2024-04-19T10:57:16-05:00 2023-06-30 113266576 GRASSI & CO CPA'S PC 750 THIRD AVENUE 28TH FLOOR NEW YORK NY 10017 990 2022-07-01 116080521 QUEENS COLLEGE FOUNDATION INC QUEE 7189975408 65-30 KISSENA BOULEVARD FLUSHING NY 11367 LAURIE F DORF EXECUTIVE DIRECTOR 7189975408 2024-04-18 1 LAURIE DORF 999009999 0 JAIME RAPPS P01462990 2126616166 2024-04-18 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z LAURIE F DORF 65-30 KISSENA BOULEVARD FLUSHING NY 11367 49635121 0 X HTTP://WWW.QC.CUNY.EDU/SUPPORTQC X 1980 NY SEE SCHEDULE O THE FOUNDATION'S PRIMARY PURPOSE IS TO SOLICIT, MANAGE, AND ADMINISTER CONTRIBUTIONS MADE BY PRIVATE DONORS TO QUEENS COLLEGE OF THE CITY UNIVERSITY OF NEW YORK ("QUEENS COLLEGE"). 31 31 0 39 0 0 12687460 9330434 0 0 5408002 3170026 -49545 20291 18045917 12520751 3615858 4420422 0 0 2587252 2732820 0 0 868311 2968795 3685485 9171905 10838727 8874012 1682024 97271306 102852173 1631600 631491 95639706 102220682 X SEE SCHEDULE OTHE FOUNDATION'S PRIMARY PURPOSE IS TO SOLICIT, MANAGE, AND ADMINISTER CONTRIBUTIONS MADE BY PRIVATE DONORS TO THE COLLEGE. AS AN INTEGRAL PART OF ITS MISSION OF MAINTAINING AND STRENGTHENING THE ACADEMIC EXCELLENCE OF THE COLLEGE, THE FOUNDATION ADMINISTERS FUNDS,THE PROCEEDS OF WHICH ARE USED TO SUPPORT THE COLLEGE'S SERVICES AND ACTIVITIES NOT FULLY FUNDED BY STATE AND CITY TAX LEVIES, AS WELL AS EDUCATIONAL NEEDS SUCH AS SCHOLARSHIPS, SPECIAL ACADEMIC PROGRAMS AND OTHER ACTIVITIES. THE FOUNDATION ALSO MANAGES RESTRICTED AND ENDOWED GIFT ACCOUNTS AND ALLOCATES SUCH INCOME AS PRESCRIBED BY THE RESPECTIVE DONORS. 0 0 7822393 4420422 QUEENS COLLEGE FOUNDATION WAS FOUNDED IN 1980 FOR THE PURPOSE OF DEVELOPING AND INCREASING RESOURCES AT QUEENS COLLEGE TO PROVIDE MORE EXTENSIVE EDUCATIONAL OPPORTUNITIES TO STUDENTS AND SERVICES TO FACULTY. IT RECEIVES GIFTS AND GRANTS WITH WHICH IT FINANCES RESEARCH IN FIELDS OF INTELLECTUAL INQUIRY THAT ARE IN KEEPING WITH THE COLLEGE'S EDUCATIONAL OBJECTIVES IN ITS CONSTITUENT SCHOOLS. IT AWARDS AND ADMINISTERS SCHOLARSHIPS AND FELLOWSHIPS, AND ENGAGES IN EXPERIMENTAL EDUCATIONAL ACTIVITIES AND PROJECTS. 7822393 1 1 0 0 0 0 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 683 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 31 31 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CA CO KY MD MA ME MN NH NJ NV NY OH OK OR SC UT WA WV X MAUREEN GIANNOTTI 7189975408 65-30 KISSENA BOULEVARD FLUSHING NY 11367 LEE FENSTERSTOCK CHAIR 1.00 X X 0 0 0 CHAIM Z WACHSBERGER VICE CHAIR 1.00 X X 0 0 0 HOWARD SIPZNER TREASURER 1.00 X X 0 0 0 SAUL J KUPFERBERG SECRETARY 1.00 X X 0 0 0 AMBER A GUTH TRUSTEE 1.00 X 0 0 0 CAROL J HOCHMAN TRUSTEE 1.00 X 0 0 0 CELESTE A GUTH TRUSTEE 1.00 X 0 0 0 CHARLES SWARNS TRUSTEE 1.00 X 0 0 0 DAVID CHU TRUSTEE 1.00 X 0 0 0 DAVID I WEINER TRUSTEE 1.00 X 0 0 0 DAVID