2024-03-05T13:47:04-06:00 2023-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2022-07-01 112622814 STONY BROOK FOUNDATION REALTY INC STON 6316326536 270 ADMINISTRATION STONY BROOK NY 11794 KACY BULLARD CFO & COO 6316326536 2024-03-05 1 KACY BULLARD XXX-XX-XXXX 0 SCOTT THOMPSETT P00741490 2125990100 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X JUSTIN FINCHER 270 ADMINISTRATION STONY BROOK NY 11794 180427 0 X N/A X 1979 NY TO HOLD REAL ESTATE FOR THE BENEFIT OF THE STONY BROOK FOUNDATION. 9 7 0 0 40897 8112 0 0 0 0 0 0 51426 80427 51426 80427 0 0 0 0 0 0 0 0 0 8363 6306 8363 6306 43063 74121 341055 2925448 410018 2920290 -68963 5158 X SEE SCHEDULE O. 0 0 0 0 0 STONY BROOK FOUNDATION REALTY, INC.'S PRIMARY EXEMPT MISSION IS TO HOLD REAL PROPERTY FOR THE BENEFIT OF THE STONY BROOK FOUNDATION. REALTY DID NOT ENGAGE IN ANY PROGRAMMATIC ACTIVITIES IN 2022, ALTHOUGH IT CONTINUES TO HOLD ONE INVESTMENT ON BEHALF OF ITS SUPPORTED ORGANIZATION, STONY BROOK FOUNDATION, INC. 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 9 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X KACY BULLARD 6316326536 270 ADMINISTRATION STONY BROOK NY 11794 MR CARY F STALLER ESQ CHAIRMAN/TRUSTEE 1.00 1.00 X X 0 0 0 MR STUART GOLDSTEIN SECRETARY/TRUSTEE 0.10 0.50 X X 0 0 0 MR RICHARD NASTI ESQ TREASURER/TRUSTEE 0.10 0.50 X X 0 0 0 MR BARRY FOX TRUSTEE 0.10 0.50 X 0 0 0 MR RICHARD L GELFOND TRUSTEE - EX-OFFICIO 0.10 4.00 X 0 0 0 GUY-MAX DELPHIN TRUSTEE 0.10 0.50 X 0 0 0 CAROLINE RITTER TRUSTEE 0.10 0.50 X 0 0 0 MAURIE MCINNIS TRUSTEE - EX-OFFICIO 0.10 3.00 X 0 135000 20250 JUSTIN FINCHER EXECUTIVE DIRECTOR 1.00 1.20 X X 0 48925 7339 0 183925 27589 0 0 0 0 0 180427 100000 80427 80427 40897 39530 80427 0 40897 39530 GENERAL ADMINISTRATION 6306 6306 6306 0 6306 0 87155 188096 121825 122083 5500 5016 126575 87075 0 2523178 341055 2925448 202679 197417 207339 199695 0 2523178 410018 2920290 X -68963 5158 -68963 5158 341055 2925448 74121 0 X X 0 1 X 1 0 X X 1 STONY BROOK FOUNDATION INC 116077945 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 FORM 990, SCHEDULE A, LINE 6: STONY BROOK FOUNDATION REALTY, INC. ("SBFR") IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF STONY BROOK FOUNDATION, INC. (THE "FOUNDATION"), AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXATION PURSUANT TO SECTION 501(C)(3) OF THE CODE AND CLASSIFIED AS A PUBLIC CHARITY WITHIN THE MEANING OF SECTION 509(A)(1) OF THE CODE. SBFR SPECIFIC PURPOSES INCLUDE LEASING OR PURCHASING AND HOLDING TITLE TO LAND IN THE VICINITY OF THE STATE UNIVERSITY OF NEW YORK AT STONY BROOK (THE "UNIVERSITY"), AN ORGANIZATION DESCRIBED IN SECTION 115 OF THE CODE, AND DEVELOPING, CONSTRUCTING, FINANCING AND OPERATING ONE OR MORE BUILDINGS AND IMPROVEMENTS ON SUCH LANDS THAT WILL BE USED IN FURTHERANCE OF THE CHARITABLE AND EDUCATIONAL PURPOSES OF THE FOUNDATION. THE FOUNDATION FACILITATED THE CONSTRUCTION OF CERTAIN EDUCATIONAL FACILITIES FOR THE SIMONS CENTER FOR GEOMETRY AND PHYSICS ON THE UNIVERSITY CAMPUS. 