2024-11-07T09:55:47-06:00 2024-06-30 201317788 BOWERS & COMPANY CPAS PLLC 333 W WASHINGTON ST SUITE 500 SYRACUSE NY 13202 990 2023-07-01 237392114 CANTON COLLEGE FOUNDATION INC CANT 3153867127 34 CORNELL DRIVE CANTON NY 13617 TRACEY THOMPSON EXECUTIVE DIRECTOR 3153867127 2024-11-06 1 1 RICHARD FARLEY JR CPA P01083459 3152341100 2024-11-06 2023 2024-10-15 13:58:12Z TRACEY THOMPSON 34 CORNELL DRIVE CANTON NY 13617 8423992 0 X WWW.CANTON.EDU/FOUNDATION X 1973 NY SEE SCHEDULE O 33 27 35 50 0 0 1605005 1366078 2965902 3106275 587000 1280700 5184 11644 5163091 5764697 1375841 1497446 0 0 879908 919251 0 0 193659 2237641 2033206 4493390 4449903 669701 1314794 42332952 43741795 22905882 22058031 19427070 21683764 X THE CANTON FOUNDATION WAS FORMED IN 1973 TO PROVIDE FINANCIAL SUPPORT TO THE STATE UNIVERSITY OF NEW YORK AT CANTON. THE FOUNDATION PROVIDES STUDENT SCHOLARSHIPS, SUPPORTS FACULTY AND STAFF DEVELOPMENT, AND PROMOTES CAMPUS ENHANCEMENT PROJECTS. 0 0 1900364 3102067 REAL PROPERTY MANAGEMENT - CANTON COLLEGE FOUNDATION IS SOLE OWNER OF GRASSE RIVER, LLC, HEMLOCK ACRES, LLC, AND RIVER ROO, LLC. THE PRIMARY PURPOSE OF THESE ORGANIZATIONS IS TO ACQUIRE, MAINTAIN, AND MANAGE REAL PROPERTY FOR THE BENEFIT OF THE COLLEGE. RENTAL REVENUES AND RELATED EXPENSES ARE FROM STUDENT HOUSING DEVELOPED AND MANAGED BY GRASSE RIVER, LLC, AND LAND RENT FROM HEMLOCK ACRES, LLC. 2070513 1497446 3858 SEE SCHEDULE O 350 CANTON COLLEGE FOUNDATION, INC. PROVIDES EMERGENCY STUDENT LOANS OF A MAXIMUM OF $400 PER LOAN TO STUDENTS OF THE STATE UNIVERSITY OF NEW YORK AT CANTON. THE CRITERIA FOR OBTAINING THESE LOANS IS DEMONSTRATED NEED AND AVAILABLE FUTURE FUNDS RECEIVABLE BY THE FINANCIAL AID OFFICE AT SUNY CANTON. THESE LOANS ARE REPAID TO CANTON COLLEGE FOUNDATION BY SUNY CANTON UPON RECEIPT BY SUNY CANTON OF FINANCIAL AID OR OTHER FUNDS ON BEHALF OF THE STUDENT. CANTON COLLEGE FOUNDATION, INC. CHARGES THE STUDENT A SMALL PROCESSING FEE PER LOAN FOR THIS SERVICE. 3970877 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 1 42 0 35 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 33 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X TRACEY L THOMPSON 3153867205 34 CORNELL DRIVE CANTON NY 13617 BERNARD C REGAN DIRECTOR 1.00 1.00 X 0 0 0 ANNE C WILLIAMS CHAIR 1.00 1.00 X X 0 0 0 LAURA E ROZELL TREASURER 1.00 1.00 X X 0 0 0 PRISCILLA COLLINS SECRETARY 1.00 40.00 X X 0 78836 52860 DR D ANTHONY BEANE DIRECTOR 1.00 1.00 X 0 0 0 TAMARA R BULLOCK DIRECTOR 1.00 1.00 X 0 0 0 JOAN M EURTO DIRECTOR 1.00 1.00 X 0 0 0 DANIEL G FAY DIRECTOR 1.00 1.00 X 0 0 0 CHRISTINE D GRAY VICE CHAIR 1.00 1.00 X X 0 0 0 WALTER J HAIG DIRECTOR 1.00 1.00 X 0 0 0 MARTI K MACARTHUR DIRECTOR 1.00 1.00 X 0 0 0 JOHN G MAINES DIRECTOR 1.00 1.00 X 0 0 0 