Civic Intelligence

IDC Foundation Inc.

990 • Fiscal year 2019 • EIN 47-2662220

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 29, 2020

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

22nd percentile

0.03x

Higher debt load relative to assets than 22% of similar nonprofits.

2019 filings • NTEE B • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

60th percentile

0.52x

Higher debt load relative to revenue than 60% of similar nonprofits.

2019 filings • NTEE B • $25M-$50M nonprofits • Source year 2019

Net Margin

2nd percentile

-92%

Higher net margin than 2% of similar nonprofits.

2019 filings • NTEE B • $25M-$50M nonprofits • Source year 2019

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.

2019 filings • NTEE B • $25M-$50M nonprofits • Source year 2019

Asset Growth

36th percentile

-0.2%

Faster asset growth than 36% of similar nonprofits.

2019 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

2nd percentile

-87%

Faster revenue growth than 2% of similar nonprofits.

2019 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2018 to 2019

Assets

Down

$29,276,763

Down $55,985 (-0.2%) from 2018

Net Assets

Down

$28,472,873

Down $809,197 (-2.8%) from 2018

Liabilities

Up

$803,890

Up $753,212 (+1486%) from 2018

Revenue

Down

$1,541,067

Down $10,134,133 (-87%) from 2018

Expenses

Up

$2,953,093

Up $1,056,443 (+56%) from 2018

Net Income

Down

-$1,412,026

Down $11,190,576 (-114%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$29,276,763
Liabilities$803,890
Net Assets$28,472,873

Operations Trend

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

2019

Revenue$1,541,067
Expenses$2,953,093
Net Income-$1,412,026
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 29, 2020
Return Version
2018v3.1
Gross Receipts
$8,004,293
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$19,590,789$24,218,692▲ $4,627,903
Pledges and Grants Receivable$9,452,000$0▼ $9,452,000
Savings and Temporary Cash Investments$288,749$4,977,876▲ $4,689,127
Cash and Non-Interest-Bearing Accounts$1,210$80,195▲ $78,985
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$29,332,748$29,276,763▼ $55,985
Other Assets Total-$0-
Liabilities
Grants Payable-$750,000-
Accounts Payable and Accrued Expenses$50,678$53,890▲ $3,212
Total Liabilities$50,678$803,890▲ $753,212
Net Assets / Fund Balance
Unrestricted Net Assets$29,282,070$28,472,873▼ $809,197
Total Net Assets Fund Balance$29,282,070$28,472,873▼ $809,197
Total Liabilities and Net Assets / Fund Balance$29,332,748$29,276,763▼ $55,985
Compensation and Service Providers

Board Members and Trustees

NameTitle
Raymond SavinoPresident/Treas
Carol LoewensonDirector
Elizabeth BattistaDirector
Frank FortinoVP/Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,541,067
Other Revenue
$0
Change in Net Assets
$-1,412,026

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,541,067
Total Revenue per Audited Statements
$1,541,067
Total Revenue per Form 990
$1,541,067
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,650,000
Other Expenses$303,093
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,650,000--$2,650,000
Fees for Service Investment Mgmnt Fees-$130,395-$130,395
Fees for Services Legal$37,067--$37,067
Fees for Services Accounting-$24,563-$24,563
All Other Expenses$1,650$2,696-$4,346
Other Expenses$3,403$2,343-$2,343
Insurance-$1,159-$1,159
Total Functional Expenses$2,791,937$161,156$0$2,953,093

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,046,115
Expenses per Audited Statements$2,953,093
Total Expenses per Form 990$2,953,093
Expenses Not Reported on Form 990$93,022
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Columbia UniversityNew York, NY-Housing Research/Professorship$2,000,000
Columbia UniversityNew York, NY-Scholarships/Fellowship/Travel Stip$130,000
Cooper UnionNew York, NY-Scholarships/Fellowship/Travel Stip$130,000
NY Institue of TechnologyNew York, NY-Scholarships/Fellowship/Travel Stip$130,000
New York UniversityNew York, NY-Scholarships/Fellowship/Travel Stip$130,000
Pratt InstituteBrooklyn, NY-Scholarships/Fellowship/Travel Stip$130,000
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
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
Address
277 Jackson Cres, Centerport, NY 11721

Signing Officer

Name
Raymond Savino
Title
President/Treas
Signed
2020-06-29
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
DAmbrozioNewman & Co LLP
Address
245 Saw Mill River Road, Hawthorne, NY 10532
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/wash sale = -$89618

Other Changes In Net Assets Or Fund Balances - Other Decreases

Meals = -$3403

Financial Statement Notes

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

Cost basis adjustment/Spin off/wash sale $89618 Meals $3404

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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0288749
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04977876
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt015000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt015000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt030000
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt030000
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt015000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt015000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt030000
IRS990ScheduleA/TotalSupportAmt030000
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotReportedAmt093022
IRS990ScheduleD/ExpensesSubtotalAmt02953093
IRS990ScheduleD/OtherExpensesIncludedAmt093022
IRS990ScheduleD/RevenueSubtotalAmt01541067
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Cost basis adjustment/Spin off/wash sale $89618 Meals $3404
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/TotalExpensesPerForm990Amt02953093
IRS990ScheduleD/TotalRevenuePerForm990Amt01541067
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01541067
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03046115
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0130000
IRS990ScheduleI/RecipientTable/CashGrantAmt12000000
IRS990ScheduleI/RecipientTable/CashGrantAmt2130000
IRS990ScheduleI/RecipientTable/CashGrantAmt3130000
IRS990ScheduleI/RecipientTable/CashGrantAmt4130000
IRS990ScheduleI/RecipientTable/CashGrantAmt5130000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt50
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Scholarships/Fellowship/Travel Stip
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Housing Research/Professorship
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Scholarships/Fellowship/Travel Stip
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Scholarships/Fellowship/Travel Stip
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Scholarships/Fellowship/Travel Stip
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5Scholarships/Fellowship/Travel Stip
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Columbia University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Columbia University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Cooper Union
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3New York University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4NY Institue of Technology
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5Pratt Institute
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01172 Amsterdam Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11172 Amsterdam Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt230 Cooper Square
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3105 E 17th St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt41855 Broadway
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5200 Willoughby Ave
IRS990ScheduleI/RecipientTable/USAddress/CityNm0New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm1New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm2New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm3New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm4New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm5Brooklyn
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd010027
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd110027
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd210003
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd310003
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd410023
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd511205
IRS990ScheduleI/Total501c3OrgCnt05
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
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/wash sale = -$89618
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Meals = -$3403
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt029332748
IRS990/TotalAssetsEOYAmt029276763
IRS990/TotalAssetsGrp/BOYAmt029332748
IRS990/TotalAssetsGrp/EOYAmt029276763
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0161156
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02791937
IRS990/TotalFunctionalExpensesGrp/TotalAmt02953093
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt050678
IRS990/TotalLiabilitiesEOYAmt0803890
IRS990/TotalLiabilitiesGrp/BOYAmt050678
IRS990/TotalLiabilitiesGrp/EOYAmt0803890
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt029282070
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt028472873
IRS990/TotalProgramServiceExpensesAmt02791937
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01541067
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01541067
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt029332748
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt029276763
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt029282070
IRS990/UnrestrictedNetAssetsGrp/EOYAmt028472873
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0277 Jackson Cres
IRS990/USAddress/CityNm0Centerport
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011721
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-11-19 02:30:22Z

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