Brooklyn College Foundation Inc in Brooklyn, New York (NY)

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Brooklyn College Foundation Inc
Employer Identification Number (EIN)111904329
Name of OrganizationBrooklyn College Foundation Inc
Address2900 Bedford Avenue - Ingersoll, Brooklyn, NY 11210-2850
ActivitiesAlumni association or group
SubsectionCharitable Organization
Ruling Date12/1963
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2011
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$89,156,205
Amount of Income$29,135,130
Form 990 Revenue Amount$12,033,334
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2011: $29,135,130
Brooklyn College Foundation Inc: 

 $29,135,130
Other organizations performing similar types of work: 

 $358,656

Assets in 2011: $89,156,205
Brooklyn College Foundation Inc: 

 $89,156,205
Other organizations performing similar types of work: 

 $1,183,616

Expenses in 2007: $7,011,681
This organization: 

 $7,011,681
Other organizations performing similar types of work: 

 $484,495

Income to expenses ratio in 2007: 2.2
Brooklyn College Foundation Inc: 

 2.2
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 75.8%
This organization: 

 75.8%
Other organizations performing similar types of work: 

 82.4%

Number of employees in 2007: 10
This organization: 

 10
Other organizations performing similar types of work: 

 7

Employees paid over $50,000 in 2007: 130.0%
Brooklyn College Foundation Inc: 

 130.0%
Other organizations performing similar types of work: 

 25.8%

Grants share in income in 2007: 73.9%
This organization: 

 73.9%
Other organizations performing similar types of work: 

