Civic Intelligence

Hanyc Foundation Inc.

990 • Fiscal year 2020 • EIN 83-3283722

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

34 East 51st Street 8th FloorNew York, NY 10022

(212) 754-6700

Siviq Scores

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

Liabilities / Assets

74th percentile

0.08x

Higher debt load relative to assets than 74% of similar nonprofits.

2020 filings • NTEE M • <$500k nonprofits • Source year 2020

Liabilities / Revenue

88th percentile

0.79x

Higher debt load relative to revenue than 88% of similar nonprofits.

2020 filings • NTEE M • <$500k nonprofits • Source year 2020

Net Margin

1st percentile

-489%

Higher net margin than 1% of similar nonprofits.

2020 filings • NTEE M • <$500k nonprofits • Source year 2020

Top Officer Pay

100th percentile

$629,952

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 5665.0% of source-year revenue.

2020 filings • NTEE M • <$500k nonprofits • Source year 2020

Asset Growth

6th percentile

-30%

Faster asset growth than 6% of similar nonprofits.

2020 filings • NTEE M • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

2nd percentile

-95%

Faster revenue growth than 2% of similar nonprofits.

2020 filings • NTEE M • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Down

$111,428

Down $46,764 (-30%) from 2019

Net Assets

Down

$102,691

Down $54,368 (-35%) from 2019

Liabilities

Up

$8,737

Up $7,604 (+671%) from 2019

Revenue

Down

$11,120

Down $200,560 (-95%) from 2019

Expenses

Up

$65,488

Up $10,867 (+20%) from 2019

Net Income

Down

-$54,368

Down $211,427 (-135%) from 2019

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2019: $158,192Liabilities 2019: $1,133Net Assets 2019: $157,0592019Assets 2020: $111,428Liabilities 2020: $8,737Net Assets 2020: $102,6912020Assets 2021: $92,920Liabilities 2021: $32,700Net Assets 2021: $60,2202021Assets 2022: $358,613Liabilities 2022: $49,219Net Assets 2022: $309,3942022Assets 2023: $1,462,396Liabilities 2023: $211,475Net Assets 2023: $1,250,9212023Assets 2024: $12,196,072Liabilities 2024: $9,869,713Net Assets 2024: $2,326,3592024

Highlighted filing

2020

Assets$111,428
Liabilities$8,737
Net Assets$102,691

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $211,680Expenses 2019: $54,621Net Income 2019: $157,0592019Revenue 2020: $11,120Expenses 2020: $65,488Net Income 2020: -$54,3682020Revenue 2021: $19,500Expenses 2021: $61,971Net Income 2021: -$42,4712021Revenue 2022: $385,292Expenses 2022: $136,118Net Income 2022: $249,1742022Revenue 2023: $1,599,624Expenses 2023: $667,289Net Income 2023: $932,3352023Revenue 2024: $2,066,132Expenses 2024: $972,780Net Income 2024: $1,093,3522024

Highlighted filing

2020

Revenue$11,120
Expenses$65,488
Net Income-$54,368
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$11,120
Mission and Program Overview

Mission

The HANYC Foundation, Inc. (the Foundation) was organized on January 22, 2019 by the directors of the Hotel Association of New York City, Inc. (the Association) and is a nonprofitorganization exempt from Federal income tax under Section 501(c)(3) of the Internal RevenueCode. The mission of the Foundation is to leverage the talents and resources of all the Associations member hotels and partners in the greater New York City market to focus the philanthropic outreach efforts toward education and crisis relief within the community. To this end the Foundation provides scholarships for students pursuing an associates or bachelors degree in hotel management, human trafficking training for Association members and their staff and hotel stays to individuals and families during unanticipated hardship and crisis.

The Foundation focuses on three areas:1.Education, by providing scholarships to students who will pursue an associate's or bachelor's degree program in Hospitality2. Crisis relief, by providing short-term hotel stays to individuals experiencing unexpected hardships and3. Efforts to combat Human Trafficking, by providing training to the hotel industry. This will include partnering with individuals and other organizations in order to provide an overview of sex and labor trafficking and their impact on the hotel industry, to discuss common indicators of human trafficking and case examples, to give action steps on how to respond to and prevent human trafficking.The Foundation will organize fundraising events such as an annual Golf Outing and an annual Red Carpet Hospitality Gala, where all proceeds beyond expenses will go directly to the Foundation. We will also organize educational and similar seminars focused on our efforts related to Human Trafficking.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$104,960$106,428▲ $1,468
Accounts Receivable$53,232$0▼ $53,232
Savings and Temporary Cash Investments-$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-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$158,192$111,428▼ $46,764
Other Assets Total-$5,000-
Liabilities
Grants Payable-$7,500-
Accounts Payable and Accrued Expenses$1,133$1,237▲ $104
Total Liabilities$1,133$8,737▲ $7,604
Net Assets / Fund Balance
Net Assets With Donor Restrictions$148,580$118,185▼ $30,395
Net Assets Without Donor Restrictions$8,479$-15,494▼ $23,973
Total Net Assets Fund Balance$157,059$102,691▼ $54,368
Total Liabilities and Net Assets / Fund Balance$158,192$111,428▼ $46,764
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$11,120
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$11,120
Change in Net Assets
$-54,368

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,120
Total Revenue per Audited Statements
$11,120
Total Revenue per Form 990
$11,120
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$40,600
Other Expenses$24,888
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$30,600--$30,600
Fees for Services Accounting-$16,000-$16,000
Grants to Domestic Orgs$10,000--$10,000
Fees for Services Management-$5,000-$5,000
Other Expenses$3,100--$3,100
Office Expenses-$788-$788
Total Functional Expenses$43,700$21,788$0$65,488

