Futernick Family Foundation Inc
- Assets
- $4.2m
- Revenue
- $158.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Miami, FL
- Founding
- 07/1989
- Data as of
- 06/2022
- EIN
- 65-0078657
Organization Overview
Futernick Family Foundation Inc is located in Miami, FL. The organization was established in 1989. 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. Futernick Family 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.
For the year ending 06/2022, Futernick Family Foundation Inc generated $158.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (13.2%) each year. All expenses for the organization totaled $311.9k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Futernick Family Foundation Inc has awarded 27 individual grants totaling $579,800. 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
TO SUPPORT THE GREATER MIAMI JEWISH FEDERATION AND OTHER SECTION 501(C)(3) ORGANIZATIONS THROUGH PHILANTHROPY, VOLUNTARISM AND GRANTMAKING PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TAXPAYER PROVIDED GRANTS IN THE AMOUNT OF $ 285,400 TO THE GREATER MIAMI JEWISH FEDERATION AND OTHER IRC SECTION 501(C)(3) ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacob Solomon Board Member | Officer | 0 | $0 |
Scott Kaplan Secretary | Officer | 0 | $0 |
Morris Futernick President | Trustee | 0 | $0 |
Frank Futernick Vice President | Trustee | 0 | $0 |
Lee Futernick Treasurer | Trustee | 0 | $0 |
Cathie Futernick Board Member | Trustee | 0 | $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 | $100,879 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16,434 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $158,200 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $285,400 |
| 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 | $25,384 |
| 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 | $311,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $84,492 |
| 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 | $3,049,563 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,082,116 |
| Total assets | $4,216,171 |
| Accounts payable and accrued expenses | $3,000 |
| 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 | $140 |
| Total liabilities | $3,140 |
| Net assets without donor restrictions | $4,213,031 |
| 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 | $4,216,171 |
Grants Awarded
Over the last fiscal year, Futernick Family Foundation Inc has awarded $188,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
CALIFORNIA HOSPITAL MEDICAL CENTER FNDN PURPOSE: GENERAL SUPPORT | $25,000 |
GREATER MIAMI JEWISH FEDERATION INC PURPOSE: GENERAL SUPPORT | $80,000 |
ALEXANDER MUSS INSTITUTE FOR ISRAEL EDU PURPOSE: GENERAL SUPPORT | $20,000 |
PEF ISRAEL ENDOWMENT FUNDS INC PURPOSE: GENERAL SUPPORT | $20,000 |
THE ISRAEL TENNIS CENTERS FOUNDATION PURPOSE: GENERAL SUPPORT | $10,000 |
UNITED WAY OF MIAMI-DADE COUNTY PURPOSE: GENERAL SUPPORT | $10,000 |