Potsdam College Foundation Inc
- Assets
- $55.9m
- Revenue
- $4.3m
- Investments
- $704.5k
- Employees
- 0
- Location
- Potsdam, NY
- Founding
- 12/1970
- Data as of
- 06/2023
- EIN
- 23-7088021
Organization Overview
Potsdam College Foundation Inc is located in Potsdam, NY. The organization was established in 1970. 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. Potsdam 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 06/2023, Potsdam College Foundation Inc generated $4.3m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $3.6m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE POTSDAM COLLEGE FOUNDATION IS TO SECURE AND MANAGE PRIVATE FINANCIAL SUPPORT AND OTHER GIFTS THAT BUILD A SUSTAINABLE FUTURE FOR SUNY POTSDAM. THE FOUNDATION IS COMMITTED TO THE COLLEGE'S GOAL TO RECRUIT AND RETAIN STUDENTS, AND ENHANCE THEIR EXPERIENCES IN AND OUT OF THE CLASSROOM. THE FOUNDATION STEWARDS ITS RESOURCES FOR THE LONG-TERM BENEFIT OF SUNY POTSDAM WHILE ALSO PROVIDING THE MAXIMUM POSSIBLE CURRENT FINANCIAL SUPPORT TO THE COLLEGE AND ITS STUDENTS, CONSISTENT WITH THE WISHES OF THE FOUNDATION'S GENEROUS DONORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE POTSDAM COLLEGE FOUNDATION IS A NON-PROFIT CORPORATION, ESTABLISHED IN 1968 TO STEWARD THE CONTINUED GROWTH OF PRIVATE GIVING IN SUPPORT OF SUNY POTSDAM. THE FOUNDATION IS GOVERNED BY A VOLUNTEER BOARD OF TRUSTEES WHICH INCLUDES REPRESENTATION FROM SUNY POTSDAM'S ALUMNI, FACULTY, FACULTY EMERITI AND STUDENTS, AS WELL AS THE REGIONAL AND NATIONAL COMMUNITY. GIFTS TO THE FOUNDATION ARE USED TO PROVIDE ANNUAL SUPPORT TO MEET ONGOING CAMPUS NEEDS AND TO ESTABLISH PERMANENT ENDOWMENTS TO SUPPORT SUCH THINGS AS STUDENT SCHOLARSHIPS AND PROGRAMS. IN ADDITION, THE FOUNDATION OWNS ART OBJECTS AND CULTURAL ARTIFACTS THAT ARE USED FOR TEACHING AND FOR DISPLAY ON THE CAMPUS. THE TOTAL ASSETS MANAGED BY THE FOUNDATION EXCEED $54.998 MILLION, INCLUDING AN ENDOWMENT COMPRISED OF GIFTS FROM BOTH INDIVIDUALS AND INVESTMENT RETURN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Kellogg Current President | OfficerTrustee | 1.2 | $0 |
Christine Haile Treasurer | OfficerTrustee | 1.2 | $0 |
Justin Sipher Secretary | OfficerTrustee | 1.2 | $0 |
James Berriman Trustee | Trustee | 0.8 | $0 |
Lynne Boles Trustee | Trustee | 0.8 | $0 |
Rebekah Covell Trustee | Trustee | 0.8 | $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 | $2,297,266 |
| Noncash contributions included in lines 1a–1f | $290,037 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,297,266 |
| Total Program Service Revenue | $402,107 |
| Investment income | $1,355,135 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $219,595 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,274,103 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,038,927 |
| Grants and other assistance to domestic individuals. | $1,069,928 |
| 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 | $2,510 |
| Fees for services: Accounting | $20,370 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $37,017 |
| Fees for services: Investment Management | $25,000 |
| 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 | $97,725 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,632,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,893 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $529,834 |
| 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 | $0 |
| Net Land, buildings, and equipment | $278,032 |
| Investments—publicly traded securities | $54,303,209 |
| Investments—other securities | $704,535 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,906 |
| Total assets | $55,931,409 |
| Accounts payable and accrued expenses | $0 |
| 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 | $38,003 |
| Total liabilities | $38,003 |
| Net assets without donor restrictions | $5,752,850 |
| Net assets with donor restrictions | $50,140,556 |
| 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 | $55,931,409 |
Grants Awarded
Over the last fiscal year, Potsdam College Foundation Inc has awarded $3,920,506 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
STATE UNIVERSITY OF NEW YORK (SUNY POTSDAM) PURPOSE: PROGRAMS, CAMPUS IMPROVEMENTS, DEVELOPMENT, STUDENT SCHOLARSHIPS | $3,915,506 |
CANTON POTSDAM HOSPITAL PURPOSE: ANNUAL SUPPORT FOR SERVICES PROVIDED TO CAMPUS/STUDENTS | $5,000 |