The Baruch College Fund
- Assets
- $295.7m
- Revenue
- $67.3m
- Investments
- $105.9m
- Employees
- 536
- Location
- New York, NY
- Founding
- 11/2015
- Data as of
- 06/2021
- EIN
- 23-7039817
Organization Overview
The Baruch College Fund is located in New York, NY. The organization was established in 2015. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, Baruch College Fund employed 536 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baruch College Fund 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, Baruch College Fund generated $67.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.7% each year . All expenses for the organization totaled $15.3m during the year ending 06/2021. While expenses have increased by 0.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND ENGAGES IN GENERATING, ENCOURAGING & PROMOTING THE EDUCATIONAL WELFARE (SEE SCHEDULE O)OF THE STUDENTS OF THE BERNARD M. BARUCH COLLEGE OF THE CITY UNIVERSITY OF NEW YORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND SUPPORTS ACTIVITIES THROUGH SCHOLARSHIPS AND AWARDS AND GRANTS TO THE BERNARD M. BARUCH COLLEGE OF THE CITY UNIVERSITY OF NEW YORK ("THE COLLEGE") FOR VARIOUS EDUCATIONAL PURPOSES SUCH AS THE SUPPORT OF THE COLLEGE'S THEATER, PUBLICATIONS, FACULTY, ART GALLERY, AND STUDENT SERVICES. STUDENT SERVICES INCLUDE ACTIVITIES SUCH AS THE STARR CAREER DEVELOPMENT CENTER, THE SCHWARTZ COMMUNICATION INSTITUTE, AND THE WEISSMAN CENTER FOR INTERNATIONAL BUSINESS, WHICH SERVICE THE ENTIRE STUDENT BODY. IN ADDITION TO SCHOLARSHIPS, AWARDS, AND GRANTS, THE FUND PAYS EXPENSES, INCLUDING CERTAIN COMPENSATION SUPPLEMENTS, ON BEHALF OF THE COLLEGE TO ENABLE IT TO ATTRACT AND RETAIN THE BEST TALENT TO CARRY OUT ITS EDUCATIONAL MISSION.
EITHER DIRECTLY OR INDIRECTLY (THROUGH BCF FUNDS TRANSFERRED TO THE CITY UNIVERSITY OF NEW YORK TO REDUCE STUDENT TUITION OBLIGATIONS), THE BCF PROVIDED $3.9 MILLION IN SCHOLARSHIPS AND AWARDS TO 1,651 STUDENTS IN FY 2022. ALL SCHOLARSHIP AND AWARDS RECIPIENTS ARE SELECTED BY THE COLLEGE AND APPROVED FOR AWARD BASED ON INDIVIDUAL SCHOLARSHIP AND AWARD FUND CRITERIA. AWARDS TO 504 STUDENTS INCLUDE, BUT ARE NOT LIMITED TO FUNDS DISTRIBUTED FOR STUDY ABROAD PROGRAMS, AWARDS TO RECOGNIZE ACADEMIC ACHIEVEMENT AND EMERGENCY FUNDS DISTRIBUTED BASED ON NEED DUE TO HARDSHIP. SEE SCHEDULE I FOR ADDITIONAL DETAILS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
S David Wu Pres. Of Baruch College | Trustee | 10 | $0 |
Marline Alexander Trustee | Trustee | 1 | $0 |
Robert J Aquilina Trustee | Trustee | 1 | $0 |
Helene R Banks Trustee | Trustee | 1 | $0 |
Max W Berger Chairman | OfficerTrustee | 1 | $0 |
Jason S Berman Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prime Buchholz & Associates Inc Advisory Svcs | 6/29/22 | $207,148 |
L & M Architectural Graphics Inc Architectural Svcs | 6/29/22 | $142,130 |
Future Funds Llc Plan Giving Counsel | 6/29/22 | $135,000 |
Wittkieffer Inc Executive Search | 6/29/22 | $121,473 |
Ologie Llc Marketing Svcs | 6/29/22 | $115,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,082,569 |
| Investment income | $1,550,833 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,660,783 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $67,294,185 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $620,878 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $155,873 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,829,154 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $501,670 |
| Payroll taxes | $647,392 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,863 |
| Fees for services: Accounting | $119,122 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $234,200 |
| Fees for services: Investment Management | $273,345 |
| Fees for services: Other | $184,525 |
| Advertising and promotion | $2,693 |
| Office expenses | $406,997 |
| Information technology | $99,058 |
| Royalties | $0 |
| Occupancy | $29,294 |
| Travel | $17 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,338 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $39,906 |
| All other expenses | $0 |
| Total functional expenses | $15,286,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,507,778 |
| Savings and temporary cash investments | $11,435,523 |
| Pledges and grants receivable | $16,101,127 |
| 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 | $590,204 |
| Investments—publicly traded securities | $156,380,351 |
| Investments—other securities | $105,901,440 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,774,189 |
| Total assets | $295,690,612 |
| Accounts payable and accrued expenses | $995,927 |
| 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 | $1,614,169 |
| Total liabilities | $2,610,096 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $293,080,516 |
Grants Awarded
Over the last fiscal year, The Baruch College Fund has awarded $5,415,812 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BARUCH COLLEGE-THE CITY UNIVERSITY OF NY PURPOSE: PROGRAM SUPPORT | $2,936,596 |
BARUCH COLLEGE-THE CITY UNIVERSITY OF NY PURPOSE: SCHOLARSHIPs | $2,479,216 |