Civic Intelligence

Slingshot Fund Inc.

990 • Fiscal year 2017 • EIN 47-1833392

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 12, 2018

25 BroadwayNew York, NY 10004

(646) 838-2148

Siviq Scores

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

Liabilities / Assets

91st percentile

0.10x

Higher debt load relative to assets than 91% of similar nonprofits.

2017 filings • NTEE T • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

89th percentile

0.09x

Higher debt load relative to revenue than 89% of similar nonprofits.

2017 filings • NTEE T • $500k-$1M nonprofits • Source year 2017

Net Margin

48th percentile

1.5%

Higher net margin than 48% of similar nonprofits.

2017 filings • NTEE T • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

98th percentile

$148,827

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 21.3% of source-year revenue.

2017 filings • NTEE T • $500k-$1M nonprofits • Source year 2017

Asset Growth

65th percentile

5.7%

Faster asset growth than 65% of similar nonprofits.

2017 filings • NTEE T • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

29th percentile

-11%

Faster revenue growth than 29% of similar nonprofits.

2017 filings • NTEE T • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Up

$625,453

Up $33,871 (+5.7%) from 2016

Net Assets

Up

$560,552

Up $10,656 (+1.9%) from 2016

Liabilities

Up

$64,901

Up $23,215 (+56%) from 2016

Revenue

Down

$699,560

Down $87,027 (-11%) from 2016

Expenses

Up

$688,904

Up $68,549 (+11%) from 2016

Net Income

Down

$10,656

Down $155,576 (-94%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2014: $1Liabilities 2014: $02014Assets 2015: $373,004Liabilities 2015: $89,340Net Assets 2015: $283,6642015Assets 2016: $591,582Liabilities 2016: $41,686Net Assets 2016: $549,8962016Assets 2017: $625,453Liabilities 2017: $64,901Net Assets 2017: $560,5522017Assets 2018: $709,541Liabilities 2018: $51,863Net Assets 2018: $657,6782018Assets 2019: $782,994Liabilities 2019: $25,495Net Assets 2019: $757,4992019Assets 2020: $1,205,033Liabilities 2020: $126,095Net Assets 2020: $1,078,9382020Assets 2021: $826,626Liabilities 2021: $48,639Net Assets 2021: $777,9872021Assets 2022: $917,245Liabilities 2022: $57,568Net Assets 2022: $859,6772022Assets 2023: $704,346Liabilities 2023: $91,464Net Assets 2023: $612,8822023Assets 2024: $337,526Liabilities 2024: $56,924Net Assets 2024: $280,6022024

Highlighted filing

2017

Assets$625,453
Liabilities$64,901
Net Assets$560,552

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $625,975Expenses 2015: $342,044Net Income 2015: $283,9312015Revenue 2016: $786,587Expenses 2016: $620,355Net Income 2016: $166,2322016Revenue 2017: $699,560Expenses 2017: $688,904Net Income 2017: $10,6562017Revenue 2018: $776,117Expenses 2018: $678,991Net Income 2018: $97,1262018Revenue 2019: $684,882Expenses 2019: $585,061Net Income 2019: $99,8212019Revenue 2020: $952,680Expenses 2020: $631,241Net Income 2020: $321,4392020Revenue 2021: $460,872Expenses 2021: $761,823Net Income 2021: -$300,9512021Revenue 2022: $790,912Expenses 2022: $709,222Net Income 2022: $81,6902022Revenue 2023: $534,715Expenses 2023: $781,510Net Income 2023: -$246,7952023Revenue 2024: $470,772Expenses 2024: $802,747Net Income 2024: -$331,9752024

Highlighted filing

2017

Revenue$699,560
Expenses$688,904
Net Income$10,656
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 12, 2018
Return Version
2017v2.2
Gross Receipts
$699,560
Mission and Program Overview

Mission

Reimagining the future of Jewish philanthropy. We are building a bolder, brighter Jewish community by harnessing the ambition and passion of the next generation to empower them to be funders and leaders now. And we are fostering game-changing partnerships that lay the foundation for forward-thinking,sustainable organizations. Our vision and mission support an evolving community as we remain committed to strengthening Jewish life: Slingshot mobilizes young Jewish philanthropists as funders and active change agents, who, with partners, shape the Jewish community to be vibrant and continuously evolving.

