Form 990 for tax year 2023
Filed by RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK.
Totals
- Total revenue
- $1,443,536,073
- Total expenses
- $1,458,680,376
- Contributions and grants received
- $1,176,927,600
- Grants paid
- $0
- Program service revenue
- $199,089,889
- Investment income
- $29,632,575
- Other revenue
- $37,886,009
- Total assets, end of year
- $1,631,066,568
- Total liabilities, end of year
- $733,526,214
- Net assets or fund balances, end of year
- $897,540,354
- Program services expenses (Part IX)
- $1,245,227,109
- Management and general expenses
- $213,433,317
- Fundraising expenses
- $19,950
- Program service expenses (Part III)
- $1,245,227,109
Program services were 85.4% 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.
-
1e · Government grants (contributions)
$731,067,944
-
1f · All other contributions, gifts and grants
$445,859,656
-
1g · Noncash contributions included above
$3,002,952
-
2a · Program service revenue: AGENCY ACTIVITY
total $199,089,889 · related or exempt $199,089,889
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $12,107,720 · unrelated business $28,767 · excluded $12,078,953
-
5 · Royalties
total $10,190,790 · excluded $10,190,790
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $237,352,686 · other assets $12,464,542
-
7b · Less cost or other basis and sales expenses
securities $221,124,695 · other assets $11,167,678
-
7c · Gain or loss
securities $16,227,991 · other assets $1,296,864
-
7d · Net gain or loss
total $17,524,855 · excluded $17,524,855
-
11a · Other revenue: SERVICE CENTER REVENUE
total $9,108,211 · related or exempt $6,812,585 · unrelated business $2,295,626
-
11b · Other revenue: AGENCY FEES
total $7,094,542 · related or exempt $7,094,542 · unrelated business $0
-
11d · All other revenue
total $11,492,466 · related or exempt $11,492,466 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$27,695,219
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $1,671,439 · management and general $1,671,439
-
6 · Compensation of disqualified persons
total $168,644 · program services $168,644
-
7 · Other salaries and wages
total $558,350,836 · program services $470,295,571 · management and general $88,055,265
-
8 · Pension plan contributions
total $32,964,409 · program services $27,684,445 · management and general $5,279,964
-
9 · Other employee benefits
total $142,473,298 · program services $117,530,822 · management and general $24,942,476
-
10 · Payroll taxes
total $33,883,286 · program services $28,456,144 · management and general $5,427,142
-
11b · Fees: legal
total $1,364,957 · program services $118,420 · management and general $1,246,537
-
11c · Fees: accounting
total $447,942 · program services $17,000 · management and general $430,942
-
11d · Fees: lobbying
total $356,777 · management and general $356,777
-
11e · Fees: professional fundraising services
total $19,950 · fundraising $19,950
-
11f · Fees: investment management
total $3,256,371 · management and general $3,256,371
-
11g · Fees: other
total $101,427,755 · program services $84,468,939 · management and general $16,958,816 · fundraising $0
-
12 · Advertising and promotion
total $3,252,868 · program services $799,874 · management and general $2,452,994
-
13 · Office expenses
total $115,658,617 · program services $100,561,876 · management and general $15,096,741
-
14 · Information technology
total $15,555,327 · program services $3,983,127 · management and general $11,572,200
-
15 · Royalties
total $7,588,594 · program services $7,588,594
-
16 · Occupancy
total $36,754,327 · program services $30,214,345 · management and general $6,539,982
-
17 · Travel
total $20,962,927 · program services $17,086,750 · management and general $3,876,177
-
19 · Conferences, conventions and meetings
total $7,998,257 · program services $4,744,424 · management and general $3,253,833
-
20 · Interest
total $15,493,248 · program services $12,291,884 · management and general $3,201,364
-
22 · Depreciation, depletion and amortization
total $91,493,438 · program services $86,359,434 · management and general $5,134,004
-
23 · Insurance
total $2,344,272 · program services $601,807 · management and general $1,742,465
