenceDesc0Form 990, Part VI, Line LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04591564
IRS990/TotalAssetsEOYAmt04477732
IRS990/TotalAssetsGrp/BOYAmt04591564
IRS990/TotalAssetsGrp/EOYAmt04477732
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01263646
IRS990/TotalEmployeeCnt015
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01546
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0380112
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0940202
IRS990/TotalFunctionalExpensesGrp/TotalAmt01320314
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01022018
IRS990/TotalLiabilitiesEOYAmt0964854
IRS990/TotalLiabilitiesGrp/BOYAmt01022018
IRS990/TotalLiabilitiesGrp/EOYAmt0964854
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03569546
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03512878
IRS990/TotalProgramServiceExpensesAmt0940202
IRS990/TotalReportableCompFromOrgAmt070000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01263646
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04591564
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04477732
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03569546
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03512878
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0730 AVENUE S
IRS990/USAddress/CityNm0BROOKLYN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011223
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NORMAN MANDEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION FOR SEPHARDIC STUDIES
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0112553513
ReturnHeader/Filer/PhoneNum07183826688
ReturnHeader/Filer/USAddress/AddressLine1Txt0730 AVENUE S
ReturnHeader/Filer/USAddress/CityNm0Brooklyn
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011223
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0D4CD2813D57F5745F3BD4B8167D7DB40A33D3A8D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D4CD2813D57F5745F3BD4B8167D7DB40A33D3A8D
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.124.215.221
ReturnHeader/FilingSecurityInformation/IPDt02018-10-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm000:28:03
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BB Tax & Advisory Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt048-19 43rd Avenue
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Sunnyside
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011104
ReturnHeader/PreparerPersonGrp/PhoneNum07183920240
ReturnHeader/PreparerPersonGrp/PreparationDt02018-10-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Tatyana Blecic CPA
ReturnHeader/ReturnTs02018-10-15T08:29:28-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-12-01
ReturnHeader/TaxPeriodEndDt02017-11-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,477,732
Liabilities
$964,854
Net assets
$3,512,878
Revenue
$1,263,646
Expenses
$1,320,314
Net income
-$56,668
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