Civic Intelligence

The Schenectady Foundation

990 • Fiscal year 2019 • EIN 14-6019650

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 25, 2020

Organization ProfileWWW.SCHENECTADYFOUNDATION.ORG
376 Broadway 2nd FlrSchenectady, NY 12305

(518) 393-9500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

81st percentile

0.02x

Higher debt load relative to assets than 81% of similar nonprofits.

2019 filings • NTEE T • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

88th percentile

0.42x

Higher debt load relative to revenue than 88% of similar nonprofits.

2019 filings • NTEE T • $25M-$50M nonprofits • Source year 2019

Net Margin

63rd percentile

36%

Higher net margin than 63% of similar nonprofits.

2019 filings • NTEE T • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

76th percentile

$145,090

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 7.1% of source-year revenue.

2019 filings • NTEE T • $25M-$50M nonprofits • Source year 2019

Asset Growth

76th percentile

17%

Faster asset growth than 76% of similar nonprofits.

2019 filings • NTEE T • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

47th percentile

6.2%

Faster revenue growth than 47% of similar nonprofits.

2019 filings • NTEE T • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$43,439,608

Up $6,297,413 (+17%) from 2018

Net Assets

Up

$42,579,608

Up $6,628,467 (+18%) from 2018

Liabilities

Down

$860,000

Down $331,054 (-28%) from 2018

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin63rd percentile

Revenue

Up

$2,031,752

Up $118,023 (+6.2%) from 2018

Expenses

Down

$1,303,873

Down $383,231 (-23%) from 2018

Net Income

Up

$727,879

Up $501,254 (+221%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2010: $17,129,858Liabilities 2010: $0Net Assets 2010: $17,129,8582010Assets 2011: $18,010,307Liabilities 2011: $0Net Assets 2011: $18,010,3072011Assets 2012: $18,112,931Liabilities 2012: $0Net Assets 2012: $18,112,9312012Assets 2013: $18,310,987Liabilities 2013: $0Net Assets 2013: $18,310,9872013Assets 2014: $14,821,555Liabilities 2014: $0Net Assets 2014: $14,821,5552014Assets 2015: $14,247,149Liabilities 2015: $0Net Assets 2015: $14,247,1492015Assets 2016: $13,652,006Liabilities 2016: $0Net Assets 2016: $13,652,0062016Assets 2017: $39,110,208Liabilities 2017: $784,749Net Assets 2017: $38,325,4592017Assets 2018: $37,142,195Liabilities 2018: $1,191,054Net Assets 2018: $35,951,1412018Assets 2019: $43,439,608Liabilities 2019: $860,000Net Assets 2019: $42,579,6082019Assets 2020: $48,593,832Liabilities 2020: $537,350Net Assets 2020: $48,056,4822020Assets 2021: $55,199,163Liabilities 2021: $1,175,050Net Assets 2021: $54,024,1132021Assets 2022: $45,821,219Liabilities 2022: $1,875,375Net Assets 2022: $43,945,8442022Assets 2023: $51,236,167Liabilities 2023: $1,547,350Net Assets 2023: $49,688,8172023Assets 2024: $56,001,047Liabilities 2024: $1,353,500Net Assets 2024: $54,647,5472024

Highlighted filing

2019

Assets$43,439,608
Liabilities$860,000
Net Assets$42,579,608
Open 2019 Filing

Operations Trend

Revenue Growth47th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,627,2452010Expenses 2011: $866,7672011Expenses 2012: $1,217,9182012Revenue 2013: $1,212,735Expenses 2013: $1,014,679Net Income 2013: $198,0562013Revenue 2014: $1,485,892Expenses 2014: $981,942Net Income 2014: $503,9502014Revenue 2015: $1,088,637Expenses 2015: $1,663,043Net Income 2015: -$574,4062015Revenue 2016: $1,327,445Expenses 2016: $1,922,589Net Income 2016: -$595,1442016Revenue 2017: $3,227,784Expenses 2017: $1,457,009Net Income 2017: $1,770,7752017Revenue 2018: $1,913,729Expenses 2018: $1,687,104Net Income 2018: $226,6252018Revenue 2019: $2,031,752Expenses 2019: $1,303,873Net Income 2019: $727,8792019Revenue 2020: $2,292,776Expenses 2020: $1,812,211Net Income 2020: $480,5652020Revenue 2021: $5,442,270Expenses 2021: $2,348,958Net Income 2021: $3,093,3122021Revenue 2022: $1,792,002Expenses 2022: $2,418,619Net Income 2022: -$626,6172022Revenue 2023: $2,957,210Expenses 2023: $2,240,624Net Income 2023: $716,5862023Revenue 2024: $3,458,158Expenses 2024: $2,518,678Net Income 2024: $939,4802024

Highlighted filing

2019

Revenue$2,031,752
Expenses$1,303,873
Net Income$727,879
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 25, 2020
Return Version
2019v5.1
Gross Receipts
$2,741,520
Mission and Program Overview

Mission

The mission of the schenectady foundation is to achieve sustainable improvement in the well being of the people, organizations and neighborhoods in schenectady county through the investment of philanthropic resources.

