Buffalo State College Foundation Inc
- Assets
- $97.0m
- Revenue
- $15.6m
- Investments
- $81.4m
- Employees
- 54
- Location
- Buffalo, NY
- Founding
- 02/1966
- Data as of
- 06/2021
- EIN
- 16-6037117
Organization Overview
Buffalo State College Foundation Inc is located in Buffalo, NY. The organization was established in 1966. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, Buffalo State College Foundation Inc employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Buffalo State 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 06/2021, Buffalo State College Foundation Inc generated $15.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 28.6% each year . All expenses for the organization totaled $3.8m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT SERVICES TO THE BUFFALO STATE UNIVERSITY COLLEGE AT BUFFALO AND ITS STUDENTS.
Describe the Organization's Program Activity:
PROVIDING FINANCIAL ASSISTANCE TO THE COLLEGE AND ITS AFFILIATED ORGANIZATIONS, FACULTY, STAFF AND STUDENTS, INCLUDING, BUT NOT LIMITED TO, SCHOLARSHIPS, FELLOWSHIPS, AND LOANS TO STUDENTS; SUPPORTING RESEARCH PROGRAMS, CONFERENCES, SEMINARS, ART EXHIBITIONS AND CULTURAL EVENTS, ACQUIRING EQUIPMENT FOR EDUCATIONAL AND RESEARCH PROJECTS, LIBRARY HOLDINGS, ART-RELATED AND LITERARY COLLECTIONS, ACADEMIC CHAIRS, ATHLETIC PROGRAMS, THE BUFFALO STATE COLLEGE ALUMNI ASSOCIATION, COLLEGE-COMMUNITY PROGRAMS, FACULTY AND STAFF TRAVEL, COLLEGE-RELATED PUBLICATIONS, CAMPUS BEAUTIFICATION; AND PROVIDING EXPENSE FUNDS FOR COLLEGE OFFICIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Bonitatibus Chair | OfficerTrustee | 1 | $0 |
Nicholas A Sinatra Vice Chair | OfficerTrustee | 1 | $0 |
Judy L Elliott Treasurer | OfficerTrustee | 1 | $0 |
William H Gurney Secretary | OfficerTrustee | 1 | $0 |
James M Finnerty Executive Director | OfficerTrustee | 1 | $0 |
C Teo Balbach Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $219,913 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,209,390 |
| Noncash contributions included in lines 1a–1f | $1,222,943 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,429,303 |
| Total Program Service Revenue | $0 |
| Investment income | $596,845 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,052,137 |
| Net Income from Fundraising Events | -$25,154 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,645,552 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,907,986 |
| 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 | $123,141 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,826 |
| Payroll taxes | $1,762 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,462 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $99,819 |
| Fees for services: Other | $659,590 |
| Advertising and promotion | $131,399 |
| Office expenses | $61,993 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,611 |
| Travel | $7,952 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,268 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $45,046 |
| All other expenses | $126,966 |
| Total functional expenses | $3,832,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $597,300 |
| Savings and temporary cash investments | $545,729 |
| Pledges and grants receivable | $10,016,558 |
| Accounts receivable, net | $183,780 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $184,673 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,992 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $81,354,031 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,045,225 |
| Total assets | $96,950,288 |
| Accounts payable and accrued expenses | $600,875 |
| 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 | $1,720,186 |
| Total liabilities | $2,321,061 |
| Net assets without donor restrictions | $16,614,699 |
| Net assets with donor restrictions | $78,014,528 |
| 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 | $96,950,288 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Buffalo State College Foundation Inc has recieved totaling $2,953,789.
| Awarding Organization | Amount |
|---|---|
The Ralph C Wilson Jr Foundation Detroit, MI PURPOSE: TO SUPPORT THE DART STREET STUDY TO EVALUATE THE OPPORTUNITY TO CREATE RECREATIONAL OPPORTUNITIES, CONNECTIONS TO TRAILS, CREEK ACCESS, AND EXPAND EDUCATIONAL EXPERIENCES OF STUDENTS AND TO SUPPORT THE RENOVATION OF THE GREAT LAKES CENTER STORAGE BUILDING ON THE BLACK ROCK CANAL. | $1,449,500 |
The Ralph C Wilson Jr Foundation Detroit, MI PURPOSE: TO SUPPORT THE DART STREET STUDY TO EVALUATE THE OPPORTUNITY TO CREATE RECREATIONAL OPPORTUNITIES, CONNECTIONS TO TRAILS, CREEK ACCESS, AND EXPAND EDUCATIONAL EXPERIENCES OF STUDENTS. | $449,500 |
Community Foundation For Greater Buffalo Inc Buffalo, NY PURPOSE: UNRESTRICTED USE; MADELINE DAVIS LGBT ARCHIVES OF WNY; FOOD PANTRY FUND; STUDENTS PURSUING CAREER IN VOCATIONAL EDUCATION; NEXT LEVEL BUSINESS PRACTICES FOR MWBE AND DISADVANTAGED BUSINESS OWNERS; BLACK FASHION FUND; SCHOLARSHIPS; IN HONOR OF | $361,958 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $320,500 |
Stockman Fam Foundation Tr New York, NY PURPOSE: GENERAL OPERATIONS | $187,500 |
Suny Impact Foundation Inc New York, NY PURPOSE: NYS TAX CREDIT DONATIONS: VARIOUS | $142,231 |
Endowment Analysis
| Beg. Balance | $54,159,907 |
| Earnings | $14,993,797 |
| Net Contributions | $9,866,070 |
| Other Expense | $1,022,499 |
| Grants | $924,640 |
| Ending Balance | $77,072,635 |
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 |