2024-01-25T10:52:54-06:00 2023-03-31 161131146 BONADIO & CO LLP 100 CORPORATE PARKWAY SUITE 200 AMHERST NY 14226 990 2022-04-01 113450363 THE RIVER FUND NEW YORK INC RIVE 7184411125 89-11 LEFFERTS BLVD RICHMOND HILL NY 11418 DURGA DAS CEO 7184411125 2024-01-23 1 DURGA DAS 999009999 1 MARK PEREZ P02222157 7162506600 2024-01-23 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z DURGA DAS 89-11 LEFFERTS BLVD RICHMOND HILL NY 11418 8088179 0 X WWW.RIVER.FUND X 1998 NY THE MISSION OF THE RIVER FUND NEW YORK, INC. IS TO FEED AND EMPOWER THOSE WE SERVE TO MOVE BEYOND THE LINES OF POVERTY. THIS IS ACCOMPLISHED BY OPERATING POVERTY FRONTLINE CENTERS WHERE WE ADDRESS MATERIAL HARDSHIP WITH: (1) WEEKLY GROCERIES, (2) BENEFIT ACCESS, AND (3) SUPPORT EDUCATION PATHWAYS FROM CRADLE TO COLLEGE. 17 16 21 624 0 0 9184512 8040475 0 0 5048 -7534 -82628 -110735 9106932 7922206 6338836 6350831 0 0 917797 962864 0 0 86661 883276 851248 8139909 8164943 967023 -242737 4726214 4363639 163761 927035 4562453 3436604 X THE MISSION OF THE RIVER FUND NEW YORK, INC. IS TO FEED AND EMPOWER THOSE WE SERVE TO MOVE BEYOND THE LINES OF POVERTY. THIS IS ACCOMPLISHED BY OPERATING POVERTY FRONTLINE CENTERS WHERE WE ADDRESS MATERIAL HARDSHIP WITH: (1) WEEKLY GROCERIES, (2) BENEFIT ACCESS, AND (3) SUPPORT EDUCATION PATHWAYS FROM CRADLE TO COLLEGE. 0 0 6773192 6180134 THE RIVER FUND NEW YORK, INC. IS A COMMUNITY BASED ORGANIZATION DEDICATED TO THE TASK OF FIGHTING POVERTY AND REBUILDING HUMAN DIGNITY IN MULTIPLE NEW YORK CITY COMMUNITIES. THIS IS ACCOMPLISHED INITIALLY BY ENSURING THAT WE PROMPTLY ADDRESS THE CHALLENGE OF FOOD INSUFFICIENCY FOR EVERY HOUSEHOLD THAT COMES TO US FOR HELP. AS A RESULT OF OUR COMPREHENSIVE APPROACH TO NUTRITION GOING BEYOND EMERGENCY FOOD ASSISTANCE TO ADDRESS NUTRITION EDUCATION, INCOME SUPPORT, VITAMIN DISTRIBUTION, INFANT AND SENIOR SPECIFIC FOODS, PLUS A WIDE RANGE OF OTHER DIET RELATED EFFORTS WE HAVE BECOME ONE OF THE LEADING SUPPLIERS OF GROCERIES TO FAMILIES IN NEED LIVING IN A 100 ZIP CODE AREA OF NEW YORK CITY'S FIVE BOROUGHS. USING SOPHISTICATED, CUSTOMIZED DATABASE TECHNOLOGY AND OTHER SYSTEMS, WE ARE ABLE TO TRACK THE PROGRESS WE MAKE IN SUPPORTING THE FAMILIES AND INDIVIDUALS WHO BENEFIT FROM OUR PROGRAMS. IT IS IMPORTANT TO NOTE THAT MORE THAT 60% OF THE HOUSEHOLD HEADS IN OUR CLIENT POPULATION HAVE JOBS, BUT ARE COMPENSATED AT LEVELS THAT KEEP THEIR FAMILIES AT OR BELOW THE POVERTY LINE. TWENTY-FIVE PERCENT OF OUR BENEFICIARIES ARE SENIORS, HALF OF WHOM SUFFER FROM SERIOUS DEBILITATING CONDITIONS. OF OUR NON-SENIOR POPULATION, INCLUDING CHILDREN, SOME 22% ARE PHYSICALLY OR MENTALLY CHALLENGED. NEW YORK CITY'S POVERTY-COMBAT ARENA AS A LEADING ORGANIZATION THAT ACTIVELY PIONEERS INNOVATIVE APPROACHES FOR TACKLING HUNGER, HOMELESSNESS AND POVERTY. 