Foundation Of The State University Of New York At Binghamton Inc
- Assets
- $468.8m
- Revenue
- $82.8m
- Investments
- $75.2m
- Employees
- 0
- Location
- Binghamton, NY
- Founding
- 03/1958
- Data as of
- 06/2024
- EIN
- 16-6053710
Organization Overview
Foundation Of The State University Of New York At Binghamton Inc is located in Binghamton, NY. The organization was established in 1958. 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. Foundation Of The State University Of New York At Binghamton 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 06/2024, Foundation Of The State University Of New York At Binghamton Inc generated $82.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $111.8m during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Foundation Of The State University Of New York At Binghamton Inc has awarded 21 individual grants totaling $260,016,340. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION WAS ESTABLISHED TO ACCEPT AND ENCOURAGE GIFTS TO THE FOUNDATION AND TO ADVANCE THE WELFARE AND DEVELOPMENT OF THE UNIVERSITY TO MAKE GRANTS OF FINANCIAL ASSISTANCE TO THE UNIVERSITY AND ITS FACULTY AND STUDENTS; TO RECEIVE, HOLD AND ADMINISTER SUCH GIFTS TO SERVICE THE PREVIOUSLY STATED PURPOSE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF ACTIVITIES OF THE UNIVERSITY BY MEANS OF SCHOLARSHIPS AND GRANTS TO QUALIFYING STUDENTS ($6,158,947), FINANCIAL ASSISTANCE TO THE PROGRAMS AND ACTIVITIES OF THE FACULTY AND STUDENTS OF THE UNIVERSITY ($99,597,908), AND ALLOCATED ADMINISTRATIVE EXPENSES FOR THESE PROGRAMS ($1,320,490).
BINGHAMTON UNIVERSITY FORUM IS A MEMBER ONLY GROUP FORMED BY THE FOUNDATION TO PROMOTE COMMUNITY RELATIONS AND ENCOURAGE PRIVATE SUPPORT OF THE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert Nocciolino Director | Trustee | 0.3 | $0 |
Alex Huppe Director | Trustee | 0.3 | $0 |
Andrew Bonzani Director | Trustee | 0.3 | $0 |
Anita Borkenstein Secretary | OfficerTrustee | 0.3 | $0 |
Bai Lee Director | Trustee | 0.3 | $0 |
Carolyn Mancini Director | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mercer Investments Llc Investment Consultant | 6/29/24 | $129,976 |
Wilson-bennett Technology Inc Fundraising Consultant | 6/29/24 | $303,792 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $21,380,181 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,635,769 |
| Noncash contributions included in lines 1a–1f | $1,499,690 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,015,950 |
| Total Program Service Revenue | $74,425 |
| Investment income | $15,590,789 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,041,435 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $82,839,756 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $99,597,908 |
| Grants and other assistance to domestic individuals. | $6,158,947 |
| 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 | $2,265,083 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,502 |
| Fees for services: Accounting | $26,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $322,952 |
| Fees for services: Investment Management | $1,043,855 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $85,518 |
| Information technology | $213,568 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $54,505 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,584 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,855 |
| Insurance | $57,905 |
| All other expenses | $0 |
| Total functional expenses | $111,780,813 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,395,049 |
| Savings and temporary cash investments | $4,800,570 |
| Pledges and grants receivable | $13,381,210 |
| Accounts receivable, net | $5,691,440 |
| 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 | $154,691 |
| Net Land, buildings, and equipment | $22,336,592 |
| Investments—publicly traded securities | $327,997,213 |
| Investments—other securities | $75,226,319 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,793,588 |
| Total assets | $468,776,672 |
| Accounts payable and accrued expenses | $4,057,016 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $11,824,003 |
| 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 | $3,735,367 |
| Total liabilities | $19,616,386 |
| Net assets without donor restrictions | $195,960,663 |
| Net assets with donor restrictions | $253,199,623 |
| 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 | $468,776,672 |
Grants Awarded
Over the last fiscal year, Foundation Of The State University Of New York At Binghamton Inc has awarded $99,597,908 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
STATE UNIVERSITY OF NEW YORK AT BINGHAMTON PURPOSE: FACULTY AND STUDENT PROGRAM SUPPORT | $15,123,872 |
STATE UNIVERSITY OF NEW YORK AT BINGHAMTON ALUMNI ASSOCIATION PURPOSE: SUPPORT OF ALUMNI OPERATIONS | $290,000 |
GREATER HORIZONS PURPOSE: UNRESTRICTED SUPPORT | $84,184,036 |