Form 990 for tax year 2022
Filed by RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK.
Totals
- Total revenue
- $600,333,510
- Total expenses
- $592,838,098
- Contributions and grants received
- $560,421,167
- Grants paid
- $23,609,766
- Program service revenue
- $38,219,841
- Investment income
- $3,184,809
- Other revenue
- -$1,492,307
- Total assets, end of year
- $580,593,127
- Total liabilities, end of year
- $443,726,911
- Net assets or fund balances, end of year
- $136,866,216
- Program services expenses (Part IX)
- $560,412,196
- Management and general expenses
- $32,412,902
- Fundraising expenses
- $13,000
- Program service expenses (Part III)
- $560,412,196
Program services were 94.5% 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)
$394,885,748
-
1f · All other contributions, gifts and grants
$165,535,419
-
2a · Program service revenue: ADMINISTRATIVE FEES
total $38,219,841 · related or exempt $38,219,841
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $3,230,750 · excluded $3,230,750
-
6a · Gross rents
real property $10,053,653
-
6b · Less rental expenses
real property $11,609,934
-
6c · Rental income or loss
real property -$1,556,281 · personal property $0
-
6d · Net rental income or loss
total -$1,556,281 · unrelated business -$2,280,433 · excluded $724,152
-
7a · Gross sales of assets other than inventory
securities $6,770,217
-
7b · Less cost or other basis and sales expenses
securities $6,816,158
-
7c · Gain or loss
securities -$45,941 · other assets $0
-
7d · Net gain or loss
total -$45,941 · excluded -$45,941
-
11a · Other revenue: OTHER TENANT CHARGES
total $51,605 · excluded $51,605
-
11b · Other revenue: MISCELLANEOUS INCOME
total $12,369 · excluded $12,369
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$63,974
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $23,609,766 · program services $23,609,766
-
5 · Compensation of officers, directors and key employees
total $1,612,289 · program services $0 · management and general $1,612,289 · fundraising $0
-
7 · Other salaries and wages
total $265,543,598 · program services $249,928,490 · management and general $15,615,108
-
8 · Pension plan contributions
total $12,529,594 · program services $11,541,928 · management and general $987,666
-
9 · Other employee benefits
total $48,028,936 · program services $44,242,976 · management and general $3,785,960
-
10 · Payroll taxes
total $18,950,577 · program services $17,461,533 · management and general $1,489,044
-
11b · Fees: legal
total $541,239 · program services $9,199 · management and general $532,040
-
11c · Fees: accounting
total $209,968 · management and general $209,968
-
11e · Fees: professional fundraising services
total $13,000 · fundraising $13,000
-
11f · Fees: investment management
total $76,481 · management and general $76,481
-
11g · Fees: other
total $76,853,319 · program services $76,828,809 · management and general $24,510 · fundraising $0
-
12 · Advertising and promotion
total $323,587 · program services $323,587
-
13 · Office expenses
total $1,531,001 · program services $1,445,874 · management and general $85,127
-
14 · Information technology
total $3,641,379 · program services $2,683,088 · management and general $958,291
-
16 · Occupancy
total $1,716,947 · program services $1,365,917 · management and general $351,030
-
17 · Travel
total $7,202,272 · program services $7,200,316 · management and general $1,956
-
19 · Conferences, conventions and meetings
total $3,495,356 · program services $3,427,253 · management and general $68,103
-
22 · Depreciation, depletion and amortization
total $1,208 · management and general $1,208
-
23 · Insurance
total $2,244,985 · program services $209,856 · management and general $2,035,129
-
24a · Other expenses: INDIRECT COSTS
total $68,040,989 · program services $68,040,989
-
24b · Other expenses: FURNITURE AND EQUIPMENT
total $11,673,566 · program services $11,559,360 · management and general $114,206