-
24a · Other expenses: SUBCONTRACTS
total $126,530,266 · program services $126,204,902 · management and general $325,364
-
24b · Other expenses: TUITION AND FEES
total $28,047,146 · program services $27,165,793 · management and general $881,353
-
24c · Other expenses: FELLOWSHIPS
total $25,996,394 · program services $24,709,373 · management and general $1,287,021
-
24d · Other expenses: EQUIPMENT
total $44,700,731 · program services $40,369,622 · management and general $4,331,109
-
24e · All other expenses
total $39,918,300 · program services $33,805,319 · management and general $6,112,981 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0
-
2 · Savings and temporary cash investments
beginning of year $61,572,114 · end of year $111,892,388
-
3 · Pledges and grants receivable
beginning of year $224,378,891 · end of year $257,885,364
-
4 · Accounts receivable
beginning of year $21,288,059 · end of year $33,522,327
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $1,513 · end of year $3,642
-
9 · Prepaid expenses and deferred charges
beginning of year $61,163 · end of year $162,684
-
10a · Land, buildings and equipment: cost or other basis
$1,008,666,729
-
10b · Land, buildings and equipment: accumulated depreciation
$605,987,285
-
10c · Land, buildings and equipment, net
beginning of year $467,610,275 · end of year $402,679,444
-
11 · Investments: publicly traded securities
beginning of year $205,948,734 · end of year $200,611,420
-
12 · Investments: other securities
beginning of year $385,289,802 · end of year $468,325,463
-
13 · Investments: program-related
beginning of year $0
-
14 · Intangible assets
beginning of year $5,202,577 · end of year $8,790,103
-
15 · Other assets
beginning of year $156,873,727 · end of year $147,193,733
-
17 · Accounts payable and accrued expenses
beginning of year $146,191,530 · end of year $150,447,268
-
19 · Deferred revenue
beginning of year $262,521,279 · end of year $328,705,074
-
20 · Tax-exempt bond liabilities
beginning of year $2,920,000 · end of year $2,670,000
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $159,153,559 · end of year $134,703,323
-
24 · Unsecured notes and loans payable
beginning of year $1,570,000
-
25 · Other liabilities
beginning of year $127,731,066 · end of year $117,000,549
-
27 · Net assets without donor restrictions
beginning of year $797,197,175 · end of year $865,098,087
-
28 · Net assets with donor restrictions
beginning of year $30,942,246 · end of year $32,442,267
Mission and programs · 2023
Mission
SEE SCHEDULE O
Activities or mission (Part I)
SEE SCHEDULE O.
-
RESEARCH- PROGRAM SERVICE ACCOMPLISHMENTS- SEE SCHEDULE O
Expenses $769,506,011 · Revenue $437,981
-
PUBLIC SERVICE- PROGRAM SERVICE ACCOMPLISHMENTS- SEE SCHEDULE O
Expenses $116,027,885 · Revenue $463,907
-
TRAINING AND EDUCATION- PROGRAM SERVICE ACCOMPLISHMENTS - SEE SCHEDULE O
Expenses $100,544,110 · Revenue $888,772
-
THE RF PROVIDES SERVICES TO CAMPUS-RELATED ORGANIZATIONS ACROSS 31 SUNY LOCATIONS AND TO RF AFFILIATES - SEPARATE, PRIVATE CORPORATIONS THAT SUPPORT CAMPUS GOALS TO CONDUCT COLLABORATIVE RESEARCH PROJECTS, EMPOWER SMALL BUSINESS INCUBATION, AND MANAGE AND DEVELOP REAL ESTATE. THE RF OFFERS HUMAN RESOURCES/PAYROLL AND PURCHASING/PAYABLES ADMINISTRATIVE SERVICES TO THESE ORGANIZATIONS. CAMPUS-RELATED ORGANIZATIONS ARE CREATED TO SUPPORT SUNY'S MISSION; EXAMPLES OF SUCH ORGANIZATIONS ARE CAMPUS FOUNDATIONS AND CLINICAL PRACTICE PLANS AT THE SUNY MEDICAL INSTITUTIONS. APPROXIMATELY 1,800 INDIVIDUALS WERE EMPLOYED BY THE RF FOR THESE PROGRAM SERVICES. THE RF ALSO ADMINISTERS GRANTS AND CONTRACTS SUCH AS SCHOLARSHIPS AND FELLOWSHIPS FOR SUNY STUDENTS THAT ARE FUNDED BY EXTERNAL SPONSORS AND ADMINISTERS PROGRAMS SUCH AS THE SUNY TECHNOLOGY ACCELERATOR FUND (TAF), WHICH ENABLES FACULTY INVENTORS AND SCIENTISTS TO DEMONSTRATE THAT THEIR PROMISING IDEAS HAVE COMMERCIAL POTENTIAL THROUGH FEASIBILITY STUDIES, PROTOTYPING, AND TESTING. THE REMAINING APPROXIMATELY 3,000 INDIVIDUALS EMPLOYED BY THE RF WERE MAINLY CORPORATE STAFF SUPPORTING THE PROGRAMS DESCRIBED IN LINES 4A THROUGH 4D. FOR MORE INFORMATION ABOUT THE RF GO TO WWW.RFSUNY.ORG.
