Civic Nyc Fund Inc
- Assets
- $20.8m
- Revenue
- $257.0k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 05/2017
- Data as of
- 12/2021
- EIN
- 81-3150380
Organization Overview
Civic Nyc Fund Inc is located in New York, NY. The organization was established in 2017. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Civic Nyc 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION WAS FORMED AS A 501(C)(3) ORGANIZATION FOR THE PURPOSE OF FURTHERING THE CHARITABLE PURPOSES OF CIVIC BUILDERS, INC., A 501(C)(3) ORGANIZATION THAT PROVIDES TURN-KEY SOLUTIONS FOR CHARTER SCHOOL REAL ESTATE NEEDS. SPECIFICALLY, THIS CORPORATION WAS FORMED TO BORROW FUNDS AND TO MAKE LOANS AND INVESTMENTS INTO CHARTER SCHOOL DEVELOPMENT PROJECTS IN NEW YORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LOANS AND INVESTMENTS TO CHARTER SCHOOLS DEVELOPMENT PROJECTS IN NEW YORKAN INVESTMENT WAS MADE INTO A CHARTER SCHOOL DEVELOPMENT PROJECT LOCATED AT 2390 PITKIN AVENUE, BROOKLYN, NY. CONSTRUCTION OF THIS PROJECT IS SCHEDULED TO BE COMPLETE IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brahm Cramer Vice President | OfficerTrustee | 1 | $0 |
David Umansky President | OfficerTrustee | 1 | $0 |
David Loo Secretary And Treasurer | OfficerTrustee | 1 | $0 |
Khary Barnes Board Member | OfficerTrustee | 1 | $0 |
Ron Beit Board Member | Trustee | 1 | $0 |
Simone Brody Board Member | Trustee | 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 | $257,028 |
| 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 | $257,028 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $10,122 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,602 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $168,084 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $801 |
| Total functional expenses | $190,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,410 |
| Savings and temporary cash investments | $489,787 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $833,182 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,174,999 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $122,500 |
| Net Land, buildings, and equipment | $7,063,399 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,050,347 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,781,624 |
| Accounts payable and accrued expenses | $178,626 |
| 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 | $5,178,300 |
| Other liabilities | $489,787 |
| Total liabilities | $5,846,713 |
| Net assets without donor restrictions | $14,113,211 |
| Net assets with donor restrictions | $821,700 |
| 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 | $20,781,624 |
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