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← RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK

Form 990 for tax year 2022

Filed by RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK.

Totals

Total revenue
$1,395,404,960
Total expenses
$1,357,481,624
Contributions and grants received
$1,157,026,914
Grants paid
$0
Program service revenue
$191,795,381
Investment income
$18,199,710
Other revenue
$28,382,955
Total assets, end of year
$1,528,226,855
Total liabilities, end of year
$700,087,434
Net assets or fund balances, end of year
$828,139,421
Program services expenses (Part IX)
$1,173,493,350
Management and general expenses
$183,988,274
Fundraising expenses
$0
Program service expenses (Part III)
$1,173,493,350

Program services were 86.4% 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)

    $708,372,095

  • 1f · All other contributions, gifts and grants

    $448,654,819

  • 1g · Noncash contributions included above

    $43,035

  • 2a · Program service revenue: AGENCY ACTIVITY

    total $191,795,381 · related or exempt $191,795,381

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $10,467,686 · unrelated business $25,195 · excluded $10,442,491

  • 5 · Royalties

    total $4,972,189 · excluded $4,972,189

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $26,595,126 · other assets $11,371,739

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

    securities $19,078,840 · other assets $11,156,001

  • 7c · Gain or loss

    securities $7,516,286 · other assets $215,738

  • 7d · Net gain or loss

    total $7,732,024 · excluded $7,732,024

  • 11a · Other revenue: AGENCY FEES

    total $6,969,783 · related or exempt $6,969,783

  • 11b · Other revenue: SERVICE CENTER REVENUE

    total $7,747,009 · related or exempt $5,500,311 · unrelated business $2,246,698

  • 11d · All other revenue

    total $8,693,974 · related or exempt $8,693,974 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $23,410,766

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,655,603 · management and general $1,655,603

  • 6 · Compensation of disqualified persons

    total $123,414 · program services $123,414

  • 7 · Other salaries and wages

    total $512,912,813 · program services $437,721,268 · management and general $75,191,545

  • 8 · Pension plan contributions

    total $32,217,308 · program services $27,407,035 · management and general $4,810,273

  • 9 · Other employee benefits

    total $126,968,909 · program services $104,602,998 · management and general $22,365,911

  • 10 · Payroll taxes

    total $32,495,228 · program services $27,643,460 · management and general $4,851,768

  • 11b · Fees: legal

    total $1,348,310 · program services $188,849 · management and general $1,159,461

  • 11c · Fees: accounting

    total $313,464 · program services $19,919 · management and general $293,545

  • 11d · Fees: lobbying

    total $135,783 · management and general $135,783

  • 11f · Fees: investment management

    total $2,545,934 · management and general $2,545,934

  • 11g · Fees: other

    total $96,279,106 · program services $81,969,505 · management and general $14,309,601 · fundraising $0

  • 12 · Advertising and promotion

    total $2,301,772 · program services $874,159 · management and general $1,427,613

  • 13 · Office expenses

    total $100,289,324 · program services $91,283,165 · management and general $9,006,159

  • 14 · Information technology

    total $12,143,770 · program services $3,781,582 · management and general $8,362,188

  • 15 · Royalties

    total $6,128,608 · program services $6,128,608

  • 16 · Occupancy

    total $44,247,217 · program services $38,204,774 · management and general $6,042,443

  • 17 · Travel

    total $16,994,532 · program services $14,248,033 · management and general $2,746,499

  • 19 · Conferences, conventions and meetings

    total $7,583,777 · program services $5,640,140 · management and general $1,943,637

  • 20 · Interest

    total $17,092,790 · program services $14,142,783 · management and general $2,950,007

  • 22 · Depreciation, depletion and amortization

    total $91,376,154 · program services $87,063,228 · management and general $4,312,926

  • 23 · Insurance

    total $1,934,400 · program services $442,923 · management and general $1,491,477

  • 24a · Other expenses: SUBCONTRACTS

    total $118,593,383 · program services $118,386,026 · management and general $207,357

  • 24b · Other expenses: TUITION AND FEES

    total $23,119,083 · program services $22,449,161 · management and general $669,922

  • 24c · Other expenses: FELLOWSHIPS

    total $21,176,859 · program services $20,458,504 · management and general $718,355

  • 24d · Other expenses: EQUIPMENT

    total $40,065,249 · program services $33,736,579 · management and general $6,328,670

  • 24e · All other expenses

    total $47,438,834 · program services $36,977,237 · management and general $10,461,597 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $118,817,104 · end of year $61,572,114

  • 3 · Pledges and grants receivable

    beginning of year $191,400,649 · end of year $224,378,891

  • 4 · Accounts receivable

    beginning of year $18,258,400 · end of year $21,288,059

  • 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 $2,997 · end of year $1,513

