Part I, Line 10
“The 1931 Foundation provided grants to chapters of Phi Iota Alpha, emergency relief funds to individuals impacted by a fire and health issues, awarded a STEM scholarship.”
1931 Foundation
EIN 83-1285267 • Brooklyn, NY
Pub. 78 Eligible990-N CoverageNTEE P80
Profile
The primary exempt purpose of The 1931 Foundation is to foster academic excellence, civic engagement, and leadership development among undergraduate students. The Foundation achieves this by providing merit and need-based scholarships directly to individuals, and by awarding educational grants to exempt organizations and institutions that facilitate leadership training, cultural awareness, and community service initiatives.
Siviq Scores
Scores are not available for this record yet.
Balance Sheet
Assets
Up$56,920
Up $8,835 (+18%) from 2024
Liabilities
Flat$0
Flat from 2024
Net Assets
Up$56,920
Up $8,835 (+18%) from 2024
Operations
Revenue
Up$68,978
Up $8,232 (+14%) from 2024
Expenses
Up$60,143
Up $15,172 (+34%) from 2024
Net Income
Down$8,835
Down $6,940 (-44%) from 2024
Trend Graphs
Filings
Most recent year
2025 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $56,920
- Liabilities
- $0
- Net assets
- $56,920
- Revenue
- $68,978
- Expenses
- $60,143
- Net income
- $8,835
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2025 to Dec 31, 2025
- Signed
- May 30, 2026
- Return Version
- 2025v4.0
- Gross Receipts
- $68,978
Mission and Program Overview
Mission
The primary exempt purpose of The 1931 Foundation is to foster academic excellence, civic engagement, and leadership development among undergraduate students. The Foundation achieves this by providing merit and need-based scholarships directly to individuals, and by awarding educational grants to exempt organizations and institutions that facilitate leadership training, cultural awareness, and community service initiatives.
The 1931 Foundation is dedicated to supporting the Hispanic community via educational scholarships, financial aid for emergency needs, and support for community organizations.
Program Services
| Description | Grants | Expenses |
|---|---|---|
| Annual Golf Outing raising funds for pancreatic research with donations to Lustgarten Foundation and families with children affected by sudden loss of parent via the 1931 Omega Fund. | $12,207 | $22,474 |
| Grant to National Hispanic Institute for development of young latino students | $6,800 | $6,800 |
| FIA Merit scholarships to campus leaders | $2,000 | $2,000 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Francisco Lugo | Secretary | - | $0 | - | - |
| Adam Ortiz | Trustee | - | $0 | - | - |
| Chris Gale | Trustee | - | $0 | - | - |
| Carlos Famadas | Chairman | - | $0 | - | - |
| Dennis Camacho | Treasurer | - | $0 | - | - |
| Jaosn Nicolau | Trustee | - | $0 | - | - |
| Raul de la Rosa | Trustee | - | $0 | - | - |
Filing and Contact Details
Filer
- Filer Name
- 1931 Foundation
- EIN
- 83-1285267
- Phone
- 4438030150
- Address
- 9322 3rd Avenue Ste 412, Brooklyn, NY 11209
Signing Officer
- Name
- Carlos Famadas
- Title
- Chairman
- Phone
- 4438030150
- Signed
- 2026-05-30
Supplemental Narrative
Additional Explanations
Part I, Line 16
“The 1931 Foundation incurred a total of $22,952 in "Other Expenses" during the tax year. These costs were necessary to execute our core educational, cultural, and leadership initiatives, as well as to maintain compliant operational governance. There were administrative expenses to cover educational events, program materials, software fees, bank fees and government filings.”
Part II, Line 24
“Change in net assets is due to increased fundraising and timing of program disbursements.”
Part II, Line 26
“As of the close of the tax year, the organization carried no outstanding vendor payables, short-term or long-term debt obligations, deferred revenue, or other liabilities. The reported balance of $0 accurately reflects that all program and administrative obligations incurred during the fiscal period were fully liquidated prior to the period-end close.”
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | The 1931 Foundation provided grants to chapters of Phi Iota Alpha, emergency relief funds to individuals impacted by a fire and health issues, awarded a STEM scholarship. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | The 1931 Foundation incurred a total of $22,952 in "Other Expenses" during the tax year. These costs were necessary to execute our core educational, cultural, and leadership initiatives, as well as to maintain compliant operational governance. There were administrative expenses to cover educational events, program materials, software fees, bank fees and government filings. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Change in net assets is due to increased fundraising and timing of program disbursements. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | As of the close of the tax year, the organization carried no outstanding vendor payables, short-term or long-term debt obligations, deferred revenue, or other liabilities. The reported balance of $0 accurately reflects that all program and administrative obligations incurred during the fiscal period were fully liquidated prior to the period-end close. |
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| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Part II, Line 26 |
| ReasonableCauseExplanation/ExplanationTxt | 0 | The delay in filing our Form 990 was due to unexpected administrative challenges with a lean staff and reconciling donations and financials. The organization acted in good faith to ensure compliance and complete transparency. |
| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Carlos Famadas |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | Chairman |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 4438030150 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2026-05-30 |
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| ReturnHeader/Filer/EIN | 0 | 831285267 |
| ReturnHeader/Filer/PhoneNum | 0 | 4438030150 |
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| ReturnHeader/Filer/USAddress/CityNm | 0 | Brooklyn |
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| ReturnHeader/ReturnTs | 0 | 2026-05-30T15:40:11Z |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2025-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2025-12-31 |
| ReturnHeader/TaxYr | 0 | 2025 |
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