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Nonprofiteer
← COOPER UNION FOR THE ADVANCEMENT OF SCIENCE AND ART

Form 990 for tax year 2022

Filed by COOPER UNION FOR THE ADVANCEMENT OF SCIENCE AND ART.

Totals

Total revenue
$147,251,165
Total expenses
$120,427,683
Contributions and grants received
$26,208,120
Grants paid
$32,948,558
Program service revenue
$48,359,661
Investment income
$70,513,265
Other revenue
$2,170,119
Total assets, end of year
$1,190,263,080
Total liabilities, end of year
$351,157,257
Net assets or fund balances, end of year
$839,105,823
Program services expenses (Part IX)
$104,060,907
Management and general expenses
$13,246,597
Fundraising expenses
$3,120,179
Program service expenses (Part III)
$104,060,907

Program services were 86.4% 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

    $8,630

  • 1e · Government grants (contributions)

    $427,820

  • 1f · All other contributions, gifts and grants

    $25,771,670

  • 1g · Noncash contributions included above

    $2,595,588

  • 2a · Program service revenue: TUITION & STUDENT FEES

    total $45,870,084 · related or exempt $45,870,084

  • 2b · Program service revenue: AUXILIARY INCOME

    total $2,489,577 · related or exempt $2,489,577

  • 3 · Investment income

    total $60,887,937 · unrelated business -$34,124 · excluded $60,922,061

  • 6a · Gross rents

    real property $1,575,162

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,575,162

  • 6d · Net rental income or loss

    total $1,575,162 · excluded $1,575,162

  • 7a · Gross sales of assets other than inventory

    securities $202,858,976

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

    securities $193,233,648

  • 7c · Gain or loss

    securities $9,625,328

  • 7d · Net gain or loss

    total $9,625,328 · excluded $9,625,328

  • 8a · Fundraising events: gross income

    $7,820

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

    $8,630

  • 8b · Fundraising events: direct expenses

    $7,060

  • 8c · Net income from fundraising events

    total $760 · excluded $760

  • 11a · Other revenue: OTHER REVENUE

    total $594,197 · excluded $594,197

  • 11e · Other revenue, total

    $594,197

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $29,141,924 · program services $29,141,924

  • 3 · Grants to foreign organizations and individuals

    total $3,806,634 · program services $3,806,634

  • 5 · Compensation of officers, directors and key employees

    total $3,257,674 · program services $1,190,055 · management and general $1,777,648 · fundraising $289,971

  • 7 · Other salaries and wages

    total $29,848,276 · program services $26,703,145 · management and general $2,223,571 · fundraising $921,560

  • 8 · Pension plan contributions

    total $2,406,485 · program services $2,060,602 · management and general $262,654 · fundraising $83,229

  • 9 · Other employee benefits

    total $9,634,981 · program services $8,247,228 · management and general $987,638 · fundraising $400,115

  • 10 · Payroll taxes

    total $2,377,642 · program services $2,035,018 · management and general $257,711 · fundraising $84,913

  • 11b · Fees: legal

    total $1,538,448 · management and general $1,538,448

  • 11c · Fees: accounting

    total $228,972 · management and general $228,972

  • 11d · Fees: lobbying

    total $163,770 · management and general $163,770

  • 11e · Fees: professional fundraising services

    total $330,000 · fundraising $330,000

  • 11f · Fees: investment management

    total $1,163,874 · management and general $1,163,874

  • 11g · Fees: other

    total $2,310,907 · program services $1,323,562 · management and general $850,308 · fundraising $137,037

  • 12 · Advertising and promotion

    total $210,302 · program services $203,624 · management and general $3,178 · fundraising $3,500

  • 13 · Office expenses

    total $1,682,533 · program services $1,114,747 · management and general $333,114 · fundraising $234,672

  • 14 · Information technology

    total $1,141,791 · program services $742,511 · management and general $399,280

  • 16 · Occupancy

    total $6,740,415 · program services $6,306,765 · management and general $282,545 · fundraising $151,105

  • 17 · Travel

    total $291,015 · program services $259,385 · management and general $28,634 · fundraising $2,996

  • 19 · Conferences, conventions and meetings

    total $781,640 · program services $461,690 · management and general $146,213 · fundraising $173,737

  • 20 · Interest

    total $11,473,031 · program services $10,813,333 · management and general $549,179 · fundraising $110,519

  • 22 · Depreciation, depletion and amortization

    total $8,762,085 · program services $8,363,214 · management and general $242,823 · fundraising $156,048

