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← JUDITH AND MICHAEL BERMANFOUNDATION

Form 990 for tax year 2022

Filed by JUDITH AND MICHAEL BERMANFOUNDATION.

Totals

Total revenue
$93,292
Total expenses
$71,778
Contributions and grants received
$0
Grants paid
$68,500
Program service revenue
$0
Investment income
$93,292
Other revenue
$0
Total assets, end of year
$314,428
Total liabilities, end of year
$265
Net assets or fund balances, end of year
$314,163
Program services expenses (Part IX)
$68,500
Management and general expenses
$3,278
Fundraising expenses
$0
Program service expenses (Part III)
$68,500

Program services were 95.4% 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 $6,483 · excluded $6,483

  • 7a · Gross sales of assets other than inventory

    securities $348,673

  • 7b · Less cost or other basis and sales expenses

    securities $261,864

  • 7c · Gain or loss

    securities $86,809

  • 7d · Net gain or loss

    total $86,809 · excluded $86,809

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $68,500 · program services $68,500

  • 11a · Fees: management

    total $3,278 · management and general $3,278

Balance sheet

Part X, book values.

  • 12 · Investments: other securities

    beginning of year $423,607 · end of year $314,428

  • 17 · Accounts payable and accrued expenses

    beginning of year $347 · end of year $265

  • 27 · Net assets without donor restrictions

    beginning of year $423,260 · end of year $314,163

Mission and programs · 2022

Mission

THE JUDITH AND MICHAEL BERMAN FOUNDATION IS ORGANIZED TO CARRY OUT THE PURPOSES OF MINNEAPOLIS JEWISH FEDERATION BY ACCEPTING CONTRIBUTIONS, INVESTING ITS ASSETS, AND MAKING GRANTS TO BENEFIT JEWISH CAUSES AND ORGANIZATIONS.

Activities or mission (Part I)

TO CARRY OUT THE PURPOSES OF MINNEAPOLIS JEWISH FEDERATION.

  • TO SUPPORT THE PURPOSES OF MINNEAPOLIS JEWISH FEDERATION, BY ACCEPTING CONTRIBUTIONS, INVESTING ITS ASSETS, AND MAKING GRANTS TO BENEFIT JEWISH CAUSES AND ORGANIZATIONS.

    Expenses $68,500 · Grants $68,500

As filed on the 2022 return.

Listed in Part VII

  • James A Cohen

    DIRECTOR

    Total calculated
    $381,058
    From this org
    $0
    From related orgs
    $347,891
    Other
    $33,167
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $291,244 related
    Bonus
    $0 + $55,444 related
    Other
    $0 + $1,203 related
    Deferred
    $0 + $6,019 related
    Nontaxable benefits
    $0 + $27,148 related
    Filer's total
    $0 + $381,058 related

  • Michael Berman

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Judith Berman

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Steve Lear

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Iris Tzafrir

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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 3
THE ORGANIZATION RELIED ON MINNEAPOLIS JEWISH FEDERATION, A RELATED ORGANIZATION, TO DETERMINE THE OFFICERS' COMPENSATION. THE FOLLOWING WERE USED BY MINNEAPOLIS JEWISH FEDERATION TO ESTABLISH THE COMPENSATION: 1. FINANCE COMMITTEE 2. WRITTEN EMPLOYMENT CONTRACT 3. COMPENSATION SURVEY OR STUDY 4. APPROVAL BY THE BOARD OR FINANCE COMMITTEE

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333189349308478

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