Research Foundation Of The City University Of New York
- Assets
- $439.3m
- Revenue
- $501.6m
- Investments
- $0.0
- Employees
- 10,558
- Location
- New York, NY
- Founding
- 06/1982
- Data as of
- 06/2021
- EIN
- 13-1988190
Organization Overview
Research Foundation Of The City University Of New York is located in New York, NY. The organization was established in 1982. 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 06/2022, Research Foundation Of The City University Of New York employed 10,558 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Research Foundation Of The City University Of New York 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 06/2021, Research Foundation Of The City University Of New York generated $501.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $498.7m during the year ending 06/2021. While expenses have increased by 0.1% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORT TO CUNY FACULTY AND STAFF IN IDENTIFYING AND OBTAINING EXTERNAL SUPPORT (PRE-AWARD) FROM GOVERNMENT AND PRIVATE SPONSORS AND IS RESPONSIBLE FOR THE ADMINISTRATION OF ALL SUCH FUNDED PROGRAMS (POST-AWARD).
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZED RESEARCH - INCLUDES ALL EXTERNALLY FUNDED RESEARCH ACTIVITIES, BOTH BASIC AND APPLIED, AND ALL DEVELOPMENT ACTIVITIES. A SYSTEMATIC, INTENSIVE STUDY INTENDED TO INCREASE KNOWLEDGE OR UNDERSTANDING OF THE SUBJECT STUDIED, SPECIFICALLY DIRECTED TOWARD APPLYING A NEW KNOWLEDGE TO MEET A RECOGNIZED NEED, OR A SYSTEMATIC APPLICATION OF KNOWLEDGE TO THE PRODUCTION OF USEFUL MATERIALS, DEVISES, AND SYSTEMS OR METHODS, INCLUDING DESIGN, DEVELOPMENT, AND IMPROVEMENT OF PROTOTYPES AND NEW PROCESSES TO MEET SPECIFIC REQUIREMENTS. IT ALSO INCLUDES ACTIVITIES RELATED TO TRAINING OF INDIVIDUALS IN RESEARCH TECHNIQUES (COMMONLY CALLED RESEARCH TRAINING) WHERE SUCH ACTIVITIES UTILIZE THE SAME FACILITIES AS OTHER RESEARCH DEVELOPMENT ACTIVITIES.
OTHER INSTITUTIONAL ACTIVITY - WHEN ACTIVITIES ARE UNDERTAKEN BY THE INSTITUTION WITHOUT OUTSIDE SUPPORT, THEY MAY BE CLASSIFIED AS OTHER INSTITUTIONAL ACTIVITIES. OIA TYPICALLY INCLUDES AUXILIARY ENTERPRISES IN SUPPORT OF ACTIVITIES WHICH INCLUDE: STUDENT UNIONS, DINING HALLS, ATHLETICS, RESIDENCE HALLS, THEATRES, ETC.
INSTRUCTION/TRAINING - INCLUDES ALL SPONSORED TEACHING AND TRAINING ACTIVITIES, EXCEPT FOR RESEARCH TRAINING, OF AN INSTITUTION WHETHER OFFERED FOR CREDIT TOWARD A DEGREE OR CERTIFICATE, ON A NON-CREDIT BASIS, OR THROUGH REGULAR ACADEMIC DEPARTMENTS OR BY SEPARATE DIVISIONS, SUCH AS SUMMER SESSION.
OTHER SPONSORED ACTIVITY - PROGRAMS AND PROJECTS FUNDED BY FEDERAL AND NON-FEDERAL AGENCIES AND ORGANIZATIONS THAT INVOLVE THE PERFORMANCE OF WORK OR ACTIVITIES THAT ARE NOT CONSIDERED INSTRUCTION AND ORGANIZED RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 0.2 | $0 |
Name Not Listed Board Member | Trustee | 0.2 | $0 |
Name Not Listed Chairperson | Trustee | 0.3 | $0 |
Name Not Listed Board Member | Trustee | 0.2 | $0 |
Name Not Listed Board Member | Trustee | 0.2 | $0 |
Name Not Listed Board Member | Trustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Crowell & Moring Llp Legal Services | 6/29/22 | $937,881 |
Caveo Llc Consultants | 6/29/22 | $241,850 |
National Jewish Medical & Rsch Ctr Research Services | 6/29/22 | $227,951 |
Blackfly Investments Llcdba Molecular Testing Labs Consultants | 6/29/22 | $254,719 |
Grant Thornton Llp Audit Services | 6/29/22 | $185,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $468,200,197 |
| Investment income | $79,886 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,189,649 |
| Net Gain/Loss on Asset Sales | $142,392 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $501,643,850 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $19,991,196 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,069,622 |
| Compensation to disqualified persons | $45,267 |
| Other salaries and wages | $224,491,325 |
| Pension plan accruals and contributions | $12,089,366 |
| Other employee benefits | $40,466,257 |
| Payroll taxes | $15,724,832 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,400,336 |
| Fees for services: Accounting | $233,776 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $223,416 |
| Fees for services: Other | $64,290,977 |
| Advertising and promotion | $252,322 |
| Office expenses | $1,015,876 |
| Information technology | $2,696,338 |
| Royalties | $0 |
| Occupancy | $1,822,790 |
| Travel | $672,719 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $479,812 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,653 |
| Insurance | $2,015,812 |
| All other expenses | $0 |
| Total functional expenses | $498,715,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,503,403 |
| Savings and temporary cash investments | $153,972,531 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $102,301,763 |
| 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 | $5,694,958 |
| Investments—publicly traded securities | $48,239,994 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,829,637 |
| Other assets | $38,335,509 |
| Total assets | $439,317,076 |
| Accounts payable and accrued expenses | $84,812,033 |
| Grants payable | $4,103,081 |
| Deferred revenue | $88,541,289 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $121,518,707 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $60,248,003 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $407,452 |
| Total liabilities | $359,630,565 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $79,686,511 |