2013-08-13T16:07:14-05:00 2012-09-30 420714325 MCGLADREY LLP 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2011-10-01 132909403 INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION INTE 2126837772 135 WEST 29TH STREET NO 303 NEW YORK NY 10001 JANICE G STOLAR 2126837772 2013-08-13 1 MARTIN GREIF P00029738 2123721000 2011 2016-02-24 21:20:13Z JANICE G STOLAR 135 WEST 29TH STREET NO 303 NEW YORK NY 10001 5117825 0 X WWW.ISEF.ORG X 1977 NY INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION'S MISSION IS TO NARROW ISRAEL'S SOCIO-ECONOMIC GAP THROUGH HIGHER EDUCATION. ITS UNIQUE METHODOLOGY COMBINES SCHOLARSHIP SUPPORT FOR GIFTED YOUNG PEOPLE FROM DISADVANTAGED BACKGROUNDS WITH COMMUNITY SERVICE, LEADERSHIP TRAINING, AND SOCIAL CONSCIENCE-BUILDING. 27 27 9 60 0 0 3018790 2978605 0 0 236636 250552 -38347 -55302 3217079 3173855 2517529 2387544 0 0 417458 473683 45000 47500 433228 341478 431968 3321465 3340695 -104386 -166840 5698701 5698620 17527 9030 5681174 5689590 X INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION'S MISSION IS TO NARROW ISRAEL'S SOCIO-ECONOMIC GAP THROUGH HIGHER EDUCATION. ITS UNIQUE METHODOLOGY COMBINES SCHOLARSHIP SUPPORT FOR GIFTED YOUNG PEOPLE FROM DISADVANTAGED BACKGROUNDS WITH COMMUNITY SERVICE, LEADERSHIP TRAINING, AND SOCIAL CONSCIENCE-BUILDING. 0 0 2477068 2387544 THE INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION PROVIDES FUNDS TO ITS AFFILIATE ORGANIZATION IN ISRAEL, THROUGH WHICH SCHOLARSHIPS ARE PROVIDED TO ISRAELI CITIZEN STUDENTS STUDYING IN ISRAEL, AT THE UNDERGRADUATE, GRADUATE AND POST-GRADUATE LEVELS. DURING THE ACADEMIC YEAR 2011-2012, APPROXIMATELY 523 STUDENTS IN ISRAEL RECEIVED ASSISTANCE THROUGH THIS PROGRAM. IN ADDITION, 26 INTERNATIONAL SCHOLARS, ALL ISRAELI CITIZENS, RECEIVED INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION SCHOLARSHIPS FOR THE ACADEMIC YEAR 2011-2012, SO THAT THEY COULD PARTICIPATE IN PHD, MD, LAW OR POST DOCTORATE PROGRAMS AT VARIOUS UNIVERSITIES IN THE UNITED STATES, CANADA AND EUROPE. 2477068 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 16 0 1 9 1 0 0 0 0 0 1 1 0 0 0 0 X 27 27 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X ANITA SCHNEE 2126837772 135 WEST 29TH STREET NEW YORK NY 10001 AVI ABERGEL 1.00 X 0 0 0 NORMAN BELMONTE 1.00 X 0 0 0 ABRAHAM EBARRY COHEN 1.00 X 0 0 0 CARLOS BENAIM 1.00 X 0 0 0 YVONNE COHEN 1.00 X 0 0 0 DAREL M BENAIM 1.00 X 0 0 0 DAVID DANGOOR 1.00 X 0 0 0 LISA SASSON CHETRIT 1.00 X 0 0 0 SAMUEL ELIA 1.00 X 0 0 0 ROYSI ERBES 1.00 X 0 0 0 SIMON ELIAS 1.00 X 0 0 0 HARVEY M KRUEGER 1.00 X 0 0 0 EZRA MARCOS 1.00 X 0 0 0 JOSEF NAJAR 1.00 X 0 0 0 JOSEPH M ROSE 1.00 X X 0 0 0 ALBERT NASSER 1.00 X 0 0 0 JACQUES NASSER 1.00 X 0 0 0 DR JUDY ROSENBERG 1.00 X 0 0 0 MAYER ROSENZWEIG 1.00 X 0 0 0 RICHARD ROTHBERG 1.00 X 0 0 0 NINA A WEINER 1.00 X 0 0 0 DANIEL ROUBENI 1.00 X 0 0 0 WALTER H WEINER 1.00 X 0 0 0 ROBERT SHASHA 10.00 X 0 0 0 MICHAEL MIKI VAKNIN 1.00 X 0 0 0 JUDITH WOLFF 1.00 X 0 0 0 KATRIN YAGHOUBI SOSNICK 1.00 X 0 0 0 JANICE STOLAR 35.00 X 97923 0 180 97923 0 180 0 0 0 0 0 600002 2378603 77087 