2025-11-12T14:47:28-06:00 2025-06-30 113382843 TODRES & COMPANY LLP 400 POST AVENUE SUITE 205 WESTBURY NY 11590 990 2024-07-01 133683723 THE COLLEGE OF STATEN ISLAND FOUNDATION INC COLL 7189822365 2800 VICTORY BLVD 1A-210 STATEN ISLAND NY 10314 MICHAEL CUSICK BOARD PRESIDENT 7189822365 2025-10-31 1 0 S COOPERBERG CPA P00447750 5169973232 2025-10-31 2024 2025-03-06 01:10:19Z MICHAEL CUSICK 2800 VICTORY BLVD 1A-210 STATEN ISLAND NY 10314 3559968 0 X WWW.CSI.CUNY.EDU/FOUNDATION X 1992 NY TO ASSIST THE COLLEGE OF STATEN ISLAND BY DEVELOPING ANONGOING BASE OF SUPPORT FROM ALUMNI AND FRIENDS OF THE COLLEGE. 22 22 25 41 0 0 2896436 2117591 0 0 425840 1299004 46092 36256 3368368 3452851 846871 974980 0 0 211234 272353 0 0 15932 858032 942718 1916137 2190051 1452231 1262800 22601959 24557259 943213 730401 21658746 23826858 X THE FOUNDATION WAS ESTABLISHED TO STIMULATE AND STRENGTHEN COMMUNITY,CORPORATE AND FOUNDATION SUPPORT FOR PUBLIC HIGHER EDUCATION ON STATEN ISLAND AND TO SUPPORT THE COLLEGE OF STATEN ISLAND IN PROVIDING ITS STUDENTS WITH THE FINEST FACILITIES AND FACULTY AVAILABLE. 0 0 676202 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 FUNDING FOR THE CHAZANOFF SCHOOL OF BUSINESS EXPENSES RELATED TO THE ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS (AACSB) ACCREDITATION PROCESS, CAREER DEVELOPMENT INITIATIVES, THE ATHLETICS PROGRAM, INCLUDING UNIFORMS AND TRAVEL RELATED TO PARTICIPATION IN TOURNAMENTS, FACILITY IMPROVEMENTS WHICH THIS PAST YEAR INCLUDED A NEW STUDENT LOUNGE, SUPPORT FOR THE LIBRARY AND FOR THE DEPARTMENT OF SOCIAL WORK. 862478 862478 THESE EXPENSES REPRESENT THE COLLEGE OF STATEN ISLAND FOUNDATION'S ENDOWED AND NON-ENDOWED SCHOLARSHIPS AND AWARDS AT THE COLLEGE TO PROVIDE ACCESS TO FINANCIAL ASSISTANCE TO THE MANY QUALIFYING FULL-TIME AND PART-TIME STUDENTS. THE MANY SCHOLARSHIPS ALLOCATED BY THE COLLEGE OF STATEN ISLAND FOUNDATION ENSURE THAT THESE STUDENTS HAVE ACCESS TO A QUALITY HIGHER EDUCATION, REMARKABLE ACHIEVEMENTS, AND A BRIGHTER FUTURE. 112502 112502 THE COLLEGE OF STATEN ISLAND FOUNDATION IS COMMITTED TO SERVING THE COLLEGE COMMUNITY AND ITS WIDE RANGE OF TRADITIONAL AND NON-TRADITIONAL STUDENTS BY PROVIDING EMERGENCY FINANCIAL ASSISTANCE IN A TIMELY MANNER TO STUDENTS WHO REQUEST THE EMERGENCY FUNDS THROUGH A CERTIFIED COUNSELOR AT THE COLLEGE.IN ADDITION TO FINANCIAL ASSISTANCE, THE COLLEGE OF STATEN ISLAND IS PROVIDING EMERGENCY MEALS THROUGH THE FOOD INSECURITY AND HUNGER INITIATIVE. 121021 TO ASSIST THE COLLEGE OF STATEN ISLAND WITH ENHANCING RESOURCES,ENROLLMENT INITIATIVES, STUDENT ENGAGEMENT AND PROVIDING FUNDSTO PROMOTE THE VERRAZZANO HONORS PROGRAM. 