2025-04-25T12:52:04-05:00 2024-06-30 135565207 KPMG LLP 515 BROADWAY 4TH FLOOR ALBANY NY 122072974 990 2023-07-01 271459023 FORT SCHUYLER MANAGEMENT CORPORATION FORT 5189567322 257 FULLER ROAD ALBANY NY 12203 TIMOTHY TAYLOR CFO 5189567322 2025-04-25 1 0 MARILYN E FARLEY P01231880 5184274600 2025-04-25 2023 2025-03-06 01:10:19Z DAVID ANDERSON 257 FULLER ROAD ALBANY NY 12203 9850661 0 X FTSMC.ORG X 2009 NY FORT SCHUYLER MANAGEMENT CORPORATION WAS FORMED AND SHALL BE OPERATED EXCLUSIVELY FOR SCIENTIFIC, EDUCATIONAL, ECONOMIC DEVELOPMENT, AND CHARITABLE PURPOSES. IT ACHIEVES THIS OBJECTIVE BY FACILITATING RESEARCH AND ECONOMIC DEVELOPMENT ACTIVITIES RELATED TO THE RESEARCH AND EDUCATION MISSION OF SUNY BY PURCHASING, CONSTRUCTING, DEVELOPING AND MANAGING FACILITIES AND PROMOTING RESEARCH THEREIN WHICH SUPPORT THE ECONOMIC DEVELOPMENT, RESEARCH ACTIVITIES AND THE MISSION OF THE SUNY POLYTECHNIC INSTITUTE. 6 5 0 9 -949 0 8956194 5185141 0 0 350667 -695993 2049676 -3092263 11356537 1396885 0 0 0 0 0 0 0 0 0 3903738 7392023 3903738 7392023 7452799 -5995138 111862852 101330907 75776505 71238749 36086347 30092158 X FORT SCHUYLER MANAGEMENT CORPORATION WAS FORMED AND SHALL BE OPERATED EXCLUSIVELY FOR SCIENTIFIC, EDUCATIONAL, ECONOMIC DEVELOPMENT, AND CHARITABLE PURPOSES. IT ACHIEVES THIS OBJECTIVE BY FACILITATING RESEARCH AND ECONOMIC DEVELOPMENT ACTIVITIES RELATED TO THE RESEARCH AND EDUCATION MISSION OF SUNY BY PURCHASING, CONSTRUCTING, DEVELOPING AND MANAGING FACILITIES AND PROMOTING RESEARCH THEREIN WHICH SUPPORT THE ECONOMIC DEVELOPMENT, RESEARCH ACTIVITIES AND THE MISSION OF THE SUNY POLYTECHNIC INSTITUTE. 0 0 6063671 0 -3898432 PROGRAM COSTS ARE INCURRED AS PART OF THE OVERALL MISSION OF THE CORPORATION AS A STATE UNIVERSITY OF NEW YORK AFFILIATE, ADVANCING THE ECONOMIC DEVELOPMENT AND EDUCATION AND WORKFORCE TRAINING OF THE STATE OF NEW YORK. 6063671 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 7 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 0 1 1 1 0 NY X TIMOTHY TAYLOR 5189567417 257 FULLER ROAD ALBANY NY 12203 ANITA BROWN DIRECTOR, THRU 12/19/23 0.50 1.00 X 0 0 0 CHRISTINE CHUNG DIRECTOR, THRU 2/9/24 0.50 1.00 X 0 0 0 DOREEN HARRIS DIRECTOR, THRU 4/19/24 0.50 1.00 X 0 0 0 JOAN MCDONALD DIRECTOR 0.50 1.00 X 0 0 0 KENNETH TOMPKINS DIRECTOR, THRU 10/20/23 0.50 1.00 X 0 0 0 KRISTIN PROUD DIRECTOR 0.50 1.00 X 0 0 0 MENG-LING HSIAO DIRECTOR 0.50 1.00 X 0 0 0 MICHAEL ABBOTT DIRECTOR 0.50 1.00 X 0 0 0 DOUG GROSE CHAIR AS OF 5/1/24/ PAST PRES 0.50 1.00 X 0 234232 0 HEATHER HAGE DIRECTOR 0.50 1.00 X 0 0 0 PATRICIA ARCIERO-CRAIG CAO, ACTING GEN COUNS, THRU 4/18/24 15.00 17.00 X 267440 0 57515 PATRICIA BUCKLIN SECRETARY 19.00 21.00 X 176417 0 18127 PAUL KELLY VP STRATEGY, PSHIPS & NV, & COO 3.00 5.00 X 259630 0 57041 SCOTT BATEMAN TREASURER 0.50 1.00 X 0 0 0 TIMOTHY TAYLOR VP CORPORATE FINANCE & CFO 9.00 16.00 X 215144 0 118716 REBECCA BORDEN ACTING GEN COUNS, AS OF 4/19/24 15.00 17.00 X 