Overview
What is Temple Kol Ami Emanu-El Foundation Inc?
Temple Kol Ami Emanu-El Foundation Inc is a charitable organization, established as a result of the merger between Temple Emanu-El of Greater Fort Lauderdale and Temple Kol Ami. Originally, Temple Emanu-El donated its real estate property to establish the foundation's corpus, with the intention of selling it and generating funds for an endowment. Following the merger, the surviving entity, Temple Kol Ami Emanu-El, Inc., took over. The property was sold for $4.2 million in 2005, generating $3.5 million after expenses. A portion of the proceeds was donated to the beneficiary organization, while the remaining funds were invested to create an endowment with the goal of generating income for further support. In 2012, the foundation made a loan to Temple Kol Ami Emanu-El, Inc., and in 2021, this loan was fully repaid. The foundation's primary mission is to create and maintain an endowment fund for the sole benefit of its 501(c)(3) beneficiary organization, Temple Kol Ami Emanu-El Inc.
Is Temple Kol Ami Emanu-El Foundation Inc legitimate?
Temple Kol Ami Emanu-El Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Temple Kol Ami Emanu-El Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Temple Kol Ami Emanu-El Foundation Inc?
Temple Kol Ami Emanu-El Foundation Inc's mission is centered around establishing and managing an endowment fund for the sole benefit of its associated 501(c)(3) organization, Temple Kol Ami Emanu-El Inc. The purpose of the foundation is to sell a donated property, utilize the proceeds to create the endowment, and generate income to support the temple's activities. Historically, a portion of the funds were donated to the beneficiary organization, and a loan was also extended to it. The foundation's primary objective is to ensure the financial stability and growth of its beneficiary organization.
Who is the CEO of Temple Kol Ami Emanu-El Foundation Inc?
Dr Stanley Goodman is the Director of Temple Kol Ami Emanu-El Foundation Inc.
What is the revenue of Temple Kol Ami Emanu-El Foundation Inc?
Temple Kol Ami Emanu-El Foundation Inc's revenue in 2023 was $44,874.
Who are the executives of Temple Kol Ami Emanu-El Foundation Inc and what are their salaries?
Here are 3 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for Temple Kol Ami Emanu-El Foundation Inc?
Temple Kol Ami Emanu-El Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Temple Kol Ami Emanu-El Foundation Inc
Temple Kol Ami Emanu-El Foundation Inc's mission is centered around establishing and maintaining an endowment fund for the sole benefit of its affiliated organization, Temple Kol Ami Emanu-El Inc. This foundation was established as a result of the merger between Temple Emanu-El of Greater Fort Lauderdale and Temple Kol Ami, with the former donating its property for the creation of this endowment. Upon the sale of the property in 2005, the foundation donated a portion of the proceeds to the beneficiary organization, while the remaining funds were invested to generate income and support the temple's activities. Furthermore, in 2012, the foundation extended a loan to Temple Kol Ami Emanu-El, which was fully repaid in 2021. In essence, Temple Kol Ami Emanu-El Foundation Inc's mission is to support its affiliated organization through the management of its endowment funds and occasional financial aid.
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Impact
October, 2024
Temple Kol Ami Emanu-El Foundation Inc. plays a significant role in ensuring the financial stability and sustainability of Temple Kol Ami Emanu-El Inc. The foundation was established following the merger of two congregations, Temple Emanu-El of Greater Fort Lauderdale and Temple Kol Ami, highlighting a commitment to continuity and growth within the community.
The foundation's primary impact lies in the creation and management of an endowment fund, driven by the sale of donated real property valued at $4.2 million. This strategic decision has yielded substantial financial resources—netting over $3.5 million—which were subsequently allocated to support the temple’s ongoing initiatives. By donating $775,199 to the temple immediately after the sale, the foundation ensured that the congregation received immediate financial support.
A further key impact of the foundation is its commitment to long-term investment. The remaining balance of $2.7 million from the sale has been invested with the aim of generating sufficient income to support the temple over time. This approach not only reinforces the temple's financial foundation but also aligns with its mission to serve the community sustainably.
Moreover, the foundation's provision of a substantial loan of nearly $2 million to Temple Kol Ami Emanu-El demonstrates its dedication to directly addressing the needs of the congregation. The successful repayment of this loan in March 2021 highlights both the viability of the temple’s operations and the effective financial planning facilitated by the foundation.
Overall, Temple Kol Ami Emanu-El Foundation Inc. is instrumental in fostering a robust financial environment for Temple Kol Ami Emanu-El Inc., ensuring its ability to serve its community and maintain its mission over the long term.
This information is meant to be a general summary of Temple Kol Ami Emanu-El Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $44,874
- Gross Receipts: $44,874
Assets and Liabilities:
- Total Assets: $2,408,114
- Total Liabilities: $0
- Net Assets: $2,408,114
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Organization Details
Founding Year
2004
Phone
(954) 472-1988Principal Officer
Dr Stanley Goodman
Main Address
8200 Peters Road, Plantation, FL, 33324
NTEE Category
Code: T11 - Philanthropy
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