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← UNIVERSITY AT ALBANY FOUNDATION

Form 990 for tax year 2023

Filed by UNIVERSITY AT ALBANY FOUNDATION.

Totals

Total revenue
$47,756,593
Total expenses
$12,318,112
Contributions and grants received
$45,092,354
Grants paid
$5,871,739
Program service revenue
$783,635
Investment income
$2,237,878
Other revenue
-$357,274
Total assets, end of year
$238,704,903
Total liabilities, end of year
$14,455,228
Net assets or fund balances, end of year
$224,249,675
Program services expenses (Part IX)
$10,096,744
Management and general expenses
$1,373,624
Fundraising expenses
$847,744
Program service expenses (Part III)
$10,096,744

Program services were 82.0% 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

    $190,150

  • 1f · All other contributions, gifts and grants

    $44,902,204

  • 1g · Noncash contributions included above

    $640,481

  • 2a · Program service revenue: ADMIN FEE INCOME

    total $521,469 · related or exempt $521,469

  • 2b · Program service revenue: PROGRAM ACTIVITIES AND OTHER REVE

    total $262,166 · related or exempt $262,166

  • 3 · Investment income

    total $2,472,122 · unrelated business $30,182 · excluded $2,441,940

  • 6a · Gross rents

    real property $46,416

  • 6b · Less rental expenses

    real property $324,156

  • 6c · Rental income or loss

    real property -$277,740

  • 6d · Net rental income or loss

    total -$277,740 · excluded -$277,740

  • 7a · Gross sales of assets other than inventory

    securities $2,080,983

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

    securities $2,315,227

  • 7c · Gain or loss

    securities -$234,244

  • 7d · Net gain or loss

    total -$234,244 · unrelated business -$2,965 · excluded -$231,279

  • 8a · Fundraising events: gross income

    $53,232

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

    $190,150

  • 8b · Fundraising events: direct expenses

    $132,766

  • 8c · Net income from fundraising events

    total -$79,534 · excluded -$79,534

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $745,470 · program services $745,470

  • 2 · Grants to domestic individuals

    total $5,126,269 · program services $5,126,269

  • 5 · Compensation of officers, directors and key employees

    total $296,382 · program services $5,308 · management and general $291,074

  • 7 · Other salaries and wages

    total $441,368 · management and general $441,368

  • 8 · Pension plan contributions

    total $44,058 · management and general $44,058

  • 9 · Other employee benefits

    total $68,855 · management and general $68,855

  • 10 · Payroll taxes

    total $48,123 · management and general $48,123

  • 11b · Fees: legal

    total $12,960 · management and general $12,960

  • 11c · Fees: accounting

    total $58,975 · management and general $58,975

  • 11d · Fees: lobbying

    total $33,000 · program services $33,000

  • 11e · Fees: professional fundraising services

    total $30,000 · fundraising $30,000

  • 11f · Fees: investment management

    total $171,367 · management and general $171,367

  • 11g · Fees: other

    total $768,575 · program services $748,352 · management and general $3,114 · fundraising $17,109

  • 12 · Advertising and promotion

    total $87,147 · program services $87,147

  • 17 · Travel

    total $667,120 · program services $620,031 · management and general $7,625 · fundraising $39,464

  • 23 · Insurance

    total $25,976 · management and general $25,976

  • 24a · Other expenses: MEETINGS AND EVENTS

    total $611,899 · program services $611,899

  • 24b · Other expenses: SUPPLIES AND SERVICES

    total $596,382 · program services $434,448 · management and general $61,350 · fundraising $100,584

  • 24c · Other expenses: UNIVERSITY STAFFING

    total $549,039 · program services $549,039

  • 24d · Other expenses: INFORMATION TECHNOLOGY

    total $514,305 · program services $302,376 · management and general $38,842 · fundraising $173,087

  • 24e · All other expenses

    total $1,420,842 · program services $833,405 · management and general $99,937 · fundraising $487,500

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,915,801 · end of year $741,317