36686 0 2119 DAVID ANDERSON PRESIDENT 9.00 11.00 X 413310 0 35779 WILLIAM BRONNER VP OF HUMAN RESOURCES 9.00 16.00 X 162304 0 39361 THOMAS ALFIERI ASSOCIATE VICE PRESIDENT 40.00 0.00 X 219420 0 41047 1750351 234232 369705 7 0 1 1 HINMAN STRAUB PC STATE STREET ALBANY NY 12207 LEGAL 173562 HARRIS BEACH PLLC 677 BROADWAY SUITE 1101 ALBANY NY 12207 LEGAL 145178 3 5185141 5185141 111125 111125 88940 7646657 -7557717 -7557717 -7557717 1 807119 -807118 -807118 -807118 PAYMENT FROM NY CREATES 900099 4466403 4466403 LOSS FROM PARTNERSHIP 525990 -949 -949 4465454 1396885 -3898432 -949 111125 X 250447 63473 186974 61050 61050 1060017 255029 804988 4866 4866 28892 28892 801609 560027 241582 ECONOMIC DEVELOPMENT CO 5185142 5185142 7392023 6063671 1328352 0 3119360 3142895 0 0 0 0 2751191 137798 0 0 0 0 0 0 0 0 0 0 31983183 10882826 22866674 21100357 0 0 0 0 0 0 0 0 83125627 76949857 111862852 101330907 3403347 5308358 0 0 54822056 49457263 0 0 0 0 0 0 0 0 0 17551102 16473128 75776505 71238749 X 36086347 30092158 0 0 36086347 30092158 111862852 101330907 X -5995138 949 X 0 1 X 1 0 X 36772096 21205740 13592325 8956194 5185141 85711496 6004679 7100630 5858320 5529915 88940 24582484 42776775 28306370 19450645 14486109 5274081 110293980 0 0 0 110293980 26667 111125 137792 26667 111125 137792 3071840 3329283 4569180 4466403 15436706 42776775 31378210 22779928 19081956 9851609 125868478 0.87630 0.94770 0.00110 0.00010 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: INCOME FROM PARTNERSHIP - 2021 AMOUNT: $ 92,877. OTHER - 2020 AMOUNT: $ 1,521,840. 2021 AMOUNT: $ 208,026. PAYMENT FROM NY CREATES - 2020 AMOUNT: $ 1,550,000. 2021 AMOUNT: $ 3,028,380. 2022 AMOUNT: $ 4,569,180. 2023 AMOUNT: $ 4,466,403. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6273866 6273866 22408692 7582201 14826491 3300625 3300625 0 21100357 ASSETS LIMITED TO USE 61637448 RIGHT-OF-USE-ASSETS - OPERATING LEASE 15115334 RESEARCH FOUNDATION FOR THE SUNY 197075 76949857 LEASE LIABILITY - OPERATING LEASE 16473128 16473128 X PART X, LINE 2: FASB ASC 740 FOOTNOTE: THE CORPORATION APPLIES THE PROVISIONS OF ASC 740-10, ACCOUNTING FOR UNCERTAINTY OF INCOME TAXES, WHICH ADDRESSES ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN AN ENTITY'S CONSOLIDATED FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF MORE-LIKELY THAN-NOT FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. ASC 740-10 ALSO PROVIDES GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURES OF TAX UNCERTAINTIES. MANAGEMENT HAS EVALUATED ASC 740-10 AND CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT IMPACT THE CORPORATION'S FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2024 AND 2023. X 0 0 0 0 0 0 0 0 0 DAVID ANDERSON PRESIDENT 413310 0 0 0 0 0 13716 0 22063 0 449089 0 0 0 TIMOTHY TAYLOR VP CORPORATE FINANCE & CFO 215144 0 0 0 0 0 43222 0 75494 0 333860 0 0 0 PATRICIA ARCIERO-CRAIG CAO, ACTING GEN COUNS, THRU 4/18/24 267440 0 0 0 0 0 22559 0 34956 