BETA

FIFTY VANDERBILT FOUNDATION INC: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
FIFTY VANDERBILT FOUNDATION INC (EIN 47-3973048)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-12
IRS object ID
202113169349311261
Schema version
2020v4.1
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)
Return2021-11-12T15:53:04-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN133628255PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CONDON O'MEARA MCGINTY & DONNELLY LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1ONE BATTERY PARK PLAZAAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10004ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN473973048EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1FIFTY VANDERBILT FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlFIFTBusinessNameControlTxt
Phone2127162112PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line150 VANDERBILT AVENUEAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10017ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonTED BERENBLUMPersonNm
Person TitleTREASURERPersonTitleTxt
Phone2127162112PhoneNum
Signature2021-11-08SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstTEDPersonFirstNm
Person LastBERENBLUMPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJAMES J REILLYPreparerPersonNm
PTINP00183769PTIN
Phone2126617777PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerTED BERENBLUMPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line150 VANDERBILT AVENUEAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10017ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$562,111GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.FIFTYVANDERBILTFOUNDATION.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2015FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionPRESERVING THE HISTORICALLY SIGNIFICANT BUILDING LOCATED AT 50 VANDERBILT AVE, NY, NY 10017ActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent7VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers7TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$73,985PYContributionsGrantsAmt
CY Contributions Grants$549,865CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$23,610PYInvestmentIncomeAmt
CY Investment Income$12,246CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$97,595PYTotalRevenueAmt
CY Total Revenue$562,111CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$467,100CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$28,923PYOtherExpensesAmt
CY Other Expenses$31,733CYOtherExpensesAmt
PY Total Expenses$28,923PYTotalExpensesAmt
CY Total Expenses$498,833CYTotalExpensesAmt
PY Revenues Less Expenses$68,672PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$63,278CYRevenuesLessExpensesAmt
Total Assets BOY$1,204,750TotalAssetsBOYAmt
Total Assets EOY$1,474,540TotalAssetsEOYAmt
Total Liabilities BOY$70,293TotalLiabilitiesBOYAmt
Total Liabilities EOY$276,805TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,134,457NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$1,197,735NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionSEE SCHEDULE OMissionDesc
Significant New Program SrvcYes (1)SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$467,100ExpenseAmt
Grant$467,100GrantAmt
DescON OCTOBER 2, 2020, IN FURTHERANCE OF ITS CHARITABLE PURPOSES, THE FOUNDATION'S CERTIFICATE OF INCORPORATION WAS AMENDED TO ADD A PROVISION TO OPERATE AN EMPLOYEE RELIEF FUND ("RELIEF FUND") FOR THE YALE CLUB OF NEW YORK CITY (THE "YALE CLUB") FOR THE PURPOSE OF PROVIDING FINANCIAL AND OTHER ASSISTANCE TO EMPLOYEES OF THE YALE CLUB AFFECTED BY CURRENT AND FUTURE DISASTER AND HARDSHIP.Desc
Total Program Service Expenses$467,100TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To IndividualsYes (1)GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members7GoverningBodyVotingMembersCnt
