Ilead Experience INC FY2022 filing

Tax-deductible

Brooklyn, NY501(c)(3)Youth DevelopmentEIN 82-4338417

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501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 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
$1.1M
352% of total assets
Concern: liabilities are 352% 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
$680K
+106% vs prior year
Spent
$995K
To programs
91%
Net assets
−$766K
By yearFY2020–FY2024
Revenue
$680K
FY2022▲ +106%
Revenue by fiscal year
FY2020$72K
FY2021$329K
FY2022$680K
FY2023$695K
FY2024$402K
Expenses
$995K
FY2022▲ +97%
Expenses by fiscal year
FY2020$120K
FY2021$504K
FY2022$995K
FY2023$817K
FY2024$474K
Net assets
−$766K
FY2022▼ -87%
Net assets by fiscal year
FY2020−$235K
FY2021−$410K
FY2022−$766K
FY2023−$834K
FY2024−$852K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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

91 cents of each dollar spent went to programs.

Program services 91% · $910K Management & general 9% · $86K

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

2 people listed on the 990.

Part VII, Section A · reportable compensation
$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.

Provided by the organization

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1 program service account for $910K of program spending, described in the organization's own filed words · FY2022.
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.

$910Kprogram expense

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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
Total grants receivedfrom 3 funders$49K
See all 3 funders →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$680K
Ln 12
Fees for servicesLn 2g$653K
Gifts and grantsLn 1h$26K
Investment incomeLn 3$1K
Money outPt IX
$995K
Ln 25
Programscol B$910K
Managementcol C$86K
Owns and owesPt X
−$766K
net assets · Ln 32
Cash and savingsLn 1–2$90K
Total assetsLn 16$305K
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$26K
Fees for servicesLn 2g$653K
Investment incomeLn 3$1K
Total revenueLn 12$680K
Assets in detailPt X, end of year
CashLn 1$90K
Cash and savings togetherLn 1–2$90K
InvestmentsLn 11–13$161K
Total assetsLn 16$305K
LiabilitiesLn 26$1.1M
Net assetsLn 32−$766K
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 FY22End FY22
Cash and savingsLn 1–2$96K$90K
InvestmentsLn 11–13$0$161K
Total assetsLn 16$110K$305K
LiabilitiesLn 26$520K$1.1M
Net assetsLn 32−$410K−$766K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$16K$16K
Accounting feesLn 11c$22K$22K
Office expensesLn 13$31K$31K
TravelLn 17$13K$13K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$909K$896K$12K
All other expensesLn 24e$170$170
Total functional expensesLn 25$995K$910K$86K$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 Viewing $680K$995K−$316K−$766K 990 PDF
FY2021 $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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $679,552 across 5 lines filed
VIII-1f All other contributions, gifts and grants$25,755
VIII-1h Total contributions, gifts and grants$25,755
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $652,613$652,613
VIII-3 Investment incomeRelated to mission $1,184$1,184
VIII-12 Total revenueRelated to mission $653,797 · Unrelated business $0 · Excluded from tax $0$679,552
Part IX · Statement of functional expenses $995,479 across 7 lines filed
IX-7 Other salaries and wagesManagement $16,318$16,318
IX-11c Accounting feesManagement $22,250$22,250
IX-13 Office expensesManagement $30,544$30,544
IX-17 TravelPrograms $13,126$13,126
IX-23 InsuranceManagement $4,335$4,335
IX-24 Other expenses (24a–d)Programs $896,384 · Management $12,352$908,736
IX-24e All other expensesManagement $170$170
IX-25 Total functional expensesPrograms $909,510 · Management $85,969 · Fundraising $0$995,479
Part X · Balance sheet $304,538 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $95,649$90,157
X-3 Pledges and grants receivableStart of year $14,385$44,466
X-9 Prepaid expenses and deferred chargesStart of year $0$9,000
X-11 Publicly traded securitiesStart of year $0$160,915
X-16 Total assetsStart of year $110,034$304,538
X-17 Accounts payable and accrued expensesStart of year $20,000$2,500
X-25 Other liabilitiesStart of year $499,900$1,068,100
X-26 Total liabilitiesStart of year $519,900$1,070,600
X-27 Net assets without donor restrictionsStart of year −$409,866−$766,062
X-32 Total net assets or fund balancesStart of year −$409,866−$766,062
X-33 Total liabilities and net assetsStart of year $110,034$304,538
Part XI · Reconciliation of net assets −$766,062 net assets at year end
XI-1 Total revenue$679,552
XI-2 Total expenses$995,479
XI-3 Revenue less expenses−$315,927
XI-4 Net assets at start of year−$409,866
XI-5 Net unrealized gains (losses) on investments−$40,269
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$766,062

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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