Civic Intelligence

IDC Foundation Inc.

990 • Fiscal year 2017 • EIN 47-2662220

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

Organization ProfileN/A
277 Jackson CresCenterport, NY 11721

(631) 423-8145

Siviq Scores

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

Liabilities / Assets

44th percentile

0.24x

Higher debt load relative to assets than 44% of similar nonprofits.

2017 filings • NTEE B • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

30th percentile

0.25x

Higher debt load relative to revenue than 30% of similar nonprofits.

2017 filings • NTEE B • $25M-$50M nonprofits • Source year 2017

Net Margin

97th percentile

75%

Higher net margin than 97% of similar nonprofits.

2017 filings • NTEE B • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2017 filings • NTEE B • $25M-$50M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

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

Source year 2017

Revenue Growth

Score unavailable

No value available

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

Source year 2017

Balance Sheet
Liabilities / Assets44th percentile

Assets

$26,444,277

No earlier filing loaded for comparison.

Net Assets

$20,105,632

No earlier filing loaded for comparison.

Liabilities

$6,338,645

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin97th percentile

Revenue

$25,741,644

No earlier filing loaded for comparison.

Expenses

$6,419,180

No earlier filing loaded for comparison.

Net Income

$19,322,464

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$40M$30M$20M$10M$0Assets 2017: $26,444,277Liabilities 2017: $6,338,645Net Assets 2017: $20,105,6322017Assets 2018: $29,332,748Liabilities 2018: $50,678Net Assets 2018: $29,282,0702018Assets 2019: $29,276,763Liabilities 2019: $803,890Net Assets 2019: $28,472,8732019Assets 2020: $28,437,660Liabilities 2020: $39,267Net Assets 2020: $28,398,3932020Assets 2021: $31,905,692Liabilities 2021: $388,491Net Assets 2021: $31,517,2012021Assets 2022: $27,063,530Liabilities 2022: $321,776Net Assets 2022: $26,741,7542022Assets 2023: $27,823,166Liabilities 2023: $377,665Net Assets 2023: $27,445,5012023Assets 2024: $30,096,832Liabilities 2024: $65,523Net Assets 2024: $30,031,3092024

Highlighted filing

2017

Assets$26,444,277
Liabilities$6,338,645
Net Assets$20,105,632
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$30M$20M$10M$0-$10MRevenue 2017: $25,741,644Expenses 2017: $6,419,180Net Income 2017: $19,322,4642017Revenue 2018: $11,675,200Expenses 2018: $1,896,650Net Income 2018: $9,778,5502018Revenue 2019: $1,541,067Expenses 2019: $2,953,093Net Income 2019: -$1,412,0262019Revenue 2020: $1,031,808Expenses 2020: $935,805Net Income 2020: $96,0032020Revenue 2021: $1,443,639Expenses 2021: $1,898,905Net Income 2021: -$455,2662021Revenue 2022: $1,892,547Expenses 2022: $1,449,551Net Income 2022: $442,9962022Revenue 2023: $1,166,011Expenses 2023: $2,039,817Net Income 2023: -$873,8062023Revenue 2024: $2,261,826Expenses 2024: $788,061Net Income 2024: $1,473,7652024

Highlighted filing

2017

Revenue$25,741,644
Expenses$6,419,180
Net Income$19,322,464
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.0
Gross Receipts
$28,278,951
Mission and Program Overview

Mission

IDC Foundation Inc. was founded to provide scholarships to help undergraduate and professional students preparing for careers in the building construction industry, including but not limited to architecture,construction, engineering, and interior design, to pay for the costs of their education at educational institutions that are exempt from taxation under either Section 501(c)(3) or Section 115 of the Internal Revenue Code.IDC Foundation Inc. will provide funding for internships for such students as long as internships are supervised or approved by the Educational Institutions at which such students are enrolled. IDC Foundation will Provide Grants to Educational Institutions for the purpose of encouraging and supporting students pursuing careers in the building construction industry and to support research and educational programs relevant to the building construction industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$25,793,532-
Savings and Temporary Cash Investments-$502,133-
Cash and Non-Interest-Bearing Accounts$18,000$148,612▲ $130,612
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 Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$18,000$26,444,277▲ $26,426,277
Other Assets Total-$0-
Liabilities
Grants Payable-$6,334,323-
Accounts Payable and Accrued Expenses-$4,322-
Total Liabilities$0$6,338,645▲ $6,338,645
Net Assets / Fund Balance
Unrestricted Net Assets$18,000$20,105,632▲ $20,087,632
Total Net Assets Fund Balance$18,000$20,105,632▲ $20,087,632
Total Liabilities and Net Assets / Fund Balance$18,000$26,444,277▲ $26,426,277
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Raymond SavinoPresident/Treas
Frank DarConteDirector
Frank FortinoVP/Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$25,321,141
Program Service Revenue
$0
Investment Income
$420,503
Other Revenue
$0
All Other Contributions
$25,321,141
Change in Net Assets
$19,322,464

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$24,310,700Fair Market Value
Total Noncash Contributions1$24,310,700-

Audited Revenue Reconciliation

Revenue per Audited Statements
$25,741,644
Total Revenue per Audited Statements
$25,741,644
Total Revenue per Form 990
$25,741,644
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,334,323
Other Expenses$84,857
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$6,334,323--$6,334,323
Fees for Service Investment Mgmnt Fees-$65,431-$65,431
Fees for Services Legal-$17,312-$17,312
Insurance-$1,159-$1,159
Other Expenses-$378-$378
Total Functional Expenses$6,334,323$84,857$0$6,419,180

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,531,095
Expenses per Audited Statements$6,419,180
Total Expenses per Form 990$6,419,180
Expenses Not Reported on Form 990$111,915
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
New York UniversityNew York, NY501(c)(3)Construction Innovation Innitiative$2,080,192
Cooper UnionNew York, NY501(c)(3)AACE Lab$1,890,795
NY Institue of TechnologyNew York, NY501(c)(3)Digital Technologies/Fabrication$1,890,795
Pratt InstituteBrooklyn, NY501(c)(3)Design Lab Innitiative$472,541
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
No
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, Line 11B: Form 990 Review Process

“Form 990 will be reviewed by the corporate officers before filing.”