Independent Voting Member7IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org DocumentsYes (1)ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of Committees0MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNYStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE ORGANIZATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2127162112PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line150 VANDERBILT AVENUEAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10017ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
MICHAEL HENNESSY
PRESIDENT3.00Yes (X)Yes (X)$0$0$0
KATHERINE EDERSHEIM
VICE PRESIDENT2.00Yes (X)Yes (X)$0$0$0
GAYLE MAURIN
SECRETARY2.00Yes (X)Yes (X)$0$0$0
TED BERENBLUM
TREASURER2.00Yes (X)Yes (X)$0$0$0
DEV GANDHI
MEMBER AT LARGE1.00Yes (X)$0$0$0
NEIL HOHMANN
MEMBER AT LARGE1.00Yes (X)$0$0$0
YOSHIKO INOUE
MEMBER AT LARGE1.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$549,865AllOtherContributionsAmt
Total Contributions$549,865TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$12,246TotalRevenueColumnAmt
Exclusion$12,246ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$562,111TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$12,246ExclusionAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$467,100TotalAmt
Program Services$467,100ProgramServicesAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$12,856TotalAmt
Management And General$12,856ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$5,000TotalAmt
Management And General$5,000ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$1,351TotalAmt
Management And General$1,351ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtManagement And GeneralManagementAndGeneralAmt
REGISTRATION FEES$6,306$6,306
ADMINISTRATIVE FEES$6,085$6,085
SUPPLIES$135$135

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$498,833TotalAmt
Program Services$467,100ProgramServicesAmt
Management And General$31,733ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$12,223BOYAmt
EOY$169,167EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$1,192,527BOYAmt
EOY$1,305,373EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$1,204,750BOYAmt
EOY$1,474,540EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$70,293BOYAmt
EOY$276,805EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$70,293BOYAmt
EOY$276,805EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,134,457BOYAmt
EOY$1,197,735EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,134,457BOYAmt
EOY$1,197,735EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,204,750BOYAmt
EOY$1,474,540EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$63,278ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$325,600CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$45,304CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$806,353CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$73,985CurrentTaxYearMinus1YearAmt
Current Tax Year$549,865CurrentTaxYearAmt
Total$1,801,107TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$325,600CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$45,304CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$806,353CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$73,985CurrentTaxYearMinus1YearAmt
Current Tax Year$549,865CurrentTaxYearAmt
Total$1,801,107TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$1,213,345SubstantialContributorsTotAmt
Public Support Total170$587,762PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus3 Years$522CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$6,298CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$23,610CurrentTaxYearMinus1YearAmt
Current Tax Year$12,246CurrentTaxYearAmt
Total$42,676TotalAmt
FieldValueIRS element (for citing)
Total Support$1,843,783TotalSupportAmt
Public Support CY1700.31880PublicSupportCY170Pct
Ten Pct Facts Crcmstncs Test CYYes (X)TenPctFactsCrcmstncsTestCYInd