SHAWN K MILLER DIRECTOR 1.00 40.00 X 0 169632 113738 ORNELLA T PARKER DIRECTOR 1.00 1.00 X 0 0 0 RICHARD S PATRI DIRECTOR 1.00 1.00 X 0 0 0 MICHAEL QUENNEVILLE DIRECTOR 1.00 1.00 X 0 0 0 JON A RICHARDSON DIRECTOR 1.00 1.00 X 0 0 0 KEITH ROSSER DIRECTOR 1.00 1.00 X 0 0 0 DR ADRIENNE C RYGEL DIRECTOR 1.00 40.00 X 0 105840 70966 KAREN SPELLACY DIRECTOR 1.00 1.00 X 0 0 0 CARL W TRAINOR DIRECTOR 1.00 1.00 X 0 0 0 ROSELLA TODD VALENTINE DIRECTOR 1.00 1.00 X 0 0 0 GRACE E VESPER DIRECTOR 1.00 1.00 X 0 0 0 THOMAS V WALSH DIRECTOR 1.00 1.00 X 0 0 0 GUILFORD D WHITE DIRECTOR 1.00 1.00 X 0 0 0 THOMAS WOODSIDE DIRECTOR 1.00 1.00 X 0 0 0 DR ZVI SZAFRAN CAMPUS PRESIDENT 1.00 40.00 X X 0 300832 201708 TRACEY L THOMPSON EXECUTIVE DIRECTOR 1.00 40.00 X X 33393 110244 78496 MICHAEL BERMAN DIRECTOR 1.00 1.00 X 0 0 0 JOANNE FASSINGER DIRECTOR 1.00 1.00 X 0 0 0 DONALD GARRETT DIRECTOR 1.00 1.00 X 0 0 0 THOMAS RYAN DIRECTOR 1.00 1.00 X 0 0 0 DOUGLAS ZEIF DIRECTOR 1.00 1.00 X 0 0 0 LISA DONNELLY DIRECTOR OF FINANCIAL OPERATIONS 40.00 1.00 X 102222 0 14752 135615 765384 532520 1 0 1 0 0 67450 1298628 19770 1366078 RENTAL INCOME -STUDENT HOUSING 531110 3102067 3102067 FEES AND ACTIVITY INCOME 611710 4208 4208 3106275 617513 617513 3314871 2651684 663187 663187 663187 19255 7611 11644 11644 5764697 3106275 0 1292344 901389 901389 596057 596057 749480 546212 101634 101634 58304 29759 14273 14272 72344 28422 21961 21961 39123 22616 8253 8254 31273 31273 90339 68545 21794 250029 248425 1604 42856 21428 21428 568605 568605 507329 506931 398 105246 84553 20693 DUES AND SUBSCRIPTIONS 136463 93162 43301 REPAIRS AND MAINTENANCE 76135 76135 OTHER PROGRAM 71128 52586 18542 MISCELLANEOUS 58687 58687 95116 67365 1641 26110 4449903 3970877 285367 193659 897612 664755 3117038 3906853 619243 411568 82363 40211 58282 92125 22625464 6548547 16518625 16076917 19818673 21293420 431269 411594 789847 844352 42332952 43741795 341875 384052 22194394 21262196 369613 411783 22905882 22058031 X 2081022 2636862 17346048 19046902 19427070 21683764 42332952 43741795 1314794 941900 0 X X 0 1 X 1 0 X 1176167 1184053 2180318 1615537 1366078 7522153 7200 7200 7200 7200 7200 36000 1183367 1191253 2187518 1622737 1373278 7558153 7558153 339775 867431 485851 489411 617513 2799981 10358134 8058003 0.72970 0.75760 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 120649 X X 0 16357825 265347 1937406 431389 18129189 14969511 592559 1472884 677129 16357825 17137635 994225 -1921269 1241080 14969511 13845850 244920 3355346 308481 17137635 14214135 84477 72967 525729 13845850 1.00000 0 0 126500 126500 21693568 5850363 15843205 805396 698184 107212 16076917 CHARITABLE REMAINDER LIABILITY 411783 411783 X 6682935 941900 941900 5741035 31273 -7611 23662 5764697 4426241 