Civic Intelligence

The Schenectady Foundation

990 • Fiscal year 2022 • EIN 14-6019650

Jan 01, 2022 to Dec 31, 2022 • Filed on Sep 13, 2023

Organization ProfileWWW.SCHENECTADYFOUNDATION.ORG
P O Box 710Schenectady, NY 12301

(518) 393-9500

Siviq Scores

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

Liabilities / Assets

85th percentile

0.04x

Higher debt load relative to assets than 85% of similar nonprofits.

2022 filings • NTEE T • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

92nd percentile

1.05x

Higher debt load relative to revenue than 92% of similar nonprofits.

2022 filings • NTEE T • $25M-$50M nonprofits • Source year 2022

Net Margin

28th percentile

-35%

Higher net margin than 28% of similar nonprofits.

2022 filings • NTEE T • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

79th percentile

$171,220

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 9.6% of source-year revenue.

2022 filings • NTEE T • $25M-$50M nonprofits • Source year 2022

Asset Growth

13th percentile

-17%

Faster asset growth than 13% of similar nonprofits.

2022 filings • NTEE T • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

25th percentile

-67%

Faster revenue growth than 25% of similar nonprofits.

2022 filings • NTEE T • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$45,821,219

Down $9,377,944 (-17%) from 2021

Net Assets

Down

$43,945,844

Down $10,078,269 (-19%) from 2021

Liabilities

Up

$1,875,375

Up $700,325 (+60%) from 2021

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin28th percentile

Revenue

Down

$1,792,002

Down $3,650,268 (-67%) from 2021

Expenses

Up

$2,418,619

Up $69,661 (+3.0%) from 2021

Net Income

Down

-$626,617

Down $3,719,929 (-120%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth13th 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

2022

Assets$45,821,219
Liabilities$1,875,375
Net Assets$43,945,844
Open 2022 Filing

Operations Trend

Revenue Growth25th 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

2022

Revenue$1,792,002
Expenses$2,418,619
Net Income-$626,617
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 13, 2023
Return Version
2022v5.0
Gross Receipts
$2,461,365
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 grants to tax exempt charities that effectively address the needs and issues of the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$47,876,940$39,222,393▼ $8,654,547
Savings and Temporary Cash Investments$2,287,618$1,773,742▼ $513,876
Pledges and Grants Receivable$1,770,700$1,473,600▼ $297,100
Accounts Receivable$29,005$41,384▲ $12,379
Total Assets$55,199,163$45,821,219▼ $9,377,944
Other Assets Total$3,234,900$3,310,100▲ $75,200
Liabilities
Grants Payable$1,175,050$1,875,375▲ $700,325
Total Liabilities$1,175,050$1,875,375▲ $700,325
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$47,515,290$37,704,358▼ $9,810,932
Net Assets With Donor Restrictions$6,508,823$6,241,486▼ $267,337
Total Net Assets Fund Balance$54,024,113$43,945,844▼ $10,078,269
Total Liabilities and Net Assets / Fund Balance$55,199,163$45,821,219▼ $9,377,944

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$3,310,100--
Other Securities$5,682--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$1,580,295-▼ $192,300-$1,387,995
2021$1,447,354-▲ $132,941-$1,580,295
2020$1,418,631$-64,907▲ $93,630-$1,447,354
2019$1,263,265$38,681▲ $116,685-$1,418,631
2018$1,281,544-▼ $18,279-$1,263,265
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleBaseOtherTotal
Robert CarreauTrustee$171,220-$171,220
-Executive Director and Sec-$166,932$166,932
Kevin SmithTrustee$23,816-$23,816
Herb SchultzTrustee$3,036-$3,036

Board Members and Trustees

NameTitle
Omayra Padilla DejesusChair
Martha AsselinVice Chair
Robert CarreauExecutive Director and Sec
-Assistant Treasurer
Alfred TompkinsDistribution Committee Mem
Johan MatthewsDistribution Committee Mem
Joseph TardiDistribution Committee Mem
Kimberly KilbyDistribution Committee Mem
Mona GolubDistribution Committee Mem
Michael OzimekTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$438,199
Program Service Revenue
$0
Investment Income
$1,353,803
Other Revenue
$0
All Other Contributions
$438,199
Change in Net Assets
$-626,617

