Civic Intelligence

Hudson Valley National Foundation Inc

EIN 13-3082851 • 501(c)3 • Yonkers, NY

Profile

To apply its available funds to charitable educational, religious, scientific and cultural purposes by making contributions to other qualified charities.

21 Scarsdale RdYonkers, NY 10707

n/A

Siviq Scores

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

Liabilities / Assets

68th percentile

0.10x

Higher debt load relative to assets than 68% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

79th percentile

0.23x

Higher debt load relative to revenue than 79% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

10th percentile

-37%

Higher net margin than 10% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

100th percentile

$1,035,250

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 505.1% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

13th percentile

-21%

Faster asset growth than 13% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

42nd percentile

2.2%

Faster revenue growth than 42% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Assets

Down

$470,453

Down $123,198 (-21%) from 2013

Liabilities

Down

$47,300

Down $37,567 (-44%) from 2013

Net Assets

Down

$423,153

Down $85,631 (-17%) from 2013

Revenue

Up

$204,947

Up $4,318 (+2.2%) from 2013

Expenses

Up

$280,997

Up $34,235 (+14%) from 2013

Net Income

Down

-$76,050

Down $29,917 (-65%) from 2013

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0Assets 2010: $828,170Liabilities 2010: $145,850Net Assets 2010: $682,3202010Assets 2011: $682,397Liabilities 2011: $100,900Net Assets 2011: $581,4972011Assets 2012: $624,897Liabilities 2012: $116,500Net Assets 2012: $508,3972012Assets 2013: $593,651Liabilities 2013: $84,867Net Assets 2013: $508,7842013Assets 2014: $470,453Liabilities 2014: $47,300Net Assets 2014: $423,1532014

Highlighted filing

2014

Assets$470,453
Liabilities$47,300
Net Assets$423,153

Operations Trend

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

$400K$200K$0-$200KExpenses 2010: $370,1322010Expenses 2011: $305,5402011Revenue 2012: $229,835Expenses 2012: $283,079Net Income 2012: -$53,2442012Revenue 2013: $200,629Expenses 2013: $246,762Net Income 2013: -$46,1332013Revenue 2014: $204,947Expenses 2014: $280,997Net Income 2014: -$76,0502014

Highlighted filing

2014

Revenue$204,947
Expenses$280,997
Net Income-$76,050

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Sep 16, 2015
Return Version
2014v5.0
Gross Receipts
$513,068
Mission and Program Overview

Mission

To apply its available funds to charitable educational, religious, scientific and cultural purposes by making contributions to other qualified charities.

To provide support to charitable educational, religious, scientific and cultural organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$259,202$223,886▼ $35,316
Savings and Temporary Cash Investments$238,023$172,608▼ $65,415
Investments Other Securities$77,249$63,340▼ $13,909
Accounts Receivable$9,252$8,000▼ $1,252
Prepaid Expenses and Deferred Charges$9,925$2,619▼ $7,306
Total Assets$593,651$470,453▼ $123,198
Liabilities
Grants Payable$73,367$24,300▼ $49,067
Accounts Payable and Accrued Expenses$11,500$23,000▲ $11,500
Total Liabilities$84,867$47,300▼ $37,567
Net Assets / Fund Balance
Temporarily Rstr Net Assets$467,387$381,317▼ $86,070
Unrestricted Net Assets$41,397$41,836▲ $439
Total Net Assets Fund Balance$508,784$423,153▼ $85,631
Total Liabilities and Net Assets / Fund Balance$593,651$470,453▼ $123,198

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$63,340--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Gregory F HolcombeDirectorPT$130,720$130,720

Board Members and Trustees

NameTitle
James J LandyChairman
Stephen R BrownPresident
Colleen Griffin WagnerVice President/director
Angelo R MartinelliDirector
Christopher SantomeroDirector
Craig S ThompsonDirector
James P BloseDirector
John a PrattDirector
Vito R VerniDirector
Andrew ReinhartFormer Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$72,485
Program Service Revenue
$0
Investment Income
$37,766
Other Revenue
$94,696
All Other Contributions
$72,485
Change in Net Assets
$-76,050

