2016-08-15T13:57:59-05:00 2015-12-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2015-01-01 132961273 ISRAEL TENNIS CENTERS FOUNDATION INC ISRA 2127849200 57 WEST 38TH STREET NO 605 NEW YORK NY 10018 BRUCE APPEL CFO 6468847450 2016-08-15 1 ROBERT R LYONS CPA P00227472 2125038800 2016-08-15 2015 2016-12-15 16:53:06Z JACQUELINE S GLODSTEIN 57 WEST 38TH STREET NO 605 NEW YORK NY 10018 12433306 0 X WWW.ISRAELTENNISCENTERS.ORG X 1978 NY USING TENNIS AS A VEHICLE ITC IMPROVES THE QUALITY OF CHILDREN'S LIVES FROM ALL BACKGROUNDS IN ISRAEL, HELPING THEM MATURE INTO PRODUCTIVE CITIZENS. 57 57 10 250 0 0 4422252 4254797 0 0 749088 800229 0 0 5171340 5055026 3250501 2706526 0 0 1164433 1228722 0 0 1195713 737453 746538 5152387 4681786 18953 373240 23414247 22828941 3622278 3518284 19791969 19310657 X THROUGH THE MEDIUM OF TENNIS, THE ITC OFFERS COEXISTENCE PROGRAMS FOR JEWISH, ARAB, CHRISTIAN, DRUZE, AND BEDOUIN KIDS, HOLISTIC WELFARE PROGRAMS FOR AT-RISK CHILDREN, STRUCTURED PHYSICAL EDUCATION PROGRAMS FOR CHILDREN WITH DEVELOPMENTAL AND PHYSICAL DISABILITIES AND SPORTS AND EDUCATION WORKSHOPS TO HELP IMMIGRANT CHILDREN INTEGRATE INTO ISRAELI SOCIETY. OVER 20,000 CHILDREN ARE SERVED ANNUALLY. THE PROGRAMS NURTURE TOLERANCE AND COLLABORATION, PROMOTING A FUTURE OF PEACEFUL COEXISTENCE. 0 0 3047909 2706526 THE MAJOR PROGRAM ACCOMPLISHMENTS SUPPORTED AT THE ISRAEL TENNIS CENTERS IN 2015 REVOLVED AROUND RESOURCES SENT TO PROVIDE SCHOLARSHIPS TO UNDERPRIVILEGED AND AT RISK CHILDREN TO ATTEND SOCIAL IMPACT PROGRAMS AT THE CENTERS INCLUDING INSTALLATION OF ADDITIONAL BOMB SHELTERS, IMPROVEMENT AND SAFETY ENHANCEMENTS AT THE TENNIS CENTERS, SUPPORT OF HIGH PERFORMANCE TENNIS PROGRAMS AND COMPETITIVE TOURNAMENTS FOR CHILDREN, AS WELL AS COEXISTENCE AND SPECIAL NEEDS PROGRAMS FOR CHILDREN. 3047909 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 11 0 10 1 0 0 0 0 0 0 0 0 0 0 X 57 57 1 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 IL NY AL AK AZ AR CA CO CT FL GA HI KS KY LA ME MD MA MI MN MS MO DC NH NJ NM NC ND OH OK OR PA RI SC TN UT VA WA WI X BRUCE APPEL 2127849200 C/O ISRAEL TENNIS CENTERS FOUNDATIO NEW YORK NY 10010 ALAN GOLDNER ASSISTANT SECRETARY 2.00 X X 0 0 0 ALAN GOLDSTEIN DIRECTOR 2.00 X 0 0 0 AMY F HENDRICKS DIRECTOR 2.00 X 0 0 0 BARRY FEINBERG LIFETIME DIRECTOR 2.00 X 0 0 0 BENJAMIN BEILER DIRECTOR 2.00 X 0 0 0 BRUCE R BACHMANN DIRECTOR 2.00 X 0 0 0 BUNNY SHESTACK DIRECTOR 2.00 X 0 0 0 BURTON S URY DIRECTOR 2.00 X 0 0 0 DARREN ZEIDEL DIRECTOR 2.00 X 0 0 0 DAVID HIRSCH DIRECTOR 2.00 X 0 0 0 DAVID LIPPY DIRECTOR 2.00 X 0 0 0 DR ERIC S MARSHALL DIRECTOR 2.00 X 0 0 0 DR JOEL MANN DIRECTOR 