  • 23 · Insurance

    total $852,512 · program services $179,864 · management and general $672,648

  • 24a · Other expenses: MISCELLANEOUS ADMIN.

    total $1,585,018 · program services $409,852 · management and general $1,134,389 · fundraising $40,777

  • 24b · Other expenses: STUDENT SERVICES

    total $330,885 · program services $330,885

  • 24c · Other expenses: LIBRARY CONSORTIUM

    total $326,316 · program services $326,316

  • 24d · Other expenses: LIBRARY BOOKS/PERIOD.

    total $40,553 · program services $40,553

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,163,438 · end of year $20,900,528

  • 2 · Savings and temporary cash investments

    beginning of year $2,635,622 · end of year $2,817,886

  • 3 · Pledges and grants receivable

    beginning of year $4,461,937 · end of year $8,930,032

  • 7 · Other notes and loans receivable

    beginning of year $1,312,500 · end of year $118,894

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,370,539 · end of year $6,705,207

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

    $301,183,140

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

    $171,787,044

  • 10c · Land, buildings and equipment, net

    beginning of year $130,967,045 · end of year $129,396,096

  • 11 · Investments: publicly traded securities

    beginning of year $120,330,702 · end of year $133,211,876

  • 12 · Investments: other securities

    beginning of year $894,642,831 · end of year $883,513,411

  • 15 · Other assets

    beginning of year $0 · end of year $4,669,150

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,981,999 · end of year $41,464,409

  • 19 · Deferred revenue

    beginning of year $101,018,068 · end of year $104,155,219

  • 23 · Secured mortgages and notes payable

    beginning of year $206,718,800 · end of year $200,151,376

  • 25 · Other liabilities

    beginning of year $3,069,089 · end of year $5,386,253

  • 27 · Net assets without donor restrictions

    beginning of year -$97,509,348 · end of year -$91,003,255

  • 28 · Net assets with donor restrictions

    beginning of year $928,606,006 · end of year $930,109,078

Mission and programs · 2022

Mission

SEE SCHEDULE OVISION: THE COOPER UNION FOR THE ADVANCEMENT OF SCIENCE AND ART IS DEDICATED TO PETER COOPER'S RADICAL COMMITMENT TO DIVERSITY AND HIS FOUNDING VISION THAT FAIR ACCESS TO AN INSPIRING FREE EDUCATION AND FORUMS FOR COURAGEOUS PUBLIC DISCOURSE FOSTER A JUST AND THRIVING WORLD.MISSION: OUR MISSION IS TO SUSTAIN THE COOPER UNION AS A FREE CENTER OF LEARNING AND CIVIC DISCOURSE THAT INSPIRES INVENTIVE, CREATIVE, AND INFLUENTIAL VOICES IN ARCHITECTURE, ART, AND ENGINEERING TO ADDRESS THE CRITICAL CHALLENGES AND OPPORTUNITIES OF OUR TIME.

Activities or mission (Part I)

THE COOPER UNION FOR THE ADVANCEMENT OF SCIENCE AND ART IS AN ALL-HONORS COLLEGE THAT OFFERS DEGREES IN ENGINEERING, ARCHITECTURE AND FINE ARTS.

  • INSTRUCTION: THE COOPER UNION FOR THE ADVANCEMENT OF SCIENCE AND ART IS AMONG THE UNITED STATES' OLDEST AND MOST DISTINGUISHED HIGHER EDUCATION INSTITUTIONS. IT IS COMPRISED OF THREE PROFESSIONAL SCHOOLS: ARCHITECTURE, ART, AND ENGINEERING; AND A FACULTY OF HUMANITIES AND SOCIAL SCIENCES. (CONTINUED ON SCHEDULE O)THE COLLEGE ADMITS UNDERGRADUATES SOLELY ON MERIT AND HISTORICALLY AWARDED FULL-TUITION SCHOLARSHIPS TO ALL ENROLLED UNDERGRADUATE STUDENTS. FOLLOWING A PROVISIONAL REDUCTION IN 2014 OF SCHOLARSHIPS TO 50% OF TUITION DUE TO FISCAL REASONS, THE COLLEGE IS NOW EXECUTING A BOARD-APPROVED PLAN TO RESUME ITS PRACTICE OF AWARDING FULL-TUITION SCHOLARSHIPS TO ALL ENROLLED UNDERGRADUATE STUDENTS. THE INSTITUTION PROVIDES STUDENTS CLOSE CONTACT WITH A DISTINGUISHED, CREATIVE FACULTY AND FOSTERS RIGOROUS, HUMANISTIC LEARNING THAT IS ENHANCED BY THE PROCESS OF DESIGN AND AUGMENTED BY THE URBAN SETTING. ENROLLMENT FOR THE 2022-2023 ACADEMIC YEAR WAS 909 UNDERGRADUATE STUDENTS AND 60 GRADUATE STUDENTS.

