2024-10-10T13:05:39-05:00 2023-12-31 161092347 MENGEL METZGER BARR & CO LLP 11 BRITISH AMERICAN BLVD LATHAM NY 12110 990 2023-01-01 146019650 THE SCHENECTADY FOUNDATION SCHE 5183939500 P O BOX 710 SCHENECTADY NY 12301 JOHN BRESONIS INSTITUTIONAL TRUSTEE 5183939500 2024-10-09 1 1 ALAN W CLINK CPA P01256785 5187850134 2023 2024-10-15 13:58:12Z ROBERT CARREAU P O BOX 710 SCHENECTADY NY 12301 4122813 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. 9 9 0 15 0 0 438199 736714 0 0 1353803 2185570 0 34926 1792002 2957210 1368917 1502350 0 0 0 0 0 0 0 1049702 738274 2418619 2240624 -626617 716586 45821219 51236167 1875375 1547350 43945844 49688817 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 2012350 1502350 34926 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 2023, APPROXIMATELY 155,000 INDIVIDUALS WERE SERVED IN SCHENECTADY COUNTY, NY. 2012350 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 9 9 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 ALFRED TOMPKINS DISTRIBUTION COMMITTEE MEM 1.00 1.00 X 0 0 0 RAYSHEEA TURNER 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 PAMELA PEARLMAN DISTRIBUTION COMMITTEE MEM 1.00 1.00 X 0 0 0 JENNIFER KENNEALLY DISTRIBUTION COMMITTEE MEM 1.00 1.00 X 0 0 0 MONA GOLUB VICE CHAIR 1.00 1.00 X X 0 0 0 OMAYRA PADILLA DEJESUS CHAIR 1.00 1.00 X X 0 0 0 KEVIN SMITH TREASURER 1.00 1.00 X X 0 0 0 SARATOGA NATIONAL BANK TRUSTEE 0.50 X 3112 0 0 TRUSTCO BANK TRUSTEE 0.50 X 165903 0 0 KEY BANK TRUSTEE 0.50 X 23912 0 0 ROBERT CARREAU EXECUTIVE DIRECTOR AND SEC 1.00 40.00 X 0 155586 17734 MICHAEL OZIMEK ASSISTANT TREASURER 1.00 1.00 X 0 0 0 192927 155586 17734 0 0 1 0 0 736714 736714 1383690 1383690 1967483 1165603 801880 801880 801880 MISCELLANEOUS 900099 27850 27850 REFUNDS 900099 7076 7076 34926 2957210 34926 0 2185570 1465850 1465850 36500 36500 192926 192926 35348 35348 510000 510000 2240624 2012350 228274 0 1773742 2154569 1473600 1605600 41384 53586 39222393 44037012 3310100 3385400 45821219 51236167 1875375 1547350 1875375 1547350 X 37704358 42568027 6241486 7120790 43945844 49688817 45821219 51236167 X 716586 4951087 75300 X X 0 1 X 1 0 X 949955 1040696 1454656 438199 736714 4620220 949955 1040696 1454656 438199 736714 4620220 1715400 2904820 1248736 1345354 1800689 1234309 1383690 7012778 11632998 34926 0.24970 0.27910 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 2023, THE FOUNDATION, IN FACT, GENERATED $736,714 IN GIFTS AND CONTRIBUTIONS (OR 34.7% 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 55000 395374 1 1 1387995 148048 1536043 1580295 -192300 1387995 1447354 132941 1580295 1418631 -64907 93630 1447354 1263265 38681 116685 1418631 0.00000 0.62000 0.38000 0 0 0 COMMON STOCKS 1133784 F EQUITY MUTUAL FUNDS 1750976 F FIXED INCOME MUTUAL FUNDS 1528428 F VANGUARD INTERNATIONAL GROWTH FUND 720497 F VANGUARD MID-CAP INDEX FUND 1359639 F VANGUARD SMALL-CAP INDEX FUND 1356942 F VANGUARD INSTITUTIONAL INDEX FUND 