Foundation For Sephardic Studies Inc
- Assets
- $3.9m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 15
- Location
- Brooklyn, NY
- Founding
- 06/1983
- Data as of
- 11/2023
- EIN
- 11-2553513
Organization Overview
Foundation For Sephardic Studies Inc is located in Brooklyn, NY. The organization was established in 1983. According to its NTEE Classification (X19) the organization is classified as: Support N.E.C., under the broad grouping of Religion-Related and related organizations. As of 11/2023, Foundation For Sephardic Studies Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Sephardic Studies Inc 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 11/2023, Foundation For Sephardic Studies Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $2.2m during the year ending 11/2023. While expenses have increased by 7.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FOUNDATION HAS BEEN DEDICATED TO ENHANCE AND PROMOTING THE CULTURE OF THE SEPHARDIC JEWISH COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A FULL SERVICE SYNAGOGUE AND ALL RELATED ACTIVITIES DAILY RELIGIOUS SERVIVES LECTURESRELIGIOUS EDUCATION YOUTH PROGRAMS AND ACTIVITIES HOLIDAY CELEBRATIONS ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman Mandel Operation Fin. Resource Director | OfficerTrustee | 40 | $76,667 |
Solomon Fallas President | Trustee | 5 | $0 |
Seymour Sammell Treasurer | Trustee | 5 | $0 |
Raymond Gindi Secretary/director | Trustee | 5 | $0 |
Isaac Gindi Secretary/director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $437,777 |
| Related organizations | $0 |
| Government grants | $100,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,683,911 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,221,688 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $2,221,688 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $184,858 |
| 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 | $644,893 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $52,756 |
| Office expenses | $40,430 |
| 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 | $28,105 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141,079 |
| Insurance | $38,693 |
| All other expenses | $197,586 |
| Total functional expenses | $2,162,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $347,085 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,539,473 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,863 |
| Total assets | $3,912,421 |
| Accounts payable and accrued expenses | $35,288 |
| 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 | $807,313 |
| Total liabilities | $842,601 |
| Net assets without donor restrictions | $3,069,820 |
| 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 | $3,912,421 |
Grants Awarded
Over the last fiscal year, Foundation For Sephardic Studies Inc has awarded $55,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE SEPHARDIC HERITAGE MUSEUM | | | $19,000 |
UNITED HATZALAH | | | $36,000 |