Nonprofit · EIN 47-2662220
IDC FOUNDATION INC
Tax-exempt · CENTERPORT, NY 11721
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990-PF | $3,056,194 | $2,941,193 | $115,001 | $31,867,632 | $1,211,524 | $30,656,108 |
| June 30, 2024 | 990-PF | $2,261,826 | $788,061 | $1,473,765 | $30,096,832 | $65,523 | $30,031,309 |
Financial details: 990-PF for the year ended June 30, 2025
Revenue
- Dividends
- $815,415
- Net gain from sales of assets
- $2,240,779
Expenses
- Grants and similar amounts paid
- $2,600,060
- Disbursements for charitable purposes
- $1,525,604
- Excise tax on investment income
- $39,645
Balance sheet and other
- Total assets, start of year
- $30,096,831
- Total assets, end of year
- $31,867,632
- Total liabilities, end of year
- $1,211,524
- Net assets, end of year
- $30,656,108
- Fair market value of assets
- $31,867,632
- Qualifying distributions
- $1,525,604
- Net investment income
- $3,056,194
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Raymond Savino c/o DeMatteis 820 Elmont Rd, Elmont, NY 11003 | President/Treas | 0 | $0 |
| Frank Fortino 1 Priscilla lane, Westfield, NJ 07090 | VP/Secretary | 0 | $0 |
| Elizabeth Battista 375 South End Avenue APT 10E, New York, NY 10280 | Director | 0 | $0 |
| Carol Loewenson 101 Central Park West Apt 11C, New York, NY 10023 | Director | 0 | $0 |
990-PF for the year ended June 30, 2024: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Raymond Savino c/o DeMatteis 820 Elmont Rd, Elmont, NY 11003 | President/Treas | 0 | $0 |
| Frank Fortino 1 Priscilla lane, Westfield, NJ 07090 | VP/Secretary | 0 | $0 |
| Elizabeth Battista 375 South End Avenue APT 10E, New York, NY 10280 | Director | 0 | $0 |
| Carol Loewenson 101 Central Park West Apt 11C, New York, NY 10023 | Director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 277 JACKSON CRES, CENTERPORT, NY 11721-1054
- In care of
- % ELIZABETH BATTISTA
- Mailing address (990-N for 2015)
- PO Box 25196, Brooklyn NY 11202
- Principal officer (990-N for 2015)
- raymond savino, 820 elmont road, elmont NY 11003
- Signed the 990-PF
- Raymond Savino, President/Treas
- Return prepared by
- DAmbrozioNewman & Co LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990-PF on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990-PF on file |
IRS record
- EIN
- 47-2662220
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2015
- Accounting year ends
- June
- Files
- Form 990-PF
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $31,867,632
- Income (IRS master file)
- $14,134,711
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | June 2025 | – | – | – | IRS |
| 990-PF | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $1,166,011 | $2,039,817 | $27,823,166 | IRS |
| 990 | June 2022 | $1,892,547 | $1,449,551 | $27,063,530 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
| 990-N for 2015 Officer: raymond savino | June 30, 2016 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about IDC FOUNDATION INC
- What is the EIN of IDC FOUNDATION INC?
- The employer identification number (EIN) of IDC FOUNDATION INC is 47-2662220.
- Is IDC FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to IDC FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does IDC FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of IDC FOUNDATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IDC FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended June 2025.
- Who is the principal officer of IDC FOUNDATION INC?
- The 990-N for 2015 names raymond savino.
- Who are the officers and directors of IDC FOUNDATION INC?
- The 990-PF for the year ended June 30, 2025 lists 4 people; 0 received compensation from the organization.
- How much revenue does IDC FOUNDATION INC have?
- On its 990-PF for the year ended June 30, 2025 it reported revenue of $3,056,194, expenses of $2,941,193 and total assets of $31,867,632 at year end.
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