121021 1772203 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 1 0 0 0 0 0 0 0 0 1 18 0 1 25 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 22 22 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 CHERYL ADOLPH EXECUTIVE DIRECTOR 14.00 X X 0 0 0 JACQUELINE ARMANI DIRECTOR 1.00 X 0 0 0 COMFORT ASANBE (EX-OFFICIO) DIRECTOR 1.00 X 0 0 0 ROBERT CATALANO TREASURER 3.00 X X 0 0 0 JAY CHAZANOFF DIRECTOR 1.00 X 0 0 0 JOSEPH CONTE DIRECTOR 1.00 X 0 0 0 MICHAEL CUSICK PRESIDENT 2.00 X X 0 0 0 SAMIR FARAG DIRECTOR 1.00 X 0 0 0 JOSEPH FRANZESE VICE PRESIDENT 2.00 X X 0 0 0 CAROLE GERVASI SECRETARY 1.00 X X 0 0 0 YOLANDA GLEASON DIRECTOR 1.00 X 0 0 0 BRIAN LALINE DIRECTOR 1.00 X 0 0 0 FRANK LOMBARDO 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 DOLORES MORRIS DIRECTOR 1.00 X 0 0 0 KATHLEEN PESILE DIRECTOR 1.00 X 0 0 0 YOLANDA RUDICH DIRECTOR 1.00 X 0 0 0 DIANE SAADEH 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 AMANDA STRANIERE DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 1 0 154356 1963235 116586 2117591 695481 695481 603523 0 603523 603523 603523 143373 154356 107117 36256 36256 3452851 0 0 1335260 974980 974980 263961 110683 153278 2342 2210 132 6050 6050 7710 454 7256 432 432 175638 175638 82943 55784 26828 331 21522 16773 103 4646 39155 28243 10912 67514 66980 74 460 2686 2686 PROGRAM EXPENSE 125198 122250 2948 COLLEGE SUPPORT 121021 121021 CATERING, FACILITY & EN 81847 77560 4287 LEASE EXPENSE 77660 68160 9500 139392 121055 12129 6208 2190051 1772203 401916 15932 811152 1366935 21354 15243 2226 4573 22818 58227 21607790 23052988 136619 59293 22601959 24557259 308865 534455 500466 155176 133882 40770 943213 730401 X 1181747 1415777 20476999 22411081 21658746 23826858 22601959 24557259 1262800 905312 0 X X 0 1 X 1 0 X 1168493 1201376 650608 2896436 2117591 8034504 1168493 1201376 650608 2896436 2117591 8034504 3192951 4841553 340675 341265 543564 581260 695481 2502245 10160 31685 76040 122360 132825 373070 10909819 0.44380 0.47580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 18639507 737457 1922522 143140 236443 437583 20482320 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 0.00000 0.80400 0.19600 0 0 0 OPERATING LEASES 40770 40770 X 4908440 905312 214841 511074 1631227 3277213 175638 175638 3452851 2740328 214841 511074 725915 2014413 175638 175638 2190051 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 403,957. EVENT EXPENSE - NET W/ REVENUE 107,117. PART XII, LINE 2D - OTHER ADJUSTMENTS: MANAGEMENT FEE REVENUE 403,957. EVENT EXPENSE - NET W/ REVENUE 107,117. ANNUAL BENEFIT 193755 84732 109023 10548 44429 8720 12427 GOLF OUTING 45375 22100 23275 910 13819 4 58599 47524 11075 3312 12952 297729 154356 143373 11458 61560 8720 25379 107117 36256 1 SCHOLARSHIPS AND AWARDS 652 862478 STUDENT FINANCIAL ASSISTANCE 129 112502 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 2025 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. X 2 116586 STOCK EXCHANGE 0 0 0 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 PROGRAM 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 RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.