Sephardic Home For The Aged Foundation
- Assets
- $80.9m
- Revenue
- $6.9m
- Investments
- $80.5m
- Employees
- 361
- Location
- New York, NY
- Founding
- 10/1954
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Sephardic Skilled Nursing And Rehabilitation Center generated $6.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (17.7%) each year. All expenses for the organization totaled $5.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Sephardic Skilled Nursing And Rehabilitation Center has awarded 127 individual grants totaling $7,857,800. 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
2021
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 |
|---|---|---|---|
Joshua Hoffman Executive Dir. | 40 | $303,880 | |
Janice Stolar Dir-Grants | 40 | $167,286 | |
Elisabeth Stevens Grants Coord. | 40 | $84,466 | |
Louis Rousso Chairman | 3 | $0 | |
Joe Halio Secretary | 1 | $0 | |
Michael Lopez President | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs Trust Co | 12/30/20 | $404,890 |
Matthew Schwartz Design Studio Llc | 12/30/20 | $100,460 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $29,085 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,611,658 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,245,620 |
| Capital Gain Net Income | $4,245,620 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,456 |
| Total Revenue | $6,891,819 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $311,250 |
| Other employee salaries and wages | $249,947 |
| Pension plans, employee benefits | $120,442 |
| Interest | $0 |
| Taxes | $31,773 |
| Depreciation | $0 |
| Occupancy | $3,538 |
| Travel, conferences, and meetings | $1,346 |
| Printing and publications | $0 |
| Other expenses | $142,645 |
| Total operating and administrative expenses | $1,244,359 |
| Contributions, gifts, grants paid | $4,318,548 |
| Total expenses and disbursements | $5,562,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $194,027 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $4,000 |
| 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 | $25,407 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $12,489,134 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $169,248 |
| Total assets | $80,900,595 |
| Accounts payable and accrued expenses | $151,779 |
| Grants payable | $22,500 |
| 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 | $174,279 |
Grants Awarded
Over the last fiscal year, Sephardic Home For The Aged Foundation has awarded $4,516,048 in support to 54 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATION OF JEWISH AGING SERVICE PURPOSE: GRANT | $714,000 |
THE JEWISH AGENCY FOR ISRAEL NORTH PURPOSE: GRANT | $475,000 |
STRUGGLE TO SAVE ETHIOPIAN JEWRY IN PURPOSE: GRANT | $245,000 |
JEWISH HOME FOUNDATION OF NJ PURPOSE: GRANT | $200,000 |
Brooklyn, NY PURPOSE: GRANT | $167,331 |
KAVOD PURPOSE: GRANT | $150,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sephardic Home For The Aged Foundation has recieved totaling $5,384,930.
| Awarding Organization | Amount |
|---|---|
Sephardic Geriatric Foundation Of New York Inc New York, NY PURPOSE: SUPPORT SENIOR HEALTHCARE | $5,384,930 |
Endowment Analysis
| Beg. Balance | $580,543 |
| Earnings | $2,613 |
| Other Expense | $2,613 |
| Ending Balance | $580,543 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Germantown Home Philadelphia, PA | $23,238,200 | $17,117,508 |
Our Lady Of Mercy Life Center Guilderland, NY | $13,584,598 | $18,367,817 |
Grove Manor Corporation Grove City, PA | $38,510,469 | $20,011,663 |
Phoebe Richland Health Care Center Allentown, PA | $42,688,223 | $20,669,291 |
Episcopal Church Home Rochester, NY | $13,527,861 | $19,691,308 |
Jerome Home New Britain, CT | $48,789,319 | $20,665,795 |
Northern Riverview Health Care Center Inc Haverstraw, NY | $45,238,260 | $26,935,593 |
Hatfield Mennonite Home Hatfield, PA | $33,080,459 | $18,750,870 |
Harrogate Incorporated Lakewood, NJ | $32,163,275 | $19,988,142 |
Hartford Healthcare Senior Services Inc Southington, CT | $12,831,492 | $19,135,049 |
Upmc Senior Communities Inc Pittsburgh, PA | $51,351,268 | $15,897,912 |
Sancta Maria Hospital Inc Cambridge, MA | $13,379,859 | $18,950,090 |