QUEENS COLLEGE SPECIAL PROJECTS FU… - 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

1998

Legal Domicile

Principal Officer

FRANK WU

Phone

7189975000

Tax Period

2023-07-01 to 2024-06-30

QUEENS COLLEGE SPECIAL PROJECTS FUNDINC, founded in 1998, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $6.6M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

THE FUND'S PRIMARY EXEMPT PURPOSE IS TO SUPPORT, PROMOTE, AND FOSTER THE EDUCATIONAL MISSION OF ITS PARENT ORGANIZATION, QUEENS COLLEGE OF THE CITY UNIVERSITY OF NEW YORK.

Program Service Accomplishments

Program 1

Expenses: $7,056,412 Revenue: $6,353,159

QUEENS COLLEGE SPECIAL PROJECT FUND'S PRIMARY EXEMPT ACTIVITY IS TO HOLD AND OPERATE A RESIDENCE HALL FOR THE BENEFIT OF THE STUDENT OF THE QUEENS COLLEGE OF THE CITY UNIVERSITY OF NEW YORK. THE...

QUEENS COLLEGE SPECIAL PROJECT FUND'S PRIMARY EXEMPT ACTIVITY IS TO HOLD AND OPERATE A RESIDENCE HALL FOR THE BENEFIT OF THE STUDENT OF THE QUEENS COLLEGE OF THE CITY UNIVERSITY OF NEW YORK. THE RESIDENCE HALL CONSISTS OF A STUDENT HOUSING FACILITY DESIGNED TO HOUSE 506 STUDENTS, AN 89 CAR PARKING GARAGE, AND OTHER AMENITIES. THE FACILITIES HAVE ALSO BEEN USED TO HOLD CONFERENCES THAT SUPPORT THE EDUCATIONAL MISSION OF QUEENS COLLEGE OF THE CITY UNIVERSITY OF NEW YORK.

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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 $19,233

Program Service Revenue $6,272,315

Investment Income $141,236

Other Revenue $205,576

TOTAL REVENUE $6,638,360

Expense Breakdown

Grants Paid $0

Salaries & Benefits $649,655

Fundraising Expenses $0

Program Expenses $7,056,412

Other Expenses $6,646,819

TOTAL EXPENSES $7,296,474

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,638,360	$6,033,000	+0.1%
Expenses	$7,296,474	$7,294,726	+0.0%
Net Income	$-658,114	$-1,261,726	-0.5%

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

N/A

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

$1,349,767

Total Directors

$1,580,471

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK WU	PRESIDENT	1.00	Officer Director	$0	$132,990	$597,668
JENNIFER JARVIS	VICE PRESIDENT	1.00	Officer Director	$0	$56,855	$255,508
JOSEPH LOUGHREN	TREASURER	1.00	Officer Director	$0	$56,312	$253,072
JEFFREY ROSENSTOCK	SECRETARY	1.00	Officer Director	$0	$54,187	$243,519
ZECO KRCIC	DIRECTOR	1.00	Director	$0	$51,335	$230,704

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	$6,638,360	$7,296,474	$48,268,541	$-658,114
2023	$6,033,000	$7,294,726	$50,579,112	$-1,261,726
2022	$7,071,081	$7,555,229	$53,656,603	$-484,148
2021	$9,401,757	$6,808,617	$55,665,535	$2,593,140
2020	$6,439,846	$7,905,583	$55,677,615	$-1,465,737
2019	$7,274,231	$7,543,827	$57,491,173	$-269,596
2018	$7,154,726	$7,230,817	$59,127,378	$-76,091

QUEENS COLLEGE SPECIAL PROJECTS FUNDINC