Qualitas Of Life Foundation
- Assets
- $483.8k
- Revenue
- $488.3k
- Investments
- $0.0
- Employees
- 16
- Location
- New York, NY
- Founding
- 10/2008
- Data as of
- 12/2021
- EIN
- 06-1833489
Organization Overview
Qualitas Of Life Foundation is located in New York, NY. The organization was established in 2008. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2021, Qualitas Of Life Foundation employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Qualitas Of Life Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Qualitas Of Life Foundation generated $488.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $564.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Qualitas Of Life Foundation has awarded 18 individual grants totaling $450,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
QUALITAS OF LIFE FOUNDATION IS A NON-PROFIT ORGANIZATION THAT PROVIDES BASIC FINANCIAL EDUCATION TO HISPANIC INDIVIDUALS AND THEIR FAMILIES, IN ORDER TO FOSTER THEIR FINANCIAL SECURITY AND IMPROVE THEIR STANDARD OF LIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HELPS HISPANIC INDIVIDUALS AND FAMILIES IN PROVIDING INSTRUCTION AND EDUCATIONAL WORKSHOPS ON PERSONAL FINANCES AND HOW TO ACCESS DIFFERENT FINANCIAL INSTITUTIONS. THROUGH THESE WORKSHOPS, PARTICIPANTS ARE ABLE TO USE THE AVAILABLE RESOURCES TO IMPROVE THEIR PERSONAL FINANCES AND PROVIDE MORE OPPORTUNITIES FOR THEIR FAMILIES. WHAT MAKES THE PROGRAM UNIQUE IS THE WAY IN WHICH TRUST-BUILDING, SELF-EMPOWERMENT AND COMMUNITY-BUILDING ELEMENTS HAVE BEEN STRATEGICALLY EMBEDDED INTO THE CURRICULUM. THE MAIN OBJECTIVE OF THE ORGANIZATION IS FOR EACH STUDENT TO UNDERSTAND THEIR FINANCIAL SITUATION, ESTABLISH A CLEAR FINANCIAL GOAL AND ACQUIRE THE KNOWLEDGE AND DEVELOP THE SKILLS AND HABITS REQUIRED TO ACHIEVE IT.
IN RESPONSE TO THE ECONOMIC CRISIS CAUSED BY THE CORONAVIRUS PANDEMIC, THE ORGANIZATION, AS THE RECIPIENT OF FINANCIAL SUPPORT, LAUNCHED ITS MIGRANT RELIEF PROGRAM AIMED TO EASE THE IMMEDIATE BURDEN OF INCOME LOSS OF HISPANIC FAMILIES DURING THE PANDEMIC. BETWEEN APRIL 2020 AND MAY 2021, THE ORGANIZATION DISTRIBUTED $556,000 TO MORE THAN 2,763 HISPANIC FAMILIES IN THE NEW YORK, NEW JERSEY, AND CONNECTICUT REGIONS IN THE FORM OF GIFT CARDS AND FOOD BASKETS TO COVER THEIR BASIC NEEDS. THE PROGRAM HAS INDIRECTLY IMPACTED 12,000 INDIVIDUALS. THE ORGANIZATION HAS COLLABORATED WITH 13 PARTNER ORGANIZATIONS AND OTHER VOLUNTEER GROUPS TO ASSIST IN DISTRIBUTING THE GIFT CARDS AND FOOD BASKETS ACROSS THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leigh Rovzar Chairman | OfficerTrustee | 1 | $0 |
Gregorio Schneider Treasurer | OfficerTrustee | 1 | $0 |
Ivana Estrada Secretary | OfficerTrustee | 1 | $0 |
Gina Diez Barroso DE Franklin Director | Trustee | 0.25 | $0 |
Russell G Byres Jr Director | Trustee | 0.25 | $0 |
Jorge Suarez-Velez Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $61,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $426,773 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $488,173 |
| Total Program Service Revenue | $0 |
| Investment income | $106 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $488,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,000 |
| Grants and other assistance to domestic individuals. | $30,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $273,312 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $23,180 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $250 |
| Fees for services: Accounting | $22,966 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $122,239 |
| Advertising and promotion | $90 |
| Office expenses | $9,562 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,214 |
| All other expenses | $1,148 |
| Total functional expenses | $564,186 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,607 |
| Savings and temporary cash investments | $360,798 |
| Pledges and grants receivable | $44,591 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,771 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $483,767 |
| Accounts payable and accrued expenses | $34,202 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $34,202 |
| Net assets without donor restrictions | $449,565 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $483,767 |
Grants Awarded
Over the last fiscal year, Qualitas Of Life Foundation has awarded $60,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Staten Island, NY PURPOSE: COVID-19 RELIEF EFFORTS | $15,000 |
NEW YORK STATE FEDERATION OF GROWERS' & PROCESSORS' AGRI-BUSINESS CHILD DEV Org PageRecipient ProfileSchenectady, NY PURPOSE: COVID-19 RELIEF EFFORTS | $15,000 |
Bronx, NY PURPOSE: COVID-19 RELIEF EFFORTS | $15,000 |
Jackson Heights, NY PURPOSE: COVID-19 RELIEF EFFORTS | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Qualitas Of Life Foundation has recieved totaling $127,364.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $48,326 |
Moneygram Foundation Inc Dallas, TX PURPOSE: THIS GRANT WILL FUND THIS ORGANIZATION'S FINANCIAL LITERACY PROGRAM. | $40,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $23,686 |
R K Mellon Family Foundation Pittsburgh, PA PURPOSE: OPERATIONS | $5,000 |
Hyde And Watson Foundation Warren Township, NJ PURPOSE: PURCHASE OF COMPUTER EQUIPMENT. | $5,000 |
R K Mellon Family Foundation Pittsburgh, PA PURPOSE: OPERATIONS | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Garden State Consumer Credit Counseling Inc Manalapan, NJ | $15,368,790 | $14,807,314 |
American Consumer Credit Counseling Inc Auburndale, MA | $18,184,034 | $13,306,197 |
Cambridge Credit Counseling Corp Agawam, MA | $10,545,696 | $7,101,425 |
Consumer Credit Counseling Service Of Delaware Valley Philadelphia, PA | $4,817,961 | $4,855,910 |
Hebrew Free Loan Society Inc New York, NY | $39,139,675 | $5,814,730 |
Consumer Credit And Budget Counseling Inc Marmora, NJ | $1,261,705 | $3,720,720 |
Consumers Credit Counseling Service Of Rochester Inc Rochester, NY | $7,908,723 | $3,468,563 |
Start Small Think Big Inc New York, NY | $5,478,531 | $5,454,234 |
Money Management New York, NY | $8,835,712 | $4,309,180 |
Advantage Credit Counseling Service Inc Pittsburgh, PA | $1,986,787 | $1,981,242 |
Intl Federation Of Red Cross And Red Crescent Soc At The U N Inc New York, NY | $144,561 | $1,804,361 |
Parachute Credit Counseling Inc West Seneca, NY | $1,575,678 | $1,698,417 |