323047 10936 ALTHOUGH THERE ARE OVER 100 DIFFERENT BENEFITS AND SERVICES FROM BOTH PUBLIC AND PRIVATE SOURCES THAT ARE AVAILABLE TO PEOPLE IN POVERTY, MOST ELIGIBLE HOUSEHOLDS NEVER ACCESS THE PROGRAMS; FOR THOSE WHO DO, ENROLLMENT IS CHALLENGING. EACH PROGRAM REQUIRES PRE-SCREENING, QUALIFICATION ASSESSMENT, LENGTHY APPLICATIONS, DOCUMENT VERIFICATION, AND FINALLY, IF APPROVED, PERIODIC RE-CERTIFICATION. THIS IS TEDIOUS, AND INVARIABLY BURDENSOME, CYCLE PROMOTES POVERTY BECAUSE HOUSEHOLD HEADS SPEND NUMEROUS DAYS ON EACH REGISTRATION INSTEAD OF JOB HUNTING. THE RIVER FUND NEW YORK, INC. OFFERS ONE STOP PRE-SCREENING, PRE-QUALIFICATION, ENROLLMENT AND SUBSEQUENT RE-CERTIFICATIONS FOR ALL OF THESE BENEFITS AND SERVICES-THUS SAVING CLIENTS THE EXPENSE AND FRUSTRATION OF VISITING DOZENS OF OFFICES ALL OVER THE CITY, SOMETIMES JUST TO GET BASIC INFORMATION ABOUT A BENEFIT. OUR EFFORTS IN THIS REGARD INCLUDE FREE TAX-FILING SERVICES WHICH HAVE ACTUALLY REPATRIATED THOUSANDS OF TAX DOLLARS BACK INTO THE COMMUNITY THAT MAY HAVE OTHERWISE GONE UNCLAIMED. THE RIVER FUND NEW YORK, INC. HAS BECOME THE PRIMARY PARTNER IN QUEENS FOR SEVERAL COMMUNITY PROGRAMS SPONSORED BY THE FOOD BANK FOR NEW YORK CITY, THE NYC HUMAN RESOURCES ADMINISTRATION, THE NYC OFFICE OF FINANCIAL EMPOWERMENT, AND OTHER FEDERAL, STATE AND CITY ENTITIES THAT NEED STRONG, COMMUNITY BASED ORGANIZATIONS TO ADVANCE IMPORTANT POVERTY REDUCTION OBJECTIVES IN OUR NEIGHBORHOODS. THIS IS ACCOMPLISHED WITH IN HOUSE FOOD STAMP ENROLLMENT SERVICES DIRECTLY INPUT INTO GOVERNMENT DATA SYSTEMS, LEGAL AID AND ADVOCACY AMONG OUR MANY OTHER PROGRAMS. 198370 84820 BUILDING OUR CAPACITY AS A ONE-STOP-SHOP IN THE POVERTY COMBAT ARENA, OVER TIME, WE GRADUALLY ASSEMBLED OUR VARIOUS EFFORTS TO SUPPORT CHILDREN INTO A COORDINATED INITIATIVE UNDER THE HEADING "CRADLE TO COLLEGE". IN 2013, WE EVEN LAUNCHED AMERICA'S VERY FIRST CHILD POVERTY AWARENESS DAY AND WE RECIEVED GOVERNMENT RECOGNITION FOR THIS PROACTIVEEFFORT. HELD EACH YEAR ON THE SECOND SUNDAY IN AUGUST, THIS EVENT FOCUSES ATTENTION ON THE BURGEONING MASS OF NEW YORK CITY CHILDREN IN POVERTY WHILE GIVING THEM AND THEIR FAMILIES A DAY OF FUN AND ENTERTAINMENT, ALONG WITH THE NECESSARY EQUIPMENT TO START THE NEW SCHOOL YEAR IN SEPTEMBER. THE MANY EFFORTS THAT ARE COMBINED INTO OURCRADLE TO COLLEGE INITIATIVE CULMINATE IN OUR FOUR-YEAR SCHOLARSHIP PROGRAM, WHICH (I) CLOSES THE GAP, EACH YEAR, BETWEEN GOVERNMENT AID AND THE TRUE COST OF ATTENDING COLLEGE, (II) PROVIDES STUDENTS WITH A MONTHLY METRO CARD, SO THEY CAN ACTUALLY MAKE IT TO CLASS AND THEIR PART-TIME JOBS EVERYDAY, (III) EQUIPS THEM WITH A BRAND NEW COMMERCIAL-GRADE LAPTOP, (IV) COVERS THE COST OF BOOKS, (V) PROVIDES INDEPENDENT MOBILE WIFI ACCESS, (VI) HELPS STUDENTS PAY FOR LUNCH ATCOLLEGE, AND (VII) SUPPLIES CONSISTENTLY, UPON RELEASE, THE FULL MOST UP-TO-DATE SUITE OF THE LEADING OFFICE-PRODUCTIVITY SOFTWARE ALL THE WAY THROUGH GRADUATION. THE RIVER FUND BELIEVES THAT "BREAKING THE CYCLE OF POVERTY" CAN BE EFFECTIVELY ACCOMPLISHED BY PLACING THE CHILDREN OF HOUSEHOLDS IN POVERTY ON A PATHWAY TO SUCCESS SO THAT, UPONBECOMING PRODUCTIVE MEMBERS OF SOCIETY, THEY CAN PULL THEIR FAMILIES AND NEIGHBORHOODS FORWARD. 