Faculty Student Association State University College At Fredonia Inc
- Assets
- $20.4m
- Revenue
- $15.0m
- Investments
- $0.0
- Employees
- 430
- Location
- Fredonia, NY
- Founding
- 12/1953
- Data as of
- 05/2022
- EIN
- 16-0728535
Organization Overview
Faculty Student Association State University College At Fredonia Inc is located in Fredonia, NY. The organization was established in 1953. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 05/2024, Faculty Student Association State University College At Fredonia Inc employed 430 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faculty Student Association State University College At Fredonia 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 05/2022, Faculty Student Association State University College At Fredonia Inc generated $15.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $12.6m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IDENTIFY AND PROVIDE APPROPRIATE GOODS AND SERVICES WHICH MAY NOT BE OTHERWISE PROVIDED BY THE STATE OF NEW YORK. CENTRAL TO THIS EFFORT IS THE ABILITY TO RECOGNIZE THE VARIETY AND DYNAMIC NATURE OF THE POPULATION INVOLVED IN AN ATTEMPT TO MAXIMIZE CUSTOMER SATISFACTION WHILE MAINTAINING THE FINANCIAL INTEGRITY OF THE ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FSA DINING SERVICES - MANAGES SELF-OPERATED, DIVERSE, STATE-OF-THE-ART, DINING FACILITIES OFFERING A VARIETY OF FOOD CHOICES FOR THE STUDENTS, FACULTY, AND STAFF OF SUNY FREDONIA. DINING FACILITIES INCLUDE ONE ALL-YOU-CARE-TO-EAT CAFETERIA, ONE A'LA CARTE FACILITIES, AND TWO RETAIL CAFES OFFERING SPECIALTY SELECTIONS. FSA DINING ALSO OPERATES A PROFESSIONAL CATERING DEPARTMENT AND TWO CONCESSION FACILITIES.
UNIVERSITY BOOKSTORE - CARRIES A WIDE SELECTION OF NEW AND USED TEXTBOOKS, FICTION, AND NON-FICTION TRADE BOOKS, AND CAN SPECIAL ORDER BOOKS THAT ARE NOT FOUND ON THE SHELVES. THE BOOKSTORE ALSO CARRIES AN ASSORTMENT OF FREDONIA MERCHANDISE INCLUDING CLOTHING, GIFTWARE, AND SCHOOL SUPPLIES, AS WELL AS MAGAZINES, CD'S, DVD'S, GREETING CARDS, STATIONARY AND ART SUPPLIES. THE CONVENIENCE STORE CARRIES SUNDRIES AND TRADITIONAL SNACKS, BEVERAGES, AND FOOD ITEMS. THE BOOKSTORE ALSO OPERATES A FULL-SCALE LICENSED STARBUCKS COFFEE SHOP.
OTHER PROGRAM SERVICES - ANY INCOME AFTER OPERATING EXPENSES AND FUNDING REQUIREMENTS ARE USED TO BENEFIT THE UNIVERSITY BY SUPPORTING NUMEROUS CAMPUS PROGRAMS AND ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Kelly President (part-Year) | Trustee | 1 | $0 |
Dr Judy Langworthy President (current) | OfficerTrustee | 1 | $0 |
Dan Quagliana Vice President | OfficerTrustee | 1 | $0 |
Tracy Stenger Secretary | OfficerTrustee | 1 | $0 |
Zachary Dean Treasurer | OfficerTrustee | 1 | $0 |
Brian Lyght Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,927,269 |
| Investment income | $104,667 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $165,159 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,962,919 |
| Statement of Expenses | |
|---|---|
| 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. | $265,463 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,357,664 |
| Pension plan accruals and contributions | $381,024 |
| Other employee benefits | $937,393 |
| Payroll taxes | $289,866 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,206 |
| 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 | $473,490 |
| Advertising and promotion | $6,230 |
| Office expenses | $0 |
| Information technology | $34,904 |
| Royalties | $151,458 |
| Occupancy | $458,348 |
| Travel | $1,051 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,185 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $651,366 |
| Insurance | $128,804 |
| All other expenses | $0 |
| Total functional expenses | $12,615,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,655,371 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,365,609 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $594,736 |
| Prepaid expenses and deferred charges | $93,762 |
| Investments—publicly traded securities | $8,150,239 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,552 |
| Total assets | $20,429,854 |
| Accounts payable and accrued expenses | $1,379,201 |
| Grants payable | $0 |
| Deferred revenue | $10,262 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $830,985 |
| 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 | $1,628,673 |
| Total liabilities | $3,849,121 |
| Net assets without donor restrictions | $16,580,733 |
| 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 | $16,580,733 |