Cortland College Foundation Inc
- Assets
- $55.1m
- Revenue
- $6.8m
- Investments
- $160.9k
- Employees
- 0
- Location
- Cortland, NY
- Founding
- 02/1972
- Data as of
- 06/2020
- 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 06/2020, Cortland College Foundation Inc generated $6.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $3.2m during the year ending 06/2020. While expenses have increased by 5.7% 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
2020
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:
Part 3 - Line 4a
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 |
|---|---|---|---|
David Turybury Vice Chair | OfficerTrustee | 3 | $0 |
George Weissman Immediate Past Chair | OfficerTrustee | 10 | $0 |
Johanna R Ames Chair | OfficerTrustee | 10 | $0 |
Ronald Zdrojeski Treasurer (part Year) | OfficerTrustee | 8 | $0 |
Nora Sullivan Secretary | OfficerTrustee | 5 | $0 |
Peter C Perkins Executive Director | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,967,162 |
| Investment income | $1,033,421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$256,697 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,752,730 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,379,223 |
| 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 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 | $750 |
| Fees for services: Accounting | $13,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $227,505 |
| Fees for services: Other | $300,596 |
| Advertising and promotion | $0 |
| Office expenses | $114,406 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $73,691 |
| 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 | $32,410 |
| All other expenses | $0 |
| Total functional expenses | $3,158,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $593 |
| Savings and temporary cash investments | $5,302,027 |
| Pledges and grants receivable | $2,678,715 |
| Accounts receivable, net | $23,580 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $100,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,284 |
| Investments—publicly traded securities | $46,530,462 |
| Investments—other securities | $160,943 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $243,600 |
| Total assets | $55,056,204 |
| Accounts payable and accrued expenses | $153,739 |
| 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 | $153,739 |
| 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 | $54,902,465 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Cortland College Foundation Inc has recieved totaling $521,265.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $218,300 |
Park Foundation Inc Ithaca, NY PURPOSE: GENERAL OPERATING SUPPORT | $90,000 |
J M Mcdonald Foundation Inc Wilmington, DE PURPOSE: LYNNE PARKS '68 SUNY CORTLAND ALUMNI HOUSE PORCH RESTORATION PROJECT | $50,000 |
Park Foundation Inc Ithaca, NY PURPOSE: CORTLAND URBAN RECRUITMENT OF EDUCATORS (C.U.R.E.) SCHOLARSHIP AND PROGRAM | $45,000 |
Central New York Community Foundation Inc Syracuse, NY PURPOSE: GENERAL SUPPORT; PROGRAM SUPPORT | $43,250 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $26,960 |
Endowment Analysis
| Beg. Balance | $43,475,499 |
| Earnings | $10,244,938 |
| Admin Expense | $456,549 |
| Net Contributions | $1,162,050 |
| Other Expense | $1,014,958 |
| Ending Balance | $53,410,980 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hunter College Foundation Inc New York, NY | $144,509,988 | $37,248,838 |
The American Friends Of Winchester College New York, NY | $259,900 | $15,435,931 |
Friends Of@ascend Charter Schools Inc Brooklyn, NY | $51,013,536 | $16,135,870 |
Rowan University Foundation Inc Glassboro, NJ | $339,808,677 | $39,224,287 |
Equitable Facilities Fund Inc New York, NY | $843,754,758 | $34,535,002 |
Dudley Square Realty Corporation Boston, MA | $98,074,702 | $123 |
Stockton Affiliated Services Inc Galloway, NJ | $3,017,488 | $12,674,409 |
Auxiliary Campus Enterprises And Services State University College Alfred, NY | $11,814,689 | $16,740,654 |
College Of Staten Island Auxiliary Services Corp Inc Staten Island, NY | $62,695,629 | $9,780,570 |
American Friends Of The National Gallery London Inc New York, NY | $305,852,204 | $2,300,126 |
Auxiliary Services Corporation Of Suny Cortland Cortland, NY | $19,099,097 | $10,450,642 |
The Roosevelt Institute New York, NY | $39,947,474 | $14,561,739 |