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Nonprofiteer
← FORT SCHUYLER MANAGEMENT CORPORATION

Form 990 for tax year 2022

Filed by FORT SCHUYLER MANAGEMENT CORPORATION.

Totals

Total revenue
$11,356,537
Total expenses
$3,903,738
Contributions and grants received
$8,956,194
Grants paid
$0
Program service revenue
$0
Investment income
$350,667
Other revenue
$2,049,676
Total assets, end of year
$111,862,852
Total liabilities, end of year
$75,776,505
Net assets or fund balances, end of year
$36,086,347
Program services expenses (Part IX)
$2,412,181
Management and general expenses
$1,491,557
Fundraising expenses
$0
Program service expenses (Part III)
$2,412,181

Program services were 61.8% 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)

    $1,677,130

  • 1f · All other contributions, gifts and grants

    $7,279,064

  • 3 · Investment income

    total $26,667 · excluded $26,667

  • 6a · Gross rents

    real property $5,529,915

  • 6b · Less rental expenses

    real property $8,049,323

  • 6c · Rental income or loss

    real property -$2,519,408

  • 6d · Net rental income or loss

    total -$2,519,408 · related or exempt -$2,519,408

  • 7a · Gross sales of assets other than inventory

    other assets $324,000

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

    other assets $0

  • 7c · Gain or loss

    other assets $324,000

  • 7d · Net gain or loss

    total $324,000 · related or exempt $324,000

  • 11a · Other revenue: PAYMENT FROM NY CREATES

    total $4,569,180 · related or exempt $4,569,180

  • 11b · Other revenue: LOSS FROM PARTNERSHIP

    total -$96 · unrelated business -$96

  • 11e · Other revenue, total

    $4,569,084

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $254,075 · program services $29,487 · management and general $224,588

  • 11c · Fees: accounting

    total $60,868 · management and general $60,868

  • 11g · Fees: other

    total $1,017,704 · program services $211,727 · management and general $805,977

  • 13 · Office expenses

    total $4,625 · management and general $4,625

  • 16 · Occupancy

    total $257 · program services $257

  • 17 · Travel

    total $20,923 · management and general $20,923

  • 23 · Insurance

    total $868,156 · program services $493,580 · management and general $374,576

  • 24a · Other expenses: ECONOMIC DEVELOPMENT CO

    total $1,677,130 · program services $1,677,130

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,285,874 · end of year $3,119,360

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $2,848,192 · end of year $2,751,191

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $71,615,397

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

    $48,748,723

  • 10c · Land, buildings and equipment, net

    beginning of year $23,718,808 · end of year $22,866,674

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $79,768,914 · end of year $83,125,627

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,278,049 · end of year $3,403,347

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $49,252,000 · end of year $54,822,056

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 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 $8,856,812 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $18,594,302 · end of year $17,551,102

  • 27 · Net assets without donor restrictions

    beginning of year $28,640,625 · end of year $36,086,347

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

FORT SCHUYLER MANAGEMENT CORPORATION WAS FORMED AND SHALL BE OPERATED EXCLUSIVELY FOR SCIENTIFIC, EDUCATIONAL, ECONOMIC DEVELOPMENT, AND CHARITABLE PURPOSES. IT ACHIEVES THIS OBJECTIVE BY FACILITATING RESEARCH AND ECONOMIC DEVELOPMENT ACTIVITIES RELATED TO THE RESEARCH AND EDUCATION MISSION OF SUNY BY PURCHASING, CONSTRUCTING, DEVELOPING AND MANAGING FACILITIES AND PROMOTING RESEARCH THEREIN WHICH SUPPORT THE ECONOMIC DEVELOPMENT, RESEARCH ACTIVITIES AND THE MISSION OF THE SUNY POLYTECHNIC INSTITUTE.

  • PROGRAM COSTS ARE INCURRED AS PART OF THE OVERALL MISSION OF THE CORPORATION AS A STATE UNIVERSITY OF NEW YORK AFFILIATE, ADVANCING THE ECONOMIC DEVELOPMENT AND EDUCATION AND WORKFORCE TRAINING OF THE STATE OF NEW YORK.