  • 9 · Prepaid expenses and deferred charges

    beginning of year $57,310 · end of year $61,163

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

    $991,573,472

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

    $523,963,197

  • 10c · Land, buildings and equipment, net

    beginning of year $525,464,494 · end of year $467,610,275

  • 11 · Investments: publicly traded securities

    beginning of year $178,819,311 · end of year $205,948,734

  • 12 · Investments: other securities

    beginning of year $379,891,307 · end of year $385,289,802

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $7,232,548 · end of year $5,202,577

  • 15 · Other assets

    beginning of year $16,824,259 · end of year $156,873,727

  • 17 · Accounts payable and accrued expenses

    beginning of year $158,544,195 · end of year $146,191,530

  • 19 · Deferred revenue

    beginning of year $309,200,616 · end of year $262,521,279

  • 20 · Tax-exempt bond liabilities

    beginning of year $3,165,000 · end of year $2,920,000

  • 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 $181,742,630 · end of year $159,153,559

  • 24 · Unsecured notes and loans payable

    beginning of year $9,500,000 · end of year $1,570,000

  • 25 · Other liabilities

    beginning of year $27,512,841 · end of year $127,731,066

  • 27 · Net assets without donor restrictions

    beginning of year $726,689,959 · end of year $797,197,175

  • 28 · Net assets with donor restrictions

    beginning of year $20,413,138 · end of year $30,942,246

Mission and programs · 2022

Mission

SEE SCHEDULE O

  • RESEARCH- PROGRAM SERVICE ACCOMPLISHMENTS- SEE SCHEDULE O

    Expenses $711,902,024 · Revenue $769,724

  • PUBLIC SERVICE- PROGRAM SERVICE ACCOMPLISHMENTS- SEE SCHEDULE O

    Expenses $110,210,438 · Revenue $512,441

  • TRAINING AND EDUCATION- PROGRAM SERVICE ACCOMPLISHMENTS - SEE SCHEDULE O

    Expenses $88,651,932 · Revenue $8

  • THE RF PROVIDES SERVICES TO CAMPUS-RELATED ORGANIZATIONS ACROSS 31 SUNY LOCATIONS AND TO RF AFFILIATES - SEPARATE, PRIVATE CORPORATIONS THAT SUPPORT CAMPUS GOALS TO CONDUCT COLLABORATIVE RESEARCH PROJECTS, EMPOWER SMALL BUSINESS INCUBATION, AND MANAGE AND DEVELOP REAL ESTATE. THE RF OFFERS HUMAN RESOURCES/PAYROLL AND PURCHASING/PAYABLES ADMINISTRATIVE SERVICES TO THESE ORGANIZATIONS. CAMPUS-RELATED ORGANIZATIONS ARE CREATED TO SUPPORT SUNY'S MISSION; EXAMPLES OF SUCH ORGANIZATIONS ARE CAMPUS FOUNDATIONS AND CLINICAL PRACTICE PLANS AT THE SUNY MEDICAL INSTITUTIONS. APPROXIMATELY 1,800 INDIVIDUALS WERE EMPLOYED BY THE RF FOR THESE PROGRAM SERVICES. THE RF ALSO ADMINISTERS GRANTS AND CONTRACTS SUCH AS SCHOLARSHIPS AND FELLOWSHIPS FOR SUNY STUDENTS THAT ARE FUNDED BY EXTERNAL SPONSORS AND ADMINISTERS PROGRAMS SUCH AS THE SUNY TECHNOLOGY ACCELERATOR FUND (TAF), WHICH ENABLES FACULTY INVENTORS AND SCIENTISTS TO DEMONSTRATE THAT THEIR PROMISING IDEAS HAVE COMMERCIAL POTENTIAL THROUGH FEASIBILITY STUDIES, PROTOTYPING, AND TESTING. THE REMAINING APPROXIMATELY 2,800 INDIVIDUALS EMPLOYED BY THE RF WERE MAINLY CORPORATE STAFF SUPPORTING THE PROGRAMS DESCRIBED IN LINES 4A THROUGH 4D. FOR MORE INFORMATION ABOUT THE RF GO TO WWW.RFSUNY.ORG.

    Expenses $262,728,956 · Revenue $213,923,974

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

Listed in Part VII

  • Col Timothy J Lawrence

    DIRECTOR (AS OF 09/2022)

    Total calculated
    $0
    Hours/week
    1

  • Dr Bahgat Sammakia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Dr Harvey Stenger

    DIRECTOR (THROUGH 2/2023)

    Total calculated
    $137,500
    From this org
    $125,000
    From related orgs
    $0
    Other
    $12,500
    Hours/week
    2

  • Dr Maurie D McInnis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Satish K Tripathi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mr Daniel C Tomson

    CHAIR

    Total calculated
    $0
    Hours/week
    9

  • Mr Edward Spiro

    DIRECTOR (AS OF 09/2022)