0 324955 0 0 0 PAUL KELLY VP STRATEGY, PSHIPS & NV, & COO 259630 0 0 0 0 0 31641 0 25400 0 316671 0 0 0 THOMAS ALFIERI ASSOCIATE VICE PRESIDENT 219420 0 0 0 0 0 15891 0 25156 0 260467 0 0 0 DOUG GROSE CHAIR AS OF 5/1/24/ PAST PRES 0 234232 0 0 0 0 0 0 0 0 0 234232 0 0 WILLIAM BRONNER VP OF HUMAN RESOURCES 162304 0 0 0 0 0 17298 0 22063 0 201665 0 0 0 PATRICIA BUCKLIN SECRETARY 176417 0 0 0 0 0 17646 0 481 0 194544 0 0 0 PART II - COMPENSATION FROM UNRELATED ORGANIZATIONS COMPENSATION FOR TIMOTHY TAYLOR WAS PAID BY THE STATE UNIVERSITY OF NEW YORK, AN UNRELATED ENTITY. COMPENSATION FOR DOUG GROSE WAS PAID BY NY CREATES AS AN INDEPENDENT CONTRACTOR. DOUG GROSE' COMPENSATION REPORTED WAS FOR CALENDAR YEAR 2023 PRIOR TO HIM BECOMING CHAIRMAN OF THE BOARD IN MAY 2024. COMPENSATION FOR THE OTHER PEOPLE LISTED WAS PAID BY THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK, ANOTHER UNRELATED ENTITY, AND WAS WHOLLY OR PARTIALLY REIMBURSED BY THE CORPORATION. THE COMPENSATION REPORTED ON SCHEDULE J PART II IS THE FULL COMPENSATION PAID TO EACH INDIVIDUAL. THE HOURS LISTED ON PART VII AS BEING DEVOTED TO THE ORGANIZATION AND RELATED ORGANIZATIONS, MAY BE LESS THAN 40 HOURS, AS ONLY A PORTION OF THEIR TIME WAS SPENT WORKING FOR THE REPORTING ORGANIZATION AND ITS RELATED ORGANIZATIONS, AS REPORTED ON SCHEDULE R. FORM 990, PART I, LINE 5 & PART V, LINE 2A - NUMBER OF EMPLOYEES COMPENSATION FOR DOUG GROSE WAS PAID BY NY CREATES, A RELATED ENTITY, AS AN INDEPENDENT CONTRACTOR. DOUG GROSE' COMPENSATION REPORTED WAS FOR CALENDAR YEAR 2023 PRIOR TO HIM BECOMING CHAIRMAN OF THE BOARD IN MAY 2024. THE REMAINING TWELVE INDIVIDUALS INCLUDED IN FORM 990 PART VII LINE 1A WERE PAID BY UNRELATED ORGANIZATIONS AND PARTIALLY REIMBURSED BY THE CORPORATION OR A GRANT. THEREFORE NO EMPLOYEES ARE REPORTED ON FORM 990 PART I, LINE 5 OR PART V, LINE 2A. FORM 990, PART VI, SECTION A, LINE 6 NEW YORK CENTER FOR RESEARCH, ECONOMIC ADVANCEMENT TECHNOLOGY, ENGINEERING AND SCIENCE CORPORATION (NY CREATES) IS THE SOLE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EACH DIRECTOR OF THE CORPORATION'S MEMBER, NY CREATES, INCLUDING ALL EX-OFFICIO NON-VOTING ADVISORY REPRESENTATIVES, IS DEEMED A DIRECTOR OR ADVISORY REPRESENTATIVE OF THE CORPORATION BY VIRTUE OF BEING A DIRECTOR OR ADVISORY REPRESENTATIVE OF THE MEMBER. THE MEMBER HAS NO POWER TO CONTROL THE BOARD'S ACTIONS. FORM 990, PART VI, SECTION A, LINE 7B A DIRECTOR SHALL BE AUTOMATICALLY REMOVED FROM THE BOARD OF DIRECTORS SIMULTANEOUS WITH THE DIRECTOR'S REMOVAL FROM THE BOARD OF DIRECTORS OF THE MEMBER. THE BY-LAWS AND THE CERTIFICATE OF INCORPORATION MAY BE ADDED TO, AMENDED, REPEALED OR REPLACED ONLY BY THE AGREEMENT OF THE CORPORATION'S MEMBER. IN ADDITION, THE FOLLOWING ITEMS MUST BE APPROVED FIRST BY A MAJORITY VOTE OF THE CORPORATION'S BOARD OF DIRECTORS AND THEN SUBMITTED TO THE MEMBER FOR APPROVAL: (I) AMENDMENT TO THE CORPORATION'S CERTIFICATE OF