Borough Of Manhattan Community College Foundation Inc
- Assets
- $24.5m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 04/1976
- Data as of
- 06/2022
- EIN
- 51-0187969
Organization Overview
Borough Of Manhattan Community College Foundation Inc is located in New York, NY. The organization was established in 1976. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Borough Of Manhattan 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 06/2022, Borough Of Manhattan Community College Foundation Inc generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $1.9m 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 MISSION OF THE BOROUGH OF MANHATTAN COMMUNITY COLLEGE FOUNDATION IS TO ACQUIRE AND STEWARD FINANCIAL RESOURCES NEEDED TO SUPPORT STUDENT SCHOLARSHIPS AND BOROUGH OF MANHATTAN COMMUNITY COLLEGE STUDENT AND FACULTY PROGRAMS BY DEVELOPING AND STRENGTHENING RELATIONSHIPS WITH PHILANTHROPICALLY INCLINED INDIVIDUALS, FOUNDATIONS, ALUMNI, GOVERNMENT, COMMUNITY ORGANIZATIONS, AND BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - THE BMCC FOUNDATION GRANTED NUMEROUS SCHOLARSHIPS AND EMERGENCY GRANTS TO BOROUGH OF MANHATTAN COMMUNITY COLLEGE STUDENTS.
THE FOUNDATION FUNDS VARIOUS PROGRAMS THAT BENEFIT STUDENTS, FACULTY AND COLLEGE COMMUNITY
THE FOUNDATION PROVIDES GRANT FUNDS TO THE BOROUGH OF MANHATTAN COMMUNITY COLLEGE TO FUND TUTORING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony J Portannese Chair | OfficerTrustee | 3 | $0 |
Aniko N Delaney Vice Chair | OfficerTrustee | 2 | $0 |
John W Sutter Secretary/treasurer | OfficerTrustee | 2 | $0 |
Karen Wilson-Stevenson COO | OfficerTrustee | 40 | $0 |
John Dunleavy Director | Trustee | 1 | $0 |
Bill Fisse Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $518,821 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,935,429 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,454,250 |
| Total Program Service Revenue | $0 |
| Investment income | $186,288 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $211,322 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,854,276 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,571,741 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,552 |
| Fees for services: Other | $63,767 |
| Advertising and promotion | $0 |
| Office expenses | $89,782 |
| 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 | $1,567 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $930 |
| All other expenses | $0 |
| Total functional expenses | $1,885,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $338,265 |
| Savings and temporary cash investments | $2,045,021 |
| Pledges and grants receivable | $1,992,490 |
| Accounts receivable, net | $5,185 |
| 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 | $55,479 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $19,993,925 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $96,661 |
| Total assets | $24,527,026 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $12,846,394 |
| 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 | $95,000 |
| Total liabilities | $12,941,394 |
| Net assets without donor restrictions | $4,229,171 |
| Net assets with donor restrictions | $7,356,461 |
| 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 | $24,527,026 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Borough Of Manhattan Community College Foundation Inc has recieved totaling $1,853,910.
| Awarding Organization | Amount |
|---|---|
Robin Hood Foundation New York, NY PURPOSE: POVERTY RELIEF | $1,570,000 |
The Carroll And Milton Petrie Foundation Inc New York, NY PURPOSE: EDUCATIONAL | $235,000 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: ENDOWMENT | $30,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $8,550 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $180 |
Endowment Analysis
| Beg. Balance | $5,893,486 |
| Earnings | -$947,981 |
| Net Contributions | $11,308 |
| Grants | $27,062 |
| Ending Balance | $4,929,751 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Paula And Jerry Gottesman Family Supporting Foundation Inc Whippany, NJ | $103,919,025 | $11,534,966 |
The Jimmy And Berta Khezrie Charitable Foundation Long Branch, NJ | $561,838 | $13,044 |
Garnet Health Urgent Care P C Middletown, NY | $2,667,409 | $6,635,976 |
The Harry Halloran Jr Charitable Trust Philadelphia, PA | $26,412,399 | $8,412,088 |
Serv Properties And Management Inc Ewing, NJ | $27,477,154 | $8,087,563 |
Dentaquest Care Group Inc Boston, MA | $2,518,678 | $0 |
American Friends Of Sfath Emeth Yeshiva Brooklyn, NY | $187,158 | $4,689,874 |
Dbs Foundation Holdings Harrisburg, PA | $361,345 | $2,360,629 |
Knights Of Columbus Charities Usa Inc New Haven, CT | $92,663,013 | $7,484,954 |
Cfleads Accord, MA | $11,022,103 | $9,422,261 |
The American University Of Greece Foundation Boston, MA | $302,640,728 | $21,990,512 |
Endeavor Catalyst Inc New York, NY | $43,515,212 | $32,419,265 |