2021-11-12T15:53:04-06:00 2020-12-31 133628255 CONDON O'MEARA MCGINTY & DONNELLY LLP ONE BATTERY PARK PLAZA NEW YORK NY 10004 990 2020-01-01 473973048 FIFTY VANDERBILT FOUNDATION INC FIFT 2127162112 50 VANDERBILT AVENUE NEW YORK NY 10017 TED BERENBLUM TREASURER 2127162112 2021-11-08 1 TED BERENBLUM 999009999 JAMES J REILLY P00183769 2126617777 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z TED BERENBLUM 50 VANDERBILT AVENUE NEW YORK NY 10017 562111 0 X WWW.FIFTYVANDERBILTFOUNDATION.ORG X 2015 NY PRESERVING THE HISTORICALLY SIGNIFICANT BUILDING LOCATED AT 50 VANDERBILT AVE, NY, NY 10017 7 7 0 7 0 0 73985 549865 0 0 23610 12246 0 0 97595 562111 0 467100 0 0 0 0 0 0 0 28923 31733 28923 498833 68672 63278 1204750 1474540 70293 276805 1134457 1197735 X SEE SCHEDULE O 1 0 467100 467100 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. 467100 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 1 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 NY X THE ORGANIZATION 2127162112 50 VANDERBILT AVENUE NEW YORK NY 10017 X MICHAEL HENNESSY PRESIDENT 3.00 X X 0 0 0 KATHERINE EDERSHEIM VICE PRESIDENT 2.00 X X 0 0 0 GAYLE MAURIN SECRETARY 2.00 X X 0 0 0 TED BERENBLUM TREASURER 2.00 X X 0 0 0 DEV GANDHI MEMBER AT LARGE 1.00 X 0 0 0 NEIL HOHMANN MEMBER AT LARGE 1.00 X 0 0 0 YOSHIKO INOUE MEMBER AT LARGE 1.00 X 0 0 0 0 0 0 0 0 0 0 0 549865 549865 12246 12246 562111 0 0 12246 467100 467100 12856 12856 5000 5000 1351 1351 REGISTRATION FEES 6306 6306 ADMINISTRATIVE FEES 6085 6085 SUPPLIES 135 135 498833 467100 31733 0 12223 169167 1192527 1305373 1204750 1474540 70293 276805 70293 276805 X 1134457 1197735 1134457 1197735 1204750 1474540 63278 0 X 0 1 X 1 0 X 325600 45304 806353 73985 549865 1801107 325600 45304 806353 73985 549865 1801107 1213345 587762 522 6298 23610 12246 42676 1843783 0.31880 X FIFTY 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO THE YALE CLUB OF NYC 276805 276805 562111 0 562111 0 562111 498833 0 498833 0 498833 1 EMPLOYEE GRANTS 236 467100 PART I, LINE 2: 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. 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 2 THE 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 4 1. 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 8B THE FOUNDATION DOES NOT HAVE COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B EACH 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 12C ANNUALLY 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 19 THE FOUNDATION WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST.