Israel Tennis Centers Foundation Inc
- Assets
- $25.3m
- Revenue
- $11.8m
- Investments
- $6.6m
- Employees
- 12
- Location
- New York, NY
- Founding
- 12/1978
- Data as of
- 12/2023
- EIN
- 13-2961273
Organization Overview
Israel Tennis Centers Foundation Inc, operating under the name Israel Tennis & Education Center, is located in New York, NY. The organization was established in 1978. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Israel Tennis & Education Center employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Israel Tennis & Education 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, Israel Tennis & Education Center generated $11.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $7.3m during the year ending 12/2023. While expenses have increased by 5.0% per year over the past 9 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
ISRAEL TENNIS & EDUCATION CENTERS FOUNDATION TRANSFORMS THE LIVES OF VULNERABLE CHILDREN IN ISRAEL, CREATING OPPORTUNITIES FOR A BRIGHTER FUTURE. WE OFFER MUCH NEEDED SUPPORT TO 20,000 CHILDREN ANNUALLY, OF ALL FAITHS, MANY LIVING ON OR BELOW THE POVERTY LEVEL, BY EDUCATING AND EMPOWERING THEM THROUGH ACADEMIC ENRICHMENT, SPORTS AND MENTORING, IGNITING HOPE AND OPENING PATHWAYS TO A SUCCESSFUL FUTURE FOR THEM AND FOR ISRAEL. OUR 15 CENTERS THROUGHOUT ISRAEL ARE INTENTIONALLY LOCATED IN UNDERPRIVILEGED NEIGHBORHOODS. ITEC TRULY EMBODIES INCLUSION AND UNITY IN A REGION WHERE THIS MODEL OF ETHNIC INTEGRATION IS RARE. IN THESE SAFE AND NURTURING ENVIRONMENTS, EACH AND EVERY CHILD IS OFFERED AN EQUAL OPPORTUNITY TO PLAY, DREAM, LEARN AND MAKE FRIENDS WITHIN A PEACEFUL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ITEC HAS MADE AN OUTSIZED IMPACT ON THE COUNTRY, THE COMMUNITIES SURROUNDING EACH OF THE CENTERS, THE TEACHERS, THE COACHES, AND THE FAMILIES OF OVER HALF A MILLION CHILDREN.THE MOST SIGNIFICANT PROGRAM ACCOMPLISHMENTS SUPPORTED AT THE ISRAEL TENNIS AND EDUCATIONS CENTERS INCLUDE RESOURCES SENT TO ISRAEL TO PROVIDE SCHOLARSHIPS TO UNDERSERVED, UNDERPRIVILEDGED AND AT RISK YOUTH TO PARTICIPATE IN SOCIAL IMPACT PROGRAMS AND AFTER SCHOOL SPORTS PROGRAMS THAT UTILIZE TENNIS AND EDUCATIONAL ENRICHMENT TO TEACH LIFE SKILLS, DEVELOP THE CHILDREN'S CHARACTER AND GRADUATE HIGH SCHOOL, SERVE IN THE IDF AND THEN ACQUIRE THEIR UNIVERSITY EDUCATION AND/OR DEVELOP A PROFESSION. THE FOUNDATION SUPPORTS PROGRAMS FOR YOUTH INCLUDING COEXXISTENCE, SPECIAL NEEDS, ENGLISH LANGUAGE FLUENCY, OBESITY PREVENTION FOR CHILDREN, GIRLS EMPOWERMENT AND JUNIOR TENNIS DEVELOPMENT. SUPPORT ALSO MAINTAINS THE INTEGRITY AND SAFETY OF THE CENTERS' PHYSICAL PLANTS. THE FOUNDATION ALSO WORKS CLOSELY WITH THE ITEC IN DEVELOPING PROGRAMS IN ISRAEL, EDUCATING BOTH IN ISRAEL AND IN THE U.S. ABOUT THE PROGRAMS, AS WELL AS REPLICATING THE ITEC MODEL PROGRAMS IN OTHER U.S. INSTITUTIONS. THE FOUNDATION ALSO EXPANDS AWARENESS OF ITEC PROGRAMS TO INCREASE INVOLVEMENT AND SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James E Frank Director/board Member | OfficerTrustee | 2 | $0 |
Pamela Berkowsky Director/board Member | Trustee | 2 | $0 |
Andrea Kraus Director/board Member | Trustee | 2 | $0 |
Benjamin Beiler Director/board Member | Trustee | 2 | $0 |
Lisa Bogatin Director/board Member | Trustee | 2 | $0 |
Burton S Ury Director/board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,108,299 |
| Noncash contributions included in lines 1a–1f | $341,417 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,108,299 |
| Total Program Service Revenue | $0 |
| Investment income | $416,650 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $275,664 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,800,613 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $3,554,248 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $560,390 |
| Compensation of current officers, directors, key employees. | $90,814 |
| Compensation to disqualified persons | $820,276 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $47,064 |
| Other employee benefits | $30,560 |
| Payroll taxes | $82,174 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,705 |
| Fees for services: Accounting | $49,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,521 |
| Fees for services: Other | $20,733 |
| Advertising and promotion | $272,316 |
| Office expenses | $87,486 |
| Information technology | $12,167 |
| Royalties | $0 |
| Occupancy | $75,097 |
| Travel | $317,148 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,100 |
| Interest | $66,257 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,949 |
| Insurance | $14,845 |
| All other expenses | $22,692 |
| Total functional expenses | $7,271,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,632,548 |
| Savings and temporary cash investments | $4,729 |
| Pledges and grants receivable | $3,489,656 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $461,598 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,978 |
| Net Land, buildings, and equipment | $24,359 |
| Investments—publicly traded securities | $10,808,193 |
| Investments—other securities | $6,563,434 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $350,125 |
| Total assets | $25,340,620 |
| Accounts payable and accrued expenses | $136,631 |
| 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 | $468,484 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $388,720 |
| Total liabilities | $993,835 |
| Net assets without donor restrictions | $8,838,823 |
| Net assets with donor restrictions | $15,507,962 |
| 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 | $25,340,620 |