Sephardic Food Fund Inc
- Assets
- $3.1m
- Revenue
- $4.9m
- Investments
- $2.7m
- Employees
- 7
- Location
- New York, NY
- Founding
- 03/2003
- Data as of
- 12/2022
- EIN
- 56-2307777
Organization Overview
Sephardic Food Fund Inc is located in New York, NY. The organization was established in 2003. According to its NTEE Classification (K31) the organization is classified as: Food Banks & Pantries, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2022, Sephardic Food Fund Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sephardic Food Fund 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, Sephardic Food Fund Inc generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $3.8m during the year ending 12/2022. While expenses have increased by 4.8% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE AND MAINTAIN FUNDS TO BE USED FOR CHARITABLE PURPOSES, INCLUDING, BUT NOT LIMITED TO, PROVIDING FOOD TO THE NEEDY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES CREDIT CARDS TO BE USED BY NEEDY FAMILIES IN ORDER TO PURCHASE FOOD AND BASIC NECESSITIES. THE CREDIT CARDS HAVE A PREDETERMINED MONTHLY BALANCE RESTRICTED FOR USE AT FOOD STORES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Sitt Executive Director | Trustee | 10 | $0 |
Elliot Sutton Director | Trustee | 10 | $0 |
Raymond Sultan Director | Trustee | 40 | $185,608 |
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 | $4,708,768 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,708,768 |
| Total Program Service Revenue | $0 |
| Investment income | $37,681 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $177,830 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,924,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,783,005 |
| Grants and other assistance to Foreign Orgs/Individuals | $368,400 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $275,608 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $137,138 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $60,227 |
| Payroll taxes | $22,202 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,206 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,798 |
| Office expenses | $28,372 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,380 |
| Travel | $1,220 |
| 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 | $3,893 |
| All other expenses | $5,970 |
| Total functional expenses | $3,841,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $79,039 |
| Savings and temporary cash investments | $281,189 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $50,000 |
| 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 | $0 |
| Investments—other securities | $2,693,952 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,104,180 |
| 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 | $3,104,180 |
| 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 | $3,104,180 |