    Expenses $102,917,920 · Grants $32,727,099 · Revenue $45,870,084

  • RESIDENCE LIFE: THE COOPER UNION STUDENT RESIDENCE OFFERS APARTMENT-STYLE HOUSING TO 156 STUDENTS. THE FACILITY IS STAFFED BY PROFESSIONAL AND GRADUATE STUDENT STAFF AND EIGHT UNDERGRADUATE RESIDENT ASSISTANTS. THE RESIDENTIAL LIFE STAFF HOSTS SOCIAL, EDUCATIONAL, AND CULTURAL PROGRAMS AIMED AT BUILDING A STRONG COMMUNITY, INCREASING APPRECIATION FOR DIVERSE BACKGROUNDS AND PERSPECTIVES, AND HELPING STUDENTS TRANSITION TO LIFE IN NEW YORK CITY AND AT THE COOPER UNION.

    Expenses $1,142,987 · Grants $221,459 · Revenue $2,489,577

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Malcolm King

    CHAIR - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Aftab Hussain

    VICE CHAIR - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Lou Manzione

    VICE CHAIR - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Anne Chao

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Maurice D Cox

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Brickson Diamond

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Elias Dills

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Joseph Dobronyi Jr

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Wanda Felton

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Pamela Flaherty

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Judy Freyer

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Graziolo

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Jadyn Hammond From 623

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • J Dana Hughes

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Anthony Ianno

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Tim Ingrassia

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Jamie Levitt

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Marshall Rafal From 623

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Brian Steinwurtzel

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Robert Tan

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Ben Vinson

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Stephen Welby From 623

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Carol Wolf

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Shirley Yan Till 623

    MEMBER - BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Laura Sparks

    PRESIDENT

    Total calculated
    $940,788
    From this org
    $723,163
    From related orgs
    $0
    Other
    $217,625
    Hours/week
    33 + 2 related

    Schedule J breakdown matched by us

    Base
    $722,039
    Bonus
    $0
    Other
    $1,124
    Deferred
    $43,591
    Nontaxable benefits
    $174,034
    Filer's total
    $940,788

  • John Ruth

    VP-FIN/ADMIN, TREASURER

    Total calculated
    $370,594
    From this org
    $306,757
    From related orgs
    $0
    Other
    $63,837
    Hours/week
    33 + 2 related

    Schedule J breakdown matched by us

    Base
    $303,284
    Bonus
    $0
    Other
    $3,473
    Deferred
    $30,500
    Nontaxable benefits
    $33,337
    Filer's total
    $370,594

  • Charlotte Wessell

    SECRETARY

    Total calculated
    $187,788
    From this org
    $137,110
    From related orgs
    $0
    Other
    $50,678
    Hours/week
    33 + 2 related

    Schedule J breakdown matched by us

    Base
    $136,940
    Bonus
    $0
    Other
    $170
    Deferred
    $14,117
    Nontaxable benefits
    $36,561
    Filer's total
    $187,788

  • Barry Shoop

    DEAN/PROF. OF ENGINEERING

    Total calculated
    $436,518
    From this org
    $405,937
    From related orgs
    $0
    Other
    $30,581
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $399,001
    Bonus
    $0
    Other
    $6,936
    Deferred
    $30,581
    Nontaxable benefits
    $0
    Filer's total
    $436,518

  • Mark Campbell

    VP-ENROLLMENT

    Total calculated
    $397,222
    From this org
    $323,751
    From related orgs
    $0
    Other
    $73,471
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $320,278
    Bonus
    $0
    Other
    $3,473
    Deferred
    $30,500
    Nontaxable benefits
    $42,971
    Filer's total
    $397,222

  • Natalie Brooks

    CHIEF TALENT OFFICER

    Total calculated
    $344,850
    From this org
    $312,475
    From related orgs
    $0
    Other
    $32,375
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $312,475
    Bonus
    $0
    Other
    $0
    Deferred
    $30,500
    Nontaxable benefits
    $1,875
    Filer's total
    $344,850

