Civic Intelligence

Fifty Vanderbilt Foundation Inc.

990 • Fiscal year 2023 • EIN 47-3973048

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 31, 2024

Organization ProfileWWW.FIFTYVANDERBILTFOUNDATION.ORG
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

29th percentile

0.00x

Higher debt load relative to assets than 29% of similar nonprofits.

2023 filings • NTEE N • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

38th percentile

0.03x

Higher debt load relative to revenue than 38% of similar nonprofits.

2023 filings • NTEE N • $1M-$5M nonprofits • Source year 2023

Net Margin

91st percentile

58%

Higher net margin than 91% of similar nonprofits.

2023 filings • NTEE N • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

57th percentile

$0

Higher top officer pay than 57% of similar nonprofits.

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

2023 filings • NTEE N • $1M-$5M nonprofits • Source year 2023

Asset Growth

61st percentile

9.1%

Faster asset growth than 61% of similar nonprofits.

2023 filings • NTEE N • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

98th percentile

1120%

Faster revenue growth than 98% of similar nonprofits.

2023 filings • NTEE N • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$1,348,196

Up $112,487 (+9.1%) from 2022

Net Assets

Up

$1,341,854

Up $127,409 (+10%) from 2022

Liabilities

Down

$6,342

Down $14,922 (-70%) from 2022

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin91st percentile

Revenue

Up

$218,445

Up $200,538 (+1120%) from 2022

Expenses

Up

$91,036

Up $66,035 (+264%) from 2022

Net Income

Up

$127,409

Up $134,503 (+1896%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

2023

Assets$1,348,196
Liabilities$6,342
Net Assets$1,341,854
Open 2023 Filing

Operations Trend

Revenue Growth98th percentile

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

2023

Revenue$218,445
Expenses$91,036
Net Income$127,409
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 31, 2024
Return Version
2023v5.1
Gross Receipts
$263,282
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$1,019,209$1,141,882▲ $122,673
Cash and Non-Interest-Bearing Accounts$216,500$206,314▼ $10,186
Total Assets$1,235,709$1,348,196▲ $112,487
Liabilities
Accounts Payable and Accrued Expenses$6,000$6,000→ $0
Other Liabilities$15,264$342▼ $14,922
Total Liabilities$21,264$6,342▼ $14,922
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,214,445$1,341,854▲ $127,409
Total Net Assets Fund Balance$1,214,445$1,341,854▲ $127,409
Total Liabilities and Net Assets / Fund Balance$1,235,709$1,348,196▲ $112,487
Compensation and Service Providers
Top Officer Pay57th percentile

Board Members and Trustees

NameTitle
Ted BerenblumPresident
Kathy EdersheimVice President
Dev GandhiMember
Gayle MaurinMember
Kevin LichtenMember
Michael HennessyMember
Neil HohmannMember
Paul D SarkoziMember
Yoshiko InoueMember
Lisa Jenn AxisaSecretary
Edward BurkeTreasure
Revenue and Support

Revenue Composition

Contributions and Grants
$99,715
Program Service Revenue
$0
Investment Income
$122,684
Other Revenue
$-3,954
All Other Contributions
$63,730
Change in Net Assets
$127,409

Audited Revenue Reconciliation

Revenue per Audited Statements
$218,445
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$218,445
Total Revenue per Form 990
$218,445
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$91,036
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 Legal-$71,924-$71,924
Fees for Services Accounting-$11,648-$11,648
Other Expenses-$6,387-$6,387
Insurance-$1,077-$1,077
Total Functional Expenses$0$91,036$0$91,036

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$91,036
Total Expenses per Audited Statements$91,036
Total Expenses per Form 990$91,036
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$44,837
Fundraising Gross Income$40,883
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$76,868$40,883$44,837$-3,954
Total Events$76,868$40,883$44,837$-3,954
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$342
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
2024-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathy Edersheim
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.”

Raw XML Appendix389 raw XML fields

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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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt011050
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt048490
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0549865
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt073985
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0783105
IRS990ScheduleA/TotalSupportAmt0951130
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt091036
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0342
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO THE YALE CLUB OF NEW YORK CITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0218445
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt091036
IRS990ScheduleD/TotalLiabilityAmt0342
IRS990ScheduleD/TotalRevenuePerForm990Amt0218445
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0218445
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt091036
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt035985
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt035985
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt044837
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IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-3954
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
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/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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01235709
IRS990/TotalAssetsEOYAmt01348196
IRS990/TotalAssetsGrp/BOYAmt01235709
IRS990/TotalAssetsGrp/EOYAmt01348196
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IRS990/TotalEmployeeCnt00
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IRS990/TotalLiabilitiesGrp/BOYAmt021264
IRS990/TotalLiabilitiesGrp/EOYAmt06342
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt050 VANDERBILT AVENUE
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010017
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.FIFTYVANDERBILTFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TED BERENBLUM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02127162112
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-31
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ReturnHeader/Filer/BusinessNameControlTxt0FIFT
ReturnHeader/Filer/EIN0473973048
ReturnHeader/Filer/PhoneNum02127162112
ReturnHeader/Filer/USAddress/AddressLine1Txt050 VANDERBILT AVENUE
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133628255
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CONDON O'MEARA MCGINTY & DONNELLY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE BATTERY PARK PLAZA 7TH FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010004
ReturnHeader/PreparerPersonGrp/PhoneNum02126617777
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALEXANDER LAZZARUOLO
ReturnHeader/ReturnTs02024-11-13T19:41:25-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,348,196
Liabilities
$6,342
Net assets
$1,341,854
Revenue
$218,445
Expenses
$91,036
Net income
$127,409
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.59$0.07$1.52$0.22$0.18$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.35$0.01$1.34$0.22$0.09$0.13
2022Detailed filing. Detailed filing data is available for this year.$1.24$0.02$1.21$0.02$0.03$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.23$0.01$1.22$0.05$0.03$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.47$0.28$1.20$0.56$0.50$0.06
2019Detailed filing. Detailed filing data is available for this year.$1.20$0.07$1.13$0.10$0.03$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.11$0.05$1.07$0.81$0.06$0.76
2017Summary only. Only limited summary data is available for this year.$0.35$0.04$0.31$0.05$0.04$0.01
2016Summary only. Only limited summary data is available for this year.$0.33$0.03$0.30$0.33$0.02$0.31
2015Detailed filing. Detailed filing data is available for this year.$0.01$0.02$0.01$0.01$0.02$0.01