0 RIGHT OF USE ASSET 2523178 2523178 OPERATING LEASE LIABILITY 2523178 2523178 X PART X, LINE 2: ASC 740 FOOTNOTE STONY BROOK FOUNDATION REALTY, INC.'S FINANCIAL OPERATIONS ARE REPORTED IN THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS OF ITS SUPPORTED ORGANIZATION, STONY BROOK FOUNDATION. THE BELOW ASC 740 FOOTNOTE IS CONTAINED WITHIN THE FOUNDATION'S CONSOLIDATED AUDITED FINANCIAL STATEMENTS. THE FOUNDATION AND SBFR FOLLOW GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS MORE-LIKELY-THAN-NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE FOUNDATION AND SBFR ARE EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3), THOUGH BOTH ARE SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE IRC. BOTH THE FOUNDATION AND SFBR HAVE PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF THEIR RESPECTIVE TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE FOUNDATION AND SBFR HAVE DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE COMBINED FINANCIAL STATEMENTS. PART IX - RIGHT-OF-USE ASSETS, LINE 2 AND PART X, OPERATING LEASE LIABILITY LINE 1(2): THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") IMPLEMENTED A NEW LEASE ACCOUNTING STANDARD THAT BECAME EFFECTIVE FOR STONY BROOK FOUNDATION REALTY, INC. AS IN THE YEAR ENDING JUNE 30, 2023. THIS ACCOUNTING STANDARD WAS EFFECTUATED TO IMPROVE THE TRANSPARENCY SURROUNDING KEY INFORMATION PERTAINING TO AN EXEMPT ORGANIZATION'S LEASING ARRANGEMENTS (AND TO ENSURE THAT ALL ORGANIZATIONS WERE RECORDING THE TRANSACTIONS UNIFORMLY ON THEIR BALANCE SHEETS). 0 0 0 0 0 0 0 0 0 MAURIE MCINNIS TRUSTEE - EX-OFFICIO 0 0 0 135000 0 0 0 0 0 20250 0 155250 0 0 FORM 990, PART III, LINE 1 - ORGANIZATION'S MISSION: THE CORPORATION'S SPECIFIC PURPOSES INCLUDE LEASING OR PURCHASING AND HOLDING TITLE TO LAND IN THE VICINITY OF THE STATE UNIVERSITY OF NEW YORK AT STONY BROOK (THE "UNIVERSITY"), AND DEVELOPING, CONSTRUCTING, FINANCING AND OPERATING ONE OR MORE BUILDINGS AND IMPROVEMENTS ON SUCH LANDS THAT WILL BE USED IN FURTHERANCE OF THE CHARITABLE AND EDUCATIONAL PURPOSES OF THE FOUNDATION. FORM 990, PART VI, SECTION A, LINE 1A DELEGATION OF AUTHORITY PURSUANT TO THE ORGANIZATION'S BYLAWS, THE BOARD DELEGATES AUTHORITY TO THE EXECUTIVE COMMITTEE OF THE BOARD TO EXERCISE THE POWERS OF THE BOARD IN BETWEEN BOARD MEETINGS. ALL ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD THE NEXT TIME A MEETING IS CONVENED. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OR STOCKHOLDERS STONY BROOK FOUNDATION REALTY, INC.'S SOLE CORPORATE MEMBER IS THE STONY BROOK FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OR STOCKHOLDERS WHO MAY ELECT STONY BROOK FOUNDATION REALTY, INC.'S DIRECTORS WILL BE ELECTED TRIENNIALLY BY THE MEMBER. EACH OF THE CHAIR OF THE BOARD OF TRUSTEES OF THE FOUNDATION AND THE PRESIDENT OF THE UNIVERSITY WILL SERVE AS AN EX-OFFICIO DIRECTOR OF THE BOARD AND WILL BE ENTITLED TO VOTE. EACH OF THE EXECUTIVE DIRECTOR OF THE CORPORATION AND THE EXECUTIVE DIRECTOR OF THE FOUNDATION WILL SERVE AS A GUEST MEMBER OF THE BOARD, WILL BE ENTITLED TO ATTEND