2.00 X 0 0 0 DR WILLIAM H LIPPY LIFETIME DIRECTOR 2.00 X 0 0 0 EDWARD E REICIN DIRECTOR 2.00 X 0 0 0 EUGENE M GRANT DIRECTOR 2.00 X 0 0 0 GERALD L COHEN SECRETARY 2.00 X X 0 0 0 GERALD MILLMAN DIRECTOR 2.00 X 0 0 0 GLORIA BORIS LIFETIME DIRECTOR 2.00 X 0 0 0 H FRED LEVINE DIRECTOR 2.00 X 0 0 0 HAROLD ROSENSON LIFETIME DIRECTOR 2.00 X 0 0 0 JACOB SLEVIN DIRECTOR 2.00 X 0 0 0 JAMES E FRANK DIRECTOR 2.00 X 0 0 0 JEFFREY MARSHALL DIRECTOR (FORMER) 2.00 X 0 0 0 JILLIAN MERNS DIRECTOR 2.00 X 0 0 0 LOREN GREENSPON DIRECTOR (FORMER) 2.00 X 0 0 0 JOANNA SLEVIN DIRECTOR 2.00 X 0 0 0 JOYCE PERNIN ASST. TREASURER 2.00 X X 0 0 0 KAREN BERSTEIN DIRECTOR 2.00 X 0 0 0 LARRY GREENSPON LIFETIME DIRECTOR 2.00 X 0 0 0 LINDA J KATELL ROWAN DIRECTOR 2.00 X 0 0 0 MARY BIANCO DIRECTOR 2.00 X 0 0 0 MAURICE S COHEN DIRECTOR (FORMER) 2.00 X 0 0 0 MICHAEL RITTER TREASURER 2.00 X X 0 0 0 NORMA ROSENBERG DIRECTOR 2.00 X 0 0 0 ORIN S NEIMAN LIFETIME DIRECTOR 2.00 X 0 0 0 REBECCA HELLER DIRECTOR 2.00 X 0 0 0 RICHARD SAVITT LIFETIME DIRECTOR 2.00 X 0 0 0 MICHAEL WENTGES DIRECTOR 2.00 X 0 0 0 ROSALIND DEVON DIRECTOR 2.00 X 0 0 0 RICK STONE DIRECTOR 2.00 X 0 0 0 SANDRA L LIPPY DIRECTOR 2.00 X 0 0 0 SEYMOUR BRODE LIFETIME DIRECTOR 2.00 X 0 0 0 STEVE HALPERN DIRECTOR 2.00 X 0 0 0 STUART M SCHAPIRO DIRECTOR 2.00 X 0 0 0 SUE KARATZ DIRECTOR 2.00 X 0 0 0 SYDNEY SELATI VICE PRESIDENT (FORMER) 2.00 X X 0 0 0 THOMAS S BERNSTEIN DIRECTOR 2.00 X X 0 0 0 ALEX KULLMAN DIRECTOR (FORMER) 2.00 X 0 0 0 COREY LEVINE DIRECTOR 2.00 X 0 0 0 MARK MANN DIRECTOR 2.00 X 0 0 0 HAL MUNTER DIRECTOR 2.00 X 0 0 0 HOWARD PASTER DIRECTOR 2.00 X 0 0 0 IRWIN SHORR DIRECTOR 2.00 X 0 0 0 PHILIP SILBER PRESIDENT 2.00 X X 0 0 0 MAURY SLEVIN DIRECTOR (FORMER) 2.00 X 0 0 0 RABBI DAVID STEINHARDT DIRECTOR 2.00 X 0 0 0 JOSHUA BEILER DIRECTOR 2.00 X 0 0 0 MARY GRATEHOUSE DIRECTOR 2.00 X 0 0 0 ERAN NORNBERG DIRECTOR 2.00 X 0 0 0 PHYLLIS L PULLMAN DIRECTOR 2.00 X 0 0 0 STEVE ROSENBERG DIRECTOR 2.00 X 0 0 0 JEFFREY SIEGEL DIRECTOR 2.00 X 0 0 0 BRUCE APPEL CHIEF FINANCIAL OFFICER 40.00 X 136687 0 28549 PETER WAYNE NORTHEAST DEVELOMENT DIR. 40.00 X 120295 0 30390 JACQUELINE S GLODSTEIN EXECUTIVE V.P. GLOBAL DEVELOPMENT 40.00 X 262775 0 47595 RICHARD WEBER MARKETING DIRECTOR 40.00 X 100007 0 18079 YONI YAIR VP FOR DEVELOPMENT 40.00 X 159189 0 9873 778953 0 134486 5 0 1 0 0 4254797 750060 4254797 350330 350330 7828179 7378280 449899 449899 449899 5055026 0 0 800229 2706526 2706526 626291 108837 148402 369052 460351 79841 106094 274416 59587 10456 16006 33125 10251 1799 2754 5698 72242 12676 19405 40161 41000 24818 16182 15048 11512 3536 41193 41193 21943 8585 13358 32406 8532 8532 