429225 74941 429225 74941 7723834 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 1 3 0 1 21 1 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 1 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X DURGAS DAS 7184411125 89-11 LEFFERTS BLVD RICHMOND HILL NY 11418 ALYSSA FANELLI VARADHAN BOARD MEMBER 1.00 X 0 0 0 ELIZABETH M STEEL BOARD MEMBER 1.00 X 0 0 0 TIMOTHY REILY BOARD MEMBER 1.00 X 0 0 0 MICHAEL HUBBE BOARD MEMBER 1.00 X 0 0 0 HAROLD FORD JR BOARD MEMBER 1.00 X 0 0 0 DANIELLE BERNSTEIN BOARD MEMBER 1.00 X 0 0 0 RICCARDO BENEDETTI BOARD MEMBER 1.00 X 0 0 0 CLAYTON ORRIGO BOARD MEMBER 1.00 X 0 0 0 ADAM DONEGER BOARD MEMBER 1.00 X 0 0 0 JUSTIN GOLDEN BOARD MEMBER 1.00 X 0 0 0 STEVEN PETERSEN BOARD MEMBER 1.00 X 0 0 0 PATRICK L DALY BOARD MEMBER 1.00 X 0 0 0 DOUGLAS M WURTZ BOARD MEMBER 1.00 X 0 0 0 R SPENCER POTTS CAPITAL CHAIR 1.00 X 0 0 0 MICHAEL TIEDEMANN CHAIRMAN 1.00 X 0 0 0 MELISSA WOOD-TEPPERBERG BOARD MEMBER 1.00 X 0 0 0 SWAMI DURGA DAS CEO 60.00 2.00 X X 94750 0 24000 94750 0 24000 0 0 0 0 0 917047 7123428 5414598 8040475 -7534 -7534 0 917047 165973 -165973 -165973 MISCELLANEOUS 900099 55238 55238 55238 7922206 0 0 -118269 6350831 6350831 98903 56493 28287 14123 676357 653463 22855 39 21800 19384 1893 523 87641 61016 17342 9283 78163 72145 4779 1239 66177 66177 140542 140542 61301 61301 20176 13148 6875 153 90119 90119 159943 141291 18652 25890 25890 7168 7168 150421 133875 16546 60813 48651 12162 REPAIR AND MAINTENANCE 52165 52165 DUES AND FEES 12742 2449 10293 MISCELLANEOUS 3791 2914 877 8164943 7723834 354448 86661 1050079 949053 2393851 1915436 122502 36303 54640 1285010 1072373 367732 212637 151110 208473 100000 100000 504637 923400 4726214 4363639 87275 27673 872440 76486 26922 163761 927035 X 4273015 3195770 289438 240834 4562453 3436604 4726214 4363639 X -242737 -883112 X X 0 1 X 1 1 1 X 6023671 5556149 17429505 9184516 8040475 46234316 6023671 5556149 17429505 9184516 8040475 46234316 46234316 15495 993 4985 5048 -7534 18987 21199 100036 68634 55238 245107 46498410 0.99430 0.99500 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 623031 476430 146601 274490 234787 39703 387489 361156 26333 212637 DUE FROM S.I.O.F 923400 923400 917047 917047 136229 29744 917047 917047 136229 29744 165973 -165973 1 STUDENT GRANTS 82545 DIRECT SUPPORT 733722 FMV BENEFIT ENROLLMENT AID SERVICES DONATED GOODS 5534564 COST FOOD AND CLOTHES FOR THOSE IN NEED PART I, LINE 2: ALL GRANTS RELATED TO THIS ACTIVITY ARE MONITORED ON AN INDIVIDUAL LEVEL WITH RECEIPTS REQUIRED FOR ALL THIRD PARTY EXPENDITURES OTHER THAN TRANSPORTATION/STIPEND ALLOWANCES, WHICH ARE PROVIDED AND MONITORED ON A MONTHLY BASIS. ALL EXPENDITURES MUST BE APPROVED BY UPPER MANAGEMENT. FOODGATE INC ENTITY MORE THAN 35% OWNED BY OTTO STARZMANN, FORMER OFFICER DURING THE YEAR ENDED MARCH 31, 2023, MANAGEMENT DETECTED THAT PAYMENTS HAD BEEN MADE TO A CERTAIN VENDOR AND THE GOODS WERE NOT RECEIVED. WHEN THE PAYMENTS WERE MADE, MANAGEMENT WAS UNAWARE THAT THERE WERE ANY ISSUES WITH THE PAYMENTS AND BELIEVED THE PAYMENTS