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IMG CHARITY FOUNDATION INC: Form 990PF, tax year 2016

View the entire original 990 at ProPublica ↗

Organization
IMG CHARITY FOUNDATION INC (EIN 81-0862696)
Tax period
2016-01-01 to 2016-12-31
Filed
2017-05-09
IRS object ID
201721299349101362
Schema version
2016v3.0
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)
Return2017-05-09T12:38:06-05:00ReturnTs
Tax Period End2016-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Berdon LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1360 Madison AveAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10017ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2016-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN810862696EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1IMG Charity Foundation IncBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% ISAAC A GINDIInCareOfNm
Business Name ControlIMGCBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1175 BroadwayAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10017ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonISAAC A GINDIPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone2128320400PhoneNum
Signature2017-05-15SignatureDt

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMAURY GOLBERTPreparerPersonNm
PTINP00748248PTIN
Phone2128320400PhoneNum

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address72.22.173.199IPv4AddressTxt
FieldValueIRS element (for citing)
Federal Original Submission Id26377420171295000036FederalOriginalSubmissionId
Federal Original Submission Id2017-05-09FederalOriginalSubmissionIdDt
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id834649B1B1E73A7981AE29CE15A3CF75D5B5F874AtSubmissionCreationDeviceId
At Submission Filing Device Id834649B1B1E73A7981AE29CE15A3CF75D5B5F874AtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2016TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$530,123FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$0ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$2,475DividendsRevAndExpnssAmt
Dividends Net Invst Incm$2,475DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$135,069NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$380,665GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$135,069CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$137,544TotalRevAndExpnssAmt
Total Net Invst Incm$137,544TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss$7,958TaxesRevAndExpnssAmt
Taxes Net Invst Incm$7,958TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$20,380OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$20,380OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$28,338TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$28,338TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$90,525ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$90,525ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$118,863TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$28,338TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$90,525TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$18,681ExcessRevenueOverExpensesAmt
Net Investment Income$109,206NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$507,487SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$239,270SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$239,270SavAndTempCashInvstEOYFMVAmt
Corporate Stock EOY$286,898CorporateStockEOYAmt
Corporate Stock EOYFMV$290,853CorporateStockEOYFMVAmt
Total Assets BOY$507,487TotalAssetsBOYAmt
Total Assets EOY$526,168TotalAssetsEOYAmt
Total Assets EOYFMV$530,123TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$507,487RetainedEarningBOYAmt
Retained Earning EOY$526,168RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$507,487TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$526,168TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$507,487TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$526,168TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$507,487TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$18,681ExcessRevenueOverExpensesAmt
Subtotal$526,168SubtotalAmt
Tot Net Ast Or Fund Balances EOY$526,168TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (5 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
1000 CONTINENTAL RESOURCES INCP2016-01-222016-06-15$41,965$19,422$22,543$22,543
1500 SHARES BANK OF AMERICA CORPP2016-02-052016-09-01$23,756$19,505$4,251$4,251
10000 SHARES RADIAN GROUP INCP2016-01-222016-09-09$136,456$102,830$33,626$33,626
113 SHARES VALEANT PHARMACEUTICALSP2016-03-082016-12-08$1,725$5,537-$3,812-$3,812
10000 SHARES RADIAN GROUP INCP2016-01-272016-12-20$176,763$98,302$78,461$78,461
FieldValueIRS element (for citing)
Capital Gain Net Income$135,069CapitalGainNetIncomeAmt
FieldValueIRS element (for citing)
Qlfy Und Sect4940e Reduced TaxQlfyUndSect4940eReducedTaxGrp

