Rockland Community College Foundation Inc
- Assets
- $5.9m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Suffern, NY
- Founding
- 03/1987
- Data as of
- 12/2021
- EIN
- 22-2680786
Organization Overview
Rockland Community College Foundation Inc is located in Suffern, NY. The organization was established in 1987. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rockland Community 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 12/2021, Rockland Community College Foundation Inc generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $853.6k during the year ending 12/2021. While expenses have increased by 3.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ROCKLAND COMMUNITY COLLEGE FOUNDATION IS A NON-PROFIT CHARITABLE INSTITUTION THAT RESPONDS TO THE EDUCATIONAL NEEDS AND ASPIRATIONS OF ROCKLAND COUNTY BY ASSISTING ROCKLAND COMMUNITY COLLEGE. THE FOUNDATION PROVIDES FINANCIAL ASSISTANCE TO THE COLLEGE FOR THE CONSULTING DEVELOPMENT OF ITS STUDENTS, STAFF, FACULTY AND PROGRAMS. THE FOUNDATION HELPS THE COLLEGE ADDRESS SEVERAL NEEDS WHICH HAVE A SIGNIFICANT EDUCATIONAL AND COMMUNITY IMPACT THAT WOULD NOT BE MET WITHOUT PRIVATE FUNDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE THE INCORPORATION OF THE RCC FOUNDATION, IT HAS PROVIDED OVER $4 MILLION IN SUPPORT FOR THE STUDENTS OF ROCKLAND COMMUNITY COLLEGE. THIS INCLUDES SUPPORT FOR SCHOLARSHIPS, INNOVATIVE PROGRAMMING AND ACTIVITIES, AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR FACULTY AND STAFF. THESE EFFORTS ARE ALIGNED WITH THE MISSION AND VISION OF THE FOUNDATION. OF NOTE, THE FOUNDATION PROVIDES SUPPORT THROUGH SCHOLARSHIPS AND FINANCIAL ASSISTANCE, GEARED TO RETAIN STUDENTS TO THE COMPLETION OF THEIR ACADEMIC GOALS WITH A FOCUS ON SUPPORTING UNDER-REPRESENTED STUDENTS, SUCH AS SOCIOECONOMICALLY DISADVANTAGED STUDENTS, SINGLE PARENTS, STUDENTS WITH DISABILITIES, AND VETERANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Baston President | Officer | 1 | $0 |
Susan Lyddon Executive Director | Officer | 40 | $0 |
Lorraine Sorrentino CFO | Officer | 40 | $0 |
Patty Maloney-Titland Board Member | Trustee | 1 | $0 |
Aimee Vargas Board Member | Trustee | 1 | $0 |
Eric Dranoff ESQ Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $16,216 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $338,489 |
| Noncash contributions included in lines 1a–1f | $8,728 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $354,705 |
| Total Program Service Revenue | $0 |
| Investment income | $84,686 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,989,731 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,429,122 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $338,038 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $136,721 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $14,700 |
| 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 | $34,159 |
| Fees for services: Other | $0 |
| Advertising and promotion | $22,632 |
| Office expenses | $101,938 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,000 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,936 |
| All other expenses | $13,213 |
| Total functional expenses | $853,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,234 |
| Savings and temporary cash investments | $784 |
| Pledges and grants receivable | $5,833 |
| Accounts receivable, net | $14,424 |
| 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 | $445 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,695,132 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,560 |
| Total assets | $5,868,412 |
| Accounts payable and accrued expenses | $31,287 |
| 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 | $12,544 |
| Total liabilities | $43,831 |
| Net assets without donor restrictions | $247,484 |
| Net assets with donor restrictions | $5,577,097 |
| 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 | $5,868,412 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rockland Community College Foundation Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $20,000 |
Endowment Analysis
| Beg. Balance | $1,145,840 |
| Earnings | $93,368 |
| Other Expense | $20,623 |
| Ending Balance | $1,218,585 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hansjorg Wyss Institute For Biologically Inspired Engineering Boston, MA | $178,608,152 | $47,853,271 |
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University Of Connecticut Foundation Incorporated Storrs, CT | $744,628,423 | $150,826,250 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |
Americans For Ben-Gurion University Inc New York, NY | $873,598,749 | $105,090,161 |
Trustees For Harvard University Cambridge, MA | $1,524,141,919 | $57,204,982 |
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
Forrestal Agricultural Corporation Princeton, NJ | $368,119,233 | $43,096,782 |
Harvard Private Capital Realty Inc Boston, MA | $2,527,458,180 | $415,073,812 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
University Of Massachusetts Foundation Inc Boston, MA | $842,030,994 | $57,111,837 |
University Of Vermont And State Agricultural College Foundation Burlington, VT | $307,895,720 | $102,950,116 |