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← COMMUNITY FOUNDATIONS OF THE HUDSON VALLEY

Form 990 for tax year 2023

Filed by COMMUNITY FOUNDATIONS OF THE HUDSON VALLEY.

Totals

Total revenue
$33,010,069
Total expenses
$21,522,794
Contributions and grants received
$27,025,751
Grants paid
$19,372,832
Program service revenue
$146,454
Investment income
$5,853,975
Other revenue
-$16,111
Total assets, end of year
$121,751,054
Total liabilities, end of year
$12,911,090
Net assets or fund balances, end of year
$108,839,964
Program services expenses (Part IX)
$20,367,790
Management and general expenses
$1,108,297
Fundraising expenses
$46,707
Program service expenses (Part III)
$20,367,790

Program services were 94.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $162,126

  • 1f · All other contributions, gifts and grants

    $26,863,625

  • 1g · Noncash contributions included above

    $1,724,636

  • 2a · Program service revenue: ADMINISTRATIVE SERVICE FEES

    total $146,454 · related or exempt $146,454

  • 3 · Investment income

    total $2,543,779 · excluded $2,543,779

  • 7a · Gross sales of assets other than inventory

    securities $26,878,083

  • 7b · Less cost or other basis and sales expenses

    securities $23,567,887

  • 7c · Gain or loss

    securities $3,310,196

  • 7d · Net gain or loss

    total $3,310,196 · excluded $3,310,196

  • 8a · Fundraising events: gross income

    $75,411

  • 8a · Fundraising events: contributions included on line 1c

    $162,126

  • 8b · Fundraising events: direct expenses

    $91,522

  • 8c · Net income from fundraising events

    total -$16,111 · excluded -$16,111

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $19,006,605 · program services $19,006,605

  • 2 · Grants to domestic individuals

    total $366,227 · program services $366,227

  • 5 · Compensation of officers, directors and key employees

    total $303,093 · program services $54,191 · management and general $242,040 · fundraising $6,862

  • 7 · Other salaries and wages

    total $623,905 · program services $373,913 · management and general $220,157 · fundraising $29,835

  • 8 · Pension plan contributions

    total $16,565 · program services $9,581 · management and general $6,185 · fundraising $799

  • 9 · Other employee benefits

    total $109,506 · program services $58,409 · management and general $46,115 · fundraising $4,982

  • 10 · Payroll taxes

    total $78,837 · program services $36,558 · management and general $39,149 · fundraising $3,130

  • 11c · Fees: accounting

    total $52,200 · management and general $52,200

  • 11d · Fees: lobbying

    total $4,500 · management and general $4,500

  • 11f · Fees: investment management

    total $232,326 · management and general $232,326

  • 11g · Fees: other

    total $236,406 · program services $136,619 · management and general $99,787

  • 12 · Advertising and promotion

    total $42,120 · program services $39,914 · management and general $2,085 · fundraising $121

  • 13 · Office expenses

    total $87,626 · program services $42,129 · management and general $45,282 · fundraising $215

  • 14 · Information technology

    total $79,141 · program services $40,597 · management and general $38,273 · fundraising $271

  • 16 · Occupancy

    total $117,324 · program services $57,961 · management and general $58,941 · fundraising $422

  • 17 · Travel

    total $4,623 · program services $4,381 · management and general $229 · fundraising $13

  • 19 · Conferences, conventions and meetings

    total $11,421 · program services $9,842 · management and general $1,568 · fundraising $11

  • 22 · Depreciation, depletion and amortization

    total $12,631 · program services $6,240 · management and general $6,345 · fundraising $46

  • 23 · Insurance

    total $13,115 · management and general $13,115

  • 24a · Other expenses: PROGRAM INITIATIVES

    total $124,623 · program services $124,623

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $130,215 · end of year $62,249

  • 2 · Savings and temporary cash investments

    beginning of year $12,173,216 · end of year $15,015,639

  • 3 · Pledges and grants receivable

    beginning of year $35,500 · end of year $33,000

  • 4 · Accounts receivable

    beginning of year $171,351 · end of year $222,327

  • 9 · Prepaid expenses and deferred charges

    beginning of year $25,464 · end of year $37,017

  • 10a · Land, buildings and equipment: cost or other basis

    $97,027

  • 10b · Land, buildings and equipment: accumulated depreciation

    $61,584

  • 10c · Land, buildings and equipment, net

    beginning of year $48,074 · end of year $35,443

  • 11 · Investments: publicly traded securities

    beginning of year $90,521,349 · end of year $103,196,120

  • 12 · Investments: other securities

    beginning of year $326,165 · end of year $2,339,875

  • 15 · Other assets

    beginning of year $904,840 · end of year $809,384

  • 17 · Accounts payable and accrued expenses

    beginning of year $73,797 · end of year $54,448

  • 18 · Grants payable

    beginning of year $524,116 · end of year $399,664

  • 19 · Deferred revenue

    beginning of year $64,583 · end of year $69,957

  • 21 · Escrow or custodial account liability

    beginning of year $9,989,158 · end of year $10,423,099

  • 25 · Other liabilities

    beginning of year $871,388 · end of year $1,963,922

  • 27 · Net assets without donor restrictions

    beginning of year $92,561,967 · end of year $107,756,914

  • 28 · Net assets with donor restrictions

    beginning of year $251,165 · end of year $1,083,050

Mission and programs · 2023

Mission

THE COMMUNITY FOUNDATIONS OF THE HUDSON VALLEY STRENGTHENS OUR COMMUNITY BY OFFERING DONORS THE MEANS TO ESTABLISH CHARITABLE LEGACIES, BY MAKING GRANTS, AND BY PROVIDING LEADERSHIP TO ADDRESS COMMUNITY NEEDS IN A MANNER THAT IS RESPONSIBLE, RESPONSIVE AND LASTING.

