2023-09-21T08:18:43-05:00 2022-12-31 161092347 MENGEL METZGER BARR & CO LLP 11 BRITISH AMERICAN BLVD LATHAM NY 12110 990 2022-01-01 146019650 THE SCHENECTADY FOUNDATION SCHE 5183939500 P O BOX 710 SCHENECTADY NY 12301 JOHN BRESONIS INSTITUTIONAL TRUSTEE 5183939500 2023-09-13 1 JOHN BRESONIS 999009999 1 ALAN W CLINK CPA P01256785 5187850134 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT CARREAU P O BOX 710 SCHENECTADY NY 12301 2461365 0 X WWW.SCHENECTADYFOUNDATION.ORG X CHARITABLE COMMUNITY TRUST 1962 NY THE SCHENECTADY FOUNDATION IS A PHILANTHROPIC TRUST ESTABLISHED TO ASSIST AND PROMOTE THE WELFARE OF RESIDENTS OF SCHENECTADY COUNTY, NEW YORK. THE FOUNDATION MAKES GRANTS TO TAX EXEMPT CHARITIES THAT EFFECTIVELY ADDRESS THE NEEDS AND ISSUES OF THE COMMUNITY. 7 7 0 15 0 0 1292456 438199 0 0 4149814 1353803 0 0 5442270 1792002 1528800 1368917 0 0 0 0 0 0 0 820158 1049702 2348958 2418619 3093312 -626617 55199163 45821219 1175050 1875375 54024113 43945844 THE MISSION OF THE SCHENECTADY FOUNDATION IS TO ACHIEVE SUSTAINABLE IMPROVEMENT IN THE HEALTH AND WELFARE OF PEOPLE, ORGANIZATIONS AND NEIGHBORHOODS IN SCHENECTADY COUNTY THROUGH THE INVESTMENT OF PHILANTHROPIC RESOURCES. 0 0 2157439 2157439 THE SCHENECTADY FOUNDATION DISTRIBUTES FUNDS TO BENEFIT THE WELFARE OF PEOPLE WHO LIVE OR WORK IN SCHENECTADY COUNTY, NY. THE FOUNDATION CONDUCTS A COMPETITIVE GRANT PROGRAM AND AWARDS FUNDS ON THE BASIS OF COMMUNITY NEED, ORGANIZATIONAL CAPACITY AND PROGRAM EFFECTIVENESS. THE FOUNDATION ALSO AWARDS COLLEGE SCHOLARSHIPS TO DESERVING STUDENTS FROM SCHENECTADY COUNTY. DURING 2022, APPROXIMATELY 155,000 INDIVIDUALS WERE SERVED IN SCHENECTADY COUNTY, NY. 2157439 1 1 0 0 0 1 0 0 0 1 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 0 1 0 0 0 0 0 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 1 1 0 0 0 1 1 1 1 0 1 1 1 1 1 1 1 0 1 1 0 NY X X ROBERT CARREAU 5183939500 P O BOX 710 SCHENECTADY NY 12301 MONA GOLUB DISTRIBUTION COMMITTEE MEM 1.00 1.00 X 0 0 0 ALFRED TOMPKINS DISTRIBUTION COMMITTEE MEM 1.00 1.00 X 0 0 0 JOSEPH TARDI DISTRIBUTION COMMITTEE MEM 1.00 1.00 X 0 0 0 KIMBERLY KILBY DISTRIBUTION COMMITTEE MEM 1.00 1.00 X 0 0 0 JOHAN MATTHEWS DISTRIBUTION COMMITTEE MEM 1.00 1.00 X 0 0 0 OMAYRA PADILLA DEJESUS CHAIR 1.00 1.00 X X 0 0 0 MARTHA ASSELIN VICE CHAIR 1.00 1.00 X X 0 0 0 SARATOGA NATIONAL BANK TRUSTEE 0.50 X 3036 0 0 TRUSTCO BANK TRUSTEE 0.50 X 171220 0 0 KEY BANK TRUSTEE 0.50 X 23816 0 0 HERB SCHULTZ TREASURER 1.00 1.00 X 0 0 0 ROBERT CARREAU EXECUTIVE DIRECTOR AND SEC 1.00 40.00 X 0 148734 18198 KEVIN SMITH ASSISTANT TREASURER 1.00 1.00 X 0 0 0 MICHAEL OZIMEK ASSISTANT TREASURER 1.00 1.00 X 0 0 0 198072 148734 18198 0 0 