Queens College Foundation INC FY2023 filing

Tax-deductible

Flushing, NY501(c)(3)Since 1980EIN 11-6080521Revenue $12.5M in FY2023

On file with the IRSqc.cuny.edu/supportqc6530 Kissena Blvd, 11367-1575 · Flushing, NYTax-exempt since Mar 1967Publicly supported charity — 170(b)(1)(A)(vi)

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501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$150K paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $6.1M a year · 36% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$150K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $156K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$631K
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
31
of 31 voting members
Looks good: 31 of 31 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$12.5M
-31% vs prior year
Spent
$10.8M
To programs
72%
Net assets
$102.2M
By yearFY2020–FY2025
Revenue
$12.5M
FY2023▼ -31%
Tap a bar for its year
Revenue by fiscal year
FY2020$12.0M
FY2021$14.0M
FY2022$18.0M
FY2023$12.5M
FY2024$21.7M
FY2025$22.8M
Expenses
$10.8M
FY2023▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$9.6M
FY2021$9.5M
FY2022$9.2M
FY2023$10.8M
FY2024$11.7M
FY2025$14.0M
Net assets
$102.2M
FY2023▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$85.0M
FY2021$102.6M
FY2022$95.6M
FY2023$102.2M
FY2024$112.4M
FY2025$124.1M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1967.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $7.8M Management & general 20% · $2.1M Fundraising 8% · $868K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

34 people listed on the 990; $150K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$149,551Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Maureen Giannotti$153,918$151,893$149,551$144,680$142,177$145,360

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Raises and manages funds to support Queens College students, faculty, and educational programs through scholarships, research, and special projects.

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Provided by the organization

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1 program · $7.8M · in their own filed words · FY2022
01

Queens college foundation was founded in 1980 for the purpose of developing and increasing resources at queens college to provide more extensive educational opportunities to students and services to faculty.

$7.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 6 funders →
Grants paid · 10 grants · $20.4M · 2019–2024
Unitemized GrantFY2024$3,702,153
Queens College CUNYFY2023$178,816
Unitemized GrantFY2022$4,002,168
Queens College CUNYFY2022$396,679
Unitemized GrantFY2021$3,072,997
Queens College CUNYFY2021$532,440
Unitemized GrantFY2020$3,865,769
Queens College CUNYFY2020$866,882
Unitemized GrantFY2019$2,781,011
Queens College CUNYFY2019$1,036,056

