Civic Intelligence

Friars National Association Foundation Inc

EIN 13-2906649 • 501(c)3 • New York, NY

Profile

To provide financial assistance in the form of grants and scholarships to deserving performing arts entities and other worthy organizations.

57 East 55th StreetNew York, NY 10022

www.friarsclub.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

55th percentile

0.10x

Higher debt load relative to assets than 55% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

90th percentile

1.22x

Higher debt load relative to revenue than 90% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

1st percentile

-330%

Higher net margin than 1% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

8th percentile

-22%

Faster asset growth than 8% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

74th percentile

27%

Faster revenue growth than 74% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$821,309

Down $236,816 (-22%) from 2014

Liabilities

Down

$78,092

Down $21,908 (-22%) from 2014

Net Assets

Down

$743,217

Down $214,908 (-22%) from 2014

Revenue

Up

$63,829

Up $13,448 (+27%) from 2014

Expenses

Down

$274,408

Down $44,778 (-14%) from 2014

Net Income

Up

-$210,579

Up $58,226 (+22%) from 2014

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2011: $2,009,608Liabilities 2011: $127,393Net Assets 2011: $1,882,2152011Assets 2012: $2,222,723Liabilities 2012: $390,975Net Assets 2012: $1,831,7482012Assets 2013: $1,583,046Liabilities 2013: $357,348Net Assets 2013: $1,225,6982013Assets 2014: $1,058,125Liabilities 2014: $100,000Net Assets 2014: $958,1252014Assets 2015: $821,309Liabilities 2015: $78,092Net Assets 2015: $743,2172015

Highlighted filing

2015

Assets$821,309
Liabilities$78,092
Net Assets$743,217

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $484,5172011Expenses 2012: $694,4742012Revenue 2013: $263,729Expenses 2013: $759,479Net Income 2013: -$495,7502013Revenue 2014: $50,381Expenses 2014: $319,186Net Income 2014: -$268,8052014Revenue 2015: $63,829Expenses 2015: $274,408Net Income 2015: -$210,5792015

Highlighted filing

2015

Revenue$63,829
Expenses$274,408
Net Income-$210,579

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 23, 2016
Return Version
2014v6.0
Gross Receipts
$3,136,121
Mission and Program Overview

Mission

To provide financial assistance in the form of grants and scholarships to deserving performing arts entities and other worthy organizations.

The friars national association foundation, inc (foundation) was incorporated in new york state on june 8, 1977. Its mission is to provide financial assistance in the form of grants and scholarships to deserving performing arts entities and other worthy organizations, after evaluation of the recipient organizations' qualifications by the grant committee. The grants are not restricted except that they are to be used for the purposes for which the recipient organization is formed. The funds used for these grants are received by the foundation from individuals' voluntary contributions and proceeds from fund-raising events such as the annual honorary dinner.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$810,601$387,871▼ $422,730
Prepaid Expenses and Deferred Charges$138,822$333,000▲ $194,178
Investments in Publicly Traded Securities$54,611$62,140▲ $7,529
Cash and Non-Interest-Bearing Accounts$25,000$25,000→ $0
Pledges and Grants Receivable$19,874$0▼ $19,874
Accounts Receivable$3,540$12,500▲ $8,960
Land, Buildings, and Equipment, Net$4,879$0▼ $4,879
Total Assets$1,058,125$821,309▼ $236,816
Other Assets Total$798$798→ $0
Liabilities
Accounts Payable and Accrued Expenses-$78,092-
Other Liabilities$50,000$0▼ $50,000
Deferred Revenue$50,000--
Total Liabilities$100,000$78,092▼ $21,908
Net Assets / Fund Balance
Temporarily Rstr Net Assets$397,393$417,931▲ $20,538
Unrestricted Net Assets$510,732$275,286▼ $235,446
Permanently Rstr Net Assets$50,000$50,000→ $0
Total Net Assets Fund Balance$958,125$743,217▼ $214,908
Total Liabilities and Net Assets / Fund Balance$1,058,125$821,309▼ $236,816

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$29,278$29,278

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$50,000-▲ $1,348$1,348$50,000
2013$50,000-▲ $2,125$2,125$50,000
2012$50,000-▲ $2,125$2,125$50,000
2011$50,101-▲ $2,125$2,226$50,000
2010$50,470-▲ $2,131$2,500$50,101
Compensation and Service Providers

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Mbm EntertainmentEntertainment Services1619 BROADWAY 10TH FLOOR, New York, NY 10019$374,058
Revenue and Support

Revenue Composition

Contributions and Grants
$1,406,884
Program Service Revenue
$0
Investment Income
$1,348
Other Revenue
$-1,344,403
All Other Contributions
$49,511
Change in Net Assets
$-210,579

