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← FOUNDATION OF THE STATE UNIVERSITY OF NEW YORK AT BINGHAMTON INC

Form 990 for tax year 2024

Filed by FOUNDATION OF THE STATE UNIVERSITY OF NEW YORK AT BINGHAMTON INC.

Totals

Total revenue
$56,524,847
Total expenses
$33,245,495
Contributions and grants received
$15,334,916
Grants paid
$26,843,607
Program service revenue
$73,722
Investment income
$35,894,474
Other revenue
$5,221,735
Total assets, end of year
$498,389,648
Total liabilities, end of year
$13,535,257
Net assets or fund balances, end of year
$484,854,391
Program services expenses (Part IX)
$28,317,815
Management and general expenses
$1,776,145
Fundraising expenses
$3,151,535
Program service expenses (Part III)
$28,317,815

Program services were 85.2% 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)

    $3,575,235

  • 1f · All other contributions, gifts and grants

    $11,759,681

  • 1g · Noncash contributions included above

    $1,228,577

  • 2a · Program service revenue: BU FORUM - MEMBERSHIP DUES

    total $73,722 · related or exempt $73,722

  • 3 · Investment income

    total $18,582,331 · unrelated business $125,090 · excluded $18,457,241

  • 7a · Gross sales of assets other than inventory

    securities $524,955,953

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

    securities $507,643,810

  • 7c · Gain or loss

    securities $17,312,143

  • 7d · Net gain or loss

    total $17,312,143 · excluded $17,312,143

  • 11a · Other revenue: ACCOUNTING SERVICES

    total $2,864,797 · related or exempt $2,864,797

  • 11b · Other revenue: BFSS, LLC

    total $1,785,459 · related or exempt $1,785,459

  • 11c · Other revenue: MISCELLANEOUS

    total $571,479 · related or exempt $571,479

  • 11e · Other revenue, total

    $5,221,735

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $19,099,955 · program services $19,099,955

  • 2 · Grants to domestic individuals

    total $7,743,652 · program services $7,743,652

  • 7 · Other salaries and wages

    total $2,640,698 · management and general $831,966 · fundraising $1,808,732

  • 11b · Fees: legal

    total $10,904 · management and general $10,904

  • 11c · Fees: accounting

    total $42,350 · management and general $42,350

  • 11e · Fees: professional fundraising services

    total $348,917 · fundraising $348,917

  • 11f · Fees: investment management

    total $638,147 · management and general $638,147

  • 13 · Office expenses

    total $64,469 · management and general $28,436 · fundraising $36,033

  • 14 · Information technology

    total $263,542 · management and general $89,270 · fundraising $174,272

  • 17 · Travel

    total $64,900 · management and general $2,909 · fundraising $61,991

  • 19 · Conferences, conventions and meetings

    total $68,968 · management and general $37,210 · fundraising $31,758

  • 22 · Depreciation, depletion and amortization

    total $9,261 · management and general $9,261

  • 23 · Insurance

    total $50,828 · management and general $50,828

  • 24a · Other expenses: PROGRAM - BFSS, LLC

    total $1,403,580 · program services $1,403,580

  • 24b · Other expenses: FUNDRAISING - OTHER

    total $689,832 · fundraising $689,832

  • 24c · Other expenses: PROGRAM - BU FORUM

    total $70,628 · program services $70,628

  • 24d · Other expenses: MISCELLANEOUS

    total $34,864 · management and general $34,864

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,395,049 · end of year $7,858,751

  • 2 · Savings and temporary cash investments

    beginning of year $4,800,570 · end of year $6,442,345

  • 3 · Pledges and grants receivable

    beginning of year $13,381,210 · end of year $9,247,429

  • 4 · Accounts receivable

    beginning of year $5,691,440 · end of year $4,135,983

  • 9 · Prepaid expenses and deferred charges

    beginning of year $154,691 · end of year $554,435

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

    $27,630,140

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

    $2,835,118

  • 10c · Land, buildings and equipment, net

    beginning of year $22,336,592 · end of year $24,795,022

  • 11 · Investments: publicly traded securities

    beginning of year $327,997,213 · end of year $336,969,559

  • 12 · Investments: other securities

    beginning of year $75,226,319 · end of year $103,327,184

  • 15 · Other assets

    beginning of year $4,793,588 · end of year $5,058,940

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,057,016 · end of year $3,796,083

  • 21 · Escrow or custodial account liability

    beginning of year $11,824,003 · end of year $6,521,643

  • 25 · Other liabilities

    beginning of year $3,735,367 · end of year $3,217,531

  • 27 · Net assets without donor restrictions

    beginning of year $195,960,663 · end of year $208,350,751

  • 28 · Net assets with donor restrictions

    beginning of year $253,199,623 · end of year $276,503,640

Mission and programs · 2024

Mission

SEE 990 PART 1 LINE 1

Activities or mission (Part I)

