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Nonprofiteer
← GLICKMAN FOUNDATION

Form 990 for tax year 2022

Filed by GLICKMAN FOUNDATION.

Totals

Total revenue
$278,266
Total expenses
$553,610
Contributions and grants received
$0
Grants paid
$550,000
Program service revenue
$0
Investment income
$278,266
Other revenue
$0
Total assets, end of year
$15,382,804
Total liabilities, end of year
$603,600
Net assets or fund balances, end of year
$14,779,204
Program services expenses (Part IX)
$550,000
Management and general expenses
$3,610
Fundraising expenses
$0
Program service expenses (Part III)
$550,000

Program services were 99.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $278,266 · excluded $278,266

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $550,000 · program services $550,000

  • 11c · Fees: accounting

    total $3,600 · management and general $3,600

  • 24a · Other expenses: Filing Fee

    total $10 · management and general $10

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,877,879 · end of year $2,257,239

  • 12 · Investments: other securities

    beginning of year $10,977,024 · end of year $13,125,565

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,550 · end of year $3,600

  • 18 · Grants payable

    beginning of year $750,000 · end of year $600,000

  • 27 · Net assets without donor restrictions

    beginning of year $13,101,353 · end of year $14,779,204

Mission and programs · 2022

Mission

The Foundation is exclusively organized to foster, promote, support, develop, encourage and maintain a specific charitable, educational, and/or religious purpose or function as authorized by the charter of the Jewish Federation of Metropolitan Chicago and the by-laws of the Foundation.

Activities or mission (Part I)

The Foundation is exclusively organized to foster, promote, support, develop, encourage and maintain the broad charitable, educational, and/or religious purpose or functions as authorized by the charter of the Jewish Federation of Metropolitan Chicago and the by-laws of the Foundation.

  • The Foundation makes grants to charitable organizations, all of which are exempt under IRC Section 501(c)(3), and meet the guidelines of the Foundation and the Jewish Federation of Metropolitan Chicago and its by-laws.

    Expenses $550,000 · Grants $550,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dr Steven B Nasatir

    Treasurer

    Total calculated
    $581,288
    From this org
    $0
    From related orgs
    $547,025
    Other
    $34,263
    Hours/week
    0.3 + 37.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $468,992 related
    Bonus
    $0
    Other
    $0 + $78,033 related
    Deferred
    $0 + $18,449 related
    Nontaxable benefits
    $0 + $16,208 related
    Filer's total
    $0 + $581,682 related

  • Robert Glickman

    President

    Total calculated
    $0
    Hours/week
    0.3

  • Howard Bernick

    Director

    Total calculated
    $0
    Hours/week
    0.3

  • James A Pinkston

    Assistant Treasurer

    Total calculated
    $343,199
    From this org
    $0
    From related orgs
    $301,042
    Other
    $42,157
    Hours/week
    0.3 + 49.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,875 related
    Bonus
    $0
    Other
    $0 + $167 related
    Deferred
    $0 + $25,803 related
    Nontaxable benefits
    $0 + $17,319 related
    Filer's total
    $0 + $344,164 related

  • Peter Chiswick

    Assistant Treasurer

    Total calculated
    $288,922
    From this org
    $0
    From related orgs
    $230,261
    Other
    $58,661
    Hours/week
    0.3 + 49.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $224,395 related
    Bonus
    $0
    Other
    $0 + $5,866 related
    Deferred
    $0 + $51,263 related
    Nontaxable benefits
    $0 + $8,102 related
    Filer's total
    $0 + $289,626 related

  • Rose Jagust

    Secretary

    Total calculated
    $271,920
    From this org
    $0
    From related orgs
    $205,496
    Other
    $66,424
    Hours/week
    0.3 + 49.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,468 related
    Bonus
    $0
    Other
    $0 + $5,028 related
    Deferred
    $0 + $54,884 related
    Nontaxable benefits
    $0 + $12,181 related
    Filer's total
    $0 + $272,561 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4b
Steven B. Nasatir: In 1999 the Jewish Federation entered into an agreement with Steven Nasatir that was contingent upon 5 more years of service as president and CEO and would result in annual payments of $50,000 per year (net of tax) beginning at age 64 and lasting throughout his lifetime. Dr. Nasatir began receiving payments under this agreement in 2009. During 2012, the Jewish Federation entered into a second agreement with Steven Nasatir which provides for annual payments of $5,000 beginning April 1, 2015 and lasting throughout his lifetime. Dr. Nasatir vested in the following benefits: Benefit payments from the aforementioned agreements will continue for the longer of 1) 10 years through December 2028 or 2) his lifetime. In the event of his death prior to 2029, payments will be made to Dr. Nasatir's beneficiary. The $50,000 and $5,000 annual payment amounts are to be adjusted annually in accordance with the CPI index. In 2017, the Jewish Federation entered into a third agreement with Steven Nasatir which provides for annual payments of $21,000 per year, beginning in 2018, for the longer of his lifetime or ten years (through December 2027). In 2022, Steven Nasatir received payments totaling $109,776 from the three supplemental non-qualified retirement plans.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 255 Revere Drive LP

    N/A · Real Estate · IL

    Directly controlled by JFMC Facilities Corporation

  • JFMC Pooled Endowment Portfolio LLC

    N/A · See Sch. R, Part VII · IL

    Directly controlled by Jewish Federation of Metropolitan Chicago

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Charitable Remainder Unitrusts (19)

    T · Charitable Trust · IL · controlled entity

    Directly controlled by Jewish Federation of Metropolitan Chicago

  • Charitable Remainder Annuity Trusts (3)

    T · Charitable Trust · IL · controlled entity

    Directly controlled by Jewish Federation of Metropolitan Chicago

Provenance

Return type
form_990
Tax year
2022
Filed
2 May 2024
IRS schema version
2022v5.0
Source object
202411279349303046

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