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Nonprofiteer
← CARDINAL AND GOLD FUND INC

Form 990 for tax year 2023

Filed by CARDINAL AND GOLD FUND INC.

Totals

Total revenue
$3,574,047
Total expenses
$4,587,358
Contributions and grants received
$3,391,216
Grants paid
$3,660,518
Program service revenue
$0
Investment income
$190,225
Other revenue
-$7,394
Total assets, end of year
$9,768,249
Total liabilities, end of year
$796,476
Net assets or fund balances, end of year
$8,971,773
Program services expenses (Part IX)
$3,660,518
Management and general expenses
$217,227
Fundraising expenses
$709,613
Program service expenses (Part III)
$3,660,518

Program services were 79.8% 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.

  • 1c · Fundraising events

    $12,993

  • 1f · All other contributions, gifts and grants

    $3,378,223

  • 1g · Noncash contributions included above

    $315,720

  • 3 · Investment income

    total $118,745 · excluded $118,745

  • 7a · Gross sales of assets other than inventory

    securities $3,744,394

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

    securities $3,672,914

  • 7c · Gain or loss

    securities $71,480

  • 7d · Net gain or loss

    total $71,480 · excluded $71,480

  • 8a · Fundraising events: gross income

    $26,260

  • 8a · Fundraising events: contributions included on line 1c

    $12,993

  • 8b · Fundraising events: direct expenses

    $33,654

  • 8c · Net income from fundraising events

    total -$7,394 · excluded -$7,394

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,660,518 · program services $3,660,518

  • 11c · Fees: accounting

    total $20,200 · management and general $20,200

  • 11e · Fees: professional fundraising services

    total $115,000 · fundraising $115,000

  • 11f · Fees: investment management

    total $57,113 · management and general $57,113

  • 11g · Fees: other

    total $69,783 · management and general $10,883 · fundraising $58,900

  • 12 · Advertising and promotion

    total $9,845 · management and general $1,478 · fundraising $8,367

  • 13 · Office expenses

    total $95,872 · management and general $18,090 · fundraising $77,782

  • 14 · Information technology

    total $51,248 · fundraising $51,248

  • 17 · Travel

    total $15,596 · management and general $6,069 · fundraising $9,527

  • 19 · Conferences, conventions and meetings

    total $285 · management and general $111 · fundraising $174

  • 23 · Insurance

    total $6,901 · management and general $2,685 · fundraising $4,216

  • 24a · Other expenses: ALLOCATED COMPENSATION

    total $441,635 · management and general $83,724 · fundraising $357,911

  • 24b · Other expenses: OTHER EVENT EXPENSES

    total $24,726 · management and general $9,622 · fundraising $15,104

  • 24c · Other expenses: MISCELLANEOUS

    total $18,636 · management and general $7,252 · fundraising $11,384

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $772,841 · end of year $215,729

  • 3 · Pledges and grants receivable

    beginning of year $189,802 · end of year $90,557

  • 9 · Prepaid expenses and deferred charges

    beginning of year $48,752 · end of year $18,900

  • 11 · Investments: publicly traded securities

    beginning of year $5,606,603 · end of year $6,752,620

  • 12 · Investments: other securities

    beginning of year $2,395,436 · end of year $2,690,443

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,322 · end of year $41,023

  • 19 · Deferred revenue

    beginning of year $0 · end of year $14,056

  • 25 · Other liabilities

    beginning of year $172,404 · end of year $741,397

  • 27 · Net assets without donor restrictions

    beginning of year $1,669,928 · end of year $746,790

  • 28 · Net assets with donor restrictions

    beginning of year $7,152,780 · end of year $8,224,983

Mission and programs · 2023

Mission

THE FUND PROVIDES FOR THE EDUCATION OF UNDERPRIVILEGED NYC YOUTH AT CARDINAL HAYES HIGH SCHOOL THROUGH SCHOLARSHIPS, FINANCIAL ASSISTANCE AND SUPPORT OF SCHOOL ACTIVITIES.

Activities or mission (Part I)

TO PROVIDE FOR THE EDUCATION OF UNDERPRIVILEGED NYC YOUTH AT CARDINAL HAYES HIGH SCHOOL.

  • THE FUND PROVIDES SCHOLARSHIPS AND FINANCIAL ASSISTANCE TO STUDENTS OF CARDINAL HAYES HIGH SCHOOL. CARDINAL HAYES HIGH SCHOOL PROVIDES A TRANSFORMATIVE ACADEMIC PROGRAM FOR YOUNG MEN, PREDOMINATELY IMMIGRANTS AND MEN OF COLOR, IN THE SOUTH BRONX, ONE OF THE HIGHEST NEED AND LOWEST RESOURCE COMMUNITIES IN NEW YORK CITY. MORE THAN 99% OF STUDENTS GRADUATE AND MORE THAN 98% OF THEM GO ON TO HIGHER EDUCATION.

    Expenses $3,660,518 · Grants $3,660,518

As filed on the 2023 return.

Listed in Part VII

  • Kevin O'Hanlon

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Kevin Johnson

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Carlos Marenco

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Michael E Carey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • John Duffy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • John Fontana

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • James Hynes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • William Lessa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Charlie McCaghey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Kevin Meenan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Eddie Sanchez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Dennis Conroy

    DIRECTOR, THRU JULY 2024

    Total calculated
    $0
    Hours/week
    5

  • Hector Jimenez

    DIRECTOR, THRU MAY 2024

    Total calculated
    $0
    Hours/week
    5

  • Nancy Rhodes

    VICE PRESIDENT ADVANCEMENT

    Total calculated
    $190,328
    From this org
    $155,312
    From related orgs
    $0
    Other
    $35,016
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $154,607
    Bonus
    $0
    Other
    $705
    Deferred
    $13,400
    Nontaxable benefits
    $21,616
    Filer's total
    $190,328

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)

FORM 990, SCHEDULE J, PART II
NANCY RHODES, WHO IS A VICE PRESIDENT ADVANCEMENT OF THE CARDINAL AND GOLD FUND INC, RECEIVED COMPENSATION FROM AN UNRELATED ORGANIZATION THE CARDINAL HAYES HIGH SCHOOL (CHHS) FOR SERVICES RENDERED TO THE CARDINAL AND GOLD FUND INC. THE SERVICE PROVIDED BY NANCY RHODES IS NECESSARY FOR THE CARDINAL AND GOLD FUND INC. TO CARRY OUT ITS PROGRAMS. TOTAL COMPENSATION RECEIVED BY NANCY RHODES IS $190,328, WHICH INCLUDES TAXABLE COMPENSATION IN THE AMOUNT OF $155,312. CONTRIBUTION TO HER PENSION PLAN IN THE AMOUNT OF $13,400 AND MEDICAL BENEFITS IN THE AMOUNT OF $21,616. THIS COMPENSATION IS REPORTED ON FORM 990, PART VII-A AND ON SCH J, PART II. THE CARDINAL AND GOLD FUND INC. REIMBURSED THE CARDINAL HAYES HIGH SCHOOL (CHHS) FOR COMPENSATION PAID TO NANCY RHODES.

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 July 2025
IRS schema version
2023v6.0
Source object
202511969349302811

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