  • Mike Essl

    DEAN/PROF. OF ART

    Total calculated
    $346,800
    From this org
    $277,414
    From related orgs
    $0
    Other
    $69,386
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $276,692
    Bonus
    $0
    Other
    $722
    Deferred
    $27,729
    Nontaxable benefits
    $41,657
    Filer's total
    $346,800

  • Terri Coppersmith

    VP-DEVELOPMENT

    Total calculated
    $277,127
    From this org
    $240,882
    From related orgs
    $0
    Other
    $36,245
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $238,120
    Bonus
    $0
    Other
    $2,762
    Deferred
    $24,563
    Nontaxable benefits
    $11,682
    Filer's total
    $277,127

  • Anthony Vidler

    PROF. OF ARCHITECTURE

    Total calculated
    $340,169
    From this org
    $296,732
    From related orgs
    $0
    Other
    $43,437
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $282,797
    Bonus
    $0
    Other
    $13,935
    Deferred
    $28,142
    Nontaxable benefits
    $15,295
    Filer's total
    $340,169

  • Nader Tehrani

    DEAN/PROF. OF ARCHITECTURE

    Total calculated
    $300,909
    From this org
    $272,649
    From related orgs
    $0
    Other
    $28,260
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $272,649
    Bonus
    $0
    Other
    $0
    Deferred
    $27,680
    Nontaxable benefits
    $580
    Filer's total
    $300,909

  • Robert Reinckens

    CHIEF TECH OFFICER

    Total calculated
    $290,413
    From this org
    $263,225
    From related orgs
    $0
    Other
    $27,188
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $254,251
    Bonus
    $0
    Other
    $8,974
    Deferred
    $25,425
    Nontaxable benefits
    $1,763
    Filer's total
    $290,413

  • Ruben Savizky

    PROF. OF CHEMISTRY

    Total calculated
    $315,198
    From this org
    $249,991
    From related orgs
    $0
    Other
    $65,207
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $249,109
    Bonus
    $0
    Other
    $882
    Deferred
    $23,690
    Nontaxable benefits
    $41,516
    Filer's total
    $315,197

  • Melody Baglione

    PROF. OF MECHAN. ENGIN.

    Total calculated
    $285,383
    From this org
    $223,389
    From related orgs
    $0
    Other
    $61,994
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $222,277
    Bonus
    $0
    Other
    $1,112
    Deferred
    $21,087
    Nontaxable benefits
    $40,906
    Filer's total
    $285,382

  • Keith Stokeld 817-1217

    INT. DIR. FIN/ADMIN, TREASURER

    Total calculated
    $237,154
    From this org
    $182,066
    From related orgs
    $0
    Other
    $55,088
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $180,070
    Bonus
    $0
    Other
    $1,996
    Deferred
    $18,676
    Nontaxable benefits
    $36,412
    Filer's total
    $237,154

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE PRESIDENT IS PROVIDED WITH HOUSING AND ASSOCIATED CLEANING AND MAINTENANCE SERVICES (TO ENABLE BUSINESS USE OF THE HOUSE) AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE UNIVERSITY, WHICH REQUIRES THE PRESIDENT TO BE IN CLOSE PROXIMITY TO THE CAMPUS TO ATTEND TO EMERGENCY MATTERS AND TO USE HER HOME AS AN EXTENSION OF HER OFFICE FOR MEETINGS, BUSINESS ENTERTAINING, AND OTHER SIMILAR FUNCTIONS. HOUSING VALUED AT $148,000 WAS INCLUDED AS NONTAXABLE COMPENSATION ON SCHEDULE J, PART II, COLUMN (D).
PART I, LINE 4B
PRESIDENT LAURA SPARKS PARTICIPATED IN A 457(F) RETIREMENT PLAN AND RECEIVED $4,500 OF NON-QUALIFIED DEFERRED COMPENSATION FROM THAT PLAN DURING CALENDAR YEAR 2022.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

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.

  • ASTOR PLACE HOLDING CORPORATION

    501(C)(2) · PROPERTY · NY · controlled entity

    Directly controlled by COOPER UNION

  • CV STARR RESEARCH FOUNDATION

    501(C)(3) · RESEARCH/EDUCATION · NY · controlled entity

    Directly controlled by COOPER UNION

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • PLANNED GIVING POOLS (9)

    T · ANNUITY · NY

  • CHARITABLE REMAINDER TRUSTS (5)

    T · ANNUITY · NY

  • CHARITABLE GIFT ANNUITIES (56)

    T · ANNUITY · NY

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202411319349304156

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