15342 74862 13337 16115 45410 43946 21757 2769 19420 32079 8345 8345 15389 80723 50684 30039 16955 5652 5651 5652 19143 6381 6381 6381 EXHIBITIONS & EVENTS 185516 185516 DONOR RECOGNITION 49458 49458 PRINTING 29037 610 28427 MISCELLANEOUS 23893 22501 1392 39336 1574 11157 26605 4681786 3047909 438164 1195713 41 1465906 1215853 3607714 3161680 32723 13039 11924 53752 145953 106825 26451 39128 9993079 10444603 7704294 7332647 572156 568198 23414247 22828941 99908 146597 289277 2549885 2724671 683208 647016 3622278 3518284 X 6544920 5933103 5222445 5402950 8024604 7974604 19791969 19310657 23414247 22828941 X 373240 -790663 -56130 -7759 X X 0 1 X 1 0 X 2781563 4759739 5713450 4422252 3104432 20781436 2781563 4759739 5713450 4422252 3104432 20781436 1334857 19446579 469178 437185 314389 324097 350330 1895179 22676615 0.85760 0.85770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18394569 627520 -133535 155055 18733499 17773276 300000 755046 433753 18394569 16987746 650000 1827795 1692265 17773276 18731431 112125 1318427 3110131 64106 16987746 21927213 1098719 -1215139 3012101 67261 18731431 0.42600 0.57400 0 0 145953 106825 39128 39128 STATE OF ISRAEL BONDS 6540400 F ALTERNATIVE INVESTMENTS 792247 F 7332647 CHARITABLE GIFT ANNUITY PAYABLE 647016 647016 X 4299768 -790663 35405 -755258 5055026 0 5055026 4669703 44047 44047 4625656 56130 56130 4681786 PART X, LINE 2: THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2015 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST ARRANGEMENTS 31,371. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 4,034. PART XII, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR BAD DEBT 44,047. 0 ISRAEL 0 0 PROGRAM SERVICES SOCIAL SERVICES USING TENNIS AS THE MEDIUM 2706526 0 0 0 0 0 0 2706526 0 2706526 ISRAEL SOCIAL SERVICES USING TENNIS AS THE MEDIUM 2706526 WIRE TRANSFER FMV 0 0 0 0 0 0 X X X 0 0 0 0 0 0 0 0 0 BRUCE APPEL CHIEF FINANCIAL OFFICER 126454 0 10233 0 0 0 0 0 28549 0 165236 0 0 0 PETER WAYNE NORTHEAST DEVELOMENT DIR. 120295 0 0 0 0 0 0 0 30390 0 150685 0 0 0 JACQUELINE S GLODSTEIN EXECUTIVE V.P. GLOBAL DEVELOPMENT 247775 0 15000 0 0 0 0 0 47595 0 310370 0 0 0 YONI YAIR VP FOR DEVELOPMENT 156189 0 3000 0 0 0 0 0 9873 0 169062 0 0 0 X 7 750060 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 DR. WILLIAM H. LIPPY AND SANDRA L. LIPPY ARE MARRIED; DAVID LIPPY IS THEIR SON. ROBERT KARATZ AND SUE KARATZ ARE MARRIED. THOMAS BERNSTEIN AND KAREN BERNSTEIN ARE MARRIED. JACOB SLEVIN AND MAURY SLEVIN ARE THE SONS OF JOANNA SLEVIN. JEFFREY MARSHALL IS THE SON OF ERIC MARSHALL. LOREN GREESPON IS THE NEPHEW OF LARRY GREENSPON. FORM 990, PART VI, SECTION