Civic Intelligence

Foundation for Sephardic Studies Inc.

990 • Fiscal year 2018 • EIN 11-2553513

Dec 01, 2017 to Nov 30, 2018 • Filed on Jun 26, 2019

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

65th percentile

0.22x

Higher debt load relative to assets than 65% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

83rd percentile

0.76x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

17th percentile

-14%

Higher net margin than 17% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

27th percentile

-4.1%

Faster asset growth than 27% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

33rd percentile

-2.5%

Faster revenue growth than 33% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$4,295,897

Down $181,835 (-4.1%) from 2017

Net Assets

Down

$3,363,362

Down $149,516 (-4.3%) from 2017

Liabilities

Down

$932,535

Down $32,319 (-3.3%) from 2017

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin17th percentile

Revenue

Down

$1,232,622

Down $31,024 (-2.5%) from 2017

Expenses

Up

$1,399,512

Up $79,198 (+6.0%) from 2017

Net Income

Down

-$166,890

Down $110,222 (-195%) from 2017

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

2018

Assets$4,295,897
Liabilities$932,535
Net Assets$3,363,362
Open 2018 Filing

Operations Trend

Revenue Growth33rd 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

2018

Revenue$1,232,622
Expenses$1,399,512
Net Income-$166,890
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2017 to Nov 30, 2018
Signed
Jun 26, 2019
Return Version
2017v2.3
Gross Receipts
$1,232,622
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$4,252,521$4,124,863▼ $127,658
Cash and Non-Interest-Bearing Accounts$201,526$159,849▼ $41,677
Prepaid Expenses and Deferred Charges$16,549$3,272▼ $13,277
Total Assets$4,477,732$4,295,897▼ $181,835
Other Assets Total$7,136$7,913▲ $777
Liabilities
Other Liabilities$947,480$910,062▼ $37,418
Accounts Payable and Accrued Expenses-$22,473-
Total Liabilities$947,480$932,535▼ $14,945
Net Assets / Fund Balance
Unrestricted Net Assets$3,530,252$3,363,362▼ $166,890
Total Net Assets Fund Balance$3,530,252$3,363,362▼ $166,890
Total Liabilities and Net Assets / Fund Balance$4,477,732$4,295,897▼ $181,835

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,037,643$2,001,812$5,039,455
Land$946,298-$946,298
Leasehold Improvements$135,339$37,754$173,093
Equipment$5,583$145,605$151,188
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
$1,100,422
Program Service Revenue
$132,200
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,100,422
Change in Net Assets
$-166,890

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,232,622
Total Revenue per Audited Statements
$1,232,622
Total Revenue per Form 990
$1,232,622
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$806,430
Salaries, Compensation, and Employee Benefits$593,082
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$563,765--$563,765
All Other Expenses$189,482$86,464-$275,946
Depreciation Depletion-$135,722-$135,722
Other Expenses$63,856$153,861-$63,856
Fees for Services Accounting$42,797--$42,797
Payroll Taxes$29,317--$29,317
Total Functional Expenses$889,217$510,295$0$1,399,512

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,399,512
Total Expenses per Audited Statements$1,399,512
Total Expenses per Form 990$1,399,512
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$910,062
Loan to the bank-
Payroll Taxes payable-
Other Liabilities-
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11

“Form 990 is reviewed before is filed by the secretary, the treasurer, operations financia resourses directors and other who requested to do so.”

Form 990, Part VI, Line 15A

“The officers and directors compensations are reviewed and determoned by the board”

Form 990, Part VI, Line 19

“All financial documents are available for the review 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
Operation Director
Signed
2019-06-26
Discuss with paid preparer
Yes

Organization Details

Formed
1980
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
12

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/OtherLiabilitiesOrgGrp/Desc3Other Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4LAST YEAR ADJUSTMENT
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt01232622
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04124863
IRS990ScheduleD/TotalExpensesPerForm990Amt01399512
IRS990ScheduleD/TotalLiabilityAmt0910062
IRS990ScheduleD/TotalRevenuePerForm990Amt01232622
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01232622
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01399512
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BEFORE IS FILED BY THE SECRETARY, THE TREASURER, OPERATIONS FINANCIA RESOURSES DIRECTORS AND OTHER WHO REQUESTED TO DO SO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE OFFICERS AND DIRECTORS COMPENSATIONS ARE REVIEWED AND DETERMONED BY THE BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL FINANCIAL DOCUMENTS ARE AVAILABLE FOR THE REVIEW UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, 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/TotalAssetsBOYAmt04477732
IRS990/TotalAssetsEOYAmt04295897
IRS990/TotalAssetsGrp/BOYAmt04477732
IRS990/TotalAssetsGrp/EOYAmt04295897
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01100422
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0510295
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0889217
IRS990/TotalFunctionalExpensesGrp/TotalAmt01399512
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0947480
IRS990/TotalLiabilitiesEOYAmt0932535
IRS990/TotalLiabilitiesGrp/BOYAmt0947480
IRS990/TotalLiabilitiesGrp/EOYAmt0932535
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03530252
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03363362
IRS990/TotalProgramServiceRevenueAmt0132200
IRS990/TotalReportableCompFromOrgAmt070000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01232622
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04477732
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04295897
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03530252
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03363362
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0730 AVENUE S
IRS990/USAddress/CityNm0BROOKLYN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011223
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NORMAN MANDEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0OPERATION DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-06-26
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/AtSubmissionCreationDeviceId0F0F540C5B773EA146D7ED295E04C8A15F72673E4
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0F0F540C5B773EA146D7ED295E04C8A15F72673E4
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.203.121.136
ReturnHeader/FilingSecurityInformation/IPDt02019-06-26
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm016:11:10
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/PreparationDt02019-06-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Tatyana Blecic CPA
ReturnHeader/ReturnTs02019-06-26T12:19:40-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-12-01
ReturnHeader/TaxPeriodEndDt02018-11-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,295,897
Liabilities
$932,535
Net assets
$3,363,362
Revenue
$1,232,622
Expenses
$1,399,512
Net income
-$166,890
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