THE FOUNDATION WAS ESTABLISHED TO ACCEPT AND ENCOURAGE GIFTS TO THE FOUNDATION AND TO ADVANCE THE WELFARE AND DEVELOPMENT OF THE UNIVERSITY TO MAKE GRANTS OF FINANCIAL ASSISTANCE TO THE UNIVERSITY AND ITS FACULTY AND STUDENTS; TO RECEIVE, HOLD AND ADMINISTER SUCH GIFTS TO SERVICE THE PREVIOUSLY STATED PURPOSE

  • SUPPORT OF ACTIVITIES OF THE UNIVERSITY BY MEANS OF SCHOLARSHIPS AND GRANTS TO QUALIFYING STUDENTS ($7,743,652), FINANCIAL ASSISTANCE TO THE PROGRAMS AND ACTIVITIES OF THE FACULTY AND STUDENTS OF THE UNIVERSITY ($19,099,955), AND ALLOCATED ADMINISTRATIVE EXPENSES FOR THESE PROGRAMS ($1,403,580).

    Expenses $28,247,187 · Grants $26,843,607 · Revenue $5,221,735

  • BINGHAMTON UNIVERSITY FORUM IS A MEMBER ONLY GROUP FORMED BY THE FOUNDATION TO PROMOTE COMMUNITY RELATIONS AND ENCOURAGE PRIVATE SUPPORT OF THE UNIVERSITY.

    Expenses $70,628 · Revenue $73,722

As filed on the 2024 return.

Listed in Part VII

  • ALBERT NOCCIOLINO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • ALEX HUPPE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • ANDREW BONZANI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • ANITA BORKENSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • BAI LEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • CAROLYN MANCINI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • CATHLEEN M ELLSWORTH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • CHARLES KIM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • DONALD HALL

    EX-OFFICIO DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • ELIZABETH KOFFMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • NANA SAHEB BANERJEE PHD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • GERALDINE MACDONALD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • HARVEY STENGER

    EX-OFFICIO DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • HOWARD UNGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • JAMES ORBAND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • JEFFREY TUCKER

    TREASURER

    Total calculated
    $0
    Hours/week
    0.3

  • JAMES BANKOSKI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • JOHN CARRIGG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • ELIZABETH BLOOMER NESVOLD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • JOSEPH MIRABITO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • JUDITH GARCZYNSKI FLEISHMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • KAREN FEUER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • KATHERINE WARNER

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3

  • KEITH HORN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • KENNETH GOLDBLATT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • MARK ZURACK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • MICHAEL D TIMMENY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • MICHELLE J SCHWARTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • DAVID WHITMORE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • MITCHELL LIEBERMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • BRIAN J ZAKROCKI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • PAUL TUROVSKY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • STEVEN BLOOM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • STUART KOENIG

    CHAIR

    Total calculated
    $0
    Hours/week
    0.3

  • TYRONE MUSE

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.3

  • CARA TREIDEL

    EX-OFFICIO DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • ABBY GOLDSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • MICHAEL KERNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • KIM MYERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • MITCHELL S GOLDSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • SHEILA DOYLE

    EXECUTIVE DIRECTOR

    Total calculated
    $394,544
    From this org
    $0
    From related orgs
    $342,132
    Other
    $52,412
    Hours/week
    30.5 + 9.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,594 related
    Bonus
    $0
    Other
    $0 + $41,538 related
    Deferred
    $0 + $39,397 related
    Nontaxable benefits
    $0 + $13,015 related
    Filer's total
    $0 + $394,544 related

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

  • 2 · Substantiation required before reimbursing expenses

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION'S EXECUTIVE DIRECTOR IS PAID BY THE RELATED ORGANIZATION, BINGHAMTON UNIVERSITY AND THE SUNY RESEARCH FOUNDATION. AS AN EMPLOYEE OF BOTH ORGANIZATIONS, COMPENSATION IS DETERMINED BY THE POLICIES AND PROCEDURES OF EACH ORGANIZATION.

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

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.

  • BFSS LLC

    SUPPORT OF THE ACTIVITIES OF THE BU FOUNDATION · NY · income $2,910,438 · assets $21,193,847

    Directly controlled by FOUNDATION OF THE STATE UNIVERSITY OF NEW YORK AT BINGHAMTON INC

  • BU FOUNDATION DAF LLC

    DONOR ADVISED FUND · NY · income $7,479,628 · assets $165,657,838

    Directly controlled by FOUNDATION OF THE STATE UNIVERSITY OF NEW YORK AT BINGHAMTON INC

  • QUOGUE BIOVENTURES III LLC

    SUPPORT THE ACTVITIES OF THE BU FOUNDATION · NY · income $0 · assets $0

    Directly controlled by FOUNDATION OF THE STATE UNIVERSITY OF NEW YORK AT BINGHAMTON INC

Provenance

Return type
form_990
Tax year
2024
Filed
17 December 2025
IRS schema version
2024v5.5
Source object
202610479349300116

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