Hanyc Foundation INC

Tax-deductible

New York, NY501(c)(3)Public Safety & DisasterEIN 83-3283722

The Foundation focuses on three areas:1.Education, by providing scholarships to students who will pursue an associate's or bachelor's degree program in Hospitality2. Crisis relief, by providing short-term hotel stays to individuals experiencing unexpected hardships and3. Efforts to combat Human Trafficking, by providing training to the hotel industry. This will include partnering with individuals and other organizations in order to provide an overview of sex and labor trafficking and their impact on the hotel industry, to discuss common indicators of human trafficking and case examples, to give action steps on how to respond to and prevent human trafficking.The Foundation will organize fundraising events such as an annual Golf Outing and an annual Red Carpet Hospitality Gala, where all proceeds beyond expenses will go directly to the Foundation. We will also organize educational and similar seminars focused on our efforts related to Human Trafficking.

501(c)(3) charity; gifts are tax-deductible.
97¢ 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 5
filings with a surplus
Average surplus $436K a year · 53% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
24 mo
of spending, in cash
Looks good: 23.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $10K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$9.9M
81% of total assets
Concern: liabilities are 81% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 14 voting members
Looks good: 13 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
+29% vs prior year
Spent
$973K
To programs
97%
Net assets
$2.3M
By yearFY2020–FY2024
Revenue
$2.1M
FY2024▲ +29%
Revenue by fiscal year
FY2020$11K
FY2021$20K
FY2022$385K
FY2023$1.6M
FY2024$2.1M
Expenses
$973K
FY2024▲ +46%
Expenses by fiscal year
FY2020$65K
FY2021$62K
FY2022$136K
FY2023$667K
FY2024$973K
Net assets
$2.3M
FY2024▲ +86%
Net assets by fiscal year
FY2020$103K
FY2021$60K
FY2022$309K
FY2023$1.3M
FY2024$2.3M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

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

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $944K Management & general 3% · $29K

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

Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Chairperson
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Hanyc Foundation 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 scholarships, crisis hotel stays, and anti-trafficking training for the hospitality industry.

Provided by the organization

This section is blank until Hanyc Foundation INC claims this page.

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3 program services account for $944K of program spending, described in the organization's own filed words · FY2024.
01

Asylum Seeker Hotel Support

On December 21, 2022, the Foundation entered into an agreement (the Agreement) with the City of New York through its Department of Homeless Services (DHS) to act as a third-party administrator to assist DHS with booking, managing, tracking, Reporting, and invoicing for hotels service for the emergency procurement of shelter services…

$896Kprogram expense
02

Scholarships Granted

The Foundation provides scholarships for students pursuing an associates or bachelorsdegree in hotel management, human trafficking training for Association members and their staff and hotel stays to individuals and families during unanticipated hardship and crisis.

$26Kprogram expense
03

Community Assistance

Contrbutions to charitable organizations whose missions align with that of hanyc foundation, inc.

$23Kprogram 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 · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$10K
Grants paid · 9 grants · $208K · 2020–2024
Unitemized GrantFY2024$25,850
Cm Linda Lee Fire VictimsFY2024$7,700
Unitemized GrantFY2023$28,350
Citymeals-On-WheelsNY · FY2023$10,000
Unitemized GrantFY2022$43,200
Restore Nyc INCNY · FY2022$20,000
Unitemized GrantFY2021$31,850
Unitemized GrantFY2020$30,600

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.1M
Ln 12
Fees for servicesLn 2g$1.9M
Investment incomeLn 3$72K
Gifts and grantsLn 1h$70K
Money outPt IX
$973K
Ln 25
Programscol B$944K
Managementcol C$29K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$12.2M
LiabilitiesLn 26$9.9M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$70K
Fees for servicesLn 2g$1.9M
Investment incomeLn 3$72K
Other incomeLn 4–11$50K
Gains on assetsLn 7−$108K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$1.9M
SavingsLn 2$0
Cash and savings togetherLn 1–2$1.9M
InvestmentsLn 11–13$10.2M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$4K
Total assetsLn 16$12.2M
LiabilitiesLn 26$9.9M
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 50
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 FY24End FY24
Cash and savingsLn 1–2$572K$1.9M
InvestmentsLn 11–13$213K$10.2M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$1.5M$12.2M
LiabilitiesLn 26$211K$9.9M
Net assetsLn 32$1.3M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$23K$23K
Grants to domestic individualsLn 2$26K$26K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$333K$333K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$29K$29K
Management feesLn 11a$338K$338K
Legal feesLn 11b$146K$146K
Accounting feesLn 11c$29K$29K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$9K$9K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$10K$10K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$12K$12K
All other expensesLn 24e$0
Total functional expensesLn 25$973K$944K$29K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $2.1M$973K$1.1M$2.3M 990 PDF
FY2023 $1.6M$667K$932K$1.3M 990 PDF
FY2022 $385K$136K$249K$309K 990 PDF
FY2021 $20K$62K−$42K$60K 990 PDF
FY2020 $11K$65K−$54K$103K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $2,066,132 across 9 lines filed
VIII-1f All other contributions, gifts and grants$69,500
VIII-1h Total contributions, gifts and grants$69,500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,875,000$1,875,000
VIII-3 Investment incomeRelated to mission $180,261$180,261
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$108,193−$108,193
VIII-8 Net income from fundraising eventsExcluded from tax $49,564$49,564
VIII-12 Total revenueRelated to mission $2,055,261 · Excluded from tax −$58,629$2,066,132
Part IX · Statement of functional expenses $972,780 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $22,822$22,822
IX-2 Grants to domestic individualsPrograms $25,850$25,850
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $332,991$332,991
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $28,674$28,674
IX-11a Management feesPrograms $337,662$337,662
IX-11b Legal feesPrograms $145,798$145,798
IX-11c Accounting feesManagement $28,600$28,600
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionPrograms $7,303$7,303
IX-13 Office expensesPrograms $8,503$8,503
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $9,562$9,562
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $12,928$12,928
IX-24 Other expenses (24a–d)Programs $12,087$12,087
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $944,180 · Management $28,600 · Fundraising $0$972,780
Part X · Balance sheet $12,196,072 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $571,736$1,915,476
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $665,517$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $12,522$72,610
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $212,621$10,203,891
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$4,095
X-16 Total assetsStart of year $1,462,396$12,196,072
X-17 Accounts payable and accrued expensesStart of year $203,975$9,862,213
X-18 Grants payableStart of year $7,500$7,500
X-26 Total liabilitiesStart of year $211,475$9,869,713
X-27 Net assets without donor restrictionsStart of year $1,210,702$2,311,990
X-28 Net assets with donor restrictionsStart of year $40,219$14,369
X-32 Total net assets or fund balancesStart of year $1,250,921$2,326,359
X-33 Total liabilities and net assetsStart of year $1,462,396$12,196,072
Part XI · Reconciliation of net assets $2,326,359 net assets at year end
XI-1 Total revenue$2,066,132
XI-2 Total expenses$972,780
XI-3 Revenue less expenses$1,093,352
XI-4 Net assets at start of year$1,250,921
XI-5 Net unrealized gains (losses) on investments−$5,105
XI-7 Investment expenses−$12,809
XI-10 Net assets at end of year$2,326,359

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

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