Cornell University Foundation
- Assets
- $179.8m
- Revenue
- $29.2m
- Investments
- $168.2m
- Employees
- 0
- Location
- Ithaca, NY
- Founding
- 03/1988
- Data as of
- 06/2021
- EIN
- 22-2848738
Organization Overview
Cornell University Foundation is located in Ithaca, NY. The organization was established in 1988. According to its NTEE Classification (B43) the organization is classified as: Universities, 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. Cornell University 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 06/2021, Cornell University Foundation generated $29.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.1%) each year. All expenses for the organization totaled $50.0m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Cornell University Foundation has awarded 357 individual grants totaling $113,904,691. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A SERVICE FOR CORNELL ALUMNI AND FRIENDS WHO WISH TO MAKE CHARITABLE GIFTS THROUGH THE STRUCTURE OF A DONOR-ADVISED FUND.
Describe the Organization's Program Activity:
THE ORGANIZATION PROVIDES ALLOCATIONS TO CORNELL UNIVERSITY AND OTHER CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Cary Trustee | Trustee | 0.3 | $0 |
Nelson Schaenen Jr Trustee | Trustee | 0.3 | $0 |
David C Costine Trustee | Trustee | 0.3 | $0 |
Wendell L Bryce Trustee | Trustee | 0.3 | $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 | $9,853,838 |
| Noncash contributions included in lines 1a–1f | $6,633,555 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,853,838 |
| Total Program Service Revenue | $0 |
| Investment income | $930,514 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,429,196 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,213,548 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $48,629,290 |
| Grants and other assistance to domestic individuals. | $4,243 |
| 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 | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,223,425 |
| Fees for services: Other | $0 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $50,034,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,734,297 |
| Pledges and grants receivable | $100,000 |
| Accounts receivable, net | $0 |
| 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 | $25,384 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $8,692,001 |
| Investments—other securities | $168,235,109 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $968,225 |
| Total assets | $179,755,016 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $31,500 |
| 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 | $31,500 |
| Net assets without donor restrictions | $179,723,516 |
| Net assets with donor restrictions | $0 |
| 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 | $179,755,016 |
Grants Awarded
Over the last fiscal year, Cornell University Foundation has awarded $48,294,483 in support to 119 organizations.
| Grant Recipient | Amount |
|---|---|
Ithaca, NY PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $26,165,714 |
Indianapolis, IN PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $5,000,000 |
Rochester, NY PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $1,500,000 |
Hudson, OH PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $1,449,162 |
San Diego, CA PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $1,400,000 |
Cambridge, MA PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $1,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Cornell University Foundation has recieved totaling $38,940.
| Awarding Organization | Amount |
|---|---|
Sanders Foundation El Paso, TX PURPOSE: GENERAL SUPPORT | $25,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $5,570 |
Grace Jones Richardson Tr Greensboro, NC PURPOSE: TO ASSIST THE ORGANIZATION IN CARRYING OUT ITS EXEMPT PURPOSE | $5,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,870 |
The O-I Charities Foundation Perrysburg, OH PURPOSE: CHARITABLE SUPPORT | $500 |
Smbc Global Foundation Inc New York, NY PURPOSE: EDUCATIONAL INSTITUTIONS AND RELATED ACTIVITIES | $450 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Point Park University Pittsburgh, PA | $213,510,842 | $122,379,566 |
Desales University Center Valley, PA | $267,808,643 | $127,653,675 |
University Of The Sciences In Philadelphia Philadelphia, PA | $394,161,147 | $107,500,197 |
Moravian University Bethlehem, PA | $317,733,693 | $123,053,733 |
Ursinus College Collegeville, PA | $337,795,514 | $116,678,933 |
Saint Peters University Jersey City, NJ | $164,476,054 | $118,523,321 |
Wagner College Staten Island, NY | $223,315,881 | $116,300,889 |
Canisius College Buffalo, NY | $289,486,779 | $104,179,636 |
University Of The Arts Philadelphia, PA | $189,935,840 | $110,070,964 |
Lesley University Cambridge, MA | $459,682,175 | $126,944,351 |
Alfred University Alfred, NY | $321,880,003 | $125,818,572 |
Saint Michaels College Colchester, VT | $214,854,575 | $111,425,492 |