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Nonprofiteer
← JCF INVESTMENT PROGRAM LLC

Form 990 for tax year 2023

Filed by JCF INVESTMENT PROGRAM LLC.

Totals

Total revenue
$14,631,875
Total expenses
$677,703
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$14,631,875
Other revenue
$0
Total assets, end of year
$487,587,311
Total liabilities, end of year
$187,042,242
Net assets or fund balances, end of year
$300,545,069
Program services expenses (Part IX)
$0
Management and general expenses
$677,703
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Howard Rabner

    CFO/COO/ASSISTANT TREASURER

    Total calculated
    $287,286
    From this org
    $0
    From related orgs
    $249,335
    Other
    $37,951
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $249,335 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $37,951 related
    Filer's total
    $0 + $287,286 related
  • Kim Hirsh

    Executive Director

    Total calculated
    $255,357
    From this org
    $0
    From related orgs
    $236,405
    Other
    $18,952
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $236,405 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $18,952 related
    Filer's total
    $0 + $255,357 related
  • Michal Werner

    Associate Executive Director

    Total calculated
    $172,405
    From this org
    $0
    From related orgs
    $168,717
    Other
    $3,688
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $168,717 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $3,688 related
    Filer's total
    $0 + $172,405 related
  • Steve D Levy

    President

    Total calculated
    $0
    Hours/week
    1
  • Maxine B Murnick

    Vice President/President Elect

    Total calculated
    $0
    Hours/week
    1
  • Jonathan Liss

    Vice President

    Total calculated
    $0
    Hours/week
    1
  • Ariel Nelson

    Vice President

    Total calculated
    $0
    Hours/week
    1
  • Michael R Schechner

    Treasurer

    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

  • 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)

Schedule J, Part I, Line 3
Our organization follows the related organizations compensation policies, which include the compensation committee, compensation studies and approval by the board or compensation committee for all officers compensation.
Schedule J, Part I, Line 4
The compensation review for employees is done on at least an annual basis and ensures that the 'total compensation" of senior management of the organization is reasonable. The actions taken by the committee enable the organization to receive the rebuttable presumption of reasonableness for the purposes of internal revenue code section 4958 with respect to the total compensation of certain members of the senior management team. The three factors which much be satisfied in order to receive the rebuttable presumption of reasonableness are the following: 1. The compensation agreement is approved in advance by an "authorized body" of the applicable tax-exempt organization which is composed entirely of individuals who do not have a "conflict of interest" with respect to the compensation agreement. 2. The authorized body obtained and relied upon "appropriate date as to comparability" prior to making its determination; and 3. The authorized body "adequately documented the basis for its determination" concurrently with making that determination that the members of the board of trustees each are independent and are free from any conflicts of interest. The committee adequately documented the basis for its determination through the timely preparation of written minutes of the meetings during which the executive compensation and benefits were reviewed and subsequently approved. The actions outlined above with respect to the board and the establishment of the rebuttable presumption of reasonableness only applies to all senior management personnel.

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

No itemized grants to organizations 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
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202521359349311702

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