Nassau Community College Foundation Inc
- Assets
- $4.9m
- Revenue
- $726.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Garden City, NY
- Founding
- 06/1980
- Data as of
- 08/2023
- EIN
- 11-2533314
Organization Overview
Nassau Community College Foundation Inc is located in Garden City, NY. The organization was established in 1980. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, 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. Nassau Community 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 08/2023, Nassau Community College Foundation Inc generated $726.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.2%) each year. All expenses for the organization totaled $1.1m during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Nassau Community College Foundation Inc has awarded 11 individual grants totaling $1,666,459. 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
THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION ORGANIZED UNDER THE LAWS OF NEW YORK STATE FOR THE PRINCIPAL PURPOSE OF ACCEPTING, HOLDING, INVESTING AND ADMINISTERING ANY PROCEEDS OR PROPERTIES RESULTING FROM GIFTS, BEQUESTS, DEVISES OR FUNDRAISING ACTIVITIES AND DISBURSING OR DONATING THE INCOME OR PRINCIPAL THEREOF FOR BENEFIT OF NASSAU COMMUNITY COLLEGE INCLUDING, AMONG OTHER THINGS, THE MAKING OF GRANTS AND SCHOLARSHIPS TO FACULITY AND STUDENTS, THE MAKING OF GRANTS TO NASSAU COMMUNITY COLLEGE FOR OPERATING AND CAPITAL EXPENDITURES, AND FINANCIAL ASSISTANCE FOR CONTINUING DEVELOPMENT OF THE FACULTY AND STAFF AND PROGRAMS OF NASSAU COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS SCHOLARSHIPS AND FINANCIAL ASSITANCE FUNDS ARE ADMINISTERED AND DISBURSED AS SCHOLARSHIPS AND GRANTS TO THE STUDENTS AND FACULTY OF NASSAU COMMUNITY COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Schmidt Director | Trustee | 0.2 | $0 |
Michael G Mcginty Chair | OfficerTrustee | 2 | $0 |
Victoria Ortiz-Kleinschmidt Vice Chair | OfficerTrustee | 2 | $0 |
Nicholas Terzulli Treasurer | OfficerTrustee | 2 | $0 |
Dr Maria P Conzatti Ex-Officio Director | Trustee | 2 | $0 |
Dr Azad K Anand Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $36,972 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $645,238 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $682,210 |
| Total Program Service Revenue | $0 |
| Investment income | $92,302 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$48,478 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $726,034 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $334,540 |
| Grants and other assistance to domestic individuals. | $638,034 |
| 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 | $2,225 |
| Fees for services: Accounting | $85,189 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $20,725 |
| 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 | $2,759 |
| All other expenses | $2,457 |
| Total functional expenses | $1,085,929 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,411,960 |
| Pledges and grants receivable | $3,754 |
| 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 | $24,096 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,398,596 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,581 |
| Total assets | $4,851,987 |
| Accounts payable and accrued expenses | $63,834 |
| Grants payable | $0 |
| Deferred revenue | $545,940 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $30,155 |
| 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 | $78,975 |
| Total liabilities | $718,904 |
| Net assets without donor restrictions | $386,586 |
| Net assets with donor restrictions | $3,746,497 |
| 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 | $4,851,987 |
Grants Awarded
Over the last fiscal year, Nassau Community College Foundation Inc has awarded $334,540 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
NASSAU COMMUNITY COLLEGE PURPOSE: ACADEMIC PROGRAM SUPPORT | $112,381 |
NASSAU COMMUNITY COLLEGE PURPOSE: COLLEGE ENHANCEMENT | $91,831 |
NASSAU COMMUNITY COLLEGE PURPOSE: PRIVATE SPONSOR FUNDED PROGRAMS | $88,719 |
NASSAU COMMUNITY COLLEGE PURPOSE: FACULTY DEVELOPMENT | $41,609 |