Syracuse Health Science Center Medical Alumni Foundation Inc
- Assets
- $50.6m
- Revenue
- $25.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Syracuse, NY
- Founding
- 11/1965
- Data as of
- 09/2022
- EIN
- 16-6038703
Organization Overview
Syracuse Health Science Center Medical Alumni Foundation Inc is located in Syracuse, NY. The organization was established in 1965. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, 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. Syracuse Health Science Center Medical Alumni 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 09/2022, Syracuse Health Science Center Medical Alumni Foundation Inc generated $25.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 41.4% each year . All expenses for the organization totaled $2.2m during the year ending 09/2022. While expenses have increased by 8.3% 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 2017, Syracuse Health Science Center Medical Alumni Foundation Inc has awarded 21 individual grants totaling $7,073,287. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MEDICAL ALUMNI FOUNDATION'S PURPOSE IS TO SUPPORT THE GOALS OF THE UPSTATE MEDICAL UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SYRACUSE HEALTH SCIENCE CENTER MEDICAL ALUMNI FOUNDATION, INC. (THE FOUNDATION) IS A NEW YORK STATE NONPROFIT CORPORATION ESTABLISHED TO RECEIVE AND ADMINISTER GIFTS AND BEQUESTS. THE MISSION OF THE FOUNDATION IS CARRIED OUT BY AWARDING SCHOLARSHIPS TO CURRENT AND PROSPECTIVE STUDENTS OF SUNY UPSTATE MEDICAL UNIVERSITY, GRANTING ENDOWMENTS AS WELL AS SUPPORTING ACTIVITIES AND STUDENT PROGRAMS THROUGH VARIOUS GIFTS AND CONTRIBUTIONS DONATED THROUGHOUT THE YEAR FOR THE BENEFIT OF SUNY UPSTATE MEDICAL UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry S Charlamb President | OfficerTrustee | 1 | $0 |
Barbara A Morisseau Vice President | OfficerTrustee | 1 | $0 |
Thomas A Bersani Treasurer | OfficerTrustee | 1 | $0 |
Danielle A Katz Secretary | OfficerTrustee | 1 | $0 |
Paul E Norcross Executive Director | Officer | 40 | $0 |
Dennis D Daly Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $45,625 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,532,045 |
| Noncash contributions included in lines 1a–1f | $78,497 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,577,670 |
| Total Program Service Revenue | $0 |
| Investment income | $687,599 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,480,851 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,764,011 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,383,953 |
| 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 | $5,333 |
| Fees for services: Accounting | $16,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $187,925 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,851 |
| Office expenses | $148,723 |
| 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 | $7,407 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,773 |
| All other expenses | $0 |
| Total functional expenses | $2,235,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,216 |
| Savings and temporary cash investments | $216,885 |
| Pledges and grants receivable | $19,222,120 |
| 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 | $107,217 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $30,089,332 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $973,995 |
| Total assets | $50,640,765 |
| Accounts payable and accrued expenses | $23,596 |
| 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 | $1,127,991 |
| Total liabilities | $1,151,587 |
| Net assets without donor restrictions | $4,923,873 |
| Net assets with donor restrictions | $44,565,305 |
| 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 | $50,640,765 |
Grants Awarded
Over the last fiscal year, Syracuse Health Science Center Medical Alumni Foundation Inc has awarded $1,383,953 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SUNY UPSTATE MEDICAL UNIVERSITY PURPOSE: SCHOLARSHIPS AND GRANTS FOR THE BENEFIT OF SUNY UPSTATE MEDICAL UNIVERSITY, ITS FACULTY, AND STUDENTS. | $1,150,553 |
UNIVERSITY SURGICAL ASSOCIATES PURPOSE: PROFESSORSHIP AND CHAIR SUPPORT FOR THE BENEFIT OF SUNY UPSTATE MEDICAL UNIVERSITY, ITS FACULTY, AND STUDENTS. | $137,000 |
PEDIATRIC SERVICES GROUP LLP PURPOSE: PROFESSORSHIP FOR THE BENEFIT OF SUNY UPSTATE MEDICAL UNIVERSITY, ITS FACULTY, AND STUDENTS. | $96,400 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Syracuse Health Science Center Medical Alumni Foundation Inc has recieved totaling $205,355.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $190,155 |
Central New York Community Foundation Inc Syracuse, NY PURPOSE: SCHOLARSHIP SUPPORT | $15,200 |
Endowment Analysis
| Beg. Balance | $28,772,415 |
| Earnings | -$3,702,727 |
| Admin Expense | $285,888 |
| Net Contributions | $23,048,305 |
| Other Expense | -$51,779 |
| Grants | $1,193,372 |
| Ending Balance | $46,690,512 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Coast Guard Academy Alumni Association Inc New London, CT | $53,324,091 | $18,444,264 |
Penn State Alumni Association University Park, PA | $100,014,631 | $13,658,978 |
Baseball Assistance Team Inc New York, NY | $16,328,027 | $4,707,517 |
United States Merchant Marine Academy Alumni Association And Fou Kings Point, NY | $55,826,934 | $8,053,233 |
Alumni Association Of New Jersey Institute Of Technology Paramus, NJ | $0 | $306,119 |
Alumni Of The Rabbinical College Knesseth Israel Of Slabodka Kowno Brooklyn, NY | $341,064 | $3,063,744 |
The Bronx High School Of Science Alumni Foundation Inc Bronx, NY | $31,172,697 | $12,367,161 |
Bernard M Baruch College Association Inc New York, NY | $9,740,278 | $4,039,630 |
Wellesley College Alumnae Association Wellesley, MA | $21,826,732 | $2,808,656 |
Yale Alumni Publications Inc New Haven, CT | $28,715 | $87,332 |
Seoul National University Foundation Inc Fort Lee, NJ | $6,845,557 | $3,716,699 |
Syracuse Health Science Center Medical Alumni Foundation Inc Syracuse, NY | $50,640,765 | $25,764,011 |