23236802 F VANGUARD TOTAL BOND MARKET INDEX FUND 12857651 F FEDERATED HERMES STR VALUE DIV 2820 F COLUMBIA DIVIDEND INCOME Y 3458 F FIDELITY CONTRAFUND 7562 F FIDELITY INTERNATIONAL DISCOVERY 3886 F BOND GOVERNMENT & AGENCY 74567 F 44037012 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 3385400 3385400 X 7790671 4951087 -117626 4833461 2957210 0 2957210 2047698 0 2047698 192926 192926 2240624 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 75,300. TRUSTEE FEES -192,926. PART XII, LINE 4B - OTHER ADJUSTMENTS: TRUSTEE FEES 192,926. 1 REGIONAL FOOD BANK 222470885 501(C)(3) 200000 0 FOOD DISTRIBUTION-RESPONSIVE PROCUREMENT CORNELL COOPERATIVE EXTENSION 146036884 501(C)(3) 182000 0 HEALTHY LIVING 360 - PART 3 CROSSROADS CENTER FOR CHILDREN 141809027 501(C)(3) 100000 0 EXPANSION TO NEW SCHOOL BUILDING THE FOOD PANTRIES OF THE CAPITAL DISTRICT 141752164 501(C)(3) 100000 0 FOOD DISTRIBUTION AND DELIVERY COORDINATION SCHENECTADY INNER CITY MINISTRIES 141548263 501(C)(3) 100000 0 COMMUNITY - BASED FOOD ACCESS SEAT CENTER 473946521 501(C)(3) 75000 0 JERRY BURRELL PARK ARTS COLLABORATIVE DOWNTOWN SCHENECTADY IMPROVEMENT CORP 364465022 501(C)(3) 75000 0 JAY SQUARE - PARK CREATION MESSIAH LUTHERAN 146026156 501(C)(3) 75000 0 CHANGING NEIGHBORHOOD SYSTEMS, INCLUDING FOOD ACCESS ALBANY BARN 743186476 501(C)(3) 75000 0 ART STUDIOS AND MAKER SPACE SAFE INC OF SCHENECTADY 141794075 501(C)(3) 70000 0 EXPANDING SHELTER CAPACITY OPERATION AT EASE 810866429 501(C)(3) 61000 0 SUPPORT FOR VETERANS AND FIRST RESPONDERS LUKEN DAILY BREAD FOOD PANTRY 932661674 501(C)(3) 50000 0 FOOD DISTRIBUTION; ACCESS TO CULTURALLY RELEVANT OPTIONS SUNY SCHENECTADY 237194187 501(C)(3) 43000 0 REFRIGERATED FOOD LOCKERS COCOA HOUSE 202348352 501(C)(3) 40000 0 COMMUNITY CENTER EXPANSION 518 ELEVATED 141823014 501(C)(3) 24000 0 WORKFORCE DEVELOPMENT CREATE COMMUNITY STUDIOS 821094458 501(C)(3) 10000 0 SCHENECTADY AND ME ART BENCHES CITY MISSION OF SCHENECTADY 141403652 501(C)(3) 10000 0 AMBASSADOR PROGRAM AT THE GREENMARKET CAPITAL REGION CLASSICAL 831925523 501(C)(3) 10000 0 MUSIC SERIES CONCERT MUSIC HAVEN 010870395 501(C)(3) 10000 0 2023 SUMMER SERIES ALL OF US COMMUNITY ACTION GROUP 852181126 501(C)(3) 10000 0 COMMUNITY EDUCATION AND ENGAGEMENT CLARKSON UNIVERSITY 150543659 501(C)(3) 7500 0 MAT PROGRAM SUPPORT NEW YORK FOLKLORE 222172604 501(C)(3) 7200 0 SCHENECTADY PAN AFRICAN ORCHESTRA 22 0 SCHOLARSHIPS 7 36500 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 147586 0 8000 0 0 0 5520 0 12214 0 173320 0 0 THE SCHENECTADY FOUNDATION INC SUPPORTING SERVICE ORGANIZATION 510000 OPERATING GRANT FOR ADMINISTERING THE DAILY OPERATIONS OF THE FOUNDATION. 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 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 75,300. 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 251 STATE ST 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 510000 ACCRUAL BASIS VALUE