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Cornell University Foundation

Tax-deductible

Ithaca, NY501(c)(3)Since 1986Colleges & UniversitiesEIN 22-2848738

The cornell university foundation is a donor advised fund providing a service for cornell alumni and friends who wish to make charitable gifts through the structure of a donor-advised fund.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $1.2M a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $9K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$97K
0.05% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$27.9M
+49% vs prior year
Spent
$22.5M
To programs
94%
Net assets
$198.2M
By yearFY2020–FY2024
Revenue
$27.9M
FY2024▲ +49%
Revenue by fiscal year
FY2020$39.1M
FY2021$29.2M
FY2022$18.3M
FY2023$41.0M
FY2024$18.8M
FY2024$27.9M
Expenses
$22.5M
FY2024▲ +52%
Expenses by fiscal year
FY2020$33.4M
FY2021$50.0M
FY2022$28.4M
FY2023$25.5M
FY2024$14.8M
FY2024$22.5M
Net assets
$198.2M
FY2024▲ +7%
Net assets by fiscal year
FY2020$166.5M
FY2021$179.7M
FY2022$165.9M
FY2023$176.7M
FY2024$185.5M
FY2024$198.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2024.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $21.1M Management & general 6% · $1.4M

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Tracy Cary
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
See Cornell University Foundation executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Manages donor-advised funds that allow Cornell alumni and friends to direct charitable gifts to the university and other nonprofit organizations.

Provided by the organization

This section is blank until Cornell University Foundation claims this page.

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1 program service account for $21.1M of program spending, described in the organization's own filed words · FY2024.
01

The organization provides allocations to cornell university and other charitable organizations.

$21.1Mprogram expense

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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
Community Foundation of Tompkins County INCFY2025$9K
Total grants receivedfrom 1 funder$9K
Grants paid · 575 grants · $166.1M · 2019–2024
Cornell UniversityNY · FY2024$12,072,105
Mass General Brigham IncorporatedMA · FY2024$1,345,000
Stem Next Opportunity FundCA · FY2024$850,000
Tumblehome INCMA · FY2024$800,000
Saratoga Springs Performing Arts Center INCNY · FY2024$750,000
Young Mens Christian Association of the Capital DistrictNY · FY2024$500,000
Skidmore CollegeNY · FY2024$352,500
Saratoga Arts INCNY · FY2024$300,000
Hudson Headwaters Health NetworkNY · FY2024$275,000
Trustees of Boston UniversityMA · FY2024$250,000
St Peters Health PartnersFY2024$250,000
Proctors CollaborativeNY · FY2024$250,000
Glens Falls Hospital FoundationNY · FY2024$250,000
University of Illinois FoundationIL · FY2024$200,000
University of Colorado FoundationCO · FY2024$175,000
East Haddam CT Board of EducationFY2024$141,133
Girls Incorporated of the Greater Capital RegionNY · FY2024$115,000
Troy Savings Bank Music Hall CorporationNY · FY2024$100,000
See all 575 grants →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$27.9M
Ln 12
Investment incomeLn 3$15.1M
Gifts and grantsLn 1h$12.8M
Money outPt IX
$22.5M
Ln 25
Programscol B$21.1M
Managementcol C$1.4M
Owns and owesPt X
$198.2M
net assets · Ln 32
Cash and savingsLn 1–2$2.8M
Total assetsLn 16$198.3M
LiabilitiesLn 26$97K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12.8M
Noncash giftsLn 1g$7.5M
Investment incomeLn 3$15.1M
Gains on assetsLn 7$13.6M
Total revenueLn 12$27.9M
Assets in detailPt X, end of year
SavingsLn 2$2.8M
Cash and savings togetherLn 1–2$2.8M
InvestmentsLn 11–13$194.2M
Other assetsLn 15$1.3M
Total assetsLn 16$198.3M
LiabilitiesLn 26$97K
Net assetsLn 32$198.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$597K$2.8M
InvestmentsLn 11–13$183.9M$194.2M
Total assetsLn 16$185.6M$198.3M
LiabilitiesLn 26$96K$97K
Net assetsLn 32$185.5M$198.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$21.1M$21.1M
Grants to domestic individualsLn 2$5K$5K
Accounting feesLn 11c$18K$18K
Investment management feesLn 11f$1.2M$1.2M
Other expenses (24a–d)Ln 24$190K$190K
Total functional expensesLn 25$22.5M$21.1M$1.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $18.8M$14.8M$3.9M$185.5M 990 PDF
FY2023 $41.0M$25.5M$15.4M$176.7M 990 PDF
FY2022 $18.3M$28.4M−$10.1M$165.9M 990 PDF
FY2021 $29.2M$50.0M−$20.8M$179.7M 990 PDF
FY2020 $39.1M$33.4M$5.7M$166.5M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $27,921,987 across 7 lines filed
VIII-1f All other contributions, gifts and grants$12,847,312
VIII-1g Noncash contributions (included above)$7,543,084
VIII-1h Total contributions, gifts and grants$12,847,312
VIII-3 Investment incomeExcluded from tax $1,470,180$1,470,180
VIII-7 Net gain or loss on sales of assetsExcluded from tax $13,612,245$13,612,245
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$7,750−$7,750
VIII-12 Total revenueRelated to mission −$7,750 · Unrelated business $0 · Excluded from tax $15,082,425$27,921,987
Part IX · Statement of functional expenses $22,507,832 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $21,106,602$21,106,602
IX-2 Grants to domestic individualsPrograms $5,140$5,140
IX-11c Accounting feesManagement $17,500$17,500
IX-11f Investment management feesManagement $1,188,235$1,188,235
IX-24 Other expenses (24a–d)Management $190,355$190,355
IX-25 Total functional expensesPrograms $21,111,742 · Management $1,396,090 · Fundraising $0$22,507,832
Part X · Balance sheet $198,346,615 assets, 10 lines filed
X-2 Savings and temporary cash investmentsStart of year $596,596$2,816,673
X-11 Publicly traded securitiesStart of year $5,400,835$1,641,955
X-12 Other securitiesStart of year $178,463,758$192,552,508
X-15 Other assetsStart of year $1,139,736$1,335,479
X-16 Total assetsStart of year $185,600,925$198,346,615
X-18 Grants payableStart of year $96,000$96,750
X-26 Total liabilitiesStart of year $96,000$96,750
X-27 Net assets without donor restrictionsStart of year $185,504,925$198,249,865
X-32 Total net assets or fund balancesStart of year $185,504,925$198,249,865
X-33 Total liabilities and net assetsStart of year $185,600,925$198,346,615
Part XI · Reconciliation of net assets $198,249,865 net assets at year end
XI-1 Total revenue$27,921,987
XI-2 Total expenses$22,507,832
XI-3 Revenue less expenses$5,414,155
XI-4 Net assets at start of year$185,504,925
XI-5 Net unrealized gains (losses) on investments$7,135,042
XI-9 Other changes in net assets$195,743
XI-10 Net assets at end of year$198,249,865

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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