Whizin Foundation in Sherman Oaks, California (CA)

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Whizin Foundation
Employer Identification Number (EIN)954568176
Name of OrganizationWhizin Foundation
In Care of NameBruce F Whizin
Address4458 Matilija Ave, Sherman Oaks, CA 91423
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date03/1996
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2008
Assets$1,000,000 to $4,999,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$3,847,934
Amount of Income$148,290
Form 990 Revenue Amount$19,547
National Taxonomy of Exempt Entities (NTEE)Religion-Related, Spiritual Development: Single Organization Support


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Amount of income in 2008: $148,290
This organization: 

 $148,290
Other organizations performing similar types of work: 

 $910,803

Assets in 2008: $3,847,934
This organization: 

 $3,847,934
Other organizations performing similar types of work: 

 $2,529,447

Expenses in 2007: $33,356,058
This organization: 

 $33,356,058
Other organizations performing similar types of work: 

 $223,854

Income to expenses ratio in 2007: 0.0
Whizin Foundation: 

 0.0
Other organizations performing similar types of work: 

 3.9

Expenses allocated to program services in 2007: 98.6%
Whizin Foundation: 

 98.6%
Other organizations performing similar types of work: 

 85.8%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$1,068,781$864,563$648,662$1,332,694$1,511,341$1,029,389$19,363,038$483,323
Contributions, gifts, grants, and similar amounts received$282,415$0$6,713$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$282,415$0$6,713$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$50,015$68,185$79,469$77,113$51,951$28,575$54,495$37,834
Dividends and interest from securities$330,789$238,353$197,371$219,302$224,124$179,222$250,745$404,972
Net rental income or (loss)$549,453$695,919$818,972$981,926$1,081,500$988,190$1,235,577$-37,790
Gross rents$1,147,230$1,193,898$1,366,467$1,475,966$1,634,419$1,710,639$1,733,836$27,073
Less: rental expenses$597,777$497,979$547,495$494,040$552,919$722,449$498,259$64,863
Other investment income$-64,322$-85,425$-67,926$5,580$-22,350$-203$-43,307$-31,164
Gain or (loss) from sales of assets other than inventory$-79,569$-52,469$-385,937$48,773$176,116$-166,395$17,865,528$109,471
Gross amount from sales of assets other than inventory$1,031,082$3,394,252$3,342,148$5,189,876$7,265,120$4,884,692$29,514,234$23,063,572
Less: cost or other basis and sales expenses$1,110,651$3,446,721$3,728,085$5,141,103$7,089,004$5,051,087$11,648,706$22,954,101
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Total expenses$874,057$953,582$960,737$1,072,190$1,084,044$1,094,214$1,086,361$33,356,058
Program services$599,903$639,018$686,955$746,843$763,424$739,379$726,359$32,880,076
Management and general$274,154$314,564$273,782$325,347$320,620$354,835$360,002$475,982
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$18,078,388$17,939,078$16,915,459$17,357,098$17,304,504$17,451,853$36,934,011$4,125,780
Excess or (deficit) for the year$194,724$-89,019$-312,075$260,504$427,297$-64,825$18,276,677$-32,872,735
Net assets or fund balances at beginning of year$17,941,420$18,078,388$17,939,078$16,915,459$17,357,098$17,304,504$17,451,853$36,934,011
Other changes in net assets or fund balances$-57,756$-50,291$-711,544$181,135$-479,891$212,174$1,205,481$64,504
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$33,356,058$32,880,076$475,982$0
Grants paid from donor advised funds$0
Other grants and allocations$32,880,076
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$42,113$0$42,113$0
Legal fees$2,573$0$2,573$0
Supplies$0$0$0$0
Telephone$2,525$0$2,525$0
Postage and shipping$0$0$0$0
Occupancy$161,548$0$161,548$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$961$0$961$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$115$0$115$0
Depreciation, depletion, etc.$3,331$0$3,331$0
Other expenses not covered above$262,816$0$262,816$0
Balance Sheets
20002001200220032004200520062007
Total assets$18,573,823$18,466,602$17,372,533$17,855,949$17,519,815$17,612,381$37,024,288$4,153,857
Cash - non-interest-bearing$23,901$46,690$46,582$15,552$110,338$5,035$31,977$6,262
Savings and temporary cash investments$108,045$295,193$250,697$217,410$209,112$211,197$522,129$180,760
