Foundation For City College is located in New York, NY. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2023, Foundation For City College employed 144 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For City College 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, Foundation For City College generated $27.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (47.8%) each year. All expenses for the organization totaled $33.7m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Foundation For City College has awarded 20 individual grants totaling $38,549,245. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
AN EDUCATIONAL FOUNDATION SUPPORTING STUDENTS & PROGRAMS OF THE CITY COLLEGE OF NY, CUNY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE ACTIVITIES SUPPORTING PROGRAMS - PROVIDING SUPPORT TO STUDENTS, FACULTY, AND PROGRAMS WITHIN CITY COLLEGE.
SCHOLARSHIP PROGRAMS - PROVIDING SCHOLARSHIPS FOR CITY COLLEGE STUDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dr Vince Boudreau College President | OfficerTrustee | 1 | $0 |
Martin Cohen Chairperson | OfficerTrustee | 1 | $0 |
Vivien R Clark Secretary | OfficerTrustee | 1 | $0 |
Edward Blank Board Member | Trustee | 1 | $0 |
Joseph Fleischer Board Member | Trustee | 1 | $0 |
Dr Leonard Kleinrock Board Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Empire Office Inc Renovations | 6/29/23 | $522,351 |
Sanky Communications Direct Mail/online Fundraising | 6/29/23 | $296,107 |
Urban Arts Partnership Gaming Pathways Program Services | 6/29/23 | $236,216 |
Pryor Cashman Llp Legal Services | 6/29/23 | $143,766 |
Highland Fundraising Solutions Llc Fundraising Services | 6/29/23 | $134,599 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $93,595 |
Related organizations | $0 |
Government grants | $801,625 |
All other contributions, gifts, grants, and similar amounts not included above | $21,585,979 |
Noncash contributions included in lines 1a–1f | $61,224 |
Total Revenue from Contributions, Gifts, Grants & Similar | $22,481,199 |
Total Program Service Revenue | $172,426 |
Investment income | $9,033,152 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $13,267 |
Net Rental Income | $68,245 |
Net Gain/Loss on Asset Sales | -$3,784,881 |
Net Income from Fundraising Events | -$222,633 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $595 |
Miscellaneous Revenue | $0 |
Total Revenue | $27,910,258 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $14,131,251 |
Grants and other assistance to domestic individuals. | $7,712,970 |
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 | $2,101,699 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $99,468 |
Payroll taxes | $164,678 |
Fees for services: Management | $0 |
Fees for services: Legal | $53 |
Fees for services: Accounting | $67,248 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $421,602 |
Fees for services: Investment Management | $610,956 |
Fees for services: Other | $3,054,800 |
Advertising and promotion | $150,783 |
Office expenses | $113,919 |
Information technology | $11,847 |
Royalties | $0 |
Occupancy | $178,029 |
Travel | $292,872 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,142,169 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $78,275 |
All other expenses | $251,299 |
Total functional expenses | $33,668,656 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,646,918 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $18,050,997 |
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 | $10,582 |
Prepaid expenses and deferred charges | $1,961,050 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $336,559,357 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $10,113 |
Total assets | $359,239,017 |
Accounts payable and accrued expenses | $1,783,738 |
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 | $508,925 |
Total liabilities | $2,292,663 |
Net assets without donor restrictions | $27,426,713 |
Net assets with donor restrictions | $329,519,641 |
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 | $359,239,017 |
Over the last fiscal year, Foundation For City College has awarded $13,536,669 in support to 6 organizations.
Grant Recipient | Amount |
---|---|
RESEARCH FOUNDATION OF CUNY PURPOSE: SPONSORSHIP | $10,841,163 |
THE CITY COLLEGE OF NEW YORK PURPOSE: SPONSORSHIP | $2,291,053 |
AARON DAVIS HALL INC PURPOSE: SPONSORSHIP | $22,453 |
NEW YORK FOOTBALL GIANTS INC PURPOSE: SPONSORSHIP | $220,000 |
FAMU FOUNDATION INC PURPOSE: SPONSORSHIP | $150,000 |
GREATER HARLEM CHAMBER OF COMMERCE PURPOSE: SPONSORSHIP | $12,000 |