Fund For Life Foundation Inc
- Assets
- $41.1m
- Revenue
- $1.0m
- Investments
- $36.4m
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 03/1996
- Data as of
- 12/2020
- EIN
- 11-3239215
Organization Overview
Fund For Life Foundation Inc is located in Brooklyn, NY. The organization was established in 1996. According to its NTEE Classification (J32) the organization is classified as: Goodwill Industries, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fund For Life Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Fund For Life Foundation Inc generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Fund For Life Foundation Inc has awarded 200 individual grants totaling $5,432,423. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harry Reichman President | 2 | $0 | |
Simon Reichman Director | 3 | $0 | |
Chaya Reichman Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $36,461 |
| Dividends & Interest | $498,154 |
| Net Rental Income | $48,946 |
| Net Gain on Sale of Assets | $366,419 |
| Capital Gain Net Income | $366,419 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $73,822 |
| Total Revenue | $1,026,606 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $116,121 |
| Pension plans, employee benefits | $0 |
| Interest | $53,444 |
| Taxes | $34,819 |
| Depreciation | $38,586 |
| Occupancy | $197,748 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $16,155 |
| Total operating and administrative expenses | $552,985 |
| Contributions, gifts, grants paid | $1,859,573 |
| Total expenses and disbursements | $2,412,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $687,130 |
| Savings and temporary cash investments | $93,008 |
| Net Accounts receivable | $32,475 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $3,445,101 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,550,926 |
| Net Land, buildings, and equipment | $317,787 |
| Other assets | $167,386 |
| Total assets | $41,149,257 |
| Accounts payable and accrued expenses | $411 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $45,132 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $7,497,334 |
| Total liabilities | $7,542,877 |
Grants Awarded
Over the last fiscal year, Fund For Life Foundation Inc has awarded $1,866,131 in support to 42 organizations.
| Grant Recipient | Amount |
|---|---|
Lakewood, NJ PURPOSE: TO FURTHER JEWISH CAUSES | $1,090,000 |
Brooklyn, NY PURPOSE: TO FURTHER JEWISH CAUSES | $200,000 |
Brooklyn, NY PURPOSE: TO FURTHER JEWISH CAUSES | $150,000 |
Brooklyn, NY PURPOSE: TO FURTHER JEWISH CAUSES | $122,000 |
CONG YESODE HATORAH PURPOSE: TO FURTHER JEWISH CAUSES | $60,000 |
Brooklyn, NY PURPOSE: TO FURTHER JEWISH CAUSES | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodwill Industries Of Northeastern Pa Scranton, PA | $3,646,825 | $19,267,425 |
Goodwill Of The Southern Alleghenies Inc Johnstown, PA | $25,401,330 | $17,363,905 |
Bronx Community Health Network Inc Bronx, NY | $3,991,099 | $14,090,159 |
Goodwill Industries Of The Pioneer Valley Inc Springfield, MA | $1,569,230 | $6,508,731 |
Goodwill Industries Of The Berkshires And Southern Vermont In Pittsfield, MA | $1,961,231 | $5,923,372 |
Goodwill Services Inc Harrisburg, PA | $1,174,955 | $4,133,942 |
C D L Foundation Inc Lawrence, NY | $9,728,036 | $6,948,040 |
Cumberland Goodwill Fire Rescue Ems Inc Carlisle, PA | $2,706,189 | $4,365,885 |
Goodwill Commercial Services Inc Pittsburgh, PA | $316,544 | $3,683,936 |
Fund For Life Foundation Inc Brooklyn, NY | $41,149,257 | $1,026,606 |
Perry & Donna Golkin Family Foundation New York, NY | $20,120,951 | $2,418,133 |
Liberty Bank Foundation Middletown, CT | $32,713,234 | $3,808,061 |