Suny Maritime Foundation Inc
- Assets
- $12.9m
- Revenue
- $3.1m
- Investments
- $8.7m
- Employees
- 0
- Location
- Bronx, NY
- Founding
- 06/2015
- Data as of
- 06/2022
- EIN
- 47-3560167
Organization Overview
Suny Maritime Foundation Inc is located in Bronx, NY. The organization was established in 2015. 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. Suny Maritime 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, Suny Maritime Foundation Inc generated $3.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (27.8%) each year. All expenses for the organization totaled $2.8m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE AND MANAGE PRIVATE FINANCIAL SUPPORT FOR SUNY MARITIME COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTMAKING PROGRAM:THE FOUNDATION SUPPORTS AND PROVIDES FINANCIAL ASSISTANCE TO SUNY MARITIME COLLEGE (THE "COLLEGE") BY SOLICITING, ACCEPTING AND MANAGING PRIVATE FINANCIAL SUPPORT FROM INDIVIDUALS, CORPORATIONS, FOUNDATIONS AND OTHER ORGANIZATIONS. SUCH FUNDING IS USED TO PROVIDE SCHOLARSHIPS AND FURTHER THE EDUCATIONAL OBJECTIVES OF THE COLLEGE.
ATHLETICS PROGRAM: THE OFFICE OF ATHLETICS OFFERS A WIDE ARRAY OF SPORT ACTIVITIES, FITNESS PROGRAMS AND RECREATIONAL FACILITIES FOR THE ENTIRE CAMPUS COMMUNITY. VARSITY ATHLETICS INCLUDES 13 NCAA DIVISION III TEAMS, MEN'S ROWING AND CO-ED SAILING TEAMS. CLUB SPORTS INCLUDE ICE HOCKEY, RIFLE AND RUGBY. INTRAMURAL SPORTS ARE OFFERED THROUGHOUT THE YEAR, WITH OFFERINGS BASED ON STUDENT ENGAGEMENT. THE DEPARTMENT OF PHYSICAL EDUCATION OFFERS CLASSES IN SWIMMING, YOGA, MARTIAL ARTS AND POWERBOAT HANDING, AMONG OTHERS.
BOAT DONATION PROGRAM: SUNY MARITIME COLLEGE OPERATES A BOAT DONATION PROGRAM TO RAISE ADDITIONAL RESOURCES TO SUPPORT THE WATERFRONT'S PROGRAMS AND TO PROVIDE ADDITIONAL INVENTORY FOR STUDENTS TO USE FOR TRAINING AND OTHER RECREATIONAL PURPOSES. THE ASSETS CURRENTLY OVERSEEN INCLUDE: POWER BOATS, SAILING VESSELS AND TRAILERS. IN ADDITION TO BEING A REVENUE GENERATING PROGRAM FOR THE COLLEGE/FOUNDATION, THE BOAT DONATION EXPANDS CONNECTIONS FOR THE COLLEGE AMONG THE SAILING COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aimee Bernstein Executive Director | OfficerTrustee | 20 | $0 |
Rear Adm Michael Alfultis President | OfficerTrustee | 1.5 | $0 |
Roxanne Thompson Treasurer | OfficerTrustee | 2 | $0 |
Scott Dieterich Treasurer Thru 10/21 | OfficerTrustee | 2 | $0 |
Capt Robert Johnston Chairman | OfficerTrustee | 0.5 | $0 |
John Bree Vice Chairman | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $441,740 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,365,284 |
| Noncash contributions included in lines 1a–1f | $219,851 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,807,024 |
| Total Program Service Revenue | $0 |
| Investment income | $255,048 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,804 |
| Net Income from Fundraising Events | $18,654 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,117,030 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,189,000 |
| Grants and other assistance to domestic individuals. | $1,299,039 |
| 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 | $26,344 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,688 |
| Advertising and promotion | $15,978 |
| Office expenses | $24,522 |
| Information technology | $29,092 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,882 |
| 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 | $87,563 |
| Insurance | $46,169 |
| All other expenses | $0 |
| Total functional expenses | $2,784,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,704,908 |
| Savings and temporary cash investments | $1,002,282 |
| Pledges and grants receivable | $50,000 |
| 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 | $40,096 |
| Net Land, buildings, and equipment | $253,468 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,746,311 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $110,493 |
| Total assets | $12,907,558 |
| Accounts payable and accrued expenses | $24,747 |
| 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 | $0 |
| Total liabilities | $24,747 |
| Net assets without donor restrictions | $2,094,240 |
| Net assets with donor restrictions | $10,788,571 |
| 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 | $12,907,558 |
Grants Awarded
Over the last fiscal year, Suny Maritime Foundation Inc has awarded $178,297 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SUNY MARITIME COLLEGE PURPOSE: PROGRAM SUPPORT | $160,087 |
RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK PURPOSE: STEM ACADEMY SUPPORT | $18,210 |