 36.9%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$7,875,195$11,945,825$7,616,230$9,467,498$5,128,984$12,607,568$21,575,126$15,580,323
Contributions, gifts, grants, and similar amounts received$8,159,661$13,379,912$6,805,132$7,650,511$3,699,532$9,215,581$15,516,630$11,512,125
Contributions to donor advised funds$0$0
Direct public support$8,159,661$13,379,912$6,805,132$7,650,511$3,699,532$9,215,581$15,516,630$11,512,125
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$11,471$65,630$604,398$688,926
Dividends and interest from securities$394,005$515,580$737,181$507,353$456,909$973,643$961,626$700,093
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$1,653,274$0$0
Gain or (loss) from sales of assets other than inventory$-678,471$-2,260,928$221,552$1,309,634$1,083,717$749,955$4,528,373$2,707,727
Gross amount from sales of assets other than inventory$24,922,902$25,492,519$22,534,875$52,167,276$46,466,470$16,436,113$20,559,457$12,800,638
Less: cost or other basis and sales expenses$25,601,373$27,753,447$22,313,323$50,857,642$45,382,753$15,686,158$16,031,084$10,092,911
Net income or (loss) from special events and activities$0$0$-147,635$0$-122,645$-50,515$-36,283$-28,548
Gross revenue$0$0$43,230$0$49,005$54,600$0$0
Less: direct expenses other than fundraising expenses$0$0$190,865$0$171,650$105,115$36,283$28,548
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$311,261$0$0$0$0$382$0
Total expenses$4,315,461$6,230,997$4,561,479$5,386,301$5,411,855$5,064,883$7,619,545$7,011,681
Program services$2,483,282$4,822,046$3,263,720$4,013,582$3,990,023$3,931,120$6,345,387$5,314,397
Management and general$1,058,445$882,582$610,504$509,707$552,109$588,270$576,344$627,330
Fundraising$773,734$526,369$687,255$863,012$869,723$545,493$697,814$1,069,954
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$32,489,595$38,463,018$43,094,724$50,049,858$51,691,177$60,013,827$76,621,533$78,610,452
Excess or (deficit) for the year$3,559,734$5,714,828$3,054,751$4,081,197$-282,871$7,542,685$13,955,581$8,568,642
Net assets or fund balances at beginning of year$29,654,687$32,489,595$38,463,018$43,094,724$50,049,858$51,691,177$60,013,827$76,621,533
Other changes in net assets or fund balances$-724,826$258,595$1,576,955$2,873,937$1,924,190$779,965$2,652,125$-6,579,723
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$7,011,681$5,314,397$627,330$1,069,954
Grants paid from donor advised funds$0
Other grants and allocations$4,465,514
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$747,622$0$226,859$520,763
Pension plan contributions not included above$44,890$0$12,607$32,283
Employee benefits not included above$59,642$0$34,582$25,060
Payroll taxes$58,828$0$16,521$42,307
Professional fundraising fees$0$0$0$0
Accounting fees$41,757$0$41,757$0
Legal fees$11,384$0$11,384$0
Supplies$526,671$437,833$88,838$0
Telephone$0$0$0$0
Postage and shipping$22,879$5,286$0$17,593
Occupancy$0$0$0$0
Equipment rental and maintenance$2,958$2,958$0$0
Printing and publications$162,461$50,416$0$112,045
Travel$227,716$222,726$0$4,990
Conferences, conventions, and meetings$92,715$91,170$1,078$467
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$546,644$38,494$193,704$314,446
Balance Sheets
20002001200220032004200520062007
Total assets$33,470,125$38,905,818$43,621,169$50,573,940$52,298,962$60,626,609$77,501,282$79,499,033
Cash - non-interest-bearing$98,601$2,995,603$3,200,071$1,475,669$64,560$46,287$33,630$96,996
Savings and temporary cash investments$1,775$0$0$0$1,318,226$2,923,977$12,729,077$18,462,081
Accounts receivable less allowance for doubtful accounts$138,203$382,207$12,414$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$5,717,516$8,559,126$9,498,414$7,416,387$5,326,737$7,029,861$14,295,569$13,913,363
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$30,134$11,806$19,013$44,516$60,170$56,671$25,480$23,748
Investments - publicly-traded securities$41,807,157$35,001,792
Investments - other securities$0$0$0$0$42,301,910$42,947,573$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$27,461,501$26,957,077$30,891,257$40,670,835$2,190,725$6,650,954$7,681,479$11,008,918
Land, buildings, and equipment less accumulated depreciation$22,395$0$0$0$0$0$0$0
Other assets, including program-related investments$0$0$0$966,533$1,036,634$971,286$928,890$992,135
Total liabilities$980,530$442,800$526,445$524,082$607,785$612,782$879,749$888,581
Accounts payable and accrued expenses$609,260$85,465$46,067$46,101$83,567$83,462$196,131$177,357
Grants payable$371,270$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$0$357,335$480,378$477,981$524,218$529,320$683,618$711,224
Total liabilities and net assets/fund balances$33,470,125$38,905,818$43,621,169$50,573,940$52,298,962$60,626,609$77,501,282$79,499,033
Total net assets or fund balances$32,489,595$38,463,018$43,094,724$50,049,858$51,691,177$60,013,827$76,621,533$78,610,452
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$7,875,195$11,945,825$7,616,230$9,467,498$5,128,984$12,607,568$21,575,126$15,580,323
Total revenue, gains, and other support per audited financial statements$6,338,033$11,854,309$9,150,253$12,264,331$6,974,829$13,631,046$24,776,636$9,469,958
Other expenses$0$0$1,603,795$2,874,967$1,924,190$1,122,436$3,201,510$588,111
Net unrealized gains on investments$0$0$1,576,955$2,873,937$1,924,190$875,533$2,880,051$0
Donated services and use of facilities$0$0$26,840$1,030$0$342,471$527,145$544,620
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$-95,568$-205,686$43,491
Other revenue$1,537,162$91,516$69,772$78,134$78,345$98,958$0$6,698,476
Investment expenses$228,707$350,111$69,772$78,134$78,345$0$0$75,262
Other$1,308,455$-258,595$0$0$0$98,958$0$6,623,214