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

“Monitoring is done quarterly at meetings of the Board of Trustees along with an annual review of the policy.”

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

“Documents are available for inspection at the office of the organization.”

Filing and Contact Details

Filer

Filer Name
IDC Foundation Inc
EIN
47-2662220
Phone
6314238145
Address
277 Jackson Cres, Centerport, NY 11721

Signing Officer

Name
Raymond Savino
Title
President/Treas
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Raymond Savino
Formed
2014
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
DAmbrozioNewman & Co LLP
Address
245 Saw Mill River Road, Hawthorne, NY 10532-1547
Preparer
Christopher D'Ambrozio CPA
Phone
9147731700
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Cost basis adjustment/Spin offs/amortization = -$111915”

Financial Statement Notes

Part XII, Line 2D: Other expenses and losses per audited F/S

“Cost basis adjustment/Spin offs/amortiza $111915”

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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/ExpensesSubtotalAmt06419180
IRS990ScheduleD/OtherExpensesIncludedAmt0111915
IRS990ScheduleD/RevenueSubtotalAmt025741644
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Cost basis adjustment/Spin offs/amortiza $111915
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/TotalExpensesPerForm990Amt06419180
IRS990ScheduleD/TotalRevenuePerForm990Amt025741644
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt025741644
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06531095
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt01890795
IRS990ScheduleI/RecipientTable/CashGrantAmt12080192
IRS990ScheduleI/RecipientTable/CashGrantAmt21890795
IRS990ScheduleI/RecipientTable/CashGrantAmt3472541
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0AACE Lab
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Construction Innovation Innitiative
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Digital Technologies/Fabrication
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Design Lab Innitiative
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Cooper Union
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1New York University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2NY Institue of Technology
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Pratt Institute
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt030 Cooper Square
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1105 E 17th St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21855 Broadway
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3200 Willoughby Ave
IRS990ScheduleI/RecipientTable/USAddress/CityNm0New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm1New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm2New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Brooklyn
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NY
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd110003
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Grantee shall provide annual written reports, which shall be delivered to the Foundation within 90 days of the Grantee's fiscal year. The Annual Report shall be signed and presented by an officer of the Grantee and shall include a detailed accounting of how the Grant funds were expended during the prior year with regard to the project, a narrative description of the Grantee's progress in achieving the purpose of the Project during the prior year and a statement regarding whether the Grantee has fully complied with the terms of the agreement. Upon completion of the project, Grantee shall provide a final report, which reports shall be in lieu of any Annual Report with respect to the fiscal year in which the project is completed.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
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IRS990ScheduleI/TotalOtherOrgCnt00
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IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt01
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0Fair Market Value
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IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt024310700
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 will be reviewed by the corporate officers before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Monitoring is done quarterly at meetings of the Board of Trustees along with an annual review of the policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Documents are available for inspection at the office of the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Cost basis adjustment/Spin offs/amortization = -$111915
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other Changes In Net Assets Or Fund Balances - Other Decreases
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IRS990/SignificantChangeInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt026444277
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IRS990/TotalContributionsAmt025321141
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt084857
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt06334323
IRS990/TotalFunctionalExpensesGrp/TotalAmt06419180
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt06338645
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt06338645
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt018000
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt020105632
IRS990/TotalProgramServiceExpensesAmt06334323
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0420503
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt025741644
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt018000
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt026444277
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt018000
IRS990/UnrestrictedNetAssetsGrp/EOYAmt020105632
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0c/o DeMatteis 820 Elmont Rd
IRS990/USAddress/CityNm0Elmont
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011003
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Raymond Savino
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President/Treas
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IDC Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0IDCF
ReturnHeader/Filer/EIN0472662220
ReturnHeader/Filer/PhoneNum06314238145
ReturnHeader/Filer/USAddress/AddressLine1Txt0277 Jackson Cres
ReturnHeader/Filer/USAddress/CityNm0Centerport
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011721
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DAmbrozioNewman & Co LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0245 Saw Mill River Road
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Hawthorne
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0105321547
ReturnHeader/PreparerPersonGrp/PhoneNum09147731700
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Christopher D'Ambrozio CPA
ReturnHeader/ReturnTs02018-05-14T13:04:22-07:00
ReturnHeader/ReturnTypeCd0990

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,444,277
Liabilities
$6,338,645
Net assets
$20,105,632
Revenue
$25,741,644
Expenses
$6,419,180
Net income
$19,322,464
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$30.1$0.07$30.0$2.26$0.79$1.47
2023Detailed filing. Detailed filing data is available for this year.$27.8$0.38$27.4$1.17$2.04$0.87
2022Detailed filing. Detailed filing data is available for this year.$27.1$0.32$26.7$1.89$1.45$0.44
2021Detailed filing. Detailed filing data is available for this year.$31.9$0.39$31.5$1.44$1.90$0.46
2020Detailed filing. Detailed filing data is available for this year.$28.4$0.04$28.4$1.03$0.94$0.10
2019Detailed filing. Detailed filing data is available for this year.$29.3$0.80$28.5$1.54$2.95$1.41
2018Detailed filing. Detailed filing data is available for this year.$29.3$0.05$29.3$11.7$1.90$9.78
2017Detailed filing. Detailed filing data is available for this year.$26.4$6.34$20.1$25.7$6.42$19.3