Activities or mission (Part I)

THE FOUNDATIONS' MOST SIGNIFICANT ACTIVITIES FOR THE 2024 FISCAL YEAR WERE TO HOLD DONOR FUNDS, INVEST THEM PRUDENTLY, AND MAKE GRANT DISTRIBUTIONS TO NONPROFITS FOR CHARITABLE PURPOSES. OUR THREE MAIN PROGRAM AREAS ARE AS FOLLOWS: GRANTMAKING, DONOR RELATIONS, AND NONPROFIT TECHNICAL ASSISTANCE.

  • GRANT-MAKING: GRANTS FROM CHARITABLE FUNDS TO MEET COMMUNITY NEEDS AND IN KEEPING WITH DONORS' INTENT. OVER $20 MILLION DOLLARS WAS GRANTED FOR HEALTH AND HUMAN SERVICES, ARTS AND CULTURE, COMMUNITY IMPROVEMENT, YOUTH DEVELOPMENT, EDUCATION AND SCHOLARSHIPS, ANIMAL WELFARE, AND FAITH-BASED ORGANIZATIONS' CHARITABLE ACTIVITIES.

    Expenses $19,910,109 · Grants $19,372,832 · Revenue $146,454

  • DONOR RELATIONS: WORKING WITH DONORS TO CONNECT THEM TO THE CAUSES THEY CARE ABOUT MOST. INTRODUCING DONORS TO PROGRAMS AND AGENCIES THAT MATCH THEIR CHARITABLE INTERESTS. ACTIVITIES INCLUDE RESEARCH AND WORKSHOPS, HELPING DONORS ESTABLISH FUNDS AND LEGACY PLANS, AND ANSWERING QUESTIONS ABOUT CHARITABLE GIVING.

    Expenses $427,832

  • NONPROFIT TECHNICAL ASSISTANCE: OFFERING SEMINARS, BOARD, AND STAFF GUIDANCE ABOUT MANAGING NONPROFITS INCLUDING BOARD GOVERNANCE, DEI, FINANCIAL MANAGEMENT, COMPLIANCE, USING DATA TO IMPROVE PROGRAMS AND FUNDRAISING, ENDOWMENT, CREATING AND IMPLEMENTING PLANNED GIVING PROGRAMS, AND GRANT-WRITING.

    Expenses $29,849

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Charles Simon

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Robert J Cotter

    FIRST VICE CHAIR/VICE CHAIR, HUMAN RESOURCES

    Total calculated
    $0
    Hours/week
    4

  • Darrelyn Brennan

    VICE CHAIR, INVESTMENT

    Total calculated
    $0
    Hours/week
    4

  • Eleanor Charwat

    VICE CHAIR, DEVELOPMENT & MARKETING

    Total calculated
    $0
    Hours/week
    1

  • Melissa Manna-Williams Esq

    VICE CHAIR , GRANTS

    Total calculated
    $0
    Hours/week
    1

  • Rebecca Reynolds CPA

    VICE CHAIR, AUDIT/FINANCE

    Total calculated
    $0
    Hours/week
    1

  • Edward L McCormick

    TREASURER/VICE CHAIR, GOVERNANCE

    Total calculated
    $0
    Hours/week
    4

  • Anita Rice

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Aziz Ahsan Esq

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ashley Alleyne Mps

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Cannon

    TRUSTEE, THRU AUG. 2023

    Total calculated
    $0
    Hours/week
    1

  • John Finch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kevin Hamilton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Cora Mallory-Davis

    TRUSTEE, THRU NOV. 2023

    Total calculated
    $0
    Hours/week
    1

  • Yu-Shin Chen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Melanie Matero

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Margaret Rubin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Myrna Sameth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rendesia Scott

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Steven R Tinkelman Aia

    TRUSTEE, THRU JUNE 2024

    Total calculated
    $0
    Hours/week
    1

  • Kathleen Banks CFRE

    INTERIM PRES. & CEO, THRU OCT. 2023

    Total calculated
    $68,711
    From this org
    $68,441
    From related orgs
    $0
    Other
    $270
    Hours/week
    40

  • Nevill Smythe

    INTERIM PRES. & CEO, THRU FEB. 2024

    Total calculated
    $10,566
    From this org
    $10,560
    From related orgs
    $0
    Other
    $6
    Hours/week
    40

  • Laura Washington

    PRESIDENT & CEO, AS OF FEB. 2024

    Total calculated
    $0
    Hours/week
    40

  • Darcy Kelly

    CFO

    Total calculated
    $122,310
    From this org
    $104,763
    From related orgs
    $0
    Other
    $17,547
    Hours/week
    40

  • Cristin McPeake

    VICE PRESIDENT, PROGRAMS

    Total calculated
    $126,395
    From this org
    $120,724
    From related orgs
    $0
    Other
    $5,671
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • COMMUNITY FOUNDATIONS REAL ESTATE LLC

    REAL ESTATE · NY · income $0 · assets $0

    Directly controlled by COMMUNITY FOUNDATIONS OF THE HUDSON VALLEY INC

Provenance

Return type
form_990
Tax year
2023
Filed
10 December 2024
IRS schema version
2023v5.1
Source object
202423459349300322

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