Accounts receivable less allowance for doubtful accounts$643$643$1,443$643$643$643$643$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$523,120$417,551$311,850$204,998$100,000$100,000$100,000$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$800$800$800$800$800
Investments - publicly-traded securities$5,706,177$125,489
Investments - other securities$9,188,118$9,044,884$8,021,054$8,717,061$8,238,098$8,264,992$3,144,302$3,112,738
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$26,109,531$250,000
Land, buildings, and equipment less accumulated depreciation$8,729,996$8,661,641$8,740,907$8,699,485$8,635,324$8,592,402$517,454$477,808
Other assets, including program-related investments$0$0$0$0$225,500$437,312$891,275$0
Total liabilities$495,435$527,524$457,074$498,851$215,311$160,528$90,277$28,077
Accounts payable and accrued expenses$25,367$36,272$47,178$25,852$54,405$50,116$88,841$26,340
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$136,319$136,319$137,594$135,378$135,378$68,488$1,436$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$333,749$354,933$272,302$337,621$25,528$41,924$0$1,737
Total liabilities and net assets/fund balances$18,573,823$18,466,602$17,372,533$17,855,949$17,519,815$17,612,381$37,024,288$4,153,857
Total net assets or fund balances$18,078,388$17,939,078$16,915,459$17,357,098$17,304,504$17,451,853$36,934,011$4,125,780
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$0$0$0$0$1,511,341$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$2,630,792$0$0$0
Other expenses$0$0$0$0$565,588$0$0$0
Net unrealized gains on investments$0$0$0$0$565,588$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$-553,863$0$0$0
Investment expenses$0$0$0$0$21,406$0$0$0
Other$0$0$0$0$-575,269$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$0$0$0$0$1,084,044$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$3,005,616$0$0$0
Other revenue$0$0$0$0$1,490,059$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$1,425,369$0$0$0
Other$0$0$0$0$64,690$0$0$0
Other expenses$0$0$0$0$-431,513$0$0$0
Investment expenses$0$0$0$0$21,406$0$0$0
Other$0$0$0$0$-452,919$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings5
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$-31,164$514,487$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$37,834$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$404,972$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$-37,790$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment incomeOther activities related to real estate$-31,16400$0$0
Gain or (loss) from sales of assets other than inventory000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$109,471$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organization4
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
951684064American Jewish UniversityYes$32,446,292
956111928Jewish Community Foud Of The Jewish Fed Coun Of Greater L AOrganization that receives a substantial part of its support from a governmental unit or from the general publicYes$0
951843131Camp Ramah In California Inc, Rabi Daniel GrabberOrganization that receives a substantial part of its support from a governmental unit or from the general publicYes$14,433
131663324Rabbinical Assembly Of AmericaNo$0
130434195American Society For Technion- Israel Institute Of Technology IncYes$100,040
237366318Adat Ari ElOrganization that receives a substantial part of its support from a governmental unit or from the general publicYes$3,700
Total$32,564,465
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$-2,697$0$-2,697
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$-2,697$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$0
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$-2,697
Unrelated business taxable income before net operating loss deduction$-2,697
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-2,697
Specific deduction$0
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Number of organizations performing similar types of work
Alabama1
Arkansas1
Arizona1
California8
Connecticut2
Florida5
Georgia1
Iowa1
Illinois9
Indiana3
Louisiana1
Massachusetts1
Michigan3
Minnesota2
Missouri1
North Carolina5
Nebraska2
New Jersey3
New Mexico1
New York11
Ohio7
Oklahoma2
Pennsylvania12
Rhode Island1
South Carolina2
Tennessee1
Texas7
Virginia2
Washington1
Wisconsin1
Wyoming1
Total99

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