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Nonprofiteer
← PURCHASE COLLEGE FOUNDATION

Form 990 for tax year 2024

Filed by PURCHASE COLLEGE FOUNDATION.

Totals

Total revenue
$7,709,166
Total expenses
$6,795,864
Contributions and grants received
$2,035,720
Grants paid
$1,904,765
Program service revenue
$289,811
Investment income
$5,383,635
Other revenue
$0
Total assets, end of year
$107,403,842
Total liabilities, end of year
$13,023,989
Net assets or fund balances, end of year
$94,379,853
Program services expenses (Part IX)
$5,309,034
Management and general expenses
$645,570
Fundraising expenses
$841,260
Program service expenses (Part III)
$5,309,034

Program services were 78.1% 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)

    $40,000

  • 1f · All other contributions, gifts and grants

    $1,995,720

  • 2a · Program service revenue: OTHER INCOME

    total $289,811 · related or exempt $289,811

  • 3 · Investment income

    total $2,155,977 · excluded $2,155,977

  • 7a · Gross sales of assets other than inventory

    securities $35,764,878

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

    securities $32,537,220

  • 7c · Gain or loss

    securities $3,227,658

  • 7d · Net gain or loss

    total $3,227,658 · excluded $3,227,658

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,904,765 · program services $1,904,765

  • 7 · Other salaries and wages

    total $2,615,778 · program services $1,728,837 · management and general $415,946 · fundraising $470,995

  • 11b · Fees: legal

    total $11,217 · management and general $11,217

  • 11c · Fees: accounting

    total $77,000 · management and general $77,000

  • 11g · Fees: other

    total $502,959 · program services $213,983 · fundraising $288,976

  • 12 · Advertising and promotion

    total $18,020 · program services $18,020

  • 13 · Office expenses

    total $370,621 · program services $259,896 · management and general $96,009 · fundraising $14,716

  • 17 · Travel

    total $55,144 · program services $33,497 · management and general $939 · fundraising $20,708

  • 23 · Insurance

    total $42,240 · management and general $42,240

  • 24a · Other expenses: PROGRAM ACTIVITIES AND

    total $1,138,693 · program services $1,138,199 · fundraising $494

  • 24b · Other expenses: PRINTING AND POSTAGE

    total $36,859 · fundraising $36,859

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $11,313 · program services $11,313

  • 24d · Other expenses: OTHER EXPENSES

    total $11,255 · program services $524 · management and general $2,219 · fundraising $8,512

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,349,819 · end of year $850,813

  • 2 · Savings and temporary cash investments

    beginning of year $847,378 · end of year $847,378

  • 3 · Pledges and grants receivable

    beginning of year $353,759 · end of year $419,355

  • 11 · Investments: publicly traded securities

    beginning of year $69,582,872 · end of year $67,500,195

  • 12 · Investments: other securities

    beginning of year $29,616,755 · end of year $37,786,009

  • 15 · Other assets

    beginning of year -$462 · end of year $92

  • 17 · Accounts payable and accrued expenses

    beginning of year $434,036 · end of year $430,478

  • 19 · Deferred revenue

    beginning of year $45,078 · end of year $35,065

  • 25 · Other liabilities

    beginning of year $11,451,182 · end of year $12,558,446

  • 27 · Net assets without donor restrictions

    beginning of year $9,938,799 · end of year $11,590,356

  • 28 · Net assets with donor restrictions

    beginning of year $79,881,026 · end of year $82,789,497

Mission and programs · 2024

Mission

THE FOUNDATION WAS INCORPORATED UNDER THE NOT-FOR-PROFIT LAWS OF THE STATE OF NEW YORK FOR THE PROMOTION OF LITERATURE, HISTORY, VISUAL AND PERFORMING ARTS, SCIENCE AND OTHER DEPARTMENTS OF EDUCATION AT THE STATE UNIVERSITY OF NEW YORK AT PURCHASE.

