Civic Intelligence

Fifty Vanderbilt Foundation Inc.

990 • Fiscal year 2022 • EIN 47-3973048

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 06, 2023

50 Vanderbilt AvenueNew York, NY 10017

(212) 716-2112

Siviq Scores

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

Liabilities / Assets

36th percentile

0.02x

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

2022 filings • NTEE N • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

89th percentile

1.19x

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

2022 filings • NTEE N • $1M-$5M nonprofits • Source year 2022

Net Margin

6th percentile

-40%

Higher net margin than 6% of similar nonprofits.

2022 filings • NTEE N • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

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

2022 filings • NTEE N • $1M-$5M nonprofits • Source year 2022

Asset Growth

40th percentile

0.7%

Faster asset growth than 40% of similar nonprofits.

2022 filings • NTEE N • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

3rd percentile

-65%

Faster revenue growth than 3% of similar nonprofits.

2022 filings • NTEE N • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$1,235,709

Up $8,720 (+0.7%) from 2021

Net Assets

Down

$1,214,445

Down $7,094 (-0.6%) from 2021

Liabilities

Up

$21,264

Up $15,814 (+290%) from 2021

Revenue

Down

$17,907

Down $33,211 (-65%) from 2021

Expenses

Down

$25,001

Down $2,313 (-8.5%) from 2021

Net Income

Down

-$7,094

Down $30,898 (-130%) from 2021

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2015: $8,895Liabilities 2015: $15,854Net Assets 2015: -$6,9592015Assets 2016: $334,335Liabilities 2016: $33,709Net Assets 2016: $300,6262016Assets 2017: $347,239Liabilities 2017: $37,100Net Assets 2017: $310,1392017Assets 2018: $1,112,245Liabilities 2018: $46,460Net Assets 2018: $1,065,7852018Assets 2019: $1,204,750Liabilities 2019: $70,293Net Assets 2019: $1,134,4572019Assets 2020: $1,474,540Liabilities 2020: $276,805Net Assets 2020: $1,197,7352020Assets 2021: $1,226,989Liabilities 2021: $5,450Net Assets 2021: $1,221,5392021Assets 2022: $1,235,709Liabilities 2022: $21,264Net Assets 2022: $1,214,4452022Assets 2023: $1,348,196Liabilities 2023: $6,342Net Assets 2023: $1,341,8542023Assets 2024: $1,585,865Liabilities 2024: $70,696Net Assets 2024: $1,515,1692024

Highlighted filing

2022

Assets$1,235,709
Liabilities$21,264
Net Assets$1,214,445

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2015: $9,000Expenses 2015: $15,959Net Income 2015: -$6,9592015Revenue 2016: $325,600Expenses 2016: $18,015Net Income 2016: $307,5852016Revenue 2017: $47,570Expenses 2017: $38,057Net Income 2017: $9,5132017Revenue 2018: $812,625Expenses 2018: $56,979Net Income 2018: $755,6462018Revenue 2019: $97,595Expenses 2019: $28,923Net Income 2019: $68,6722019Revenue 2020: $562,111Expenses 2020: $498,833Net Income 2020: $63,2782020Revenue 2021: $51,118Expenses 2021: $27,314Net Income 2021: $23,8042021Revenue 2022: $17,907Expenses 2022: $25,001Net Income 2022: -$7,0942022Revenue 2023: $218,445Expenses 2023: $91,036Net Income 2023: $127,4092023Revenue 2024: $216,447Expenses 2024: $177,792Net Income 2024: $38,6552024

Highlighted filing

2022

Revenue$17,907
Expenses$25,001
Net Income-$7,094
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 6, 2023
Return Version
2022v5.0
Gross Receipts
$17,907
Mission and Program Overview

Mission

Preserving the historically significant building located at 50 vanderbilt ave, ny, ny 10017

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,012,357$1,019,209▲ $6,852
Cash and Non-Interest-Bearing Accounts$206,035$216,500▲ $10,465
Total Assets$1,226,989$1,235,709▲ $8,720
Other Assets Total$8,597$0▼ $8,597
Liabilities
Other Liabilities$0$15,264▲ $15,264
Accounts Payable and Accrued Expenses$5,450$6,000▲ $550
Total Liabilities$5,450$21,264▲ $15,814
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,221,539$1,214,445▼ $7,094
Total Net Assets Fund Balance$1,221,539$1,214,445▼ $7,094
Total Liabilities and Net Assets / Fund Balance$1,226,989$1,235,709▲ $8,720
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$11,050
Program Service Revenue
$0
Investment Income
$6,857
Other Revenue
$0
All Other Contributions
$11,050
Change in Net Assets
$-7,094

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,907
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$17,907
Total Revenue per Form 990
$17,907
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$25,001
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$9,752-$9,752
Other Expenses-$6,734-$6,734
Fees for Services Other-$6,000-$6,000
Fees for Services Legal-$1,438-$1,438
Insurance-$1,077-$1,077
Total Functional Expenses$0$25,001$0$25,001

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$25,001
Total Expenses per Audited Statements$25,001
Total Expenses per Form 990$25,001
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to the Yale Club of New York City$15,264
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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, Section A, Line 8B

The foundation does not have committees.

