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← MANFRED AND FERN STEINFELD FAMILY FOUNDATION

Form 990 for tax year 2022

Filed by MANFRED AND FERN STEINFELD FAMILY FOUNDATION.

Totals

Total revenue
$589,851
Total expenses
$554,228
Contributions and grants received
$581,634
Grants paid
$550,555
Program service revenue
$0
Investment income
$8,217
Other revenue
$0
Total assets, end of year
$84,100
Total liabilities, end of year
$3,650
Net assets or fund balances, end of year
$80,450
Program services expenses (Part IX)
$550,555
Management and general expenses
$3,673
Fundraising expenses
$0
Program service expenses (Part III)
$550,555

Program services were 99.3% 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

    $581,634

  • 1g · Noncash contributions included above

    $581,634

  • 3 · Investment income

    total $2,767 · excluded $2,767

  • 7a · Gross sales of assets other than inventory

    securities $5,450

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

    securities $0

  • 7c · Gain or loss

    securities $5,450

  • 7d · Net gain or loss

    total $5,450 · excluded $5,450

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $550,555 · program services $550,555

  • 11c · Fees: accounting

    total $3,650 · management and general $3,650

  • 11g · Fees: other

    total $13 · management and general $13

  • 24a · Other expenses: Filing Fee

    total $10 · management and general $10

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $48,427 · end of year $84,100

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,600 · end of year $3,650

  • 27 · Net assets without donor restrictions

    beginning of year $44,827 · end of year $80,450

Mission and programs · 2022

Mission

The Foundation is organized to foster, promote, support, develop, and maintain the broad, charitable, educational or religious purposes or functions as authorized by the charter of the Jewish Federation of Metropolitan Chicago and the by-laws of the Foundation.

Activities or mission (Part I)

The Foundation is organized to foster, promote, support, develop, and maintain the broad, charitable, educational or religious purpose or functions as authorized by the charter of the Jewish Federation of Metropolitan Chicago and the by-laws of the Foundation.

  • The Foundation makes grants to charitable organizations which are tax exempt under the IRC Section 501(c)(3) and meet the guidelines of the charter of the Jewish Federation of Metropolitan Chicago and the by-laws of the Foundation.

    Expenses $550,555 · Grants $550,555

As filed on the 2022 return.

Listed in Part VII

  • David S Rosen

    Secretary

    Total calculated
    $701,246
    From this org
    $0
    From related orgs
    $645,663
    Other
    $55,583
    Hours/week
    0.3 + 49.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $402,943 related
    Bonus
    $0
    Other
    $0 + $242,720 related
    Deferred
    $0 + $39,289 related
    Nontaxable benefits
    $0 + $17,070 related
    Filer's total
    $0 + $702,022 related

  • Dr Steven B Nasatir

    Vice President

    Total calculated
    $581,288
    From this org
    $0
    From related orgs
    $547,025
    Other
    $34,263
    Hours/week
    0.3 + 37.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $468,992 related
    Bonus
    $0
    Other
    $0 + $78,033 related
    Deferred
    $0 + $18,449 related
    Nontaxable benefits
    $0 + $16,208 related
    Filer's total
    $0 + $581,682 related

  • Jay Tcath

    Treasurer

    Total calculated
    $476,924
    From this org
    $0
    From related orgs
    $355,406
    Other
    $121,518
    Hours/week
    0.3 + 49.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $352,226 related
    Bonus
    $0
    Other
    $0 + $3,180 related
    Deferred
    $0 + $108,331 related
    Nontaxable benefits
    $0 + $13,963 related
    Filer's total
    $0 + $477,700 related

  • Fern Steinfeld

    President

    Total calculated
    $0
    Hours/week
    0.3

  • Max Robert Schrayer II

    Director

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Jill Steinfeld Cunniff

    Director

    Total calculated
    $0
    Hours/week
    0.3

  • Paul Steinfeld

    Director

    Total calculated
    $0
    Hours/week
    0.3

  • Andrea Yablon

    Director

    Total calculated
    $0
    Hours/week
    0.3

  • James A Pinkston

    Assistant Treasurer

    Total calculated
    $343,199
    From this org
    $0
    From related orgs
    $301,042
    Other
    $42,157
    Hours/week
    0.3 + 49.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,875 related
    Bonus
    $0
    Other
    $0 + $167 related
    Deferred
    $0 + $25,803 related
    Nontaxable benefits
    $0 + $17,319 related
    Filer's total
    $0 + $344,164 related

  • Eric Devir

    Assistant Secretary

    Total calculated
    $117,689
    From this org
    $0
    From related orgs
    $97,458
    Other
    $20,231
    Hours/week
    0.3 + 39.7 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 4b
Steven B. Nasatir: In 1999 the Jewish Federation entered into an agreement with Steven Nasatir that was contingent upon 5 more years of service as president and CEO and would result in annual payments of $50,000 per year (net of tax) beginning at age 64 and lasting throughout his lifetime. Dr. Nasatir began receiving payments under this agreement in 2009. During 2012, the Jewish Federation entered into a second agreement with Steven Nasatir which provides for annual payments of $5,000 beginning April 1, 2015 and lasting throughout his lifetime. Dr. Nasatir vested in the following benefits: Benefit payments from the aforementioned agreements will continue for the longer of 1) 10 years through December 2028 or 2) his lifetime. In the event of his death prior to 2029, payments will be made to Dr. Nasatir's beneficiary. The $50,000 and $5,000 annual payment amounts are to be adjusted annually in accordance with the CPI index. In 2017, the Jewish Federation entered into a third agreement with Steven Nasatir which provides for annual payments of $21,000 per year, beginning in 2018, for the longer of his lifetime or ten years (through December 2027). In 2022, Steven Nasatir received payments totaling $109,776 from the three supplemental non-qualified retirement plans. David S. Rosen: The Jewish Federation has an agreement with David Rosen which provides for annual payments of $25,000 per year that began in 2018 and will end in 2028. In 2017, the Jewish Federation entered into a second agreement with David Rosen which provides for annual payments of $25,000 that began in 2022 and will end in 2032. David Rosen vested in this benefit in 2022 and the present value of these future benefit payments, which was $207,139 is included in his 2022 reportable compensation. This amount was not paid out in cash to David Rosen in 2022. It represents a one-time actuarially determined figure that is taxable in accordance with the Internal Revenue Code. JUF has an agreement with Jay Tcath that provides for annual payments of $25,000 for 10 years commencing upon his retirement from JUF or if he is no longer employed by JUF, upon reaching age 64. In July 2018, JUF entered a split dollar life insurance agreement with Jay Tcath that will provide a death benefit of $625,000 if he maintains his employment at JUF through June 2023. In addition, JUF and Mr. Tcath entered into another agreement that will provide 15 annual payments of approximately $33,000 per year starting in 2024 and ending in 2038.

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Charitable Remainder Unitrusts (19)

    T · Charitable Trust · IL · controlled entity

    Directly controlled by Jewish Federation of Metropolitan Chicago

  • Charitable Remainder Annuity Trusts (3)

    T · Charitable Trust · IL · controlled entity

    Directly controlled by Jewish Federation of Metropolitan Chicago

Provenance

Return type
form_990
Tax year
2022
Filed
2 May 2024
IRS schema version
2022v5.0
Source object
202421279349303702

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