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Gary Klausner Chesed Fund INC

Tax-deductible

Passaic, NJ501(c)(3)Food & Agriculture EIN 22-3598564Revenue $1.3M in FY2024

On file with the IRS242 High St, 07055-4623 · Passaic, NJTax-exempt since Apr 1999Publicly supported charity — 170(b)(1)(A)(vi)

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To raise funds in order to provide food and financial assistance to needy individuals and families residing in the Passaic-Clifton area.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $148K a year · 12% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 9.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $363K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
+33% vs prior year
Spent
$1.3M
To programs
99%
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$1.3M
FY2024▲ +33%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.7M
FY2021$1.1M
FY2022$951K
FY2024$1.3M
Expenses
$1.3M
FY2024▲ +73%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$967K
FY2022$770K
FY2024$1.3M
Net assets
$1.1M
FY2024▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$666K
FY2021$807K
FY2022$988K
FY2024$1.1M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1999.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $1.3M Management & general 1% · $8K Fundraising 0% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Yonah Feder
Secetary
$0Pt VII · Sec A
$0Pt VII · Sec A
Eli Stoll
Treasurer
$0Pt VII · Sec A
Yona Katz
Vice President
$0Pt VII · Sec A
See Gary Klausner Chesed Fund INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides food and financial aid to local individuals and families in need.

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Provided by the organization

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3 programs · $1.3M · in their own filed words · FY2023
01

To raise funds in order to purchase food and other essentials to be distributed to needy individuals residing in the Passaic-Clifton area.

$741Kprogram expense
02

To provide critical financial assistance to needy families

$358Kprogram expense
03

To subsidize the cost of summer camp for qualified families

$218Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$189K
Jewish Communal FundFY2024$155K
The Ojc FundFY2024$13K
Donor Advised Charitable Giving INCFY2024$7K
Total grants receivedfrom 4 funders$363K
See all 4 funders →
Grants paid · 7 grants · $3.6M · 2019–2023
Unitemized GrantFY2023$876,992
Kool Kids Passaic INCNJ · FY2023$35,000
Ahavas ChesedNY · FY2023$25,000
Passaic Chill INCNJ · FY2023$15,000
Unitemized GrantFY2021$673,758
Unitemized GrantFY2020$771,511
Unitemized GrantFY2019$1,153,051

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$14K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.3M
Managementcol C$8K
Fundraisingcol D$4K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.0M
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$14K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$535K
SavingsLn 2$514K
Cash and savings togetherLn 1–2$1.0M
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.1M$1.0M
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.1M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$75K$75K
Grants to domestic individualsLn 2$1.2M$1.2M
Advertising and promotionLn 12$4K$4K
Other expenses (24a–d)Ln 24$13K$5K$8K
All other expensesLn 24e$825$825
Total functional expensesLn 25$1.3M$1.3M$8K$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.3M$1.3M−$64K$1.1M 990 PDF
FY2023 Not on file
FY2022 $951K$770K$181K$988K 990 PDF
FY2021 $1.1M$967K$141K$807K 990 PDF
FY2020 $1.7M$1.4M$332K$666K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,264,944 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,122,989$1,250,786
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $6,568$14,158
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,129,557$1,264,944
I-13 Grants and similar amounts paidPrior year $973,369$1,311,002
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $23,019$18,238
I-18 Total expensesPrior year $996,388$1,329,240
I-19 Revenue less expensesPrior year $133,169−$64,296
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,264,944 across 4 lines filed
VIII-1f All other contributions, gifts and grants$1,250,786
VIII-1h Total contributions, gifts and grants$1,250,786
VIII-3 Investment incomeUnrelated business $14,158$14,158
VIII-12 Total revenueRelated to mission $0 · Unrelated business $14,158 · Excluded from tax $0$1,264,944
Part IX · Statement of functional expenses $1,329,240 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $75,000$75,000
IX-2 Grants to domestic individualsPrograms $1,236,002$1,236,002
IX-12 Advertising and promotionFundraising $4,350$4,350
IX-24 Other expenses (24a–d)Programs $5,462 · Management $7,601$13,063
IX-24e All other expensesManagement $825$825
IX-25 Total functional expensesPrograms $1,316,464 · Management $8,426 · Fundraising $4,350$1,329,240
Part X · Balance sheet $1,057,173 assets, 7 lines filed
Asset lines not itemized here account for $8,100; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $621,469$534,915
X-2 Savings and temporary cash investmentsStart of year $500,000$514,158
X-16 Total assetsStart of year $1,121,469$1,057,173
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,121,469$1,057,173
X-32 Total net assets or fund balancesStart of year $1,121,469$1,057,173
X-33 Total liabilities and net assetsStart of year $1,121,469$1,057,173
Part XI · Reconciliation of net assets $1,057,173 net assets at year end
XI-1 Total revenue$1,264,944
XI-2 Total expenses$1,329,240
XI-3 Revenue less expenses−$64,296
XI-4 Net assets at start of year$1,121,469
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,057,173

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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