The Schenectady Foundation
- Assets
- $55.2m
- Revenue
- $5.4m
- Investments
- $47.9m
- Employees
- 0
- Location
- Schenectady, NY
- Founding
- 08/1993
- Data as of
- 12/2021
- EIN
- 14-6019650
Organization Overview
The Schenectady Foundation is located in Schenectady, NY. The organization was established in 1993. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Schenectady Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Schenectady Foundation generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.8% each year . All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 5.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Schenectady Foundation has awarded 195 individual grants totaling $9,387,390. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE SCHENECTADY FOUNDATION IS A PHILANTHROPIC TRUST ESTABLISHED TO ASSIST AND PROMOTE THE WELFARE OF RESIDENTS OF SCHENECTADY COUNTY, NEW YORK. THE FOUNDATION MAKES GRANTS TO TAX EXEMPT CHARITIES THAT EFFECTIVELY ADDRESS THE NEEDS AND ISSUES OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHENECTADY FOUNDATION DISTRIBUTES FUNDS TO BENEFIT THE WELFARE OF PEOPLE WHO LIVE OR WORK IN SCHENECTADY COUNTY, NY. THE FOUNDATION CONDUCTS A COMPETITIVE GRANT PROGRAM AND AWARDS FUNDS ON THE BASIS OF COMMUNITY NEED, ORGANIZATIONAL CAPACITY AND PROGRAM EFFECTIVENESS. THE FOUNDATION ALSO AWARDS COLLEGE SCHOLARSHIPS TO DESERVING STUDENTS FROM SCHENECTADY COUNTY. DURING 2021, APPROXIMATELY 155,000 INDIVIDUALS WERE SERVED IN SCHENECTADY COUNTY, NY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 0.5 | $866 | |
Omayra Padilla Dejesus Chair | OfficerTrustee | 1 | $0 |
Martha Asselin Vice Chair | OfficerTrustee | 1 | $0 |
Michael Ozimek Assistant Treasurer | Officer | 1 | $0 |
Robert Carreau Executive Director And Secretary | Officer | 1 | $0 |
Herbert L Shultz Jr Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,292,456 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,292,456 |
| Total Program Service Revenue | $0 |
| Investment income | $1,800,689 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,349,125 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,442,270 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,494,300 |
| Grants and other assistance to domestic individuals. | $34,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $206,963 |
| Fees for services: Other | $14,475 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $598,720 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,348,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,287,618 |
| Pledges and grants receivable | $1,770,700 |
| Accounts receivable, net | $29,005 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $47,876,940 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,234,900 |
| Total assets | $55,199,163 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,175,050 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,175,050 |
| Net assets without donor restrictions | $47,515,290 |
| Net assets with donor restrictions | $6,508,823 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $55,199,163 |
Grants Awarded
Over the last fiscal year, The Schenectady Foundation has awarded $1,487,050 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
Latham, NY PURPOSE: UNDERSERVED SCHENECTADY NEIGHBORHOODS; AND FOOD DELIVERY TRUCK | $204,400 |
Schenectady, NY PURPOSE: DENTAL CLINIC | $200,000 |
Schenectady, NY PURPOSE: HOUSING COUNSELING AND FINANCIAL LITERACY | $200,000 |
Schenectady, NY PURPOSE: HEALTH LIVING 360 | $100,600 |
Schenectady, NY PURPOSE: CARA HOUSE SUPPORTIVE HOUSING | $100,000 |
Schenectady, NY PURPOSE: CRN EMERGENCY FUND | $85,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Schenectady Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Putnam Family Foundation Inc Cobleskill, NY PURPOSE: PROGRAM SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $1,447,354 |
| Earnings | $132,941 |
| Ending Balance | $1,580,295 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Paula And Jerry Gottesman Family Supporting Foundation Inc Whippany, NJ | $103,919,025 | $11,534,966 |
The Jimmy And Berta Khezrie Charitable Foundation Long Branch, NJ | $561,838 | $13,044 |
Garnet Health Urgent Care P C Middletown, NY | $2,667,409 | $6,635,976 |
The Harry Halloran Jr Charitable Trust Philadelphia, PA | $26,412,399 | $8,412,088 |
Serv Properties And Management Inc Ewing, NJ | $27,477,154 | $8,087,563 |
Dentaquest Care Group Inc Boston, MA | $2,518,678 | $0 |
American Friends Of Sfath Emeth Yeshiva Brooklyn, NY | $187,158 | $4,689,874 |
Dbs Foundation Holdings Harrisburg, PA | $361,345 | $2,360,629 |
Knights Of Columbus Charities Usa Inc New Haven, CT | $92,663,013 | $7,484,954 |
Cfleads Accord, MA | $11,022,103 | $9,422,261 |
The American University Of Greece Foundation Boston, MA | $302,640,728 | $21,990,512 |
Endeavor Catalyst Inc New York, NY | $43,515,212 | $32,419,265 |