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NSN FOUNDATION INC: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
NSN FOUNDATION INC (EIN 22-3769097)
Tax period
2020-12-01 to 2021-11-30
Filed
2022-10-13
IRS object ID
202212869349100801
Schema version
2020v4.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2022-10-13T07:02:45-05:00ReturnTs
Tax Period End2021-11-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN135565207PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1KPMG LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1345 Park AvenueAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10154ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-12-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN223769097EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1NSN Foundation IncBusinessNameLine1Txt
Business Name Line2Attn Ken Slutsky Tax Exempt Inst GrpBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlNSNFBusinessNameControlTxt
Phone9735972510PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Lowenstein Sandler 1 Lowenstein DrAddressLine1Txt
CityRoselandCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07068ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonKENNETH J SLUTSKYPersonNm
Person TitlePresidentPersonTitleTxt
Phone9735972510PhoneNum
Signature2022-10-12SignatureDt
Discuss With Paid Preparer0DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstKENNETHPersonFirstNm
Person LastSLUTSKYPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJay FreedmanPreparerPersonNm
PTINP01758248PTIN
Phone2127589700PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer3TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$55,407,565FMVAssetsEOYAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$72,750,000ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$4,729DividendsRevAndExpnssAmt
Dividends Net Invst Incm$4,729DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Other Income Rev And Expnss$5,483OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$0OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$72,760,212TotalRevAndExpnssAmt
Total Net Invst Incm$4,729TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm$0CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$0CompOfcrDirTrstDsbrsChrtblAmt
Taxes Rev And Expnss$53TaxesRevAndExpnssAmt
Taxes Net Invst Incm$0TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl$0TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$1,009OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$920OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$0OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$1,062TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$920TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$18,000,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$18,000,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$18,001,062TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$920TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$18,000,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$54,759,150ExcessRevenueOverExpensesAmt
Net Investment Income$3,809NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash EOY$911CashEOYAmt
Cash EOYFMV$911CashEOYFMVAmt
Sav And Temp Cash Invst BOY$648,415SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$55,401,224SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$55,401,224SavAndTempCashInvstEOYFMVAmt
Prepaid Expenses EOY$5,430PrepaidExpensesEOYAmt
Prepaid Expenses EOYFMV$5,430PrepaidExpensesEOYFMVAmt
Total Assets BOY$648,415TotalAssetsBOYAmt
Total Assets EOY$55,407,565TotalAssetsEOYAmt
Total Assets EOYFMV$55,407,565TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$648,415NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$55,407,565NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$648,415TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$55,407,565TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$648,415TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$55,407,565TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$648,415TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$54,759,150ExcessRevenueOverExpensesAmt
Other Increases$0OtherIncreasesAmt
Subtotal$55,407,565SubtotalAmt
Other Decreases$0OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$55,407,565TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$53InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$53SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$53TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$5,483EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$0ExtsnRequestIncomeTaxPaidAmt
Backup Withholding Withheld$0BackupWithholdingWithheldAmt
Total Payments And Credits$5,483TotalPaymentsAndCreditsAmt
Es Penalty$0EsPenaltyAmt
Overpayment$5,430OverpaymentAmt
Applied To ES Tax$5,430AppliedToESTaxAmt
Refund$0RefundAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political Acty0LegislativePoliticalActyInd
More Than100 Spent0MoreThan100SpentInd
Form1120 POL Filed0Form1120POLFiledInd
Section4955 Organization Tax$0Section4955OrganizationTaxAmt
Section4955 Managers Tax$0Section4955ManagersTaxAmt
Tax Reimbursed$0TaxReimbursedAmt
Activities Not Previously Rpt0ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws0ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc0OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (1)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (1)AtLeast5000InAssetsInd
Org Report Or Register StateFLOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (1)Form990PFFiledWithAttyGenInd
Private Operating Foundation0PrivateOperatingFoundationInd
New Substantial ContributorsYes (1)NewSubstantialContributorsInd
Own Controlled Entity0OwnControlledEntityInd
Donor Advised FundYes (1)DonorAdvisedFundInd
Comply With Public Insp RqrYes (1)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksKenneth J Slutsky - TEIGIndividualWithBooksNm
Phone9735972510PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1Lowenstein Sandler One LowensteinAddressLine1Txt
Address Line2DriveAddressLine2Txt
CityRoselandCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07068ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts Question0ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified Prsn0SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn0BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn0FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn0PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn0TransferAstDisqualifiedPrsnInd
Payment To Government Official0PaymentToGovernmentOfficialInd
Uncorrected Prior Acts0UncorrectedPriorActsInd
Undistributed Income PY0UndistributedIncomePYInd
Business Holdings0BusinessHoldingsInd
Jeopardy Investments0JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst0UncorrectedPYJeopardyInvstInd
Influence Legislation0InfluenceLegislationInd
Influence Election0InfluenceElectionInd
Grants To Individuals0GrantsToIndividualsInd
Grants To Organizations0GrantsToOrganizationsInd
Noncharitable Purpose0NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (4 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
John L Berger
One Lowenstein DriveRoselandNJ07068Vice President/Asst Secy.0.10$0$0$0
Kenneth J Slutsky
One Lowenstein DriveRoselandNJ07068President/Treasurer0.10$0$0$0
David Mills
1130 South Flower St Ste 312Los AngelesCA90015Vice President/Secy.0.10$0$0$0
NISON Mangement LLC
One Lowenstein DriveRoselandNJ07068Member0.20$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$44,118,272AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$44,118,272TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$44,118,272AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$661,774CashDeemedCharitableAmt
Net Vl Noncharitable Assets$43,456,498NetVlNoncharitableAssetsAmt
Minimum Investment Return$2,172,825MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$2,172,825MinimumInvestmentReturnAmt
Tax Based On Investment Income$53TaxBasedOnInvestmentIncomeAmt
Total Tax$53TotalTaxAmt
Distributable Before Adj$2,172,772DistributableBeforeAdjAmt
Recoveries Qualfied Distri$0RecoveriesQualfiedDistriAmt
Distributable Before Ded$2,172,772DistributableBeforeDedAmt
Deduction From Distributable$0DeductionFromDistributableAmt
Distributable As Adjusted$2,172,772DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$18,000,000ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Qualifying Distributions$18,000,000QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$0PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$18,000,000AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$2,172,772DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr3$14,057,251ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$21,727,817ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$39,922,014ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$75,707,082TotalExcessDistributionCyovAmt
Qualifying Distributions$18,000,000QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Prior Years$0AppliedToPriorYearsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$2,172,772AppliedToCurrentYearAmt
Remaining Distri From Corpus$15,827,228RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$0ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$0ExcessDistributionCyovAppCYAmt
Total Corpus$91,534,310TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Prior Year Deficiency Or Tax$0PriorYearDeficiencyOrTaxAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Corpus Distri170b1 E Or4942g3$0CorpusDistri170b1EOr4942g3Amt
Excess Distri Cyov From Yr5$0ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$91,534,310ExcessDistriCyovToNextYrAmt
Excess From Year3$14,057,251ExcessFromYear3Amt
Excess From Year2$21,727,817ExcessFromYear2Amt
Excess From Year1$39,922,014ExcessFromYear1Amt
Excess From Current Year$15,827,228ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerNISON Mangement LLCContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1Jewish Communal FundBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1575 Madison Avenue Ste 703AddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10022ZIPCd
FieldValueIRS element (for citing)
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeFor the general fund of the charityGrantOrContributionPurposeTxt
Amt$18,000,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$18,000,000TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$4,729ExclusionAmt