The schenectady foundation is a philanthropic trust established to assist and promote the welfare of residents of schenectady county, new york. The foundation makes grantsto tax exempt charities that effectively address the needs and issuesof the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$31,895,358$37,681,796▲ $5,786,438
Pledges and Grants Receivable$1,337,554$1,467,057▲ $129,503
Savings and Temporary Cash Investments$821,118$1,175,394▲ $354,276
Accounts Receivable$30,176$29,487▼ $689
Prepaid Expenses and Deferred Charges$93,889$16,474▼ $77,415
Total Assets$37,142,195$43,439,608▲ $6,297,413
Other Assets Total$2,964,100$3,069,400▲ $105,300
Liabilities
Grants Payable$1,191,054$860,000▼ $331,054
Total Liabilities$1,191,054$860,000▼ $331,054
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$30,888,333$37,153,215▲ $6,264,882
Net Assets With Donor Restrictions$5,062,808$5,426,393▲ $363,585
Total Net Assets Fund Balance$35,951,141$42,579,608▲ $6,628,467
Total Liabilities and Net Assets / Fund Balance$37,142,195$43,439,608▲ $6,297,413

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$3,069,400--
Other Securities$11,979,443--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$1,263,265$38,681▲ $116,685-$1,418,631
2018$1,281,544-▼ $18,279-$1,263,265
2017$1,203,393-▲ $78,151-$1,281,544
2016$1,018,286$133,445▲ $51,662-$1,203,393
2015$1,974,213-▼ $955,927-$1,018,286
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleBaseOtherTotal
-Secretary/executive Director-$145,090$145,090
Michael OzimekTrustee$74,974-$74,974
Robert CarreauTrustee$19,619-$19,619

Board Members and Trustees

NameTitle
Deborah MullaneyChair
Omayra Padilla DejesusVice Chair
Herbert L Shultz JrAssistant Treasurer
Jennifer KenneallyDistribution Committee Mem
Joseph TardiDistribution Committee Mem
Martha AsselinDistribution Committee Mem
Robert BylancikDistribution Committee Mem
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$464,886
Program Service Revenue
$0
Investment Income
$1,566,866
Other Revenue
$0
All Other Contributions
$464,886
Change in Net Assets
$727,879

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,031,752
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$5,805,995
Total Revenue per Audited Statements
$7,837,747
Total Revenue per Form 990
$2,031,752
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$671,372
Other Expenses$632,501
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$646,372--$646,372
Payments to Affiliates$534,083--$534,083
Fees for Service Investment Mgmnt Fees-$94,593-$94,593
Grants to Domestic Individuals$25,000--$25,000
Fees for Services Other-$3,825-$3,825
Total Functional Expenses$1,205,455$98,418$0$1,303,873

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,303,873
Expenses per Audited Statements$1,209,280
Total Expenses per Audited Statements$1,209,280
Expenses Not Reported on Financial Statements$94,593
Other Expense Adjustments$94,593
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Proctors-501(c)(3)Once Upon This Island and Campaign for Regional Cultural Success$152,410
Schenectady Inner City Ministries (sicm)--Community Resource Center$100,000
Schenectady Municipal Housing Authority-501(c)(3)Yates Village Community Facility$90,000
Schenectady County Job Training Agency-501(c)(3)2019 Summer Youth Employment$68,000
Schoharie River Center-501(c)(3)Environmental Study Team-youth Futures$60,000
Family and Child Service of Schenectady-501(c)(3)Homemaker Program to Licensed Sr Svcs$50,000
Schenectady Community Action Program (scap)-501(c)(3)Sojourn House$50,000
Capital Region Sponsor a Scholar-501(c)(3)Community Investment in Scholar Success$30,000
Capital Roots-501(c)(3)Expanding Veggiemobile in Schenectady$30,000
Create Community Studios-501(c)(3)ART IN COMMUNITY WITH SCHENECTADY'S YOUTH$30,000
Empire State Youth Orchestras-501(c)(3)Esyo Young Leaders$30,000
Clarkson University Schenectady Campus-501(c)(3)Careers in Teaching Summer Camp & Mat Scholarship Program$29,000
Mentor Ny-501(c)(3)Schenectady Mentoring Collective$20,000
Capital District Child Care Coordinating Council-501(c)(3)Child-caregiver Relationship Coaching$10,000
Music Haven-501(c)(3)Music Haven Summer Season 2019$10,000
Working Group on Girls Schenectady-501(c)(3)Building for a Bright Future$10,000
Community Fathers-501(c)(3)Occupations Instead of Incarceration$9,500
Planned Parenthood Mohawk Hudson Total-501(c)(3)Lit - 8th Grade Wellness Day and Fly - 9th Grade Assembly$6,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board of Director/distribution Committee MemberJOSEPH 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 BANKNo$150,000
-Assistant Treasurer of Schenectady FoundationMICHAEL 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.No$30,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

