2020-07-14T15:37:54-05:00 2019-07-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2018-08-01 208513748 YMA FASHION SCHOLARSHIP FUND YMAF 2122780008 1501 BROADWAY NO 2001 NEW YORK NY 10036 PETER ARNOLD EXECUTIVE DIRECTOR 2122780008 2020-07-14 1 GARRETT M HIGGINS P00543209 2122862600 2020-07-14 100.2.127.74 2020-07-14 13:17:17 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 4F9F0882E2C1046A9DC4DC01D0F262469E3815E0 2018 2021-01-29 14:40:06Z PETER ARNOLD 1501 BROADWAY NO 2001 NEW YORK NY 10036 3873696 0 X WWW.YMAFSF.ORG X 2006 NY TO PROMOTE EDUCATION OF THE FASHION ARTS AND BUSINESS BY GRANTING SCHOLARSHIPS TO TALENTED STUDENTS AND FACILITATING INTERNSHIPS, MENTORSHIPS, AND CAREER PROGRAMS. 39 38 7 49 0 0 1332776 2817182 0 0 317134 210521 15288 -35125 1665198 2992578 1437500 1202500 0 0 648014 688809 0 0 298945 354944 600154 2440458 2491463 -775260 501115 6440613 7094788 11190 128018 6429423 6966770 THE MISSION OF THE FASHION SCHOLARSHIP FUND IS TO ADVANCE THE FASHION INDUSTRY BY ENCOURAGING GIFTED AND ENTERPRISING YOUNG PEOPLE TO PURSUE CAREERS IN DESIGN, MERCHANDISING, RETAILING AND BUSINESS, ENSURING THE INDUSTRY WILL CONTINUE TO ATTRACT DEDICATED AND CAPABLE INDIVIDUALS. 0 0 1938480 1202500 AS THE PREMIER EDUCATIONAL FASHION NON-PROFIT IN THE UNITED STATES, THE YMA FASHION SCHOLARSHIP FUND (FSF) SEEKS TO IDENTIFY AND CREATE CAREER OPPORTUNITIES FOR YOUNG PEOPLE WORLDWIDE. THE ORGANIZATION GRANTS THE SINGLE LARGEST SUM OF MONEY AND TOTAL NUMBER OF SCHOLARSHIPS IN THE ENTIRE FASHION COMMUNITY, SUPPLEMENTING FINANCIAL SUPPORT WITH A RICH CURRICULUM OF COMPREHENSIVE, INDUSTRY-LEADING PROGRAMS FOR SCHOLARS, OFFERING HANDS-ON EXPERIENCE WITH THE WORLD'S TOP FASHION COMPANIES AND MOST INFLUENTIAL LEADERS. 1938480 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 7 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 39 38 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 0 0 NY X X PETER ARNOLD 2122780008 1501 BROADWAY NO 2001 NEW YORK NY 10036 PETER SACHSE CHAIRMAN 2.00 X X 0 0 0 WILLIAM SUSMAN PRESIDENT 2.00 X X 0 0 0 MARC MASTRONARDI VICE PRESIDENT 2.00 X X 0 0 0 PETER ARNOLD EXECUTIVE DIRECTOR AS OF NOV 2018 42.00 X X 42308 0 0 MICHAEL SETOLA TREASURER 2.00 X X 0 0 0 MIKE ALIC BOARD MEMBER 2.00 X 0 0 0 PAUL ANNUNZIATA BOARD MEMBER 2.00 X 0 0 0 SAM ARCHIBALD BOARD MEMBER 2.00 X 0 0 0 SHAWN AUSTIN BOARD MEMBER THRU JULY 2019 2.00 X 0 0 0 MARY BETH BLAKE BOARD MEMBER THRU JULY 2019 2.00 X 0 0 0 GLEN ELLEN BROWN BOARD MEMBER 2.00 X 0 0 0 SANTIAGO CUCCI BOARD MEMBER 2.00 X 0 0 0 JUNE DEFABIO BOARD MEMBER 2.00 X 0 0 0 ABBEY DONEGER BOARD MEMBER 2.00 X 0 0 0 HOWARD FELLER BOARD MEMBER 2.00 X 0 0 0 MIKE FRALIX BOARD MEMBER 2.00 X 0 0 0 HEATH GOLDEN BOARD MEMBER 2.00 X 0 0 0 ALEX GRINBERG BOARD MEMBER 2.00 X 0 0 0 CELESTE GUDAS BOARD MEMBER 2.00 X 0 0 0 DAVID KATZ BOARD MEMBER 2.00 X 0 0 0 COLLEEN