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$12.5M
Ln 12
Gifts and grantsLn 1h$9.3M
Investment incomeLn 3$3.2M
Other incomeLn 4–11$20K
Money outPt IX
$10.8M
Ln 25
Programscol B$7.8M
Managementcol C$2.1M
Fundraisingcol D$868K
Owns and owesPt X
$102.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$102.9M
LiabilitiesLn 26$631K
PeoplePt VI, VII
34
listed · VII A
PaidVII A1
Voting boardVI 1a31
IndependentVI 1b31
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$9.3M
Government grantsLn 1e$318K
Noncash giftsLn 1g$231K
Fundraising eventsLn 1c$693K
Investment incomeLn 3$3.2M
Other incomeLn 4–11$20K
Gains on assetsLn 7$518K
Total revenueLn 12$12.5M
Assets in detailPt X, end of year
CashLn 1$692K
SavingsLn 2$993K
Cash and savings togetherLn 1–2$1.7M
InvestmentsLn 11–13$87.1M
Other assetsLn 15$4.9M
Total assetsLn 16$102.9M
LiabilitiesLn 26$631K
Net assetsLn 32$102.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 651
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$8.9M$1.7M
InvestmentsLn 11–13$74.0M$87.1M
Total assetsLn 16$97.3M$102.9M
LiabilitiesLn 26$1.6M$631K
Net assetsLn 32$95.6M$102.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$397K$397K
Grants to domestic individualsLn 2$4.0M$4.0M
Other salaries and wagesLn 7$1.8M$187K$1.2M$463K
Other employee benefitsLn 9$648K$57K$410K$181K
Payroll taxesLn 10$244K$21K$154K$68K
Accounting feesLn 11c$60K$60K
Other fees for servicesLn 11g$1.6M$1.5M$75K$69K
Advertising and promotionLn 12$183K$182K$1K
Office expensesLn 13$747K$531K$150K$66K
OccupancyLn 16$105K$98K$7K
TravelLn 17$291K$288K$983$2K
Conferences, conventions and meetingsLn 19$476K$396K$62K$19K
InsuranceLn 23$6K$3K$3K
Other expenses (24a–d)Ln 24$154K$154K
All other expensesLn 24e$35K$2K$33K
Total functional expensesLn 25$10.8M$7.8M$2.1M$868K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $22.8M$14.0M$8.8M$124.1M 990 PDF
FY2024 $21.7M$11.7M$10.0M$112.4M 990 PDF
FY2023 Viewing $12.5M$10.8M$1.7M$102.2M 990 PDF
FY2022 $18.0M$9.2M$8.9M$95.6M 990 PDF
FY2021 $14.0M$9.5M$4.5M$102.6M 990 PDF
FY2020 $12.0M$9.6M$2.4M$85.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $12,520,751 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,687,460$9,330,434
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $5,408,002$3,170,026
I-11 Other revenuePrior year −$49,545$20,291
I-12 Total revenuePrior year $18,045,917$12,520,751
I-13 Grants and similar amounts paidPrior year $3,615,858$4,420,422
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,587,252$2,732,820
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,968,795$3,685,485
I-18 Total expensesPrior year $9,171,905$10,838,727
I-19 Revenue less expensesPrior year $8,874,012$1,682,024
Part VI · Governance 31 of 31 board members independent, 1 to look at
VI-1a Voting members of the governing body31
VI-1b Independent voting members31
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $12,520,751 across 10 lines filed
Lines not itemized here account for $66,132 of total revenue; see the IRS return.
VIII-1c Fundraising events$693,127
VIII-1e Government grants$318,040
VIII-1f All other contributions, gifts and grants$8,319,267
VIII-1g Noncash contributions (included above)$230,569
VIII-1h Total contributions, gifts and grants$9,330,434
VIII-3 Investment incomeExcluded from tax $2,651,578$2,651,578
VIII-7 Net gain or loss on sales of assetsExcluded from tax $518,448$518,448
VIII-8 Net income from fundraising eventsExcluded from tax −$98,973−$98,973
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $53,132$53,132
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $3,190,317$12,520,751
Part IX · Statement of functional expenses $10,838,727 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $396,679$396,679
IX-2 Grants to domestic individualsPrograms $4,023,743$4,023,743
IX-7 Other salaries and wagesPrograms $186,644 · Management $1,190,697 · Fundraising $463,471$1,840,812
IX-9 Other employee benefitsPrograms $57,173 · Management $410,324 · Fundraising $180,934$648,431
IX-10 Payroll taxesPrograms $21,477 · Management $154,134 · Fundraising $67,966$243,577
IX-11c Accounting feesManagement $60,417$60,417
IX-11g Other fees for servicesPrograms $1,483,195 · Management $75,369 · Fundraising $69,220$1,627,784
IX-12 Advertising and promotionPrograms $181,983 · Management $1,460$183,443
IX-13 Office expensesPrograms $530,817 · Management $149,977 · Fundraising $65,916$746,710
IX-16 OccupancyPrograms $97,819 · Management $6,887$104,706
IX-17 TravelPrograms $287,628 · Management $983 · Fundraising $2,052$290,663
IX-19 Conferences, conventions and meetingsPrograms $395,639 · Management $61,980 · Fundraising $18,752$476,371
IX-23 InsurancePrograms $3,395 · Management $2,518$5,913
IX-24 Other expenses (24a–d)Programs $154,245$154,245
IX-24e All other expensesPrograms $1,956 · Management $33,277$35,233
IX-25 Total functional expensesPrograms $7,822,393 · Management $2,148,023 · Fundraising $868,311$10,838,727
Part X · Balance sheet $102,852,173 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $856,951$691,680
X-2 Savings and temporary cash investmentsStart of year $8,041,591$992,919
X-3 Pledges and grants receivableStart of year $8,008,141$7,510,428
X-9 Prepaid expenses and deferred chargesStart of year $1,463,183$1,643,632
X-11 Publicly traded securitiesStart of year $68,602,010$80,892,647
X-12 Other securitiesStart of year $5,437,656$6,252,577
X-15 Other assetsStart of year $4,861,774$4,868,290
X-16 Total assetsStart of year $97,271,306$102,852,173
X-17 Accounts payable and accrued expensesStart of year $1,631,600$631,491
X-26 Total liabilitiesStart of year $1,631,600$631,491
X-27 Net assets without donor restrictionsStart of year $19,229,561$19,480,193
X-28 Net assets with donor restrictionsStart of year $76,410,145$82,740,489
X-32 Total net assets or fund balancesStart of year $95,639,706$102,220,682
X-33 Total liabilities and net assetsStart of year $97,271,306$102,852,173
Part XI · Reconciliation of net assets $102,220,682 net assets at year end
XI-1 Total revenue$12,520,751
XI-2 Total expenses$10,838,727
XI-3 Revenue less expenses$1,682,024
XI-4 Net assets at start of year$95,639,706
XI-5 Net unrealized gains (losses) on investments$4,898,952
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$102,220,682

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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