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 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 from 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 15a”

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.”

Filing and Contact Details

Filer

Filer Name
The Schenectady Foundation
EIN
14-6019650
Phone
5183939500
Address
376 BROADWAY 2ND FLR, SCHENECTADY, NY 12305

Signing Officer

Name
Robert Carreau
Title
Executive Director
Phone
5183939500
Signed
2020-08-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Carreau
Formed
1962
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
12

Preparer

Firm
Marvin and Company Pc
Address
11 BRITISH AMERICAN BLVD, LATHAM, NY 12110-1405
Preparer
Thomas W Hosey CPA
Phone
5187850134
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in value of beneficial interest in trusts 105,300.”

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.”

Financial Statement Notes

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 105,300. Trustee fees -94,593.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“TRUSTEE FEES 94,593.”

Raw XML AppendixShowing 400 of 635 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DISTRIBUTION COMMITTEE MEM
IRS990/Form990PartVIISectionAGrp/TitleTxt2DISTRIBUTION COMMITTEE MEM
IRS990/Form990PartVIISectionAGrp/TitleTxt3DISTRIBUTION COMMITTEE MEM
IRS990/Form990PartVIISectionAGrp/TitleTxt4DISTRIBUTION COMMITTEE MEM
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8ASSISTANT TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt9SECRETARY/EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10TREASURER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01962
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt0318130
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt06
IRS990/GrantAmt01205455
IRS990/GrantsPayableGrp/BOYAmt01191054
IRS990/GrantsPayableGrp/EOYAmt0860000
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt025000
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt025000
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0646372
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0646372
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd01
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt01027898
IRS990/GrossReceiptsAmt02741520
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt01248736
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01248736
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt031895358
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt037681796
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NY
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0709768
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd01
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF THE SCHENECTADY FOUNDATION IS TO ACHIEVE SUSTAINABLE IMPROVEMENT IN THE WELL BEING OF THE PEOPLE, ORGANIZATIONS AND NEIGHBORHOODS IN SCHENECTADY COUNTY THROUGH THE INVESTMENT OF PHILANTHROPIC RESOURCES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt035951141
IRS990/NetAssetsOrFundBalancesEOYAmt042579608
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0318130
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0318130
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt05795288
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt030888333
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt037153215
IRS990/NoncashContributionsAmt019347
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02964100
IRS990/OtherAssetsTotalGrp/EOYAmt03069400
IRS990/OtherChangesInNetAssetsAmt0105300
IRS990/OtherOrganizationDsc0CHARITABLE COMMUNITY TRUST
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt0534083
IRS990/PaymentsToAffiliatesGrp/TotalAmt0534083
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01337554
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01467057
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt093889
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt016474
IRS990/PrincipalOfficerNm0ROBERT CARREAU
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt075754
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01086145
IRS990/PYInvestmentIncomeAmt01837975
IRS990/PYOtherExpensesAmt0600959
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0226625
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01687104
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01913729
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0727879
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0821118
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01175394
IRS990ScheduleA/CommunityTrustInd0X
IRS990ScheduleA/FactsAndCircumstancesTestTxt0THE 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 2019, THE FOUNDATION, IN FACT, GENERATED $464,886 IN GIFTS AND CONTRIBUTIONS (OR 24.14% OF ITS SUPPORT), THE MOST SINCE 2015. A SIGNIFICANT INCREASE IN 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.
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0464886
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt075754
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0148214
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0452738
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0505989
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01647581
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01248736
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01159371
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0963353
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0874707
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0582648
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04828815
IRS990ScheduleA/PublicSupportCY170Pct00.24140
IRS990ScheduleA/PublicSupportPY170Pct00.29620
IRS990ScheduleA/PublicSupportTotal170Amt01563322
IRS990ScheduleA/SubstantialContributorsTotAmt084259
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0464886
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt075754
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0148214
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0452738
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0505989
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01647581
IRS990ScheduleA/TotalSupportAmt06476396
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.00000
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01263265
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt038681
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt01418631