Audited Revenue Reconciliation

Revenue per Audited Statements
$63,829
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-4,329
Total Revenue per Audited Statements
$59,500
Total Revenue per Form 990
$63,829
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$198,200
Other Expenses$76,208
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$119,500--$119,500
Grants to Domestic Individuals$78,700--$78,700
Fees for Services Accounting-$22,373-$22,373
Insurance-$20,719-$20,719
Depreciation Depletion-$4,879-$4,879
Office Expenses-$3,000-$3,000
Other Expenses$142$1,759-$142
Total Functional Expenses$201,804$72,604$0$274,408

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$274,408
Total Expenses per Audited Statements$274,408
Total Expenses per Form 990$274,408
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Nyutisch School of the ArtsNew York, NY-Scholarships$21,000
Brooklyn CollegeBrooklyn, NY-Scholarships$15,000
Columbia UniversityNew York, NY-Scholarships$15,000
Fordham UniversityNew York, NY-Scholarships$15,000
Hunter College FoundationNew York, NY-Scholarships$15,000
Pace UniversityNew York, NY-Scholarships$15,000
Wagner CollegeStaten Island, NY-Scholarships$15,000
Syracuse UnversitySyracuse, NY-Scholarships$3,000
The City College FundNew York, NY-Scholarships$3,000
Purchase CollegePurchase, NY-Scholarships$2,500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$3,072,292
Fundraising Gross Income$1,727,889
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$1,469,222$1,240,389$638,934$601,455
Lincoln Awards$1,546,200$487,500$991,993$-504,493
Total Events$3,085,262$1,727,889$3,072,532$-1,344,643
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

A copy of the 990 is sent to all board members for review before filing the form.

Form 990, Part VI, Section C, Line 18

The 990 return is available upon request

Form 990, Part VI, Section C, Line 19

The documents will be mailed upon request.

Filing and Contact Details

Filer

Filer Name
Friars National Association Foundation Inc
EIN
13-2906649
Phone
2127517272
Address
57 EAST 55TH STREET, NEW YORK, NY 10022

Signing Officer

Name
Martin J Gross
Title
Treasurer
Phone
2127517272
Signed
2016-02-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Martin J Gross
Formed
1977
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
15

Preparer

Firm
SOBEL AND CO LLC CPA'S
Address
293 EISENHOWER PARKWAY, LIVINGSTON, NJ 07039-1711
Preparer
Bridget Hartnett
Phone
9739949494
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The oversight process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The foundation is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code and, accordingly, is not liable for federal and state income taxes. The foundation follows standards that provide clarification on accounting for uncertainty in income taxes recognized in the foundation's financial statements. The guidance prescribes a recognition threshold and measurement attribute for the recognition and measurement of a tax position taken, or expected to be taken, in a tax return, and also provides guidance on derecognition, classification, interest and penalties, disclosure and transition. The foundation's policy is to recognize interest and penalties on unrecognized tax benefits in income tax expense. No interest and penalties were recorded during the years ended june 30, 2015 and 2014. The tax years subject to audit by federal and state jurisdictions are the years ended june 30, 2012, and forward. At june 30, 2015 and 2014, there are no significant income tax uncertainties.

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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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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt019874
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0138822
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0333000
IRS990/PrincipalOfficerNm0MARTIN J GROSS
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt047198
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt08685
IRS990/PYInvestmentIncomeAmt03183
IRS990/PYOtherExpensesAmt0310501
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-268805
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0319186
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt050381
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-210579
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0387871
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01406884
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt047198
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0676216
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0709374
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0233750
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03073422
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IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/PublicSupportPY170Pct00.92720
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
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IRS990ScheduleA/TotalSupportAmt03222544
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt02131
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt02500
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0274408
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt029278
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt029278
IRS990ScheduleD/RevenueNotReportedAmt0-4329
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt063829
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, IS NOT LIABLE FOR FEDERAL AND STATE INCOME TAXES. THE FOUNDATION FOLLOWS STANDARDS THAT PROVIDE CLARIFICATION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE FOUNDATION'S FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN, OR EXPECTED TO BE TAKEN, IN A TAX RETURN, AND ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE FOUNDATION'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE. NO INTEREST AND PENALTIES WERE RECORDED DURING THE YEARS ENDED JUNE 30, 2015 AND 2014. THE TAX YEARS SUBJECT TO AUDIT BY FEDERAL AND STATE JURISDICTIONS ARE THE YEARS ENDED JUNE 30, 2012, AND FORWARD. AT JUNE 30, 2015 AND 2014, THERE ARE NO SIGNIFICANT INCOME TAX UNCERTAINTIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GALA
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt01727889
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IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt01
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IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0CASH SCHOLARSHIPS
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IRS990ScheduleI/RecipientTable/CashGrantAmt615000
IRS990ScheduleI/RecipientTable/CashGrantAmt73000
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IRS990ScheduleI/RecipientTable/CashGrantAmt93000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SCHOLARSHIPS
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7SCHOLARSHIPS

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