2978605 223119 223119 1843201 1815768 27433 27433 27433 72900 600002 128202 -55302 -55302 3173855 0 0 195250 2387544 2387544 193115 30494 76470 86151 210938 33308 83527 94103 36867 36867 32763 5172 12973 14618 58115 58115 47500 47500 25636 20550 5086 12430 12430 108929 108929 23678 23678 21186 21186 169670 169670 3141 3141 MISCELLANEOUS EXPENSES 9183 9183 3340695 2477068 430399 433228 367735 160406 52336 91640 379 31876 19526 3582 12350 5262722 5421519 12326 12326 5698701 5698620 17527 9030 17527 9030 X 1770893 1344641 383414 707081 3526867 3637868 5681174 5689590 5698701 5698620 X -166840 175256 X 0 1 1 X 0 X 3328552 2574012 1817692 3018790 2978605 13717651 3328552 2574012 1817692 3018790 2978605 13717651 7800036 5917615 249611 106992 178220 246702 223119 1004644 64779 64779 14787074 2099784 0.40020 0.39480 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3526867 236001 125000 3637868 3280617 246250 3526867 3170617 110000 3280617 2927217 468400 225000 3170617 1.00000 0 0 31876 19526 12350 12350 3173855 3340695 -166840 341500 -118389 223111 56271 4177652 341500 31504 630793 1003797 3173855 0 3173855 4121381 31504 749182 780686 3340695 0 3340695 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ALL OF THE INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION'S ENDOWMENT FUNDS ARE PERMANENTLY RESTRICTED. THE PRINCIPAL IS SAFEGUARDED AND THE INVESTMENT EARNINGS ARE USED FOR THE ISEF OPERATING BUDGET. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT EVALUATED ISEF'S TAX POSITIONS AND CONCLUDED THAT ISEF HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. GENERALLY, ISEF IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2007. PART XI, LINE 8 - OTHER ADJUSTMENTS: FOREIGN CURRENCY TRANSLATION LOSS -166,244. ISEF ISRAEL 47,855. TOTAL TO SCHEDULE D, PART XI, LINE 8: -118,389. PART XII, LINE 2D - OTHER ADJUSTMENTS: ISEF ISRAEL INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 630,793. PART XIII, LINE 2D - OTHER ADJUSTMENTS: ISEF ISRAEL INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 582,938. FOREIGN CURRENCY TRANSACTION LOSS 166,244. 1 MIDDLE EAST 0 0 GRANTMAKING 2078814 0 0 0 0 0 0 2078814 0 2078814 X MIDDLE EAST GENERAL SUPPORT/CHARITABLE ACTIVITIES 2078814 WIRE TRANSFER 1 0 EDUCATIONAL GRANT MIDDLE EAST 26 308730 WIRE TRANSFER 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: ISEF ISRAEL'S FUNDING FOR SCHOLARSHIP AND OTHER EXPENSES IS PROVIDED BY ISEF NEW YORK. ISEF ISRAEL PROVIDES SCHOLARSHIPS TO QUALIFIED STUDENTS THROUGH ASSOCIATED COLLEGES/UNIVERSITIES AND DIRECTLY TO THE STUDENTS. THE SCHOLARSHIPS ARE DESIGNATED ONLY FOR THOSE UNDERSERVED ISRAEL'S STUDENTS. ISEF ISRAEL WORKS CLOSELY WITH THESE INSTITUTIONS TO PROPERLY PROVIDE THE SCHOLARSHIPS IN ACCORDANCE WITH ISEF NEW YORK'S POLICY. FUNDS TRANSFERRED TO ISEF ISRAEL ARE APPROVED BY ISEF NEW YORK'S EXECUTIVE DIRECTOR AND TREASURER IN ACCORDANCE WITH ISEF NEW YORK'S POLICY. SCHEDULE F, PART II, LINE 1: FOR INDIVIDUAL GRANTS, THE INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION'S STUDENT AFFAIRS COMMITTEE, COMPRISED OF BOTH PROFESSIONAL STAFF AND