Research Foundation of the City Un… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1963

Legal Domicile

Phone

2124178580

Tax Period

2022-07-01 to 2023-06-30

Research Foundation of the City University of New York, founded in 1963, is a major nonprofit in the Education sector that reported $600.3M in total revenue in fiscal year 2022. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

THE RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK (THE FOUNDATION) IS A PRIVATE, NOT-FOR-PROFIT EDUCATIONAL CORPORATION CHARTERED BY THE STATE OF NEW YORK IN 1963. ALTHOUGH THE FOUNDATION PERFORMS A VARIETY OF SERVICES FOR THE CITY UNIVERSITY OF NEW YORK (THE UNIVERSITY), IT IS A SEPARATE LEGAL ENTITY GOVERNED BY ITS OWN BOARD OF DIRECTORS AND OPERATED BY ITS OWN MANAGEMENT TEAM PURSUANT TO THE FOUNDATION'S BYLAWS, POLICIES AND PROCEDURES. THE FOUNDATION RECEIVES, HOLDS AND ADMINISTERS GIFTS, GRANTS AND CONTRACTS; ACTS AS TRUSTEE OF EDUCATIONAL OR CHARITABLE TRUSTS; FINANCES THE CONDUCT OF STUDIES AND RESEARCH IN ALL FIELDS OF INTELLECTUAL INQUIRY; ASSISTS IN DEVELOPING AND INCREASING FACILITIES; AND PERFORMS OTHER TASKS IN SUPPORT OF THE EDUCATIONAL AND COMMUNITY SERVICE OBJECTIVES OF THE UNIVERSITY. THE FOUNDATION EMPLOYS STAFF; ENTERS INTO CONTRACTUAL RELATIONSHIPS; AND ACQUIRES SUCH FACILITIES, GOODS AND SERVICES AS ARE APPROPRIATE TO ITS PURPOSE.

Program Service Accomplishments

Program 1

Expenses: $210,465,188 Revenue: $13,833,413

ORGANIZED RESEARCH - INCLUDES ALL EXTERNALLY FUNDED RESEARCH ACTIVITIES, BOTH BASIC AND APPLIED, AND ALL DEVELOPMENT ACTIVITIES. A SYSTEMATIC, INTENSIVE STUDY INTENDED TO INCREASE KNOWLEDGE OR...

ORGANIZED RESEARCH - INCLUDES ALL EXTERNALLY FUNDED RESEARCH ACTIVITIES, BOTH BASIC AND APPLIED, AND ALL DEVELOPMENT ACTIVITIES. A SYSTEMATIC, INTENSIVE STUDY INTENDED TO INCREASE KNOWLEDGE OR UNDERSTANDING OF THE SUBJECT STUDIED, SPECIFICALLY DIRECTED TOWARD APPLYING A NEW KNOWLEDGE TO MEET A RECOGNIZED NEED, OR A SYSTEMATIC APPLICATION OF KNOWLEDGE TO THE PRODUCTION OF USEFUL MATERIALS, DEVISES, AND SYSTEMS OR METHODS, INCLUDING DESIGN, DEVELOPMENT, AND IMPROVEMENT OF PROTOTYPES AND NEW PROCESSES TO MEET SPECIFIC REQUIREMENTS. IT ALSO INCLUDES ACTIVITIES RELATED TO TRAINING OF INDIVIDUALS IN RESEARCH TECHNIQUES (COMMONLY CALLED RESEARCH TRAINING) WHERE SUCH ACTIVITIES UTILIZE THE SAME FACILITIES AS OTHER RESEARCH DEVELOPMENT ACTIVITIES.

Program 2

Expenses: $153,949,304 Revenue: $8,249,366

OTHER SPONSORED ACTIVITY - PROGRAMS AND PROJECTS FUNDED BY FEDERAL AND NON-FEDERAL AGENCIES AND ORGANIZATIONS THAT INVOLVE THE PERFORMANCE OF WORK OR ACTIVITIES THAT ARE NOT CONSIDERED INSTRUCTION...

OTHER SPONSORED ACTIVITY - PROGRAMS AND PROJECTS FUNDED BY FEDERAL AND NON-FEDERAL AGENCIES AND ORGANIZATIONS THAT INVOLVE THE PERFORMANCE OF WORK OR ACTIVITIES THAT ARE NOT CONSIDERED INSTRUCTION AND ORGANIZED RESEARCH THAT BENEFIT THE GENERAL PUBLIC OR SECTORS OF THE COMMUNITY. OSA TYPICALLY INCLUDE COMMUNITY OUTREACH OR DEVELOPMENT OF PUBLIC EDUCATION PROGRAMS.