1 0 0 438199 438199 1234309 1234309 788857 669363 119494 119494 119494 1792002 0 0 1353803 1344167 1344167 24750 24750 198072 198072 63108 63108 788522 788522 2418619 2157439 261180 0 2287618 1773742 1770700 1473600 29005 41384 47876940 39222393 3234900 3310100 55199163 45821219 1175050 1875375 1175050 1875375 X 47515290 37704358 6508823 6241486 54024113 43945844 55199163 45821219 X -626617 -9526852 75200 X X 0 1 X 1 0 X 585343 949955 1040696 1454656 438199 4468849 585343 949955 1040696 1454656 438199 4468849 1326401 3142448 1159371 1248736 1345354 1800689 1234309 6788459 11257308 0.27910 0.31900 X THE SCHENECTADY FOUNDATION MAINTAINS A CONTINUOUS PROGRAM FOR SOLICITING FUNDS FROM THE GENERAL PUBLIC. AT LEAST ANNUALLY, THE FOUNDATION SOLICITS DONORS AND PROSPECTIVE DONORS, REQUESTING CURRENT OR FUTURE DONATION COMMITMENTS. THE FOUNDATION WORKS WITH ITS TRUSTEE BANKS TO MAKE BANK CLIENTS AWARE OF THE FOUNDATION'S GRANTS AND COMMUNITY PROGRAMS, AND TO ENCOURAGE CONTRIBUTIONS. IN ADDITION, THE FOUNDATION'S WEBSITE PROMOTES GIFTS TO THE FOUNDATION - IT'S "STOCKADE SOCIETY - RECOGNIZING THOSE DONORS WHO HAVE MADE CONTRIBUTIONS.IN 2022, THE FOUNDATION, IN FACT, GENERATED $438,199 IN GIFTS AND CONTRIBUTIONS (OR 26.2% OF ITS SUPPORT). THE ORGANIZATION'S SIGNIFICANT INVESTMENT INCOME WAS PRIMARILY RESPONSIBLE FOR THE PUBLIC SUPPORT PERCENTAGE DIPPING BELOW 33 1/3%.THE FOUNDATION HAS A GOVERNING BODY THAT IS COMPOSED OF MEMBERS OF THE COMMUNITY WHO ARE INVOLVED IN, AND UNDERSTAND THE NEEDS OF SCHENECTADY COUNTY'S SOCIAL SECTOR. THE GOVERNING BODY IS SELECTED BY A REPRESENTATIVE GROUP OF COMMUNITY LEADERS HAILING FROM EDUCATION, BUSINESS AND THE NON-PROFIT SECTOR.THE FOUNDATION IS SUPPORTED BY, AND IN TURN SUPPORTS, THE SCHENECTADY FOUNDATION, INC. WHICH PROVIDES NUMEROUS COMMUNITY SERVICES, AND IMPLEMENTS SUBSTANTIAL FUNDRAISING EFFORTS ON BEHALF OF THE FOUNDATION. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2 52500 365276 1 1 1580295 -192300 1387995 1447354 132941 1580295 1418631 -64907 93630 1447354 1263265 38681 116685 1418631 1281544 -18279 1263265 0.00000 0.68657 0.31343 0 0 0 COMMON STOCKS 906523 F EQUITY MUTUAL FUNDS 1388356 F FIXED INCOME MUTUAL FUNDS 1384038 F VANGUARD INTERNATIONAL GROWTH FUND 684398 F VANGUARD MID-CAP INDEX FUND 1209405 F VANGUARD SMALL-CAP INDEX FUND 1185134 F VANGUARD INSTITUTIONAL INDEX FUND 19704901 F VANGUARD TOTAL BOND MARKET INDEX FUND 12747668 F FEDERATED HERMES STR VALUE DIV 3001 F COLUMBIA DIVIDEND INCOME Y 3287 F FIDELITY CONTRAFUND 5682 F 39222393 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 3310100 3310100 X -7857722 -9526852 -122872 -9649724 1792002 0 1792002 2220547 0 2220547 198072 