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$65,488
Total Expenses per Audited Statements$65,488
Total Expenses per Form 990$65,488
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Jackie Robinson Foundationnew york, NY501(c)(3)-$10,000
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

After the controller reviews the form 990, it is made available to the executive committee, and the president will then approve the tax return.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Officers, directors, and employees are required to disclose to the board any transaction that could potentially create a conflict of interest. The board will determine whether an actual conflict of interest exists and take action that the board deems appropriate. The interested person must recuse themselves from voting on the matter. Discussions concerning conflicts of interest are documented in the board minutes.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The organization makes its governing documents, conflict of interest policy, form 990 and financial statements available to the public upon request. Form 990 is also available on guidestar.org.

Filing and Contact Details

Filer

Filer Name
Hanyc Foundation Inc
EIN
83-3283722
Phone
2127546700
Address
34 EAST 51ST STREET 8TH FLOOR, NEW YORK, NY 10022

Signing Officer

Name
Albert Fernandez
Title
CFO/Controller
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vijay Dandapani
Formed
2019
Legal Domicile
Ny
Voting Board Members
14
Independent Board Members
13
Employees
0

Preparer

Firm
Davis Ward & Hochman LLP
Address
150 E 58th St 20TH Flr, New York, NY 10155
Preparer
David H Ward
Phone
2122302600
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of independent accountant.

Financial Statement Notes

Part X : FIN48 Footnote

U.s. Gaap requires evaluation of tax positions taken by the association and recognition of a liability in the financial statements if the association has taken uncertain tax positions that more likely than-not would not be sustained upon examination by the taxing authorities. As of december 31, 2020, the association has determined that it has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.

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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0The HANYC Foundation, Inc. (the Foundation) was organized on January 22, 2019 by the directors of the Hotel Association of New York City, Inc. (the Association) and is a nonprofitorganization exempt from Federal income tax under Section 501(c)(3) of the Internal RevenueCode. The mission of the Foundation is to leverage the talents and resources of all the Associations member hotels and partners in the greater New York City market to focus the philanthropic outreach efforts toward education and crisis relief within the community. To this end the Foundation provides scholarships for students pursuing an associates or bachelors degree in hotel management, human trafficking training for Association members and their staff and hotel stays to individuals and families during unanticipated hardship and crisis.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt0102691
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt08479
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-15494
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0788
IRS990/OfficeExpensesGrp/TotalAmt0788
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt05000
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0COMMUNITY OUTREACH
IRS990/OtherExpensesGrp/ProgramServicesAmt03100
IRS990/OtherExpensesGrp/TotalAmt03100
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Vijay Dandapani
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0133844
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt029350
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IRS990/PYOtherExpensesAmt025271
IRS990/PYOtherRevenueAmt077836
IRS990/PYRevenuesLessExpensesAmt0157059
IRS990/PYTotalExpensesAmt054621
IRS990/PYTotalRevenueAmt0211680
IRS990/QuidProQuoContributionsInd0false
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IRS990/ReconcilationRevenueExpnssAmt0-54368
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
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IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0133844
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0144964
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0305000
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0305000
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt011120
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0438844
IRS990ScheduleA/Total509Grp/TotalAmt0449964
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt011120
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0438844
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0449964
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IRS990ScheduleD/ExpensesSubtotalAmt065488
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueSubtotalAmt011120
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0U.S. GAAP REQUIRES EVALUATION OF TAX POSITIONS TAKEN BY THE ASSOCIATION AND RECOGNITION OF A LIABILITY IN THE FINANCIAL STATEMENTS IF THE ASSOCIATION HAS TAKEN UNCERTAIN TAX POSITIONS THAT MORE LIKELY THAN-NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. AS OF DECEMBER 31, 2020, THE ASSOCIATION HAS DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalExpensesPerForm990Amt065488
IRS990ScheduleD/TotalRevenuePerForm990Amt011120
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt011120
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt065488
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt030600
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt025
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0JACKIE ROBINSON FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientEIN0132896345
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt075 varick street 2nd floor
IRS990ScheduleI/RecipientTable/USAddress/CityNm0new york
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd010013
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAINTAINS RECORDS TO SUBSTANTIATE THE GRANTEE'S USE OF FUNDS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
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IRS990ScheduleI/TotalOtherOrgCnt00
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0612852
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt017100
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Vijay Dandapani
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0629952
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AFTER THE CONTROLLER REVIEWS THE FORM 990, IT IS MADE AVAILABLE TO THE EXECUTIVE COMMITTEE, AND THE PRESIDENT WILL THEN APPROVE THE TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS, DIRECTORS, AND EMPLOYEES ARE REQUIRED TO DISCLOSE TO THE BOARD ANY TRANSACTION THAT COULD POTENTIALLY CREATE A CONFLICT OF INTEREST. THE BOARD WILL DETERMINE WHETHER AN ACTUAL CONFLICT OF INTEREST EXISTS AND TAKE ACTION THAT THE BOARD DEEMS APPROPRIATE. THE INTERESTED PERSON MUST RECUSE THEMSELVES FROM VOTING ON THE MATTER. DISCUSSIONS CONCERNING CONFLICTS OF INTEREST ARE DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 IS ALSO AVAILABLE ON GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF INDEPENDENT ACCOUNTANT.
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/FormAndLineReferenceDesc3Form 990, Part XII, Line 2: Change of Oversight or Selection Process
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A

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