Schenectady Foundation Inc
- Assets
- $671.6k
- Revenue
- $737.0k
- Investments
- $0.0
- Employees
- 7
- Location
- Schenectady, NY
- Founding
- 10/2010
- Data as of
- 12/2023
- EIN
- 61-1600398
Organization Overview
Schenectady Foundation Inc is located in Schenectady, NY. The organization was established in 2010. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Schenectady Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Schenectady 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 12/2023, Schenectady Foundation Inc generated $737.0k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $917.4k during the year ending 12/2023. While expenses have increased by 7.3% per year over the past 9 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 Inc has awarded 60 individual grants totaling $2,358,912. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ADMINISTRATIVE AND OPERATIONAL SUPPORT TO THE SCHENECTADY FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND SCHOLARSHIPS MADE:THE SCHENECTADY FOUNDATION, INC. PROVIDES ADMINISTRATIVE AND OPERATING SUPPORT TO THE GRANTS AND SCHOLARSHIP PROGRAMS OF THE SCHENECTADY FOUNDATION, INCLUDING THE CREATION OF GRANT APPLICATIONS AND PROCESSES, PROVIDING TECHNICAL ASSISTANCE TO GRANT APPLICATIONS AND GRANTEES, REVIEWING AND EVALUATING APPLICATIONS, ENSURING DUE DILIGENCE AND FOLLOW-UP THROUGH GRANT REPORTING, TRACKING AND MANAGING GRANT CONDITIONS AND PAYMENTS.
STRATEGIC INITIATIVES:SCHENECTADY FOUNDATION, INC. CARRIES OUT THE FOUNDATION'S COMMUNITY PRIORITIES AND STRATEGIC INITIATIVES.NEW PRIORITIES ARE ADOPTED FROM TIME TO TIME BY THE FOUNDATION.IN 2023, STRATEGIC INITIATIVES INCLUDED:1. FOOD SECURITY: A. WEEKEND BACKPACK PROGRAM - THE PROGRAM PROVIDES PKGS OF WEEKEND MEALS TO OVER 800ELEMENTARY SCHOOL CHILDREN IN SCHENECTADY COUNTY. A PILOT PROGRAM OF FOOD DISTRIBUTION THROUGH SCHOOL FOOD PANTRIES WAS STARTED IN THE CITY SCHOOL DISTRICT. PARTNERS INCLUDE CITY MISSION OF SCHENECTADY, MVP HEALTH CARE, BROADVIEW FCU, REGIONAL FOOD BANK OF NENY, AND SCHOOL DISTRICTS. DURING 2023 THERE WERE 803 STUDENTS SERVED.B. SCHENECTADY COUNTY FOOD COUNCIL -THE FOOD COUNCIL WAS FORMALLY ESTABLISHED IN THE PUBLIC EYE AFTER A PRESS CONFERENCE IN AUGUST. THERE ARE 45 VOLUNTEERS ON THE STEERING COMMITTEE AND SERVING ON THREE WORKGROUPS - A.) ACCESS & EQUITY; B.) ADVOCACY & EMPOWERMENT; C.) AGRICULTURE & FOOD SYSTEMS - ALL WORKING HARD TO EXPAND VISIBILITY AND INCLUDE MORE MEMBERS OF THE COMMUNITY. PARTNERS INCLUDE SCSD, SCHENECTADY CO PUBLIC HEALTH, THE FOOD PANTRIES FOR THE CAPITAL DISTRICT, SCHENECTADY GREENMARKET, ELECTRIC CITY CO-OP, MESSIAH LUTHERAN CHURCH, SCHENECTADY STREET SOLDIERS, AND SCHENECTADY URBAN FARMS.2. NEIGHBORHOODS: A. THRIVING NEIGHBORHOODS CHALLENGE PROJECTS, RUN BY CONCERNED AND DEDICATED RESIDENTS AND NEIGHBORHOOD ASSOCIATIONS WHICH WERE STARTED IN 2022, MOVED FORWARD IN 2023. PROGRESS ON PROJECTS RESULTED IN APPROXIMATELY 50% COMPLETION IN 2023. PROJECTS SUCH AS PARK IMPROVEMENTS AND CULTURAL/ EDUCATIONAL PROGRAMS WERE ADVANCED BY THE COOPERATIVE WORK OF 85 VOLUNTEERS WITH THE RESULTING IMPROVEMENTS BENEFITING ALL CITY RESIDENTS (65,000).3. SYSTEMS CHANGE:A. THE ONE SCHENECTADY SYSTEMS CHANGE MOVEMENT GATHERED MOMENTUM FOLLOWING AN EVENT CELEBRATING THE FOUNDATION'S 60TH ANNIVERSARY YEAR AND INTRODUCING THE ESTABLISHMENT OF THE GRASSROOTS EQUITY FUND. CONVENING RESIDENTS AND ORGANIZATIONAL LEADERS, SYSTEMS CHANGE STRUCTURES AND STRATEGIC IMPACTS WERE DEFINED. THIS WILL SERVE THE ENTIRE COUNTY OF 150,000 PEOPLE BY CHANGING THE SYSTEMS THAT HAVE KEPT CURRENT SOCIETAL INEQUITIES IN PLACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alfred Tompkins Director | Trustee | 1 | $0 |
