2024-05-13T14:30:00-05:00 2023-06-30 FORVIS LLP 1155 Avenue of the Americas 1200 New York NY 10036 990 2022-07-01 271119965 THE FUND FOR BRIC INC % ERUM JAFFER FUND 7186835600 647 FULTON STREET BROOKLYN NY 11217 WES JACKSON PRESIDENT 7186835600 2024-05-10 true Wes Jackson 999009999 Aaron Shapiro P01333816 2128674000 2024-05-15 2 2022 2023-04-26 12:10:37Z WES JACKSON 647 FULTON STREET BROOKLYN NY 11217 403733 false X N/A X 2009 NY TO HOLD AND INVEST FUNDS TO BE USED FOR THE PROJECTS OF BRIC ARTS MEDIA BKLYN, INC. 5 4 0 4 0 0 0 0 0 146438 117621 0 6000 146438 123621 1000000 0 0 0 0 0 0 0 0 103062 21240 1103062 21240 -956624 102381 2333312 2173736 360276 21242 1973036 2152494 TO PROVIDE SUPPORT FOR THE BENEFIT OF BRIC ARTS MEDIA BKLYN, INC. false false 0 0 0 TO HOLD AND INVEST FUNDS TO BE USED FOR THE PROJECTS OF BRIC ARTS MEDIA BKLYN, INC. 0 true false false false false false false false false false false false false false true false true true false false false false false false false false false false false false false false false false false false false false false false false false false true false false false true 1 0 0 true false false false false false false false false false false false false X 5 4 false true false false true true true true false false false true true true true true true false false false NY X ERUM JAFFER 7186835600 BRIC - 647 FULTON STREET BROOKLYN NY 11217 WESLEY JACKSON PRESIDENT 0.5 40.5 X X 0 143841 0 MICHAEL LIBURD CHAIR 0.5 1.5 X X 0 0 0 DANIEL WIENER SECRETARY/TREASURER 0.5 0.0 X X 0 0 0 ROBERT CHINA BOARD MEMBER 0.5 0.0 X 0 0 0 DESIREE DAVIS BOARD MEMBER 0.5 0.0 X 0 0 0 0 143841 0 0 false false false 0 0 0 47459 47459 0 0 0 0 0 350274 280112 70162 70162 70162 0 0 0 0 0 0 0 0 0 MISCELLANEOUS 900099 6000 6000 6000 123621 123621 0 0 0 0 0 0 0 0 0 0 16490 16490 0 4500 4500 0 0 0 0 0 250 250 0 0 0 0 0 0 0 0 0 0 21240 0 21240 0 0 0 0 0 0 0 4000 0 0 0 0 0 0 0 0 0 0 0 0 0 2329312 2173736 0 0 0 0 0 0 0 0 2333312 2173736 10000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 350276 21242 360276 21242 X 1973036 2152494 0 0 1973036 2152494 2333312 2173736 102381 77077 X false true X true false X 140350 84986 135025 0 0 360361 0 0 140350 84986 135025 0 0 360361 191565 168796 60113 61972 57720 62451 47459 289715 0 45 6000 6045 656121 0.25726 0.29760 X Schedule A, Part II, Section C, Line 17a The organization relies on investment income from its large investment portfolio. The public support percentage is expected to increase above 33% for fiscal year 2023 after recognizing no contribution revenue for fiscal year 2022. 