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Ilead Experience INC FY2021 filing

Tax-deductible

Brooklyn, NY501(c)(3)Youth DevelopmentEIN 82-4338417Revenue $329K in FY2021

On file with the IRSileadexperience.org1061 Ocean Pkwy, 11230-4006 · Brooklyn, NYTax-exempt since Feb 2019Publicly supported charity — 170(b)(1)(A)(vi)

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501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
0 of 5
filings with a surplus
Average deficit $146K a year · 34% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $49K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$520K
472% of total assets
Concern: liabilities are 472% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$329K
+354% vs prior year
Spent
$504K
To programs
92%
Net assets
−$410K
By yearFY2020–FY2024
Revenue
$329K
FY2021▲ +354%
Tap a bar for its year
Revenue by fiscal year
FY2020$72K
FY2021$329K
FY2022$680K
FY2023$695K
FY2024$402K
Expenses
$504K
FY2021▲ +321%
Tap a bar for its year
Expenses by fiscal year
FY2020$120K
FY2021$504K
FY2022$995K
FY2023$817K
FY2024$474K
Net assets
−$410K
FY2021▼ -74%
Tap a bar for its year
Net assets by fiscal year
FY2020−$235K
FY2021−$410K
FY2022−$766K
FY2023−$834K
FY2024−$852K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2019.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $465K Management & general 8% · $39K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Zeke Abraham
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ilead Experience 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

Ilead Experience INC is a youth development nonprofit based in Brooklyn, NY.

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Provided by the organization

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1 program · $465K · in their own filed words · FY2021
01

Ilead selects candidates at the end of their junior year in high school, who are interested in identifying their personal strengths, and working through their challenges and weaknesses. The program takes place in israel, over five weeks during the summer. The program focuses on physical aptitude and stamina.

$465Kprogram 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$27K
Jewish Communal FundFY2024$16K
Donor Advised Charitable Giving INCFY2024$5K
Total grants receivedfrom 3 funders$49K
See all 3 funders →

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$329K
Ln 12
Fees for servicesLn 2g$238K
Gifts and grantsLn 1h$92K
Money outPt IX
$504K
Ln 25
Programscol B$465K
Managementcol C$39K
Owns and owesPt X
−$410K
net assets · Ln 32
Cash and savingsLn 1–2$96K
Total assetsLn 16$110K
LiabilitiesLn 26$520K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$92K
Fees for servicesLn 2g$238K
Total revenueLn 12$329K
Assets in detailPt X, end of year
CashLn 1$96K
Cash and savings togetherLn 1–2$96K
Total assetsLn 16$110K
LiabilitiesLn 26$520K
Net assetsLn 32−$410K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY21End FY21
Cash and savingsLn 1–2$6K$96K
Total assetsLn 16$45K$110K
LiabilitiesLn 26$280K$520K
Net assetsLn 32−$235K−$410K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$5K$5K
Advertising and promotionLn 12$136$136
Office expensesLn 13$698$698
Information technologyLn 14$1K$1K
TravelLn 17$65K$65K
InterestLn 20$6K$6K
InsuranceLn 23$29K$24K$5K
Other expenses (24a–d)Ln 24$386K$376K$10K
All other expensesLn 24e$12K$12K
Total functional expensesLn 25$504K$465K$39K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $402K$474K−$71K−$852K 990 PDF
FY2023 $695K$817K−$123K−$834K 990 PDF
FY2022 $680K$995K−$316K−$766K 990 PDF
FY2021 Viewing $329K$504K−$175K−$410K 990 PDF
FY2020 $72K$120K−$47K−$235K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $329,135 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $59,863$91,629
I-9 Program service revenuePrior year $12,576$237,506
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $72,439$329,135
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 $119,839$504,103
I-18 Total expensesPrior year $119,839$504,103
I-19 Revenue less expensesPrior year −$47,400−$174,968
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $329,135 across 4 lines filed
VIII-1f All other contributions, gifts and grants$91,629
VIII-1h Total contributions, gifts and grants$91,629
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $237,506$237,506
VIII-12 Total revenueRelated to mission $237,506 · Unrelated business $0 · Excluded from tax $0$329,135
Part IX · Statement of functional expenses $504,103 across 9 lines filed
IX-11c Accounting feesManagement $5,000$5,000
IX-12 Advertising and promotionManagement $136$136
IX-13 Office expensesManagement $698$698
IX-14 Information technologyManagement $1,001$1,001
IX-17 TravelPrograms $65,107$65,107
IX-20 InterestManagement $6,323$6,323
IX-23 InsurancePrograms $24,000 · Management $4,563$28,563
IX-24 Other expenses (24a–d)Programs $375,890 · Management $9,823$385,713
IX-24e All other expensesManagement $11,562$11,562
IX-25 Total functional expensesPrograms $464,997 · Management $39,106 · Fundraising $0$504,103
Part X · Balance sheet $110,034 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $5,959$95,649
X-3 Pledges and grants receivableStart of year $38,653$14,385
X-16 Total assetsStart of year $44,612$110,034
X-17 Accounts payable and accrued expensesStart of year $38,110$20,000
X-25 Other liabilitiesStart of year $149,900$499,900
X-26 Total liabilitiesStart of year $279,510$519,900
X-27 Net assets without donor restrictionsStart of year −$234,898−$409,866
X-32 Total net assets or fund balancesStart of year −$234,898−$409,866
X-33 Total liabilities and net assetsStart of year $44,612$110,034
Part XI · Reconciliation of net assets −$409,866 net assets at year end
XI-1 Total revenue$329,135
XI-2 Total expenses$504,103
XI-3 Revenue less expenses−$174,968
XI-4 Net assets at start of year−$234,898
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$409,866

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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