EMPIRE STATE UNIVERSITY FOUNDATION INC (EIN 510193595) - Form 990 Financial Analysis & Trantor Score

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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

1974

Legal Domicile

Principal Officer

VERONICA FITZGERALD

Phone

5185872100

Tax Period

2023-07-01 to 2024-06-30

EMPIRE STATE UNIVERSITY FOUNDATION INC, founded in 1974, is a small nonprofit in the Education sector that reported $620K in total revenue in fiscal year 2023. Revenue fell 84% from the prior year — a significant decline worth monitoring. Expenses of $1.8M exceeded revenue, resulting in a 192% operating deficit.

Mission

TO ASSIST IN ADVANCING THE WELFARE AND DEVELOPMENT OF EMPIRE STATE UNIVERSITY (A UNIT OF THE STATE UNIVERSITY OF NEW YORK), INCLUDING FINANCIAL ASSISTANCE TO STUDENTS, FACULTY, STAFF AND UNIVERSITY PROGRAMS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $916,479

Program Service Revenue $0

Investment Income $-342,503

Other Revenue $46,335

TOTAL REVENUE $620,311

Expense Breakdown

Grants Paid $879,215

Salaries & Benefits $0

Fundraising Expenses $148,344

Program Expenses $1,391,260

Other Expenses $931,855

TOTAL EXPENSES $1,811,070

Year-over-Year Comparison

	2023	2022	Change
Revenue	$620,311	$3,974,032	-0.8%
Expenses	$1,811,070	$1,346,937	+0.3%
Net Income	$-1,190,759	$2,627,095	-1.5%

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

N/A

Volunteers

N/A

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

$726,222

Total Directors

$1,267,924

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LISA VOLLENDORF PHD	ESU PRESIDENT	1.00	Director	$0	$192,465	$541,702
JULIETA MAJAK	TREASURER (NON VOTING)	5.00	Officer Director	$0	$109,709	$308,782
MARLY NORRIS	EXECUTIVE DIRECTOR (NON-VOTING)	5.00	Officer Director	$0	$90,482	$254,667
VERONICA FITZGERALD	INTERIM EXEC DIRECTOR (NON-VOTING)	5.00	Officer Director	$0	$0	$0
MARIAN CONWAY	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
ALTHEA LEUHRSEN	BOARD VICE CHAIR	1.00	Officer Director	$0	$0	$0
DAVID FULLARD PHD	SECRETARY	1.00	Officer Director	$0	$57,833	$162,773
PHILLIP CATCHINGS	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN DAKE	DIRECTOR	1.00	Director	$0	$0	$0
DORA CERVANTES	DIRECTOR	1.00	Director	$0	$0	$0
TINA EVANS PHD	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER FEELEY	DIRECTOR	1.00	Director	$0	$0	$0
JOHN CORROU	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
DAVID MAZZETTI	DIRECTOR	1.00	Director	$0	$0	$0
JAMES KARCHER	DIRECTOR	1.00	Director	$0	$0	$0
RODNEY POPE	DIRECTOR	1.00	Director	$0	$0	$0
DAVID THEOBALD	DIRECTOR	1.00	Director	$0	$0	$0
ANN TURNER	DIRECTOR	1.00	Director	$0	$0	$0
AMY VAILLANCOURT	DIRECTOR	1.00	Director	$0	$0	$0

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	$620,311	$1,811,070	$44,852,550	$-1,190,759
2023	$3,974,032	$1,346,937	$42,557,146	$2,627,095
2022	$2,215,775	$1,215,930	$37,289,291	$999,845
2021	$3,045,939	$1,268,618	$43,485,168	$1,777,321
2020	$3,529,950	$1,358,667	$35,529,945	$2,171,283
2019	$2,196,869	$1,534,442	$36,863,197	$662,427
2018	$1,818,944	$1,360,479	$35,534,001	$458,465

EMPIRE STATE UNIVERSITY FOUNDATION INC