ROSEN TRUSTEE 1.00 X 0 0 0 DINA PERRY TRUSTEE 1.00 X 0 0 0 DONALD BROWNSTEIN TRUSTEE 1.00 X 0 0 0 DOUGLAS E RESS TRUSTEE 1.00 X 0 0 0 FREDA S JOHNSON TRUSTEE 1.00 X 0 0 0 GAIL A MARQUIS TRUSTEE 1.00 X 0 0 0 HARRIS M HOROWITZ TRUSTEE 1.00 X 0 0 0 IRA B LAMPERT TRUSTEE 1.00 X 0 0 0 JAMES A MITAROTONDA TRUSTEE 1.00 X 0 0 0 JAMIE KLEIN TRUSTEE 1.00 X 0 0 0 JULIUS MERCADO TRUSTEE 1.00 X 0 0 0 MARK E ROSE TRUSTEE 1.00 X 0 0 0 MAX RODRIGUEZ TRUSTEE 1.00 X 0 0 0 OLIVIER F NOEL TRUSTEE 1.00 X 0 0 0 RICHARD R BARAKAT TRUSTEE 1.00 X 0 0 0 ROBERT WANN TRUSTEE 1.00 X 0 0 0 RUSSELL M ARTZT TRUSTEE 1.00 X 0 0 0 STEPHANIE STIEFEL TRUSTEE 1.00 X 0 0 0 STEVEN DANIELS TRUSTEE 1.00 X 0 0 0 SUZZANE E BRENNER TRUSTEE 1.00 X 0 0 0 VICTORIA A FERNANDEZ TRUSTEE 1.00 X 0 0 0 FRANK H WU PRESIDENT 1.00 40.00 X 0 458902 108638 LAURIE DORF EXECUTIVE DIRECTOR 1.00 40.00 X 0 210508 56395 MAUREEN GIANNOTTI CONTROLLER 35.00 X 149551 0 14805 149551 669410 179838 1 0 1 0 0 693127 318040 8319267 230569 9330434 2651578 2651578 37497595 36979147 518448 518448 518448 36250 693127 135223 -98973 -98973 ADMINISTRATIVE FEE 900099 53132 53132 66132 66132 119264 12520751 0 0 3190317 X 396679 396679 4023743 4023743 1840812 186644 1190697 463471 648431 57173 410324 180934 243577 21477 154134 67966 60417 60417 1627784 1483195 75369 69220 183443 181983 1460 746710 530817 149977 65916 104706 97819 6887 290663 287628 983 2052 476371 395639 61980 18752 5913 3395 2518 BUILDING IMPROVEMENTS 150930 150930 HONORARIA 3315 3315 35233 1956 33277 10838727 7822393 2148023 868311 856951 691680 8041591 992919 8008141 7510428 1463183 1643632 68602010 80892647 5437656 6252577 4861774 4868290 97271306 102852173 1631600 631491 1631600 631491 X 19229561 19480193 76410145 82740489 95639706 102220682 97271306 102852173 1682024 4898952 0 X X 0 1 X 1 0 X 8291037 11882487 7175337 12687460 9330434 49366755 8291037 11882487 7175337 12687460 9330434 49366755 2488908 46877847 2795529 2705567 2346373 3557081 2651578 14056128 73345 73345 -17467 44714 23880 -49545 20291 21873 63518101 0.73800 0.63010 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: ADMINISTRATIVE FEE INCOME - 2018 AMOUNT: $ 80,310. 2019 AMOUNT: $ 67,399. 2020 AMOUNT: $ 64,883. 2021 AMOUNT: $ 59,774. 2022 AMOUNT: $ 53,132. OTHER INCOME - 2022 AMOUNT: $ 66,132. NET LOSS FROM FUNDRAISING ACTIVITIES - 2018 AMOUNT: $ -97,777. 2019 AMOUNT: $ -22,685. 2020 AMOUNT: $ -41,003. 2021 AMOUNT: $ -109,319. 2022 AMOUNT: $ -98,973. FORM 990, SCHEDULE A, PART II, LINE 9 FUNDRAISING EVENTS: 2017 AMOUNT: $ 87,500. 