INCORPORATION; (II) APPROVAL OF A PLAN OF MERGER OR CONSOLIDATION OF THE CORPORATION; (III) APPROVAL OF A PLAN OF DISSOLUTION OF THE CORPORATION; (IV) APPROVAL OF A RECOMMENDATION FOR THE SALE OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE CURRENTLY NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE CORPORATION'S FORM 990 IS PREPARED INTERNALLY UNDER THE REVIEW OF THE PRESIDENT, TREASURER, AND CFO. IT IS REVIEWED BY THE CORPORATION'S EXTERNAL AUDITORS. THE COMPLETED FORM IS DISTRIBUTED TO THE AUDIT COMMITTEE AND REVIEWED WITH MANAGEMENT AND THE EXTERNAL AUDITOR. AFTER THE AUDIT COMMITTEE REVIEW, THE FINAL FORM 990 (INCLUDING ALL REQUIRED SCHEDULES) AS ULTIMATELY FILED WITH THE IRS, IS DISTRIBUTED TO EACH PERSON WHO IS A VOTING MEMBER OF THE BOARD OF DIRECTORS AND IS APPROVED BY THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C UNDER THE CONFLICT OF INTEREST AND RELATED PARTY TRANSACTION POLICY, THE DIRECTORS, OFFICERS AND KEY EMPLOYEES MUST DISCLOSE IN GOOD FAITH AND IN WRITING ALL MATERIAL FACTS RELATED TO CONFLICTS OF INTEREST TO THE GENERAL COUNSEL AND/OR THE ETHICS OFFICER, WHO WILL ADVISE HOW TO PROCEED. THE DISCLOSURE MUST BE MADE PART OF THE CORPORATION'S OFFICIAL RECORDS, INCLUDING IN THE MINUTES OF ANY MEETING AT WHICH THE CONFLICT ISSUE IS DISCUSSED OR NOTED ON. THE POLICY ALSO CONTAINS PROVISIONS FOR RECUSAL AND ABSTENTION. QUESTIONNAIRES ARE SUBMITTED ANNUALLY TO DIRECTORS, OFFICERS AND KEY EMPLOYEES TO DETERMINE WHETHER ANY CONFLICTS OF INTEREST OR RELATED PARTY TRANSACTIONS EXIST. FORM 990, PART VI, SECTION B, LINE 15 FOR SUCH INDIVIDUALS WHOSE COMPENSATION WAS PARTIALLY REIMBURSED BY THE CORPORATION, THE AUDIT COMMITTEE, WHICH IS COMPOSED OF INDEPENDENT MEMBERS, CONSIDERED COMPARABLE SALARY INFORMATION AND DOCUMENTED ITS DECISION CONTEMPORANEOUSLY. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE POSTED ON THE CORPORATION'S WEBSITE AND ARE AVAILABLE TO THE PUBLIC, UPON REQUEST, AT THE CORPORATION'S BUSINESS OFFICE. FORM 990, PART VI, LINE 14 - DOCUMENT RETENTION AND DESTRUCTION POLICY THE CORPORATION DID NOT HAVE A FORMAL DOCUMENT RETENTION AND DESTRUCTION POLICY AS OF THE END OF THE TAX YEAR (6/30/24). THE CORPORATION WAS FORMED IN 2009 AND HAS RETAINED ITS RECORDS. IT IS CONSIDERING THE ADOPTION OF A FORMAL POLICY AT THIS TIME. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 255,029. MANAGEMENT AND GENERAL EXPENSES 804,988. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,060,017. FORM 990, PART XI, LINE 9: LOSS FROM PARTNERSHIP INVESTMENT 949. QUAD C PHASE I LLC 100 SEYMOUR ROAD UTICA NY 13502 300831216 SUPP OF PROJ NY 0 0 FORT SCHUYLER MANAGEMENT CORPORATION FULLER ROAD MANAGEMENT CORPORATION 257 FULLER ROAD ALBANY NY 12207 141772760 RE HOLDING NY 501(C)(25) NY CREATES 0 NY CREATES 257 FULLER ROAD ALBANY NY 12207 844046818 SCIENTIFIC RESEARCH, EDUCATION, ECONOMIC DEVELOPMENT NY 501(C)(3) LINE 10 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1