Sephardic Home For The Aged Foundation
- Assets
- $67.6m
- Revenue
- $1.6m
- Investments
- $66.6m
- Employees
- 361
- Location
- New York, NY
- Founding
- 10/1954
- Data as of
- 12/2023
- EIN
- 11-1694718
Organization Overview
Sephardic Home For The Aged Foundation, operating under the name Sephardic Skilled Nursing And Rehabilitation Center, is located in New York, NY. The organization was established in 1954. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2023, Sephardic Skilled Nursing And Rehabilitation Center employed 361 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sephardic Skilled Nursing And Rehabilitation Center 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 12/2023, Sephardic Skilled Nursing And Rehabilitation Center generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (17.9%) each year. All expenses for the organization totaled $6.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Sephardic Skilled Nursing And Rehabilitation Center has awarded 277 individual grants totaling $16,712,089. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A 271-BED NURSING HOME IN BROOKLYN, NEW YORK
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED 91,746 DAYS OF CARE/REHABILITATIVE SERVICES IN ITS NURSING FACILITY AND 10,038 ADULT DAY HEALTH CARE VISITS IN 2014.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Lopez Chair | 3 | $0 | |
Joe Halio President | 3 | $0 | |
Neil Crespi Treasurer | 3 | $0 | |
James Khani Secretary | 3 | $0 | |
Laurie Kahmi Director | 1 | $0 | |
James Caspi Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Matthew Schwartz Design Studio Llc | 12/30/20 | $100,460 |
Goldman Sachs Trust Co | 12/30/20 | $404,890 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,207 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,549,820 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $51,262 |
| Capital Gain Net Income | $51,262 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,607,289 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $360,385 |
| Other employee salaries and wages | $322,308 |
| Pension plans, employee benefits | $137,176 |
| Interest | $0 |
| Taxes | $40,793 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $87,078 |
| Printing and publications | $0 |
| Other expenses | $382,757 |
| Total operating and administrative expenses | $1,668,741 |
| Contributions, gifts, grants paid | $4,570,600 |
| Total expenses and disbursements | $6,239,341 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $219,881 |
| Savings and temporary cash investments | $636,161 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,578 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $19,930,691 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $150,166 |
| Total assets | $67,601,683 |
| Accounts payable and accrued expenses | $162,743 |
| Grants payable | $100,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $262,743 |
Grants Awarded
Over the last fiscal year, Sephardic Home For The Aged Foundation has awarded $4,570,600 in support to 81 organizations.
| Grant Recipient | Amount |
|---|---|
THE HEBREW HOME FOR THE AGED AT RIVERDALE PURPOSE: GRANT | $50,000 |
FRIENDS OF 2LIFE COMMUNITIES INC PURPOSE: GRANT | $50,000 |
DOROT INC PURPOSE: GRANT | $50,000 |
ASSOCATION OF JEWISH AGING SERVICES PURPOSE: GRANT | $50,000 |
AMERICAN FRIENDS OF MAGEN DAVID ADOM PURPOSE: GRANT | $50,000 |
GREENWOOD HOUSE HOME FOR THE JEWISH AGED PURPOSE: GRANT | $50,000 |