KELLY BOARD MEMBER 2.00 X 0 0 0 MITCHELL KONSKER BOARD MEMBER 2.00 X 0 0 0 JOHN LOHNAS BOARD MEMBER 2.00 X 0 0 0 DEBRA MALBIN BOARD MEMBER 2.00 X 0 0 0 JEFF MANBY BOARD MEMBER 2.00 X 0 0 0 LEE MCCABE BOARD MEMBER 2.00 X 0 0 0 NANCY MCKAY BOARD MEMBER THRU JULY 2019 2.00 X 0 0 0 KAREN MURRAY BOARD MEMBER 2.00 X 0 0 0 KENNETH NOLAN BOARD MEMBER 2.00 X 0 0 0 JAMES ROSENFELD BOARD MEMBER 2.00 X 0 0 0 SHERI ROSENFELD BOARD MEMBER 2.00 X 0 0 0 PAUL ROSENGARD BOARD MEMBER 2.00 X 0 0 0 YEHUDA SHMIDMAN BOARD MEMBER 2.00 X 0 0 0 STANLEY SILVERSTEIN BOARD MEMBER 2.00 X 0 0 0 DAVID SIRKIN BOARD MEMBER 2.00 X 0 0 0 CHIP THOMPSON BOARD MEMBER 2.00 X 0 0 0 JOHN TIGHE BOARD MEMBER 2.00 X 0 0 0 LANA TODOROVICH BOARD MEMBER 2.00 X 0 0 0 ELECTA VARNISH BOARD MEMBER 2.00 X 0 0 0 JENNIFER VECCHIO BOARD MEMBER 2.00 X 0 0 0 RON VENTRICELLI BOARD MEMBER 2.00 X 0 0 0 KENNETH WYSE BOARD MEMBER 2.00 X 0 0 0 MARIE COLLETTA DIRECTOR OF ED PROGRAMS 40.00 X 122932 0 0 DOUGLAS C EVANS FORMER EXECUTIVE DIRECTOR 0.00 X 119766 0 0 285006 0 0 2 1 0 0 NEW YORK MARRIOT MARQUIS 1535 BROADWAY NEW YORK NY 10036 VENUE FOR GALA EVENT 142500 SANDLER SEARCH ASSOCIATES LLC 485 MADISON AVENUE 7TH FLOOR NEW YORK NY 10022 RECRUITING SERVICE 120650 2 2764533 52649 2817182 146948 146948 337083 273510 63573 63573 63573 562800 2764533 607608 -44808 -44808 OTHER INCOME 900099 9683 9683 9683 2992578 0 0 175396 1202500 1202500 200960 106509 40192 54259 400148 212625 77071 110452 47971 30890 3917 13164 39730 20934 7893 10903 500 500 84489 15572 56016 12901 95671 47836 12284 35551 126347 119662 6685 33226 6466 12644 14116 5317 393 4531 393 87516 29172 29172 29172 80827 70411 10416 4665 933 2799 933 SUMMER SERIES 25924 25924 SLIDE ROOM/FSF CONNECT 19870 19870 SOCIAL MEDIA INITIATIVE 13370 13370 INTERN FAIR/EDUCATOR FO 8330 8330 14102 7083 7019 2491463 1938480 254038 298945 190581 233078 7830 0 94551 48088 6020558 6685083 102264 103710 24829 24829 6440613 7094788 452 117280 10738 10738 11190 128018 X 5958155 6866770 371268 0 100000 100000 6429423 6966770 6440613 7094788 X 501115 83610 -47378 0 X X 0 1 X 1 0 X 2746159 3411794 3181117 1332776 2817182 13489028 2746159 3411794 3181117 1332776 2817182 13489028 1085126 12403902 49286 127751 142989 135889 146948 602863 15288 15288 3307 19 1647 9683 14656 14121835 0.87830 0.84760 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2014 AMOUNT: $ 3,307. 2015 AMOUNT: $ 19. 2016 AMOUNT: $ 1,647. 2018 AMOUNT: $ 9,683. