Israel Scholarship Education Foundation
- Assets
- $6.7m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 3
- Location
- New York, NY
- Founding
- 08/1978
- Data as of
- 09/2021
- EIN
- 13-2909403
Organization Overview
Israel Scholarship Education Foundation is located in New York, NY. The organization was established in 1978. According to its NTEE Classification (Q22) the organization is classified as: International Academic Exchange, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 09/2021, Israel Scholarship Education Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Israel Scholarship Education Foundation 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 09/2021, Israel Scholarship Education Foundation generated $2.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $1.8m during the year ending 09/2021. While expenses have increased by 4.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ISRAEL SCHOLARSHIP EDUCATION FOUNDATION'S MISSION IS TO NARROWISRAEL'S SOCIO-ECONOMIC GAP THROUGH HIGHER EDUCATION. ITS UNIQUEMETHODOLOGY COMBINES SCHOLARSHIP SUPPORT FOR GIFTED YOUNG PEOPLE FROMDISADVANTAGED BACKGROUNDS WITH COMMUNITY SERVICE, LEADERSHIP TRAINING, AND SOCIAL-CONSCIENCE BUILDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ISRAEL SCHOLARSHIP EDUCATION FOUNDATION PROVIDES FUNDS TO ITS AFFILIATED ORGANIZATION IN ISRAEL, THROUGH WHICH SCHOLARSHIPS ARE PROVIDED TO ISRAELI CITIZEN STUDENTS STUDYING IN ISRAEL, AT THE UNDERGRADUATE, GRADUATE, AND POST-GRADUATE LEVELS. DURING THE ACADEMIC YEAR 2020-2021, APPROXIMATELY 398 STUDENTS IN ISRAEL RECEIVED ASSISTANCE THROUGH THIS PROGRAM. IN ADDITION, 22 INTERNATIONAL SCHOLARS, ALL ISRAELI CITIZENS, RECEIVED ISRAEL SCHOLARSHIP EDUCATION FOUNDATION SCHOLARSHIPS FOR THE ACADEMIC YEAR 2020-2021, SO THAT THEY COULD PARTICIPATE IN PHD, MD, LAW, OR POST-DOCTORATE PROGRAMS AT VARIOUS UNIVERSITIES IN THE UNITED STATES, CANADA, AND EUROPE.PROBONO LEGAL FEES FOR THE YEAR 2020-2021 IS $8,713
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dmitry Shimelfarb Executive Director | Officer | 40 | $155,596 |
Carlos Benaim President | OfficerTrustee | 1 | $0 |
Harry Katz Treasurer | OfficerTrustee | 1 | $0 |
Nina A Weiner Co Isef Chairwoman/emerita | OfficerTrustee | 1 | $0 |
Yvonne Cohen Director | Trustee | 1 | $0 |
Norman Belmonte Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $497,123 |
| Related organizations | $0 |
| Government grants | $43,547 |
| All other contributions, gifts, grants, and similar amounts not included above | $940,030 |
| Noncash contributions included in lines 1a–1f | $34,036 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,480,700 |
| Total Program Service Revenue | $0 |
| Investment income | $92,612 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $468,474 |
| Net Income from Fundraising Events | -$35,554 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,006,232 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,102,006 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $155,595 |
| Other salaries and wages | $232,439 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $23,050 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,836 |
| Fees for services: Accounting | $53,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $44,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,215 |
| Advertising and promotion | $3,798 |
| Office expenses | $22,567 |
| Information technology | $59,770 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,513 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,022 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $711 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,764,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $560,379 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $22,986 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,185 |
| Investments—publicly traded securities | $6,142,672 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,060 |
| Total assets | $6,731,282 |
| Accounts payable and accrued expenses | $57,032 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $57,032 |
| Net assets without donor restrictions | $957,093 |
| Net assets with donor restrictions | $5,717,157 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,731,282 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Israel Scholarship Education Foundation has recieved totaling $104,231.
| Awarding Organization | Amount |
|---|---|
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $58,000 |
Conduit Foundation Chicago, IL PURPOSE: GENERAL PURPOSES | $46,000 |
Posner-Wallace Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $180 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $51 |
Endowment Analysis
| Beg. Balance | $4,665,917 |
| Earnings | $901,240 |
| Net Contributions | $350,000 |
| Other Expense | $200,000 |
| Ending Balance | $5,717,157 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Afs-Usa Inc New York, NY | $16,942,442 | $16,772,784 |
American Academy In Rome New York, NY | $156,286,917 | $13,968,918 |
Alexander Muss Institute For Israel Education Inc Rockville Centre, NY | $21,964,723 | $9,700,291 |
Onward Israel Usa Inc New York, NY | $2,215,370 | $5,939,234 |
Showa Boston Institute For Language And Culture Jamaica Plain, MA | $39,110,971 | $10,562,824 |
Afs Intercultural Programs Inc New York, NY | $14,241,646 | $12,687,356 |
Egyptian-American Enterprise Fund New York, NY | $169,845,703 | $41,150,119 |
International Student Exchange Inc Bay Shore, NY | $14,840,965 | $6,979,556 |
Insead North America Inc Valhalla, NY | $10,753,709 | $6,277,643 |
Program Of Academic Exchange Port Chester, NY | $4,242,998 | $6,723,504 |
School Year Abroad Inc North Andover, MA | $31,777,579 | $4,148,421 |
Urban Assembly Inc New York, NY | $3,965,114 | $5,718,202 |