Facts And Circumstances TestFIFTY VANDERBILT FOUNDATION, INC. (THE FOUNDATION) QUALIFIES AS PUBLICLY SUPPORTED BECAUSE IT MEETS THE 10% PLUS FACTS-AND-CIRCUMSTANCES TEST UNDER TREAS REG. 1.170A-9(E)(3) IN THE FOLLOWING RESPECTS:10% OF SUPPORT LIMITATION - AT 31.88% THE FOUNDATION'S PUBLIC SUPPORT PERCENTAGE FOR 2020 EXCEEDED 10%.THE FOUNDATION OVERVIEW AND BACKGROUNDTHE FOUNDATION WAS FORMED PRIMARILY FOR THE PURPOSE OF RESTORING, MAINTAINING AND PRESERVING THE HISTORICALLY AND ARCHITECTURALLY SIGNIFICANT BUILDING LOCATED AT 50 VANDERBILT AVENUE, NEW YORK, NY 10017. SECONDARY PURPOSES INCLUDE PROVIDING SCHOLARSHIPS FOR YALE UNIVERSITY STUDENTS, AS WELL AS FOSTERING AWARENESS AND APPRECIATION FOR THE WORKS OF JAMES GAMBLE ROGERS, RENOWNED ARCHITECT OF 50 VANDERBILT AVENUE, AND WORKS LOCATED ON THE YALE UNIVERSITY CAMPUS.FactsAndCircumstancesTestTxt

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescDUE TO THE YALE CLUB OF NYCDesc
Amt$276,805Amt
FieldValueIRS element (for citing)
Total Liability$276,805TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt$562,111TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$562,111RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$562,111TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$498,833TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$498,833ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$498,833TotalExpensesPerForm990Amt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

FieldValueIRS element (for citing)
Grant TypeEMPLOYEE GRANTSGrantTypeTxt
Recipient236RecipientCnt
Cash Grant$467,100CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
ExplanationTHE FUND WILL PROVIDE FINANCIAL ASSISTANCE TO EACH OF THE ELIGIBLE EMPLOYEES SO AS TO PROVIDE EMERGENCY, SHORT-TERM FINANCIAL ASSISTANCE TO MEET THE VARIETY OF EMERGENCY, SHORT-TERM NEEDS OF SUCH EMPLOYEES. THE AMOUNT OF SUCH FINANCIAL ASSISTANCE TO BE PROVIDED TO EACH OF THE ELIGIBLE EMPLOYEES SHALL BE SET BY THE INDEPENDENT SELECTION COMMITTEE, WITH THE AMOUNT OF SUCH ASSISTANCE INTENDED ONLY TO PROVIDE EMERGENCY, SHORT-TERM FINANCIAL ASSISTANCE. THE FUND HAS LIMITED RESOURCES AND WILL MAKE GRANTS TO EMPLOYEES ONLY WHILE THERE ARE SUFFICIENT FUNDS REMAINING IN THE FUND. GRANTS TO EMPLOYEES WILL BE PROCESSED IN THE ORDER IN WHICH THEY ARE RECEIVED AND ONCE THE FUND IS EXHAUSTED, THERE WILL BE NO FURTHER GRANTS MADE TO EMPLOYEES FROM THE FUND. THEREFORE, EVEN WHERE AN EMPLOYEE MAY OTHERWISE BE ELIGIBLE TO RECEIVE A GRANT FROM THE FUND, THERE IS NO GUARANTEE THAT SUCH A GRANT WILL BE MADE AND NO SUCH GRANT WILL BE MADE WHEN THE FUND IS FULLY DEPLETED.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:THE FIFTY VANDERBILT FOUNDATION, INC. (THE "FOUNDATION") WAS INCORPORATED UNDER THE NEW YORK NOT-FOR-PROFIT CORPORATION LAW ON APRIL 29, 2015. THE FOUNDATION WAS FORMED PRIMARILY FOR THE PURPOSE OF RESTORING, MAINTAINING AND PRESERVING THE DESIGNATED LANDMARK LOCATED AT 50 VANDERBILT AVENUE, NEW YORK, NY 10017. SECONDARY PURPOSES INCLUDE PROVIDING SCHOLARSHIPS FOR YALE UNIVERSITY STUDENTS, AS WELL AS FOSTERING AWARENESS AND APPRECIATION FOR THE WORKS OF JAMES GAMBLE ROGERS, RENOWNED ARCHITECT OF 50 VANDERBILT AVENUE, AND WORKS LOCATED ON THE YALE UNIVERSITY CAMPUS. ON OCTOBER 2, 2020, IN FURTHERANCE OF ITS CHARITABLE PURPOSES, THE FOUNDATION'S CERTIFICATE OF INCORPORATION WAS AMENDED TO ADD A PROVISION TO OPERATE AN EMPLOYEE RELIEF FUND ("RELIEF FUND") FOR THE YALE CLUB OF NEW YORK CITY (THE "YALE CLUB") FOR THE PURPOSE OF PROVIDING FINANCIAL AND OTHER ASSISTANCE TO EMPLOYEES OF THE YALE CLUB AFFECTED BY CURRENT AND FUTURE DISASTER AND HARDSHIP PROVIDED, HOWEVER, THAT SUCH RELIEF FUND IS ESTABLISHED AND OPERATED SOLELY AND EXCLUSIVELY IN FURTHERANCE OF CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"), AS IT MAY BE AMENDED, AND MEETS SUCH OTHER REQUIREMENTS IN ORDER FOR CONTRIBUTIONS TO THE FOUNDATION FOR THE RELIEF FUND TO FULFILL A PURPOSE DESCRIBED IN SECTION 170(C)(2)(B) OF THE CODE.
FORM 990, PART III, LINE 2THE FOUNDATION ESTABLISHED AN EMPLOYEE RELIEF FUND IN 2020. THIS FUND'S PURPOSE WAS TO AWARD GRANTS TO FURLOUGHED EMPLOYEES THAT NEEDED FINANCIAL ASSISTANCE DUE TO THE IMPACT ON THE ECONOMY FROM COVID-19.
