2013-05-15T15:38:39-05:00 2012-06-30 420714325 MCGLADREY LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2011-07-01 364067510 Carol Lavin Bernick Family Supporting Foundation CARO 3123574790 30 South Wells Street No 4049 Chicago IL 60606 David S Rosen 3123574790 2013-05-15 1 David Faje P00031371 3126343400 2011 2016-02-24 21:20:13Z Carol L Bernick 30 South Wells Street No 4049 Chicago IL 60606 479906 0 X N/A X 1995 IL The Foundation is organized to foster, promote, support, develop, encourage, and maintain the broad charitable, educational, and/or religious purposes of The Jewish Federation of Metropolitan Chicago and the foundation as authorized in their by-laws. 5 3 0 3 0 0 0 0 0 0 1299824 479906 0 0 1299824 479906 29600 2159500 0 0 0 0 0 0 0 3428 3413 33028 2162913 1266796 -1683007 3231281 1231806 3400 3400 3227881 1228406 The Foundation is organized to foster, promote, support, develop, encourage, and maintain the broad charitable, educational, and/or religious purposes of The Jewish Federation of Metropolitan Chicago and the Foundation as authorized in their by-laws. 0 0 2159500 2159500 The Foundation makes grants to charitable organizations which are tax exempt under the IRC Section 501(c)(3) and meet the guidelines of the charter of The Jewish Federation of Metropolitan Chicago and the by-laws of the Foundation. 2159500 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 3 1 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 0 0 0 IL X Peter Chiswick 3124442814 30 S Wells Street Suite 4049 Chicago IL 60606 Carol L Bernick 0.30 X X 0 0 0 Elizabeth C Bernick 0.30 X X 0 0 0 Marshall E Eisenberg 0.30 X X 0 0 0 David S Rosen 0.30 X X 0 290817 122131 Dr Steven B Nasatir 0.30 X X 0 74402 15485 James Pinkston 0.30 X 0 23158 2722 Eric Devir 0.30 X 0 41716 10439 0 430093 150777 0 0 1 0 0 19196 19196 460710 0 460710 460710 460710 479906 0 0 479906 2159500 2159500 3400 3400 Filing Fees 13 13 2162913 2159500 3413 0 1844992 637660 1386289 584146 0 10000 3231281 1231806 3400 3400 3400 3400 X 0 0 0 0 3227881 1228406 3227881 1228406 3231281 1231806 X -1683007 -316468 X 0 1 1 X 0 X X X 0 0 0 Jewish Federation of Metropolitan Chicago 362167761 7 1 50000 1 50000 0 Jewish Federation of Metropolitan Chicago Pooled Investment Fund 584146 F 584146 Description of Uncertain Tax Positions Under FIN 48: Part X: Carol Lavin Bernick Family Supporting Foundation (the Foundation) is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable state law. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Foundation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. At June 30, 2012 and 2011, there were no unrecognized tax benefits identified or recorded as liabilities. The Foundation files Form 990 in the U.S. federal jurisdiction and the State of Illinois. The Foundation is generally no longer subject to examination by the Internal Revenue Service for years before 2009. 1 Oak Park Temple 1235 North Harlem Avenue Oak Park IL 60302 362287537 501(c)(3) 58000 General operating support Jewish Federation of Metropolitan Chicago 30 South Wells Street Suite 4049 Chicago IL 60606 362167761 501(c)(3) 50000 General operating support Jewish United Fund of Metropolitan Chicago 30 South Wells Street Suite 4049 Chicago IL 60606 362167034 501(c)(3) 50000 General operating support Chicago Community Trust 111 East Wacker Drive Chicago IL 60601 362167000 501(c)(3) 2000000 General operating support 4 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Foundation staff perform due diligence on all organizations seeking grants from the Foundation and review grant compliance each year. 0 1 0 0 0 0 0 0 0 David S Rosen 0 278152 0 0 0 12665 0 114632 0 8276 0 413725 0 0 Part I, Line 4b Steven B. Nasatir: In 1999 the Jewish Federation entered into an agreement with Steven Nasatir that was contingent upon 5 more years of service as president and CEO and would result in annual payments of $50,000 per year (net of tax) beginning at age 64 and lasting throughout his lifetime. Dr. Nasatir began receiving payments under this agreement in 2009. The $50,000 per year amount is to be adjusted annually in accordance with the CPI index. This benefit is payable to him only for as long as he lives. There is no guaranteed payment amount and no survivor benefit at his death. In addition, the Jewish Federation has agreed to provide Steven Nasatir with a split dollar $1,000,000 insured death benefit. The insurance is designed so that upon Steven Nasatir's death, the Federation will receive a benefit equal to all of the premiums paid. The life insurance benefit is provided tax free to Steven Nasatir so there is an additional cash payment to Steven Nasatir each year to cover the taxes on the PS58 costs as well as the taxes grossed up. David Rosen: The Jewish Federation has an agreement with David Rosen which provides for annual payments of $25,000 per year beginning in 2018 and lasting for ten years. Form 990, Part VI, Section A, line 2 Carol L. Bernick and Elizabeth C. Bernick have a family relationship. Form 990, Part VI, Section A, line 6 The by-laws stipulate that members of the Foundation are divided into threeclasses: the donor member, the independent member and the publicly supported organization member, which is the Jewish Federation of Metropolitan Chicago. Form 990, Part VI, Section A, line 7a The board of directors consists of 5 total person, 2 of whom are elected by the donor member, 1 of whom is elected by the independent member, and 2 of whom are elected by the publicly supported organization member pursuant to its established procedures. Form 990, Part VI, Section B, line 11 A board member and officer appointed by the Jewish Federation reviewed the Form 990 prior to filing. Form 990, Part VI, Section B, line 12c A conflict of interest questionnaire is circulated to all Board Members on an annual basis. This process is managed by the Foundation's Secretary who ensures all questionnaires are completed. The complete questionnaires are reviewed and any conflicts are disclosed to the Board of Directors. If a Director does have a conflict or business relationship, he or she is required to abstain from any votes related to that matter. Form 990, Part VI, Section C, line 19 Upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -316,468. Jewish Federation of Metropolitan Chicago 30 South Wells Suite 4049 Chicago IL 60606 362167761 Social Welfare Institution IL 501(c)(3) Line 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0