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1845193 176754 2021947 1682030 163163 1845193 1506066 175964 1682030 1320153 185913 1506066 1247572 72581 1320153 0.95050 0.04950 0.00000 0 0 0 DEFERRED RENT 10738 10738 X 3076188 83610 83610 2992578 0 2992578 2491463 0 2491463 0 2491463 PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT CONSISTS OF A DONOR DESIGNATED FUND AND A BOARD DESIGNATED FUND THAT WAS ESTABLISHED TO PROVIDE A CONTINUOUS INCOME STREAM TO SUPPORT ITS OPERATIONS. PART X, LINE 2: FSF RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. MANAGEMENT HAS DETERMINED THAT FSF HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. FSF IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR THE PERIODS PRIOR TO JULY 31, 2016. ANNUAL GALA 3327333 2764533 562800 410011 197597 3327333 2764533 562800 410011 197597 607608 -44808 1 SCHOLARSHIPS 206 1202500 PART I, LINE 2: FULL-TIME STUDENTS ENROLLED AT ONE OF 60 MEMBER SCHOOLS WITH A GPA OF 3.0 OR HIGHER PURSUING CAREERS IN THE FASHION INDUSTRY ARE ELIGIBLE TO RECEIVE SCHOLARSHIPS. THE SCHOLARSHIP CHECKS ARE WRITTEN DIRECTLY TO THE SCHOOL ON BEHALF OF THE STUDENTS. A LETTER ACCOMPANIES THE CHECKS NOTIFYING THE BURSARS OFFICE OF HOW THE MONEY IS TO BE USED. ACADEMIC PERFORMANCE OF SCHOLARSHIP RECIPIENTS IS MONITORED FOR ELIGIBILITY. X X X 0 0 0 0 0 0 0 1 0 DOUGLAS C EVANS FORMER EXECUTIVE DIRECTOR 119766 0 0 0 0 0 0 0 0 0 119766 0 0 0 PART I, LINE 7 DIRECTOR OF EDUCATION: MARIE COLLETA RECEIVED BONUS PAYMENT IN THE AMOUNT OF $6,072 IN CALENDAR YEAR 2018. BONUSES WERE TAXABLE AND REPORTED ON THE INDIVIDUALS' 2018 FORM W-2. FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS JAMES ROSENFELD AND SHERI ROSENFELD HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM BASED ON DATA PROVIDED BY THE ORGANIZATION, AND IS REVIEWED BY THE ORGANIZATION'S TREASURER AND EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF GOVERNORS, OFFICERS AND EMPLOYEES ARE REQUIRED TO DISCLOSE ACTUAL OR POTENTIAL CONFLICTS OF INTEREST WITH THE GOVERNING BOARD. AFTER DISCLOSURE, THE MEMBER MAY NOT PARTICIPATE OR OTHERWISE BE INVOLVED WITH THE DISCUSSIONS, DELIBERATIONS, OR DECISIONS ON ANY MATTER BEFORE THE BOARD WITH RESPECT TO WHICH HE MAY, DIRECTLY OR INDIRECTLY, HAVE A CONFLICT OF INTEREST. THE ANNOUNCEMENT BY A MEMBER THAT HE WILL NOT PARTICIPATE IN THE DISCUSSION OR DECISION ON A MATTER IS TO BE ENTERED IN THE MINUTES OF THE MEETING. ON AN ANNUAL BASIS, EACH MEMBER IS REQUIRED TO SIGN A STATEMENT WHICH AFFIRMS THAT THEY RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF GOVERNORS AFTER A THOROUGH REVIEW PROCESS AGAINST MEASURABLE GOALS. THE COMMITTEE UTILIZES COMPENSATION DATA FROM SIMILARLY SITUATED NON-PROFIT ORGANIZATIONS TO DETERMINE COMPENSATION. THE MEETINGS OF THE EXECUTIVE COMMITTEE OF THE BOARD ARE CONTEMPORANEOUSLY DOCUMENTED. THIS PROCESS WAS LAST COMPLETED IN FY2019. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. THE FORM 990 IS ALSO AVAILABLE ON GUIDESTAR.ORG. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION PROCESS OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XI, LINE 8 DURING FY2019, THE BEGINNING BALANCE OF FY2019 NET ASSET DECREASED BY $47,378 DUE TO THE INCREASE OF SALARIES EXPENSE BY $7,378 AND RECRUITMENT FEES BY $40,000.