FORM 990, PART VI, SECTION A, LINE 41. INTRODUCTION THE BOARD OF DIRECTORS OF THE FIFTY VANDERBILT FOUNDATION, INC. (THE "CHARITY") HAS ESTABLISHED THE YALE CLUB EMPLOYEE EMERGENCY RELIEF FUND (THE "FUND") IN FURTHERANCE OF THE CHARITY'S CHARITABLE PURPOSES. THE MISSION OF THE FUND IS TO PROVIDE FINANCIAL ASSISTANCE TO ELIGIBLE EMPLOYEES OF THE YALE CLUB OF NEW YORK CITY ("YALE CLUB") IN LIGHT OF THE NOVEL CORONAVIRUS DISEASE (COVID-19) OUTBREAK ("CORONAVIRUS DISASTER"), WHICH WAS DECLARED A "MAJOR DISASTER" UNDER THE STAFFORD ACT ON MARCH 13, 2020 AND IS DEFINED AS A "QUALIFIED DISASTER" UNDER SECTION 139 OF THE INTERNAL REVENUE CODE, OR ANY FUTURE NATURAL OR CIVIL DISASTER. 2. MISSION STATEMENT THE CHARITY HAS ESTABLISHED THE FUND TO PROVIDE EMERGENCY, SHORT-TERM FINANCIAL ASSISTANCE TO ELIGIBLE EMPLOYEES OF THE YALE CLUB AFFECTED BY THE CORONAVIRUS DISASTER OR ANY OTHER FUTURE NATURAL OR CIVIL DISASTER, AND TO PROVIDE THAT ASSISTANCE AS SOON AS POSSIBLE TO MEET THE VARIETY OF EMERGENCY, SHORT-TERM NEEDS OF SUCH EMPLOYEES AS A RESULT OF THE SEVERE AND IMMEDIATE NEGATIVE IMPACT ON THE FINANCES OF SUCH EMPLOYEES AS A RESULT OF THE CORONAVIRUS DISASTER OR ANY OTHER FUTURE NATURE OR CIVIL DISASTER. 3. CONTRIBUTIONS THE CHARITY WILL ACCEPT CHARITABLE CONTRIBUTIONS TO THE FUND FROM INTERESTED INDIVIDUALS, CORPORATIONS AND OTHER ORGANIZATIONS, INCLUDING MEMBERS OF THE YALE CLUB. THE CHARITY WILL NOT ACCEPT CONTRIBUTIONS TO THE FUND THAT ARE EARMARKED FOR SPECIFIC INDIVIDUALS. 4. ELIGIBILITY INDIVIDUALS WHO ARE EMPLOYEES OF THE YALE CLUB WHO HAVE BEEN TERMINATED, FURLOUGHED OR HAVE HAD THEIR HOURS SUBSTANTIALLY REDUCED ON ACCOUNT OF THE CORONAVIRUS DISASTER OR ANY OTHER FUTURE NATURE OR CIVIL DISASTER ARE ELIGIBLE FOR ASSISTANCE UNDER THE FUND. SPECIFIC CRITERIA TO QUALIFY WILL BE INCLUDED ON THE GRANT APPLICATION. DECISIONS REGARDING ELIGIBLE EMPLOYEES SHALL BE MADE ON AN OBJECTIVE AND NONDISCRIMINATORY BASIS BY THE CHARITY'S INDEPENDENT SELECTION COMMITTEE. 5. TYPE OF ASSISTANCE THE FUND WILL PROVIDE FINANCIAL ASSISTANCE TO EACH OF THE ELIGIBLE EMPLOYEES SO AS TO PROVIDE EMERGENCY, SHORT-TERM FINANCIAL ASSISTANCE TO MEET THE VARIETY OF EMERGENCY, SHORT-TERM NEEDS OF SUCH EMPLOYEES. THE AMOUNT OF SUCH FINANCIAL ASSISTANCE TO BE PROVIDED TO EACH OF THE ELIGIBLE EMPLOYEES SHALL BE SET BY THE INDEPENDENT SELECTION COMMITTEE, WITH THE AMOUNT OF SUCH ASSISTANCE INTENDED ONLY TO PROVIDE EMERGENCY, SHORT-TERM FINANCIAL ASSISTANCE. THE FUND HAS LIMITED RESOURCES AND WILL MAKE GRANTS TO EMPLOYEES ONLY WHILE THERE ARE SUFFICIENT FUNDS REMAINING IN THE FUND. GRANTS TO EMPLOYEES WILL BE PROCESSED IN THE ORDER IN WHICH THEY ARE RECEIVED AND ONCE THE FUND IS EXHAUSTED, THERE WILL BE NO FURTHER GRANTS MADE TO EMPLOYEES FROM THE FUND. THEREFORE, EVEN WHERE AN EMPLOYEE MAY OTHERWISE BE ELIGIBLE TO RECEIVE A GRANT FROM THE FUND, THERE IS NO GUARANTEE THAT SUCH A GRANT WILL BE MADE AND NO SUCH GRANT WILL BE MADE WHEN THE FUND IS FULLY DEPLETED. 6. INDEPENDENT SELECTION COMMITTEE THE INDEPENDENT SELECTION COMMITTEE SHALL CONSIST OF AT LEAST THREE MEMBERS, NONE OF WHOM SHALL BE A DIRECTOR, OFFICER OR EXECUTIVE OF THE YALE CLUB. THE MEMBERS OF THE INDEPENDENT SELECTION COMMITTEE SHALL BE APPOINTED BY THE BOARD OF DIRECTORS OF THE CHARITY, IT BEING UNDERSTOOD THAT THE MEMBERS OF THE INDEPENDENT SELECTION COMMITTEE SHALL SERVE AT THE PLEASURE OF THE BOARD OF DIRECTORS OF THE CHARITY. THE INDEPENDENT SELECTION COMMITTEE SHALL BE RESPONSIBLE FOR FURTHER DEVELOPMENT OF THE PROGRAM, INCLUDING PROCESS, APPLICATIONS, ASSISTANCE AMOUNTS AND OTHER DETAILS AS NECESSARY FOR THE PROGRAM.
FORM 990, PART VI, SECTION A, LINE 8BTHE FOUNDATION DOES NOT HAVE COMMITTEES.
FORM 990, PART VI, SECTION B, LINE 11BEACH BOARD MEMBER IS GIVEN A COPY OF THE FORM 990 FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12CANNUALLY THE BOARD FILLS OUT CONFLICT OF INTEREST STATEMENTS, ALL CONFLICTS OF INTEREST ARE THEN REVIEW BY THE PRESIDENT AND THE FULL BOARD.
FORM 990, PART VI, SECTION C, LINE 19THE FOUNDATION WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST.

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.