Civic Intelligence

IDC Foundation Inc.

990 • Fiscal year 2021 • EIN 47-2662220

Jul 01, 2020 to Jun 30, 2021 • Filed on May 10, 2022

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

20th percentile

0.01x

Higher debt load relative to assets than 20% of similar nonprofits.

2021 filings • NTEE B • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

42nd percentile

0.27x

Higher debt load relative to revenue than 42% of similar nonprofits.

2021 filings • NTEE B • $25M-$50M nonprofits • Source year 2021

Net Margin

7th percentile

-32%

Higher net margin than 7% of similar nonprofits.

2021 filings • NTEE B • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

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

2021 filings • NTEE B • $25M-$50M nonprofits • Source year 2021

Asset Growth

61st percentile

12%

Faster asset growth than 61% of similar nonprofits.

2021 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

79th percentile

40%

Faster revenue growth than 79% of similar nonprofits.

2021 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Up

$31,905,692

Up $3,468,032 (+12%) from 2020

Net Assets

Up

$31,517,201

Up $3,118,808 (+11%) from 2020

Liabilities

Up

$388,491

Up $349,224 (+889%) from 2020

Revenue

Up

$1,443,639

Up $411,831 (+40%) from 2020

Expenses

Up

$1,898,905

Up $963,100 (+103%) from 2020

Net Income

Down

-$455,266

Down $551,269 (-574%) from 2020

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

2021

Assets$31,905,692
Liabilities$388,491
Net Assets$31,517,201

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

2021

Revenue$1,443,639
Expenses$1,898,905
Net Income-$455,266
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 10, 2022
Return Version
2020v4.0
Gross Receipts
$5,142,232
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$27,633,960$30,959,152▲ $3,325,192
Savings and Temporary Cash Investments$754,518$870,802▲ $116,284
Cash and Non-Interest-Bearing Accounts$49,182$75,738▲ $26,556
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$28,437,660$31,905,692▲ $3,468,032
Other Assets Total-$0-
Liabilities
Grants Payable-$337,650-
Accounts Payable and Accrued Expenses$39,267$50,841▲ $11,574
Total Liabilities$39,267$388,491▲ $349,224
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$28,398,393$31,517,201▲ $3,118,808
Total Net Assets Fund Balance$28,398,393$31,517,201▲ $3,118,808
Total Liabilities and Net Assets / Fund Balance$28,437,660$31,905,692▲ $3,468,032
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,443,639
Other Revenue
$0
Change in Net Assets
$-455,266

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,443,639
Revenue Not Reported on Form 990
$3,580,487
Total Revenue per Audited Statements
$5,024,126
Total Revenue per Form 990
$1,443,639
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,596,000
Other Expenses$302,905
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,596,000--$1,596,000
Fees for Service Investment Mgmnt Fees-$189,484-$189,484
Fees for Services Accounting-$24,263-$24,263
Fees for Services Legal$3,353--$3,353
Insurance-$1,387-$1,387
Other Expenses$4,150$775-$775
All Other Expenses-$500-$500
Total Functional Expenses$1,679,499$219,406$0$1,898,905

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,905,318
Expenses per Audited Statements$1,898,905
Total Expenses per Form 990$1,898,905
Expenses Not Reported on Form 990$6,413
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Cooper UnionNew York, NY-Innovation Fellowship Program$471,000
Columbia UniversityNew York, NY-Research Assistantship$250,000
Pratt InstituteBrooklyn, NY-Innovation/Incubator Funds$175,000
Columbia UniversityNew York, NY-Scholarships/Fellowship$100,000
Columbia UniversityNew York, NY-Scholarships/Fellowship$100,000
Cooper UnionNew York, NY-Scholarships/Fellowship$100,000
NY Institue of TechnologyNew york, NY-Scholarships/Fellowship$100,000
NY Institue of TechnologyNew York, NY-Scholarships/Fellowship$100,000
New York UniversityNew York, NY-Scholarships/Fellowship$100,000
Pratt InstituteBrooklyn, NY-Scholarships/Fellowship$100,000
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 35% controlled entity
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
Signed
2022-05-10
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 = -$6413

Financial Statement Notes

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

Cost basis adjustment/Spin off/wash sale $6413

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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt015000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt015000
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/CurrentTaxYearMinus3YearsAmt015000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt015000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt030000
IRS990ScheduleA/TotalSupportAmt030000
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotReportedAmt06413
IRS990ScheduleD/ExpensesSubtotalAmt01898905
IRS990ScheduleD/NetUnrealizedGainsInvstAmt03580487
IRS990ScheduleD/OtherExpensesIncludedAmt06413
IRS990ScheduleD/RevenueNotReportedAmt03580487
IRS990ScheduleD/RevenueSubtotalAmt01443639
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Cost basis adjustment/Spin off/wash sale $6413
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/TotalExpensesPerForm990Amt01898905
IRS990ScheduleD/TotalRevenuePerForm990Amt01443639
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05024126
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01905318
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0100000
IRS990ScheduleI/RecipientTable/CashGrantAmt1100000
IRS990ScheduleI/RecipientTable/CashGrantAmt2250000
IRS990ScheduleI/RecipientTable/CashGrantAmt3100000
IRS990ScheduleI/RecipientTable/CashGrantAmt4471000
IRS990ScheduleI/RecipientTable/CashGrantAmt5100000
IRS990ScheduleI/RecipientTable/CashGrantAmt6100000
IRS990ScheduleI/RecipientTable/CashGrantAmt7100000
IRS990ScheduleI/RecipientTable/CashGrantAmt8100000
IRS990ScheduleI/RecipientTable/CashGrantAmt9175000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt50
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt60
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt70
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt80
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt90
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Scholarships/Fellowship
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Scholarships/Fellowship
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Research Assistantship
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Scholarships/Fellowship
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Innovation Fellowship Program
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5Scholarships/Fellowship
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6Scholarships/Fellowship
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7Scholarships/Fellowship
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8Scholarships/Fellowship
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt9Innovation/Incubator Funds
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Columbia University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Columbia University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Columbia University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Cooper Union
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4Cooper Union
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5New York University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6NY Institue of Technology
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7NY Institue of Technology
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8Pratt Institute
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9Pratt Institute
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01172 Amsterdam Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11172 Amsterdam Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21172 Amsterdam Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt330 Cooper Square
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt430 Cooper Square
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5105 E 17th St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt61855 Broadway
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt71855 Broadway
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt8200 Willoughby Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt9200 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/CityNm5New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm6New york
IRS990ScheduleI/RecipientTable/USAddress/CityNm7New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm8Brooklyn
IRS990ScheduleI/RecipientTable/USAddress/CityNm9Brooklyn
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/StateAbbreviationCd6NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd7NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd8NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd9NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd010027
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd110027
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd210027
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd310003
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd410003
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd510003
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd610023
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd710023
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd811205
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd911205
IRS990ScheduleI/Total501c3OrgCnt06
IRS990ScheduleI/TotalOtherOrgCnt04
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 = -$6413
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt028437660
IRS990/TotalAssetsEOYAmt031905692
IRS990/TotalAssetsGrp/BOYAmt028437660
IRS990/TotalAssetsGrp/EOYAmt031905692
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0219406
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01679499
IRS990/TotalFunctionalExpensesGrp/TotalAmt01898905
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt039267
IRS990/TotalLiabilitiesEOYAmt0388491
IRS990/TotalLiabilitiesGrp/BOYAmt039267
IRS990/TotalLiabilitiesGrp/EOYAmt0388491
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt028398393
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt031517201
IRS990/TotalProgramServiceExpensesAmt01679499

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