Geneseo Foundation Inc
- Assets
- $44.3m
- Revenue
- $3.4m
- Investments
- $2.3m
- Employees
- 2
- Location
- Geneseo, NY
- Founding
- 07/1971
- Data as of
- 06/2022
- EIN
- 23-7104179
Organization Overview
Geneseo Foundation Inc is located in Geneseo, NY. The organization was established in 1971. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, Geneseo Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Geneseo 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 06/2022, Geneseo Foundation Inc generated $3.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $3.4m during the year ending 06/2022. 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
THE GENESEO FOUNDATION PROVIDES FINANCIAL SUPPORT, LEADERSHIP AND ADVOCACY TO THE COLLEGE COMMUNITY WHILE FOSTERING ENGAGEMENT TO ENHANCE THE UNIQUE GENESEO EXPERIENCE AND BUILD AN ENDOWMENT FOR THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GENESEO FOUNDATION PROVIDED SCHOLARSHIPS TOTALING $994,019. EXAMPLES INCLUDE MERIT SCHOLARSHIPS FOR OUTSTANDING STUDENTS, MINORITY SCHOLARSHIPS AND ASSISTANTSHIPS AND PROFESSORSHIPS.
THE GENESEO FOUNDATION PROVIDED GRANTS TOTALING $165,109. EXAMPLES INCLUDE RESEARCH AND PROFESSIONAL TRAVEL GRANTS FOR FACULTY AND STAFF AND STUDENT UNDERGRADUATE RESEARCH GRANTS.
COLLEGE ACTIVITIES WERE SUPPORTED BY THE GENESEO FOUNDATION TO ENRICH THE QUALITY OF EDUCATIONAL PROGRAMS AND CAMPUS LIFE. EXAMPLES INCLUDE PROFESSIONAL CONFERENCES/CONVENTIONS/MEETINGS, PURCHASES OF EQUIPMENT FOR CAMPUS IMPROVEMENT PROJECTS, SUPPORT FOR SPEAKERS AND GUEST LECTURERS, MEMBERSHIP FEES, PURCHASES OF PROFESSIONAL PUBLICATIONS AND PRINTING OF CAMPUS PUBLICATIONS, NEWSLETTERS AND BROCHURES, RECEPTIONS FOR LECTURERS, INTERSHIP PRESENTATIONS, FACULTY/STUDENT AWARD PROGRAMS, AND MINORITY STUDENT PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Gleason Chair | OfficerTrustee | 2 | $0 |
Robert Walley Vice Chair | OfficerTrustee | 2 | $0 |
Clare Cusack Secretary | OfficerTrustee | 2 | $0 |
Robert Murray Treasurer | OfficerTrustee | 2 | $0 |
Michael Barkman Board Member | Trustee | 1 | $0 |
Kathy Acierno Baron Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $215,088 |
| Government grants | $40,424 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,224,965 |
| Noncash contributions included in lines 1a–1f | $267,465 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,480,477 |
| Total Program Service Revenue | $263,414 |
| Investment income | $98,334 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,446,404 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,395,821 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,449 |
| Grants and other assistance to domestic individuals. | $1,344,098 |
| 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 | $56,129 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,054 |
| Payroll taxes | $1,427 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,806 |
| Fees for services: Accounting | $34,668 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $233,985 |
| 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 | $198,835 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,189 |
| Insurance | $0 |
| All other expenses | $108,426 |
| Total functional expenses | $3,405,441 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,635 |
| Savings and temporary cash investments | $54,574 |
| Pledges and grants receivable | $588,387 |
| Accounts receivable, net | $10,958 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $595,243 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $249,907 |
| Investments—publicly traded securities | $39,193,474 |
| Investments—other securities | $2,325,492 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,093,906 |
| Total assets | $44,280,576 |
| Accounts payable and accrued expenses | $228,342 |
| 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 | $38,460 |
| Total liabilities | $266,802 |
| Net assets without donor restrictions | $3,050,003 |
| Net assets with donor restrictions | $40,963,771 |
| 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 | $44,280,576 |