Form 990, Part VI, Section B, Line 11B

Each board member is given a copy of the form 990 for review prior to filing with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

Annually the board fills out conflict of interest statements, all conflicts of interest are then review by the president and the full board.

Form 990, Part VI, Section C, Line 19

The foundation will make its governing documents, conflict of interest policy, and financial statements available to the general public upon request.

Filing and Contact Details

Filer

Filer Name
Fifty Vanderbilt Foundation Inc
EIN
47-3973048
Phone
2127162112
Address
50 VANDERBILT AVENUE, NEW YORK, NY 10017

Signing Officer

Name
Ted Berenblum
Title
Treasurer
Phone
2127162112
Signed
2023-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ted Berenblum
Formed
2015
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY LLP
Address
ONE BATTERY PARK PLAZA 7TH FL, NEW YORK, NY 10004
Preparer
Alexander Lazzaruolo
Phone
2126617777
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

The fifty vanderbilt foundation, inc. (the "foundation") was incorporated under the new york not-for-profit corporation law on april 29, 2015. The foundation was formed primarily for the purpose of restoring, maintaining and preserving the designated landmark located at 50 vanderbilt avenue, new york, ny 10017. Secondary purposes include providing scholarships for yale university students, as well as fostering awareness and appreciation for the works of james gamble rogers, renowned architect of 50 vanderbilt avenue, and works located on the yale university campus. On october 2, 2020, in furtherance of its charitable purposes, the foundation's certificate of incorporation was amended to add a provision to operate an employee relief fund ("relief fund") for the yale club of new york city (the "yale club") for the purpose of providing financial and other assistance to employees of the yale club affected by current and future disaster and hardship provided, however, that such relief fund is established and operated solely and exclusively in furtherance of charitable purposes within the meaning of section 501(c)(3) of the internal revenue code of 1986 (the "code"), as it may be amended, and meets such other requirements in order for contributions to the foundation for the relief fund to fulfill a purpose described in section 170(c)(2)(b) of the code.

Form 990, Part IX, Line 11G

Other: program service expenses 0. Management and general expenses 6,000. Fundraising expenses 0. Total expenses 6,000.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO THE YALE CLUB OF NEW YORK CITY
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FIFTY VANDERBILT FOUNDATION, INC. (THE "FOUNDATION") WAS INCORPORATED UNDER THE NEW YORK NOT-FOR-PROFIT CORPORATION LAW ON APRIL 29, 2015. THE FOUNDATION WAS FORMED PRIMARILY FOR THE PURPOSE OF RESTORING, MAINTAINING AND PRESERVING THE DESIGNATED LANDMARK LOCATED AT 50 VANDERBILT AVENUE, NEW YORK, NY 10017. SECONDARY PURPOSES INCLUDE PROVIDING SCHOLARSHIPS FOR YALE UNIVERSITY STUDENTS, AS WELL AS FOSTERING AWARENESS AND APPRECIATION FOR THE WORKS OF JAMES GAMBLE ROGERS, RENOWNED ARCHITECT OF 50 VANDERBILT AVENUE, AND WORKS LOCATED ON THE YALE UNIVERSITY CAMPUS. ON OCTOBER 2, 2020, IN FURTHERANCE OF ITS CHARITABLE PURPOSES, THE FOUNDATION'S CERTIFICATE OF INCORPORATION WAS AMENDED TO ADD A PROVISION TO OPERATE AN EMPLOYEE RELIEF FUND ("RELIEF FUND") FOR THE YALE CLUB OF NEW YORK CITY (THE "YALE CLUB") FOR THE PURPOSE OF PROVIDING FINANCIAL AND OTHER ASSISTANCE TO EMPLOYEES OF THE YALE CLUB AFFECTED BY CURRENT AND FUTURE DISASTER AND HARDSHIP PROVIDED, HOWEVER, THAT SUCH RELIEF FUND IS ESTABLISHED AND OPERATED SOLELY AND EXCLUSIVELY IN FURTHERANCE OF CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"), AS IT MAY BE AMENDED, AND MEETS SUCH OTHER REQUIREMENTS IN ORDER FOR CONTRIBUTIONS TO THE FOUNDATION FOR THE RELIEF FUND TO FULFILL A PURPOSE DESCRIBED IN SECTION 170(C)(2)(B) OF THE CODE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION DOES NOT HAVE COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH BOARD MEMBER IS GIVEN A COPY OF THE FORM 990 FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY THE BOARD FILLS OUT CONFLICT OF INTEREST STATEMENTS, ALL CONFLICTS OF INTEREST ARE THEN REVIEW BY THE PRESIDENT AND THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 6,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-06
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CONDON O'MEARA MCGINTY & DONNELLY LLP
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ReturnHeader/PreparerPersonGrp/PhoneNum02126617777
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALEXANDER LAZZARUOLO
ReturnHeader/ReturnTs02023-11-14T18:33:48-06:00
ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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