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Nonprofiteer
← LA GUARDIA EDUCATION FUND INCORPORATED

Form 990 for tax year 2022

Filed by LA GUARDIA EDUCATION FUND INCORPORATED.

Totals

Total revenue
$349,160
Total expenses
$218,445
Contributions and grants received
$81,421
Grants paid
$500
Program service revenue
$224,966
Investment income
$42,773
Other revenue
$0
Total assets, end of year
$1,802,318
Total liabilities, end of year
$18,939
Net assets or fund balances, end of year
$1,783,379
Program services expenses (Part IX)
$205,119
Management and general expenses
$13,326
Fundraising expenses
$0
Program service expenses (Part III)
$205,119

Program services were 93.9% 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.

  • 1e · Government grants (contributions)

    $81,000

  • 1f · All other contributions, gifts and grants

    $421

  • 2a · Program service revenue: NY DESIGNS PROGRAM

    total $188,527 · related or exempt $188,527

  • 2b · Program service revenue: PDA-INTERPRETING SERVI

    total $32,892 · related or exempt $32,892

  • 2c · Program service revenue: NY DESIGNS PROTOTYPE L

    total $3,399 · related or exempt $3,399

  • 2d · Program service revenue: MISCELLANEOUS INCOME

    total $148 · related or exempt $148

  • 3 · Investment income

    total $20,708 · excluded $20,708

  • 7a · Gross sales of assets other than inventory

    securities $22,065

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

    securities $0

  • 7c · Gain or loss

    securities $22,065

  • 7d · Net gain or loss

    total $22,065 · excluded $22,065

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $500 · program services $500

  • 11b · Fees: legal

    total $3,000 · management and general $3,000

  • 11c · Fees: accounting

    total $275 · management and general $275

  • 23 · Insurance

    total $6,453 · management and general $6,453

  • 24a · Other expenses: INCUBATOR PROGRAM

    total $71,754 · program services $71,754

  • 24b · Other expenses: PDA - INTERPRETING SERV

    total $39,459 · program services $39,459

  • 24c · Other expenses: DIVISION OF ADMINISTRAT

    total $32,310 · program services $32,310

  • 24d · Other expenses: NY DESIGNS LAB

    total $25,263 · program services $25,263

  • 24e · All other expenses

    total $39,431 · program services $35,833 · management and general $3,598

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $122,576 · end of year $273,180

  • 2 · Savings and temporary cash investments

    beginning of year $106,202 · end of year $88,303

  • 4 · Accounts receivable

    beginning of year $8,480 · end of year $25,464

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,068 · end of year $1,976

  • 12 · Investments: other securities

    beginning of year $1,387,157 · end of year $1,413,395

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,146 · end of year $18,939

  • 27 · Net assets without donor restrictions

    beginning of year $1,219,651 · end of year $1,298,573

  • 28 · Net assets with donor restrictions

    beginning of year $393,686 · end of year $484,806

Mission and programs · 2022

Mission

THE LAGUARDIA EDUCATION FUND, INC. WAS ORGANIZED TO ADMINISTER PRIVATE FOUNDATION GRANTS AND CONTRIBUTIONS FOR THE BENEFIT OF THE STUDENTS OF LAGUARDIA COMMUNITY COLLEGE. THE EDUCATION FUND ORGANIZES AND MANAGES VARIOUS PROGRAMS DESIGNED TO SUPPLEMENT THE COLLEGE COURSES.

Activities or mission (Part I)

THE LAGUARDIA EDUCATION FUND, INC. WAS ORGANIZED TO ADMINISTER PRIVATE FOUNDATION GRANTS AND CONTRIBUTIONS FOR THE BENEFIT OF THE STUDENTS OF LAGUARDIA COMMUNITY COLLEGE. THIS IS ACCOMPLISHED PRIMARILY BY ORGANIZING AND MANAGING VARIOUS CAREER-ORIENTED PROGRAM SERVICES DESIGNED TO SUPPLEMENT THE COLLEGE COURSES.

  • LAGUARDIA EDUCATION FUND, INC. SUPPORTS LAGUARDIA COMMUNITY COLLEGE IN THE PURSUIT OF EDUCATION EXCELLENCE AND QUALITY SERVICE TO ITS STUDENT COMMUNITY THROUGH THE IMPLEMENTATION OF VARIOUS EDUCATIONAL PROGRAMS.

    Expenses $205,119 · Grants $500 · Revenue $224,966

As filed on the 2022 return.

Listed in Part VII

  • Shahir Erfan

    DIRECTOR

    Total calculated
    $197,723
    From this org
    $0
    From related orgs
    $197,723
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $197,723 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $197,723 related

  • Angelo Delacruz

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Marcus Ezekiel Brazal

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Taranjit Singh

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Nancy Palma

    TREASURER

    Total calculated
    $128,339
    From this org
    $0
    From related orgs
    $128,339
    Other
    $0
    Hours/week
    1

  • Kenneth Adams

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Billie Gastic

    DIRECTOR

    Total calculated
    $80,678
    From this org
    $0
    From related orgs
    $80,678
    Other
    $0
    Hours/week
    1

  • Jay Golan

    DIRECTOR

    Total calculated
    $60,222
    From this org
    $0
    From related orgs
    $60,222
    Other
    $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.

  • LAGUARDIA COMMUNITY COLLEGE

    501(C)(3) · POST-SECONDARY EDUCATION · NY

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202343129349301429

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