Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 3 · Investment income

  total $372,692 · excluded $372,692

• 6a · Gross rents

  real property $62,277,759

• 6b · Less rental expenses

  real property $65,076,510

• 6c · Rental income or loss

  real property -$2,798,751

• 6d · Net rental income or loss

  total -$2,798,751 · related or exempt -$2,798,751

• 11a · Other revenue: PAYMENT FROM NY CREATES

  total $48,204,583 · related or exempt $48,204,583

• 11e · Other revenue, total

  $48,204,583

Functional expenses

Part IX, the statement of functional expenses.

• 21 · Payments to affiliates

  total $10,115,909 · program services $10,115,909

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,998,261 · end of year $3,345,950

• 2 · Savings and temporary cash investments

  beginning of year $16,763,894 · end of year $18,065,510

• 4 · Accounts receivable

  beginning of year $4,098,907 · end of year $18,734,982

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,416,487 · end of year $120

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

  $1,026,266,899

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

  $567,778,636

• 10c · Land, buildings and equipment, net

  beginning of year $453,975,785 · end of year $458,488,263

• 15 · Other assets

  beginning of year $26,802,509 · end of year $30,173,907

• 17 · Accounts payable and accrued expenses

  beginning of year $3,865,257 · end of year $19,734,020

• 19 · Deferred revenue

  beginning of year $4,612,762 · end of year $4,496,722

• 23 · Secured mortgages and notes payable

  beginning of year $246,036,487 · end of year $217,265,573

• 25 · Other liabilities

  beginning of year $15,411,326 · end of year $14,519,791

• 27 · Net assets without donor restrictions

  beginning of year $236,891,608 · end of year $224,349,640

• 28 · Net assets with donor restrictions

  beginning of year $238,403 · end of year $48,442,986

The filer's explanations (Part III)

PART II - COMPENSATION FROM UNRELATED ORGANIZATIONS

COMPENSATION FOR TIMOTHY TAYLOR AND CHRISTOPHER BORST, WAS PAID BY THE STATE UNIVERSITY OF NEW YORK, AN UNRELATED ENTITY. COMPENSATION FOR DOUG GROSE WAS PAID BY NY CREATES AS AN INDEPENDENT CONTRACTOR. DOUG GROSE' COMPENSATION REPORTED WAS FOR CALENDAR YEAR 2023 PRIOR TO HIM BECOMING CHAIRMAN OF THE BOARD IN MAY 2024. COMPENSATION FOR THE OTHER PEOPLE LISTED WAS PAID BY THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK, ANOTHER UNRELATED ENTITY, AND WAS WHOLLY OR PARTIALLY REIMBURSED BY THE CORPORATION. THE COMPENSATION REPORTED ON SCHEDULE J PART II IS THE FULL COMPENSATION PAID TO EACH INDIVIDUAL. THE HOURS LISTED ON PART VII AS BEING DEVOTED TO THE ORGANIZATION AND RELATED ORGANIZATIONS, MAY BE LESS THAN 40 HOURS, AS ONLY A PORTION OF THEIR TIME WAS SPENT WORKING FOR THE REPORTING ORGANIZATION AND ITS RELATED ORGANIZATIONS, AS REPORTED ON SCHEDULE R.