Westchester Community College Foundation Inc
- Assets
- $61.7m
- Revenue
- $7.5m
- Investments
- $5.4m
- Employees
- 9
- Location
- Valhalla, NY
- Founding
- 06/1970
- Data as of
- 08/2022
- EIN
- 23-7050397
Organization Overview
Westchester Community College Foundation Inc is located in Valhalla, NY. The organization was established in 1970. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 08/2022, Westchester Community College Foundation Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westchester Community 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 08/2022, Westchester Community College Foundation Inc generated $7.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $6.2m during the year ending 08/2022. While expenses have increased by 4.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SINCE ITS FOUNDING IN 1969, THE WESTCHESTER COMMUNITY COLLEGE FOUNDATION (THE "FOUNDATION") HAS RAISED OVER $100 MILLION TO MEET WESTCHESTER COMMUNITY COLLEGE ("COLLEGE") AND STUDENT NEEDS NOT COVERED BY TUITION AND PUBLIC SUPPORT. FROM A MODEST BEGINNING RAISING FUNDS FOR STUDENT SCHOLARSHIPS, THE FOUNDATION, COMPLETING ITS 53RD YEAR IN 2022, HAS EXPANDED TO PROVIDE FUNDING FOR CAPITAL PROJECTS, FACULTY DEVELOPMENT, EMERGENCY STUDENT AID, WORKFORCE DEVELOPMENT, AND NEW AND INNOVATIVE PROGRAM INITIATIVES TO PROMOTE STUDENT SUCCESS AND HELP THE COLLEGE PROVIDE ATTAINABLE, AFFORDABLE, AND QUALITY EDUCATION. MONETARY SUPPORT IS IMPORTANT, AND THE FOUNDATION IS ALSO GRATEFUL TO THE MANY VOLUNTEERS AND ALUMNI WHO DONATE THEIR TIME AND EXPERTISE TO PERSONALLY ASSIST OUR STUDENTS THROUGH THEIR PROFESSIONAL EXPERIENCE AND DEDICATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Mitzner CFO Through August 2021 | 35 | $147,631 | |
Jeff Goldberg CFO | Officer | 35 | $57,142 |
Thomas T Lee President | OfficerTrustee | 3 | $0 |
Cornelia Beshar Spring Vice President | OfficerTrustee | 3 | $0 |
George Lindsay Secretary | OfficerTrustee | 3 | $0 |
Joanne Landau Chairperson | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $107,436 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,283,909 |
| Noncash contributions included in lines 1a–1f | $15,602 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,391,345 |
| Total Program Service Revenue | $0 |
| Investment income | $1,279,024 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $212,126 |
| Net Gain/Loss on Asset Sales | $1,633,128 |
| Net Income from Fundraising Events | $14,610 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,530,233 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,348,743 |
| Grants and other assistance to domestic individuals. | $2,514,934 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $161,985 |
| Compensation of current officers, directors, key employees. | $64,794 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $399,743 |
| Pension plan accruals and contributions | $76,637 |
| Other employee benefits | $22,849 |
| Payroll taxes | $53,253 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $427,262 |
| Fees for services: Other | $65,298 |
| Advertising and promotion | $0 |
| Office expenses | $10,665 |
| Information technology | $23,077 |
| 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 | $7,368 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,997 |
| Insurance | $15,442 |
| All other expenses | $1,615 |
| Total functional expenses | $6,249,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,350 |
| Savings and temporary cash investments | $7,676,547 |
| Pledges and grants receivable | $393,935 |
| Accounts receivable, net | $83,191 |
| 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 | $28,053 |
| Net Land, buildings, and equipment | $5,548 |
| Investments—publicly traded securities | $48,110,594 |
| Investments—other securities | $5,387,891 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $61,692,109 |
| Accounts payable and accrued expenses | $1,572,779 |
| Grants payable | $0 |
| Deferred revenue | $226,118 |
| 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 | $59,238 |
| Total liabilities | $1,858,135 |
| Net assets without donor restrictions | $8,203,049 |
| Net assets with donor restrictions | $51,630,925 |
| 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 | $61,692,109 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Westchester Community College Foundation Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
John T And Jane A Wiederhold Foundation Torrington, CT PURPOSE: SCHOLARSHIP FOR VETERINARY TECHNOLOGY STUDENTS | $10,000 |
George E & Kathleen E Austin Foundation Bronxville, NY PURPOSE: TO FURTHER DONEE'S EXEMPT PURPOSES | $5,000 |
Endowment Analysis
| Beg. Balance | $43,114,953 |
| Earnings | -$9,721,356 |
| Net Contributions | $836,030 |
| Other Expense | $677,732 |
| Grants | $1,115,176 |
| Ending Balance | $32,436,719 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lancaster County Community Foundation Lancaster, PA | $92,463,036 | $19,491,842 |
Community Foundation Of Western Massachusetts Springfield, MA | $263,677,089 | $50,890,910 |
Essex County Community Foundation Incorporated Danvers, MA | $116,029,343 | $28,414,247 |
Community Foundations Of The Hudson Valley Poughkeepsie, NY | $96,104,226 | $20,607,422 |
The Berkshire Taconic Community Foundation Inc Sheffield, MA | $235,546,714 | $26,961,716 |
Greater Worcester Community Foundation Inc Worcester, MA | $200,476,252 | $22,847,423 |
Community Foundation Of Herkimer And Oneida Counties Inc Utica, NY | $207,402,752 | $30,922,448 |
Community Foundation Of Greater Johnstown Johnstown, PA | $89,313,800 | $19,729,908 |
Community Foundation Of Eastern Connecticut New London, CT | $123,416,332 | $10,480,728 |
Southcoast Community Foundation Inc New Bedford, MA | $53,147,669 | $13,725,688 |
The Community Foundation For The Greater Capital Region Inc Albany, NY | $120,227,075 | $24,885,752 |
Connecticut Community Foundation Inc Waterbury, CT | $154,014,275 | $11,174,882 |