Civic Intelligence

IDC Foundation Inc.

990 • Fiscal year 2022 • EIN 47-2662220

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2024

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

18th percentile

0.01x

Higher debt load relative to assets than 18% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

36th percentile

0.17x

Higher debt load relative to revenue than 36% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Net Margin

78th percentile

23%

Higher net margin than 78% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

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.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Asset Growth

8th percentile

-15%

Faster asset growth than 8% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

77th percentile

31%

Faster revenue growth than 77% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2021 to 2022

Assets

Down

$27,063,530

Down $4,842,162 (-15%) from 2021

Net Assets

Down

$26,741,754

Down $4,775,447 (-15%) from 2021

Liabilities

Down

$321,776

Down $66,715 (-17%) from 2021

Revenue

Up

$1,892,547

Up $448,908 (+31%) from 2021

Expenses

Down

$1,449,551

Down $449,354 (-24%) from 2021

Net Income

Up

$442,996

Up $898,262 (+197%) from 2021

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

2022

Assets$27,063,530
Liabilities$321,776
Net Assets$26,741,754

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

2022

Revenue$1,892,547
Expenses$1,449,551
Net Income$442,996
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2024
Return Version
2021v4.1
Gross Receipts
$7,669,939
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$30,959,152$25,793,471▼ $5,165,681
Savings and Temporary Cash Investments$870,802$1,236,735▲ $365,933
Cash and Non-Interest-Bearing Accounts$75,738$33,324▼ $42,414
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$31,905,692$27,063,530▼ $4,842,162
Other Assets Total-$0-
Liabilities
Grants Payable$337,650$280,650▼ $57,000
Accounts Payable and Accrued Expenses$50,841$41,126▼ $9,715
Total Liabilities$388,491$321,776▼ $66,715
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$31,517,201$26,741,754▼ $4,775,447
Total Net Assets Fund Balance$31,517,201$26,741,754▼ $4,775,447
Total Liabilities and Net Assets / Fund Balance$31,905,692$27,063,530▼ $4,842,162
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
$1,892,547
Other Revenue
$0
Change in Net Assets
$442,996

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,892,547
Revenue Not Reported on Form 990
$-5,212,747
Total Revenue per Audited Statements
$-3,320,200
Total Revenue per Form 990
$1,892,547
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,133,650
Other Expenses$315,901
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,133,650--$1,133,650
Fees for Service Investment Mgmnt Fees-$200,709-$200,709
Fees for Services Accounting-$26,820-$26,820
Fees for Services Legal$6,008$592-$6,600
Insurance-$1,471-$1,471
Other Expenses$1,650$548-$548
Total Functional Expenses$1,217,324$232,227$0$1,449,551

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,455,247
Expenses per Audited Statements$1,449,551
Total Expenses per Form 990$1,449,551
Expenses Not Reported on Form 990$5,696
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Columbia UniversityNew York, NY-Scholarships/Fellowship/Innovation$350,000
Barnard CollegeNew York, NY-Scholarships/Workshops$227,000
New York UniversityNew York, NY-Scholarships/Fellowship/Innovation$200,000
Cooper UnionNew York, NY-Scholarships/Fellowship/Innovation$100,000
NY Institue of TechnologyNew York, NY-Scholarships/Fellowship/Innovation$100,000
Pratt InstituteBrooklyn, NY-Scholarships/Fellowship/Innovation$100,000
Center for ArchitectureNew York, NY-Forum/Event$31,650
American Institute Arch NYNew York, NY-Endowment for Lecture Series$25,000
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
2024-05-15
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 = -$5696

Financial Statement Notes

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

Cost basis adjustment/Spin off/wash sale $5696

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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt015000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt015000
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt015000
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt015000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt015000
IRS990ScheduleA/TotalSupportAmt015000
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotReportedAmt05696
IRS990ScheduleD/ExpensesSubtotalAmt01449551
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-5212747
IRS990ScheduleD/OtherExpensesIncludedAmt05696
IRS990ScheduleD/RevenueNotReportedAmt0-5212747
IRS990ScheduleD/RevenueSubtotalAmt01892547
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Cost basis adjustment/Spin off/wash sale $5696
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/TotalExpensesPerForm990Amt01449551
IRS990ScheduleD/TotalRevenuePerForm990Amt01892547
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0-3320200
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01455247
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt025000
IRS990ScheduleI/RecipientTable/CashGrantAmt1227000
IRS990ScheduleI/RecipientTable/CashGrantAmt231650
IRS990ScheduleI/RecipientTable/CashGrantAmt3350000
IRS990ScheduleI/RecipientTable/CashGrantAmt4100000
IRS990ScheduleI/RecipientTable/CashGrantAmt5200000
IRS990ScheduleI/RecipientTable/CashGrantAmt6100000
IRS990ScheduleI/RecipientTable/CashGrantAmt7100000
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/PurposeOfGrantTxt0Endowment for Lecture Series
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Scholarships/Workshops
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Forum/Event
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Scholarships/Fellowship/Innovation
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Scholarships/Fellowship/Innovation
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5Scholarships/Fellowship/Innovation
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6Scholarships/Fellowship/Innovation
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7Scholarships/Fellowship/Innovation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0American Institute Arch NY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Barnard College
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Center for Architecture
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Columbia University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4Cooper Union
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5New York University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6NY Institue of Technology
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7Pratt Institute
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0536 LaGuardia Place
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt13009 Broadway
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2536 LaGuardia Place
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt31172 Amsterdam Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt430 Cooper Square
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5105 E 17th St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt61855 Broadway
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt7200 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/CityNm7Brooklyn
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/ZIPCd010012
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd110027
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd210012
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd310027
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd410003
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd510003
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd610023
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd711205
IRS990ScheduleI/Total501c3OrgCnt03
IRS990ScheduleI/TotalOtherOrgCnt05
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 = -$5696
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/TotalAssetsBOYAmt031905692
IRS990/TotalAssetsEOYAmt027063530
IRS990/TotalAssetsGrp/BOYAmt031905692
IRS990/TotalAssetsGrp/EOYAmt027063530
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0232227
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01217324
IRS990/TotalFunctionalExpensesGrp/TotalAmt01449551
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0388491
IRS990/TotalLiabilitiesEOYAmt0321776
IRS990/TotalLiabilitiesGrp/BOYAmt0388491
IRS990/TotalLiabilitiesGrp/EOYAmt0321776
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt031517201
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt026741754
IRS990/TotalProgramServiceExpensesAmt01217324
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01892547
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01892547
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt031905692
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt027063530
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0277 Jackson Cres
IRS990/USAddress/CityNm0Centerport
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011721
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A

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