7611 7611 4418630 31273 31273 4449903 PART III, LINE 4: ARTWORK CONSISTING OF PAINTINGS AND PICTURES OF THE LOCAL COMMUNITY, THE COLLEGE OVER ITS 100 YEAR HISTORY, AND OTHER MISCELLANEOUS PAINTINGS, PICTURES AND SCULPTURES HAVE BEEN DONATED IN PAST YEARS TO PRESERVE THE HISTORY OF THE COLLEGE, AS WELL AS BEAUTIFY THE CAMPUS BUILDINGS. PART V, LINE 4: THE ENDOWMENT FUNDS ARE HELD TO FUND SCHOLARSHIPS FOR STUDENTS OF THE COLLEGE, IN ACCORDANCE WITH DONOR STIPULATIONS RELATED TO EDUCATIONAL PROGRAMS, INDIVIDUAL STUDENT NEED, OR OTHER REQUIREMENTS. ALL ANNUAL EARNINGS DISTRIBUTIONS FROM ENDOWED FUNDS ARE DETERMINED BY THE GOVERNING BODY. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE IRC, THEREFORE, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE CODE. THE FOUNDATION PRESENTLY DISCLOSES OR RECOGNIZES INCOME TAX POSITIONS BASED ON MANAGEMENT'S ESTIMATE OF WHETHER IT IS REASONABLY POSSIBLE OR PROBABLE THAT A LIABILITY HAS BEEN INCURRED FOR UNRECOGNIZED INCOME TAXES. MANAGEMENT HAS CONCLUDED THAT THE FOUNDATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT IN ITS CONSOLIDATED FINANCIAL STATEMENTS. U.S. FORMS 990 FILED BY THE FOUNDATION ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR THE PRECEDING 3 YEARS, GENERALLY 3 YEARS AFTER THE FORMS HAVE BEEN FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING DIRECT COSTS -7,611. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING DIRECT COSTS 7,611. 1 CANTON COLLEGE 34 CORNELL DRIVE CANTON NY 13617 146013200 501(C)(3) 881619 19770 FMV SERVICES, EQUIPMENT, MISC SCHOLARSHIPS & TO SUPPORT COLLEGE PROGRAMS 1 1 FACULTY/STAFF GRANTS 23 22466 ATHLETIC BOOSTER 281 280651 SMALL BUSINESS DEVELOPMENT GRANTS 12 6019 CAMPUS SUPPORT 53 252406 CAMPUS ENHANCEMENT SUPPORT 34 30515 TUITION ASSISTANCE 3 4000 FORM 990, PART III, COLUMN (B) SCHOLARSHIPS CANTON COLLEGE FOUNDATION ISSUES SCHOLARSHIPS TO BENEFIT STUDENTS OF SUNY CANTON DIRECTLY TO THE FINANCIAL AID OFFICE OF THE COLLEGE. THE FINANCIAL AID OFFICE APPLIES THE SCHOLARSHIP AWARD TO THE STUDENTS OUTSTANDING BALANCE WITH SUNY CANTON. OTHER INDIVIDUAL SCHOLARSHIPS ARE PAID DIRECTLY TO THE RECIPIENT IN THE FORM OF A CHECK AS A PROPERLY DOCUMENTED REIMBURSEMENT, OR PAID DIRECTLY TO A MERCHANT TO PURCHASE RELATED EQUIPMENT TO DIRECTLY BENEFIT A DEPARTMENT, PROGRAM OR THE CAMPUS. STUDENTS COMPLETE A SCHOLARSHIP APPLICATION WITH THE CANTON COLLEGE FOUNDATION TO REQUEST ASSISTANCE.THE FINANCIAL AID OFFICE OF SUNY CANTON VERIFIES ELIGIBILITY FOR STUDENTS FOR ANY NEED BASED SCHOLARSHIPS. A SCHOLARSHIP COMMITTEE MEETS TO REVIEW THE CRITERIA FOR EACH SCHOLARSHIP AWARD ALONG WITH EACH APPLICATION TO DETERMINE THE AWARD OF EACH SCHOLARSHIP. FACULTY/STAFF GRANTS AND AWARDS. CANTON COLLEGE FOUNDATION GAVE OUT 57 CAMPUS ENHANCEMENT/FACULTY STAFF AWARDS. IN-KIND EACH YEAR THE FOUNDATION CONTRIBUTES GIFTS IN-KIND TO THE SUNY COLLEGE AT CANTON. THE VARIOUS ITEMS DONATED MAY INCLUDE BEAUTIFICATION OF THE CAMPUS SUCH AS TREES AND SHRUBS, BOOKS FOR THE LIBRARY COLLECTION, REPAIRS MANUALS FOR THE AUTOMOTIVE TECHNOLOGY PROGRAM AND/OR VARIOUS OTHER ITEMS TO SUPPORT AND ENHANCE THE MISSION OF THE COLLEGE. 