City University Construction Fund
- Assets
- $55.9m
- Revenue
- $1.5b
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/1967
- Data as of
- 06/2021
- EIN
- 13-2587538
Organization Overview
City University Construction Fund is located in New York, 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. City University Construction Fund 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, City University Construction Fund generated $1.5b in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $1.5b during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 6 years. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
TUITION & FEES:CITY UNIVERSITY CONSTRUCTION FUND ("CUCF") RECEIVES CASH TRANSFERS FROM TUITION AND FEES COLLECTED FROM THE VARIOUS SENIOR AND COMMUNITY COLLEGES IN NEW YORK CITY, AND REMITS THE FUNDS TO THE CITY.
APPROPRIATIONS:THE ORGANIZATION RECEIVES APPROPRIATIONS FROM THE STATE OF NEW YORK AND THE CITY OF NEW YORK, WHICH ARE USED FOR THE REIMBURSEMENT OF OPERATING EXPENSES AND DEBT SERVICE PAYMENTS TO THE DORMITORY AUTHORITY OF NEW YORK (DASNY). DASNY HAS ISSUED BONDS, THE PROCEEDS OF WHICH ARE USED TO SUPPORT CUNY'S CAPITAL PROGRAM.
PROJECT FUNDS:EFFECTIVE JANUARY 1, 2013, FUNDS FOR ALL CUCF MANAGED PROJECTS ARE REMITTED TO CUCF BY DASNY AND OTHER VARIOUS SOURCES, AND ARE THEN DISBURSED BY CUCF TO CONTRACTORS RESPONSIBLE FOR CONSTRUCTION OF FACILITIES AT BOTH SENIOR COLLEGES AND COMMUNITY COLLEGES.
THE ORGANIZATION RECEIVED APPROPRIATIONS FROM NEW YORK STATE FOR THE ADMINISTRATION OF CONSTRUCTION RELATED PROJECTS BY THE FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert P Lemieux Executive Director, Ddcm | Officer | 35 | $231,130 |
Scott Burrell General Counsel | Officer | 35 | $210,000 |
Ali Vedavez Deputy Executive Director | 35 | $195,000 | |
Gustavo A Ordonez Chief Of Staff | Officer | 35 | $194,148 |
John J Antonelli Treasurer/deputy Ed Thru 12/30/20 | Officer | 35 | $189,385 |
Gwen Perlman Director, Capital Budget | Officer | 35 | $182,540 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Liro Program And Construction Management Construction Management | 6/29/21 | $17,593,325 |
Johnson Controls Inc Design And Installation Services | 6/29/21 | $8,227,813 |
Fj Sciame Construction Co Inc Construction Services | 6/29/21 | $7,909,558 |
Tdx Construction Corporation Construction Management | 6/29/21 | $3,871,494 |
Board Of Managers Of Two Court Square Co Service Management | 6/29/21 | $4,368,929 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,399,557,314 |
| Government grants | $133,551,290 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,533,108,604 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,533,108,604 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,533,108,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,263,330 |
| Savings and temporary cash investments | $5,775,885 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,830,390 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,411 |
| Total assets | $55,878,016 |
| Accounts payable and accrued expenses | $507,815 |
| 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 | $42,509,994 |
| Total liabilities | $43,017,809 |
| Net assets without donor restrictions | $12,860,207 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $55,878,016 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that City University Construction Fund has recieved totaling $7,629,728.
| Awarding Organization | Amount |
|---|---|
Hunter College Foundation Inc New York, NY PURPOSE: TO SUPPORT CONSTRUCTION OF COOPERMAN LIBRARY 5TH FLOOR, AND BAKER LINK PROJECT | $3,814,864 |
Hunter College Foundation Inc New York, NY PURPOSE: TO SUPPORT CONSTRUCTION OF COOPERMAN LIBRARY 5TH FLOOR, AND BAKER LINK PROJECT | $3,814,864 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nyc School Support Services Inc New York, NY | $89,153,904 | $637,449,387 |
Jefferson University Physicians Philadelphia, PA | $187,548,071 | $476,809,687 |
Research Foundation Of The City University Of New York New York, NY | $439,317,076 | $501,643,850 |
Harvard Management Private Equity Corporation Boston, MA | $50,439,258,807 | $2,446,321,053 |
New York University In Abu Dhabi Corporation New York, NY | $8,480,173 | $220,364,326 |
Rutgers University Foundation New Brunswick, NJ | $149,036,870 | $173,496,480 |
Wilkes University Wilkes Barre, PA | $232,735,413 | $139,424,489 |
U B Foundation Activities Inc Buffalo, NY | $144,841,745 | $102,321,519 |
Hansjorg Wyss Institute For Biologically Inspired Engineering Boston, MA | $178,608,152 | $47,853,271 |
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University Of Connecticut Foundation Incorporated Storrs, CT | $744,628,423 | $150,826,250 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |