2024-11-15T16:02:50-06:00 2024-06-30 474526160 EFPR GROUP CPAS PLLC 6390 MAIN STREET SUITE 200 WILLIAMSVILLE NY 14221 990 2023-07-01 133683723 THE COLLEGE OF STATEN ISLAND FOUNDATION INC COLL 7189822365 2800 VICTORY BLVD 1A-210 STATEN ISLAND NY 10314 JOSEPH FRANZESE BOARD PRESIDENT 7189822365 2024-11-11 1 0 DAVID A URBAN CPA P00630018 7166340700 2024-11-11 2023 2024-10-15 13:58:12Z JOSEPH FRANZESE 2800 VICTORY BLVD 1A-210 STATEN ISLAND NY 10314 3600056 0 X WWW.CSI.CUNY.EDU/FOUNDATION X 1992 NY TO ASSIST THE COLLEGE OF STATEN ISLAND BY DEVELOPING AN ONGOING BASE OF SUPPORT FROM ALUMNI AND FRIENDS OF THE COLLEGE. 19 19 22 40 0 0 650608 2896436 0 0 534446 425840 38962 46092 1224016 3368368 993036 846871 0 0 304275 211234 0 0 27825 658884 858032 1956195 1916137 -732179 1452231 19560960 22601959 1003257 943213 18557703 21658746 X THE FOUNDATION WAS ESTABLISHED TO STIMULATE AND STRENGTHEN COMMUNITY,CORPORATE AND FOUNDATION SUPPORT FOR PUBLIC HIGHER EDUCATION ON STATENISLAND AND TO SUPPORT THE COLLEGE OF STATEN ISLAND IN PROVIDING ITSSTUDENTS WITH THE FINEST FACILITIES AND FACULTY AVAILABLE. 0 0 656957 SEE SCHEDULE O:THESE EXPENSES REPRESENT THE FOUNDATION'S ACCOMPLISHMENTS IN ASSISTING THE COLLEGE OF STATEN ISLAND BY DEVELOPING AN ONGOING AND INCREASING BASE OF SUPPORT FROM THE COMMUNITY, INDIVIDUALS, CORPORATIONS AND FOUNDATIONS. THROUGH THIS PHILANTHROPIC SUPPORT, THE COLLEGE OF STATEN ISLAND FOUNDATION ALLOWS THE COLLEGE TO EXPAND ITS MARGIN OF EXCELLENCE WHICH ENSURES ITS STUDENTS, FACULTY, AND STAFF THE FINEST ACADEMIC FACILITIES AVAILABLE. SUCH EXAMPLES INCLUDE: FACILITY IMPROVEMENTS, THE CHAZANOFF SCHOOL OF BUSINESS EXPENSES RELATED TO THE ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS (AACSB) ACCREDITATION PROCESS, THE ATHLETICS PROGRAM, INCLUDING UNIFORMS AND TRAVEL RELATED TO PARTICIPATION IN TOURNAMENTS, SUPPORT FOR THE SCHOOL OF HEALTH SCIENCES, IN PARTICULAR THE DEPARTMENTS OF SOCIAL WORK AND NURSING AND SUPPORT FOR LIBRARY AND FOR CAREER DEVELOPMENT INITIATIVES. 712538 712538 THESE EXPENSES REPRESENT THE COLLEGE OF STATEN ISLAND FOUNDATION'SENDOWED AND NON-ENDOWED SCHOLARSHIPS AND AWARDS AT THE COLLEGE TOPROVIDE ACCESS TO FINANCIAL ASSISTANCE TO THE MANY QUALIFYING FULL-TIME AND PART-TIME STUDENTS. THE MANY SCHOLARSHIPS ALLOCATED BY THE COLLEGEOF STATEN ISLAND FOUNDATION ENSURE THAT THESE STUDENTS HAVE ACCESS TO AQUALITY HIGHER EDUCATION, REMARKABLE ACHIEVEMENTS, AND A BRIGHTER FUTURE. 