1 X X 0 0 0 0 0 0 0 0 0 DR ZVI SZAFRAN CAMPUS PRESIDENT 0 300832 0 0 0 0 0 31046 0 170662 0 502540 0 0 SHAWN K MILLER DIRECTOR 0 169632 0 0 0 0 0 17506 0 96232 0 283370 0 0 TRACEY L THOMPSON EXECUTIVE DIRECTOR 33393 110244 0 0 0 0 0 15955 0 62541 33393 188740 0 0 DR ADRIENNE C RYGEL DIRECTOR 0 105840 0 0 0 0 0 10923 0 60043 0 176806 0 0 A CANTON CAPITAL RESOURCE CORPORATION 272919473 000000000 2016-06-03 27931000 PRIOR BOND ADVANCE REFUNDING 0 0 0 A 7474400 27931000 29153834 570580 2016 0 1 1 1 A 1 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 X AUTOMOTIVE 7 17271 FMV X GIFT CARDS & EVENT TICKETS 15 953 FMV X EQUIPMENT 4 823 FMV X SUPPLIES & MATERIALS 1 723 FMV 0 0 0 FORM 990, PART 1, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: RAISE FUNDS, ACCEPT GIFTS AND PROVIDE BOTH MONETARY AND NON-MONETARY SUPPORT TO THE STUDENTS, FACULTY, STAFF, EDUCATIONAL PROGRAMS AND CAMPUS-WIDE EFFORTS OF THE STATE UNIVERSITY OF NEW YORK AT CANTON. FORM 990, PART III, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS A. TO ENCOURAGE, ACCEPT AND HOLD GIFTS MADE TO THE STATE UNIVERSITY OF NEW YORK (SUNY) AT CANTON IN THE FORM OF ANY AND ALL TYPES OF REAL OR PERSONAL PROPERTY. B. TO MANAGE SUCH PROPERTY RECEIVED IN (A) ABOVE AND COLLECT INCOME THERE FROM AND DISBURSE ANY OF THE SAME ONLY FOR THE PURPOSE OF ADVANCING THE WELFARE AND DEVELOPMENT OF SUNY CANTON. C. TO AID SUNY CANTON IN CARRYING OUT ITS COMMITMENT TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR ALL QUALIFIED INDIVDUALS. D. TO MAKE SUCH GRANTS AND AWARDS OF FINANCIAL ASSISTANCE TO THE STUDENTS, FACULTY, AND STAFF OF SAID COLLEGE AS SHALL BE CONSISTENT WITH THE PURPOSES AND POLICIES OF SUNY CANTON. E. TO MAKE SUCH GRANTS AND AWARDS OF FINANCIAL ASSISTANCE TO SAID COLLEGE AND TO ANY OTHER ORGANIZATION DULY AUTHORIZED BY THE COLLEGE TO CARRY ON CHARITABLE EDUCATIONAL ACTIVITIES, PROVIDING SAID ORGANIZATION QUALIFIES AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE SERVICE CODE AND ITS REGULATIONS AS THEY NOW EXIST, OR AS THEY MAY HEREAFTER BE AMENDED. TO ACCOMPLISH THESE PURPOSES, CANTON COLLEGE FOUNDATION, INC. CARRIED ON THE FOLLOWING ACTIVITIES DURING THE FISCAL YEAR: 1. ACCEPTED IN-KIND GIFTS OF EQUIPMENT AND SUPPLIES AND TURNED THEM OVER TO SUNY CANTON FOR ITS EDUCATIONAL PROGRAMS. 