Audited Revenue Reconciliation

Revenue per Audited Statements
$204,947
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$147,533
Total Revenue per Audited Statements
$352,480
Total Revenue per Form 990
$204,947
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$260,875
Other Expenses$20,122
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$260,875--$260,875
Fees for Services Accounting-$11,500-$11,500
Fees for Service Investment Mgmnt Fees-$2,738-$2,738
Other Expenses-$125-$125
Total Functional Expenses$260,875$20,122$0$280,997

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$438,111
Expenses per Audited Statements$280,997
Total Expenses per Form 990$280,997
Expenses Not Reported on Form 990$157,114
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Benedictine Military SchoolSavannah, GA501 (c) (3)General Purpose Charitable Grant$50,000
Fordham Preparatory SchoolBronx, NY501 (c) (3)Student Scholarship Funding$35,760
St Johns Riverside HospitalYonkers, NY501 (c) (3)General Purpose Charitable Grant$22,500
Immaculate Conception ChurchTuckahoe, NY501 (c) (3)General Purpose Charitable Grant$10,000
Elizabeth Seton Pediatric CenterYonkers, NY501 (c) (3)General Purpose Charitable Grant$5,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$251,810
Fundraising Direct Expenses$157,114
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outings$181,020$181,020$2,450$178,570
Total Events$181,020$181,020$157,114$23,906
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
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
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 draft copy of the form 990 is presented to the board of directors by the treasurer and outside cpa firm. It is reviewed and approved by the board members at a meeting held prior to the filing of the 990.

Form 990, Part VI, Section C, Line 19

The organization complies with all federal and state disclosure requirements with respect to its public disclosure documents available at the organization's office.

Filing and Contact Details

Filer

Filer Name
Hudson Valley National Foundation Inc
EIN
13-3082851
Phone
9149616100
Address
21 SCARSDALE RD, YONKERS, NY 10707

Signing Officer

Name
Benjamin Hirsh
Title
CAO/controller
Phone
9149616100
Signed
2015-09-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Benjamin Hirsh
Formed
1981
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
25

Preparer

Firm
D'ARCANGELO & CO LLP
Address
800 WESTCHESTER AVE SUITE N-400, RYE BROOK, NY 10573-1301
Preparer
Anthony Pennella
Phone
9146944600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 2C:

The board of directors appoints a subcommitte of board members to oversee the audit process of its financial statements and selection of an independent accountant.

Financial Statement Notes

PART X, LINE 2:

The foundation evaluates the effect of uncertain tax positions in accordance with the provisions of gaap. The board of directors believes that the foundation is designed and is currently being operated in compliance with the tax-exempt provisions of the internal revenue code. The foundation discloses material adjustments resulting from tax examinations, if any, and reports interest and penalties resulting from such adjustments as interest expense or other expense. There were no tax examinations or adjustments relating therefrom. Tax returns for the years 2011 through 2014 are subject to audit by the applicable taxing jurisdictions.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Direct special events expenses 157,114.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct special events expenses 157,114.