    Expenses $2,412,181 · Revenue $2,373,772

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Abbott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Anita Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Christine Chung

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Heather Hage

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Doreen Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Meng-Ling Hsiao

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Joan McDonald

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Kristin Proud

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Kenneth Tompkins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Patricia Arciero-Craig

    CAO, ACTING GENERAL COUNSEL

    Total calculated
    $307,869
    From this org
    $256,392
    From related orgs
    $0
    Other
    $51,477
    Hours/week
    15 + 17 related

    Schedule J breakdown matched by us

    Base
    $256,392
    Bonus
    $0
    Other
    $0
    Deferred
    $21,541
    Nontaxable benefits
    $29,936
    Filer's total
    $307,869

  • Timothy Taylor

    CFO

    Total calculated
    $306,545
    From this org
    $202,060
    From related orgs
    $0
    Other
    $104,485
    Hours/week
    9 + 16 related

    Schedule J breakdown matched by us

    Base
    $202,060
    Bonus
    $0
    Other
    $0
    Deferred
    $36,452
    Nontaxable benefits
    $68,033
    Filer's total
    $306,545

  • David Anderson

    PRESIDENT

    Total calculated
    $294,884
    From this org
    $284,287
    From related orgs
    $0
    Other
    $10,597
    Hours/week
    9 + 11 related

    Schedule J breakdown matched by us

    Base
    $284,287
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,597
    Filer's total
    $294,884

  • Paul Kelly

    COO

    Total calculated
    $250,245
    From this org
    $202,303
    From related orgs
    $0
    Other
    $47,942
    Hours/week
    3 + 5 related

    Schedule J breakdown matched by us

    Base
    $202,303
    Bonus
    $0
    Other
    $0
    Deferred
    $24,678
    Nontaxable benefits
    $23,264
    Filer's total
    $250,245

  • Patricia Bucklin

    SECRETARY

    Total calculated
    $184,074
    From this org
    $168,046
    From related orgs
    $0
    Other
    $16,028
    Hours/week
    19 + 21 related

    Schedule J breakdown matched by us

    Base
    $168,046
    Bonus
    $0
    Other
    $0
    Deferred
    $15,547
    Nontaxable benefits
    $481
    Filer's total
    $184,074

  • Scott Bateman

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Thomas Alfieri

    ASSOCIATE VICE PRESIDENT

    Total calculated
    $246,708
    From this org
    $209,871
    From related orgs
    $0
    Other
    $36,837
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,871
    Bonus
    $0
    Other
    $0
    Deferred
    $15,152
    Nontaxable benefits
    $21,685
    Filer's total
    $246,708

  • Doug Grose

    PAST PRES/CHAIRMAN, DIR

    Total calculated
    $183,076
    From this org
    $183,076
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $183,076
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $183,076

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

The filer's explanations (Part III)

PART II - COMPENSATION FROM UNRELATED ORGANIZATIONS
COMPENSATION FOR TIMOTHY TAYLOR WAS PAID BY THE STATE UNIVERSITY OF NEW YORK, AN UNRELATED ENTITY, AND WAS PARTIALLY REIMBURSED THROUGH A GRANT. COMPENSATION FOR DOUG GROSS WAS PAID BY NY CREATES A RELATED ENTITY AS AN INDEPENDENT CONTRACTOR. 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. A PORTION OF THEIR TIME WAS SPENT WORKING FOR THE REPORTING ORGANIZATIONS AND ITS RELATED ORGANIZATIONS, AS REPORTED ON SCHEDULE R.

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.

  • FULLER ROAD MANAGEMENT CORPORATION

    501(C)(25) · RE HOLDING · NY

  • NY CREATES

    501(C)(3) · SCIENTIFIC RESEARCH, EDUCATION, ECONOMIC DEVELOPMENT · NY

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.

  • QUAD C PHASE I LLC

    SUPP OF PROJ · NY · income $0 · assets $0

    Directly controlled by FORT SCHUYLER MANAGEMENT CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
6 May 2024
IRS schema version
2022v5.0
Source object
202441289349303124

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