A, LINE 6 ANY PERSON WHO SUBSCRIBES TO THE AIMS, PURPOSES AND OBJECTIVES OF THE CORPORATION AND WHO MAKES OR HAS MADE A CONTRIBUTION IN SUCH AMOUNT AS SHALL BE DETERMINED BY THE BOARD OF DIRECTORS, FROM TIME TO TIME, TO BE IN SUPPORT OF SUCH AIMS AND PURPOSES MAY BE A MEMBER OF THE CORPORATION. THE MEMBERS OF THE CORPORATION SHALL BE CLASSIFIED AS VOTING MEMBERS AND NON-VOTING MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A VOTING MEMBERS ARE SENT NAMES OF NOMINEES AT LEAST TWENTY DAYS BEFORE THE ANNUAL MEETING. OTHER NOMINATIONS MAY BE MADE IN WRITING BY FIFTY VOTING MEMBERS PROVIDED THAT SUCH NOMINATIONS ARE RECEIVED BY THE SECRETARY OF THE CORPORATION AT LEAST FIFTEEN DAYS BEFORE SUCH ANNUAL MEETING OF THE VOTING MEMBERS. NO PERSONS SHALL BE BALLOTED FOR DIRECTORS WHOSE NAMES ARE NOT PLACED IN NOMINATION IN ACCORDANCE WITH THE ABOVE. AT THE ANNUAL MEETING OF THE VOTING MEMBERS, THE CHAIRPERSON OF THE NOMINATING COMMITTEE SHAL PRESET ITS REPORT AND ANY OTHER NOMINATIONS THAT HAVE BEEN MADE IN ACCORDANCE WITH THE ABOVE. DIRECTORS FOR THE ENSUING TERM SHALL BE ELECTED BY A MAJORITY VOTE OF THE VOTING MEMBERS PRESENT. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEE SHALL HAVE THE AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. NO COMMITTEE SHALL HAVE THE AUTHORITY TO APPROVE OR RECOMMEND TO MEMBERS ACTIONS OR PROPOSALS REQUIRED TO BE APPROVED BY VOTING MEMBERS, FILL VACANIES ON THE BOARD OF DIRECTORS OR ANY COMMITTEES, ADOPT, AMEND OR REPEAL THESE BYLAWS, AUTHORIZE OR APPROVE QUALIFICATIONS FOR MEMBERS OR AUTHORIZE OR APPROVE DISSOLUTION OF THE COPORATION. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 WAS PROVIDED TO THE PRESIDENT AND TREASURER FOR THEIR REVIEW AND APPROVAL. ONCE APPROVED THE 990 IS CIRCULATED TO THE ENTIRE BOARD. ONCE THE BOARD HAS APPROVED THE 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE REQUIRED ANNUALLY TO COMPLETE AND SIGN A CONFLICT OF INTEREST POLICY DISCLOSURE FORM, WHICH IS THEN REVIEWED BY THE BOARD OF DIRECTORS EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE AND THE BUDGET COMMITTEE REVIEW AND SET THE COMPENSATION AMOUNTS OF ALL EMPLOYEES BY REVIEWING THE COMPARABLE FEDERAL COST OF LIVING SCHEDULES. THE BUDGET IS THEN APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT 31,371. CHANGE IN CASH SURRENDER VALUE OF INSURANCE 4,917. PROVISION FOR BAD DEBT -44,047. FORM 990, PART XII, LINE 2C THE FOUNDATION'S FINANCIAL STATEMENTS WERE AUDITED BY MARKS PANETH. THE ORGANIZATION'S BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR. THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT HAS NOT BEEN CHANGED FROM LAST YEAR.