TO BE FOR A PROPER BUSINESS PURPOSE. IT LATER CAME TO MANAGEMENT'S ATTENTION THAT THE VENDOR HAD BEEN INCORPORATED BY A FORMER OFFICER AND DIRECTOR OF THE ORGANIZATION AND THAT THIS INDIVIDUAL OWNS 100% OF THE VENDOR. THE PAYMENTS HAD BEEN MADE FOR PRODUCTS FOR THE ORGANIZATION WHICH WOULD BE DISTRIBUTED TO THE LOCAL COMMUNITY IN FULFILLMENT OF ITS NON-PROFIT MISSION. MANAGEMENT SHARED THAT THEY HAD MADE EFFORTS TO REACH OUT TO THE INDIVIDUAL AS WELL AS THE VENDOR ABOUT THE PRODUCT THAT HAD NOT BEEN DELIVERED, BUT HAD NOT RECEIVED A RESPONSE. MANAGEMENT HAS BEEN IN CONTACT WITH LAW ENFORCEMENT, THEIR INSURANCE CARRIER, THEIR LEGAL REPRESENTATION AND THEIR GRANT FUNDER. IN TOTAL, THERE WERE FIVE PAYMENTS THAT OCCURRED FROM MAY 11, 2022 THROUGH OCTOBER 27, 2022 AND AMOUNTED TO $872,440. THE ORGANIZATION HAS REPORTED THIS MISAPPROPRIATION TO LAW ENFORCEMENT AND IS HOPEFUL LAW ENFORCEMENT CAN RECLAIM THE FUNDS. ALSO, A CIVIL SUIT MAY BE SOUGHT IF NEEDED. 0 218110 X 428446 FMV X 3 83685 FMV X 11 4004340 FMV X MISCELLANEOUS 11 690750 FMV 0 0 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS ABOVE REPRESENTS THE NUMBER OF DONORS OF NON-CASH ITEMS DURING THE YEAR. FORM 990, PART VI, SECTION A, LINE 5 DURING THE YEAR ENDED MARCH 31, 2023, A NUMBER OF PAYMENTS HAD BEEN MADE TO A SPECIFIC VENDOR ESTABLISHED BY A FORMER EMPLOYEE, WHICH TOTALED $872,440. IN EXCHANGE FOR THESE PAYMENTS, NO GOODS OR SERVICES HAVE BEEN PROVIDED TO THE ORGANIZATION. AS A RESULT, MANAGEMENT IS PURSUING LEGAL ACTION TO RECLAIM THE FUNDS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO SUBMISSION, THE FORM 990, ALONG WITH THE ANNUAL AUDIT REPORT, ARE PROVIDED AND REVIEWED BY AT LEAST TWO MEMBERS OF THE BOARD FOR ACCURACY AND COMPLETENESS. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, ALL MEMBERS OF THE BOARD AND SENIOR MANAGEMENT ARE REQUIRED TO SUBMIT A CONFLICT OF INTEREST STATEMENT DISCLOSING ANY CONFLICTS THEY MAY HAVE. MEMBERS OF THE BOARD AND SENIOR MANAGEMENT ARE REQUIRED TO LEAVE THE ROOM FOR DISCUSSION AND VOTE ON ANY TOPIC THEY HAVE A CONFLICT OF INTEREST WITH. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER IS DISCUSSED AMONGST THE BOARD OF DIRECTORS. THE BOARD CHAIR RESEARCHES COMPENSATION SURVEYS FROM COMPARABLE AGENCIES WITH COMPARABLE BUDGETS AND SERVICES. IN CONJUNCTION TO THIS, THE DECISION TO INCREASE COMPENSATION IS BASED ON THE FINANCIAL HEALTH OF THE AGENCY AND THE GROWTH THE AGENCY HAS EXPERIENCED OVER THE YEARS. THE CHIEF EXECUTIVE OFFICER'S COMPENSATION IS COMPRISED OF AN ANNUAL SALARY AND INDIVIDUAL HEALTH CARE. 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: LOSS ON DISPOSAL OF ASSET -10,672. LOSS DUE TO FOOD GATE -872,440. FORM 990, PART XII, LINE 2C: THE RIVER FUND NEW YORK, INC. HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. RIVER FUND SIOF 89-11 LEFFERTS BLVD RICHMOND HILL NY 11418 842223342 INVESTMENT FUND NY THE RIVER FUND NY INC C 46344 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 RIVER FUND SIOF D 923400 ACTUAL EXPENDITURE