2018 AMOUNT: $ 73,345 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3705725 X X X 0 57911160 1596025 4963126 2084038 62386273 62278233 4176562 -6569684 1973951 57911160 48994399 1668774 12454443 839383 62278233 46388619 3318299 170012 882531 48994399 43986002 1565198 1796123 958704 46388619 0.70340 0.29660 0 0 0 LIMITED PARTNERSHIPS 6252577 F 6252577 X 17695712 4898952 276009 5174961 12520751 0 12520751 11114736 276009 276009 10838727 0 10838727 PART III, LINE 4: SCHEDULE D, PART III, LINE 4 THE FOUNDATION MAINTAINS ARTWORK IN THE GODWIN-TERNBACH MUSEUM, AN ART MUSEUM ON THE CAMPUS OF QUEENS COLLEGE, THE CITY UNIVERSITY OF NEW YORK. A COMPREHENSIVE PERMANENT COLLECTION OF 3,500 OBJECTS FROM ALL CULTURES, RANGING FROM THE ANCIENT WORLD TO THE PRESENT DAY, IS USED TO ORGANIZE EXHIBITIONS AND PROGRAMS AS CULTURAL AND EDUCATIONAL VEHICLES FOR STUDENTS, FACULTY AND PUBLIC AUDIENCES ALIKE. PART V, LINE 4: SCHEDULE D, PART V, LINE 4 THE FOUNDATION'S ENDOWMENT CONSISTS OF A PORTFOLIO OF ACTIVELY MANAGED FUNDS ESTABLISHED TO PROVIDE BOTH A SOURCE OF OPERATING FUNDS AS WELL AS LONG TERM FINANCIAL STABILITY. THE ENDOWMENT IS COMPOSED ENTIRELY OF DONOR RESTRICTED ENDOWMENT FUNDS. ENDOWMENT FUNDS MAY HAVE PURPOSE RESTRICTIONS ON USE OF THE INCOME. PART X, LINE 2: THE FOUNDATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE FOUNDATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS PRIOR TO 2020. QCF GALA 729377 693127 36250 85273 1236 48714 729377 693127 36250 85273 1236 48714 135223 -98973 1 QUEENS COLLEGE CUNY 65-30 KISSENA BLVD QUEENS NY 11367 116001344 501(C)(3) 396679 0 EDUCATIONAL SUPPORT 1 SCHOLARSHIPS, MEALS, AND AWARDS 3411 4002168 21575 MEAL MONEY FOR FOOD INSECURE STUDENTS. PART I, LINE 2: THE FOUNDATION PROVIDES SCHOLARSHIPS TO STUDENTS MATRICULATING AT QUEENS COLLEGE. CERTAIN CRITERA ARE ESTABLISHED THAT EACH STUDENT IS REQUIRED TO MEET TO RETAIN THEIR SCHOLARSHIP. THE FOUNDATION DOES NOT NEED TO MONITOR THE USE OF SCHOLARSHIP FUNDS AS THOSE AMOUNTS ARE DIRECTLY SPENT TO DEFRAY THE COST OF TUITION. THERE IS NO OPPORTUNITY FOR THE FUNDS TO BE DIRECTED TO ANOTHER PURPOSE. THE HEAD / PROJECT DIRECTORS OVERSEE THE GRANTMAKING PROCESS FOR BOTH SCHOLARSHIP AND AWARDS AND STIPENDS. THE PROJECT DIRECTORS WILL REVIEW GRANTEE ELIGIBILITY AND DETERMINE THE SELECTION CRITERA. SOMETIMES, GRANTS WILL HAVE SPECIFIC DONOR STIPULATIONS ATTACHED. THE PROJECT DIRECTOR WILL ENSURE THAT POTENTIAL GRANTEES MEET THOSE STIPULATIONS AND REINFORCE THAT THOSE STIPULATIONS ARE CONSISTENT WITH THE FOUNDATION'S INTERNAL POLICIES. THE FOUNDATION MAINTAINS DETAILED RECORDS TO SUBSTANTIATE ALL GRANTS ISSUED. THE FOUNDATION PROVIDES FUNDING TO ITS RELATED ORGANIZATION, QUEENS COLLEGE CUNY. THE FOUNDATION'S PRIMARY EXEMPT PURPOSE IS TO SUPPORT THE COLLEGE'S EDUCATIONAL MISSION. TO THAT END, THE FOUNDATION PERIODICALLY REMITS FUNDS BACK TO THE COLLEGE TO SUPPORT EDUCATIONAL PROGRAMS, SCHOLARSHIPS, AND OTHER ACTIVITIES RELATED TO IT'S MISSION. 