Civic Intelligence

Hebrew Immigrant Aid Society Endowment Foundation

990 • Fiscal year 2014 • EIN 36-4310817

Jul 01, 2013 to Jun 30, 2014 • Filed on May 07, 2015

30 South Wells No 404960606

(312) 357-4790

Siviq Scores

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

Liabilities / Assets

6th percentile

0.00x

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

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

6th percentile

0.00x

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

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

90th percentile

45%

Higher net margin than 90% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

83rd percentile

19%

Faster asset growth than 83% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

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

Source year 2014

Assets

Up

$6,978,332

Up $3,377,349 (+94%) from 2012

Net Assets

Up

$6,978,332

Up $3,377,349 (+94%) from 2012

Liabilities

Flat

$0

Flat from 2012

Revenue

$680,853

No earlier filing loaded for comparison.

Expenses

Up

$373,029

Up $116,456 (+45%) from 2012

Net Income

$307,824

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.

$8.0M$6.0M$4.0M$2.0M$0Assets 2012: $3,600,983Liabilities 2012: $0Net Assets 2012: $3,600,9832012Assets 2014: $6,978,332Liabilities 2014: $0Net Assets 2014: $6,978,3322014Assets 2015: $6,652,541Liabilities 2015: $0Net Assets 2015: $6,652,5412015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2014

Assets$6,978,332
Liabilities$0
Net Assets$6,978,332

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2012: $256,5732012Revenue 2014: $680,853Expenses 2014: $373,029Net Income 2014: $307,8242014Revenue 2015: $344,759Expenses 2015: $413,113Net Income 2015: -$68,3542015Revenue 2016: $122,302Expenses 2016: $416,227Net Income 2016: -$293,9252016

Highlighted filing

2014

Revenue$680,853
Expenses$373,029
Net Income$307,824
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 7, 2015
Return Version
2013v4.0
Gross Receipts
$987,196
Mission and Program Overview

Mission

The Foundation was organized exclusively for the benefit of and to carry out the purposes of the Hebrew Immigrant Aid Society of Chicago, a not-for-profit organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,524,934$6,712,660▲ $1,187,726
Pledges and Grants Receivable$176,893$134,721▼ $42,172
Total Assets$5,862,907$6,978,332▲ $1,115,425
Other Assets Total$161,080$130,951▼ $30,129
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$5,528,476$6,690,528▲ $1,162,052
Temporarily Rstr Net Assets$234,431$187,804▼ $46,627
Permanently Rstr Net Assets$100,000$100,000→ $0
Total Net Assets Fund Balance$5,862,907$6,978,332▲ $1,115,425
Total Liabilities and Net Assets / Fund Balance$5,862,907$6,978,332▲ $1,115,425

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$6,712,660--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$5,862,907$559,043▲ $929,411-$6,978,332
2012$3,600,983$2,157,921▲ $375,781-$5,862,907
2011$3,543,923$302,529▲ $11,104-$3,600,983
2010$3,171,657$123,870▲ $497,045-$3,543,923
2009$3,070,897$29,350▲ $328,094-$3,171,657
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jeffrey KriezelmanPresident
Charlotte NewbergerVice President
Ilene NovackDirector
Jodi DoaneDirector
Randy FelsenthalDirector
David S RosenAssistant Secretary
Deborah SilvermanAssistant Secretary
James A PinkstonAssistant Treasurer
Michael TarnoffAssistant Treasurer
Peter ChiswickAssistant Treasurer
Ralph RuebnerSecretary
David RubovitsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$559,043
Program Service Revenue
$0
Investment Income
$121,337
Other Revenue
$473
All Other Contributions
$559,043
Change in Net Assets
$307,824

Audited Revenue Reconciliation

Revenue per Audited Statements
$680,853
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$807,601
Total Revenue per Audited Statements
$1,488,454
Total Revenue per Form 990
$680,853
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$326,762
Other Expenses$46,267
Total Fundraising Expense$14,853
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$326,762--$326,762
Other Expenses-$31,414$14,853$46,267
Total Functional Expenses$326,762$31,414$14,853$373,029

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$373,029
Total Expenses per Audited Statements$373,029
Total Expenses per Form 990$373,029
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
36-2167094-501(c)(3)General Operating Support$326,762
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
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

The Members of the Foundation are the Hebrew Immigrant Aid Society of Chicago (The Agency) and the Jewish Federation of Metropolitan Chicago (Federation).