    Total calculated
    $0
    Hours/week
    5

  • Mr Eric L Cochran

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Mr Jeffrey Black

    DIRECTOR THROUGH 2/2023

    Total calculated
    $0
    Hours/week
    4

  • Mr Robert Megna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    7.5

  • Mr Robert P Balachandran

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Robert S Azeke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Diane M Minas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ms Eileen Whelley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Ms Heather Briccetti Mulligan

    DIRECTOR (AS OF 2/2023)

    Total calculated
    $0
    Hours/week
    1

  • Ms Hillary D Hansen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Jeffrey Cheek

    PRESIDENT & CHIEF EXECUTIVE OFFICER

    Total calculated
    $384,393
    From this org
    $345,877
    From related orgs
    $0
    Other
    $38,516
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $345,477
    Bonus
    $0
    Other
    $400
    Deferred
    $22,169
    Nontaxable benefits
    $16,347
    Filer's total
    $384,393

  • Mr Christopher Ashley

    GENERAL COUNSEL AND SECRETARY

    Total calculated
    $335,701
    From this org
    $282,983
    From related orgs
    $0
    Other
    $52,718
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $282,983
    Bonus
    $0
    Other
    $0
    Deferred
    $26,660
    Nontaxable benefits
    $26,058
    Filer's total
    $335,701

  • Mr Ryan P Farrell

    INTERIM CHIEF FINANCIAL OFFICER

    Total calculated
    $194,894
    From this org
    $166,205
    From related orgs
    $0
    Other
    $28,689
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $165,805
    Bonus
    $0
    Other
    $400
    Deferred
    $15,570
    Nontaxable benefits
    $13,119
    Filer's total
    $194,894

  • Ms Emily Kunchala

    CHIEF FINANCIAL OFFICER

    Total calculated
    $311,222
    From this org
    $244,213
    From related orgs
    $0
    Other
    $67,009
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $243,853
    Bonus
    $0
    Other
    $360
    Deferred
    $24,671
    Nontaxable benefits
    $42,338
    Filer's total
    $311,222

  • Mr Joshua Toas

    CHIEF COMPLIANCE OFFICER

    Total calculated
    $265,061
    From this org
    $214,623
    From related orgs
    $0
    Other
    $50,438
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $214,623
    Bonus
    $0
    Other
    $0
    Deferred
    $21,387
    Nontaxable benefits
    $29,051
    Filer's total
    $265,061

  • Mr David Anderson

    PRESIDENT NY CREATES

    Total calculated
    $310,240
    From this org
    $284,287
    From related orgs
    $0
    Other
    $25,953
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $284,277
    Bonus
    $0
    Other
    $10
    Deferred
    $12,072
    Nontaxable benefits
    $13,881
    Filer's total
    $310,240

  • Mr David Marcus

    CIO, STONY BROOK FOUNDATION

    Total calculated
    $508,279
    From this org
    $455,444
    From related orgs
    $0
    Other
    $52,835
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $425,444
    Bonus
    $30,000
    Other
    $0
    Deferred
    $21,969
    Nontaxable benefits
    $30,866
    Filer's total
    $508,279

  • Ms Diane Fischer

    AVP FOR ACADEMIC BUDGET AND FINANCIAL PLANNING

    Total calculated
    $313,015
    From this org
    $283,217
    From related orgs
    $0
    Other
    $29,798
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $283,217
    Bonus
    $0
    Other
    $0
    Deferred
    $28,367
    Nontaxable benefits
    $1,431
    Filer's total
    $313,015

  • Ms Eileen M Pezzi

    VP FOR DEVELOPMENT, UPSTATE MEDICAL UNIV

    Total calculated
    $408,224
    From this org
    $338,365
    From related orgs
    $0
    Other
    $69,859
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $308,365
    Bonus
    $30,000
    Other
    $0
    Deferred
    $27,855
    Nontaxable benefits
    $42,004
    Filer's total
    $408,224

  • Ms Lorraine L Manzella

    ADMN DIR UPSTATE UNIV MED ASSOCIATION

    Total calculated
    $341,459
    From this org
    $293,330
    From related orgs
    $0
    Other
    $48,129
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $293,330
    Bonus
    $0
    Other
    $0
    Deferred
    $33,335
    Nontaxable benefits
    $14,794
    Filer's total
    $341,459

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Compensation Of President
THE PROCESS TO ESTABLISH THE RF PRESIDENT'S COMPENSATION IS DESCRIBED FURTHER IN SCHEDULE O.
Schedule J, Part I, Line 7 NON-FIXED PAYMENTS
NON-FIXED PAYMENTS (OTHER REPORTABLE COMPENSATION) INCLUDE PAYMENTS TO MS. EILLEEN PEZZI & MR. DAVID MARCUS FOR PERFORMANCE AWARDS. INDIVIDUAL INCENTIVES UNDER THE RF WELLNESS PROGRAM AND RECOGNITION AWARDS.

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Provenance

Return type
form_990
Tax year
2022
Filed
8 December 2023
IRS schema version
2022v5.0
Source object
202333429349300003

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