Itrek Inc
- Assets
- $9.8m
- Revenue
- $9.1m
- Investments
- $0.0
- Employees
- 18
- Location
- New York, NY
- Founding
- 05/2013
- Data as of
- 08/2022
- EIN
- 45-5230138
Organization Overview
Itrek Inc is located in New York, NY. The organization was established in 2013. According to its NTEE Classification (Q23) the organization is classified as: International Exchange N.E.C., under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 08/2022, Itrek Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Itrek 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 08/2022, Itrek Inc generated $9.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $9.7m during the year ending 08/2022. While expenses have increased by 11.3% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO EDUCATE A GENERATION OF LEADERS ABOUT ISRAEL'S VALUES AND GLOBAL CONTRIBUTIONS TO THE WORLD, AND TO EXPOSE THEM TO THE SKILLS AND EDUCATION THAT ISRAEL CAN OFFER THEM PERSONALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ITREK'S MISSION IS TO ENGAGE FUTURE LEADERS WITH ISRAEL. THE ORGANIZATION WORKS WITH STUDENT AND FACULTY LEADERS TO CREATE AND LEAD ITREKS FOR THEIR PEERS/STUDENTS FROM THE WORLD'S LEADING GRADUATE PROGRAMS. THESE FIRST-HAND AND AUTHENTIC EXPERIENCES CAN SHAPE PARTICIPANTS' WORLDVIEW, CHANGING PERCEPTIONS OF ISRAEL AND SPARKING A DEEPER UNDERSTANDING AND APPRECIATION OF THE COUNTRY AND ITS PEOPLE. THE PROGRAM INITIALLY BROUGHT MBA STUDENTS FROM TOP PROGRAMS TO ISRAEL AND HAS SINCE EXPANDED TO TOP LAW, POLICY, AND STEM GRADUATE PROGRAMS. SINCE 2012, ITREK HAS HELPED MORE THAN 19,000 GRADUATE STUDENTS OF MORE THAN 103 NATIONALITIES EXPERIENCE ISRAEL FIRST-HAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rafi Musher Chairman | OfficerTrustee | 2 | $0 |
Aaron Lapat Treasurer | OfficerTrustee | 2 | $0 |
Kenneth Stein Director | Trustee | 1 | $0 |
Tova Katz Director | Trustee | 1 | $0 |
Howard Edelstein Director | Trustee | 1 | $0 |
Adria Moshe Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $331,245 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,139,192 |
| Noncash contributions included in lines 1a–1f | $126,576 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,470,437 |
| Total Program Service Revenue | $601,066 |
| Investment income | $19,026 |
| 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 | $9,090,529 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $58,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $251,439 |
| Compensation of current officers, directors, key employees. | $86,567 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,687,592 |
| Pension plan accruals and contributions | $41,961 |
| Other employee benefits | $264,421 |
| Payroll taxes | $118,368 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,133 |
| Fees for services: Accounting | $15,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $442,431 |
| Advertising and promotion | $77,983 |
| Office expenses | $69,526 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $114,071 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,319 |
| All other expenses | $1,641,374 |
| Total functional expenses | $9,737,510 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $498,886 |
| Savings and temporary cash investments | $8,723,080 |
| Pledges and grants receivable | $308,411 |
| 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 | $252,580 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,850 |
| Total assets | $9,805,807 |
| Accounts payable and accrued expenses | $435,064 |
| 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 | $435,064 |
| Net assets without donor restrictions | $5,485,717 |
| Net assets with donor restrictions | $3,885,026 |
| 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 | $9,805,807 |
Grants Awarded
Over the last fiscal year, Itrek Inc has awarded $42,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
IMEFINSEAD PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION. | $12,000 |
CORNELL TECH NY PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION. | $30,000 |