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The Reece Foundation Corp

Tax-deductible

New York, NY501(c)(3)Since 2017Foundations & Grantmakers EIN 82-2408511Revenue $232K in FY2025

On file with the IRS25 E 104th St, 10029-4402 · New York, NYTax-exempt since Feb 2017Supporting organization — 509(a)(3)

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The Reece Foundation is a nonprofit organization that manages an endowment fund, raises new monies and governs over a network of mission based services which assist children with autism, learning disabilities and special needs in partnership with the Reece school.

501(c)(3) charity; gifts are tax-deductible.
51¢ of each $1 spent went to programs.
Run by 8 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $47K a year · 19% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
51%
of spending
Worth a look: 51% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $17K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.1M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$232K
-33% vs prior year
Spent
$279K
To programs
51%
Net assets
$174K
By yearFY2020–FY2025
Revenue
$232K
FY2025▼ -33%
Tap a bar for its year
Revenue by fiscal year
FY2020$133K
FY2021$111K
FY2022$213K
FY2023$462K
FY2024$347K
FY2025$232K
Expenses
$279K
FY2025▼ -34%
Tap a bar for its year
Expenses by fiscal year
FY2020$394K
FY2021$108K
FY2022$316K
FY2023$259K
FY2024$423K
FY2025$279K
Net assets
$174K
FY2025▼ -21%
Tap a bar for its year
Net assets by fiscal year
FY2020−$241K
FY2021−$239K
FY2022−$61K
FY2023$142K
FY2024$221K
FY2025$174K

From the FY2025 Form 990 (year ending June 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2017.

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

Where the money goes

51 cents of each dollar spent went to programs.

Program services 51% · $142K Management & general 49% · $136K Fundraising 0% · $1K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Mark Magill
Secretary
$0Pt VII · Sec A
Bella Canarte
Treasurer
$0Pt VII · Sec A
Jeffy Benedict
Board Member
$0Pt VII · Sec A
Greg Taylor
Board Member
$0Pt VII · Sec A
Duncan Lester
Executive Director
$0Pt VII · Sec A
Paulo Souza
Chief Financial Officer
$0Pt VII · Sec A
See The Reece Foundation Corp 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

Helps children with learning disabilities and special needs.

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Provided by the organization

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1 program · $142K · in their own filed words · FY2024
01

The reece foundation governs over a network of mission based services which assist children with autism, learning disabilities and special needs in partnership with the reece school. These services include camp reece, a summer camp program, and an after school program for students of the reece school.

$142Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$17K
Total grants receivedfrom 1 funder$17K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$232K
Ln 12
Fees for servicesLn 2g$165K
Gifts and grantsLn 1h$55K
Other incomeLn 4–11$12K
Money outPt IX
$279K
Ln 25
Programscol B$142K
Managementcol C$136K
Fundraisingcol D$1K
Owns and owesPt X
$174K
net assets · Ln 32
Cash and savingsLn 1–2$162K
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.1M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$55K
Fees for servicesLn 2g$165K
Other incomeLn 4–11$12K
Total revenueLn 12$232K
Assets in detailPt X, end of year
CashLn 1$162K
Cash and savings togetherLn 1–2$162K
Land, buildings, equipmentLn 10c$2.1M
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.1M
Net assetsLn 32$174K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$65K$162K
Land, buildings, equipmentLn 10c$2.1M$2.1M
Total assetsLn 16$2.2M$2.2M
LiabilitiesLn 26$2.0M$2.1M
Net assetsLn 32$221K$174K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$20K$6K$14K$1K
OccupancyLn 16$32K$5K$27K
TravelLn 17$4K$313$4K
InterestLn 20$48K$14K$33K
Depreciation, depletion and amortizationLn 22$67K$20K$47K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$97K$89K$8K
All other expensesLn 24e$6K$6K
Total functional expensesLn 25$279K$142K$136K$1K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $232K$279K−$47K$174K 990 PDF
FY2024 $347K$423K−$75K$221K 990 PDF
FY2023 $462K$259K$203K$142K 990 PDF
FY2022 $213K$316K−$103K−$61K 990 PDF
FY2021 $111K$108K$2K−$239K 990 PDF
FY2020 $133K$394K−$261K−$241K 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 FY2025 990 (6 parts)
Part I · Summary $232,001 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $127,291$54,716
I-9 Program service revenuePrior year $187,775$165,285
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $32,260$12,000
I-12 Total revenuePrior year $347,326$232,001
I-13 Grants and similar amounts paidPrior year $0$0
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 $422,723$278,756
I-18 Total expensesPrior year $422,723$278,756
I-19 Revenue less expensesPrior year −$75,397−$46,755
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $232,001 across 5 lines filed
VIII-1f All other contributions, gifts and grants$54,716
VIII-1h Total contributions, gifts and grants$54,716
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $165,285$165,285
VIII-6 Net rental income or lossExcluded from tax $12,000$12,000
VIII-12 Total revenueRelated to mission $165,285 · Unrelated business $0 · Excluded from tax $12,000$232,001
Part IX · Statement of functional expenses $278,756 across 9 lines filed
IX-12 Advertising and promotionPrograms $1,987$1,987
IX-13 Office expensesPrograms $5,668 · Management $13,592 · Fundraising $1,112$20,372
IX-16 OccupancyPrograms $4,924 · Management $26,887$31,811
IX-17 TravelPrograms $313 · Management $3,824$4,137
IX-20 InterestPrograms $14,355 · Management $33,494$47,849
IX-22 Depreciation, depletion and amortizationPrograms $20,106 · Management $46,915$67,021
IX-23 InsuranceManagement $2,592$2,592
IX-24 Other expenses (24a–d)Programs $89,086 · Management $8,298$97,384
IX-24e All other expensesPrograms $5,603$5,603
IX-25 Total functional expensesPrograms $142,042 · Management $135,602 · Fundraising $1,112$278,756
Part X · Balance sheet $2,233,590 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $65,102$162,241
X-4 Accounts receivableStart of year $0$12,734
X-10c Land, buildings and equipment, netStart of year $2,115,719$2,058,615
X-16 Total assetsStart of year $2,180,821$2,233,590
X-17 Accounts payable and accrued expensesStart of year $127,803$10,551
X-19 Deferred revenueStart of year $134,898$181,676
X-25 Other liabilitiesStart of year $1,086,897$1,271,135
X-26 Total liabilitiesStart of year $1,959,822$2,059,346
X-27 Net assets without donor restrictionsStart of year $220,999$174,244
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $220,999$174,244
X-33 Total liabilities and net assetsStart of year $2,180,821$2,233,590
Part XI · Reconciliation of net assets $174,244 net assets at year end
XI-1 Total revenue$232,001
XI-2 Total expenses$278,756
XI-3 Revenue less expenses−$46,755
XI-4 Net assets at start of year$220,999
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$174,244

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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