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Nonprofiteer
← FIORELLO H LAGUARDIA COMMUNITY

Form 990 for tax year 2022

Filed by FIORELLO H LAGUARDIA COMMUNITY.

Totals

Total revenue
$5,519,423
Total expenses
$6,952,122
Contributions and grants received
$5,212,946
Grants paid
$5,103,760
Program service revenue
$0
Investment income
$306,477
Other revenue
$0
Total assets, end of year
$16,689,101
Total liabilities, end of year
$615,125
Net assets or fund balances, end of year
$16,073,976
Program services expenses (Part IX)
$6,612,648
Management and general expenses
$339,474
Fundraising expenses
$0
Program service expenses (Part III)
$6,612,648

Program services were 95.1% 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

    $5,212,946

  • 3 · Investment income

    total $179,862 · excluded $179,862

  • 7a · Gross sales of assets other than inventory

    securities $126,615

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

    securities $0

  • 7c · Gain or loss

    securities $126,615

  • 7d · Net gain or loss

    total $126,615 · excluded $126,615

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $5,103,760 · program services $5,103,760

  • 7 · Other salaries and wages

    total $795,476 · program services $764,301 · management and general $31,175

  • 11c · Fees: accounting

    total $10,633 · management and general $10,633

  • 11g · Fees: other

    total $50,000 · program services $50,000

  • 13 · Office expenses

    total $363 · management and general $363

  • 14 · Information technology

    total $379 · management and general $379

  • 17 · Travel

    total $6,577 · program services $6,577

  • 19 · Conferences, conventions and meetings

    total $13,454 · management and general $13,454

  • 23 · Insurance

    total $2,954 · management and general $2,954

  • 24a · Other expenses: PROGRAM EXPENSES

    total $566,326 · program services $564,321 · management and general $2,005

  • 24b · Other expenses: MISCELLANEOUS

    total $318,221 · program services $63,406 · management and general $254,815

  • 24c · Other expenses: GRANT EXPENSES

    total $37,280 · program services $37,280

  • 24d · Other expenses: SUPPLIES

    total $27,341 · program services $23,003 · management and general $4,338

  • 24e · All other expenses

    total $19,358 · management and general $19,358

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,907,900 · end of year $423,069

  • 2 · Savings and temporary cash investments

    beginning of year $1,931,600 · end of year $1,146,662

  • 4 · Accounts receivable

    beginning of year $3,233,872 · end of year $1,957,725

  • 9 · Prepaid expenses and deferred charges

    beginning of year $419,088 · end of year $266,434

  • 11 · Investments: publicly traded securities

    beginning of year $10,137,373 · end of year $12,895,211

  • 17 · Accounts payable and accrued expenses

    beginning of year $292,172 · end of year $464,671

  • 19 · Deferred revenue

    beginning of year $102,305 · end of year $150,454

  • 27 · Net assets without donor restrictions

    beginning of year $9,950,521 · end of year $9,711,554

  • 28 · Net assets with donor restrictions

    beginning of year $7,284,835 · end of year $6,362,422

Mission and programs · 2022

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, GOALS, AND PRIORITIES.

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 $6,612,648 · Grants $5,103,760

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

Listed in Part VII

  • Kenneth Adams

    PRESIDENT

    Total calculated
    $384,719
    From this org
    $0
    From related orgs
    $346,976
    Other
    $37,743
    Hours/week
    2 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,976 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,444 related
    Nontaxable benefits
    $0 + $7,299 related
    Filer's total
    $0 + $384,719 related

  • Sunil Gupta

    BOARD MEMBER

    Total calculated
    $204,699
    From this org
    $0
    From related orgs
    $187,281
    Other
    $17,418
    Hours/week
    2 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $187,281 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $15,679 related
    Nontaxable benefits
    $0 + $1,739 related
    Filer's total
    $0 + $204,699 related

  • Charles E Boyce

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Marlene Debel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Joel Glasky

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Julia Bator

    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

  • Rachel Hines

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Suzie Scanlon Esq

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Eric Slovin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey Fine

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Ernest Von Simson

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Lisa Selz

    HONORARY MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Cecila Briones

    HONORARY MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Marilyn Skony Stamm

    HONORARY MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Priscilla Alexander

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Yifei Shen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jay Golan

    EXECUTIVE DIRECTOR

    Total calculated
    $60,602
    From this org
    $0
    From related orgs
    $54,485
    Other
    $6,117
    Hours/week
    2 + 35 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
2022
Filed
15 January 2024
IRS schema version
2022v5.0
Source object
202440169349300434

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