Chesed Foundation Of America
- Assets
- $252.9m
- Revenue
- $8.7m
- Investments
- $248.4m
- Employees
- 0
- Location
- New York, NY
- Founding
- 01/1998
- Data as of
- 06/2023
- EIN
- 13-3922068
Organization Overview
Chesed Foundation Of America is located in New York, NY. The organization was established in 1998. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chesed Foundation Of America 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 06/2023, Chesed Foundation Of America generated $8.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 51.0% each year . All expenses for the organization totaled $18.1m during the year ending 06/2023. While expenses have increased by 55.8% per year over the past 4 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Karfunkel President | 0 | $0 | |
Rene Karfunkel Vice President | 0 | $0 | |
Bernard Karfunkel Trustee | 0 | $0 | |
Henry Reinhold Vice President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $8,681,126 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$28,316 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $8,652,812 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,500 |
| Total operating and administrative expenses | $26,500 |
| Contributions, gifts, grants paid | $18,039,770 |
| Total expenses and disbursements | $18,066,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,404,071 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $37,197,402 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $252,850,136 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Chesed Foundation Of America has awarded $18,039,770 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SEE ATTACHED SCHEDULE PURPOSE: AMOUNTS ARE GIVEN TO COVER OPERATING EXPENSES FOR SCHOOLS AND SYNAGOGUES AS WELL AS EDUCATIONAL SCHOLARSHIPS AND ASSISTANCE TO THE NEEDY. | $4,539,770 |
CONGREGATION CHEMDAS YISROEL INC PURPOSE: AMOUNTS ARE GIVEN TO COVER OPERATING EXPENSES FOR SCHOOLS AND SYNAGOGUES AS WELL AS EDUCATIONAL SCHOLARSHIPS AND ASSISTANCE TO THE NEEDY. | $13,500,000 |