The Upstate Foundation Inc
- Assets
- $259.8m
- Revenue
- $33.1m
- Investments
- $166.2m
- Employees
- 124
- Location
- Syracuse, NY
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 16-1068101
Organization Overview
The Upstate Foundation Inc is located in Syracuse, NY. The organization was established in 1976. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2021, Upstate Foundation Inc employed 124 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Upstate 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 12/2021, Upstate Foundation Inc generated $33.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $11.6m during the year ending 12/2021. While expenses have increased by 3.3% 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 2016, Upstate Foundation Inc has awarded 724 individual grants totaling $30,229,257. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE AND ADMINISTER GIFTS AND BEQUESTS PRIMARILY MADE ON BEHALF OF THE SUNY UPSTATE MEDICAL UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCIENTIFIC AND EDUCATIONAL AWARDS AND SCHOLARSHIPS FOR STUDENTS AND FACULTY AT SUNY UPSTATE MEDICAL UNIVERSITY AND HEALTHCARE SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul P Mello CPA Vice Chair | OfficerTrustee | 1 | $0 |
Rita L Reicher PHD Chair | OfficerTrustee | 1 | $0 |
Dodie Vlassis Secretary | OfficerTrustee | 1 | $0 |
Gail M Mcintyre CPA Treasurer | OfficerTrustee | 1 | $0 |
J Daniel Pluff Assistant Treasurer | OfficerTrustee | 1 | $0 |
Juli G Boeheim Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $497,915 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,117,669 |
| Noncash contributions included in lines 1a–1f | $53,378 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,615,584 |
| Total Program Service Revenue | $0 |
| Investment income | $5,714,671 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,565,556 |
| Net Income from Fundraising Events | -$30,376 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,065,894 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,167,806 |
| 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 | $9,000 |
| Fees for services: Accounting | $15,322 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $180,347 |
| Office expenses | $0 |
| Information technology | $157,717 |
| Royalties | $0 |
| Occupancy | $63,480 |
| Travel | $74,851 |
| 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 | $0 |
| All other expenses | $47,640 |
| Total functional expenses | $11,555,130 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,081,227 |
| Savings and temporary cash investments | $9,795,380 |
| 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 | $172,449 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $75,546,217 |
| Investments—other securities | $166,178,700 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $259,773,973 |
| Accounts payable and accrued expenses | $159,945 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $87,679,139 |
| 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 | $87,839,084 |
| Net assets without donor restrictions | $20,618,327 |
| Net assets with donor restrictions | $151,316,562 |
| 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 | $259,773,973 |
Grants Awarded
Over the last fiscal year, The Upstate Foundation Inc has awarded $4,783,163 in support to 89 organizations.
| Grant Recipient | Amount |
|---|---|
GOLISANO CENTER FOR SPECIAL NEEDS FUND PURPOSE: TO SUPPORT THE PURPOSE AND MISSION OF UPSTATE MEDICAL UNIVERSITY | $2,322,430 |
UMU COLLEGE OF MEDICINE SUPPORT FUND PURPOSE: TO SUPPORT THE PURPOSE AND MISSION OF UPSTATE MEDICAL UNIVERSITY | $373,552 |
OASIS PROGRAM FUND PURPOSE: TO SUPPORT THE PURPOSE AND MISSION OF UPSTATE MEDICAL UNIVERSITY | $183,117 |
GOLISANO CHILDREN'S HOSPITALCMN- 2018 PURPOSE: TO SUPPORT THE PURPOSE AND MISSION OF UPSTATE MEDICAL UNIVERSITY | $144,512 |
HSC FOUNDATION SPECIAL GIFTS FUND PURPOSE: TO SUPPORT THE PURPOSE AND MISSION OF UPSTATE MEDICAL UNIVERSITY | $143,215 |
CHILD AND ADOLESCENT PSYCHIATRY SERVICES FUND PURPOSE: TO SUPPORT THE PURPOSE AND MISSION OF UPSTATE MEDICAL UNIVERSITY | $90,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Upstate Foundation Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Jim And Juli Boeheim Foundation Inc Fayetteville, NY PURPOSE: We typically have 3 Psychiatric NP trainees per year; our goal is 6 trainees. The start-up infrastructure and initial clinical losses per new trainee can be daunting. Once a critical mass of clinicians who stay here to practice and teach is reached, it is expected to be a self-sustainable system, spanning from nursing (RN} school, to advanced practice (NP} training, to the psychiatric fellowship, and into faculty-based clinical practice with a self-sustaining revenue stream within a few years. The Jim & Juli Boeheim Foundation will receive permanent recognition by naming a second floor Child Clinic Consult Room in the Psychiatry & Behavioral Sciences TU4 building on the Upstate campus as well as permanent recognition on the Donor Wall of Honor. | $25,000 |
Endowment Analysis
| Beg. Balance | $139,642,248 |
| Earnings | $15,366,067 |
| Admin Expense | $2,466,937 |
| Net Contributions | $8,339,076 |
| Other Expense | $7,821,046 |
| Ending Balance | $153,059,408 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Renewal Team Inc Hartford, CT | $32,612,649 | $50,680,669 |
Valley Opportunity Council Inc Chicopee, MA | $22,850,959 | $49,579,644 |
Jewish Community Council Of Greater Coney Island Inc Brooklyn, NY | $14,065,313 | $45,116,234 |
Elrc4kids Inc Greensburg, PA | $6,335,708 | $42,009,228 |
Greater Bergen Community Action Inc Hackensack, NJ | $31,538,152 | $42,343,270 |
Ezras Choilim Health Center Inc Monroe, NY | $23,435,027 | $45,592,726 |
Metropolitan New York Coordinating Council On Jewish Poverty New York, NY | $56,489,415 | $47,513,181 |
Puerto Rican Family Institute Inc New York, NY | $23,494,373 | $43,970,504 |
Worcester Community Action Council Inc Worcester, MA | $8,882,298 | $41,343,806 |
Educational Alliance Inc New York, NY | $44,753,122 | $39,086,207 |
Catholic Charitable Bureau Of The Archdiocese Of Boston Inc South Boston, MA | $52,520,056 | $42,947,634 |
Catholic Charities- Diocese Of Metuchen Perth Amboy, NJ | $28,793,391 | $35,804,723 |