Firemens Association Of The State New York Foundation Inc
- Assets
- $161.4m
- Revenue
- $10.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Albany, NY
- Founding
- 01/2003
- Data as of
- 09/2021
- EIN
- 14-1835837
Organization Overview
Firemens Association Of The State New York Foundation Inc is located in Albany, NY. The organization was established in 2003. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Firemens Association Of The State New York 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 09/2021, Firemens Association Of The State New York Foundation Inc generated $10.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.2% each year . All expenses for the organization totaled $7.5m during the year ending 09/2021. While expenses have increased by 7.9% 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
THE FOUNDATION WAS FORMED TO OPERATE EXCLUSIVELY FOR THE CHARITABLE AND EDUCATIONAL PURPOSES OF PROMOTING FIRE PREVENTION, EDUCATION AND TRAINING, AND SUPPORT OF THE
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS ARE USED TOWARDS EDUCATIONAL PURPOSES OF PROMOTING FIRE PREVENTION, EDUCATION AND TRAINING, PROVIDING SCHOLARSHIPS, AND SUPPORTING THE INDISPENSABLE CHARITABLE ACTIVITIES OF THE VOLUNTEER FIRE SERVICE THROUGHOUT NEW YORK STATE. DURING THE CURRENT YEAR THE FOUNDATION GAVE A GRANT OF $7,137,108 TO THE FIREMEN'S ASSOCIATION OF THE STATE OF NEW YORK. A SUBSTANTIAL PORTION OF THE GRANT TO FASNY WAS USED TO SUPPORT THE OPERATIONS OF THE FASNY FIREMEN'S HOME WHICH PROVIDES A RETIREMENT AND SKILLED NURSING CARE FACILITY TO ELIGIBLE FORMER MEMBERS OF THE NYS VOLUNTEER FIREFIGHTING COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Krawczyk Treasurer | OfficerTrustee | 4 | $5,504 |
Diana Pfersick Secretary | OfficerTrustee | 4 | $5,000 |
Edward Tase Jr President | OfficerTrustee | 8 | $0 |
Brian Mcqueen Vice President | OfficerTrustee | 4 | $0 |
Roy Dahlen Director | Trustee | 2 | $0 |
Frederick Griffiths Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100 |
| Total Program Service Revenue | $0 |
| Investment income | $3,819,469 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,798,020 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,617,589 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,137,108 |
| 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. | $10,504 |
| Compensation of current officers, directors, key employees. | $10,504 |
| 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 | $6,869 |
| Fees for services: Accounting | $5,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $297,745 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $110 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,591 |
| 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 | $1,739 |
| All other expenses | $1,500 |
| Total functional expenses | $7,463,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,426 |
| Savings and temporary cash investments | $326,871 |
| Pledges and grants receivable | $0 |
| 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 | $123,260 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $160,933,925 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $161,398,482 |
| Accounts payable and accrued expenses | $13,744 |
| 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 | $0 |
| Total liabilities | $13,744 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $161,384,738 |
| 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 | $161,398,482 |
Grants Awarded
Over the last fiscal year, Firemens Association Of The State New York Foundation Inc has awarded $4,458,308 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Albany, NY PURPOSE: Program | $3,908,308 |
Hudson, NY PURPOSE: Program | $550,000 |
Endowment Analysis
| Beg. Balance | $140,927,785 |
| Earnings | $27,622,674 |
| Admin Expense | $28,713 |
| Net Contributions | $100 |
| Grants | $7,137,108 |
| Ending Balance | $161,384,738 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |
Echoing Green Inc New York, NY | $60,744,468 | $19,754,073 |
Partnership For Ed Advancement Inc New York, NY | $36,194,552 | $41,198,488 |
Alavi Foundation New York, NY | $64,468,510 | $30,201,673 |
Children Scholarship Fund Philadelphia Philadelphia, PA | $24,817,690 | $13,351,193 |
Foundation For Jewish Day Schools Of Greater Philadelphia Philadelphia, PA | $5,671,351 | $11,978,701 |
Uncommon Lender Inc New York, NY | $174,239,408 | $12,168,791 |
Family Enrichment Network Inc Johnson City, NY | $8,020,609 | $12,621,621 |
Laspau Inc Cambridge, MA | $9,172,350 | $9,862,515 |