VOLUNTEERS, DETERMINE THE INTERNATIONAL SCHOLARSHIP RECIPIENTS. THE CANDIDATES ARE SCREENED AND INTERVIEWED BY THE ISRAEL SCHOLARSHIP COMMITTEE. THEIR RECOMMENDATIONS ARE REVIEWED BY THE INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION'S STUDENT AFFAIRS COMMITTEE AND FINAL DECISIONS ARE MADE IN COLLABORATION WITH ISEF ISRAEL. X X X X X X 1 BARBI ZAKIN 370 EAST 76TH STREET SUITE B503 NEW YORK NY 10021 FUNDRAISING FOR ANNUAL BENEFIT DINNER 0 701299 47500 653799 701299 47500 653799 NY GALA EVENT 672902 600002 72900 128202 672902 600002 72900 128202 128202 -55302 X 3 77087 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING BOARD MEMBERS HAVE FAMILY RELATIONSHIP: - NINA A. WEINER AND WALTER H. WEINER - CARLOS BENAIM AND DAREL M. BENAIM - ABRAHAM E. (BARRY) COHEN AND YVONNE COHEN FORM 990, PART VI, SECTION B, LINE 11 FORM 990 WAS PROVIDED TO INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION'S BOARD MEMBERS IN ELECTRONIC FORM. FORM 990, PART VI, SECTION B, LINE 12C ON ANNUAL BASIS THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO EACH RESPECTIVE BOARD MEMBER AND HE/SHE WAS REQUIRED TO COMPLETE THE DISCLOSURE STATEMENT AND RETURN THE DOCUMENT TO THE INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION'S EXECUTIVE DIRECTOR. THE INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION'S EXECUTIVE DIRECTOR ALSO SENDS OUT AN ELECTRONIC COPY OF THE DOCUMENTS TO THOSE BOARD MEMBERS WHO ARE NOT PRESENT AT THE BOARD MEETING, ASKING THEM TO COMPLETE AND RETURN THE DISCLOSURE STATEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS THAT ISEF'S EXECUTIVE COMMITTEE USES TO DETERMINE COMPENSATION FOR THE POSITION OF EXECUTIVE DIRECTOR AS WELL AS TOP MANAGEMENT POSITIONS INCLUDES ACCESSING COMPARABILITY DATA AS PART OF THE DELIBERATION AND DECISION MAKING. AT THE SEPTEMBER 29, 2009 EXECUTIVE COMMITTEE MEETING, THE INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION'S EXECUTIVE COMMITTEE REVIEWED COMPARABLE NON PROFIT ORGANIZATION SALARIES IN LIGHT OF THE DOWNTURN IN THE ECONOMY. THE EXECUTIVE COMMITTEE DETERMINED THAT THE ENTIRE INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION'S STAFF, INCLUDING THE EXECUTIVE DIRECTOR, WOULD REDUCE THEIR SALARIES BY 8% FOR THE 2009-2010 FISCAL YEAR. AT THEIR MEETING ON SEPTEMBER 22, 2010, ISEF'S EXECUTIVE COMMITTEE DECIDED TO MAINTAIN THE 8% SALARY REDUCTION FOR THE 2010-2011 FISCAL YEAR DUE TO THE CONTINUING DOWNTURN IN THE ECONOMY. THE 8% SALARY REDUCTION WAS RESCINDED IN DECEMBER OF THE 2011-2012 FISCAL YEAR AS PER THE DECISION OF ISEF'S EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE INTERNATIONAL SEPHARDIC EDUCATION FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY PROVIDING COPIES ON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 341,500. FOREIGN CURRENCY TRANSLATION LOSS -166,244. TOTAL TO FORM 990, PART XI, LINE 5: 175,256. ISEF ISRAEL PO BOX 20201 10 KARLIBACH STREET TEL AVIV IS 67132 FUNDRAISING AND GRANT MAKING IS AMUTA LAW AMUTA LAW 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 ISEF INTERNATIONAL EDUCATION FOUNDATION Q 2387544 CASH