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,792,002
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-9,649,724
Total Revenue per Audited Statements
$-7,857,722
Total Revenue per Form 990
$1,792,002
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,368,917
Other Expenses$1,049,702
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,344,167--$1,344,167
Payments to Affiliates$788,522--$788,522
Fees for Service Investment Mgmnt Fees-$198,072-$198,072
Fees for Services Other-$63,108-$63,108
Grants to Domestic Individuals$24,750--$24,750
Total Functional Expenses$2,157,439$261,180$0$2,418,619

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,418,619
Expenses per Audited Statements$2,220,547
Total Expenses per Audited Statements$2,220,547
Expenses Not Reported on Financial Statements$198,072
Other Expense Adjustments$198,072
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Schenectady Community Action Program-501(c)(3)Scap Campus Project$500,000
Cornell Cooperative Extension-501(c)(3)Health Living 360 - Part 2$150,000
Schenectady Inner City Ministries-501(c)(3)ACCESS, SOLIDARITY AND IMPACT; SOLARIZING FEHR AVE FARM$109,700
The Food Pantries of the Capital District-501(c)(3)Expanded Access to Health Foods in Schenectady County$100,000
City Mission of Schenectady-501(c)(3)GENERAL OPERATIONS; BRIDGES TO WELLNESS AGRICULTURAL PROGRAM$75,000
Free Food Fridge Albany-501(c)(3)Free Food Fridge Schenectady$75,000
Destine Preparatory Charter School-501(c)(3)Improve Reading Achievement Initiative$70,000
Schenectady Municipal Housing Authority-501(c)(3)GROCERY ACCESS POINT: GAP$51,000
Center for Community Justice-501(c)(3)Legal Hand Program$50,000
Schenectady Greenmarket-501(c)(3)GREENMARKET'S FOOD BOX PROGRAM$35,000
Downtown Schenectady Improvement Corp-501(c)(3)General Operations$25,000
Brightside Up-501(c)(3)PARENTCHILD+ ;HOME VISITS AND EDUCATIONAL TOOLS$10,000
Music Haven-501(c)(3)Music Haven Concert Series 2022$10,000
Create Community Studios-501(c)(3)Strategic & Business Planning$9,800
Clarkson University-501(c)(3)Rise High Program Expansion$8,500
Boys & Girls Clubs of Schenectady-501(c)(3)Ski Program for Schenectady Youth$7,500
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
Michael OzimekAssistant TreasurerMICHAEL 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-
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 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.”

Filing and Contact Details

Filer

Filer Name
The Schenectady Foundation
EIN
14-6019650
Phone
5183939500
Address
P O BOX 710, SCHENECTADY, NY 12301

Signing Officer

Name
John Bresonis
Title
Institutional Trustee
Phone
5183939500
Signed
2023-09-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Carreau
Formed
1962
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
15

Preparer

Firm
Mengel Metzger Barr & Co Llp
Address
11 BRITISH AMERICAN BLVD, LATHAM, NY 12110
Preparer
Alan W Clink CPA
Phone
5187850134
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in value of beneficial interest in trusts 75,200.”

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 75,200. Trustee fees -198,072.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“TRUSTEE FEES 198,072.”

