Civic Intelligence

Arnold I & Bette Sobel Foundation

EIN 31-1528640 • 501(c)3 • Chicago, IL

Profile

The Foundation was organized to foster, promote, support, develop, maintain a broad charitable, educational & religious purposes or functions, as authorized by the charter of the Jewish Federation of Metropolitan Chicago and the by-laws of the Foundation.

30 South Wells Street No 4049Chicago, IL 60606

n/A

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2015

Liabilities / Revenue

62nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

97th percentile

92%

Higher net margin than 97% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

100th percentile

$465,685

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 1832.3% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

10th percentile

-100%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

43rd percentile

-8.7%

Faster revenue growth than 43% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Assets

Down

$0

Down $1,314,154 (-100%) from 2014

Liabilities

Down

$0

Down $3,185 (-100%) from 2014

Net Assets

Down

$0

Down $1,310,969 (-100%) from 2014

Revenue

Down

$25,416

Down $2,423 (-8.7%) from 2014

Expenses

Down

$2,108

Down $159,211 (-99%) from 2014

Net Income

Up

$23,308

Up $156,788 (+117%) from 2014

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2012: $1,198,512Liabilities 2012: $2,950Net Assets 2012: $1,195,5622012Assets 2013: $1,276,270Liabilities 2013: $3,035Net Assets 2013: $1,273,2352013Assets 2014: $1,314,154Liabilities 2014: $3,185Net Assets 2014: $1,310,9692014Assets 2015: $0Liabilities 2015: $0Net Assets 2015: $02015

Highlighted filing

2015

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$200K$100K$0-$100K-$200KExpenses 2012: $102,6442012Expenses 2013: $34,0802013Revenue 2014: $27,839Expenses 2014: $161,319Net Income 2014: -$133,4802014Revenue 2015: $25,416Expenses 2015: $2,108Net Income 2015: $23,3082015

Highlighted filing

2015

Revenue$25,416
Expenses$2,108
Net Income$23,308

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 4, 2016
Return Version
2014v6.0
Gross Receipts
$25,416
Mission and Program Overview

Mission

The Foundation was organized to foster, promote, support, develop, maintain a broad charitable, educational & religious purposes or functions, as authorized by the charter of the Jewish Federation of Metropolitan Chicago and the by-laws of the Foundation.

The Foundation was organized to foster, promote, support, develop, maintain a broad charitable, educational or religious purpose or functions as authorized by the charter of the Jewish Federation of Metropolitan Chicago and the by-laws of the foundation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,313,132$0▼ $1,313,132
Rtn Earn Endowment Incm Other Fnds$1,310,969$0▼ $1,310,969
Savings and Temporary Cash Investments$1,022$0▼ $1,022
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,314,154$0▼ $1,314,154
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$3,175$0▼ $3,175
Other Liabilities$10$0▼ $10
Total Liabilities$3,185$0▼ $3,185
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,310,969$0▼ $1,310,969
Total Liabilities and Net Assets / Fund Balance$1,314,154$0▼ $1,314,154
Compensation and Service Providers

Board Members and Trustees

NameTitle
Charles H GoodmanPresident
James D SobelVice President
James A StarDirector
James S CrownDirector
James PinkstonAssistant Treasurer
David S RosenSecretary
Michael A SobelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$24,578
Other Revenue
$838
Change in Net Assets
$23,308
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,108
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$1,932-$1,932
All Other Expenses-$176-$176
Total Functional Expenses$0$2,108$0$2,108
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

James S. Crown and James A. Star have a family relationship.

Form 990, Part VI, Section A, line 2

James D. Sobel and Michael A. Sobel have a family relationship.

Form 990, Part VI, Section A, line 6

The by-laws stipulate that members of the Foundation are divided into two classes: the donor member and the publicly supported organization member, which is the Jewish Federation of Metropolitan Chicago.

Form 990, Part VI, Section A, line 7A

The board of directors consists of 6 total persons, 2 of whom are elected by the donor member and 4 of whom are elected by the publicly supported organization member pursuant to its established procedures.

Form 990, Part VI, Section B, line 11

The voting members of the governing body reviewed the Form 990 prior to filing with the IRS.

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

A conflict of interest questionnaire is circulated to all Board Members on an annual basis. This process is managed by the Foundation's Secretary who ensures all questionnaires are completed. The complete questionnaires are reviewed and any conflicts are disclosed to the Board of Directors. If a Director does have a conflict or business relationship, he or she is required to abstain from any votes related to that matter.

Form 990, Part VI, Section C, line 19

Financial statements, conflict of interest policy and governing documents are available upon request for the same period of disclosure as set forth in section 6104(d).

Filing and Contact Details

Filer

Filer Name
Arnold I & Bette Sobel Foundation
EIN
31-1528640
Phone
3123574790
Address
30 South Wells Street No 4049, Chicago, IL 60606

Signing Officer

Name
David S Rosen
Title
Secretary
Phone
3123574790
Signed
2016-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles H Goodman
Formed
1997
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Rsm US Llp
Address
1 S WACKER DRIVE STE 800, CHICAGO, IL 60606
Preparer
Marek Rozowicz
Phone
3126343400
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Dissolution Transfers -1,299,420.

Financial Statement Notes

Part X, Line 2:

Arnold I. & Bette Sobel Foundation (the Foundation) is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable state law. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Foundation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. At June 30, 2015, there were no unrecognized tax benefits identified or recorded as liabilities. The Foundation files Form 990 in the U.S. federal jurisdiction and the State of Illinois. The Foundation is generally no longer subject to examination by the Internal Revenue Service for years before 2012.

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Arnold I. & Bette Sobel Foundation (the Foundation) is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable state law. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Foundation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. At June 30, 2015, there were no unrecognized tax benefits identified or recorded as liabilities. The Foundation files Form 990 in the U.S. federal jurisdiction and the State of Illinois. The Foundation is generally no longer subject to examination by the Internal Revenue Service for years before 2012.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0David S Rosen
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1James Pinkston
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Secretary
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1Assistant Treasurer
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0David Rosen: The Jewish Federation has an agreement with David Rosen which provides for annual payments of $25,000 per year beginning in 2018 and ending in 2028.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 4b
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IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0Jewish Federation of Metropolitan Chicago
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1Jewish United Fund of Metropolitan Chicago
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt2Jewish United Fund of Metropolitan Chicago
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt3Temple Beth-El of Northbrook
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt4Jewish National Fund - Chicago Region
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt5North Shore Congregation Israel
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt6The Josselyn Center NFP
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt7University of Chicago Medical Center
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt8Voices for Illinois Children
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt9Coast Guard Foundation Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt10Connecticut College
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt11Drake University
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt12Save Abandoned Babies Foundation
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02015-02-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12014-12-05
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22014-09-05
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt32014-10-20
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt42014-10-20
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt52014-09-05
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt62014-08-20
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt72014-12-05
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt82014-12-05
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt92014-10-05
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt102014-08-05
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt112014-08-05
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt11500
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt12500
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt8501(c)(3)
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt11501(c)(3)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt12501(c)(3)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0Cash
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1Cash
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt3Cash
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt4Cash
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt5Cash

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