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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt013925
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt014956
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt019057
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt066492
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0251810
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0290283
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0295430
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0302125
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0305120
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01444768
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt07805
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt010749
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt013925
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt014956
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt019057
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt066492
IRS990ScheduleA/InvestmentIncomeCYPct00.03810
IRS990ScheduleA/InvestmentIncomePYPct00.04800
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.82300
IRS990ScheduleA/PublicSupportPY509Pct00.77970
IRS990ScheduleA/PublicSupportTotal509Amt01435123
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt031450
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt051654
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt028300
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt067454
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt063253
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0242111
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0324295
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0310538
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0368205
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0343039
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0331157
IRS990ScheduleA/Total509Grp/TotalAmt01677234
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0332100
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0321287
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0382130
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0357995
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0350214
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01743726
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt0157114
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0280997
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-9581
IRS990ScheduleD/OtherExpensesIncludedAmt0157114
IRS990ScheduleD/OtherRevenueAmt0157114
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt063340
IRS990ScheduleD/OtherSecuritiesGrp/Desc0HUDSON VALLEY HOLDING CORP. COMMON STOCK
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueNotReportedAmt0147533
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0204947
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION EVALUATES THE EFFECT OF UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH THE PROVISIONS OF GAAP. THE BOARD OF DIRECTORS BELIEVES THAT THE FOUNDATION IS DESIGNED AND IS CURRENTLY BEING OPERATED IN COMPLIANCE WITH THE TAX-EXEMPT PROVISIONS OF THE INTERNAL REVENUE CODE. THE FOUNDATION DISCLOSES MATERIAL ADJUSTMENTS RESULTING FROM TAX EXAMINATIONS, IF ANY, AND REPORTS INTEREST AND PENALTIES RESULTING FROM SUCH ADJUSTMENTS AS INTEREST EXPENSE OR OTHER EXPENSE. THERE WERE NO TAX EXAMINATIONS OR ADJUSTMENTS RELATING THEREFROM. TAX RETURNS FOR THE YEARS 2011 THROUGH 2014 ARE SUBJECT TO AUDIT BY THE APPLICABLE TAXING JURISDICTIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DIRECT SPECIAL EVENTS EXPENSES 157,114.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2DIRECT SPECIAL EVENTS EXPENSES 157,114.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt063340
IRS990ScheduleD/TotalExpensesPerForm990Amt0280997
IRS990ScheduleD/TotalRevenuePerForm990Amt0204947
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0352480
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0438111
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesEvent1Amt020000
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesTotalEventsAmt020000
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0157114
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF OUTINGS
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0181020
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0181020
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0181020
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0181020
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt023906
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt09275
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt011725
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt02450
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt01
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt0125389
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt0125389
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt035760
IRS990ScheduleI/RecipientTable/CashGrantAmt122500
IRS990ScheduleI/RecipientTable/CashGrantAmt210000
IRS990ScheduleI/RecipientTable/CashGrantAmt35000
IRS990ScheduleI/RecipientTable/CashGrantAmt450000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501 (C) (3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501 (C) (3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501 (C) (3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501 (C) (3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501 (C) (3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0STUDENT SCHOLARSHIP FUNDING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1GENERAL PURPOSE CHARITABLE GRANT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2GENERAL PURPOSE CHARITABLE GRANT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3GENERAL PURPOSE CHARITABLE GRANT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4GENERAL PURPOSE CHARITABLE GRANT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0FORDHAM PREPARATORY SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1ST JOHNS RIVERSIDE HOSPITAL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2IMMACULATE CONCEPTION CHURCH
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3ELIZABETH SETON PEDIATRIC CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4BENEDICTINE MILITARY SCHOOL
IRS990ScheduleI/RecipientTable/RecipientEIN0132660346
IRS990ScheduleI/RecipientTable/RecipientEIN1131740126
IRS990ScheduleI/RecipientTable/RecipientEIN2131740164
IRS990ScheduleI/RecipientTable/RecipientEIN3133398657
IRS990ScheduleI/RecipientTable/RecipientEIN4580566132
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0E FORDHAM RD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1967 N BROADWAY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt253 WINTER HILL ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3300 CORPORATE BLVD SOUTH
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt46502 SEAWRIGHT DRIVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BRONX
IRS990ScheduleI/RecipientTable/USAddress/CityNm1YONKERS
IRS990ScheduleI/RecipientTable/USAddress/CityNm2TUCKAHOE
IRS990ScheduleI/RecipientTable/USAddress/CityNm3YONKERS
IRS990ScheduleI/RecipientTable/USAddress/CityNm4SAVANNAH
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3NY

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