0 0 0 0 0 0 0 0 0 FRANK H WU PRESIDENT 0 458902 0 0 0 0 0 37330 0 71308 0 567540 0 0 LAURIE DORF EXECUTIVE DIRECTOR 0 210508 0 0 0 0 0 25561 0 30834 0 266903 0 0 MAUREEN GIANNOTTI CONTROLLER 149551 0 0 0 0 0 14805 0 0 0 164356 0 0 0 PART I, LINE 3 THE FOUNDATION DOES NOT COMPENSATE ANY OF THE INDIVIDUALS REPORTED IN PART VII OF THE FORM 990. ALL OFFICER COMPENSATION IS PAID BY A RELATED ORGANIZATION, QUEENS COLLEGE. QUEENS COLLEGE IS A MUNICIPAL EMPLOYER AND ALL OFFICER SALARIES ARE GOVERNED BY CONTRACTS NEGOTIATED BETWEEN THE STATE, NEW YORK CITY AND TRADE MUNICIPAL UNIONS. X 17 230569 FMV 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 AMBER GUTH AND CELESTE GUTH ARE SISTERS FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH THE FOUNDATION'S FINANCIAL DEPARTMENT. A COPY OF THE DRAFT FORM 990 IS FIRST DISTRIBUTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL AND THEN CIRCULATED TO THE FULL BOARD OF TRUSTEES FOR DISCUSSION AND COMMENT. EACH BOARD MEMBER IS PROVIDED AMPLE OPPORTUNITY TO COMMENT ON THE INFORMATION CONTAINED IN THE 990 PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ENFORCEMENT AND MONITORING: EACH OFFICER, DIRECTOR, TRUSTEE, AND KEY EMPLOYEE OF THE FOUNDATION IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT, BOARD SERVICE, OR POSITION WITH THE FOUNDATION. THE FOUNDATION MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION: THE FOUNDATION DOES NOT COMPENSATE ANY OF THE INDIVIDUALS REPORTED IN PART VII OF THE FORM 990. ALL OFFICER COMPENSATION IS PAID BY A RELATED ORGANIZATION, QUEENS COLLEGE. QUEENS COLLEGE IS A MUNICIPAL EMPLOYER AND ALL OFFICER SALARIES ARE GOVERNED BY CONTRACTS NEGOTIATED BETWEEN THE STATE, NEW YORK CITY AND TRADE MUNICIPAL UNIONS. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE OF DOCUMENTS: THE FOUNDATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE FORM 990 IS LIKEWISE PUBLISHED ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE FOUNDATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY WILL BE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT MANAGEMENT'S DISCRETION. FORM 990, PART VI, SECTION B, LINE 13 & 14 WHISTLEBLOWER AND RETENTION POLICIES THE FOUNDATION IS SERVICED BY INDIVIDUALS THAT ARE COMPENSATED BY A RELATED PARTY, QUEENS COLLEGE , AND BY AN UNRELATED THIRD PARTY, THE RESEARCH FOUNDATION OF THE CITY OF NEW YORK. ALL INDIVIDUALS PROVIDING SERVICES TO THE FOUNDATION OPERATE UNDER THE WHISTLEBLOWER POLICY AND DOCUMENT RETENTION POLICY OF THE ORGANIZATION FROM WHICH THEY HAIL. FORM 990, PART IX, LINE 11G OTHER CONSULTANTS: PROGRAM SERVICE EXPENSES 1,483,195. MANAGEMENT AND GENERAL EXPENSES 75,369. FUNDRAISING EXPENSES 69,220. TOTAL EXPENSES 1,627,784. FORM 990, PART XII, LINE 2C THE ORGANIZATION DID NOT CHANGE ITS AUDIT OVERSIGHT PROCESS FROM THE PRIOR YEAR. QUEENS COLLEGE CUNY 65-30 KISSENA BLVD FLUSHING NY 11367 116001344 EDUCATION NY 115 LINE 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0