David M Herskovits Foundation EIN 87-2224912 Form 990 (PDF) Claim this org

David M Herskovits Foundation FY2023 filing

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Provides mentorship and scholarship grants for STEM education. For fiscal year 2023 it reported $155K in revenue, $51K in expenses, and $205K in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Boca Raton, FL
Website
thedmhfoundation.org
Filings
3 on file (2022–2023)
Revenue
$155KFY2023
Expenses
$51K
Net assets
$205K
People
6
Filings
3
Updates
0
More identity details & actions ⌄
EIN  87-2224912 Public charity (501(c)(3)) Boca Raton, FL
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
<$100K
What they do
Provides mentorship and scholarship grants for STEM education.
Leadership
Rita Herskovits · Trustee
Money in and out
$155K revenue, $51K expenses
Bottom line
58% program efficiency
Where the money goes · FY2023
Total revenue
$155K
Pt VIII · Ln 12
Total expenses
$51K
Pt IX · Ln 25
Net assets
$205K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $104K
Where spending went · Part IX cols B–D
Program services $0.58 Management & general $0.04 Fundraising $0.38
Program efficiency
58%
of spending reaches programs
Operating runway
48.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+67%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$155K
FY2023▲ +29%
Expenses
$51K
FY2023▲ +170%
Total assets
$205K
FY2023▲ +103%
Total liabilities
$0
FY2023
Total revenue
$155K
Pt VIII · Ln 12
Total expenses
$51K
Pt IX · Ln 25
Net assets
$205K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$104K
Total assetsPt X · Ln 16$205K
Program-expense ratioPt IX · col B58%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $30K of program spending, described in the organization's own filed words · FY2023.
01

Funded STEM Education DSY FAU Solar Roller Discovery Place Syracuse & Madatech

$30Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CDavid M Herskovits Foundation
EINHdr · item D87-2224912
Principal addressHdr · item CBoca Raton, FL
WebsiteHdr · item Jthedmhfoundation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MFL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B90)
Ruling yearIRS BMFDec 2021

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants100%$155K
Total revenueLn 12$155K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.58 Management & general $0.04 Fundraising $0.38
Program services58%$30K
Management & general4%$2K
Fundraising38%$20K
Total functional expensesLn 25$51K

Balance Sheet

Part X · end of year
CashLn 1$205K
Total assetsLn 16$205K
Total liabilitiesLn 26$0
Total net assetsLn 32$205K
Months of cash on handcomputed48.0

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $205K · Operating expenses/yr $51K
48.0 months
Where the money goes
Program services
Program services $30K · Total expenses $51K
58%
Management & General
Management & general $2K · Total expenses $51K
4%
Fundraising
Fundraising $20K · Total expenses $51K
38%
Cost to raise $1
Fundraising expense (2-yr avg) $10K · Solicited contributions (2-yr avg) $137K
$0.07 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $155K · Total revenue $155K
100%
Government reliance
Government grants $0 · Total revenue $155K
0%
Earned-income share
Program service revenue $0 · Total revenue $155K
0%
Investment reliance
Investment income $0 · Total revenue $155K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $51K
0%
Growth & trend
Revenue growth (YoY)
This year $155K · Prior year $120K
+29%
Net-asset trend (YoY)
End of year $205K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $155K · Expenses $51K
+67%
Liabilities-to-Assets
Total liabilities — · Total assets $205K
Net-asset ratio
Net assets $205K · Total assets $205K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $205K
0%
People & payroll
Highest Reported Total Compensation
Individual Rita Herskovits · Reported title Trustee · Highest reported compensation $0 · Total expenses $51K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $51K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 58%
Overhead ratio 4%
Fundraising cost ratio 13%
Revenue growth 29%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$8K
Grants paid · 6 grants · $30K · 2023–2023
Syracuse UniversityNY · FY2023$5,000
Discovery Place INCNC · FY2023$5,000
Fau Stiles Nicholson Stem Teacher AcademyFY2023$5,000
All Stars Project INCNY · FY2023$5,000
Solar Energy - Energetics EdFY2023$4,500

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$90K revenue · ⤓ 990 PDF
FY2023$155K revenue · viewing · ⤓ 990 PDF
FY2022$120K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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