Civic Intelligence

The Gelt Foundation Inc

990 • Fiscal year 2020 • EIN 82-1521845

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 03, 2021

18751 Ventura Blvd 2nd FloorTarzana, CA 91356

(818) 938-1687

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

93rd percentile

63%

Higher net margin than 93% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

95th percentile

222%

Faster asset growth than 95% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

97th percentile

224%

Faster revenue growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$558,864

Up $385,368 (+222%) from 2019

Net Assets

Up

$558,864

Up $385,368 (+222%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue

Up

$603,887

Up $417,586 (+224%) from 2019

Expenses

Up

$221,808

Up $125,620 (+131%) from 2019

Net Income

Up

$382,079

Up $291,966 (+324%) from 2019

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2017: $42,545Liabilities 2017: $0Net Assets 2017: $42,5452017Assets 2018: $95,946Liabilities 2018: $12,563Net Assets 2018: $83,3832018Assets 2019: $173,496Liabilities 2019: $0Net Assets 2019: $173,4962019Assets 2020: $558,864Liabilities 2020: $0Net Assets 2020: $558,8642020Assets 2021: $667,979Liabilities 2021: $0Net Assets 2021: $667,9792021Assets 2022: $543,332Liabilities 2022: $0Net Assets 2022: $543,3322022

Highlighted filing

2020

Assets$558,864
Liabilities$0
Net Assets$558,864

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2017: $70,509Expenses 2017: $27,964Net Income 2017: $42,5452017Revenue 2018: $160,938Expenses 2018: $120,100Net Income 2018: $40,8382018Revenue 2019: $186,301Expenses 2019: $96,188Net Income 2019: $90,1132019Revenue 2020: $603,887Expenses 2020: $221,808Net Income 2020: $382,0792020Revenue 2021: $520,373Expenses 2021: $411,258Net Income 2021: $109,1152021Revenue 2022: $390,288Expenses 2022: $514,935Net Income 2022: -$124,6472022

Highlighted filing

2020

Revenue$603,887
Expenses$221,808
Net Income$382,079
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 3, 2021
Return Version
2020v4.1
Gross Receipts
$603,887
Mission and Program Overview

Mission

To help responsible tenants stay in their apartments during an unexpected financial emergency.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$173,496$558,864▲ $385,368
Rtn Earn Endowment Incm Other Fnds$173,496$558,864▲ $385,368
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$173,496$558,864▲ $385,368
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$173,496$558,864▲ $385,368
Total Liabilities and Net Assets / Fund Balance$173,496$558,864▲ $385,368
Compensation and Service Providers

Board Members and Trustees

NameTitle
Keith WassermanPresident
Damian LangereDirector
Melissa WassermanDirector
Therese OswaldExecutive Director
Andrew DavisTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$603,887
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$593,887
Change in Net Assets
$382,079
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$148,746
Other Expenses$73,062
Total Fundraising Expense$35,375
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$127,091--$127,091
Advertising--$35,375$35,375
Grants to Domestic Individuals$21,655--$21,655
Fees for Services Other-$20,770-$20,770
Office Expenses$1,313$3,308-$4,621
Fees for Services Accounting-$2,850-$2,850
Fees for Services Legal$2,223--$2,223
Travel-$980-$980
Other Expenses$1,218$60-$60
Total Functional Expenses$156,648$29,785$35,375$221,808
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Avant at Castle PinesNewport Beach, CA-Rent Assistance$9,467
Maa MilsteadGermantown, TN-Rent Assistance$6,160
The Girard at Cherry HillsEnglewood, CO-Rent Assistance$5,669
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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 2

Director keith wasserman is the brother of director melissa wasserman.

Form 990, Part VI, Section A, Line 8B

There are no committees with authority to act on behalf of the governing body.

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

Accounting personnel and independent cpa review and prepare draft 990. Executive director reviews and provides additional information as appropriate. The president reviews and signs the final 990.

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

The conflict of interest policy is reviewed annually with each officer and director.

Form 990, Part VI, Section C, Line 18

Available on guidestar and upon request.

Form 990, Part VI, Section C, Line 19

Available on guidestar and upon request.

