Foundation For City College
- Assets
- $359.2m
- Revenue
- $27.9m
- Investments
- $0.0
- Employees
- 144
- Location
- New York, NY
- Founding
- Data as of
- 06/2023
- EIN
- 84-3867573
Organization Overview
Foundation For City College is located in New York, NY. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2023, Foundation For City College employed 144 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For City College 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 06/2023, Foundation For City College generated $27.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (47.8%) each year. All expenses for the organization totaled $33.7m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Foundation For City College has awarded 20 individual grants totaling $38,549,245. 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
AN EDUCATIONAL FOUNDATION SUPPORTING STUDENTS & PROGRAMS OF THE CITY COLLEGE OF NY, CUNY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE ACTIVITIES SUPPORTING PROGRAMS - PROVIDING SUPPORT TO STUDENTS, FACULTY, AND PROGRAMS WITHIN CITY COLLEGE.
SCHOLARSHIP PROGRAMS - PROVIDING SCHOLARSHIPS FOR CITY COLLEGE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Vince Boudreau College President | OfficerTrustee | 1 | $0 |
Martin Cohen Chairperson | OfficerTrustee | 1 | $0 |
Vivien R Clark Secretary | OfficerTrustee | 1 | $0 |
Edward Blank Board Member | Trustee | 1 | $0 |
Joseph Fleischer Board Member | Trustee | 1 | $0 |
Dr Leonard Kleinrock Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empire Office Inc Renovations | 6/29/23 | $522,351 |
Sanky Communications Direct Mail/online Fundraising | 6/29/23 | $296,107 |
Urban Arts Partnership Gaming Pathways Program Services | 6/29/23 | $236,216 |
Pryor Cashman Llp Legal Services | 6/29/23 | $143,766 |
Highland Fundraising Solutions Llc Fundraising Services | 6/29/23 | $134,599 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $93,595 |
| Related organizations | $0 |
| Government grants | $801,625 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,585,979 |
| Noncash contributions included in lines 1a–1f | $61,224 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,481,199 |
| Total Program Service Revenue | $172,426 |
| Investment income | $9,033,152 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $13,267 |
| Net Rental Income | $68,245 |
| Net Gain/Loss on Asset Sales | -$3,784,881 |
| Net Income from Fundraising Events | -$222,633 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $595 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,910,258 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,131,251 |
| Grants and other assistance to domestic individuals. | $7,712,970 |
| 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 | $2,101,699 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $99,468 |
| Payroll taxes | $164,678 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53 |
| Fees for services: Accounting | $67,248 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $421,602 |
| Fees for services: Investment Management | $610,956 |
| Fees for services: Other | $3,054,800 |
| Advertising and promotion | $150,783 |
| Office expenses | $113,919 |
| Information technology | $11,847 |
| Royalties | $0 |
| Occupancy | $178,029 |
| Travel | $292,872 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,142,169 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $78,275 |
| All other expenses | $251,299 |
| Total functional expenses | $33,668,656 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,646,918 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $18,050,997 |
| 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 | $10,582 |
| Prepaid expenses and deferred charges | $1,961,050 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $336,559,357 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,113 |
| Total assets | $359,239,017 |
| Accounts payable and accrued expenses | $1,783,738 |
| 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 | $508,925 |
| Total liabilities | $2,292,663 |
| Net assets without donor restrictions | $27,426,713 |
| Net assets with donor restrictions | $329,519,641 |
| 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 | $359,239,017 |
Grants Awarded
Over the last fiscal year, Foundation For City College has awarded $13,536,669 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
RESEARCH FOUNDATION OF CUNY PURPOSE: SPONSORSHIP | $10,841,163 |
THE CITY COLLEGE OF NEW YORK PURPOSE: SPONSORSHIP | $2,291,053 |
AARON DAVIS HALL INC PURPOSE: SPONSORSHIP | $22,453 |
NEW YORK FOOTBALL GIANTS INC PURPOSE: SPONSORSHIP | $220,000 |
FAMU FOUNDATION INC PURPOSE: SPONSORSHIP | $150,000 |
GREATER HARLEM CHAMBER OF COMMERCE PURPOSE: SPONSORSHIP | $12,000 |