Brooklyn College Foundation Inc
- Assets
- $124.4m
- Revenue
- $14.6m
- Investments
- $41.3m
- Employees
- 82
- Location
- Brooklyn, NY
- Founding
- 12/1963
- Data as of
- 06/2023
- EIN
- 11-1904329
Organization Overview
Brooklyn College Foundation Inc is located in Brooklyn, NY. The organization was established in 1963. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2023, Brooklyn College Foundation Inc employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brooklyn 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 06/2023, Brooklyn College Foundation Inc generated $14.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $9.0m during the year ending 06/2023. While expenses have increased by 2.2% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST BROOKLYN COLLEGE BY DEVELOPING AN ONGOING & INCREASING SUPPORT BASE FROM COLLEGE ALUMNI.
Describe the Organization's Program Activity:
IN FY23, THE BROOKLYN COLLEGE FOUNDATION GRANTED MORE THAN $7.05 MILLION TO BROOKLYN COLLEGE. THIS INCLUDES OVER $3.2 MILLION AWARDED TO STUDENTS IN THE FORM OF SCHOLARSHIPS, AWARDS AND INTERNSHIPS; AND NEARLY $826,000 IN THE FORM OF PROFESSORSHIPS, LECTURESHIPS, AND PROFESSIONAL DEVELOPMENT SUPPORT FOR FACULTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Evan Silverstein Chair | OfficerTrustee | 2 | $0 |
Martin D Sass Vice-Chair | OfficerTrustee | 2 | $0 |
Ante Basic Treasurer | OfficerTrustee | 2 | $0 |
Carol L Zicklin Secretary | OfficerTrustee | 2 | $0 |
Samuel E Beller Board Member | Trustee | 1 | $0 |
Sarah Benson Board Member | Trustee | 0.75 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ologie Llc Consulting Services | 6/29/23 | $136,000 |
Marketing Communication Resource Inc Printing & Mail | 6/29/23 | $125,259 |
Market Once Holdingcom Llc Dbadme Del Mailing, Postage & Flight Fees | 6/29/23 | $119,831 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $132,583 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,716,700 |
| Noncash contributions included in lines 1a–1f | $217,833 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,849,283 |
| Total Program Service Revenue | $0 |
| Investment income | $1,824,595 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,856,920 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,589,197 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,355,129 |
| 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 | $735,152 |
| Pension plan accruals and contributions | $63,749 |
| Other employee benefits | $170,469 |
| Payroll taxes | $58,180 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,167 |
| Fees for services: Accounting | $64,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $90,099 |
| Fees for services: Investment Management | $126,324 |
| Fees for services: Other | $378,584 |
| Advertising and promotion | $0 |
| Office expenses | $318,969 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $115,216 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $135,738 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $33,606 |
| All other expenses | $0 |
| Total functional expenses | $8,975,154 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $703,305 |
| Savings and temporary cash investments | $680,470 |
| Pledges and grants receivable | $4,893,110 |
| 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 | $110,632 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $75,738,532 |
| Investments—other securities | $41,258,030 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,027,480 |
| Total assets | $124,411,559 |
| Accounts payable and accrued expenses | $3,071,671 |
| 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 | $699,488 |
| Total liabilities | $3,771,159 |
| Net assets without donor restrictions | $4,447,734 |
| Net assets with donor restrictions | $116,192,666 |
| 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 | $124,411,559 |