2015-02-25T16:30:05-06:00 2014-05-31 133597814 SKODY SCOT & CO CPAS PC 520 EIGHTH AVE SUITE 2200 NEW YORK NY 10018 990 2013-06-01 455230138 ISRAEL & CO ISRA 2125281500 205 EAST 42ND STREET NO 16FL NEW YORK NY 10017 RAPHAEL N MUSHER PRESIDENT 2125281500 2015-02-25 1 WILLIAM SKODY P00631754 2129671100 2015-02-25 2013 2016-02-25 16:41:14Z X RAPHAEL N MUSHER 205 EAST 42ND STREET NO 16FL NEW YORK NY 10017 2015438 0 X N/A X 2012 DE THE MISSION OF THE ORGANIZATION IS TO EDUCATE A GENERATION OF LEADERS ABOUT ISRAEL'S VALUES AND GLOBAL CONTRIBUTIONS TO THE WORLD, AND TO EXPOSE THEM TO THE SKILLS AND EDUCATION THAT ISRAEL CAN OFFER THEM PERSONALLY. 3 3 0 0 0 0 5500 2015438 0 0 0 0 0 0 5500 2015438 0 24225 0 0 0 40772 0 0 95112 60 1146465 60 1211462 5440 803976 5440 936614 0 127198 5440 809416 THE MISSION OF THE ORGANIZATION IS TO EDUCATE A GENERATION OF LEADERS ABOUT ISRAEL'S VALUES AND GLOBAL CONTRIBUTIONS TO THE WORLD, AND TO EXPOSE THEM TO THE SKILLS AND EDUCATION THAT ISRAEL CAN OFFER THEM PERSONALLY. 0 0 893370 24225 TO ACCOMPLISH ITS MISSION, ISRAEL AND CO.'S FIRST PILOT PROGRAM, "ITREK," FOCUSES ON TOP US AND INTERNATIONAL MBA PROGRAMS, WHICH HAVE PROVEN TO BE SOURCES OF FUTURE LEADERS IN BUSINESS, AND INFLUENCERS IN A VARIETY OF GLOBAL ISSUES. THE ITREK PROGRAM HELPS MBA PROFESSORS AND STUDENTS CREATE 7-10 DAY GUIDED TRIPS TO ISRAEL THROUGHOUT THE YEAR. ISRAEL & CO. HELPS FACULTY AND STUDENT LEADERS TO PROMOTE AND RECRUIT FOR THE TRIPS, ARRANGE LOGISTICS, AND PROVIDES ON-SITE TOUCH-POINTS FOR TRIP PARTICIPANTS, CUSTOMIZED ITINERARIES, COORDINATION WITH KEY BUSINESS AND GOVERNMENT LEADERS, PROMOTIONAL TOOLS, EDUCATIONAL READING MATERIALS, T-SHIRTS, PHOTO ALBUMS AND SOCIAL MEDIA SUPPORT. 893370 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 9 0 1 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 1 0 0 1 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 NY X THE ORGANIZATION 2125281500 205 EAST 42ND STREET NO 16FL NEW YORK NY 10017 X RAPHAEL N MUSHER CHAIRMAN 1.00 X 0 0 0 AARON LAPAT DIRECTOR 1.00 X 0 0 0 HARRY POLONER DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 US ISRAEL BUSINESS COUNCIL INC 250 GREENWICH STREET 46TH FL NEW YORK NY 10007 MANAGEMENT FEES 295873 1 40000 1975438 2015438 2015438 0 0 0 X 17845 17845 6380 6380 34601 15700 13326 5575 2826 1282 1089 455 3345 1518 1288 539 399437 209155 101739 88543 16940 16940 15619 15619 140146 107742 32404 13434 3533 9901 41483 21500 19983 58312 54566 3746 6945 6945 DELAGATION TRIP EXPENSE 387465 387465 CREATIVE & DESIGN SERVI 29193 29193 VIDEO PRODUCTION 22761 22761 PROGRAM SUPPLIES & EXPE 14730 14730 1211462 893370 222980 95112 X 440209 227655 117442 95112 5440 678181 230000 28433 5440 936614 113353 13845 0 127198 X 5440 243800 565616 5440 809416 5440 936614 803976 0 X 0 1 X 0 0 X 5500 2015438 2020938 5500 2015438 2020938 1202486 818452 2020938 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 2115438 100000 100000 