Stony Brook Foundation Inc
- Assets
- $805.3m
- Revenue
- $150.4m
- Investments
- $396.2m
- Employees
- 9
- Location
- Stony Brook, NY
- Founding
- 04/1967
- Data as of
- 06/2022
- EIN
- 11-6077945
Organization Overview
Stony Brook Foundation Inc is located in Stony Brook, NY. The organization was established in 1967. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2023, Stony Brook Foundation Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stony Brook 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, Stony Brook Foundation Inc generated $150.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $63.7m during the year ending 06/2022. While expenses have increased by 3.2% per year over the past 7 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 2015, Stony Brook Foundation Inc has awarded 63 individual grants totaling $168,483,814. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE TAX-EXEMPT MISSION OF SUNY STONY BROOK THROUGH FUNDRAISING EFFORTS.
Describe the Organization's Program Activity:
STONY BROOK FOUNDATION PROVIDED FUNDING TO SUPPORT VARIOUS SUNY STONY BROOK ACADEMIC PROGRAMS, CENTERS AND INSTITUTES IN ORDER TO NURTURE ACADEMIC ACHIEVEMENT AMONG SUNY STONY BROOK STUDENTS AND FACULTY BY PROVIDING FUNDS TO ATTRACT AND RETAIN EXCEPTIONAL FACULTY THROUGH THE USE OF ENDOWED CHAIRS AND ENDOWED PROFESSORSHIPS, AID IN CURRICULUM ENHANCEMENT AS WELL AS EQUIP CLASSROOMS AND LABORATORIES WITH THE LATEST TECHNOLOGY.
STONY BROOK FOUNDATION PROVIDED SUNY STONY BROOK FUNDS FOR VARIOUS INSTITUTIONAL SUPPORT, INCLUDING BUT NOT LIMITED TO: FUNDING CONSTRUCTION OF CUTTING-EDGE FACILITIES SUCH AS THE MEDICAL AND RESEARCH TRANSLATION (MART) AS WELL AS SUBSTANTIAL RENOVATIONS OF THE CURRENT EXISTING STONY BROOK UNIVERSITY HOSPITAL, SUBSIDIZED FUNDING TO SUPPORT VARIOUS SUNY STONY BROOK STRATEGIC ACADEMIC INITIATIVES, AND STONY BROOK UNIVERSITY DEPARTMENTS SUCH AS MATHEMATICS, PHYSICS AND THE TURKANA BASIN INSTITUTE, AN ACADEMIC BASE FOR SCIENTIFIC RESEARCH AND TRAINING IN PALEONTOLOGY AND PALEOANTHROPOLOGY.
STONY BROOK FOUNDATION PROVIDED SUPPORT TO SUNY STONY BROOK IN ITS EFFORTS TO MAINTAIN THEIR REPUTATION AS A PUBLIC RESEARCH UNIVERSITY THAT THRIVES ON THE FOREFRONT OF DISCOVERY. AS SUCH, STONY BROOK FOUNDATION PROVIDES FUNDING TO SUPPORT VARIOUS AREAS OF RESEARCH INCLUDING: CANCER RESEARCH (STONY BROOK CANCER CENTER), ENVIRONMENTAL AND SUSTAINABILITY RESEARCH (SHINNECOCK BAY RESTORATION PROGRAM), CHEMICAL BIOLOGY RESEARCH, COMMUNICATION SCIENCE RESEARCH, TICK BORNE DISEASE RESEARCH WITHIN THE LABORATORY FOR COMPARATIVE MEDICINE, AND MANY OTHER VARIOUS RESEARCH EFFORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Maurie Mcinnis Ex-Officio Trustee (voting) | Trustee | 3 | $135,000 |
Mr Richard L Gelfond Trustee, Chair | OfficerTrustee | 4 | $0 |
Mr David E Acker Trustee, Vice Chair | OfficerTrustee | 1 | $0 |
Dr Laurie Landeau Trustee, Vice Chair | OfficerTrustee | 1 | $0 |
Dr James H Simons Trustee, Chair Emeritus | OfficerTrustee | 1 | $0 |
Mr Cary F Staller Trustee, Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Investment Manager Co Sbf Investment Mgmt | 6/29/22 | $2,533,541 |
Investment Manager Co Sbf Investment Mgmt | 6/29/22 | $1,594,968 |
Investment Manager Co Sbf Investment Mgmt | 6/29/22 | $815,268 |
Investment Manager Co Sbf Investment Mgmt | 6/29/22 | $1,458,909 |
Investment Manager Co Sbf Investment Mgmt | 6/29/22 | $1,773,716 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,637,637 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $113,599,945 |
| Noncash contributions included in lines 1a–1f | $6,128,461 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $116,237,582 |
| Total Program Service Revenue | $1,726,607 |
| Investment income | $663,495 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $133,127 |
| Net Rental Income | $90,688 |
| Net Gain/Loss on Asset Sales | $30,616,405 |
| Net Income from Fundraising Events | -$232,802 |
| Net Income from Gaming Activities | $20,250 |
| Net Income from Sales of Inventory | $4,827 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $150,444,669 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,202,206 |
| Grants and other assistance to domestic individuals. | $5,422,930 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,080,923 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,031,436 |
| Compensation of current officers, directors, key employees. | $288,041 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,234,659 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,890,517 |
| Payroll taxes | $129,167 |
| Fees for services: Management | $4,434,427 |
| Fees for services: Legal | $125,350 |
| Fees for services: Accounting | $139,487 |
| Fees for services: Lobbying | $75,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,847,226 |
| Fees for services: Other | $2,280,588 |
| Advertising and promotion | $413,307 |
| Office expenses | $1,102,519 |
| Information technology | $971,645 |
| Royalties | $0 |
| Occupancy | $775,392 |
| Travel | $1,062,475 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,098,328 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $239,342 |
| Insurance | $183,470 |
| All other expenses | $212,112 |
| Total functional expenses | $63,743,349 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,255,481 |
| Savings and temporary cash investments | $102,217,240 |
| Pledges and grants receivable | $144,140,784 |
| Accounts receivable, net | $295,159 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $68,434 |
| Inventories for sale or use | $21,013 |
| Prepaid expenses and deferred charges | $477,919 |
| Net Land, buildings, and equipment | $11,187,915 |
| Investments—publicly traded securities | $96,611,646 |
| Investments—other securities | $396,173,831 |
| Investments—program-related | $2,807,754 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $805,257,176 |
| Accounts payable and accrued expenses | $10,557,193 |
| Grants payable | $0 |
| Deferred revenue | $44,912 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $66,901,428 |
| 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 | $546,494 |
| Total liabilities | $78,050,027 |
| Net assets without donor restrictions | $57,287,052 |
| Net assets with donor restrictions | $669,920,097 |
| 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 | $805,257,176 |
Grants Awarded
Over the last fiscal year, Stony Brook Foundation Inc has awarded $18,199,573 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
RESEARCH FOUNDATION - STONY BROOK UNIVERSITY PURPOSE: RESEARCH AWARDS & EDUCATIONAL SUPPORT | $4,471,450 |
STONY BROOK UNIVERSITY OFFICE PURPOSE: EDUCATIONAL SUPPORT | $13,681,650 |
FACULTY STUDENT ASSOCIATION PURPOSE: EDUCATIONAL SUPPORT | $15,500 |
STONY BROOK UNIVERSITY HOSPITAL PURPOSE: OPERATION SUPPORT | $30,973 |