Israel Global Initiative Fund Inc
- Assets
- $444.7k
- Revenue
- $223.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- Data as of
- 03/2023
- EIN
- 83-4376340
Organization Overview
Israel Global Initiative Fund Inc is located in Chicago, IL. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Israel Global Initiative 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ISRAEL GLOBAL INNOVATION FUND IS AN EDUCATIONAL ORGANIZATION COMMITTED AND DEDICATED TO INFORMING AND RAISING AWARENESS ABOUT ISRAEL'S UNIQUE ROLE IN THE MIDDLE EAST AND THE WORLD. WE ARE FOCUSED ON TELLING ISRAEL'S NARRATIVE AND HISTORY TO PEOPLE IN ORDER TO EDUCATE AND HELP SHARPEN THEIR PERSPECTIVE ON THE CONTRIBUTIONS ISRAEL HAS MADE TO MAKE THE WORLD A SAFER AND BETTER PLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ISRAEL GLOBAL INNOVATION FUND IS DEDICATED TO SUPPORT COMMUNITIES IN NEED WITH TECHNOLOGY, INNOVATIONS AND EXPERTISE. IN DEVELOPING COUNTRIES THERE ARE MANY CHALLENGES AND A SIGNIFICANT NEED FOR TECHNOLOGICAL INNOVATION IN THE BASIC AREAS OF INFRASTRUCTURE, CLEAN WATER, HEALTH SERVICES, AND AGRICULTURAL. THE INNOVATIVE AND ENTREPRENEURIAL SPIRT OF ISRAELIS HAS IMPACTED THE WORLD LIKE NO OTHER COUNTRY AND HAS LED TO INCREDIBLE PRODUCTS AND SOLUTIONS IN THE MODERN ERA THAT HAS MADE THE WORLD A BETTER MORE ADVANCED SOCIETY. OUR FOCUS ON PROVIDING THE BEST CUTTING-EDGE ISRAELI INNOVATION WILL ALLOW THE CITIZENS OF THE DEVELOPING ECONOMIES TO HAVE ACCESS TO THE BEST SERVICES POSSIBLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Lebovic President & Director | OfficerTrustee | 5 | $0 |
Ryan Haines Treasurer & Director | OfficerTrustee | 5 | $0 |
David Borenstein Secretary | OfficerTrustee | 5 | $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 | $281,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $281,000 |
| Total Program Service Revenue | $0 |
| Investment income | $9,589 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$67,103 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $223,486 |
| 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 | $300,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,416 |
| Advertising and promotion | $0 |
| Office expenses | $8,666 |
| Information technology | $40,000 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,814 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,738 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $411,085 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,882 |
| Savings and temporary cash investments | $330,831 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $444,713 |
| 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 | $444,713 |
| 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 | $444,713 |