Civic Intelligence

Foundation for Sephardic Studies Inc.

990 • Fiscal year 2019 • EIN 11-2553513

Dec 01, 2018 to Nov 30, 2019 • Filed on Mar 15, 2020

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

66th percentile

0.21x

Higher debt load relative to assets than 66% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

82nd percentile

0.64x

Higher debt load relative to revenue than 82% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

52nd percentile

4.1%

Higher net margin than 52% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

44th percentile

1.1%

Faster asset growth than 44% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

72nd percentile

18%

Faster revenue growth than 72% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$4,345,211

Up $49,314 (+1.1%) from 2018

Net Assets

Up

$3,422,110

Up $58,748 (+1.7%) from 2018

Liabilities

Down

$923,101

Down $9,434 (-1.0%) from 2018

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin52nd percentile

Revenue

Up

$1,449,695

Up $217,073 (+18%) from 2018

Expenses

Down

$1,390,567

Down $8,945 (-0.6%) from 2018

Net Income

Up

$59,128

Up $226,018 (+135%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth44th 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

2019

Assets$4,345,211
Liabilities$923,101
Net Assets$3,422,110
Open 2019 Filing

Operations Trend

Revenue Growth72nd 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

2019

Revenue$1,449,695
Expenses$1,390,567
Net Income$59,128
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2018 to Nov 30, 2019
Signed
Mar 15, 2020
Return Version
2018v3.1
Gross Receipts
$1,449,695
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$4,124,863$3,994,516▼ $130,347
Cash and Non-Interest-Bearing Accounts$159,849$340,947▲ $181,098
Prepaid Expenses and Deferred Charges$3,272$3,272→ $0
Total Assets$4,295,897$4,345,211▲ $49,314
Other Assets Total$7,913$6,476▼ $1,437
Liabilities
Other Liabilities$910,062$910,062→ $0
Accounts Payable and Accrued Expenses$22,473$13,039▼ $9,434
Total Liabilities$932,535$923,101▼ $9,434
Net Assets / Fund Balance
Unrestricted Net Assets$3,363,362$3,422,110▲ $58,748
Total Net Assets Fund Balance$3,363,362$3,422,110▲ $58,748
Total Liabilities and Net Assets / Fund Balance$4,295,897$4,345,211▲ $49,314

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,913,776$2,125,679$5,039,455
Land$946,298-$946,298
Leasehold Improvements$130,901$42,192$173,093
Equipment$3,541$147,647$151,188
Compensation and Service Providers
Top Officer Pay36th percentile

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
$1,101,115
Program Service Revenue
$348,580
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,101,115
Change in Net Assets
$59,128

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,449,695
Total Revenue per Audited Statements
$1,449,695
Total Revenue per Form 990
$1,449,695
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$880,497
Salaries, Compensation, and Employee Benefits$510,070
Total Fundraising Expense$79,870
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$292,521$188,946-$481,467
All Other Expenses$129,876$33,900-$163,776
Depreciation Depletion-$135,698-$135,698
Conferences and Meetings--$79,870$79,870
Other Expenses$54,584$140,861-$54,584
Insurance$31,690--$31,690
Interest-$29,877-$29,877
Payroll Taxes$28,603--$28,603
Fees for Services Accounting-$14,238-$14,238
Office Expenses-$3,644-$3,644
Total Functional Expenses$763,533$547,164$79,870$1,390,567

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,390,837
Expenses per Audited Statements$1,390,567
Total Expenses per Form 990$1,390,567
Expenses Not Reported on Form 990$270
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
Yes
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 by the board of directors and other who request to do so”

Form 990, Part VI, Line 15A

“The officer and directors compensation are reviewed and determined 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
President
Signed
2020-03-15
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
Raw XML Appendix387 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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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
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IRS990ScheduleD/RevenueSubtotalAmt01449695
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03994516
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IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS AND OTHER WHO REQUEST TO DO SO
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE OFFICER AND DIRECTORS COMPENSATION ARE REVIEWED AND DETERMINED 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
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt012
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0547164
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0763533
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IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-22 18:59:49Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NORMAN MANDEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION FOR SEPHARDIC STUDIES
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0112553513
ReturnHeader/Filer/PhoneNum07183826688
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ReturnHeader/FilingSecurityInformation/IPDt02020-03-15
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ReturnHeader/FilingSecurityInformation/IPTm018:10:13
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/PreparationDt02020-03-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Tatyana Blecic CPA
ReturnHeader/ReturnTs02020-03-15T03:14:22-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-12-01
ReturnHeader/TaxPeriodEndDt02019-11-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,345,211
Liabilities
$923,101
Net assets
$3,422,110
Revenue
$1,449,695
Expenses
$1,390,567
Net income
$59,128
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