Slingshot's mission is to inspire the Jewish community - and grow its capacity - to innovate, focusing on the role of philanthropy in supporting that innovation. We believe that continuous innovation in Jewish life fulfills the current and future needs of the Jewish community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$345,250$347,150▲ $1,900
Savings and Temporary Cash Investments$96,206$104,723▲ $8,517
Cash and Non-Interest-Bearing Accounts$80,131$80,415▲ $284
Intangible Assets$64,320$48,990▼ $15,330
Land, Buildings, and Equipment, Net$3,500$42,500▲ $39,000
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$591,582$625,453▲ $33,871
Other Assets Total$2,175$1,675▼ $500
Liabilities
Accounts Payable and Accrued Expenses$41,686$64,901▲ $23,215
Total Liabilities$41,686$64,901▲ $23,215
Net Assets / Fund Balance
Unrestricted Net Assets$173,436$380,614▲ $207,178
Temporarily Rstr Net Assets$376,460$179,938▼ $196,522
Total Net Assets Fund Balance$549,896$560,552▲ $10,656
Total Liabilities and Net Assets / Fund Balance$591,582$625,453▲ $33,871

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$40,000-$40,000
Other Land Buildings$2,500$2,500$5,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stefanie J RhodesExecutive DirectorFT$145,913$2,914$148,827

Board Members and Trustees

NameTitle
Sarah RuevenChair
Aaron BismanDirector
Coby LernerDirector
Daniel RuevenDirector
Debra HokinDirector
Erica BeskyDirector
Jonathan HorowitzDirector
Lana VolftsunDirector
Rebecca RichardsDirector
Daniel RaiffeExecutive Comm.
Bethany ShinerSecretary
Philip SilvermanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$666,131
Program Service Revenue
$33,246
Investment Income
$183
Other Revenue
$0
All Other Contributions
$666,131
Change in Net Assets
$10,656

Audited Revenue Reconciliation

Revenue per Audited Statements
$699,560
Total Revenue per Audited Statements
$699,560
Total Revenue per Form 990
$699,560
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$323,501
Salaries, Compensation, and Employee Benefits$264,503
Grants and Similar Amounts Paid$100,900
Total Fundraising Expense$74,328
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$82,176$22,217$44,434$148,827
Grants to Domestic Orgs$100,900--$100,900
Office Expenses$88,434$431$863$89,728
Other Salaries and Wages$72,111$4,242$8,483$84,836
Occupancy$23,302$3,996$7,992$35,290
Fees for Services Accounting-$35,091-$35,091
Travel$16,872$9,768$5,572$32,212
Payroll Taxes$11,267$1,932$3,864$17,063
Depreciation Depletion-$16,330-$16,330
Other Expenses$22$15,599-$15,621
Other Employee Benefits$7,361$1,262$2,524$11,147
Fees for Services Other-$5,587-$5,587
Pension Plan Contributions$1,736$298$596$2,630
Insurance-$2,252-$2,252
Total Functional Expenses$494,685$119,891$74,328$688,904

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$688,904
Total Expenses per Audited Statements$688,904
Total Expenses per Form 990$688,904
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
FootstepsNew York, NY-Fund charitable project$18,000
Mishkan ChicagoChicago, IL-Fund charitable project$16,000
Keshet- A Rainbow of HopeNorthbrook, IL-Fund charitable project$15,000
InterfaithFamilyBronx, NY-Fund charitable project$12,000
MatanNew York, NY-Fund charitable project$10,000
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
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
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
Yes
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
Yes

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Daniel Raiffe and Jonathan Raiffe are brothers.

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

Office services and accounting services were provided by Chasbro Investments, Inc.

Form 990, Part VI, Line 11B: Form 990 Review Process

Management reviewed a copy of the draft 990 with the tax preparer which was subsequently submitted to the board prior to filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The organization has a board approved conflicts of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Each year, the executive committee reviews comparable salaries based on a recognized study and reviews the performance of the executive director to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on. The minutes of the board of directors reflect the nature of this process.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Slingshot Fund Inc
EIN
47-1833392
Phone
6468382148
Address
25 Broadway, New York, NY 10004

Signing Officer

Name
Stefanie J Rhodes
Title
Executive Director
Signed
2018-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stefanie J Rhodes
Formed
2014
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
2

Preparer

Firm
Schall & Ashenfarb Cpas
Address
307 5th Ave 15th Floor, NEW YORK, NY 10016-6517
Preparer
Michael Schall
Phone
2122682800
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Organization does not believe its financial statements include any material, uncertain tax positions. The tax filing for the period ending December 31, 2014 is subject to examination by applicable taxing authorities.