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$4,315,461$6,230,997$4,561,479$5,386,301$5,411,855$5,064,883$7,619,545$7,011,681
Total expenses and losses per audited financial statements$3,503,125$5,880,886$4,518,547$5,309,197$5,333,510$5,308,396$8,168,930$7,481,039
Other revenue$0$0$26,840$1,030$0$342,471$527,145$544,620
Donated services and use of facilities$0$0$26,840$1,030$0$342,471$527,145$544,620
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$812,336$350,111$69,772$78,134$78,345$98,958$-22,240$75,262
Investment expenses$228,707$0$0$0$0$0$0$0
Other$583,629$350,111$69,772$78,134$78,345$98,958$-22,240$75,262
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings33
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200610
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$4,068,198$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$688,926$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$700,093$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$2,707,727$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$-28,548$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$97,900$12,733$0
$81,900$11,393$0
$77,300$11,019$0
$67,400$15,804$0
$72,000$5,894$0
Total number of other employees paid over $50,0008
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization operated for the benefit of a college or university
Support Schedule
19992000200120022003200420052006
Total$4,268,321$4,014,689$11,121,139$6,646,255$9,256,832$6,306,567$10,263,557$9,819,207
Gifts, grants, and contributions received$3,573,125$3,624,677$10,294,298$5,865,844$8,747,587$5,789,182$7,512,457$8,250,922
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$43,230$0$49,005$54,600$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$695,196$390,012$515,580$737,181$509,245$468,380$2,696,500$1,567,903
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$311,261$0$0$0$0$382
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1United Negro College Fund Inc8260 Willow Oaks Corp Dr, Fairfax, VA 22031VA2004-10$5,437,302,945
2Dartmouth Educational Loan Corp7 Lebanon St Ste 302, Hanover, NH 03755-2112NH1982-04$816,698,103
3Massachusetts Higher Education Assistance Corporation, American Student Assistance100 Cambridge Street, Boston, MA 02114-2509MA1958-12$344,295,960
4Scholarship America Inc, S-V Dollars For Scholars1024 South Locust, Sesser, IL 62884IL1962-04$171,036,517
5N H Higher Education Loan CorporationPO BOX 2111, Concord, NH 03302-2111NH1983-04$159,565,800
6Iowa Student Loan Liquidity Corp6805 Vista Dr, Wdm, IA 50266-9307IA1981-02$109,925,023
7National Merit Scholarship Corporation1560 Sherman Ave Ste 200, Evanston, IL 60201-4816IL1957-01$105,873,823
8Nebraska Student Loan Program IncPO BOX 82507, Lincoln, NE 68501-2507NE1987-10$70,461,769
9Acapita Education Finance CorporationPO BOX 1308, Waco, TX 76703-1308TX1989-11$67,056,705
10Texas A & M University 12th Man FoundationPO BOX 2800, College Sta, TX 77841-2800TX1952-09$45,689,856
11James Madison University Foundation Inc1320 S Main St Msc 8501, Harrisonburg, VA 22801-3051VA1972-07$44,213,370
12Hispanic Scholarship Fund55 2nd St Ste 1500, San Francisco, CA 94105-3499CA1976-01$43,393,124
13Catholic Schools Foundation Inc260 Franklin St Ste 630, Boston, MA 02110-3112MA1984-10$39,334,014
14Chela Financial Resources IncSan Francisco, CA 94111CA$39,046,348
15Nc Student Aid Association IncPO BOX 37100, Raleigh, NC 27627-7100NC1955-08$37,516,563
16The Childrens Scholarship Fund8 West 38th St 9th Floor, New York, NY 10018-6229NY1998-11$30,100,490
17Brooklyn College Foundation Inc2900 Bedford Avenue - Ingersoll, Brooklyn, NY 11210-2850NY1963-12$29,135,130
18Health Science Center Foundation At Syracuse Inc750 E Adams St, Syracuse, NY 13210-2342NY1976-06$13,078,205
19Optometric Center Of New York33 W 42nd St, New York, NY 10036-8005NY1957-08$4,436,954
20Community Scholarship Fund Of Glen Cove IncPO BOX 453, Glen Cove, NY 11542-0453NY1957-06$2,908,228
21Newspaper Guild Of New York Times Unit College Scholarship Fund1501 Broadway Ste 1724, New York, NY 10036-5600NY1983-03$540,565
22Beatrice A Gillam Ttee Gilliam Menorial Scholarship Fund U/A 6043One Court Sq 29th Fl, Long Island City, NY 11120-0001NY1944-11$177,371
23Richard P Walsh Scholarship Fund18 Avis Dr, Latham, NY 12110-2605NY1992-03$138,467
24Geraldine & Warner Refuge Inc555 Hudson Valley Ave Ste 100, New Windsor, NY 12553-4749NY1960-02$108,805
25Association Of Notre Dame Clubs Inc, New York City468 W 23rd St Apt 5f, New York, NY 10011-2125NY1983-07$99,219
26Cellini Charitable Foundation Inc2208 Jericho Tpke, Garden City P, NY 11040-4708NY1997-06$70,416
27Medical Scholarship Fund Of The Monroe County Medical Society132 Allens Creek Rd, Rochester, NY 14618-3310NY1970-05$56,030
28Helen M Schiffner Scholarship FundOne M T Plaza 8th Floor, Buffalo, NY 14203-2309NY2001-11$38,559
29Anand Foundation Inc16 Amber Ln, Oyster Bay, NY 11771-3115NY2003-07$15,260
30Douglas Moore Fund For American Opera IncPO BOX 6707, New York, NY 10150-6707NY2002-08$1
Number of organizations performing similar types of work
Alaska3
Alabama11
Arkansas13
Arizona21
California93
Colorado3
Connecticut3
District of Columbia7
Delaware2
Florida8
Georgia9
Hawaii3
Iowa8
Illinois27
Indiana7
Kansas1
Kentucky3
Louisiana4
Massachusetts15
Maryland8
Michigan3
Minnesota28
Missouri7
Mississippi3
Montana1
North Carolina15
North Dakota2
Nebraska3
New Hampshire2
New Jersey11
New Mexico1
New York19
Ohio18
Oklahoma3
Oregon1
Pennsylvania18
Rhode Island1
South Carolina6
South Dakota2
Tennessee5
Texas38
Utah1
Virginia15
Vermont1
Washington4
Wisconsin15
Wyoming3
International3
Total478

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