Cfda Foundation Inc
- Assets
- $36.2m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1974
- Data as of
- 12/2021
- EIN
- 23-7371666
Organization Overview
Cfda Foundation Inc is located in New York, NY. The organization was established in 1974. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cfda 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 12/2021, Cfda Foundation Inc generated $3.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.0%) each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Cfda Foundation Inc has awarded 408 individual grants totaling $17,888,703. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ENCOURAGE FASHION DESIGN TALENT AND ABILITY THROUGH EXHIBITIONS, AWARDS, GRANTS, SCHOLARSHIPS, OR OTHERWISE FOR NEEDY STUDENTS AND NEEDY FASHION DESIGNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL AND PROFESSIONAL DEVELOPMENT INITIATIVESTHE EDUCATIONAL INITIATIVES PROGRAM IS A PROFESSIONAL AND BUSINESS DEVELOPMENT SERVICE OF GRANTS, SCHOLARSHIPS AND AWARDS FOR DESIGN INDUSTRY STUDENTS,DESIGNERS, AND LOCAL NY FASHION MANUFACTURERS.
FASHION TARGETS BREAST CANCERLAUNCHED BY RALPH LAUREN UNDER THE LEADERSHIP OF THE COUNCIL OF FASHION DESIGNERS OF AMERICA, FTBC INITIATIVES HAVE BEEN EMBRACED BY THE WORLD'S LEADING FASHION DESIGNERS, MODELS, PHOTOGRAPHERS AND INDUSTRY PARTNERS, AND HAVE HELPED TO RAISE SIGNIFICANT AWARENESS AND MORE THAN $55M TO DATE. THE CFDA FOUNDATION WORKS WITH THE NEW YORK COMMUNITY TRUST, AND HAS DEVELOPED A FOCUSED GRANT-MAKING PROGRAM COVERING THE CRITICAL AREAS OF BREAST CANCER SCREENING, TREATMENT AND SURVIVAL.
OTHER CAMPAIGNS AND INITIATIVESTHROUGH CAMPAIGNS AND OTHER INDUSTRY INITIATIVES THE CFDA FOUNDATION MARSHALLS THE GOODWILL AND SERVICES OF EVERY ELEMENT OF THE FASHION INDUSTRY TO RAISE PUBLIC AWARENESS AND FUNDS FOR HIV/AIDS, DISASTER RELIEF AND GENERAL CAUSES, IN THE US AND INTERNATIONALLY.
50TH ANNIVERSARYA BOARD DESIGNATED ENDOWMENT TO PROVIDE RESOURCE OF MONEY TO MEET INDUSTRY NEEDS, FUND PROGRAM INITIATIVES, AND PROVIDE GENERAL SUPPORT TO THE ORGANIZATION'S OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Kolb CEO | Officer | 24.1 | $298,832 |
Casandra Diggs President | Officer | 24.1 | $223,370 |
Lisa Anne Smilor Executive Vice President | Officer | 24.1 | $184,128 |
Mark Francis Beckham VP Of Marketing | 24.1 | $126,777 | |
Sara Kozlowski Director Of Education | 24.1 | $110,478 | |
Marc Karimzadeh Director Of Communications | 24.1 | $103,426 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kerway Realty Llc Office Lease | 12/30/21 | $333,027 |
375 Park Food Llc Dba The Grill Location & Catering | 12/30/21 | $248,980 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $200,500 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,293,685 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,494,185 |
| Total Program Service Revenue | $27,061 |
| Investment income | $777,012 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $947,279 |
| Net Income from Fundraising Events | $355,302 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,600,839 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,035,245 |
| Grants and other assistance to domestic individuals. | $50,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $747,634 |
| Compensation of current officers, directors, key employees. | $63,267 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,266,274 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $194,769 |
| Payroll taxes | $127,409 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $115,427 |
| Fees for services: Accounting | $47,465 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $15,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $351,966 |
| Advertising and promotion | $0 |
| Office expenses | $98,136 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $397,262 |
| Travel | $15,161 |
| 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 | $127,005 |
| Insurance | $31,800 |
| All other expenses | $11,000 |
| Total functional expenses | $4,792,468 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $936,126 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $413,134 |
| Accounts receivable, net | $466,911 |
| 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 | $152,490 |
| Net Land, buildings, and equipment | $66,139 |
| Investments—publicly traded securities | $29,995,485 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,200,499 |
| Total assets | $36,230,784 |
| Accounts payable and accrued expenses | $456,719 |
| Grants payable | $34,900 |
| 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 | $727,272 |
| Total liabilities | $1,218,891 |
| Net assets without donor restrictions | $21,353,198 |
| Net assets with donor restrictions | $13,658,695 |
| 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 | $36,230,784 |
Grants Awarded
Over the last fiscal year, Cfda Foundation Inc has awarded $992,510 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: BUSINESS DEVELOPMENT -- COVID RELIEF | $50,000 |
New York, NY PURPOSE: PROFESSIONAL DEVELOPMENT -- SCHOLARSHIP | $50,000 |
FASHION INSTITUTE OF TECHNOLOGY FINANCIAL AID OFFICE PURPOSE: PROFESSIONAL DEVELOPMENT -- SCHOLARSHIP | $30,000 |
Philadelphia, PA PURPOSE: PROFESSIONAL DEVELOPMENT -- SCHOLARSHIP | $25,000 |
BATSHEVA HAY LLC PURPOSE: BUSINESS DEVELOPMENT -- FASHION FUND | $25,000 |
FASHION INSTITUTE OF TECHNOLOGY FINANCIAL AID OFFICE PURPOSE: PROFESSIONAL DEVELOPMENT -- SCHOLARSHIP | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Cfda Foundation Inc has recieved totaling $345,012.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $255,000 |
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $70,000 |
Kay Unger Family Foundation Inc New York, NY PURPOSE: GENERAL AND/OR EDUCATIONAL PURPOSES | $20,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Endowment Analysis
| Beg. Balance | $4,242,758 |
| Earnings | -$5,923 |
| Grants | -$51,068 |
| Ending Balance | $4,185,767 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |