Ics Foundation Inc
- Assets
- $796.1k
- Revenue
- $50.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Staten Island, NY
- Founding
- 08/2019
- Data as of
- 06/2021
- EIN
- 83-2539307
Organization Overview
Ics Foundation Inc is located in Staten Island, NY. The organization was established in 2019. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ics 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 06/2021, Ics Foundation Inc generated $50.2k 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 (55.0%) each year. All expenses for the organization totaled $84.0k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ICS FOUNDATION, INC. WAS FOUNDED TO PROVIDE FINANCIAL AND TECHNICAL SUPPORT TO FURTHER THE EDUCATIONAL CHARITABLE MISSION OF INTEGRATED CHARTER SCHOOLS, WHICH CURRENTLY INCLUDES LAVELLE PREPARATORY CHARTER SCHOOL, NEW VENTURES CHARTER SCHOOL, NICOTRA EARLY COLLEGE CHARTER SCHOOL AND RICHMOND PREPARATORY CHARTER SCHOOL IN NEW YORK STATE. THE ORGANIZATION'S FUNDRAISING AND RESOURCES WILL ENABLE IT TO PROVIDE SUPPORT TO THE SCHOOLS TO ENHANCE THE EXPERIENCE OF THE SCHOOLS' STUDENTS, PROVIDE ASSISTANCE WITH THE SCHOOLS' STUDENTS AND PROVIDE ASSISTANCE WITH THE SCHOOLS' REAL ESTATE AND FACILITIES-RELATED NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM PROVIDED SUPPORT TO CHARTER SCHOOLS STUDENTS AND PROVIDED ASSISTANCE WITH THE SCHOOLS REAL ESTATE AND FACILITIES-RELATED NEEDS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Gustafsson Secretary | OfficerTrustee | $0 | |
Kenneth Byalin President | Officer | $0 | |
Michael Caridi Chiairperson | Trustee | $0 | |
Paco Lugovina Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| 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 | $50,239 |
| Statement of Expenses | |
|---|---|
| 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 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 | $16,900 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,228 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,090 |
| 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 | $8,526 |
| All other expenses | $0 |
| Total functional expenses | $84,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $335,569 |
| Savings and temporary cash investments | $0 |
| 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 | $1,937 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $458,590 |
| Total assets | $796,096 |
| Accounts payable and accrued expenses | $8,731 |
| 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 | $762,460 |
| Total liabilities | $771,191 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $24,905 |
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