Johan Matthews Director | Trustee | 1 | $0 |
Kimberly Kilby Director | Trustee | 1 | $0 |
Pamela Pearlman Director | Trustee | 1 | $0 |
Jennifer Kenneally Director | Trustee | 1 | $0 |
Raysheea Turner Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $510,000 |
| Government grants | $24,458 |
| All other contributions, gifts, grants, and similar amounts not included above | $200,067 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $734,525 |
| Total Program Service Revenue | $0 |
| Investment income | $2,439 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $736,964 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $253,885 |
| 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. | $173,320 |
| Compensation of current officers, directors, key employees. | $43,331 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $220,005 |
| Pension plan accruals and contributions | $7,671 |
| Other employee benefits | $26,136 |
| Payroll taxes | $27,403 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,460 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $76,414 |
| Advertising and promotion | $5,285 |
| Office expenses | $31,771 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,427 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,586 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,478 |
| Insurance | $6,432 |
| All other expenses | $0 |
| Total functional expenses | $917,369 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $395,220 |
| Savings and temporary cash investments | $36,509 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,660 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $60,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,702 |
| Net Land, buildings, and equipment | $17,748 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $117,726 |
| Total assets | $671,565 |
| Accounts payable and accrued expenses | $37,141 |
| Grants payable | $48,457 |
| 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 | $118,214 |
| Total liabilities | $203,812 |
| Net assets without donor restrictions | $184,471 |
| Net assets with donor restrictions | $283,282 |
| 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 | $671,565 |
Grants Awarded
Over the last fiscal year, Schenectady Foundation Inc has awarded $203,027 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
REGIONAL FOOD BANK OF NENY PURPOSE: WEEKEND BACKPACK PROGRAM; SCSD FOOD PANTRIES | $141,098 |
SCHENECTADY COMMUNITY MINISTRIES PURPOSE: NEIGHBORHOOD CHALLENGE PROJECT-ASL PARK PROJECT WALLINGFORD PARK | $5,030 |
CAPITAL REGION LAND BANK PURPOSE: NEIGHBORHOOD CHALLENGE - ENGINE HILL | $11,384 |
SUNY SCHENECTADY PURPOSE: ROYALS CARE CENTER - FOOD AND HYGIENE SUPPLIES FOR PANTRY | $15,165 |
ELECTRIC CITY FOOD CO-OP PURPOSE: MARKET SURVEY AND PLANNING FOR COOP MARKET | $20,000 |
SCHENECTADY MUNICIPAL HOUSING AUTHORITY PURPOSE: NEIGHBORHOOD CHALLENGE - CARING FOR CARRIE ST PARK | $10,350 |