Cornell University Foundation
- Assets
- $167.2m
- Revenue
- $18.3m
- Investments
- $158.5m
- Employees
- 0
- Location
- Ithaca, NY
- Founding
- 03/1988
- Data as of
- 06/2022
- EIN
- 22-2848738
Organization Overview
Cornell University Foundation is located in Ithaca, NY. The organization was established in 1988. According to its NTEE Classification (B43) the organization is classified as: Universities, 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. Cornell University Foundation 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 06/2022, Cornell University Foundation generated $18.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (22.3%) each year. All expenses for the organization totaled $28.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Cornell University Foundation has awarded 344 individual grants totaling $108,108,186. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A SERVICE FOR CORNELL ALUMNI AND FRIENDS WHO WISH TO MAKE CHARITABLE GIFTS THROUGH THE STRUCTURE OF A DONOR-ADVISED FUND.
Describe the Organization's Program Activity:
THE ORGANIZATION PROVIDES ALLOCATIONS TO CORNELL UNIVERSITY AND OTHER CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nelson Schaenen Jr Trustee | Trustee | 0.3 | $0 |
Wendell L Bryce Trustee | Trustee | 0.3 | $0 |
David C Costine Trustee | Trustee | 0.3 | $0 |
Tracy Cary Trustee | Trustee | 0.3 | $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 | $17,339,584 |
| Noncash contributions included in lines 1a–1f | $15,757,627 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,339,584 |
| Total Program Service Revenue | $0 |
| Investment income | $795,289 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $194,364 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,329,237 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $27,334,298 |
| Grants and other assistance to domestic individuals. | $4,540 |
| 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 | $0 |
| Fees for services: Accounting | $17,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $873,604 |
| Fees for services: Other | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $28,449,495 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $340,247 |
| 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 | $11,720 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,350,429 |
| Investments—other securities | $158,458,758 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,024,377 |
| Total assets | $167,185,531 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,326,800 |
| 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 | $1,326,800 |
| Net assets without donor restrictions | $165,858,731 |
| Net assets with donor restrictions | $0 |
| 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 | $167,185,531 |
Grants Awarded
Over the last fiscal year, Cornell University Foundation has awarded $27,008,599 in support to 106 organizations.
| Grant Recipient | Amount |
|---|---|
CORNELL UNIVERSITY PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $18,024,112 |
FIDLIETY CHARITABLE PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $866,972 |
CHAMBER MUSIC SOCIETY OF LINCOLN CENTER PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $1,000,000 |
THE MASSACHUSETTS GENERAL HOSPITAL PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $650,000 |
SARATOGA PERFORMING ARTS CENTER PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $350,000 |
ELLIS HOSPITAL FOUNDATION PURPOSE: IN FURTHERANCE OF THE ORGANIZATION'S TAX EXEMPT MISSION | $300,000 |