| Form 990, Part I, Line 10 Investment Income |
Unrealized gain of $5,056,816 and unrealized loss of $16,282,763 in 2020 and 2019, respectively were incurred, but are not required to be included in this line. |
| Form 990, Part I, Line 8 CONTRIBUTIONS AND GRANTS |
THE DECREASE IN CONTRIBUTIONS AND GRANTS ARE MAINLY DUE TO A PARTIAL DISBURSEMENT OF A $16 MILLION NON-RECURRING ESTATE GIFT, TIME-RESTRICTED GIFTS, AND ENDOWMENT GIFTS RECEIVED FROM MAJOR DONORS TOTALED $45 MILLION IN 2019 WHICH DID NOT REPEAT TO THE SAME EXTENT IN 2020. THESE 2019 GIFTS WERE NOT AVAILABLE TO SUPPORT 2019 OPERATIONS BUT WILL BENEFIT AJC FOR MANY YEARS. ADDITIONALLY, DUE TO THE COVID-19 PANDEMIC IN 2020, AJC'S FUNDRAISING EFFORTS WERE HINDERED BY THE INABILITY TO HOLD IN-PERSON FUNDRAISING EVENTS. |
| Form 990, Part III, Line 3 Significant changes in program services |
Due to the Covid-19 pandemic, almost all of AJC's advocacy and educational efforts took place in a virtual environment. |
| Form 990, Part III, Line 4d Description of other program services |
(Expenses $ 3,221,020 including grants of $ 0)(Revenue $ 8,807) AJC'S OTHER 2020 PROGRAMMATIC ACTIVITIES INCLUDE: (1) INTERRELIGIOUS AND INTERGROUP RELATIONS: AJC BUILDS COALITIONS WITH LIKE-MINDED PARTNERS TO ADVANCE SHARED INTERESTS AND VALUES, AND TO FURTHER UNDERSTANDING. THE AGENCY FIRMLY BELIEVES THAT THE WELL-BEING OF THE JEWISH COMMUNITY IS LINKED TO THAT OF OTHER FAITH GROUPS IN THE UNITED STATES AND AROUND THE WORLD. WITH THIS GOAL IN MIND, AJC HAS CONVENED A MUSLIM-JEWISH ADVISORY COUNCIL, A BLACK-JEWISH CONGRESSIONAL COUNCIL, A COMMUNITY OF CONSCIENCE (COMPRISED BY DIVERSE RELIGIOUS, ETHNIC, AND OTHER GROUPS TO COMBAT RISING HATE CRIMES, DISCRIMINATION, RACISM, AND BIGOTRY), AND A LATINO-JEWISH LEADERSHIP COUNCIL, AMONG OTHER COALITION BUILDING INITIATIVES. (2) CONTEMPORARY JEWISH LIFE: AJC STRIVES TO STRENGTHEN JEWISH CONTINUITY AND TO ENRICH THE RELATIONSHIP OF JEWS IN THE DIASPORA WITH THE STATE OF ISRAEL, BRIDGING THE GROWING DIVIDE BETWEEN AMERICAN JEWS AND ISRAELI SOCIETY, ENHANCING INTRA-JEWISH RELATIONS, ENRICHING THE QUALITY AND MEANING OF LEADING A JEWISH LIFE, AND RAISING THE KNOWLEDGE LEVEL OF JEWS CONCERNING THE TREASURES OF JUDAIC HERITAGE. (3) YOUNG LEADERSHIP: FROM HIGH SCHOOL AND COLLEGE STUDENTS THROUGH YOUNG PROFESSIONALS, THE DEPARTMENT OF YOUNG LEADERSHIP STRIVES TO PROVIDE OPPORTUNITIES FOR YOUNG JEWS TO CONTRIBUTE TO GLOBAL JEWISH ADVOCACY, WHILE RECRUITING AND CULTIVATING THE RISING GENERATION OF AJC LEADERSHIP. |
| Form 990, Part VI, Line 6 Classes of members or stockholders |
AJC IS A MEMBERSHIP ORGANIZATION UNDER APPLICABLE NEW YORK NONPROFIT CORPORATION LAW, AND THE MEMBERS OF ITS BOARD OF GOVERNORS CONSTITUTES ITS CORPORATE MEMBERSHIP. |
| Form 990, Part VI, Line 7a Members or stockholders electing members of governing body |
SEE ABOVE. |
| Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders |
SEE ABOVE. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body |
THE RETURN WAS PREPARED INTERNALLY AND THEN REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY AJC'S STAFF. THE DRAFT WAS THEN REVIEWED BY AJC'S AUDIT COMMITTEE, AND SUBSEQUENTLY PROVIDED TO AJC'S EXECUTIVE COUNCIL PRIOR TO FILING WITH THE IRS. PURSUANT TO AJC'S BYLAWS, THE EXECUTIVE COUNCIL CONSTITUTES AJC'S BOARD OF DIRECTORS AS THAT TERM IS USED IN THE NEW YORK NOT-FOR-PROFIT CORPORATION LAW. |
