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Nonprofiteer
← FIORELLO H LAGUARDIA COMMUNITY

Form 990 for tax year 2023

Filed by FIORELLO H LAGUARDIA COMMUNITY.

Totals

Total revenue
$4,030,551
Total expenses
$4,719,747
Contributions and grants received
$3,568,114
Grants paid
$3,233,644
Program service revenue
$0
Investment income
$462,437
Other revenue
$0
Total assets, end of year
$16,579,881
Total liabilities, end of year
$743,832
Net assets or fund balances, end of year
$15,836,049
Program services expenses (Part IX)
$4,229,566
Management and general expenses
$467,593
Fundraising expenses
$22,588
Program service expenses (Part III)
$4,229,566

Program services were 89.6% 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.

  • 1f · All other contributions, gifts and grants

    $3,568,114

  • 3 · Investment income

    total $334,308 · excluded $334,308

  • 7a · Gross sales of assets other than inventory

    securities $128,129

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

    securities $0

  • 7c · Gain or loss

    securities $128,129

  • 7d · Net gain or loss

    total $128,129 · excluded $128,129

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,233,644 · program services $3,233,644

  • 7 · Other salaries and wages

    total $501,620 · program services $501,620

  • 11g · Fees: other

    total $57,025 · management and general $57,025

  • 13 · Office expenses

    total $6,266 · management and general $6,266

  • 19 · Conferences, conventions and meetings

    total $17,646 · management and general $17,646

  • 23 · Insurance

    total $10,171 · management and general $10,171

  • 24a · Other expenses: INDIRECT STUDENT AID

    total $494,351 · program services $494,351

  • 24b · Other expenses: MISCELLANEOUS

    total $344,494 · program services -$49 · management and general $344,543

  • 24c · Other expenses: BAD DEBT

    total $23,967 · management and general $23,967

  • 24d · Other expenses: FUNDRAISING

    total $22,588 · fundraising $22,588

  • 24e · All other expenses

    total $7,975 · management and general $7,975

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $423,069 · end of year $837,471

  • 2 · Savings and temporary cash investments

    beginning of year $1,146,662

  • 4 · Accounts receivable

    beginning of year $1,957,725 · end of year $1,611,373

  • 9 · Prepaid expenses and deferred charges

    beginning of year $266,434 · end of year $206,697

  • 11 · Investments: publicly traded securities

    beginning of year $12,895,211 · end of year $13,924,340

  • 17 · Accounts payable and accrued expenses

    beginning of year $464,671 · end of year $396,056

  • 19 · Deferred revenue

    beginning of year $150,454 · end of year $347,776

  • 27 · Net assets without donor restrictions

    beginning of year $9,711,554 · end of year $8,654,116

  • 28 · Net assets with donor restrictions

    beginning of year $6,362,422 · end of year $7,181,933

Mission and programs · 2023

Mission

THE FOUNDATION WAS INCORPORATED IN 2003 AS A 501(C)(3) NOT-FOR-PROFIT ORGANIZATION. ITS MISSION IS TO RAISE , MANAGE, INVEST, AND DISTRIBUTE FUNDS FOR THE COLLEGE IN SUPPORT OF ITS IMMEDIATE AND LONG-TERM STUDENT, ACADEMIC, AND FACILITY NEEDS.

Activities or mission (Part I)

TO SUPPORT AND ENCOURAGE THE STUDENTS OF LAGUARDIA COMMUNITY COLLEGE IN THEIR ACADEMIC ENDEAVORS.

  • TO SUPPORT AND ADVANCE THE EDUCATION, RESEARCH, AND PUBLIC SERVICE MISSION OF FIORELLO H. LAGUARDIA COMMUNITY COLLEGE BY FUNDING SCHOLARSHIPS AND AWARDS AND PROVIDING ACADEMIC PROGRAMS FOR THE BENEFIT OF ITS STUDENTS.

    Expenses $4,229,566 · Grants $3,233,644

As filed on the 2023 return.

Listed in Part VII

  • Kenneth Adams

    PRESIDENT

    Total calculated
    $193,669
    From this org
    $0
    From related orgs
    $160,200
    Other
    $33,469
    Hours/week
    2 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $160,200 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $33,469 related
    Filer's total
    $0 + $193,669 related

  • Sunil Gupta

    BOARD MEMBER DIRECTOR

    Total calculated
    $162,137
    From this org
    $0
    From related orgs
    $160,200
    Other
    $1,937
    Hours/week
    2 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $160,200 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $1,937 related
    Filer's total
    $0 + $162,137 related

  • Charles E Boyce

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Joel Glasky

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Ernest Von Simson

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Rachel Hines

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Sara Darehshori

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Nicolas Nicolaou

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Priscilla Alexander

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Julia Bator

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Marlene Debel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey Fine

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jane Greene

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Geoff Judge

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Suzie Scanlon Esq

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Yifei Shen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Charles Simon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Eric Slovin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jay Golan

    EXECUTIVE DIRECTOR

    Total calculated
    $162,137
    From this org
    $0
    From related orgs
    $160,200
    Other
    $1,937
    Hours/week
    2 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $160,200 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $1,937 related
    Filer's total
    $0 + $162,137 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

None.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
22 January 2025
IRS schema version
2023v6.0
Source object
202530229349300618

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