134333 134333 THE COLLEGE OF STATEN ISLAND FOUNDATION IS COMMITTED TO SERVING THECOLLEGE COMMUNITY AND ITS WIDE RANGE OF TRADITIONAL AND NON-TRADITIONALSTUDENTS BY PROVIDING EMERGENCY FINANCIAL ASSISTANCE IN A TIMELY MANNERTO STUDENTS WHO REQUEST THE EMERGENCY FUNDS THROUGH A CERTIFIEDCOUNSELOR AT THE COLLEGE.IN ADDITION TO FINANCIAL ASSISTANCE, THE COLLEGE OF STATEN ISLAND IS PROVIDING EMERGENCY MEALS THROUGH THE FOOD INSECURITY AND HUNGER INITIATIVE. 25134 TO ASSIST THE COLLEGE OF STATEN ISLAND WITH ENHANCING RESOURCES, ENROLLMENT INITIATIVES AND PROVIDING FUNDS TO PROMOTE THE VERRAZZANO HONORS PROGRAM. 25134 1528962 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 22 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X LYNNE CURBELO 7189822469 2800 VICTORY BLVD 1A-210 STATEN ISLAND NY 10314 X ROBERT CATALANO TREASURER 3.00 X X 0 0 0 DOLORES MORRIS SECRETARY 2.00 X X 0 0 0 FRANK LOMBARDO VICE PRESIDENT 2.00 X X 0 0 0 COMFORT ASANBE (EX-OFFICIO) DIRECTOR 1.00 X 0 0 0 MARILYN CASELLI DIRECTOR 1.00 X 0 0 0 JAY CHAZANOFF DIRECTOR 1.00 X 0 0 0 JOSEPH CONTE DIRECTOR 1.00 X 0 0 0 MICHAEL CUSICK DIRECTOR 1.00 X 0 0 0 SAMIR FARAG DIRECTOR 1.00 X 0 0 0 CAROLE GERVASI DIRECTOR 1.00 X 0 0 0 YOLANDA GLEASON DIRECTOR 1.00 X 0 0 0 BRIAN LALINE DIRECTOR 1.00 X 0 0 0 TIMOTHY LYNCH (EX-OFFICIO) DIRECTOR 1.00 X 0 0 0 PATRICK MCDERMOTT DIRECTOR 1.00 X 0 0 0 KATHLEEN PESILE DIRECTOR 1.00 X 0 0 0 CARLOS SERRANO (EX-OFFICIO) DIRECTOR 1.00 X 0 0 0 VISHAL SHAH DIRECTOR 1.00 X 0 0 0 MICHAEL STEIPER (EX-OFFICIO) DIRECTOR 1.00 X 0 0 0 JOSEPH FRANZESE BOARD PRESIDENT 4.00 X 0 0 0 CHERYL ADOLPH EXECUTIVE DIRECTOR 14.00 X 0 0 0 0 0 0 0 0 0 1 0 79112 2817324 10029 2896436 581260 581260 155420 -155420 -155420 -155420 122360 79112 76268 46092 46092 3368368 0 0 471932 846871 846871 207409 65204 142205 1044 933 111 2781 2781 7453 347 7106 144674 144674 86078 54250 31828 30599 22541 8058 18815 7876 10939 46327 45950 25 352 2282 2282 EQUIPMENT EXPENSE 171878 171878 DUES, SUBSCRIPTIONS & M 98992 95457 3535 CATERING,FACILITY & ENT 81416 78416 700 2300 LEASE EXPENSE 67653 57070 10583 101865 79388 5362 17115 1916137 1528962 359350 27825 1151207 811152 13721 21354 53408 2226 84329 22818 18099155 21607790 159140 136619 19560960 22601959 150779 308865 686288 500466 166190 133882 1003257 943213 X 937874 1181747 17619829 20476999 18557703 21658746 19560960 22601959 1452231 1648812 0 X X 0 1 X 1 0 X 1447390 1168493 1201376 650608 2896436 7364303 1447390 1168493 1201376 650608 2896436 7364303 2703231 4661072 329451 340675 341265 543564 581260 2136215 54668 10160 31685 76040 122360 294913 9795431 0.47580 0.33710 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15600572 1964565 1757761 65785 211907 405699 18639507 15023662 101686 1171252 158210 262965 274853 15600572 17957692 200456 -2509178 