AND PARTICIPATE IN BOARD MEETINGS, BUT WILL NOT BE ENTITLED TO VOTE. FORM 990, PART VI, SECTION A, LINE 7B THE ORGANIZATION'S BYLAWS RESERVE THE POWER TO AMEND THE ORGANIZATION'S GOVERNING DOCUMENTS, INCLUDING ARTICLES OF INCORPORATION AND BYLAWS TO THE SOLE CORPORATE MEMBER: STONY BROOK FOUNDATION, INC. FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. A COPY OF THE DRAFT FORM 990 WAS CIRCULATED TO ALL MEMBERS OF THE BOARD IN EITHER PAPER OR ELECTRONIC FORM FOR DISCUSSION AND COMMENT. EACH BOARD MEMBER WAS 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 ENFORCEMENT OF CONFLICT OF INTEREST POLICY PURSUANT TO THE ORGANIZATION'S BYLAWS (ARTICLE VII), ALL MEMBERS OF THE BOARD OF DIRECTORS, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT. THE INTERNAL REVENUE SERVICE REQUIRES THAT THE ORGANIZATION DISCLOSE RELATIONSHIPS AMONG CURRENT AND CERTAIN FORMER MEMBERS OF THE BOARD OF DIRECTORS, OFFICERS, CERTAIN EMPLOYEES, FAMILY MEMBERS, CERTAIN INDEPENDENT CONTRACTORS AND ENTITIES IN WHICH THESE INDIVIDUALS HAVE AN OWNERSHIP INTEREST. THE ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT REQUIRES EACH BOARD MEMBER, OFFICER AND KEY EMPLOYEE OF THE ORGANIZATION TO DISCLOSE IN WRITING THE EXISTENCE OF ANY POTENTIAL CONFLICTS OF INTEREST, TO CERTIFY COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY AND TO AGREE TO ABIDE BY IT. THE SIGNED STATEMENTS SHALL BE MAINTAINED BY THE SECRETARY OF THE CORPORATION. IF AN INDIVIDUAL BECOMES AWARE THAT HE OR SHE MAY BE INVOLVED IN A POTENTIALLY CONFLICTED TRANSACTION, HE OR SHE WILL IMMEDIATELY DISCLOSE THE EXISTENCE AND MATERIAL FACTS OF HIS OR HER INTEREST IN THE CONFLICTED TRANSACTION TO THE SECRETARY OF THE CORPORATION OR THE BOARD OF DIRECTORS, AS APPLICABLE. BOARD DISCUSSIONS PERTAINING TO THE CONFLICT (AND ITS RESOLUTION) ARE DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 15: METHOD OF DETERMINING COMPENSATION STONY BROOK FOUNDATION REALTY, INC. DOES NOT PAY ANY COMPENSATION TO THE INDIVIDUALS REPORTED ON FORM 990, PART VII AND SO IT DOES NOT UNDERTAKE ANY PROCEDURES TO DETERMINE EXECUTIVE COMPENSATION. THE COMPENSATION OF MAURIE MCINNIS AND JUSTIN FINCHER IS PAID BY STONY BROOK FOUNDATION REALTY'S SUPPORTED ORGANIZATION, THE STONY BROOK FOUNDATION, INC. THE PROCESS FOR DETERMINING THEIR COMPENSATION IS DISCLOSED ON THE FORM 990 OF THE RELATED ORGANIZATION THAT PAYS THEIR COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS TO THE PUBLIC STONY BROOK FOUNDATION REALTY, INC. 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 ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC, BUT, IF REQUESTED, WILL BE PROVIDED AT MANAGEMENT'S DISCRETION. FORM 990, PART XII, LINE 2C: RESONSIBILITY FOR OVERSIGHT OF THE AUDIT NO CHANGES TO THE COMPOSITION OF THE AUDIT COMMITTEE, OR THE PROCESS OF REVIEWING THE FINANCIAL STATEMENTS, HAVE BEEN MADE IN THE CURRENT YEAR. STONY BROOK FOUNDATION INC 270 ADMINISTRATION STONY BROOK NY 11784 116077945 FUNDRAISING NY 501(C)(3) LINE 7 N/A 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0