-
24c · Other expenses: LABORATORY FEES
total $3,075,814 · program services $3,075,814
-
24d · Other expenses: SUPPLIES
total $16,779,464 · program services $16,731,636 · management and general $47,828
-
24e · All other expenses
total $25,142,763 · program services $20,725,805 · management and general $4,416,958 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $46,493,375 · end of year $49,252,353
-
2 · Savings and temporary cash investments
beginning of year $219,118,053 · end of year $227,773,670
-
4 · Accounts receivable
beginning of year $101,707,596 · end of year $129,348,766
-
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
-
9 · Prepaid expenses and deferred charges
beginning of year $4,628,694 · end of year $4,543,839
-
10a · Land, buildings and equipment: cost or other basis
$79,306,972
-
10b · Land, buildings and equipment: accumulated depreciation
$39,637,202
-
10c · Land, buildings and equipment, net
beginning of year $40,471,033 · end of year $39,669,770
-
11 · Investments: publicly traded securities
beginning of year $39,230,958 · end of year $43,959,974
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
14 · Intangible assets
beginning of year $1,674,910 · end of year $1,534,815
-
15 · Other assets
beginning of year $59,191,285 · end of year $84,509,940
-
17 · Accounts payable and accrued expenses
beginning of year $85,429,537 · end of year $96,552,501
-
18 · Grants payable
beginning of year $4,894,276 · end of year $5,236,539
-
19 · Deferred revenue
beginning of year $127,375,476 · end of year $145,398,755
-
21 · Escrow or custodial account liability
beginning of year $131,016,165 · end of year $138,674,087
-
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 $58,786,344 · end of year $57,251,610
-
25 · Other liabilities
beginning of year $563,377 · end of year $613,419
-
27 · Net assets without donor restrictions
beginning of year $104,450,729 · end of year $136,866,216
Mission and programs · 2022
Mission
THE RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK (THE FOUNDATION) IS A PRIVATE, NOT-FOR-PROFIT EDUCATIONAL CORPORATION CHARTERED BY THE STATE OF NEW YORK IN 1963. ALTHOUGH THE FOUNDATION PERFORMS A VARIETY OF SERVICES FOR THE CITY UNIVERSITY OF NEW YORK (THE UNIVERSITY), IT IS A SEPARATE LEGAL ENTITY GOVERNED BY ITS OWN BOARD OF DIRECTORS AND OPERATED BY ITS OWN MANAGEMENT TEAM PURSUANT TO THE FOUNDATION'S BYLAWS, POLICIES AND PROCEDURES. THE FOUNDATION RECEIVES, HOLDS AND ADMINISTERS GIFTS, GRANTS AND CONTRACTS; ACTS AS TRUSTEE OF EDUCATIONAL OR CHARITABLE TRUSTS; FINANCES THE CONDUCT OF STUDIES AND RESEARCH IN ALL FIELDS OF INTELLECTUAL INQUIRY; ASSISTS IN DEVELOPING AND INCREASING FACILITIES; AND PERFORMS OTHER TASKS IN SUPPORT OF THE EDUCATIONAL AND COMMUNITY SERVICE OBJECTIVES OF THE UNIVERSITY. THE FOUNDATION EMPLOYS STAFF; ENTERS INTO CONTRACTUAL RELATIONSHIPS; AND ACQUIRES SUCH FACILITIES, GOODS AND SERVICES AS ARE APPROPRIATE TO ITS PURPOSE.
Activities or mission (Part I)
Provide support to CUNY faculty and staff in identifying and obtaining external support (pre-award) from government and private sponsors and is responsible for the administration of all such funded programs (post-award).
-
ORGANIZED RESEARCH - INCLUDES ALL EXTERNALLY FUNDED RESEARCH ACTIVITIES, BOTH BASIC AND APPLIED, AND ALL DEVELOPMENT ACTIVITIES. A SYSTEMATIC, INTENSIVE STUDY INTENDED TO INCREASE KNOWLEDGE OR UNDERSTANDING OF THE SUBJECT STUDIED, SPECIFICALLY DIRECTED TOWARD APPLYING A NEW KNOWLEDGE TO MEET A RECOGNIZED NEED, OR A SYSTEMATIC APPLICATION OF KNOWLEDGE TO THE PRODUCTION OF USEFUL MATERIALS, DEVISES, AND SYSTEMS OR METHODS, INCLUDING DESIGN, DEVELOPMENT, AND IMPROVEMENT OF PROTOTYPES AND NEW PROCESSES TO MEET SPECIFIC REQUIREMENTS. IT ALSO INCLUDES ACTIVITIES RELATED TO TRAINING OF INDIVIDUALS IN RESEARCH TECHNIQUES (COMMONLY CALLED RESEARCH TRAINING) WHERE SUCH ACTIVITIES UTILIZE THE SAME FACILITIES AS OTHER RESEARCH DEVELOPMENT ACTIVITIES.