157290 112007 356011 15023662 14662184 185820 3856228 143243 51665 551632 17957692 14252659 128436 757624 90164 14787 371584 14662184 0.00000 0.83700 0.16300 0 0 0 ANNUITIES PAYABLE 18031 OPERATING LEASES 115851 133882 X 5428770 1648812 158453 397811 2205076 3223694 144674 144674 3368368 2327727 158453 397811 556264 1771463 144674 144674 1916137 PART V, LINE 4: SCHOLARSHIPS AND SUPPORT FOR THE COLLEGE OF STATEN ISLAND. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; THEREFORE, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE 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 IT FINANCIAL STATEMENTS. U.S. FORMS 990 FILED BY THE FOUNDATION ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: MANAGEMENT FEE REVENUE 321,543. EVENT EXPENSE - NET W/REVENUE 76,268. PART XII, LINE 2D - OTHER ADJUSTMENTS: MANAGEMENT FEE EXPENSE 321,543. EVENT EXPENSE - NET W/REVENUE 76,268. ANNUAL BENEFIT 158766 62966 95800 1228 34775 500 24540 GOLF 32963 11588 21375 11740 270 2 9743 4558 5185 3015 200 201472 79112 122360 1228 49530 500 25010 76268 46092 1 SCHOLARSHIPS AND AWARDS 574 712538 STUDENT FINANCIAL ASSISTANCE 188 134333 PART I, LINE 2: THE FOUNDATION VOTES AT THEIR BOARD MEETINGS FOR SCHOLARSHIP AWARDS AND COLLEGE SUPPORT AMOUNTS BASED ON ENDOWMENT AND UNRESTRICTED ACTIVITY FOR THE PRIOR FISCAL YEAR. COMMITTEES ARE SET UP THROUGH THE OFFICE OF SCHOLARSHIP AND FELLOWSHIP OPPORTUNITIES TO EVALUATE AND MAKE THE DETERMINATION FOR DISTRIBUTING SCHOLARSHIP AWARDS. 0 0 0 0 0 0 0 0 0 PART VII, LINE 5 EXPLANATION: THE FOUNDATION'S EXECUTIVE DIRECTOR, CHERYL ADOLPH, RECEIVED A SALARY IN THE AMOUNT OF $58,000 FROM THE CITY UNIVERSITY OF NEW YORK, AN UNRELATED ORGANIZATION, IN FISCAL YEAR 2024 AS COMPENSATION FOR SERVICES PROVIDED TO THE FOUNDATION. THIS COMPENSATION WAS RECORDED ON THE FOUNDATION'S FINANCIAL STATEMENTS AS "DONATED SERVICES", AS THE FOUNDATION DID NOT REIMBURSE THE CITY UNIVERSITY OF NEW YORK. FORM 990, PART VI, SECTION B, LINE 11B THE GOVERNING BODY REVIEWED THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS MUST REVIEW THE CONFLICT OF INTEREST POLICY AND ATTEST TO THEIR ACCEPTANCE AND COMPLIANCE WITH THE POLICY ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR'S SALARY IS DETERMINED IN ACCORDANCE WITH CUNY COMPENSATION PROGRAMS FOR EXECUTIVES. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S POLICIES, BYLAWS, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE FOUNDATION'S OFFICES. FORM 990, PART XII, LINE 2C: THE FOUNDATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILTY FOR THE OVERSIGHT OF THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.