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescAccounting Method ChangeDesc
Exclusion01ExclusionCd
Exclusion$5,483ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$0UnrelatedBusinessTaxblIncmAmt
Exclusion$10,212ExclusionAmt
Related Or Exempt Function Incm$0RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$10,212TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO0TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO0TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets0SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO0PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets0RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements0ReimbursementArrangementsInd
Loans Or Loan Guarantees0LoansOrLoanGuaranteesInd
Performance Of Services Etc0PerformanceOfServicesEtcInd
Sharing Of Facilities Etc0SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO0RelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp (2 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionInd
LVB Funding LLC
1ATTN Ken Slutsky One Lowenstein DriRoselandNJ07068$2,750,000Yes (X)
Manatee Funding LLC
2ATTN Ken Slutsky One Lowenstein DriRoselandNJ07068$70,000,000Yes (X)

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Bank Charges$89$0$0
Custody Fees$920$920$0

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescAccounting Method ChangeDesc
Revenue And Expenses Per Books$5,483RevenueAndExpensesPerBooksAmt
Adjusted Net Income$5,483AdjustedNetIncomeAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Manatee Funding LLCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1ATTN Ken Slutsky One LowensteinAddressLine1Txt
Address Line2DriveAddressLine2Txt
CityRoselandCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07068ZIPCd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFederal Tax ExpenseCategoryTxt
Amt$53Amt
Net Investment Income$0NetInvestmentIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

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