2. FUNDED ACTIVITIES AND MADE GRANTS IN FURTHERANCE OF THE PROMOTION OF THE INSTITUTION AND PROGRAM DEVELOPMENT WITH THE CURRICULUM. 3. AWARDED FINANCIAL GRANTS AND WORK ASSISTANTSHIPS TO STUDENTS IN NEED BASED ON STIPULATED SELECTION CRITERIA. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE FOR REVIEW AND COMMENT PRIOR TO FILING WITH THE IRS. THE AUDIT COMMITTEE REPORTS TO THE FULL BOARD ON THE FINDINGS OF THEIR REVIEW. THE FORM 990 IS AVAILABLE FOR ANY BOARD MEMBER TO REVIEW AT OUR OFFICES. ADDITIONALLY, THE FORM 990 IS POSTED ON THE N.Y.S. CHARITIES BUREAU WEBSITE FOR PUBLIC REVIEW AND INSPECTION. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS ARE ASKED ON AN ANNUAL BASIS TO DISCLOSE ANY CONFLICTS OF INTEREST THEY MAY HAVE WITH THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15 COMPARATIVE DATA IS COLLECTED FROM OTHER SUNY INSTITUTIONS FOR THE EXECUTIVE DIRECTOR AND KEY EMPLOYEES. THIS INFORMATION IS SHARED WITH THE BOARD CHAIR AS WELL AS THE PRESIDENT OF SUNY CANTON. BOTH INDIVIDUALS APPROVE THE COMPENSATION OF THE EXECUTIVE DIRECTOR. DATA FOR KEY EMPLOYEES IS PROVIDED TO THE EXECUTIVE DIRECTOR AND BOARD CHAIR TO ESTABLISH COMPENSATION FOR THOSE INDIVIDUALS. EXECUTIVE DIRECTOR PERFORMANCE IS REVIEWED ANNUALLY BY THE PRESIDENT AND THE FOUNDATION BOARD. KEY EMPLOYEE ANNUAL PERFORAMANCE IS REVIEWED BY THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 ALL POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC REVIEW UPON REQUEST AT OUR OFFICES LOCATED AT 34 CORNELL DRIVE, CANTON, NY 13617. ADDITIONALLY, AUDITED FINANCIAL STATEMENTS AND 990 FILINGS ARE POSTED ON THE NYS ATTORNEY GENERAL CHARITIES BUREAU WEBSITE AS REQUIRED BY LAW. FORM 990 PART XII LINE 2C: NO CHANGES HAVE TAKEN PLACE DURING THE FISCAL YEAR ENDED JUNE 30, 2024. HEMLOCK ACRES LLC 34 CORNELL DRIVE CANTON NY 13617 261597825 REAL PROPERTY HOLDER NY 0 105533 CC FOUNDATION GRASSE RIVER LLC 34 CORNELL DRIVE CANTON NY 13617 263432695 PROPERTY LEASEHOLDER NY 3204132 20633179 CC FOUNDATION ROO RIVER WOODS LLC 34 CORNELL DRIVE CANTON NY 13617 461060938 REAL PROPERTY HOLDER NY 0 -1234 CC FOUNDATION ADIRONDACK ROO LLC 34 CORNELL DRIVE CANTON NY 13617 461052643 REAL PROPERTY HOLDER NY 0 -966 CC FOUNDATION STATE UNIVERSITY OF NY AT CANTON 34 CORNELL DRIVE CANTON NY 13617 146013200 NYS UNIVERSITY NY 501(C)(3) LINE 2 N/A 0 COLLEGE ASSOCIATION AT SUNY CANTON 34 CORNELL DRIVE CANTON NY 13617 150554874 AUXILIARY SUPPORT NY 501(C)(3) LINE 12A, I N/A 0 SUNY CANTON ALUMNI ASSOCIATION INC 34 CORNELL DRIVE CANTON NY 13617 263417470 LEASEHOLDER NY CC FOUNDATION C -1080 1.00000 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 STATE UNIVERSITY OF NEW YORK AT CANTON B 901389 CASH & FMV STATE UNIVERSITY OF NEW YORK AT CANTON P 660543 EXPENSE COLLEGE ASSOCIATION AT SUNY CANTON C 100000 CASH