Civic Intelligence

Foundation for Sephardic Studies Inc.

990 • Fiscal year 2020 • EIN 11-2553513

Dec 01, 2019 to Nov 30, 2020 • Filed on May 04, 2021

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.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

83rd percentile

0.84x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

18th percentile

-16%

Higher net margin than 18% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

17th percentile

-3.9%

Faster asset growth than 17% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

20th percentile

-24%

Faster revenue growth than 20% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets64th percentile

Assets

Down

$4,174,443

Down $170,768 (-3.9%) from 2019

Net Assets

Down

$3,251,372

Down $170,738 (-5.0%) from 2019

Liabilities

Down

$923,071

Down $30 (-0.0%) from 2019

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin18th percentile

Revenue

Down

$1,095,709

Down $353,986 (-24%) from 2019

Expenses

Down

$1,266,447

Down $124,120 (-8.9%) from 2019

Net Income

Down

-$170,738

Down $229,866 (-389%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth17th 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

2020

Assets$4,174,443
Liabilities$923,071
Net Assets$3,251,372
Open 2020 Filing

Operations Trend

Revenue Growth20th 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

2020

Revenue$1,095,709
Expenses$1,266,447
Net Income-$170,738
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2019 to Nov 30, 2020
Signed
May 4, 2021
Return Version
2019v5.1
Gross Receipts
$1,095,709
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$3,994,516$3,863,591▼ $130,925
Cash and Non-Interest-Bearing Accounts$340,947$283,461▼ $57,486
Prepaid Expenses and Deferred Charges$3,272$7,940▲ $4,668
Total Assets$4,345,211$4,174,443▼ $170,768
Other Assets Total$6,476$19,451▲ $12,975
Liabilities
Other Liabilities$910,062$914,884▲ $4,822
Accounts Payable and Accrued Expenses$13,039$8,187▼ $4,852
Total Liabilities$923,101$923,071▼ $30
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,422,110$3,251,372▼ $170,738
Total Net Assets Fund Balance$3,422,110$3,251,372▼ $170,738
Total Liabilities and Net Assets / Fund Balance$4,345,211$4,174,443▼ $170,768

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,784,559$2,254,896$5,039,455
Land$946,298-$946,298
Leasehold Improvements$126,463$46,630$173,093
Equipment$6,271$150,094$156,365
Compensation and Service Providers
Top Officer Pay37th 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
$772,681
Program Service Revenue
$323,028
Investment Income
$0
Other Revenue
$0
All Other Contributions
$703,000
Change in Net Assets
$-170,738

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,095,709
Total Revenue per Audited Statements
$1,095,709
Total Revenue per Form 990
$1,095,709
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$761,121
Salaries, Compensation, and Employee Benefits$505,326
Total Fundraising Expense$103,852
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$306,415$171,169-$477,584
Office Expenses$93,293$89,994$54$183,341
Depreciation Depletion$87,396$48,821-$136,217
Fees for Services Other--$103,798$103,798
All Other Expenses$36,753$20,531-$57,284
Payroll Taxes$17,799$9,943-$27,742
Interest-$26,467-$26,467
Other Expenses$13,713$7,660-$21,373
Total Functional Expenses$745,311$417,284$103,852$1,266,447

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,266,447
Total Expenses per Audited Statements$1,266,447
Total Expenses per Form 990$1,266,447
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising$69,681$69,681$103,798$-34,117
Total Events$69,681$69,681$103,798$-34,117
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$835,062
Line of credit$79,822
SBA loan 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
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 11

“Form 990 is reviewed by the board of directors”

Form 990, Part VI, Line 12

“Total revenue is used to operate the organization”

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 Officer
Signed
2021-05-04
Discuss with paid preparer
Yes

Organization Details

Formed
1980
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0

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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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0NORMAN MANDEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE OFFICER
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION FOR SEPHARDIC STUDIES
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
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ReturnHeader/Filer/PhoneNum07183826688
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ReturnHeader/PreparerPersonGrp/PhoneNum07183920240
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Tatyana Blecic CPA
ReturnHeader/ReturnTs02021-05-04T03:06:04-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-12-01
ReturnHeader/TaxPeriodEndDt02020-11-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,174,443
Liabilities
$923,071
Net assets
$3,251,372
Revenue
$1,095,709
Expenses
$1,266,447
Net income
-$170,738
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