Filing and Contact Details

Filer

Filer Name
The Gelt Foundation Inc
EIN
82-1521845
Phone
8189381687
Address
18751 VENTURA BLVD 2ND FLOOR, TARZANA, CA 91356
Doing Business As
Resident Relief Foundation

Signing Officer

Name
Keith Wasserman
Title
President
Phone
8189381687
Signed
2021-11-03

Organization Details

Principal Officer
Keith Wasserman
Formed
2017
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
1

Preparer

Firm
Citrin Cooperman & Company Llp
Address
21650 OXNARD STREET 12TH FLOOR, WOODLAND HILLS, CA 91367
Preparer
Aaron Levy
Phone
8187830570
Supplemental Narrative

Additional Explanations

FORM 990, PART IX:

The officers of the gelt foundation, keith wasserman and damian langere contributed $69,916 through their for-profit organization, gelt ventures, llc to cover the expenses of the organization. This $69,916 covered all expenses of the organization including website development, professional fees, and taxes, with the sole exception of $3,146 in donation processing fees not covered by donors. All other contributions were used for the exempt purpose of the organization, assisting responsible tenants stay in their apartments.

Raw XML Appendix366 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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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd138138
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd280113
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0IN ORDER TO BE ELIGIBLE FOR A GRANT FROM RESIDENT RELIEF FOUNDATION, THE APPLICANT MUST MEET CERTAIN CRITERIA AS SHOWN ON THE WEBSITE. THE FIRST CONSISTS OF CERTAIN RESIDENCY REQUIREMENTS INCLUDING LENGTH OF TENANCY, INTENT TO CONTINUE TO LEASE, LEASE VIOLATIONS AND NUMBER OF LATE PAYMENTS. IF AN APPLICANT MEETS THE RESIDENCY REQUIREMENTS, THEY THEN MUST PROVIDE DOCUMENTATION SHOWING THEIR GOOD FAITH ATTEMPTS TO RECOVER. IN OTHERWARDS, THEY ARE NOT SPENDING FRIVOLOUSLY WHILE NOT PAYING THEIR RENT. SITUATIONS INVOLVING DISQUALIFICATION AT THIS STAGE INCLUDE A PERSON WHO WAS A COMPULSIVE GAMBLER, SOMEONE WHO HAD JUST BOOKED A CRUISE, A PERSON WHO HAD JUST SPENT LARGE SUMS OF MONEY ON CONCERTS, CLOTHING AND AIRFARE, ETC. REQUIRED DUE DILIGENCE DOCUMENTS ARE: 1) LAST 2 PAYSTUBS OR BENEFIT STATEMENTS (IF ANY); 2) LAST 2 MONTHS' BANK STATEMENTS FOR ALL ACCOUNTS INCLUDING SAVINGS, CASH APP HISTORIES; PREVIOUS YEAR'S TAX RETURN OR W2; CREDIT REPORT AND OTHER SUPPORTING DOCUMENTATION AS NECESSARY (E.G. DEATH CERTIFICATE, POLICE REPORT, DISABILITY ORDERS, ETC.) THE APPLICANT MUST ALSO COMPLETE AN ONLINE FINANCIAL EDUCATION PROGRAM PROVIDED TO THEM AT OUR EXPENSE. INITIAL APPLICATIONS AND PROPERTY MANAGERS SUBMISSIONS ARE MADE ONLINE (OR IN THE RARE CIRCUMSTANCE, VIA FAX) AND INFORMATION THEREIN IS KEPT ON THE BACKEND OF THE WEBSITE'S PLATFORM (WORDPRESS). ONLY RRF STAFF AND WEB DEVELOPER HAS ACCESS TO THIS INFORMATION. DISQUALIFIED INDIVIDUALS APPLICATIONS ARE DELETED PERIODICALLY BUT NOT LESS THAN TWICE A YEAR. ONLY APPROVED APPLICANTS INFORMATION IS KEPT. ONCE PRELIMINARY RESIDENCY REQUIREMENTS ARE CONFIRMED (AS DESCRIBED ABOVE), APPLICANTS ARE SENT A SECURE UPLOAD LINK THAT CREATES A SECURE FOLDER ON DROPBOX FOR THEM TO PROVIDE THE REQUIRED DUE DILIGENCE DOCUMENTS. THAT FOLDER IS ONLY ACCESSIBLE TO RESIDENT RELIEF STAFF - THE APPLICANT ONLY HAS ACCESS TO UPLOAD DOCUMENTS, NOT REVIEW THEM AFTERWARDS. ONCE EVERYTHING IS RECEIVED AND THE FINANCIAL PROGRAM FINISHED, THE PACKAGE IS REVIEWED BY THE EXECUTIVE DIRECTOR FOR CONTENT AND QUESTIONS. IN EVERY CASE, A CALL IS SCHEDULED WITH THE APPLICANT TO GO OVER QUESTIONS AND MORE DETAIL AS NECESSARY. EVERY APPLICATION PACKAGE IS PRINTED OUT AND A CHECKLIST IS ATTACHED WITH NOTES FROM CALLS OR ADDITIONAL EMAIL INFORMATION RECEIVED FROM THE APPLICANT OR THE PROPERTY MANAGER. THE AMOUNT OF RENT OWING IS CONFIRMED BY OBTAINING A CURRENT LEDGER, LATE FEES ARE WAIVED WHENEVER POSSIBLE BY THE PROPERTY OR LANDLORD AND THE REQUEST IS WRITTEN UP IN AN EMAIL TO 3 MEMBERS OF THE BOARD (APPROVAL COMMITTEE) TO REVIEW, ASK QUESTIONS AND ULTIMATELY APPROVE OR DENY. ONCE APPROVED, THE LANDLORD IS NOTIFIED, PAYMENT INSTRUCTIONS CONFIRMED AND PAYMENT IS SENT DIRECTLY TO THE LANDLORD PER THE LEASE. THE APPLICANT IS ALSO NOTIFIED AND RECEIVES A GRANT CONFIRMATION VIA EMAIL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt03