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

The Members shall appoint the Board of Directors. The Agency shall be entitled to appoint four of such directors at least one of whom must be the current President or any past President of the Agency, and the Federation shall be entitled to appoint three of such directors.

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

An annual meeting of Members shall be held each year on a date determined annually by the Board of Directors. At each such annual meeting the Members shall appoint a Board of Directors as provided in the by-laws and transact such other business as may come before the meeting.

Form 990, Part VI, Section B, line 11

The Controller of a related entity of the Jewish Federation of Metropolitan Chicago reviewed the Form 990 prior to filing. A copy of the Form 990 was provided to the Board of Directors and Officers of the organization prior to filing.

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 completed 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

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

Filing and Contact Details

Filer

EIN
36-4310817
Phone
3123574790

Signing Officer

Name
James A Pinkston
Title
Assistant Treasurer
Phone
3123574790
Signed
2015-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Kriezelman
Formed
1999
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
12

Preparer

Preparer
Zack Fortsch
Phone
3126343400
Supplemental Narrative

Financial Statement Notes

Part V, Line 4:

Endowment funds are maintained to benefit the Hebrew Immigrant Aid Society as it guides and supports Jewish immigrants and others through the immigration process to gain citizenship in the United States.

Part X, Line 2:

The accounting standard 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. Examples of tax positions include the taxexempt status of the Foundation and various positions related to the potential sources of unrelated business taxable income (UBTI). 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. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. At June 30, 2014, there were no unrecognized tax benefits identified or recorded as liabilities. The Foundation files forms 990 in the U.S. federal jurisdiction and the State of Illinois. With few exceptions, the Foundation is no longer subject to examination by the Internal Revenue Service for years before 2011.

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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt06712660
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Jewish Federation of Metropolitan Chicago Pooled Investment Fund
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.01430
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0680853
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Endowment funds are maintained to benefit the Hebrew Immigrant Aid Society as it guides and supports Jewish immigrants and others through the immigration process to gain citizenship in the United States.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The accounting standard 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. Examples of tax positions include the taxexempt status of the Foundation and various positions related to the potential sources of unrelated business taxable income (UBTI). 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. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. At June 30, 2014, there were no unrecognized tax benefits identified or recorded as liabilities. The Foundation files forms 990 in the U.S. federal jurisdiction and the State of Illinois. With few exceptions, the Foundation is no longer subject to examination by the Internal Revenue Service for years before 2011.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.02690
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IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0326762
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0General Operating Support
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10Hebrew Immigrant Aid Society of Chicago
IRS990ScheduleI/RecipientTable/RecipientEIN0362167094
IRS990ScheduleI/RecipientTable/USAddress/AddressLine10216 W Jackson Suite 700
IRS990ScheduleI/RecipientTable/USAddress/City0Chicago
IRS990ScheduleI/RecipientTable/USAddress/State0IL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode060606
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0All grants made by the Foundation can only be made to or for the benefit of the Hebrew Immigrant Aid Society of Chicago.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Members of the Foundation are the Hebrew Immigrant Aid Society of Chicago (The Agency) and the Jewish Federation of Metropolitan Chicago (Federation).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Members shall appoint the Board of Directors. The Agency shall be entitled to appoint four of such directors at least one of whom must be the current President or any past President of the Agency, and the Federation shall be entitled to appoint three of such directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2An annual meeting of Members shall be held each year on a date determined annually by the Board of Directors. At each such annual meeting the Members shall appoint a Board of Directors as provided in the by-laws and transact such other business as may come before the meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Controller of a related entity of the Jewish Federation of Metropolitan Chicago reviewed the Form 990 prior to filing. A copy of the Form 990 was provided to the Board of Directors and Officers of the organization prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A 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 completed 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The governing documents, conflict of interest policy and financial statements are available upon request for the same period of disclosure as set forth in IRC Section 6104(d).
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10Hebrew Immigrant Aid Society of Chicago
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0362167094
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Social Welfare Institution
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine10216 W Jackson Suite 700
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0Chicago
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