Federation Employment And Guidance Service Inc

Organization Overview

Federation Employment And Guidance Service Inc is located in New York, NY. The organization was established in 1951. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 06/2021, Federation Employment And Guidance Service Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Federation Employment And Guidance Service Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

FEDERATION EMPLOYMENT AND GUIDANCE SERVICE, INC. ("FEGS", THE "DEBTOR", OR THE "TAXPAYER") IS A NOT-FOR-PROFIT HEALTH AND HUMAN SERVICES ORGANIZATION WHICH UNTIL MAY 2015 PROVIDED A BROAD RANGE OF (CONTINUED IN SCHEDULE O)

Describe the Organization's Program Activity:

Part 3 - Line 4a

ON MARCH 18, 2015 (THE "PETITION DATE"), FEDERATION EMPLOYMENT AND GUIDANCE SERVICE, INC ("FEGS", THE "DEBTOR", OR THE "TAXPAYER") FILED A VOLUNTARY PETITION FOR RELIEF UNDER CHAPTER 11 OF THE BANKRUPTCY CODE IN THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF NEW YORK (THE "COURT"). DURING THE PENDENCY OF ITS CHAPTER 11 CASE, FEGS OPERATED ITS BUSINESS AND MANAGED ITS AFFAIRS AS A DEBTOR-IN-POSSESSION. SHORTLY PRIOR TO THE PETITION DATE, THE DEBTOR ANNOUNCED THAT IT PLANNED TO TRANSFER ITS CHARITABLE PURPOSE PROGRAMS TO OTHER SERVICE PROVIDERS. BY MAY 31, 2015, THE DEBTOR HAD SUCCESSFULLY TRANSFERRED, PURSUANT TO COURT ORDER, ITS CHARITABLE PURPOSE PROGRAMS TO OTHER EXEMPT ORGANIZATIONS WHO ASSUMED THE OPERATIONS FOR THE DEBTOR'S FORMER PROGRAMS. IN ORDER TO PREVENT THE DISLOCATION OF ITS FORMER CLIENTS, FEGS SUBSEQUENTLY LEASED ITS FACILITIES, PURSUANT TO COURT ORDER, TO THE ACQUIRING SERVICE PROVIDERS UNTIL A SALE OR ASSIGNMENT OF ITS FACILITIES COULD BE COMPLETED AND APPROVED BY THE COURT. PURSUANT TO AN ORDER ENTERED FEBRUARY 6, 2018 (THE "CONFIRMATION ORDER"), THE COURT CONFIRMED THE DEBTOR'S PLAN. THE DEBTOR'S PLAN BECAME EFFECTIVE ON MARCH 1, 2018. THE PLAN PROVIDES A MEANS BY WHICH THE REMAINING ASSETS OF THE DEBTOR'S REAL ESTATE PORTFOLIO AND OTHER REMAINING ASSETS WILL BE LIQUIDATED WITH THE PROCEEDS OF SUCH LIQUIDATION, TOGETHER WITH THE PROCEEDS OF PRIOR SALES OF THE DEBTOR'S ASSETS, TO BE DISTRIBUTED TO THE DEBTOR'S CREDITORS AS PROVIDED UNDER THE BANKRUPTCY CODE AND AS FURTHER DESCRIBED IN THE DEBTOR'S PLAN. THE CONFIRMATION ORDER APPROVED THE PRIVATE SALE OF SUBSTANTIALLY ALL OF THE REMAINING REAL ESTATE ASSETS WHICH IS COMPRISED LARGELY OF GROUP HOMES, COOPERATIVE APARTMENTS, AND COMMUNITY RESIDENCE FACILITIES HOUSING MANY OF THE DEBTOR'S FORMER CLIENTS, TO THE NOT-FOR-PROFIT EXEMPT ORGANIZATIONS WHO TOOK OVER THE DEBTOR'S CHARITABLE PROGRAMS AND CONTINUE TO PROVIDE SERVICES TO THE DEBTOR'S FORMER RESIDENTIAL CLIENTS. THE CONFIRMATION ORDER ALSO APPROVED THE PRIVATE SALE OF THE DEBTOR'S MEMBERSHIP AND SPONSORSHIP INTERESTS IN FOUR HOUSING CORPORATIONS WHOSE PROPERTIES HOUSE PHYSICALLY AND DEVELOPMENTALLY DISABLED CLIENTS (THE "HOUSING CORPORATION INTERESTS"). THESE PRIVATE SALES WILL SERVE TO CONTINUE THE CHARITABLE MISSION OF THE DEBTOR AND TO ENSURE THE CONTINUED RESIDENCE AND CARE OF ITS FORMER CLIENTS. DURING THE CURRENT TAX YEAR AND PURSUANT TO COURT ORDERS INCLUDING THE CONFIRMATION ORDER, THE DEBTOR CONTINUED THE PROCESS OF WINDING-UP ITS OPERATIONS AND IMPLEMENTATION OF THE PLAN AS APPROVED BY THE COURT. AT END OF YEAR, THE DEBTOR CONTINUED TO OWN THE HOUSING CORPORATION INTERESTS IN THE FOUR HOUSING CORPORATIONS WHOSE PROPERTIES HOUSE PHYSICALLY AND DEVELOPMENTALLY DISABLED CLIENTS. THE DEBTOR CONTINUED TO MARKET FOR SALE THE HOUSING CORPORATION INTERESTS. FEGS REALIZED $0 IN PROGRAM REVENUE DURING THE CURRENT TAX YEAR. THE EXPENSES REFLECTED IN PART III CONSIST OF EXPENSES INCURRED IN THE WIND-UP OF THE DEBTOR'S OPERATIONS, THE IMPLEMENTATION OF THE DEBTOR'S PLAN OF LIQUIDATION PURSUANT TO THE CONFIRMATION ORDER, AND ADMINISTRATION OF THE FOUR HOUSING CORPORATIONS WHOSE PROPERTIES HOUSE PHYSICALLY AND DEVELOPMENTALLY DISABLED CLIENTS UNTIL THE SALE OF THE DEBTOR'S INTERESTS IN THE FOUR HOUSING CORPORATIONS CAN BE SOLD.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Administrative Manager
$114,083

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Garfunkel Wild Pc
Bankruptcy Prof. Fees
$819,733
Crowe Llp
Bankruptcy Prof. Fees
$392,033
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $8,574
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $101,089

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Federation Employment And Guidance Service Inc has recieved totaling $10,000.

Awarding OrganizationAmount
English Speaking Union Of The United States

New York, NY

PURPOSE: ESU CENTENNIAL CAMPAIGN

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$2,094,583
Grants$2,094,583

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