Civic Intelligence

The Foundation for the Jewish Feder Ation of Reading

990 • Fiscal year 2023 • EIN 23-2198785

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 06, 2024

1100 Berkshire Blvd 125Wyomissing, PA 19610

(610) 921-0624

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

23rd percentile

0.03x

Higher debt load relative to assets than 23% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2023

Net Margin

100th percentile

1315%

Higher net margin than 100% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

29th percentile

$125,000

Higher top officer pay than 29% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2020 to 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Assets

Up

$10,861,184

Up $10,861,184 from 2020

Net Assets

Up

$10,547,614

Up $10,547,614 from 2020

Liabilities

Up

$313,570

Up $313,570 from 2020

Revenue

-$82,005

No earlier filing loaded for comparison.

Expenses

$996,762

No earlier filing loaded for comparison.

Net Income

-$1,078,767

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2010: $0Net Assets 2010: $02010Assets 2011: $0Net Assets 2011: $02011Assets 2012: $0Net Assets 2012: $02012Assets 2013: $0Liabilities 2013: $0Net Assets 2013: $02013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014Assets 2015: $0Liabilities 2015: $0Net Assets 2015: $02015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018Assets 2019: $1Liabilities 2019: $02019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2023: $10,861,184Liabilities 2023: $313,570Net Assets 2023: $10,547,6142023Assets 2024: $11,393,392Liabilities 2024: $40,793Net Assets 2024: $11,352,5992024

Highlighted filing

2023

Assets$10,861,184
Liabilities$313,570
Net Assets$10,547,614

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$0-$1.0M-$2.0MRevenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2023: -$82,005Expenses 2023: $996,762Net Income 2023: -$1,078,7672023Revenue 2024: $292,095Expenses 2024: $766,346Net Income 2024: -$474,2512024

Highlighted filing

2023

Revenue-$82,005
Expenses$996,762
Net Income-$1,078,767
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 6, 2024
Return Version
2023v5.1
Gross Receipts
$3,759,563
Mission and Program Overview

Mission

To support the jewish federation of reading, pa, inc.

To provide financial support to the jewish federation of reading and to support the religious, educational, and charitable purposes and activities of the federation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$10,855,044-
Accounts Receivable-$5,640-
Cash and Non-Interest-Bearing Accounts-$500-
Total Assets$0$10,861,184▲ $10,861,184
Liabilities
Accounts Payable and Accrued Expenses-$313,570-
Total Liabilities$0$313,570▲ $313,570
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$9,962,836-
Net Assets With Donor Restrictions-$584,778-
Total Net Assets Fund Balance$0$10,547,614▲ $10,547,614
Total Liabilities and Net Assets / Fund Balance$0$10,861,184▲ $10,861,184

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023-$7,442,040▲ $426,336$3,733$7,864,643
Compensation and Service Providers

Employees

NameTitleOtherTotal
Brian ChartockCEO$125,000$125,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$30,084
Program Service Revenue
$0
Investment Income
$-112,089
Other Revenue
$0
All Other Contributions
$30,084
Change in Net Assets
$-1,078,767
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$630,942
Grants and Similar Amounts Paid$365,820
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$510,148--$510,148
Grants to Domestic Orgs$365,820--$365,820
Fees for Service Investment Mgmnt Fees-$74,028-$74,028
Fees for Services Management$4,970$34,078-$39,048
Advertising$4,000--$4,000
Fees for Services Accounting-$3,000-$3,000
Fees for Services Legal-$718-$718
Total Functional Expenses$884,938$111,824$0$996,762
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Jewish Federations of North AmericaNew York, NY501 (c) (3)Ukraine Emergency Campaign$313,570
United Way of Berks CountyReading, PA501 (c) (3)Support the Community Surrounding the Organization$20,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
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 A, Line 4

The foundation for the jeweish federation of reading began reorgaization during 2022 and changed its name from reading jewish community center foundation which had been inactive. During 2022 the foundation established a new set of bylaws and completed the organizations name change

Form 990, Part VI, Section B, Line 11B

The form 990 is submitted to the board for approval before submitting to the internal revenue service.

Form 990, Part VI, Section B, Line 12C

Each year the conflict of interest policy is distributed to the members of the board of directors. They must complete, sign and return it to the federation at the september board meeting.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial statements are available to the public upon request. The form 990 is available upon request at the organization.

Filing and Contact Details

Filer

Filer Name
The Foundation for the Jewish Federation
EIN
23-2198785
Phone
6109210624
Address
1100 BERKSHIRE BLVD 125, WYOMISSING, PA 19610

Signing Officer

Name
Michael Fromm
Title
Chair
Phone
6109210624
Signed
2024-09-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Fromm
Formed
1981
Legal Domicile
Pa
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
60

Preparer

Firm
Herbein Company Inc
Address
2763 CENTURY BOULEVARD, READING, PA 19610
Preparer
Marybeth C Olree CPA
Phone
6103781175
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

The foundation for the jewish federation of reading began reorgaization during 2022 and changed its name from reading jewish community center foundation which had been inactive. During 2023 the jewish federation of reading, pa, inc. Transferred $10,819,647 of assets to the foundation for the jeweish federation of reading and the foundation for the jewish federation of reading began program services again in 2023.

FORM 990, PART XI, LINE 9:

Transfer of net assets from related organization 10,819,647.

FORM 990, PART XII, LINE 2C:

The foundation's board of directors approves the selection of the independent accountant. The board also reviews the prepared annaul financial statements and accepts them via board approval.

