The Foundation was incorporated under the not-for-profit laws of the state of new york for the promotion and support of Purchase College, state university of new york. Uniquely, Purchase College combines both renowned and highly selective professional and conservatory arts programs with distinguished liberal arts and sciences programs. The largest programs are in visual arts, music, liberal studies, psychology, dance, biology, journalism and new media.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
3 of 6
filings with a surplus
Average surplus $1.4M a year · 18% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
11 mo
of spending, in cash
Plus $103.6M in investments, Pt X · Ln 11–13
Looks good: 10.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $70K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$14.6M
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 17 voting members
Looks good: 16 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.7M
+204% vs prior year
Spent
$4.9M
To programs
90%
Net assets
$94.3M
By yearFY2020–FY2025
Revenue
$15.7M
FY2021▲ +204%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.2M
FY2021$15.7M
FY2022$10.8M
FY2023$3.2M
FY2024$3.2M
FY2025$7.7M
Expenses
$4.9M
FY2021▼ -34%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.4M
FY2021$4.9M
FY2022$5.0M
FY2023$6.0M
FY2024$7.5M
FY2025$6.8M
Net assets
$94.3M
FY2021▲ +22%
Tap a bar for its year
Net assets by fiscal year
FY2020$77.5M
FY2021$94.3M
FY2022$82.1M
FY2023$85.5M
FY2024$89.8M
FY2025$94.4M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2021 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 Jul 1970.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $4.4M Management & general 8% · $368K Fundraising 2% · $118K

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

21 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Purchase College 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

Supports Purchase College's arts and liberal arts programs.

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3 programs · $3.1M · in their own filed words · FY2020
01

Institutional scholarships are awarded by the college using funds from the purchase college foundation, as well as other sources. Foundation funds come from the generous contributions of donors to the foundation. These donors are individuals, families, foundations and cororations.

$1.7Mprogram expense
02

The performing arts center, a four theater complex at purchase college is the major professional, not-for-profit arts presenter in southeastern new york-southwestern connecticut region. Presentations include professional artists, special programs for k-12, various special events and presentations by purchase college conservatories of…

$817Kprogram expense
03

The neuberger museum of art is the premier museum of modern, contemporary and african art in westchester and fairfield counties. A teaching museum, the neuberger promotes the appreciation and enjoyment of the visual arts as inseparable from an understanding of their place in cultural and intellectual history and their relevance to…

$554Kprogram 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
Total grants receivedfrom 1 funder$70K
Grants paid · 6 grants · $12.1M · 2019–2024
Unitemized GrantFY2024$1,904,765
Unitemized GrantFY2023$2,418,752
Unitemized GrantFY2022$2,299,228
Unitemized GrantFY2021$1,779,038
Unitemized GrantFY2020$1,692,146
Unitemized GrantFY2019$2,006,769