2015438 0 2015438 1311462 100000 100000 1211462 0 1211462 0 0 0 0 0 0 0 0 0 0 EUROPE (INCLUDING ICELAND & GREENLAND) GRANTS FOR UNIVERSITY DELEGATIONS 6380 1 0 0 0 0 0 0 0 GEORGE WASHINGTON UNIVERSITY 2121 EYE STREET NW WASHINGTON DC 20052 530196584 501(C)(3) 10000 GRANTS FOR UNIVERSITY DELEGATIONS GRANTS FOR UNIVERSITY DELEGATIONS GRANTS FOR UNIVERSITY DELEGATIONS 1 FORM 990, PART VI, SECTION A, LINE 3 IN APRIL 2011, THE ORGANIZATION ENTERED INTO A FIVE YEAR MANAGEMENT AGREEMENT WITH U.S, ISRAEL BUSINESS COUNCIL, INC. (USIBC.) USIBC IS AN EXISTING NON-PROFIT ENTITY, THAT PROVIDED STAFF INCLUDING FULL-TIME AND PART TIME RESOURCES DEDICATED TO THE ORGANIZATION'S EFFORT, IN ADDITION TO SHARED OFFICE SPACE AND SERVICES. SALARIES AND EXPENSES ARE CHARGED AS PASS-THROUGH WITHOUT A MARKUP, AND SHARED RESOURCES ARE ALLOCATED BY PERCENTAGE USAGE, AND DETAILED MONTHLY ON USIBC INVOICES. IN JUNE 2013, THE ORGANIZATION RECEIVED ITS TAX EXEMPT STATUS, AND STAFF BEGAN TRANSITIONING FROM THE USIBC CONTRACT TO BEING FULLY EMPLOYED BY THE ORGANIZATION. MOST OF THE STAFF HAS TRANSITIONED OVER TO THIS ORGANIZATION. USIBC WILL CONTINUE TO PROVIDE SOME LEVEL OF FLEXIBLE STAFFING FOR THE ORGANIZATION, AND USIBC WILL CONTINUE CHARGE TO FOR OTHER SHARED SPACE AND COSTS. THE AGREEMENT AUTOMATICALLY RENEWS FOR AN ADDITIONAL FIVE YEAR PERIOD UNLESS OTHERWISE TERMINATED. THE AGREEMENT MAY BE TERMINATED BY EITHER PARTY AT ANY TIME WITH 45 DAYS' WRITTEN NOTICE. DURING THE YEAR ENDED MAY 31, 2014, THE ORGANIZATION PAID A TOTAL OF $505,477 TO USIBC. THIS CONSISTED OF $399,437 OF MANAGEMENT FEES AND $106,040 OF REIMBURSED EXPENSES. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION WAS FORMED AS A MEMBERSHIP ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE ORGANIZATION'S GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE 990 HAS BEEN REVIEWED BY A GROUP OF PERSONS AUTHORIZED TO REVIEW FINANCIAL AND AUDIT MATTERS PRIOR TO FILING. THE FINAL 990 (FILED WITH THE IRS) WILL BE AVAILABLE AT THE NEXT MEETING OF THE BOARD FOR INSPECTION. IN ADDITION, UPON REQUEST OF ANY BOARDMEMBER, A COPY WILL BE PROVIDED. IF THERE ARE ANY MATERIAL CHANGES, AN AMENDED 990 WILL BE FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION ENFORCES THE CONFLICT OF INTEREST POLICY BY MONITORING KNOWN RELATIONSHIPS, QUESTIONNAIRES, AND NOTING ANY CHANGES IN DISCLOSED INFORMATION. ANY CONFLICT IS REVIEWED BY THE BOARD BEFORE A DECISION IS MADE AS TO WHETHER TO APPROVE THE TRANSACTION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS: PROGRAM SERVICE EXPENSES 107,742. MANAGEMENT AND GENERAL EXPENSES 32,404. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 140,146. US ISRAEL BUSINESS COUNCIL 250 GREENWICH STREET NEW YORK NY 10007 273923348 BUSINESS COUNCIL NY 501(C)(6) 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 US ISRAEL BUSINESS COUNCIL L 399437 MGMT FEES - SEE SCH O US ISRAEL BUSINESS COUNCIL P 106040 REIMB EXP - SEE SCH O