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DIRECTOR KEITH WASSERMAN IS THE BROTHER OF DIRECTOR MELISSA WASSERMAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ACCOUNTING PERSONNEL AND INDEPENDENT CPA REVIEW AND PREPARE DRAFT 990. EXECUTIVE DIRECTOR REVIEWS AND PROVIDES ADDITIONAL INFORMATION AS APPROPRIATE. THE PRESIDENT REVIEWS AND SIGNS THE FINAL 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY WITH EACH OFFICER AND DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE ON GUIDESTAR AND UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE ON GUIDESTAR AND UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE OFFICERS OF THE GELT FOUNDATION, KEITH WASSERMAN AND DAMIAN LANGERE CONTRIBUTED $69,916 THROUGH THEIR FOR-PROFIT ORGANIZATION, GELT VENTURES, LLC TO COVER THE EXPENSES OF THE ORGANIZATION. THIS $69,916 COVERED ALL EXPENSES OF THE ORGANIZATION INCLUDING WEBSITE DEVELOPMENT, PROFESSIONAL FEES, AND TAXES, WITH THE SOLE EXCEPTION OF $3,146 IN DONATION PROCESSING FEES NOT COVERED BY DONORS. ALL OTHER CONTRIBUTIONS WERE USED FOR THE EXEMPT PURPOSE OF THE ORGANIZATION, ASSISTING RESPONSIBLE TENANTS STAY IN THEIR APARTMENTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
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 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0173496
IRS990/TotalAssetsEOYAmt0558864
IRS990/TotalAssetsGrp/BOYAmt0173496
IRS990/TotalAssetsGrp/EOYAmt0558864
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0603887
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt035375
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt029785
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0156648
IRS990/TotalFunctionalExpensesGrp/TotalAmt0221808
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0173496
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0558864
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0156648
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0603887
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt01
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0173496
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0558864
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0980
IRS990/TravelGrp/TotalAmt0980
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt018751 VENTURA BLVD 2ND FLOOR
IRS990/USAddress/CityNm0TARZANA
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd091356
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0RESIDENTRELIEFFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KEITH WASSERMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08189381687
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE GELT FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0GELT
ReturnHeader/Filer/EIN0821521845
ReturnHeader/Filer/PhoneNum08189381687
ReturnHeader/Filer/USAddress/AddressLine1Txt018751 VENTURA BLVD 2ND FLOOR
ReturnHeader/Filer/USAddress/CityNm0TARZANA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd091356
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0222428965
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CITRIN COOPERMAN & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt021650 OXNARD STREET 12TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WOODLAND HILLS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091367
ReturnHeader/PreparerPersonGrp/PhoneNum08187830570
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AARON LEVY
ReturnHeader/ReturnTs02021-11-08T11:09:16-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KEITH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WASSERMAN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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