Activities or mission (Part I)

THE FOUNDATION WAS INCORPORATED UNDER THE NOT-FOR-PROFIT LAWS OF THE STATE OF NEW YORK FOR THE PROMOTION AND SUPPORT OF PURCHASE COLLEGE, STATE UNIVERSITY OF NEW YORK. UNIQUELY, PURCHASE COLLEGE COMBINES BOTH RENOWNED AND HIGHLY SELECTIVE PROFESSIONAL AND CONSERVATORY ARTS PROGRAMS WITH DISTINGUISHED LIBERAL ARTS AND SCIENCES PROGRAMS. THE LARGEST PROGRAMS ARE IN VISUAL ARTS, MUSIC, LIBERAL STUDIES, PSYCHOLOGY, DANCE, BIOLOGY, JOURNALISM AND NEW MEDIA.

  • INSTITUTIONAL SCHOLARSHIPS ARE AWARDED BY THE COLLEGE USING FUNDS FROM THE PURCHASE COLLEGE FOUNDATION, AS WELL AS OTHER SOURCES. FOUNDATION FUNDS COME FROM THE GENEROUS CONTRIBUTIONS OF DONORS TO THE FOUNDATION. THESE DONORS ARE INDIVIDUALS, FAMILIES, FOUNDATIONS AND CORORATIONS. DURING THE 2024-2025 ACADEMIC YEAR, 521 STUDENTS WERE RECIPIENTS OF SCHOLARSHIPS FROM THE PURCHASE COLLEGE FOUNDATION.

    Expenses $1,904,765 · Grants $1,904,765

  • THE FOUNDATION PROVIDED RESOURCES IN ORDER TO ATTRACT AND RETAIN EXCEPTIONAL FACULTY, AID IN CURRICULUM ENHANCEMENT AND SUPPORT PUBLIC LECTURES WHICH PROVIDE OPPORTUNITIES FOR STUDENTS AND LOCAL COMMUNITY MEMBERS ALIKE TO INTERACT WITH EXPERTS IN VARIOUS DISCIPLINES.

    Expenses $1,881,904

  • THE NEUBERGER MUSEUM OF ART IS THE PREMIER MUSEUM OF MODERN, CONTEMPORARY AND AFRICAN ART IN WESTCHESTER AND FAIRFIELD COUNTIES. A TEACHING MUSEUM, THE NEUBERGER PROMOTES THE APPRECIATION AND ENJOYMENT OF THE VISUAL ARTS AS INSEPARABLE FROM AN UNDERSTANDING OF THEIR PLACE IN CULTURAL AND INTELLECTUAL HISTORY AND THEIR RELEVANCE TO CONTEMPORARY SOCIAL LIFE. AS AN INTERGRAL PART OF PURCHASE COLLEGE AND A VITAL CENTER OF THE COMMUNITY ENGAGEMENT, THE NEUBERGER SUPPORTS LIFELONG LEARNING BY TAKING A CRITICAL, INTERDISCIPLINARY APPROACH TO ITS COLLECTIONS, EXHIBITIONS, AND PUBLIC PROGRAMS. APPROXIMATELY 16,900 VISITORS ATTEND THE MUSEUM EACH YEAR.

    Expenses $1,248,638 · Revenue $13,721

  • OTHER PROGRAM SERVICES

    Expenses $273,727

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Suellen Peluso

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Clifford Aronson

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • James Dubin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sebnem Erim

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Fonseca

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Vicki Gillespie

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Geri Pell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jason Soto

    EX-OFFICIO (NON-VOTING)

    Total calculated
    $0
    Hours/week
    15

  • Judith A Riggs

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Debra Roth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Gerhard Seebacher

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Peter J Wise

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Milagros Pena

    EX-OFFICIO (NON-VOTING)

    Total calculated
    $0
    Hours/week
    1

  • Paul Zukowsky

    EX-OFFICIO (NON-VOTING)

    Total calculated
    $0
    Hours/week
    1

  • Reed Elfenbein

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Roy Moskowitz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
6 February 2026
IRS schema version
2024v5.5
Source object
202600419349300915

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