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0116685
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt01281544
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01263265
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-18279
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt01203393
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt01281544
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt078151
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt01018286
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0133445
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01203393
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt051662
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt01974213
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01018286
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-955927
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt094593
IRS990ScheduleD/ExpensesSubtotalAmt01209280
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt05795288
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03069400
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0BENEFICIAL INTEREST IN PERPETUAL TRUSTS
IRS990ScheduleD/OtherExpensesNotIncludedAmt094593
IRS990ScheduleD/OtherRevenueAmt010707
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0931808
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1860118
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt21073408
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt31980901
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt41454322
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt51063398
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt618338398
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt711979443
IRS990ScheduleD/OtherSecuritiesGrp/Desc0COMMON STOCKS
IRS990ScheduleD/OtherSecuritiesGrp/Desc1EQUITY MUTUAL FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc2FIXED INCOME MUTUAL FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc3VANGUARD INTERNATIONAL GROWTH FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc4VANGUARD MID-CAP INDEX FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc5VANGUARD SMALL-CAP INDEX FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc6VANGUARD INSTITUTIONAL INDEX FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc7VANGUARD TOTAL BOND MARKET INDEX FUND
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd4F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd5F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd6F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd7F
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.72000
IRS990ScheduleD/RevenueNotReportedAmt05805995
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02031752
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE 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.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUSTS 105,300. TRUSTEE FEES -94,593.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3TRUSTEE FEES 94,593.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.28000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03069400
IRS990ScheduleD/TotalBookValueSecuritiesAmt037681796
IRS990ScheduleD/TotalExpensesPerForm990Amt01303873
IRS990ScheduleD/TotalRevenuePerForm990Amt02031752
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07837747
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01209280
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt025000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt03
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/CashGrantAmt130000
IRS990ScheduleI/RecipientTable/CashGrantAmt230000
IRS990ScheduleI/RecipientTable/CashGrantAmt329000
IRS990ScheduleI/RecipientTable/CashGrantAmt49500
IRS990ScheduleI/RecipientTable/CashGrantAmt530000
IRS990ScheduleI/RecipientTable/CashGrantAmt630000
IRS990ScheduleI/RecipientTable/CashGrantAmt750000
IRS990ScheduleI/RecipientTable/CashGrantAmt820000
IRS990ScheduleI/RecipientTable/CashGrantAmt910000
IRS990ScheduleI/RecipientTable/CashGrantAmt106000
IRS990ScheduleI/RecipientTable/CashGrantAmt11152410
IRS990ScheduleI/RecipientTable/CashGrantAmt1250000
IRS990ScheduleI/RecipientTable/CashGrantAmt1390000
IRS990ScheduleI/RecipientTable/CashGrantAmt1468000
IRS990ScheduleI/RecipientTable/CashGrantAmt1560000
IRS990ScheduleI/RecipientTable/CashGrantAmt1610000
IRS990ScheduleI/RecipientTable/CashGrantAmt17100000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc5501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc6501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc7501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc8501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc9501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc10501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc11501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc12501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc13501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc14501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc15501(C)(3)

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$43,439,608
Liabilities
$860,000
Net assets
$42,579,608
Revenue
$2,031,752
Expenses
$1,303,873
Net income
$727,879
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.0$1.35$54.6$3.46$2.52$0.94
2023Summary only. Only limited summary data is available for this year.$51.2$1.55$49.7$2.96$2.24$0.72
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.8$1.88$43.9$1.79$2.42$0.63
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.2$1.18$54.0$5.44$2.35$3.09
2020Summary only. Only limited summary data is available for this year.$48.6$0.54$48.1$2.29$1.81$0.48
2019Detailed filing. Detailed filing data is available for this year.$43.4$0.86$42.6$2.03$1.30$0.73
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.1$1.19$36.0$1.91$1.69$0.23
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.1$0.78$38.3$3.23$1.46$1.77
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.7$0.00$13.7$1.33$1.92$0.60
2015Detailed filing. Detailed filing data is available for this year.$14.2$0.00$14.2$1.09$1.66$0.57
2014Detailed filing. Detailed filing data is available for this year.$14.8$0.00$14.8$1.49$0.98$0.50
2013Detailed filing. Detailed filing data is available for this year.$18.3$0.00$18.3$1.21$1.01$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.1$0.00$18.1$1.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.0$0.00$18.0$0.87
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.1$0.00$17.1$1.63