Expenses $259,149,103 · Revenue $222,698,822
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dr Bahgat SammakiaDR BAHGAT SAMMAKIA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Dr Benjamin HoultonDR BENJAMIN HOULTON
DIRECTOR (as of 02/2024)
- Total calculated
- $0
- Hours/week
- 1.5
-
Dr Maurie D McInnisDR MAURIE D MCINNIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Satish K TripathiDR SATISH K TRIPATHI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Dr Timothy J LawrenceDR TIMOTHY J LAWRENCE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Daniel C TomsonMR DANIEL C TOMSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 9
-
Mr Edward SpiroMR EDWARD SPIRO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Mr Eric L CochranMR ERIC L COCHRAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Mr Robert MegnaMR ROBERT MEGNA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 7.5
-
Mr Robert P BalachandranMR ROBERT P BALACHANDRAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Robert S AzekeMR ROBERT S AZEKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ms Diane M MinasMS DIANE M MINAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ms Eileen WhelleyMS EILEEN WHELLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Ms Heather MulliganMS HEATHER MULLIGAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ms Hillary D HansenMS HILLARY D HANSEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Dr Jeffrey CheekDR JEFFREY CHEEK
PRESIDENT & CHIEF EXECUTIVE OFFICER (through 01/24)
- Total calculated
- $393,654
- From this org
- $355,977
- From related orgs
- $0
- Other
- $37,677
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $355,577
- Bonus
- $0
- Other
- $400
- Deferred
- $29,961
- Nontaxable benefits
- $7,716
- Filer's total
- $393,654
-
Dr Melur RamasubramanianDR MELUR RAMASUBRAMANIAN
PRESIDENT (as of 11/23)
- Total calculated
- $28,876
- From this org
- $25,893
- From related orgs
- $0
- Other
- $2,983
- Hours/week
- 18.8
Schedule J breakdown matched by us
- Base
- $25,893
- Bonus
- $0
- Other
- $0
- Deferred
- $1,429
- Nontaxable benefits
- $1,554
- Filer's total
- $28,876
-
Mr Christopher AshleyMR CHRISTOPHER ASHLEY
GENERAL COUNSEL AND SECRETARY
- Total calculated
- $357,089
- From this org
- $297,013
- From related orgs
- $0
- Other
- $60,076
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $297,013
- Bonus
- $0
- Other
- $0
- Deferred
- $30,457
- Nontaxable benefits
- $29,619
- Filer's total
- $357,089
-
Mr Ryan P FarrellMR RYAN P FARRELL
CHIEF FINANCIAL OFFICER
- Total calculated
- $244,059
- From this org
- $207,960
- From related orgs
- $0
- Other
- $36,099
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $207,560
- Bonus
- $0
- Other
- $400
- Deferred
- $20,974
- Nontaxable benefits
- $15,125
- Filer's total
- $244,059
-
Ms Kathleen Caggiano-SiinoMS KATHLEEN CAGGIANO-SIINO
INTERIM CHIEF OPERATING OFFICER (AS OF 02/24)
- Total calculated
- $297,066
- From this org
- $239,110
- From related orgs
- $0
- Other
- $57,956
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $238,750
- Bonus
- $0
- Other
- $360
- Deferred
- $24,719
- Nontaxable benefits
- $33,237
- Filer's total
- $297,066
-
Mr Joshua ToasMR JOSHUA TOAS
CHIEF COMPLIANCE OFFICER
- Total calculated
- $294,156
- From this org
- $236,170
- From related orgs
- $0
- Other
- $57,986
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $236,170
- Bonus
- $0
- Other
- $0
- Deferred
- $24,455
- Nontaxable benefits
- $33,531
- Filer's total
- $294,156
-
