Buffalo State College Foundation Inc
- Assets
- $99.4m
- Revenue
- $13.4m
- Investments
- $79.0m
- Employees
- 37
- Location
- Buffalo, NY
- Founding
- 02/1966
- Data as of
- 06/2022
- EIN
- 16-6037117
Organization Overview
Buffalo State College Foundation Inc is located in Buffalo, NY. The organization was established in 1966. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Buffalo State College Foundation Inc employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Buffalo State College Foundation Inc 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 06/2022, Buffalo State College Foundation Inc generated $13.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.4% each year . All expenses for the organization totaled $4.8m during the year ending 06/2022. While expenses have increased by 2.3% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT SERVICES TO THE BUFFALO STATE UNIVERSITY AND ITS STUDENTS.
Describe the Organization's Program Activity:
PROVIDING FINANCIAL ASSISTANCE TO THE UNIVERSITY AND ITS AFFILIATED ORGANIZATIONS, FACULTY, STAFF AND STUDENTS, INCLUDING, BUT NOT LIMITED TO, SCHOLARSHIPS, FELLOWSHIPS, AND LOANS TO STUDENTS; SUPPORTING RESEARCH PROGRAMS, CONFERENCES, SEMINARS, ART EXHIBITIONS AND CULTURAL EVENTS, ACQUIRING EQUIPMENT FOR EDUCATIONAL AND RESEARCH PROJECTS, LIBRARY HOLDINGS, ART-RELATED AND LITERARY COLLECTIONS, ACADEMIC CHAIRS, ATHLETIC PROGRAMS, THE BUFFALO STATE COLLEGE ALUMNI ASSOCIATION, UNIVERSITY-COMMUNITY PROGRAMS, FACULTY AND STAFF TRAVEL, UNIVERSITY-RELATED PUBLICATIONS, CAMPUS BEAUTIFICATION; AND PROVIDING EXPENSE FUNDS FOR UNIVERSITY OFFICIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas A Sinatra Chair | OfficerTrustee | 1 | $0 |
Judy L Elliott Vice Chair | OfficerTrustee | 1 | $0 |
Ronald Brown Treasurer | OfficerTrustee | 1 | $0 |
James J Rehak Secretary | OfficerTrustee | 1 | $0 |
James M Finnerty Executive Director | OfficerTrustee | 1 | $0 |
C Teo Balbach Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $265,514 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,035,064 |
| Noncash contributions included in lines 1a–1f | $54,236 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,300,578 |
| Total Program Service Revenue | $0 |
| Investment income | $749,933 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,281,143 |
| Net Income from Fundraising Events | $18,553 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,426,991 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,145,084 |
| 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 | $118,651 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $340 |
| Payroll taxes | $10,794 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,695 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $138,153 |
| Fees for services: Investment Management | $166,152 |
| Fees for services: Other | $665,170 |
| Advertising and promotion | $219,319 |
| Office expenses | $154,006 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,979 |
| Travel | $70,785 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,221 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $20,180 |
| All other expenses | $164,601 |
| Total functional expenses | $4,848,089 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $984,832 |
| Savings and temporary cash investments | $3,992,195 |
| Pledges and grants receivable | $11,993,582 |
| Accounts receivable, net | $170,318 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $311,697 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,251 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $79,030,697 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,929,474 |
| Total assets | $99,437,046 |
| Accounts payable and accrued expenses | $855,282 |
| Grants payable | $0 |
| 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 | $2,269,015 |
| Total liabilities | $3,124,297 |
| Net assets without donor restrictions | $15,737,242 |
| Net assets with donor restrictions | $80,575,507 |
| 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 | $99,437,046 |