0 DUE TO RELATED ENTITY 21242 21242 200698 77077 77077 123621 123621 21240 21240 21240 FORM 990, PART VI, SECTION A, LINE 3 THE FUND FOR BRIC HAS AN ADMINISTRATIVE SERVICES AGREEMENT WITH BRIC ARTS MEDIA BKLYN, INC. THE FUND PAYS FEES IN EXCHANGE FOR CERTAIN SERVICES INCLUDING ADMINISTRATIVE SERVICES, FINANCIAL SERVICES, BOARD SERVICES AND DONOR RELATIONS SERVICES. FORM 990, PART VI, SECTION A, LINE 6 BRIC ARTS MEDIA BKLYN, INC. IS THE SOLE MEMBER OF THE FUND FOR BRIC INC. FORM 990, PART VI, SECTION A, LINE 7A BRIC ARTS MEDIA BKLYN, INC. (BRIC) IS THE SOLE MEMBER OF THE FUND FOR BRIC INC. THE PRESIDENT AND CHAIR OF BRIC ARE EX-OFFICIO MEMBERS (WITH VOTING RIGHTS) OF THE BOARD OF DIRECTORS OF THE FUND FOR BRIC, INC. THE BRIC BOARD OF DIRECTORS ELECTS THE REMAINING BOARD MEMBERS OF THE FUND FOR BRIC, INC. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL OF THE SOLE MEMBER, BRIC ARTS MEDIA BKLYN, INC. FORM 990, PART VI, SECTION A, LINE 8B THE FUND FOR BRIC, INC. HAS NO COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 WAS REVIEWED IN DETAIL BY BRIC MANAGEMENT AND THE BOARD AUDIT COMMITTEE. SUGGESTIONS BY BOARD MEMBERS WERE REVIEWED BY BRIC MANAGEMENT, AND WITH THE INDEPENDENT AUDITOR IF RELEVANT, AND THE DOCUMENT WAS FINALIZED AND SUBMITTED. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND OFFICERS COMPLETE A CONFLICT OF INTEREST STATEMENT PRIOR TO THEIR APPOINTMENT AND ANNUALLY THEREAFTER. THE STATEMENT IDENTIFIES ANY RELATED PARTY TRANSACTIONS, WHICH ARE DEFINED TO BE A CONFLICT OF INTEREST UNDER THE LAW. THE BOARD OF DIRECTORS OF BRIC (AS SOLE MEMBER) CONSIDERS THESE STATEMENTS BEFORE VOTING ON MEMBERSHIP, TO DETERMINE IF CANDIDATES CAN BE EXPECTED TO HAVE FREQUENT RELATED PARTY TRANSACTIONS. THE BOARD OF DIRECTORS OF THE FUND FOR BRIC REVIEWS THE ANNUAL STATEMENTS AND ANY POTENTIAL CONCERNS THAT ARISE. DIRECTORS, OFFICERS AND KEY EMPLOYEES MUST PROMPTLY DISCLOSE ANY RELATED PARTY TRANSACTION, WITH ALL MATERIAL FACTS TO THE BOARD OF THE FUND FOR BRIC. THE DIRECTOR, OFFICER OR KEY EMPLOYEE INVOLVED IN THE TRANSACTION MAY PROVIDE INFORMATION PRIOR TO DELIBERATION, BUT MAY NOT BE PRESENT DURING DELIBERATION BY THE BOARD. RELATED PARTY TRANSACTIONS ARE NOT NECESSARILY PROHIBITED. THE BOARD MUST DETERMINE IF THE TRANSACTION IS FAIR, REASONABLE AND IN THE BEST INTEREST OF THE ORGANIZATION, AND MUST CONSIDER ALTERNATIVE TRANSACTIONS IF THE RELATED PARTY HAS A SUBSTANTIAL INTEREST. THE BOARD MAKES A DECISION BY MAJORITY VOTE OF INDEPENDENT MEMBERS. ALL ACTIONS REGARDING RELATED PARTY TRANSACTIONS ARE RECORDED CONTEMPORANEOUSLY IN MINUTES OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. BRIC ARTS MEDIA BKLYN INC 647 FULTON STREET BROOKLYN NY 11217 112547268 ARTS & MEDIA NY 501(C)(3) Line 7 NA false THE FUND FOR BRIC COMMUNITY MEDIA 647 FULTON STREET BROOKLYN NY 11217 271120036 SUPPORT NY 501(C)(3) Line 12 BRIC ARTS false false false false false false false false false false false false false true true false true false false false