Adath Israel Capital Fund
- Assets
- $1.3m
- Revenue
- $33.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Lawrenceville, NJ
- Founding
- 04/1984
- Data as of
- 06/2024
- EIN
- 22-2401420
Organization Overview
Adath Israel Capital Fund is located in Lawrenceville, NJ. The organization was established in 1984. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Adath Israel Capital Fund 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 06/2024, Adath Israel Capital Fund generated $33.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (23.2%) each year. All expenses for the organization totaled $21.0k during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE ADATH ISRAEL CAPITAL FUND SERVES EXCLUSIVELY TO ASSIST ADATH ISRAEL CONGREGATION OF LAWRENCEVILLE, NJ IN MEETING ITS FINANCIAL NEEDS RELATED TO THE PHYSICAL PLANT AND BUILDINGS. THIS IS DONE USING INCOME FROM INVESTMENTS FOLLOWING AN INVESTMENT POLICY AND GUIDED BY TRUST DOCUMENT. THE CAPITAL FUND MAINTAINS NO EMPLOYEES OR CONTRACTORS AND STRIVES TO AVOID ALL EXPENSES IN ORDER TO MAXIMIZE ITS BENEFIT. SINCE THE TRUST-MANDATED FLOOR FOR DISBURSEMENTS WAS REACHED, THE ADATH ISRAEL CAPITAL FUND HAS CONTRIBUTED MORE THAN $250,000 TO ADATH ISRAEL CONGREGATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED A MORTGAGE GUARANTEE FOR ADATH ISRAEL CONGREGATION'S MORTGAGE RENEWAL
THE ADATH ISRAEL CAPITAL FUND MAINTAINED A LINE OF CREDIT OF $105,000 TO ADATH ISRAEL CONGREGATION THAT COULD BE DRAWN ON BY ADATH ISRAEL CONGREGATION TO ADDRESS A SHORT-TERM CASH SHORTFALL. ADATH ISRAEL CONGREGATION REPAID $25,000 THAT HAD BEEN DRAWN FROM THE LINE OF CREDIT IN JUNE 2022, PRIOR TO THE CURRENT TAX YEAR. ADATH ISRAEL CONGREGATION DID NOT DRAW ON THE LINE OF CREDIT IN THE FISCAL YEARS JULY 1, 2022 - JUNE 30, 2023 OR JULY 1, 2023 - JUNE 30, 2024.
IN FISCAL YEAR JULY 1, 2023 TO JUNE 30, 2024, THE CAPITAL FUND AWARDED A GRANT OF $21,000 TO ADATH ISRAEL CONGREGATION IN SUPPORT OF CAPITAL-RELATED ITEMS AS PER THE CAPITAL FUND TRUST AGREEMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Goldfus Trustee | Trustee | 0.25 | $0 |
Cheryl Gorski Trustee | Trustee | 0.25 | $0 |
Abraham Abramovich Trustee | Trustee | 0.25 | $0 |
Daniel Brucker Trustee | Trustee | 0.25 | $0 |
David Shaw President | Officer | 1 | $0 |
Scott Berger Treasurer | Officer | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $33,795 |
| 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 | $33,795 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $21,000 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $21,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $213,901 |
| 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 | $0 |
| Investments—publicly traded securities | $1,041,990 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,255,891 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,255,891 |
| 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 | $1,255,891 |
Grants Awarded
Over the last fiscal year, Adath Israel Capital Fund has awarded $26,191 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ADATH ISRAEL CONGREGATION PURPOSE: Cover various listed and documented capital improvements and maintenance expenses incurred by the grantee during the period 7/1/2021 - 12/31/2021. | $11,086 |
ADATH ISRAEL CONGREGATION PURPOSE: Cover various listed and documented capital improvements and maintenance expenses incurred by the grantee during the period of January 1, 2022 to June 30, 2022 | $15,105 |