| Form 990, Part VI, Line 12c Conflict of interest policy |
AJC HAS WRITTEN CONFLICT OF INTEREST POLICIES COVERING ALL MEMBERS OF THE EXECUTIVE COUNCIL, MEMBERS OF THE INVESTMENT COMMITTEE, OFFICERS, AND EMPLOYEES STIPULATING THAT NO INDIVIDUAL MAY PARTICIPATE IN A DISCUSSION OR DECISION ON ANY MATTER IN WHICH HE OR SHE HAS A MATERIAL FINANCIAL INTEREST, AND HE OR SHE MUST DISCLOSE ANY POTENTIAL CONFLICTS. ALL MEMBERS OF THE EXECUTIVE COUNCIL, OFFICERS, KEY EMPLOYEES WHO HAVE SIGNING AUTHORITY, AND OTHER EMPLOYEES ARE REQUIRED TO CERTIFY COMPLIANCE WITH THE APPROPRIATE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS AND TO INDICATE WHETHER THE ORGANIZATION DOES BUSINESS WITH AN ENTITY IN WHICH THEY HAVE A MATERIAL FINANCIAL INTEREST. RESTRICTIONS IMPOSED ON PERSONS WITH A CONFLICT INCLUDE REFRAINING FROM PARTICIPATING IN DELIBERATIONS AND DISCUSSIONS, AS WELL AS ANY DECISION, RELATING TO THE ALLEGED CONFLICT. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official |
IN 2020, AJC HIRED A COMPENSATION CONSULTANT WHO CONDUCTED A SALARY REVIEW OF CHIEF EXECUTIVE OFFICER COMPENSATION, REVIEWING FAIR MARKET COMPARABLE FOR POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE CHIEF EXECUTIVE OFFICER'S MULTI-YEAR CONTRACT WAS REVIEWED AND APPROVED BY AN INDEPENDENT COMPENSATION COMMITTEE AND SUBSEQUENTLY APPROVED BY THE EXECUTIVE COUNCIL. THE ORGANIZATION MAINTAINS RECORDS REGARDING THE COMPENSATION SETTING PROCESS. COMPENSATION OF OTHER KEY EMPLOYEES FOR THE PAST SEVERAL YEARS HAS BEEN TIED TO THE SALARY INCREASES NEGOTIATED WITH AJC'S LABOR UNIONS, EXCEPT FOR THOSE WHO HAVE RECEIVED PROMOTIONS AND/OR INCREASED RESPONSIBILITIES. ALL DETERMINATIONS OF COMPENSATION ARE CONTEMPORANEOUSLY DOCUMENTED IN WRITING. |
| Form 990, Part VI, Line 15b Process to establish compensation of other employees |
In 2020, salaries for senior managers and key employees were reviewed by the Executive Compensation Committee. AJC retained a professional compensation firm in 2019 and performed a complete a review of relevant salaries and adopted a multi-year plan for adjusting salaries of relevant senior management. The review from 2019 will be performed once again in 2020. ALL DETERMINATIONS OF COMPENSATION ARE CONTEMPORANEOUSLY DOCUMENTED IN WRITING. |
| Form 990, Part VI, Line 19 Required documents available to the public |
AJC CURRENTLY DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. AJC CURRENTLY MAKES ITS CONFLICT OF INTEREST POLICY AND WHISTLEBLOWER POLICY AVAILABLE TO THE PUBLIC ON ITS WEBSITE. THE AUDITED FINANCIAL STATEMENTS AND FORM 990 ARE ALSO AVAILABLE ON ITS WEBSITE AND FORM 990T IS AVAILABLE UPON REQUEST. THE IRS DOES NOT REQUIRE THE PUBLIC DISSEMINATION OF AJC'S IRS FORM 1023 BECAUSE THE ORGANIZATION WAS INITIALLY RECOGNIZED AS TAX EXEMPT IN 1929 AND PUBLIC AVAILABILITY IS NOT REQUIRED WHERE THE ORGANIZATION DID NOT HAVE A COPY OF ITS EXEMPTION APPLICATION ON THE EFFECTIVE DATE OF THE REQUIREMENT IN JULY 1987. |
| Form 990, Part VII, Section A, Line 1a, Column (D) |
