Hanyc Foundation Inc
- Assets
- $358.6k
- Revenue
- $385.3k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 09/2019
- Data as of
- 12/2022
- EIN
- 83-3283722
Organization Overview
Hanyc Foundation Inc is located in New York, NY. The organization was established in 2019. According to its NTEE Classification (M20) the organization is classified as: Disaster Preparedness & Relief Services, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hanyc 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 12/2022, Hanyc Foundation Inc generated $385.3k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $136.1k during the year ending 12/2022. While expenses have increased by 25.6% per year over the past 4 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 FOUNDATION FOCUSES ON THREE AREAS:1.EDUCATION, BY PROVIDING SCHOLARSHIPS TO STUDENTS WHO WILL PURSUE AN ASSOCIATE'S OR BACHELOR'S DEGREE PROGRAM IN HOSPITALITY2. CRISIS RELIEF, BY PROVIDING SHORT-TERM HOTEL STAYS TO INDIVIDUALS EXPERIENCING UNEXPECTED HARDSHIPS AND3. EFFORTS TO COMBAT HUMAN TRAFFICKING, BY PROVIDING TRAINING TO THE HOTEL INDUSTRY. THIS WILL INCLUDE PARTNERING WITH INDIVIDUALS AND OTHER ORGANIZATIONS IN ORDER TO PROVIDE AN OVERVIEW OF SEX AND LABOR TRAFFICKING AND THEIR IMPACT ON THE HOTEL INDUSTRY, TO DISCUSS COMMON INDICATORS OF HUMAN TRAFFICKING AND CASE EXAMPLES, TO GIVE ACTION STEPS ON HOW TO RESPOND TO AND PREVENT HUMAN TRAFFICKING.THE FOUNDATION WILL ORGANIZE FUNDRAISING EVENTS SUCH AS AN ANNUAL GOLF OUTING AND AN ANNUAL RED CARPET HOSPITALITY GALA, WHERE ALL PROCEEDS BEYOND EXPENSES WILL GO DIRECTLY TO THE FOUNDATION. WE WILL ALSO ORGANIZE EDUCATIONAL AND SIMILAR SEMINARS FOCUSED ON OUR EFFORTS RELATED TO HUMAN TRAFFICKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS GRANTED - THE FOUNDATION PROVIDES SCHOLARSHIPS FOR STUDENTS PURSUING AN ASSOCIATES OR BACHELORSDEGREE IN HOTEL MANAGEMENT, HUMAN TRAFFICKING TRAINING FOR ASSOCIATION MEMBERS AND THEIR STAFF AND HOTEL STAYS TO INDIVIDUALS AND FAMILIES DURING UNANTICIPATED HARDSHIP AND CRISIS.
CRISIS RELIEF HOTEL STAYS -ON DECEMBER 21, 2022, THE FOUNDATION ENTERED INTO AN AGREEMENT (THE AGREEMENT) WITH THE CITY OF NEW YORK THROUGH ITS DEPARTMENT OF HOMELESS SERVICES (DHS) TO ACT AS A THIRD-PARTY ADMINISTRATOR TO ASSIST DHS WITH BOOKING, MANAGING, TRACKING, REPORTING, AND INVOICING FOR HOTELS SERVICE FOR THE EMERGENCY PROCUREMENT OF SHELTER SERVICES NEEDED TO ACCOMMODATE THE INFLUX OF PERSONS WHO ARE SEEKING ASYLUM IN THE NEW YORK CITY AREA. IN ACCORDANCE WITH THE AGREEMENT, THE FOUNDATION EARNS ADMINISTRATIVE FEES OF $20,000 PER MONTH FOR UP TO 20 PARTICIPATING HOTELS PLUS $1,000 PER MONTH FOR EACH PARTICIPATING HOTEL IT DMINISTERS IN EXCESS OF 20. FOR THE YEAR ENDED DECEMBER 31, 2022, THE FOUNDATION EARNED $100,000.
COMMUNITY ASSISTANCE - CONTRBUTIONS TO CHARITABLE ORGANIZATIONS WHOSE MISSIONS ALIGN WITH THAT OF HANYC FOUNDATION, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vijay Dandapani President | OfficerTrustee | 1 | $0 |
Katelynn Morris Director | OfficerTrustee | 1 | $0 |
Julie Greenberg Director | Trustee | 1 | $0 |
Robert Salem Director | Trustee | 1 | $0 |
Karambir Kang Director | Trustee | 1 | $0 |
Kathy Morales Director | Trustee | 1 | $0 |
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 | $57,570 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,570 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $227,722 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $385,292 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,250 |
| Grants and other assistance to domestic individuals. | $43,200 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| 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 | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $45,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,668 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $136,118 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $257,613 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $101,000 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $358,613 |
| Accounts payable and accrued expenses | $41,719 |
| Grants payable | $7,500 |
| 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 | $49,219 |
| Net assets without donor restrictions | $250,825 |
| Net assets with donor restrictions | $58,569 |
| 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 | $358,613 |