198072 2418619 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF A FUND ESTABLISHED TO PROVIDE GRANTS CONSISTENT WITH THE ORGANIZATION'S MISSION AND TO PROVIDE INCOME TO SUPPORT ITS OPERATIONS. PART X, LINE 2: THE SCHENECTADY FOUNDATION AND ITS AFFILIATE ARE NOT-FOR-PROFIT ENTITIES AND ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION AND AFFILIATE HAVE BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS ENTITIES THAT ARE NOT PRIVATE FOUNDATIONS AND QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION. THE ORGANIZATION IS NOT SUBJECT TO INCOME TAXES ON INCOME RECEIVED FOR EXEMPT PURPOSES. NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION FOLLOWS STATUTORY REQUIREMENTS FOR INCOME TAX ACCOUNTING AND AVOIDS RISKS WITH TAX POSITIONS THAT MAY BE CHALLENGED UPON EXAMINATION. MANAGEMENT BELIEVES THE LIABILITY FROM TAXING AUTHORITY EXAMINATION, IF ANY, WOULD NOT HAVE A MATERIAL EFFECT ON THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUSTS 75,200. TRUSTEE FEES -198,072. PART XII, LINE 4B - OTHER ADJUSTMENTS: TRUSTEE FEES 198,072. 1 BOYS & GIRLS CLUBS OF SCHENECTADY 141364595 501(C)(3) 7500 0 SKI PROGRAM FOR SCHENECTADY YOUTH CLARKSON UNIVERSITY 150543659 501(C)(3) 8500 0 RISE HIGH PROGRAM EXPANSION CREATE COMMUNITY STUDIOS 821094458 501(C)(3) 9800 0 STRATEGIC & BUSINESS PLANNING MUSIC HAVEN 010870395 501(C)(3) 10000 0 MUSIC HAVEN CONCERT SERIES 2022 BRIGHTSIDE UP 141648493 501(C)(3) 10000 0 PARENTCHILD+ ;HOME VISITS AND EDUCATIONAL TOOLS DOWNTOWN SCHENECTADY IMPROVEMENT CORP 364465022 501(C)(3) 25000 0 GENERAL OPERATIONS SCHENECTADY GREENMARKET 263407590 501(C)(3) 35000 0 GREENMARKET'S FOOD BOX PROGRAM CENTER FOR COMMUNITY JUSTICE 237391116 501(C)(3) 50000 0 LEGAL HAND PROGRAM SCHENECTADY MUNICIPAL HOUSING AUTHORITY 146003864 501(C)(3) 51000 0 GROCERY ACCESS POINT: GAP DESTINE PREPARATORY CHARTER SCHOOL 873479318 501(C)(3) 70000 0 IMPROVE READING ACHIEVEMENT INITIATIVE CITY MISSION OF SCHENECTADY 141403652 501(C)(3) 75000 0 GENERAL OPERATIONS; BRIDGES TO WELLNESS AGRICULTURAL PROGRAM FREE FOOD FRIDGE ALBANY 352714063 501(C)(3) 75000 0 FREE FOOD FRIDGE SCHENECTADY THE FOOD PANTRIES OF THE CAPITAL DISTRICT 141752164 501(C)(3) 100000 0 EXPANDED ACCESS TO HEALTH FOODS IN SCHENECTADY COUNTY SCHENECTADY INNER CITY MINISTRIES 141548263 501(C)(3) 109700 0 ACCESS, SOLIDARITY AND IMPACT; SOLARIZING FEHR AVE FARM CORNELL COOPERATIVE EXTENSION 146036884 501(C)(3) 150000 0 HEALTH LIVING 360 - PART 2 SCHENECTADY COMMUNITY ACTION PROGRAM 146034637 501(C)(3) 500000 0 SCAP CAMPUS PROJECT 16 0 SCHOLARSHIPS 8 24750 PART I, LINE 2: APPLICATIONS ARE SUBMITTED TO THE FOUNDATION VIA AN ONLINE GRANT PORTAL BY QUALIFIED