Program 3

Expenses: $147,485,217 Revenue: $8,457,104

INSTRUCTION/TRAINING - INCLUDES ALL SPONSORED TEACHING AND TRAINING ACTIVITIES, EXCEPT FOR RESEARCH TRAINING, OF AN INSTITUTION WHETHER OFFERED FOR CREDIT TOWARD A DEGREE OR CERTIFICATE, ON A...

INSTRUCTION/TRAINING - INCLUDES ALL SPONSORED TEACHING AND TRAINING ACTIVITIES, EXCEPT FOR RESEARCH TRAINING, OF AN INSTITUTION WHETHER OFFERED FOR CREDIT TOWARD A DEGREE OR CERTIFICATE, ON A NON-CREDIT BASIS, OR THROUGH REGULAR ACADEMIC DEPARTMENTS OR BY SEPARATE DIVISIONS, SUCH AS SUMMER SESSION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $560,421,167

Program Service Revenue $38,219,841

Investment Income $3,184,809

Other Revenue $-1,492,307

TOTAL REVENUE $600,333,510

Expense Breakdown

Grants Paid $23,609,766

Salaries & Benefits $346,664,994

Fundraising Expenses $13,000

Program Expenses $560,412,196

Other Expenses $222,550,338

TOTAL EXPENSES $592,838,098

Year-over-Year Comparison

	2022	2021	Change
Revenue	$600,333,510	$518,290,887	+0.2%
Expenses	$592,838,098	$514,798,703	+0.2%
Net Income	$7,495,412	$3,492,184	+1.1%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

12884

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,650,007

Total Directors

$214

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	BOARD MEMBER-AS OF 07/01/22	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER-AS OF 07/01/22	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER	0.2	Director	$0	$0	$0
N/A	Chairperson	0.3	Director	$0	$0	$0
N/A	BOARD MEMBER	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER	0.2	Director	$0	$0	$0
N/A	VICE CHAIR	0.3	Director	$0	$0	$0
N/A	BOARD MEMBER-AS OF 03/20/23	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER-GRAD STUDENT	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER	0.2	Director	$0	$0	$0
N/A	BOARD MEMBER-AS OF 03/24/23	0.2	Director	$214	$0	$214
N/A	CHIEF FINANCIAL OFFICER	35.0	Officer	$222,739	$59,468	$282,207
N/A	PRESIDENT	35.0	Officer	$305,210	$24,255	$329,465
N/A	CHIEF INFORMATION OFFICER	35.0	Officer	$217,946	$48,082	$266,028
N/A	CHIEF COUNSEL & SECRETARY- thru 10/27/22	35.0	Officer	$247,831	$26,373	$274,204
N/A	CHIEF OPERATING OFFICER - thru 06/30/23	35.0	Officer	$249,768	$53,845	$303,613
N/A	CHIEF COUNSEL & SECRETARY - AS OF 11/07/2022	35.0	Officer	$161,023	$33,467	$194,490
N/A	ASSOCIATE GRANTS DIRECTOR - CITY COLLEGE	35.0	Highest	$293,523	$44,741	$338,264
N/A	CUNY SR. UNIVERSITY DEAN FOR ACADEMIC AFFAIRS	35.0	Highest	$232,050	$10,147	$242,197
N/A	CUNY PROJECT DIRECTOR	35.0	Highest	$270,998	$27,100	$298,098
N/A	RF PROJECT DIRECTOR	35.0	Highest	$260,781	$34,196	$294,977
N/A	Senior Director of HR	35.0	Highest	$296,386	$13,341	$309,727
N/A	FORMER CHIEF FINANCIAL OFFICER / INTERIM PRESIDENT (thru 12/31/2021)	0.0		$142,425	$14,243	$156,668

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$600,333,510	$592,838,098	$580,593,127	$7,495,412
2022	$518,290,887	$514,798,703	$512,515,904	$3,492,184
2021	$501,643,850	$498,715,234	$439,317,076	$2,928,616
2020	$547,502,335	$543,321,202	$422,222,226	$4,181,133
2019	$560,096,585	$551,354,612	$415,139,478	$8,741,973

Research Foundation of the City University of New York