Expenses $210,465,188 · Grants $9,969,334 · Revenue $13,833,413
-
OTHER SPONSORED ACTIVITY - PROGRAMS AND PROJECTS FUNDED BY FEDERAL AND NON-FEDERAL AGENCIES AND ORGANIZATIONS THAT INVOLVE THE PERFORMANCE OF WORK OR ACTIVITIES THAT ARE NOT CONSIDERED INSTRUCTION AND ORGANIZED RESEARCH THAT BENEFIT THE GENERAL PUBLIC OR SECTORS OF THE COMMUNITY. OSA TYPICALLY INCLUDE COMMUNITY OUTREACH OR DEVELOPMENT OF PUBLIC EDUCATION PROGRAMS.
Expenses $153,949,304 · Grants $4,566,654 · Revenue $8,249,366
-
INSTRUCTION/TRAINING - INCLUDES ALL SPONSORED TEACHING AND TRAINING ACTIVITIES, EXCEPT FOR RESEARCH TRAINING, OF AN INSTITUTION WHETHER OFFERED FOR CREDIT TOWARD A DEGREE OR CERTIFICATE, ON A NON-CREDIT BASIS, OR THROUGH REGULAR ACADEMIC DEPARTMENTS OR BY SEPARATE DIVISIONS, SUCH AS SUMMER SESSION.
Expenses $147,485,217 · Grants $8,913,970 · Revenue $8,457,104
-
OTHER INSTITUTIONAL ACTIVITY - WHEN ACTIVITIES ARE UNDERTAKEN BY THE INSTITUTION WITHOUT OUTSIDE SUPPORT, THEY MAY BE CLASSIFIED AS OTHER INSTITUTIONAL ACTIVITIES. OIA TYPICALLY INCLUDES AUXILIARY ENTERPRISES IN SUPPORT OF ACTIVITIES WHICH INCLUDE: STUDENT UNIONS, DINING HALLS, ATHLETICS, RESIDENCE HALLS, THEATRES, ETC.
Expenses $48,512,487 · Grants $159,808 · Revenue $7,679,958
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Abel Valenzuela JrABEL VALENZUELA JR
BOARD MEMBER-AS OF 07/01/22
- Total calculated
- $0
- Hours/week
- 0.2
-
Ayman El-MohandesAYMAN EL-MOHANDES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Chauncy H LennonCHAUNCY H LENNON
BOARD MEMBER-AS OF 07/01/22
- Total calculated
- $0
- Hours/week
- 0.2
-
David JeruzalmiDAVID JERUZALMI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Felix Matos Rodriguez
Chairperson
- Total calculated
- $0
- Hours/week
- 0.3
-
Kenneth AdamsKENNETH ADAMS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Lesley DavenportLESLEY DAVENPORT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Michelle J AndersonMICHELLE J ANDERSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Neil StahlNEIL STAHL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Richardo OtheguyRICHARDO OTHEGUY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Robin L GarrellROBIN L GARRELL
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.3
-
Rochelle RivesROCHELLE RIVES
BOARD MEMBER-AS OF 03/20/23
- Total calculated
- $0
- Hours/week
- 0.2
-
Ruth Noemi ColonRUTH NOEMI COLON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Sami SaumaSAMI SAUMA
BOARD MEMBER-GRAD STUDENT
- Total calculated
- $0
- Hours/week
- 0.2
-
Steven PenrodSTEVEN PENROD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Thomas A IsekenegbeTHOMAS A ISEKENEGBE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
William KellerWILLIAM KELLER
BOARD MEMBER-AS OF 03/24/23
- Total calculated
- $214
- From this org
- $214
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.2
-
Gavita D HarrisGAVITA D HARRIS
CHIEF FINANCIAL OFFICER
- Total calculated
- $282,207
- From this org
- $222,739
- From related orgs
- $0
- Other
- $59,468
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $222,049
- Bonus
- $0
- Other
- $690
- Deferred
- $22,971
- Nontaxable benefits
- $36,497
- Filer's total
- $282,207
-
Hector R Cordero-GuzmanHECTOR R CORDERO-GUZMAN
PRESIDENT
- Total calculated
- $329,465
- From this org
- $305,210
- From related orgs
- $0
- Other
- $24,255
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $304,027
- Bonus
- $0
- Other
- $1,183
- Deferred
- $0
- Nontaxable benefits
- $24,255
- Filer's total
- $329,465
-
Jacek OlszewskiJACEK OLSZEWSKI
CHIEF INFORMATION OFFICER
- Total calculated
- $266,028
- From this org
- $217,946
- From related orgs
- $0
- Other
- $48,082
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $201,080
- Bonus
- $0
- Other
- $16,866
- Deferred
