Iac Charitable Foundation Inc
- Assets
- $20.3m
- Revenue
- -$312.9k
- Investments
- $19.3m
- Employees
- 0
- Location
- New York, NY
- Founding
- 05/1998
- Data as of
- 12/2022
- EIN
- 13-3994361
Organization Overview
Iac Charitable Foundation Inc is located in New York, NY. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Iac Charitable Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2020, Iac Charitable Foundation Inc has awarded 167 individual grants totaling $2,253,200. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE GENERAL EXPLANATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanne Hawkins Dir, VP & Asst Secretary | 0 | $0 | |
Tanya Stanich Dir, VP & Asst Secretary | 0.5 | $0 | |
Joey Levin President | 0 | $0 | |
Nick Stoumpas Vice President &asst Treasurer | 0 | $0 | |
Suzanne Kennedy VP Philanthropic Giving | 10 | $52,192 | |
Eric Degraw Vice President, Tax | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Simpson Thacher & Bartlett Llp | 12/30/22 | $91,973 |
Capital Strategies Investment Group Llc | 12/30/22 | $61,199 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $851,527 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,164,434 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$312,907 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $52,192 |
| Other employee salaries and wages | $34,860 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,999 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $62,853 |
| Total operating and administrative expenses | $368,462 |
| Contributions, gifts, grants paid | $908,500 |
| Total expenses and disbursements | $1,276,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,017,413 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $537 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $20,345,705 |
| Accounts payable and accrued expenses | $99,199 |
| 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 | $99,199 |
Grants Awarded
Over the last fiscal year, Iac Charitable Foundation Inc has awarded $997,700 in support to 84 organizations.
| Grant Recipient | Amount |
|---|---|
FORT GREENE SOCCER CLUB INC PURPOSE: EDUCATION AND HUMAN SERVICES | $8,000 |
THE RAPE FOUNDATION PURPOSE: EDUCATIONAL OUTREACH PROGRAMS | $5,000 |
THE CARNEGIE HALL CORPORATION PURPOSE: EDUCATION IN SUPPORT OF THEIR EDUCATIONAL INITIATIVES | $30,000 |
NJ LEEP INC PURPOSE: EDUCATIONAL OUTREACH PROGRAMS | $10,000 |
NEW YORK CITY PARTNERSHIP FOUNDATION PURPOSE: GRANT FOR HUMAN SERVICES | $12,500 |
REPORTERS COMMITTEE FOR FREEDOM OF PRESS PURPOSE: EDUCATIONAL (FELLOWSHIP PROGRAM) | $15,000 |