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$15.7M
Ln 12
Investment incomeLn 3$13.5M
Gifts and grantsLn 1h$2.1M
Fees for servicesLn 2g$189K
Money outPt IX
$4.9M
Ln 25
Programscol B$4.4M
Managementcol C$368K
Fundraisingcol D$118K
Owns and owesPt X
$94.3M
net assets · Ln 32
Cash and savingsLn 1–2$4.4M
Total assetsLn 16$108.9M
LiabilitiesLn 26$14.6M
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.1M
Fees for servicesLn 2g$189K
Investment incomeLn 3$13.5M
Gains on assetsLn 7$11.7M
Total revenueLn 12$15.7M
Assets in detailPt X, end of year
CashLn 1$3.5M
SavingsLn 2$847K
Cash and savings togetherLn 1–2$4.4M
InvestmentsLn 11–13$103.6M
Other assetsLn 15$13K
Total assetsLn 16$108.9M
LiabilitiesLn 26$14.6M
Net assetsLn 32$94.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 643
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 FY21End FY21
Cash and savingsLn 1–2$3.5M$4.4M
InvestmentsLn 11–13$76.4M$103.6M
Total assetsLn 16$80.5M$108.9M
LiabilitiesLn 26$3.0M$14.6M
Net assetsLn 32$77.5M$94.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1.7M$1.7M
Other salaries and wagesLn 7$1.4M$1.4M
Other employee benefitsLn 9$4K$4K
Legal feesLn 11b$40K$40K
Accounting feesLn 11c$65K$65K
Investment management feesLn 11f$141K$141K
Other fees for servicesLn 11g$437K$375K$61K
Office expensesLn 13$356K$202K$119K$35K
TravelLn 17$16K$16K
InsuranceLn 23$49K$49K
Other expenses (24a–d)Ln 24$661K$637K$3K$21K
Total functional expensesLn 25$4.9M$4.4M$368K$118K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $7.7M$6.8M$913K$94.4M 990 PDF
FY2024 $3.2M$7.5M−$4.2M$89.8M 990 PDF
FY2023 $3.2M$6.0M−$2.8M$85.5M 990 PDF
FY2022 $10.8M$5.0M$5.8M$82.1M 990 PDF
FY2021 Viewing $15.7M$4.9M$10.9M$94.3M 990 PDF
FY2020 $5.2M$7.4M−$2.2M$77.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $15,741,268 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,385,211$2,097,359
I-9 Program service revenuePrior year $1,597,159$188,698
I-10 Investment incomePrior year $2,195,695$13,455,211
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $5,178,065$15,741,268
I-13 Grants and similar amounts paidPrior year $2,006,769$1,692,146
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,919,491$1,419,647
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,460,475$1,764,831
I-18 Total expensesPrior year $7,386,735$4,876,624
I-19 Revenue less expensesPrior year −$2,208,670$10,864,644
Part VI · Governance 16 of 17 board members independent, 1 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members16
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $15,741,268 across 6 lines filed
VIII-1f All other contributions, gifts and grants$2,097,359
VIII-1h Total contributions, gifts and grants$2,097,359
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $188,698$188,698
VIII-3 Investment incomeExcluded from tax $1,745,558$1,745,558
VIII-7 Net gain or loss on sales of assetsExcluded from tax $11,709,653$11,709,653
VIII-12 Total revenueRelated to mission $188,698 · Unrelated business $0 · Excluded from tax $13,455,211$15,741,268
Part IX · Statement of functional expenses $4,876,624 across 11 lines filed
IX-2 Grants to domestic individualsPrograms $1,692,146$1,692,146
IX-7 Other salaries and wagesPrograms $1,415,647$1,415,647
IX-9 Other employee benefitsPrograms $4,000$4,000
IX-11b Legal feesManagement $39,940$39,940
IX-11c Accounting feesManagement $64,928$64,928
IX-11f Investment management feesManagement $140,830$140,830
IX-11g Other fees for servicesPrograms $375,384 · Fundraising $61,470$436,854
IX-13 Office expensesPrograms $201,999 · Management $119,408 · Fundraising $34,999$356,406
IX-17 TravelPrograms $16,282$16,282
IX-23 InsurancePrograms $48,804$48,804
IX-24 Other expenses (24a–d)Programs $636,908 · Management $2,660 · Fundraising $21,219$660,787
IX-25 Total functional expensesPrograms $4,391,170 · Management $367,766 · Fundraising $117,688$4,876,624
Part X · Balance sheet $108,902,427 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $2,495,864$3,506,965
X-2 Savings and temporary cash investmentsStart of year $997,378$847,378
X-3 Pledges and grants receivableStart of year $386,780$910,246
X-4 Accounts receivableStart of year $30,216$9,695
X-9 Prepaid expenses and deferred chargesStart of year $29,021$14,012
X-11 Publicly traded securitiesStart of year $49,813,803$42,418,410
X-12 Other securitiesStart of year $26,596,704$61,182,282
X-15 Other assetsStart of year $105,706$13,439
X-16 Total assetsStart of year $80,455,472$108,902,427
X-17 Accounts payable and accrued expensesStart of year $530,246$162,118
X-19 Deferred revenueStart of year $129,659$99,510
X-25 Other liabilitiesStart of year $2,299,191$14,300,443
X-26 Total liabilitiesStart of year $2,959,096$14,562,071
X-27 Net assets without donor restrictionsStart of year $6,455,846$8,122,103
X-28 Net assets with donor restrictionsStart of year $71,040,530$86,218,253
X-32 Total net assets or fund balancesStart of year $77,496,376$94,340,356
X-33 Total liabilities and net assetsStart of year $80,455,472$108,902,427
Part XI · Reconciliation of net assets $94,340,356 net assets at year end
XI-1 Total revenue$15,741,268
XI-2 Total expenses$4,876,624
XI-3 Revenue less expenses$10,864,644
XI-4 Net assets at start of year$77,496,376
XI-5 Net unrealized gains (losses) on investments$5,979,336
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$94,340,356

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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