Financial Statement Notes

PART V, LINE 4:

The endowment consists of several individual funds established for a variety of purposes and includes donor restricted funds and board designated funds. Endowment fund income is expendable to support any programs of the foundation's supported organization unless speciffically restricted by donors. During 2023 the jewish federation of reading, pa, inc. Transfered $7,442,040 of endowment funds to the foundation.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FOUNDATION ADDED THE JEWISH FEDERATION OF READING, PA, INC. (EIN 23-1728784) AS A SUPPORTED ORGANIZATION DURING 2023. THE FOUNDATION WAS PREVIOUSLY INACTIVE AND REORGANIZED WITH A TRANSFER OF ASSETS FROM THE JEWISH FEDERATION OF READING, PA, INC. RECEIVED IN 2023. THE SUPPORTING ORGANIZATION WAS ADDED WITH THE BOARD APPROVAL OF THE REVISED BYLAWS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ENDOWMENT CONSISTS OF SEVERAL INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES AND INCLUDES DONOR RESTRICTED FUNDS AND BOARD DESIGNATED FUNDS. ENDOWMENT FUND INCOME IS EXPENDABLE TO SUPPORT ANY PROGRAMS OF THE FOUNDATION'S SUPPORTED ORGANIZATION UNLESS SPECIFFICALLY RESTRICTED BY DONORS. DURING 2023 THE JEWISH FEDERATION OF READING, PA, INC. TRANSFERED $7,442,040 OF ENDOWMENT FUNDS TO THE FOUNDATION.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0UKRAINE EMERGENCY CAMPAIGN
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SUPPORT THE COMMUNITY SURROUNDING THE ORGANIZATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0JEWISH FEDERATIONS OF NORTH AMERICA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1UNITED WAY OF BERKS COUNTY
IRS990ScheduleI/RecipientTable/RecipientEIN0131624240
IRS990ScheduleI/RecipientTable/RecipientEIN1231655375
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt025 BROADWAY 17TH FLOOR
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt125 NORTH 2ND STREET SUITE 101
IRS990ScheduleI/RecipientTable/USAddress/CityNm0NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/CityNm1READING
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1PA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd010004
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd119601
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FUNDS ARE AWARDED BASED ON AN APPROVED ANNUAL SPENDING POLICY TO THE JEWISH FEDERATION OF READING AS THE SUPPORTED ORGANIZATION, BASED ON REQUESTS FOR AWARDS FROM DONOR ADVISED FUNDS, AND OTHER BOARD APPROVED USES. THE FOUNDATION'S BOARD AND MANAGEMENT OF THE JEWISH FEDERATION OF READING PROVIDE OVERSITE OF THE USE OF THE AWARDS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt02
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION FOR THE JEWISH FEDERATION OF READING BEGAN REORGAIZATION DURING 2022 AND CHANGED ITS NAME FROM READING JEWISH COMMUNITY CENTER FOUNDATION WHICH HAD BEEN INACTIVE. DURING 2023 THE JEWISH FEDERATION OF READING, PA, INC. TRANSFERRED $10,819,647 OF ASSETS TO THE FOUNDATION FOR THE JEWEISH FEDERATION OF READING AND THE FOUNDATION FOR THE JEWISH FEDERATION OF READING BEGAN PROGRAM SERVICES AGAIN IN 2023.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION FOR THE JEWEISH FEDERATION OF READING BEGAN REORGAIZATION DURING 2022 AND CHANGED ITS NAME FROM READING JEWISH COMMUNITY CENTER FOUNDATION WHICH HAD BEEN INACTIVE. DURING 2022 THE FOUNDATION ESTABLISHED A NEW SET OF BYLAWS AND COMPLETED THE ORGANIZATIONS NAME CHANGE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS SUBMITTED TO THE BOARD FOR APPROVAL BEFORE SUBMITTING TO THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EACH YEAR THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO THE MEMBERS OF THE BOARD OF DIRECTORS. THEY MUST COMPLETE, SIGN AND RETURN IT TO THE FEDERATION AT THE SEPTEMBER BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FORM 990 IS AVAILABLE UPON REQUEST AT THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5TRANSFER OF NET ASSETS FROM RELATED ORGANIZATION 10,819,647.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE FOUNDATION'S BOARD OF DIRECTORS APPROVES THE SELECTION OF THE INDEPENDENT ACCOUNTANT. THE BOARD ALSO REVIEWS THE PREPARED ANNAUL FINANCIAL STATEMENTS AND ACCEPTS THEM VIA BOARD APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0JEWISH FEDERATION OF READING PA INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0231728784
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO SUPPORT THE JEWISH COMMUNITY IN READING/BERKS COUNTY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01100 BERKSHIRE BLVD SUITE 125
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WYOMISSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd019610
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt039048
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1510148
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt210819647
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2CASH AND FMV INVESTMENTS
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0JEWISH FEDERATION OF READING PA INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1JEWISH FEDERATION OF READING PA INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2JEWISH FEDERATION OF READING PA INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1R
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2S
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd01
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd01
IRS990/StatesWhereCopyOfReturnIsFldCd0PA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt010861184
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt010861184
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt030084
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0111824
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0884938
IRS990/TotalFunctionalExpensesGrp/TotalAmt0996762
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0313570
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0313570
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010547614
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0884938
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0239731
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-351820
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-82005
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt060
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010861184
IRS990/TotReportableCompRltdOrgAmt0125000
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01100 BERKSHIRE BLVD 125
IRS990/USAddress/CityNm0WYOMISSING
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019610
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL FROMM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum06109210624
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE FOUNDATION FOR THE JEWISH FEDERATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OF READING

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