Mr David AndersonMR DAVID ANDERSON
PRESIDENT NY CREATES
- Total calculated
- $455,361
- From this org
- $413,310
- From related orgs
- $0
- Other
- $42,051
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $413,300
- Bonus
- $0
- Other
- $10
- Deferred
- $13,716
- Nontaxable benefits
- $28,335
- Filer's total
- $455,361
-
Mr David MarcusMR DAVID MARCUS
CIO, STONY BROOK FOUNDATION
- Total calculated
- $612,597
- From this org
- $557,659
- From related orgs
- $0
- Other
- $54,938
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $446,275
- Bonus
- $111,384
- Other
- $0
- Deferred
- $27,345
- Nontaxable benefits
- $27,593
- Filer's total
- $612,597
-
Ms Diane FischerMS DIANE FISCHER
AVP FOR ACADEMIC BUDGET AND FINANCIAL PLANNING
- Total calculated
- $339,155
- From this org
- $307,044
- From related orgs
- $0
- Other
- $32,111
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $307,044
- Bonus
- $0
- Other
- $0
- Deferred
- $30,750
- Nontaxable benefits
- $1,361
- Filer's total
- $339,155
-
Ms Eileen M PezziMS EILEEN M PEZZI
VP FOR DEVELOPMENT, UPSTATE MEDICAL UNIV
- Total calculated
- $450,911
- From this org
- $369,398
- From related orgs
- $0
- Other
- $81,513
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $329,398
- Bonus
- $40,000
- Other
- $0
- Deferred
- $33,000
- Nontaxable benefits
- $48,513
- Filer's total
- $450,911
-
Ms Lorraine L ManzellaMS LORRAINE L MANZELLA
ADMN DIR UPSTATE UNIV MED ASSOCIATION
- Total calculated
- $358,875
- From this org
- $305,055
- From related orgs
- $0
- Other
- $53,820
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $305,055
- Bonus
- $0
- Other
- $0
- Deferred
- $36,794
- Nontaxable benefits
- $17,026
- Filer's total
- $358,875
-
Ms Emily KunchalaMS EMILY KUNCHALA
FORMER CHIEF FINANCIAL OFFICER
- Total calculated
- $130,752
- From this org
- $104,697
- From related orgs
- $0
- Other
- $26,055
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $104,697
- Bonus
- $0
- Other
- $0
- Deferred
- $10,905
- Nontaxable benefits
- $15,150
- Filer's total
- $130,752
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
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part I, Line 3 Compensation Of President
- THE SALARY OF THE PRESIDENT DR. MELUR RAMASUBRAMANIAN, PAID BY THE STATE UNIVERSITY OF NEW YORK WITH REIMBURSEMENT PROVIDED BY THE RESEARCH FOUNDATION, WAS INCLUDED IN SUNY EXECUTIVE COMPENSATION BENCHMARKING AND GOVERNING BODY REVIEW. THE PROCESS TO ESTABLISH THE RF PRESIDENT'S COMPENSATION IS DESCRIBED FURTHER IN SCHEDULE O.
- Schedule J, Part I, Line 7 NON-FIXED PAYMENTS
- NON-FIXED PAYMENTS (OTHER REPORTABLE COMPENSATION) INCLUDE PAYMENTS TO MS. EILLEEN PEZZI & MR. DAVID MARCUS FOR PERFORMANCE AWARDS. INDIVIDUAL INCENTIVES UNDER THE RF WELLNESS PROGRAM AND RECOGNITION AWARDS.
- Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
- NAME - DR MELUR RAMASUBRAMANIAN, COMPENSATION FROM UNRELATED ORGANIZATION - 28876.000000, NAME OF UNRELATED ORGANIZATION - THE STATE UNIVERSITY OF NEW YORK, TYPE OF COMPENSATION - SALARY PAID BY THE STATE UNIVERSITY OF NEW YORK, 50% OF HIS SALARY IS REIMBURSED BY THE RESEARCH FOUNDATION FOR HIS ROLE AS PRESIDENT
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.
-
RESEARCH FOUNDATION POST-RETIREMENT BENEFITS PLAN
501(c)(9) · BENEFITS · NY · controlled entity
Directly controlled by RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 16 January 2025
- IRS schema version
- 2023v6.0
- Source object
- 202520169349300902
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