Skip to content
Nonprofiteer
← CIVIC NYC FUND INC

Form 990 for tax year 2023

Filed by CIVIC NYC FUND INC.

Totals

Total revenue
$1,061,511
Total expenses
$695,594
Contributions and grants received
$91,047
Grants paid
$0
Program service revenue
$462,863
Investment income
$507,601
Other revenue
$0
Total assets, end of year
$92,403,212
Total liabilities, end of year
$86,788,588
Net assets or fund balances, end of year
$5,614,624
Program services expenses (Part IX)
$643,341
Management and general expenses
$52,253
Fundraising expenses
$0
Program service expenses (Part III)
$643,341

Program services were 92.5% 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.

  • 1f · All other contributions, gifts and grants

    $91,047

  • 1g · Noncash contributions included above

    $91,047

  • 2a · Program service revenue: RENTAL INCOME

    total $462,863 · related or exempt $462,863

  • 3 · Investment income

    total $507,601 · related or exempt $507,601

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $45,250 · program services $45,250

  • 11c · Fees: accounting

    total $52,000 · management and general $52,000

  • 16 · Occupancy

    total $171 · program services $171

  • 20 · Interest

    total $443,805 · program services $443,805

  • 22 · Depreciation, depletion and amortization

    total $153,625 · program services $153,625

  • 23 · Insurance

    total $490 · program services $490

  • 24e · All other expenses

    total $253 · management and general $253

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $153,027 · end of year $121,288

  • 2 · Savings and temporary cash investments

    beginning of year $14,380,728 · end of year $30,632,339

  • 4 · Accounts receivable

    beginning of year $1,082,099 · end of year $1,479,874

  • 7 · Other notes and loans receivable

    beginning of year $5,174,999 · end of year $5,174,999

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,308 · end of year $26,860

  • 10a · Land, buildings and equipment: cost or other basis

    $53,105,257

  • 10b · Land, buildings and equipment: accumulated depreciation

    $153,302

  • 10c · Land, buildings and equipment, net

    beginning of year $16,965,733 · end of year $52,951,955

  • 13 · Investments: program-related

    beginning of year $6,575,349 · end of year $1,973,347

  • 15 · Other assets

    beginning of year $16,900 · end of year $42,550

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,727,243 · end of year $984,601

  • 24 · Unsecured notes and loans payable

    beginning of year $32,580,057 · end of year $81,157,219

  • 25 · Other liabilities

    beginning of year $492,149 · end of year $4,646,768

  • 27 · Net assets without donor restrictions

    beginning of year $7,904,518 · end of year $5,051,482

  • 28 · Net assets with donor restrictions

    beginning of year $649,176 · end of year $563,142

Mission and programs · 2023

Mission

THE CORPORATION WAS FORMED AS A 501(C)(3) ORGANIZATION FOR THE PURPOSE OF FURTHERING THE CHARITABLE PURPOSES OF CIVIC BUILDERS, INC., A 501(C)(3) ORGANIZATION THAT PROVIDES TURN-KEY SOLUTIONS FOR CHARTER SCHOOL REAL ESTATE NEEDS. SPECIFICALLY, THIS CORPORATION WAS FORMED TO BORROW FUNDS AND TO MAKE LOANS AND INVESTMENTS INTO CHARTER SCHOOL DEVELOPMENT PROJECTS IN NEW YORK.

  • PROVIDE LOANS AND INVESTMENTS TO CHARTER SCHOOLS DEVELOPMENT PROJECTS IN NEW YORKAN INVESTMENT WAS MADE INTO A CHARTER SCHOOL DEVELOPMENT PROJECT LOCATED AT 2390 PITKIN AVENUE, BROOKLYN, NY. CONSTRUCTION OF THIS PROJECT IS SCHEDULED TO BE COMPLETE IN 2023.

    Expenses $643,341 · Revenue $970,464

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DAVID UMANSKY

    PRESIDENT

    Total calculated
    $555,342
    From this org
    $510,684
    From related orgs
    $0
    Other
    $44,658
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $390,684
    Bonus
    $120,000
    Other
    $0
    Deferred
    $13,200
    Nontaxable benefits
    $31,458
    Filer's total
    $555,342

  • SIMONE BRODY

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • DAVID LOO

    SECRETARY & TREASURER

    Total calculated
    $0
    Hours/week
    1

  • KHARY BARNES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RON BEIT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRAHM CRAMER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GENGER CHARLES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALAN SAGE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUSIE MILLER CARELLO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KEITH RAND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • J DAVID SWEENY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VIPUL TANDON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • EBEN ELLERTSON

    DIRECTOR THRU DEC 2023

    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

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CIVIC SHERMAN LLC

    TO FURTHER THE CHARITABLE PURPOSES OF CIVIC BUILDERS, INC. · NY · income $497,661 · assets $35,978,964

    Directly controlled by CIVIC NYC FUND INC

  • CIVIC SB LLC

    TO FURTHER THE CHARITABLE PURPOSES OF CIVIC BUILDERS, INC. · NY · income $223,885 · assets $47,875,793

    Directly controlled by CIVIC NYC FUND INC

Provenance

Return type
form_990
Tax year
2023
Filed
20 September 2024
IRS schema version
2023v5.1
Source object
202442649349300004

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.