APPLICANTS. FOUNDATION STAFF REVIEW APPLICATIONS FOR COMPLETENESS AND APPROPRIATENESS. COMPLETED APPLICATIONS ARE FORWARDED TO THE DISTRIBUTION COMMITTEE FOR REVIEW. THE COMMITTEE MEETS WITH APPLICANTS TO BETTER UNDERSTAND THE POTENTIAL IMPACT OF THE PROPOSED GRANT BEFORE DECIDING TO APPROVE OR DECLINE THE GRANT. STAFF IS THEN RESPONSIBLE FOR MAINTAINING OVERSIGHT OF APPROVED GRANTS, AND REPORTING PROGRESS BACK TO THE DISTRIBUTION COMMITTEE. SCHOLARSHIP APPLICATIONS ARE REVIEWED BY THE SCHOLARSHIPS COMMITTEE, WHICH IS APPOINTED ANNUALLY BY THE CHAIR OF THE DISTRIBUTION COMMITTEE. THE SCHOLARSHIPS COMMITTEE MAKES ITS RECOMMENDATIONS FOR SCHOLARSHIP AWARDS TO THE DISTRIBUTION COMMITTEE BASED ON CRITERIA ESTABLISHED FOR EACH SCHOLARSHIP PROGRAM. THE DISTRIBUTION COMMITTEE THEN VOTES WHETHER TO ACCEPT OR DECLINE THE RECOMMENDATIONS OF THE SCHOLARSHIPS COMMITTEE. SELECTED SCHOLARS PROVIDE PROOF OF ACCEPTABLE GRADES AND ENROLLMENT TO MAINTAIN OR RENEW THEIR AWARD FROM YEAR TO YEAR. X 0 0 0 0 0 0 0 0 0 ROBERT CARREAU EXECUTIVE DIRECTOR AND SEC 0 138734 0 10000 0 0 0 5373 0 12825 0 166932 0 0 THE SCHENECTADY FOUNDATION INC SUPPORTING SERVICE ORGANIZATION 539022 OPERATING GRANT FOR ADMINISTERING THE DAILY OPERATIONS OF THE FOUNDATION. THE SCHENECTADY FOUNDATION INC SUPPORTING SERVICE ORGANIZATION 149890 PROGRAM GRANT ONE SCHENECTADY PROGRAM THE SCHENECTADY FOUNDATION INC SUPPORTING SERVICE ORGANIZATION 100000 PROGRAM GRANT NEIGHBORHOOD IMPROVEMENT GRANTS MICHAEL OZIMEK ASSISTANT TREASURER MICHAEL OZIMEK IS AN EXECUTIVE OFFICER OF TRUSTCO BANK. HE IS ALSO A MEMBER OF THE TRUST COMMITTEE AT TRUSTCO BANK. THE MAJORITY OF THE FOUNDATION'S INVESTMENTS ARE CURRENTLY HELD AT TRUSTCO BANK. 0 JOSEPH TARDI DISTRIBUTION COMMITTEE MEMBER JOSEPH TARDI PROVIDES MARKETING AND CONSULTING SERVICES TO TRUSTCO BANK, A TRUSTEE BANK TO THE SCHENECTADY FOUNDATION. THE MAJORITY OF THE FOUNDATION'S INVESTMENTS ARE CURRENTLY HELD AT TRUSTCO BANK 0 FORM 990, PART VI, SECTION A, LINE 2 MICHAEL OZIMEK IS ASSISTANT TREASURER TO THE ORGANIZATION AND HAS A BUSINESS RELATIONSHIP TO ONE OF THE INSTITUTIONAL TRUSTEES. HE IS CFO AND EXECUTIVE VICE PRESIDENT OF TRUSTCO BANK AND HE IS A MEMBER OF THE TRUST COMMITTEE AT THE BANK. THE MAJORITY OF THE ORGANIZATION'S INVESTMENTS ARE CURRENTLY HELD AT TRUSTCO BANK. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATES MANAGEMENT DUTIES TO THE SCHENECTADY FOUNDATION, INC. WHICH IS A RELATED NOT-FOR-PROFIT ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE APPOINTING AUTHORITY AND TRUSTEES COMMITTEE OF THE SCHENECTADY FOUNDATION APPOINT MEMBERS OF THE DISTRIBUTION COMMITTEE. