The Schenectady Foundation

Organization Overview

The Schenectady Foundation is located in Schenectady, NY. The organization was established in 1993. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Schenectady 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 12/2021, Schenectady Foundation generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.8% each year . All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 5.1% 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 2014, Schenectady Foundation has awarded 195 individual grants totaling $9,387,390. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE SCHENECTADY FOUNDATION IS A PHILANTHROPIC TRUST ESTABLISHED TO ASSIST AND PROMOTE THE WELFARE OF RESIDENTS OF SCHENECTADY COUNTY, NEW YORK. THE FOUNDATION MAKES GRANTS TO TAX EXEMPT CHARITIES THAT EFFECTIVELY ADDRESS THE NEEDS AND ISSUES OF THE COMMUNITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE SCHENECTADY FOUNDATION DISTRIBUTES FUNDS TO BENEFIT THE WELFARE OF PEOPLE WHO LIVE OR WORK IN SCHENECTADY COUNTY, NY. THE FOUNDATION CONDUCTS A COMPETITIVE GRANT PROGRAM AND AWARDS FUNDS ON THE BASIS OF COMMUNITY NEED, ORGANIZATIONAL CAPACITY AND PROGRAM EFFECTIVENESS. THE FOUNDATION ALSO AWARDS COLLEGE SCHOLARSHIPS TO DESERVING STUDENTS FROM SCHENECTADY COUNTY. DURING 2021, APPROXIMATELY 155,000 INDIVIDUALS WERE SERVED IN SCHENECTADY COUNTY, NY.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Trustee
$866
Omayra Padilla Dejesus
Chair
$0
Martha Asselin
Vice Chair
$0
Robert Carreau
Executive Director And Secretary
$0
Herbert L Shultz Jr
Treasurer
$0
Michael Ozimek
Assistant Treasurer
$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$1,292,456
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,292,456
Total Program Service Revenue$0
Investment income $1,800,689
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $2,349,125
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,442,270

Grants Awarded

Over the last fiscal year, The Schenectady Foundation has awarded $1,487,050 in support to 24 organizations.

Grant RecipientAmount

REGIONAL FOOD BANK

Org PageRecipient Profile

Latham, NY

PURPOSE: UNDERSERVED SCHENECTADY NEIGHBORHOODS; AND FOOD DELIVERY TRUCK

$204,400

HOMETOWN HEALTH CENTER

Org PageRecipient Profile

Schenectady, NY

PURPOSE: DENTAL CLINIC

$200,000

BETTER COMMUNITY NEIGHBORHOODS INC

Org PageRecipient Profile

Schenectady, NY

PURPOSE: HOUSING COUNSELING AND FINANCIAL LITERACY

$200,000

SCHENECTADY INNER CITY MINISTRIES

Org PageRecipient Profile

Schenectady, NY

PURPOSE: HEALTH LIVING 360

$100,600

Schenectady, NY

PURPOSE: CARA HOUSE SUPPORTIVE HOUSING

$100,000

SCHENECTADY COMMUNITY ACTION PROGRAM

Org PageRecipient Profile

Schenectady, NY

PURPOSE: CRN EMERGENCY FUND

$85,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that The Schenectady Foundation has recieved totaling $10,000.

Awarding OrganizationAmount
Putnam Family Foundation Inc

Cobleskill, NY

PURPOSE: PROGRAM SUPPORT

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,447,354
Earnings$132,941
Ending Balance$1,580,295

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