- $22,185
- Nontaxable benefits
- $25,897
- Filer's total
- $266,028
-
Jeffrey I SlonimJEFFREY I SLONIM
CHIEF COUNSEL & SECRETARY- thru 10/27/22
- Total calculated
- $274,204
- From this org
- $247,831
- From related orgs
- $0
- Other
- $26,373
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $240,180
- Bonus
- $0
- Other
- $7,651
- Deferred
- $24,232
- Nontaxable benefits
- $2,141
- Filer's total
- $274,204
-
Jerry F SteeleJERRY F STEELE
CHIEF OPERATING OFFICER - thru 06/30/23
- Total calculated
- $303,613
- From this org
- $249,768
- From related orgs
- $0
- Other
- $53,845
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $242,806
- Bonus
- $0
- Other
- $6,962
- Deferred
- $25,212
- Nontaxable benefits
- $28,633
- Filer's total
- $303,613
-
Matthew R DrostMATTHEW R DROST
CHIEF COUNSEL & SECRETARY - AS OF 11/07/2022
- Total calculated
- $194,490
- From this org
- $161,023
- From related orgs
- $0
- Other
- $33,467
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $160,746
- Bonus
- $0
- Other
- $277
- Deferred
- $16,805
- Nontaxable benefits
- $16,662
- Filer's total
- $194,490
-
Doliski A MozeleskiDOLISKI A MOZELESKI
ASSOCIATE GRANTS DIRECTOR - CITY COLLEGE
- Total calculated
- $338,264
- From this org
- $293,523
- From related orgs
- $0
- Other
- $44,741
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $293,523
- Bonus
- $0
- Other
- $0
- Deferred
- $29,924
- Nontaxable benefits
- $14,817
- Filer's total
- $338,264
-
John MogulescuJOHN MOGULESCU
CUNY SR. UNIVERSITY DEAN FOR ACADEMIC AFFAIRS
- Total calculated
- $242,197
- From this org
- $232,050
- From related orgs
- $0
- Other
- $10,147
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $226,881
- Bonus
- $0
- Other
- $5,169
- Deferred
- $9,154
- Nontaxable benefits
- $993
- Filer's total
- $242,197
-
Marc V ShawMARC V SHAW
CUNY PROJECT DIRECTOR
- Total calculated
- $298,098
- From this org
- $270,998
- From related orgs
- $0
- Other
- $27,100
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $250,673
- Bonus
- $0
- Other
- $20,325
- Deferred
- $27,100
- Nontaxable benefits
- $0
- Filer's total
- $298,098
-
Sherry M ClearySHERRY M CLEARY
RF PROJECT DIRECTOR
- Total calculated
- $294,977
- From this org
- $260,781
- From related orgs
- $0
- Other
- $34,196
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $260,781
- Bonus
- $0
- Other
- $0
- Deferred
- $26,317
- Nontaxable benefits
- $7,879
- Filer's total
- $294,977
-
Wendy E PatitucciWENDY E PATITUCCI
Senior Director of HR
- Total calculated
- $309,727
- From this org
- $296,386
- From related orgs
- $0
- Other
- $13,341
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $275,886
- Bonus
- $0
- Other
- $20,500
- Deferred
- $13,326
- Nontaxable benefits
- $15
- Filer's total
- $309,727
-
Jarnee M BramletteJARNEE M BRAMLETTE
FORMER CHIEF FINANCIAL OFFICER / INTERIM PRESIDENT (thru 12/31/2021)
- Total calculated
- $156,668
- From this org
- $142,425
- From related orgs
- $0
- Other
- $14,243
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- $142,425
- Bonus
- $0
- Other
- $0
- Deferred
- $14,243
- Nontaxable benefits
- $0
- Filer's total
- $156,668
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 · 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
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.
-
501(c)(3) · GRANT MANAGEMENT · NY · controlled entity
Directly controlled by RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK
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.
-
230 WEST 41ST STREET LLC
RENTAL REAL ESTATE · DE · income $14,392,146 · assets $85,947,561
Directly controlled by RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 14 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401359349311470
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.