Erie Community College Foundation Inc
- Assets
- $7.0m
- Revenue
- $941.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Buffalo, NY
- Founding
- 11/1988
- Data as of
- 08/2021
- EIN
- 16-1320337
Organization Overview
Erie Community College Foundation Inc is located in Buffalo, NY. The organization was established in 1988. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 08/2021, Erie Community College Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Erie Community 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 08/2021, Erie Community College Foundation Inc generated $941.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $597.9k during the year ending 08/2021. While expenses have increased by 1.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ECC FOUNDATION RAISES FUNDS FOR SCHOLARSHIPS, CAPITAL PROJECTS, FACULTY ENRICHMENT PROGRAMS & INNOVATIVE EDUCATIONAL & WORKFORCE DEVELOPMENT INITIATIVES. THE FOUNDATION SUPPORTS ALUMNI/FORMER STUDENTS THROUGH SPECIAL EVENTS, REUNIONS AND PROF. DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS TO STUDENTS OF ERIE COMMUNITY COLLEGE
PROVIDE SUPPORT FOR COLLEGE FACILITIES IMPROVEMENTS, SERVICES, AND SUPPLIES
PROVIDE SUPPORT TO THE COLLEGE FOR STUDENT ACTIVITIES
PROVIDE SCHOLARSHIPS TO STUDENTS OF ERIE COMMUNITY COLLEGE
PROVIDE SUPPORT FOR COLLEGE FACILITIES IMPROVEMENTS, SERVICES, AND SUPPLIES
PROVIDE SUPPORT TO THE COLLEGE FOR STUDENT ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Kincaid Treasurer | Officer | 1 | $0 |
Althea Luehrsen Secretary | Officer | 1 | $0 |
Christopher Musialowski Executive Dir. | Officer | 40 | $0 |
Paul Lamanna Vice Chair | Officer | 1 | $0 |
Mark Gaulin Chairman | Officer | 1 | $0 |
Scott Stenclik Director | Trustee | 1 | $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 | $410,552 |
| Noncash contributions included in lines 1a–1f | $6,592 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $410,552 |
| Total Program Service Revenue | $1,662 |
| Investment income | $56,832 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $406,538 |
| Net Income from Fundraising Events | $31,948 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $941,532 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $229,997 |
| 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 | $162,752 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,163 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $275 |
| Fees for services: Accounting | $17,108 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,055 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,843 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,364 |
| All other expenses | $39,439 |
| Total functional expenses | $597,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,694 |
| Savings and temporary cash investments | $308,638 |
| Pledges and grants receivable | $118,454 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,425,938 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,990,724 |
| Accounts payable and accrued expenses | $7,891 |
| 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 | $7,891 |
| Net assets without donor restrictions | $2,858,493 |
| Net assets with donor restrictions | $4,124,340 |
| 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 | $6,990,724 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Erie Community College Foundation Inc has recieved totaling $501,487.
| Awarding Organization | Amount |
|---|---|
Community Foundation For Greater Buffalo Inc Buffalo, NY PURPOSE: YOUTH EMPLOYMENT HUB | $231,400 |
John R Oishei Foundation Buffalo, NY PURPOSE: STRATEGIC REALIGNMENT OF SUNY ERIE ACADEMIC PROGRAMING & FACILITY UTILIZATION | $140,000 |
John R Oishei Foundation Buffalo, NY PURPOSE: THOMAS & LAURIE BAKER MEMORIAL SCHOLARSHIP PROGRAM | $50,000 |
The Ralph C Wilson Jr Foundation Detroit, MI PURPOSE: TO SUPPORT A COMPREHENSIVE STRATEGIC REALIGNMENT ASSESSMENT AT SUNY ERIE COMMUNITY COLLEGE | $40,000 |
Community Foundation For Greater Buffalo Inc Buffalo, NY PURPOSE: CONSULTANT FOR STRATEGIC REALIGNMENT | $25,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $2,279,817 |
| Earnings | $376,427 |
| Net Contributions | $70,614 |
| Other Expense | $108,560 |
| Ending Balance | $2,618,298 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Raritan Valley Community College Dir Of Budget & Finance Office Somerville, NJ | $103,363,745 | $84,313,623 |
Dean College Franklin, MA | $117,492,231 | $77,417,313 |
Becker College Worcester, MA | $39,650,846 | $64,626,574 |
Mount Aloysius College Cresson, PA | $187,396,444 | $41,178,883 |
Landmark College Inc Putney, VT | $77,090,465 | $38,969,151 |
Lackawanna College Scranton, PA | $71,721,039 | $37,550,402 |
Keystone College La Plume, PA | $35,973,065 | $32,307,027 |
Mitchell College New London, CT | $42,145,371 | $31,379,437 |
Hilbert College Hamburg, NY | $32,366,281 | $25,027,344 |
Trocaire College Buffalo, NY | $48,308,094 | $27,715,968 |
Laboure College Milton, MA | $45,194,532 | $27,640,427 |
Maria College Albany, NY | $31,705,663 | $17,053,225 |