Research Foundation For The State University Of New York
- Assets
- $1.5b
- Revenue
- $1.4b
- Investments
- $385.3m
- Employees
- 14,618
- Location
- Albany, NY
- Founding
- 11/1951
- Data as of
- 06/2023
- EIN
- 14-1368361
Organization Overview
Research Foundation For The State University Of New York is located in Albany, NY. The organization was established in 1951. 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, Research Foundation For The State University Of New York employed 14,618 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Research Foundation For The State 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 06/2023, Research Foundation For The State University Of New York generated $1.4b in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $1.4b during the year ending 06/2023. While expenses have increased by 1.2% 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
RESEARCH- PROGRAM SERVICE ACCOMPLISHMENTS- SEE SCHEDULE O
THE RF PROVIDES SERVICES TO CAMPUS-RELATED ORGANIZATIONS ACROSS 31 SUNY LOCATIONS AND TO RF AFFILIATES - SEPARATE, PRIVATE CORPORATIONS THAT SUPPORT CAMPUS GOALS TO CONDUCT COLLABORATIVE RESEARCH PROJECTS, EMPOWER SMALL BUSINESS INCUBATION, AND MANAGE AND DEVELOP REAL ESTATE. THE RF OFFERS HUMAN RESOURCES/PAYROLL AND PURCHASING/PAYABLES ADMINISTRATIVE SERVICES TO THESE ORGANIZATIONS. CAMPUS-RELATED ORGANIZATIONS ARE CREATED TO SUPPORT SUNY'S MISSION; EXAMPLES OF SUCH ORGANIZATIONS ARE CAMPUS FOUNDATIONS AND CLINICAL PRACTICE PLANS AT THE SUNY MEDICAL INSTITUTIONS. APPROXIMATELY 1,800 INDIVIDUALS WERE EMPLOYED BY THE RF FOR THESE PROGRAM SERVICES. THE RF ALSO ADMINISTERS GRANTS AND CONTRACTS SUCH AS SCHOLARSHIPS AND FELLOWSHIPS FOR SUNY STUDENTS THAT ARE FUNDED BY EXTERNAL SPONSORS AND ADMINISTERS PROGRAMS SUCH AS THE SUNY TECHNOLOGY ACCELERATOR FUND (TAF), WHICH ENABLES FACULTY INVENTORS AND SCIENTISTS TO DEMONSTRATE THAT THEIR PROMISING IDEAS HAVE COMMERCIAL POTENTIAL THROUGH FEASIBILITY STUDIES, PROTOTYPING, AND TESTING. THE REMAINING APPROXIMATELY 2,800 INDIVIDUALS EMPLOYED BY THE RF WERE MAINLY CORPORATE STAFF SUPPORTING THE PROGRAMS DESCRIBED IN LINES 4A THROUGH 4D. FOR MORE INFORMATION ABOUT THE RF GO TO WWW.RFSUNY.ORG.
PUBLIC SERVICE- PROGRAM SERVICE ACCOMPLISHMENTS- SEE SCHEDULE O
TRAINING AND EDUCATION- PROGRAM SERVICE ACCOMPLISHMENTS - SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director (as Of 09/2022) | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 10 | $0 |
Name Not Listed Director (through 2/2023) | Trustee | 2 | $125,000 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Chair | Trustee | 9 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Air Liquide Electronics Uc Lp Gas And Chemical Mgt | 6/29/23 | $3,216,225 |
Bank Of New York Mellon Corporation Investments Custodian | 6/29/23 | $2,378,608 |
Medbest Medical Management Incorporated Staffing Agency | 6/29/23 | $2,035,476 |
University Neurology Incorporated Ub Study Related To Health Improvements | 6/29/23 | $1,285,928 |
Bank Of America Banking Services | 6/29/23 | $1,016,128 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $708,372,095 |
| All other contributions, gifts, grants, and similar amounts not included above | $448,654,819 |
| Noncash contributions included in lines 1a–1f | $43,035 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,157,026,914 |
| Total Program Service Revenue | $191,795,381 |
| Investment income | $10,467,686 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,972,189 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,732,024 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,395,404,960 |
| 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. | $1,655,603 |
| Compensation of current officers, directors, key employees. | $1,655,603 |
| Compensation to disqualified persons | $123,414 |
| Other salaries and wages | $512,912,813 |
| Pension plan accruals and contributions | $32,217,308 |
| Other employee benefits | $126,968,909 |
| Payroll taxes | $32,495,228 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,348,310 |
| Fees for services: Accounting | $313,464 |
| Fees for services: Lobbying | $135,783 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,545,934 |
| Fees for services: Other | $96,279,106 |
| Advertising and promotion | $2,301,772 |
| Office expenses | $100,289,324 |
| Information technology | $12,143,770 |
| Royalties | $6,128,608 |
| Occupancy | $44,247,217 |
| Travel | $16,994,532 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,583,777 |
| Interest | $17,092,790 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $91,376,154 |
| Insurance | $1,934,400 |
| All other expenses | $47,438,834 |
| Total functional expenses | $1,357,481,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $61,572,114 |
| Pledges and grants receivable | $224,378,891 |
| Accounts receivable, net | $21,288,059 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,513 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $61,163 |
| Net Land, buildings, and equipment | $467,610,275 |
| Investments—publicly traded securities | $205,948,734 |
| Investments—other securities | $385,289,802 |
| Investments—program-related | $0 |
| Intangible assets | $5,202,577 |
| Other assets | $156,873,727 |
| Total assets | $1,528,226,855 |
| Accounts payable and accrued expenses | $146,191,530 |
| Grants payable | $0 |
| Deferred revenue | $262,521,279 |
| Tax-exempt bond liabilities | $2,920,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $159,153,559 |
| Unsecured mortgages and notes payable | $1,570,000 |
| Other liabilities | $127,731,066 |
| Total liabilities | $700,087,434 |
| Net assets without donor restrictions | $797,197,175 |
| Net assets with donor restrictions | $30,942,246 |
| 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 | $1,528,226,855 |