Cortland College Foundation Inc
- Assets
- $60.4m
- Revenue
- $11.8m
- Investments
- $136.5k
- Employees
- 0
- Location
- Cortland, NY
- Founding
- 02/1972
- Data as of
- 06/2022
- EIN
- 16-0979814
Organization Overview
Cortland College Foundation Inc is located in Cortland, NY. The organization was established in 1972. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Cortland College 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 06/2022, Cortland College Foundation Inc generated $11.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.0% each year . All expenses for the organization totaled $3.4m during the year ending 06/2022. While expenses have increased by 6.2% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RECEIVE AND MANAGE DONATIONS ON BEHALF OF SUNY CORTLAND COLLEGE TO FUND EDUCATIONAL PROJECTS, SCHOLARSHIPS, AND AWARDS THAT MIGHT OTHERWISE NOT HAVE BEEN SUPPORTED.
Describe the Organization's Program Activity:
RECEIVE AND MANAGE DONATIONS ON BEHALF OF SUNY CORTLAND COLLEGE TO FUND EDUCATIONAL PROJECTS, SCHOLARSHIPS, AND AWARDS THAT MIGHT OTHERWISE NOT HAVE BEEN SUPPORTED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexander Voitovich Director | Trustee | 3 | $0 |
Anthony Moon Director | Trustee | 3 | $0 |
Barry J Thornton II Director | Trustee | 3 | $0 |
Candy Altman Secretary | OfficerTrustee | 5 | $0 |
David Kronman Director | Trustee | 3 | $0 |
David Turybury Vice Chair | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $42,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,154,668 |
| Noncash contributions included in lines 1a–1f | $145,096 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,196,768 |
| Total Program Service Revenue | $0 |
| Investment income | $1,300,745 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,317,659 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,840,674 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,420,035 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $15,321 |
| Fees for services: Accounting | $14,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $273,981 |
| Fees for services: Other | $354,724 |
| Advertising and promotion | $0 |
| Office expenses | $130,207 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $48,161 |
| 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 | $26,150 |
| All other expenses | $25,931 |
| Total functional expenses | $3,446,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22 |
| Savings and temporary cash investments | $4,935,873 |
| Pledges and grants receivable | $2,230,486 |
| Accounts receivable, net | $9,385 |
| 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 | $29,967 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $52,771,125 |
| Investments—other securities | $136,492 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $243,600 |
| Total assets | $60,356,950 |
| Accounts payable and accrued expenses | $32,514 |
| Grants payable | $0 |
| Deferred revenue | $82,250 |
| 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 | $114,764 |
| Net assets without donor restrictions | $3,191,685 |
| Net assets with donor restrictions | $57,050,501 |
| 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 | $60,356,950 |