Raw XML AppendixShowing 400 of 538 raw XML fields

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IRS990/Desc02016 was a wonderful year for Slingshot, as we emerged from a significant transition and move towards the future with solid leadership and vision. As we reflect on the past year, we celebrate these accomplishments:Formal EvaluationIn the fall of 2016 Slingshot released our first-ever formal evaluation, conducted by Informing Change. Attached is a copy of the info graphic as well as the findings. According to the final report, Slingshot Guides effectively engage Next Gen funders who are currently living in a vibrant innovation ecosystem. They continue to turn to the Guide for funding ideas. With billions of dollars of wealth set to transfer to the next generation over the next decade the Slingshot Guide presents a unique opportunity for successfully reaching and engaging the next generation of Jewish leadership on the cusp of the dramatic and impactful transfer of wealth. A few highlights from the report include:Slingshots contribution to stimulating funding for and prioritization of Jewish innovative projects is most clear to Next Gen funders. Nearly everyone who participated in this study credits Slingshot with raising visibility of the organizations and cultivating interest in their work. For the innovators, it is clear that inclusion in the Guide serves as a seal of approval, lending legitimacy and endorsement to grant proposals and communications. StaffingIn June 2016 Slingshot hired Rachel Hodes as our Director of Community Experience. Rachel oversees production of the Slingshot Guide and has been instrumental in both the execution of the Slingshot Funds and the Innovation Shabbat Dinners. As a former staff member at UJA Federation of New York, Rachel brings with her a knowledge of philanthropy and grantmaking that translates well to her work with the Slingshot Funds. She is also a founding member of Moishe House New York and has been involved with Jewish innovation personally and professionally. Since Rachel joined the staff Slingshot has increased our capacity exponentially.Slingshot DayIn November 2016, Slingshot hosted nearly 200 funders and organizations for a Slingshot Day like no other. Held in a beautiful space in NYC, Slingshot embraced the opportunity to give participants a taste of Jewish innovation which included:The 90 Minute Slingshot Fund, bringing together funders and organizational representatives to grant $10,000 in real-time to organizations featured in the Guide. A panel on the UpStart merger, which included executives from UpStart, Joshua Venture, Bikkurim and PresenTense along with Mamie Kanfer Stewart (Lippman Kanfer Foundation for Living Torah) as facilitator and funder of the merger. A lunch session about Jewish innovation and food featuring the 4th Generation of the Russ and Daughters family, Gefilteria and a woman who started a gourmet horseradish (Ish) company from a family recipe. In each case we had Next Gens who had inherited a legacy and made it their own. Lunch featured food from both Russ and Daughters and Ish.A series of sessions offering tastes of some of the newest organizations in the Guide. This included a study session with Benay Lappe of SVARA and a mixology class with Rabbi Jess Minnen of OneTable. A closing panel with heads of Slingshot organizations that had gone from start up to mezzanine over the years, speaking about lessons learned over the years. Slingshot FundsThis past year we ran two Slingshot Funds. One fund focused on the National Guide and one supported organizations featured in the Chicago edition. The Chicago fund included a Grand Street training with 21/64 for the launch. Members of the funds got to know each organization in their Guide, learned how to read financials and gleaned best practices for conducting site visits. In total the funds granted $77,500 and engaged 12 Next Gen funders. An additional outcome we celebrate this year is the addition of one fund member to the Slingshot board for 2017.UpShot CollaborativeA new program created in 2016 with Upstart, thi
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IRS990/MissionDesc0Slingshot's mission is to inspire the Jewish community - and grow its capacity - to innovate, focusing on the role of philanthropy in supporting that innovation. We believe that continuous innovation in Jewish life fulfills the current and future needs of the Jewish community:1. Next generation funders2. Innovative organizations3. Funders of Jewish innovation
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization does not believe its financial statements include any material, uncertain tax positions. The tax filing for the period ending December 31, 2014 is subject to examination by applicable taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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