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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/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt73036
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt8171220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt923816
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt11148734
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/TitleTxt0DISTRIBUTION COMMITTEE MEM
IRS990/Form990PartVIISectionAGrp/TitleTxt1DISTRIBUTION COMMITTEE MEM
IRS990/Form990PartVIISectionAGrp/TitleTxt2DISTRIBUTION COMMITTEE MEM
IRS990/Form990PartVIISectionAGrp/TitleTxt3DISTRIBUTION COMMITTEE MEM
IRS990/Form990PartVIISectionAGrp/TitleTxt4DISTRIBUTION COMMITTEE MEM
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt11EXECUTIVE DIRECTOR AND SEC
IRS990/Form990PartVIISectionAGrp/TitleTxt12ASSISTANT TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13ASSISTANT TREASURER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01962
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt0119494
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantAmt02157439
IRS990/GrantsPayableGrp/BOYAmt01175050
IRS990/GrantsPayableGrp/EOYAmt01875375
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt024750
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt024750
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01344167
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01344167
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd01
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0788857
IRS990/GrossReceiptsAmt02461365
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt01234309
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01234309
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt047876940
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt039222393
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NY
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0669363
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 HEALTH AND WELFARE OF PEOPLE, ORGANIZATIONS AND NEIGHBORHOODS IN SCHENECTADY COUNTY THROUGH THE INVESTMENT OF PHILANTHROPIC RESOURCES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt054024113
IRS990/NetAssetsOrFundBalancesEOYAmt043945844
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0119494
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0119494
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-9526852
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt047515290
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt037704358
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03234900
IRS990/OtherAssetsTotalGrp/EOYAmt03310100
IRS990/OtherChangesInNetAssetsAmt075200
IRS990/OtherOrganizationDsc0CHARITABLE COMMUNITY TRUST
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt0788522
IRS990/PaymentsToAffiliatesGrp/TotalAmt0788522
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01770700
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01473600
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ROBERT CARREAU
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01292456
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01528800
IRS990/PYInvestmentIncomeAmt04149814
IRS990/PYOtherExpensesAmt0820158
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt03093312
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02348958
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt05442270
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-626617
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02287618
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01773742
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 2022, THE FOUNDATION, IN FACT, GENERATED $438,199 IN GIFTS AND CONTRIBUTIONS (OR 26.2% 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.
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0438199
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01454656
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01040696
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0949955
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0585343
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04468849
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01234309
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01800689
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01345354
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01248736
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01159371
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt06788459
IRS990ScheduleA/PublicSupportCY170Pct00.27910
IRS990ScheduleA/PublicSupportPY170Pct00.31900
IRS990ScheduleA/PublicSupportTotal170Amt03142448
IRS990ScheduleA/SubstantialContributorsTotAmt01326401
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0438199
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01454656
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01040696
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0949955
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0585343
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04468849
IRS990ScheduleA/TotalSupportAmt011257308
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/BeginningYearBalanceAmt01580295
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt01387995
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-192300
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt01447354
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01580295
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0132941
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt01418631
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0-64907
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt01447354
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt093630
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt01263265
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt038681
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01418631
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0116685
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt01281544
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01263265
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-18279
IRS990ScheduleD/DisclosedForCharitablePrpsInd01
IRS990ScheduleD/DisclosedOrgLegCtrlInd01
IRS990ScheduleD/DonorAdvisedFundsGrantsAmt052500
IRS990ScheduleD/DonorAdvisedFundsHeldCnt02
IRS990ScheduleD/DonorAdvisedFundsVlEOYAmt0365276
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0198072
IRS990ScheduleD/ExpensesSubtotalAmt02220547
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-9526852
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03310100
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0BENEFICIAL INTEREST IN PERPETUAL TRUSTS
IRS990ScheduleD/OtherExpensesNotIncludedAmt0198072
IRS990ScheduleD/OtherRevenueAmt0-122872
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0906523
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt11388356
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt21384038
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt3684398
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt41209405
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt51185134
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt619704901
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt712747668
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt83001
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt93287
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt105682
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/Desc8FEDERATED HERMES STR VALUE DIV
IRS990ScheduleD/OtherSecuritiesGrp/Desc9COLUMBIA DIVIDEND INCOME Y
IRS990ScheduleD/OtherSecuritiesGrp/Desc10FIDELITY CONTRAFUND
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/OtherSecuritiesGrp/MethodValuationCd8F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd9F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd10F
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.68657
IRS990ScheduleD/RevenueNotReportedAmt0-9649724
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01792002
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 75,200. TRUSTEE FEES -198,072.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3TRUSTEE FEES 198,072.
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/TermEndowmentBalanceEOYPct00.31343
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$45,821,219
Liabilities
$1,875,375
Net assets
$43,945,844
Revenue
$1,792,002
Expenses
$2,418,619
Net income
-$626,617
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
2022Detailed filing. Detailed filing data is available for this year.$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
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$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