Empire State College Fdn Inc
- Assets
- $43.5m
- Revenue
- $3.0m
- Investments
- $23.8k
- Employees
- 0
- Location
- Saratoga Springs, NY
- Founding
- 10/1976
- Data as of
- 06/2021
- EIN
- 51-0193595
Organization Overview
Empire State College Fdn Inc is located in Saratoga Springs, NY. The organization was established in 1976. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, 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. Empire State College Fdn 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 06/2021, Empire State College Fdn Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $1.3m during the year ending 06/2021. While expenses have increased by 0.9% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST IN ADVANCING THE WELFARE AND DEVELOPMENT OF EMPIRE STATE COLLEGE (A UNIT OF THE STATE UNIVERSITY OF NEW YORK), INCLUDING FINANCIAL ASSISTANCE TO STUDENTS, FACULTY, STAFF AND COLLEGE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION GAVE 660 STUDENTS SCHOLARSHIPS, 41 FACULTY DEVELOPMENT AWARDS, 304 AWARDS/GRANTS TO INDIVIDUALS, AND 8 HONORARIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marian Conway PHD Chair | OfficerTrustee | 1 | $0 |
David Fullard PHD Secretary | OfficerTrustee | 1 | $0 |
Alexandra Bonitatibus Treasurer | OfficerTrustee | 1 | $0 |
Sue Epstein PHD Executive Director | Officer | 20 | $0 |
Theodore Bunch Director | Trustee | 1 | $0 |
Phillip B Catchings Director | Trustee | 1 | $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 | $597,870 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $597,870 |
| Total Program Service Revenue | $0 |
| Investment income | $826,477 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $253,127 |
| Net Gain/Loss on Asset Sales | $1,355,297 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,045,939 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $882,245 |
| 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 | $96,094 |
| 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 | $30,078 |
| Fees for services: Investment Management | $47,787 |
| Fees for services: Other | $73,569 |
| 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 | $61,936 |
| Insurance | $22,016 |
| All other expenses | $300 |
| Total functional expenses | $1,268,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,761 |
| Savings and temporary cash investments | $147,262 |
| Pledges and grants receivable | $99,213 |
| Accounts receivable, net | $97,246 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $368,250 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,772,248 |
| Investments—publicly traded securities | $40,880,524 |
| Investments—other securities | $23,814 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,850 |
| Total assets | $43,485,168 |
| Accounts payable and accrued expenses | $184,594 |
| Grants payable | $0 |
| Deferred revenue | $506,254 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $271,671 |
| 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 | $0 |
| Total liabilities | $962,519 |
| Net assets without donor restrictions | $30,133,823 |
| Net assets with donor restrictions | $12,388,826 |
| 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 | $43,485,168 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Empire State College Fdn Inc has recieved totaling $132,141.
| Awarding Organization | Amount |
|---|---|
Suny Impact Foundation Inc New York, NY PURPOSE: NYS TAX CREDIT DONATIONS: VARIOUS | $79,311 |
Dyson Foundation Millbrook, NY PURPOSE: MULTI-YEAR SCHOLARSHIP SUPPORT FOR MID-HUDSON VALLEY ADULT STUDENTS ENROLLED IN SUNY EMPIRE STATE COLLEGE'S NURSING DEGREE PROGRAMS. | $20,000 |
Dyson Foundation Millbrook, NY PURPOSE: MULTI-YEAR SCHOLARSHIP SUPPORT FOR MID-HUDSON VALLEY ADULT STUDENTS ENROLLED IN SUNY EMPIRE STATE COLLEGE'S NURSING DEGREE PROGRAMS. | $20,000 |
Julia O Wells Memorial Education Foundation Inc Latham, NY PURPOSE: COLLEGE GRANT | $7,500 |
Emss Foundation Inc Palm Beach Gardens, FL PURPOSE: GENERAL PURPOSES | $4,000 |
Philene Foundation New York, NY PURPOSE: EDUCATION | $1,000 |
Endowment Analysis
| Beg. Balance | $20,971,763 |
| Earnings | $5,489,951 |
| Net Contributions | $119,955 |
| Other Expense | $653,814 |
| Ending Balance | $25,927,855 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marlboro College Foxborough, MA | $37,753,712 | $8,202,208 |
University Of Valley Forge Of The Assemblies Of God Phoenixville, PA | $33,204,385 | $17,692,057 |
Manor College Jenkintown, PA | $17,591,857 | $16,869,766 |
Boricua College New York, NY | $59,386,544 | $9,310,938 |
Purchase College Association Inc Suny College At Purchase Purchase, NY | $7,359,023 | $12,412,930 |
Bard College Berlin A Liberal Arts University Ggmbh Annandaleonhudson, NY | $6,902,665 | $9,754,938 |
Sattler College Inc Boston, MA | $4,505,835 | $11,233,247 |
Pennsylvania Institue Of Technology Media, PA | $8,362,791 | $13,243,605 |
Sterling College Craftsbury Common, VT | $8,938,081 | $9,817,486 |
Hebrew College Newton, MA | $18,470,927 | $14,279,250 |
The College Of New Jersey Foundation Inc Ewing, NJ | $60,398,961 | $30,765,630 |
Fei Tian College Cuddebackville, NY | $23,027,384 | $17,138,947 |