2025-05-13T02:38:07-05:00 2024-06-30 333709623 COHNREZNICK ADVISORY LLC 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2023-07-01 116080521 QUEENS COLLEGE FOUNDATION INC QUEE 7189975408 65-30 KISSENA BOULEVARD FLUSHING NY 11367 LAURIE F DORF EXECUTIVE DIRECTOR 7189975408 2025-05-12 1 1 LAURA KIELCZEWSKI P00740769 2122970400 2025-05-12 2023 2025-03-06 01:10:19Z LAURIE F DORF 65-30 KISSENA BOULEVARD FLUSHING NY 11367 109727366 0 X HTTP://WWW.QC.CUNY.EDU/SUPPORTQC X 1980 NY SEE SCHEDULE O 30 29 0 45 0 0 9330434 10219164 0 0 3170026 11462225 20291 -27983 12520751 21653406 4420422 3493541 0 0 2732820 2944785 0 0 834369 3685485 5224157 10838727 11662483 1682024 9990923 102852173 113382842 631491 951760 102220682 112431082 SEE SCHEDULE O 0 0 8401700 3493541 59858 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 INEXPERIMENTAL EDUCATIONAL ACTIVITIES AND PROJECTS. 8401700 1 1 0 0 0 0 0 1 0 1 1 0 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 0 0 0 0 1 0 0 0 1 781 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 30 29 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 WI X MAUREEN GIANNOTTI 7189975408 65-30 KISSENA BOULEVARD FLUSHING NY 11367 CHAIM Z WACHSBERGER CHAIR 1.00 X X 0 0 0 FRANK H WU PRESIDENT 1.00 40.00 X X 0 464678 31248 HOWARD SIPZNER TREASURER 1.00 X X 0 0 0 SAUL J KUPFERBERG SECRETARY 1.00 X X 0 0 0 ADAM BEHLMAN TRUSTEE 1.00 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 (THRU 5/24) 1.00 X 0 0 0 JAMIE KLEIN TRUSTEE 1.00 X 0 0 0 JULIUS MERCADO TRUSTEE 1.00 X 0 0 0 LEE FENSTERSTOCK 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 BARAKAT TRUSTEE (THRU 1/24) 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 VICTORIA A FERNANDEZ TRUSTEE 1.00 X 0 0 0 LAURIE DORF EXECUTIVE DIRECTOR 1.00 40.00 X 0 211329 63136 MAUREEN GIANNOTTI CONTROLLER 35.00 X 151893 0 0 151893 676007 94384 1 0 1 1 0 1057775 376500 8784889 80762 10219164 2157440 2157440 97240026 87935241 9304785 9304785 9304785 50878 1057775 138719 -87841 -87841 ADMINISTRATIVE FEES 900099 59858 59858 59858 21653406 59858 0 11374384 X 178816 178816 3314725 3314725 2034517 237004 1271079 526434 660378 67292 408203 184883 249890 25464 154466 69960 56544 56544 68832 68832 2746702 2509997 236705 219190 219190 983412 771744 181348 30320 117139 111712 5427 406620 390783 12472 3365 388157 313683 55067 19407 35534 4569 30965 BAD DEBT EXPENSES 73202 73202 HONORARIA 12612 12612 116213 114363 1850 11662483 8401700 2426414 834369 691680 1086330 992919 631446 7510428 7834657 62926 1643632 1596993 8839 8839 0 0 80892647 97300724 6252577 4868290 4869766 102852173 113382842 631491 951760 631491 951760 X 19480193 21506163 82740489 90924919 102220682 112431082 102852173 113382842 9990923 219477 0 X 0 1 X 1 0 X 11882487 7175337 12687460 9330434 10219164 51294882 11882487 7175337 12687460 9330434 10219164 51294882 1943427 49351455 2705567 2346373 3557081 2651578 2157440 13418039 67399 64883 59774 119264 59858 371178 65084099 0.75830 0.73800 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: ADMINISTRATIVE FEE INCOME - 2019 AMOUNT: $ 67,399. 2020 AMOUNT: $ 64,883. 2021 AMOUNT: $ 59,774. 2022 AMOUNT: $ 53,132. 2023 AMOUNT: $ 59,858. OTHER INCOME - 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 66,132. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3705725 X X X 0 57014551 2058990 7201913 3085879 63189575 57911160 1596025 4963126 2084038 62386273 62278233 4176562 -6569684 1973951 57911160 48994399 1668774 12454443 839383 62278233 46388619 3318299 170012 882531 48994399 0.27060 0.72940 0 0 8839 8839 0 0 X 22113128 219477 313447 -73202 459722 21653406 0 21653406 11902728 313447 313447 11589281 73202 73202 11662483 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 1A: THERE IS A DIFFERENCE OF $5,371,722 BETWEEN THE CURRENT YEAR BEGINNING BALANCE ON PART V LINE 1A COLUMN (A) OF $57,014,551, AND THE PRIOR YEAR ENDING BALANCE ON PART V LINE 1G COLUMN (B) OF $62,386,273. THE DIFFERENCE RELATES TO A RECLASSIFICATION OF THE ENDOWMENT FUNDS TO RECLASS THE PRIOR ACCUMULATED BALANCE APPROPRIATED BY THE BOARD FROM ENDOWMENT TO PURPOSE RESTRICTIONS. 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: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT, AS OF JUNE 30, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION'S FEDERAL AND STATE INCOME TAX RETURNS PRIOR TO FISCAL YEAR 2021 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. PART XI, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSES -73,202. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT EXPENSES 73,202. QCF GALA 1057142 1028342 28800 82638 7214 44567 BYZANTINE GALA 51511 29433 22078 3000 1300 1108653 1057775 50878 82638 10214 45867 138719 -87841 1 QUEENS COLLEGE CUNY 65-30 KISSENA BLVD QUEENS NY 11367 116001344 115 178816 0 PROGRAM SUPPORT 1 0 QUEENS COLLEGE 2608 3314725 SCHOLARSHIPS, MEALS & AWARDS 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 ITS MISSION. 0 0 0 0 0 0 0 0 0 FRANK H WU PRESIDENT 0 384992 0 0 0 79686 0 19800 0 11448 0 495926 0 0 LAURIE DORF EXECUTIVE DIRECTOR 0 211329 0 0 0 0 0 27762 0 35374 0 274465 0 0 MAUREEN GIANNOTTI CONTROLLER 151893 0 0 0 0 0 0 0 0 0 151893 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. FORM 990, PART VII, SECTION A, LINE 5: THE RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK (AN UNRELATED ORGANIZATION) HAS PROVIDED MAUREEN GIANNOTTI WITH COMPENSATION OF $151,893 FOR SERVICES PROVIDED AS THE CONTROLLER TO QUEEN'S COLLEGE FOUNDATION, INC. X 11 80762 FMV 0 1 0 PART I, COLUMN (B): THE NUMBER ON COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART I, LINE 1A THE 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. FORM 990, PART VI, SECTION A, LINE 2 AMBER GUTH AND CELESTE GUTH HAVE A FAMILY RELATIONSHIP. 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 PROGRAM FEES: PROGRAM SERVICE EXPENSES 974,439. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 974,439. STIPENDS: PROGRAM SERVICE EXPENSES 520,868. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 520,868. OTHER CONSULTING FEES: PROGRAM SERVICE EXPENSES 1,014,690. MANAGEMENT AND GENERAL EXPENSES 236,705. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,251,395. QUEENS COLLEGE CUNY 65-30 KISSENA BLVD FLUSHING NY 11367 116001344 EDUCATION NY 115 N/A N/A 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0