  • 2 · Savings and temporary cash investments

    beginning of year $11,040 · end of year $2,427,847

  • 3 · Pledges and grants receivable

    beginning of year $17,648,382 · end of year $18,323,219

  • 9 · Prepaid expenses and deferred charges

    beginning of year $546,877 · end of year $1,043,420

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

    $1,048,208

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

    $382,571

  • 10c · Land, buildings and equipment, net

    beginning of year $712,169 · end of year $665,637

  • 11 · Investments: publicly traded securities

    beginning of year $82,077,689 · end of year $127,591,908

  • 12 · Investments: other securities

    beginning of year $76,440,258 · end of year $84,328,750

  • 15 · Other assets

    beginning of year $3,387,788 · end of year $3,582,805

  • 17 · Accounts payable and accrued expenses

    beginning of year $653,042 · end of year $873,606

  • 25 · Other liabilities

    beginning of year $12,637,473 · end of year $13,581,622

  • 27 · Net assets without donor restrictions

    beginning of year $31,554,482 · end of year $36,922,101

  • 28 · Net assets with donor restrictions

    beginning of year $138,895,007 · end of year $187,327,574

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

THE MISSION OF THE UNIVERSITY AT ALBANY FOUNDATION IS TO ENCOURAGE, RECEIVE, ACCEPT, HOLD, INVEST, AND MANAGE MONEY AND PROPERTY OF EVERY DESCRIPTION, AND THE DISBURSEMENT THEREOF FOR THE PROMOTION, DEVELOPMENT ANDADVANCEMENT OF THE WELFARE OF THE STATE UNIVERSITY OF NEW YORK AT ALBANY (UNIVERSITY), ITS STUDENTS, FACULTY, STAFF AND ALUMNI, AND ANY OTHER ORGANIZATION, QUALIFIED AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE CODE AND ITS REGULATIONS, WHICH HAS AMONG ITS CORPORATE PURPOSES PROVIDING ASSISTANCE TO THE UNIVERSITY.

  • HIGHER EDUCATION PROGRAM ADMINISTER FUNDS FOR THE PROMOTION, DEVELOPMENT AND ADVANCEMENT OF THE WELFARE OF THE UNIVERSITY AT ALBANY, SUNY, ITS STUDENTS, FACULTY, STAFF AND ALUMNI. SCHOLARSHIPS, AWARDS, AND EMERGENCY STUDENT ASSISTANCE WERE PROVIDED TO 2,948 INDIVIDUALS

    Expenses $10,096,744 · Grants $5,871,739 · Revenue $262,166

  • ADMINISTRATIVE SERVICES PROVIDE MANAGEMENT AND ACCOUNTING SERVICES TO ORGANIZATIONS WHOSE PURPOSE IS TO ADVANCE THE EDUCATIONAL AND RESEARCH MISSION OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY.

    Revenue $521,469

As filed on the 2023 return.

Listed in Part VII

  • HAVIDAN RODRIGUEZ

    DIRECTOR

    Total calculated
    $4,450
    From this org
    $4,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • GEORGE HEARST III

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LEWIS WIENER

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JEFFREY BLACK

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • BRIAN STRAUGHTER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • NOLAN ALTMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL BORYS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PETER BULGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL CASTELLANA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SAUL CURTIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATHLEEN DENNIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LOUIS DESORBO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELDA DI RE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LISA FUND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARY HAGGERTY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KEITH HYNES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHARON KANTOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AMY KNAPP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ROANNE KULAKOFF

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM LANFORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARYANNE LAVAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MEG PICOTTE MACCLARENCE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN NAUMANN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM NEWMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DANIEL NOLAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KAVAN PUJARA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KIMBERLY SANGER JONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT SCHWARTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • REBECCA STAFFORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUSAN SHIPHERD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MAUREEN SWEENEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • EDWARD SWYER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MICHAEL WEILHEIMER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARK YANG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TODD FOREMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JONATHAN JONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CANON KAY HOTALING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD MCGINN JR

    CHIEF FINANCIAL OFFICER

    Total calculated
    $252,425
    From this org
    $227,731
    From related orgs
    $0
    Other
    $24,694
    Hours/week
    24.37 + 13.13 related

    Schedule J breakdown matched by us

    Base
    $214,296
    Bonus
    $0
    Other
    $13,435
    Deferred
    $22,698
    Nontaxable benefits
    $1,996
    Filer's total
    $252,425

  • FARDIN SANAI

    EXECUTIVE DIRECTOR

    Total calculated
    $18,120
    From this org
    $18,120
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 1 related

  • CHRISTOPHER LOSAVIO

    CONTROLLER

    Total calculated
    $153,291
    From this org
    $138,151
    From related orgs
    $0
    Other
    $15,140
    Hours/week
    30 + 7.5 related

    Schedule J breakdown matched by us

    Base
    $124,716
    Bonus
    $0
    Other
    $13,435
    Deferred
    $13,782
    Nontaxable benefits
    $1,358
    Filer's total
    $153,291

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

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 1A
THE FOUNDATION PAYS SOCIAL CLUB DUES FOR FARDIN SANAI (UNIVERSITY AT ALBANY FOUNDATION EXECUTIVE DIRECTOR/UNIVERSITY AT ALBANY VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT) AND HAVIDAN RODRIGUEZ (UNIVERSITY AT ALBANY FOUNDATION DIRECTOR/UNIVERSITY AT ALBANY PRESIDENT). THE DUES HAVE BEEN REPORTED AS TAXABLE COMPENSATION.

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.

Related corporations and trusts

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

  • (1) POOLED INCOME FUND (1)

    INVESTING · NY

    Directly controlled by UA FOUNDAT

Provenance

Return type
form_990
Tax year
2023
Filed
8 May 2025
IRS schema version
2023v6.0
Source object
202541299349301514

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