DURING 2020, PER DAVID HARRIS' CONTRACT, HE RECEIVED A PAYOUT OF $446,424 FROM HIS SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. THE BALANCE WAS ACCUMULATED OVER THE CONTRACT PERIOD, FOR ACCOUNTING PURPOSES WAS NOT AN EXPENSE TO AJC IN 2020. THE PAYMENT CONSTITUTED TAXABLE INCOME TO DAVID HARRIS. ALSO IN 2020, PER DAVID HARRIS' CONTRACT, AJC ESTABLISHED A SUPPLEMENTARY EXECUTIVE RETIREMENT PLAN. AS A PORTION OF THE PLAN IS TAXABLE TO DAVID HARRIS EACH YEAR, AJC HAS REMITTED THE AMOUNT OF THE TAXES DUE ON HIS BEHALF, AS IS COMMON PRACTICE, WHICH WILL BE OFFSET AGAINST ANY FUTURE PAYMENTS OF THE PLAN. ACCORDINGLY, SCHEDULE J, PART II, COLUMN B INCLUDES THE 2020 CALENDAR YEAR'S TAXABLE BENEFITS OF $107,144. UNDER THE PLAN, AJC ACCRUED AN ADDITIONAL $107,144 IN CALENDAR YEAR 2020. THIS AMOUNT IS DEFERRED AND REPORTED ON SCHEDULE J, PART II, COLUMN C. |
| Form 990, Part VII, Section A |
AJC'S EXECUTIVE COUNCIL SERVES AS ITS FIDUCIARY BOARD. |
| Form 990, Part VIII, Line 7a GROSS AMOUNT FROM SALES OF ASSETS OTHER THAN INVENTORY |
IN 2020, AJC CHANGED INVESTMENT ADVISORS FROM CAMBRIDGE ADVISORS TO BROWN ADVISORY. AS A RESULT, THERE WAS CONSIDERABLE TURNOVER IN THE PORTFOLIO'S UNDERLYING MANAGERS WHICH CAUSED PURCHASES AND SALES DURING THE YEAR TO BE UNUSUALLY HIGH. |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances |
PENSION AND POSTRETIREMENT CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS REPRESENTS THE NON-CASH CHARGE TAKEN PRIMARILY DUE TO THE INCREASE IN THE DISCOUNT RATE USED IN CALCULATING THE BENEFIT OBLIGATION - -729827; CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT - -2711000; |
| Schedule F, Part I, Line 3 INVESTMENTS |
IN 2020, AJC CHANGED INVESTMENT ADVISORS FROM CAMBRIDGE ADVISORS TO BROWN ADVISORY. AS A RESULT, THERE WAS CONSIDERABLE TURNOVER IN THE PORTFOLIO'S UNDERLYING MANAGERS WHICH CAUSED FLUCTUATIONS IN THE LOCATIONS WHERE INVESTMENTS ARE HELD. |
| Schedule R, Part II Part II |
THE FORM 990 INCLUDES ALL ACTIVITY OF OUR FOREIGN AFFILIATES SINCE THE ACTIVITIES ARE CONDUCTED SOLELY BY EMPLOYEES OF FOREIGN AFFILIATES WHICH EXIST AS FLOW-THROUGH ENTITIES FOR PURPOSES OF ACTING WITHIN THE FOREIGN COUNTRIES. IN ADDITION, SHOWING ALL ACTIVITY PROVIDES A MORE ACCURATE AND COMPLETE PICTURE OF AJC AND ENHANCES THE TRANSPARENCY OF OUR REPORTING AS OPPOSED TO REPORTING ONLY OUR U.S. ACTIVITIES. FOR EACH OF AJC'S FOREIGN AFFILIATES, AJC HAS CONTRACTED WITH LOCAL ACCOUNTING FIRMS TO COMPILE FINANCIAL INFORMATION AND PREPARE LOCAL REGULATORY FILINGS. ALL RECORDS ARE MAINTAINED IN THE UNITED STATES. ADDITIONALLY, PERIODICALLY, AJC STAFF IN THE FINANCE, LEGAL AND ADMINISTRATIVE AREAS VISIT THE FOREIGN OFFICES TO REVIEW INTERNAL CONTROLS AND MONITOR COMPLIANCE WITH LOCAL REGULATIONS. |
| GENERAL NOTE |
IN GENERAL, NUMBERS IN THIS FORM 990 AND AJC'S ANNUAL FINANCIAL AUDIT REPORT ARE IDENTICAL. HOWEVER, IN A FEW PLACES, THERE ARE NON-MATERIAL DIFFERENCES BASED ON DIFFERENCES BETWEEN THE STANDARDS OF THE ACCOUNTING PROFESSION FOR A FINANCIAL REPORT, AND THE INQUIRIES ON THE FORM 990. |
| FINANCIAL IMPACT OF COVID-19 PANDEMIC |
The COVID-19 pandemic, whose effects first became known in January 2020, is having a broad and negative impact on commerce and financial markets around the world. The extent of the impact of COVID-19 on AJC's operational and financial performance will depend on certain developments, including the duration and spread of the outbreak, which at present cannot be determined. Accordingly, the extent to which COVID-19 may impact AJC's financial position, statements of activities, functional expenses and cash flows is uncertain. |
Attach to Form 990 or 990-EZ.