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO RESOLUTION & DECLARATION OF THE TRUST ARE SUBJECT TO APPROVAL BY THE DISTRIBUTION COMMITTEE, APPOINTING AUTHORITY AND THE TRUSTEES COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B AS PART OF THE ANNUAL AUDIT, OUR INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM PREPARES FORM 990 AND RELATED SUPPORTING SCHEDULES FROM OUR INTERNAL RECORDS. WE OVERSEE THESE SERVICES AND WE MAKE ALL MANAGEMENT DECISIONS AND PERFORM ALL MANAGEMENT FUNCTIONS. A COPY OF FORM 990 IS PROVIDED TO THE DISTRIBUTION COMMITTEE OF THE FOUNDATION FOR REVIEW AND SIGNATURE BEFORE BEING FILED WITH THE IRS. WE HAVE REVIEWED, APPROVED, AND ACCEPTED RESPONSIBILITY FOR FORM 990 AND THE RELATED SCHEDULES AND BELIEVE THEY ARE ADEQUATELY SUPPORTED BY THE BOOKS AND RECORDS OF THE SCHENECTADY FOUNDATION. FORM 990, PART VI, SECTION B, LINE 12C A LIST OF DISCLOSED RELATIONSHIPS IS SHARED IN WRITING WITH THE DISTRIBUTION COMMITTEE, OFFICERS AND STAFF AT THE START OF EACH MEETING. ALL ARE ASKED TO IDENTIFY ANY NEW RELATIONSHIPS THAT MAY GIVE RISE TO A CONFLICT OF INTEREST. MEMBERS OF THE DISTRIBUTION COMMITTEE DO NOT PARTICIPATE IN VOTING REGARDING ANY RESOLUTION THAT PERTAINS TO A BUSINESS OR ORGANIZATION IN WHICH THEY HAVE AN INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE SUPPORTING ORGANIZATION, THE SCHENECTADY FOUNDATION, INC., EMPLOYS AN EXECUTIVE DIRECTOR TO MANAGE THE OPERATIONS OF THE FOUNDATION. THE BOARD OF DIRECTORS OF THE SUPPORTING ORGANIZATION, WHO ALSO SERVE AS THE DISTRIBUTION COMMITTEE OF THE SCHENECTADY FOUNDATION, REVIEWS THE PERFORMANCE OF THE EXECUTIVE DIRECTOR AND DETERMINES COMPENSATION BASED ON PERFORMANCE AND OTHER FACTORS. FORM 990, PART VI, SECTION B, LINE 15B: NO MEMBER OF THE BOARD OF DIRECTORS RECEIVES COMPENSATION. THE EXECUTIVE DIRECTOR, WHO IS AN EMPLOYEE OF AND COMPENSATED BY A RELATED NOT-FOR-PROFIT ORGANIZATION, IS THE ONLY "TOP MANAGEMENT OFFICIAL" FOR THIS PURPOSE. THERE ARE NO KEY EMPLOYEES. SEE EXPLANATION ABOVE FOR FORM 990 PART VI, LINE 15. FORM 990, PART VI, SECTION C, LINE 19 MOST GOVERNING DOCUMENTS, SUCH AS RESOLUTION & DECLARATION OF TRUST, ANNUAL FINANCIAL REPORTS, AND GIFT ACCEPTANCE POLICIES, ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUSTS 75,200. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE IN THE PROCESS FOR REVIEWING AUDITED FINANCIAL STATEMENTS OR THE SELECTION OF AN INDEPENDENT AUDITOR. THE SCHENECTADY FOUNDATION INC 376 BROADWAY 2ND FLOOR SCHENECTADY NY 12305 611600398 ADMINISTRATIVE DUTIES OF THE SCHENECTADY FOUNDATION NY 501(C)(3) LINE 12C, III-FI THE SCHENECTADY FOUNDATION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 THE SCHENECTADY FOUNDATION INC B 788912 CASH VALUE