Association For Cultural Interchange Inc
- Assets
- $211.4m
- Revenue
- $5.9m
- Investments
- $17.9m
- Employees
- 2
- Location
- New York, NY
- Founding
- 12/1962
- Data as of
- 12/2022
- EIN
- 52-6054124
Organization Overview
Association For Cultural Interchange Inc is located in New York, NY. The organization was established in 1962. According to its NTEE Classification (Q12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Association For Cultural Interchange Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association For Cultural Interchange 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 12/2022, Association For Cultural Interchange Inc generated $5.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.8%) each year. All expenses for the organization totaled $6.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Association For Cultural Interchange Inc has awarded 15 individual grants totaling $339,337. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ACI PROVIDES A PROGRAM OF SUPPORT AND ASSISTANCE TO OTHER NOT-FOR-PROFIT ORGANIZATIONS AND EDUCATIONAL AND VOCATIONAL TRAINING INSTITUTIONS FROM ELEMENTARY LEVEL THROUGH GRADUATE STUDIES. ACI EMPHASIZES THE PROMOTION OF INTERNATIONAL UNDERSTANDING AND THE INTERCHANGE OF IDEAS AND CULTURAL ACTIVITIES AMONG PEOPLE OF DIFFERENT NATIONS. ACI'S PROGRAM IS CARRIED OUT IN THE UNITED STATES AND FOREIGN COUNTRIES.ACI ACHIEVES THIS BY PROVIDING GRANTS AND PROGRAM LOANS, AS WELL AS THE USE OF PHYSICAL FACILITIES, TO ORGANIZATIONS IN THE UNITED STATES AND OTHER COUNTRIES THAT OPERATE IN FURTHERANCE OF ACI'S MISSION. ACI ALSO OWNS AND OPERATES THE SAXUM CENTER ("SAXUM") IN ABU GOSH, ISRAEL. SAXUM CONSISTS OF A CONFERENCE CENTER WHICH OPERATES WORKSHOPS, CONFERENCES AND SPIRITUAL RETREATS; AND A VISITOR CENTER PROVIDING ORIENTATION AND INFORMATION RESOURCES FOR INDIVIDUALS AND GROUPS VISITING THE HOLY LAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MADE EDUCATIONAL AND TRAINING GRANTS TO 9 FOREIGN AND 2 DOMESTIC INSTITUTIONS.MANAGED PROGRAM LOANS TO 10 FOREIGN AND 3 DOMESTIC INSTITUTIONS.
SERVICE AGREEMENTS WITH OTHER 501(C)(3) ORGANIZATIONS.
DEVELOPED AND MAINTAINED INSTITUTIONAL PROPERTIES IN JERUSALEM AND ROME USED BY CHARITABLE, EDUCATIONAL AND TRAINING INSTITUTIONS. PROGRAM EXPENSES INCLUDE $874,248 IN PROPERTY DEPRECIATION.
SAXUM CENTER CONSISTS OF A CONFERENCE CENTER WHICH OPERATES WORKSHOPS, CONFERENCES AND SPIRITUAL RETREATS; AS WELL AS A VISITOR CENTER. PROGRAM EXPENSES INCLUDE $2,039,045 IN PROPERTY DEPRECIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Federico Riera-Marsa V.p./treasurer/director | OfficerTrustee | 6 | $0 |
William P Orchard Exec. Dir./president/direc | OfficerTrustee | 40 | $105,000 |
Luis E Tellez Director | Trustee | 1 | $0 |
John E Fagan Director | Trustee | 2 | $0 |
John F Sweeney Secretary/director | OfficerTrustee | 1 | $0 |
Timothy Barry Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Philadelphia Trust Company Investment Management | 12/30/22 | $327,017 |
Verus Investment Management | 12/30/22 | $160,833 |
Israel Electric Corporation Electricity | 12/30/22 | $135,424 |
Avi Hazan Waterproofing Construction | 12/30/22 | $118,792 |
Shoham Financial Services Accounting And Financial | 12/30/22 | $111,854 |
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 | $2,572,540 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,572,540 |
| Total Program Service Revenue | $1,024,030 |
| Investment income | $2,249,183 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,608,375 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,933,961 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $103,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,450,703 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $105,000 |
| Compensation of current officers, directors, key employees. | $26,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $378,411 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,968 |
| Payroll taxes | $12,158 |
| Fees for services: Management | $317,671 |
| Fees for services: Legal | $9,239 |
| Fees for services: Accounting | $11,723 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $437,089 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $31,216 |
| Information technology | $17,346 |
| Royalties | $0 |
| Occupancy | $658,867 |
| Travel | $8,112 |
| 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 | $2,913,293 |
| Insurance | $31,977 |
| All other expenses | $0 |
| Total functional expenses | $6,787,299 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,847 |
| Savings and temporary cash investments | $2,095,830 |
| 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 | $62,878,720 |
| Investments—publicly traded securities | $119,006,655 |
| Investments—other securities | $17,887,432 |
| Investments—program-related | $9,265,903 |
| Intangible assets | $0 |
| Other assets | $282,189 |
| Total assets | $211,426,576 |
| Accounts payable and accrued expenses | $147,856 |
| 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 | $147,856 |
| Net assets without donor restrictions | $168,925,244 |
| Net assets with donor restrictions | $42,353,476 |
| 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 | $211,426,576 |
Grants Awarded
Over the last fiscal year, Association For Cultural Interchange Inc has awarded $103,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CLOVER FOUNDATION PURPOSE: GRANT FOR COPPER RIDGE - INSTALLMENT 5 | $54,200 |
PONTIFICAL UNIVERSITY OF THE HOLY CROSS FOUNDATION PURPOSE: GRANT FOR FORMATION OF EL SALVADOR PRIESTS | $4,000 |
ASAC USA INCORPORATED PURPOSE: GRANT FOR ASAC - INSTALLMENT 1 TO ASAC USA | $44,800 |