University At Albany Foundation
- Assets
- $168.5m
- Revenue
- $19.2m
- Investments
- $64.1m
- Employees
- 9
- Location
- Albany, NY
- Founding
- 10/1993
- Data as of
- 06/2021
- EIN
- 14-1503972
Organization Overview
University At Albany Foundation is located in Albany, NY. The organization was established in 1993. 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, University At Albany Foundation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University At Albany Foundation 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, University At Albany Foundation generated $19.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $6.9m during the year ending 06/2021. While expenses have increased by 0.2% 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, University At Albany Foundation has awarded 50 individual grants totaling $8,536,430. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE UNIVERSITY AT ALBANY FOUNDATION IS TO ENCOURAGE, RECEIVE, ACCEPT, HOLD, INVEST, AND MANAGE MONEY AND PROPERTY OF EVERY DESCRIPTION, AND THE DISBURSEMENT THEREOF FOR THE PROMOTION, DEVELOPMENT AND ADVANCEMENT OF THE WELFARE OF THE STATE UNIVERSITY OF NEW YORK AT ALBANY ("UNIVERSITY"), ITS STUDENTS, FACULTY, STAFF AND ALUMNI, AND ANY OTHER ORGANIZATION, QUALIFIED AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE CODE AND ITS REGULATIONS, WHICH HAS AMONG ITS CORPORATE PURPOSES PROVIDING ASSISTANCE TO THE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHER EDUCATION PROGRAM - ADMINISTER FUNDS FOR THE PROMOTION, DEVELOPMENT AND ADVANCEMENT OF THE WELFARE OF THE UNIVERSITY AT ALBANY, SUNY, ITS STUDENTS, FACULTY, STAFF AND ALUMNI. SCHOLARSHIPS, AWARDS, AND EMERGENCY STUDENT ASSISTANCE WERE PROVIDED TO 2,765 INDIVIDUALS.
ADMINISTRATIVE SERVICES - PROVIDE MANAGEMENT AND ACCOUNTING SERVICES TO ORGANIZATIONS WHOSE PURPOSE IS TO ADVANCE THE EDUCATIONAL AND RESEARCH MISSION OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Mcginn Jr Chief Financ | Officer | 24.37 | $213,585 |
Christopher Losavio Controller | 30 | $130,430 | |
Francis Zeronda Admin Counse | 0 | $119,059 | |
Fardin Sanai Executive Di | Officer | 5 | $11,794 |
Havidan Rodriguez Director | Trustee | 1 | $4,153 |
George Hearst III President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prime Buchholz Llc Inv Consultant | 6/29/22 | $135,697 |
Russell Reynolds Associate Exec Search | 6/29/22 | $115,724 |
Magicwig Productions Inc A/v Production | 6/29/22 | $106,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,896,160 |
| Investment income | $1,321,988 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $697,234 |
| Net Gain/Loss on Asset Sales | $5,407,988 |
| Net Income from Fundraising Events | -$12,129 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,151,448 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $2,990,336 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $265,290 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $365,898 |
| Pension plan accruals and contributions | $34,175 |
| Other employee benefits | $36,954 |
| Payroll taxes | $41,457 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,978 |
| Fees for services: Accounting | $62,066 |
| Fees for services: Lobbying | $27,600 |
| Fees for services: Fundraising | $15,000 |
| Fees for services: Investment Management | $138,686 |
| Fees for services: Other | $388,200 |
| Advertising and promotion | $5,854 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $68,090 |
| 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 | $26,734 |
| All other expenses | $0 |
| Total functional expenses | $6,865,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,835,715 |
| Savings and temporary cash investments | $1,000 |
| Pledges and grants receivable | $13,991,380 |
| 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 | $676,473 |
| Investments—publicly traded securities | $83,830,667 |
| Investments—other securities | $64,057,850 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,040,732 |
| Total assets | $168,467,650 |
| Accounts payable and accrued expenses | $441,026 |
| 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 | $14,229,768 |
| Total liabilities | $14,670,794 |
| 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 | $153,796,856 |
Grants Awarded
Over the last fiscal year, University At Albany Foundation has awarded $862,973 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
STATE UNIV OF NEW YORK AT ALBANY PURPOSE: CAPITAL CONTRIBUTION | $789,443 |
ALBANY MEDICAL COLLEGE PURPOSE: HEALTH RESEARCH | $49,530 |
ASSOCIATION TO ADVANCE COLLEGIATESCHOOLS OF BUSINESS PURPOSE: SPONSORSHIP | $14,000 |
IN OUR OWN VOICES INC PURPOSE: PROGRAM SUPPORT | $10,000 |