2015-09-18T12:49:23-05:00 2014-12-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2014-01-01 132961273 ISRAEL TENNIS CENTERS FOUNDATION INC ISRA 2127849200 57 WEST 38TH STREET NO 605 NEW YORK NY 10010 BRUCE APPEL CFO 6468847450 2015-09-18 1 ROBERT R LYONS CPA P00227472 2125038800 2014 2016-04-25 22:37:26Z X JACQUELINE S GLODSTEIN 57 WEST 38TH STREET NO 605 NEW YORK NY 10010 5206253 0 X WWW.ISRAELTENNISCENTERS.ORG X 1978 NY USING TENNIS AS A VEHICLE, ITC IMPROVES THE QUALITY OF LIVES OF CHILDREN THROUGH ITS PROGRAMS. 56 56 11 250 0 0 5713450 4422252 0 0 1914883 749088 0 0 7628333 5171340 5192733 3250501 0 0 1250453 1164433 0 0 1144018 964703 737453 7407889 5152387 220444 18953 23129584 23414247 3410389 3622278 19719195 19791969 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 3550207 3250501 THE MAJOR PROGRAM ACCOMPLISHMENTS SUPPORTED AT THE ISRAEL TENNIS CENTERS IN 2014 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. 3550207 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 14 0 11 1 0 0 0 0 0 0 0 0 0 0 X 56 56 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 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 2.00 X 0 0 0 JILLIAN MERNS DIRECTOR 2.00 X 0 0 0 LOREN GREENSPON DIRECTOR 2.00 X 0 0 0 JOANNA SLEVIN DIRECTOR 2.00 X 0 0 0 JOYCE PERNIN DIRECTOR 2.00 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 2.00 X 0 0 0 MICHAEL RITTER DIRECTOR 2.00 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 ROBERT KARATZ DIRECTOR (FORMER) 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 2.00 X X 0 0 0 THOMAS S BERNSTEIN INTERIM PRESIDENT 2.00 X X 0 0 0 ALEX KULLMAN DIRECTOR 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 TREASURER 2.00 X X 0 0 0 MAURY SLEVIN DIRECTOR 2.00 X 0 0 0 RABBI DAVID STEINHARDT DIRECTOR 2.00 X 0 0 0 BRUCE APPEL CHIEF FINANCIAL OFFICER 40.00 X 125800 0 29928 JACQUELINE S GLODSTEIN V.P. GLOBAL DEVELOPMENT 40.00 X 257200 0 51029 YONI YAIR SOUTHEAST DEV DIRECTOR 40.00 X 151800 0 8199 534800 0 89156 3 0 1 0 0 4422252 239687 4422252 324097 324097 459904 34913 424991 424991 424991 5171340 0 0 749088 3250501 3250501 463957 82284 109039 272634 526500 87467 122847 316186 50748 11695 12333 26720 85308 19660 20732 44916 37920 8739 9215 19966 42000 42000 22481 2912 19569 12529 12529 10855 2470 8385 43812 12671 8625 22516 77845 34527 11508 31810 78788 17984 10776 50028 43158 14364 14363 14431 68089 59351 8738 3455 1152 1152 1151 16457 5486 5486 5485 EXHIBITIONS & EVENTS 225425 225425 PRINTING 41134 135 40999 POSTAGE 19824 51 5836 13937 TELEPHONE 16056 714 368 14974 15545 2357 13188 5152387 3550207 458162 1144018 2021 1592389 1465906 3729610 3607714 31546 0 23630 32723 25824 11924 116321 89870 5684 26451 9204280 9993079 7988403 7704294 526197 572156 23129584 23414247 151773 99908 389000 289277 2149885 2549885 719731 683208 3410389 3622278 X 7733302 6544920 4204625 5222445 7781268 8024604 19719195 19791969 23129584 23414247 X 18953 160047 -41272 -56664 -8290 X X 0 1 X 1 0 X 2776927 2781563 4759739 5713450 4422252 20453931 2776927 2781563 4759739 5713450 4422252 20453931 1096364 19357567 570032 469178 437185 314389 324097 2114881 22568812 0.85770 0.81370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17773276 300000 787516 433753 18427039 16987746 650000 1827795 1692265 17773276 18731431 112125 1318427 3110131 64106 16987746 21927213 1098719 -1215139 3012101 67261 18731431 21262110 204454 2047266 1533039 53578 21927213 0.56400 0.43600 0 0 116321 89870 26451 26451 STATE OF ISRAEL BONDS 6597000 F ALTERNATIVE INVESTMENTS 1107294 F 7704294 CHARITABLE GIFT ANNUITY PAYABLE 683208 683208 X 5377064 160047 45677 205724 5171340 0 5171340 5165082 53967 53967 5111115 41272 41272 5152387 PART X, LINE 2: THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2014 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. THE FOUNDATION IS NO LONGER SUBJECT TO FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS ENDED BEFORE DECEMBER 31, 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST ARRANGEMENTS -18,847. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 64,524. PART XII, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR BAD DEBT 53,967. 0 ISRAEL 0 0 PROGRAM SERVICES SOCIAL SERVICES USING TENNIS AS THE MEDIUM 3250501 0 0 0 0 0 0 3250501 0 3250501 ISRAEL SOCIAL SERVICES USING TENNIS AS THE MEDIUM 3250501 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 125800 0 0 0 0 0 0 0 29928 0 155728 0 0 0 JACQUELINE S GLODSTEIN V.P. GLOBAL DEVELOPMENT 247200 0 10000 0 0 0 0 0 51029 0 308229 0 0 0 YONI YAIR SOUTHEAST DEV DIRECTOR 144300 0 7500 0 0 0 0 0 8199 0 159999 0 0 0 X 23 239687 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 -18,847. CHANGE IN CASH SURRENDER VALUE OF INSURANCE 64,524. PROVISION FOR BAD DEBT -53,967. 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.