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$2,184InvestmentIncomeExciseTaxAmt
Subtotal$2,184SubtotalAmt
Tax Based On Investment Income$2,184TaxBasedOnInvestmentIncomeAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$65EsPenaltyAmt
Tax Due$2,249TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateNYOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1ISAAC A GINDIBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2128320400PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line11865 E 8TH STREETAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11223ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
ISAAC A GINDI
1865 E 8TH STREETBROOKLYNNY11223President0$0$0$0
MARJORIE GINDI
1865 E 8TH STREETBROOKLYNNY11223Secretary0$0$0$0
RAYMOND GINDI
1865 E 8TH STREETBROOKLYNNY11223Treasury0$0$0$0
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1NOT APPLICABLEDescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$151,674AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$415,201FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$566,875TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$566,875AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$8,503CashDeemedCharitableAmt
Net Vl Noncharitable Assets$558,372NetVlNoncharitableAssetsAmt
Minimum Investment Return$27,919MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$27,919MinimumInvestmentReturnAmt
Tax Based On Investment Income$2,184TaxBasedOnInvestmentIncomeAmt
Total Tax$2,184TotalTaxAmt
Distributable Before Adj$25,735DistributableBeforeAdjAmt
Distributable Before Ded$25,735DistributableBeforeDedAmt
Distributable As Adjusted$25,735DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$90,525ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$90,525QualifyingDistributionsAmt
Adjusted Qualifying Distri$90,525AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$25,735DistributableAsAdjustedAmt
Undistributed Income PY$4,665UndistributedIncomePYAmt
Prior Year12014PriorYear1Yr
Prior Year22013PriorYear2Yr
Prior Year32012PriorYear3Yr
Excess Distribution Cyov Yr1$0ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$90,525QualifyingDistributionsAmt
Applied To Year1$4,665AppliedToYear1Amt
Applied To Current Year$25,735AppliedToCurrentYearAmt
Remaining Distri From Corpus$60,125RemainingDistriFromCorpusAmt
Total Corpus$60,125TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$60,125ExcessDistriCyovToNextYrAmt
Excess From Year1$0ExcessFromYear1Amt
Excess From Current Year$60,125ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (8 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
CONGREGATION AHAVAS TZEDAKAH V'CHESED
1347 42nd stbrooklynNY11219noneGeneral Purpose$11,000
BNEI BINYOMIN TORAH CENTER
727 AVENUE 0BROOKLYNNY11230NONETO SUPPORT PROGRAMS TO HELP THOSE IN NEED.$1,400
BNEI YITZHAK
730 AVENUE SBROOKLYNNY11223NONETO FUND NEW PROGRAMS AND SPEAKERS TO OFFER A FAMILY FRIENDLY ENVIRONMENT.$45,825
BONEI OLAM
1755 46TH STREETBROOKLYNNY11204NONETO SUPPORT PROGRAMS TO HELP COUPLES WHO ARE CHILDLESS ACHIEVE THEIR DREAM OF PARENTHOOD.$1,800
NEW YORK UNIVERSITY
383 Lafayette StreetNEW YORKNY10003NONETO SUPPORT FUNDS THAT ADDRESS UNIVERSITY'S NEEDS, INCREASE SCHOLARSHIPS AND FELLOWSHIPS, AND IMPROVE UNIVERSITY'S PROGRAMS.$20,000
FRANCO FOUNDATION
613 Bromley StSilver SpringMD20902NONETO HELP THOSE IN NEED'S EDUCATION.$7,000
OHEL SIMCHA SUPER FUND
295 PARK AVENUELONG BRANCHNJ07740NONEGENERAL PURPOSE$1,000
SEAS IT
PO 51ALLENHURSTNJ07711NONETO FUND PROGRAMS TO HELP CANCER PATIENTS AND THEIR FAMILIES IN FIGHTING CANCER.$2,500
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$90,525TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp
Int On Sav And Temp Cash InvstIntOnSavAndTempCashInvstGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$2,475ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment Incm Part VIIOtherInvestmentIncmPartVIIGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$135,069ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$137,544ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$137,544TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Depreciation Schedule DepreciationSchedule

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
BANK CHARGE$25$25
MANAGEMENT FEE$20,355$20,355

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmt
FOREIGN TAX$126$126
FEDERAL TAX$7,832$7,832

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