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EVENTS SUPPORT 187709 FERN MALLIS LLC 40 EAST 68TH STREET NEW YORK NY 10065 FUNDRAISING SERVICES 125114 GAINOR TEMPORARIES INC 489 FIFTH AVENUE NEW YORK NY 10017 TEMP AGENCY 105222 4 84200 1425538 2303535 3813273 0 1499678 1499678 0 0 0 0 0 19162204 16738670 2423534 2423534 2423534 235885 1425538 453576 -217691 -217691 0 0 0 0 0 0 0 7518794 0 3705521 1034256 1034256 1677533 1677533 0 0 54672 54672 0 874228 874228 102698 102698 219205 219205 68979 68979 0 23339 23314 25 49800 49800 0 142226 142226 90090 90090 469755 326174 125238 18343 8103 1000 7103 115479 102023 2130 11326 0 0 1700 1700 155779 150933 4846 0 234558 123360 855 110343 0 0 0 0 ENDOWMENT ASSESSMENT EXPENSE 59300 59300 BAD DEBT EXPENSE 17500 17500 EXHIBITIONS 7978 7978 DUES & SUBSCRIPTIONS 5324 5324 5000 5000 5417502 3506757 1623636 287109 X 0 0 11724936 9801276 0 0 2387786 1797560 0 0 0 0 0 0 0 0 15488 16867 0 0 31128926 33243124 8840891 8303930 0 0 0 0 523143 533637 54621170 53696394 2916740 1048951 0 0 355000 285040 0 0 0 0 0 0 0 0 0 0 197272 298580 3469012 1632571 X 3250866 3148084 17826429 18790324 30074863 30125415 51152158 52063823 54621170 53696394 X 2101292 -1276130 86503 X false true X true false X 4804444 3868967 3687348 3681318 3813273 19855350 0 0 4804444 3868967 3687348 3681318 3813273 19855350 1632431 18222919 644939 1279611 1264792 1638474 1499678 6327494 938949 865811 834987 1271090 0 3910837 0 30093681 0 0.60554 0.69215 X 37748515 69914 2318093 1168414 59300 38908808 34219193 793146 4051549 1243573 71800 37748515 35895426 661325 -888747 1375411 73400 34219193 35199606 1259720 900068 1391068 72900 35895426 31095044 1009482 4158811 1002810 60921 35199606 0.01460 0.77190 0.21350 false false 2035835 F REAL ASSETS 1008206 F HEDGE FUNDS- DOMESTIC 652902 F HEDGE FUNDS- INT'L 4606987 F 8303930 0 DUE TO AFFILIATE (FIT) 298580 298580 X 6882389 -1276130 643312 86503 -546315 7428704 90090 90090 7518794 5970724 643312 643312 5327412 90090 90090 5417502 SCHEDULE D, PART V, LINE 4 INTENDED USES OF ENDOWMENT FUNDS ENDOWED FUNDS ARE INTENDED TO PROVIDE SCHOLARSHIPS, AWARDS, AND PROGRAM ENRICHMENT FOR THE BENEFIT OF THE STUDENTS OF THE FASHION INSTITUTE OF TECHNOLOGY. SCHEDULE D, PART X, LINE 2 FIN 48 (ASC 740) FOOTNOTE THE FOUNDATION IS GENERALLY EXEMPT FROM FEDERAL INCOME TAX SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE). THE FOUNDATION RECOGNIZES THE EFFECTS OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE FOUNDATION'S EXEMPT PURPOSE IS SUBJECT TO TAX UNDER SECTION 511 OF THE CODE. THE FOUNDATION DID NOT HAVE ANY MATERIAL UNRELATED BUSINESS INCOME TAX LIABILITY FOR THE YEARS ENDED JUNE 30, 2018 AND 2017. SCHEDULE D, PART XI, LINE 2D OTHER ADJUSTMENTS POST RETIREMENT RELATED CHANGES OTHER THAN NET PERIODIC COSTS 76,009 CHANGE IN VALUE OF CHARITABLE REMAINDER TRUSTS 10,494 --------- TOTAL ADJUSTMENTS 86,503 Central America and the Caribbean Investments 6216422 6216422 6216422 true false true true true false SCHEDULE F, PART I, LINE 3, COLUMN F THE INVESTMENTS ARE REPORTED AT NET ASSET VALUE. true FERN MALLIS LLC FUNDRAISING false 0 125114 -125114 VICKI TEMPLETON CONSULT FUNDRAISING false 0 14001 -14001 0 139115 -139115 NY GALA 1459573 1271413 188160 222982 181208 GOLF CLASSIC 201850 154125 47725 43454 5932 0 1661423 1425538 235885 266436 187140 453576 -217691 SCHEDULE G, PART I FERN MALLIS LLC 40 EAST 68TH STREET, SUITE 5B, NEW YORK, NY 10065 FERN MALLIS LLC WAS HIRED FOR A ONE YEAR TERM TO CONSULT ON FUNDRAISING ACTIVITIES. THE FEE IS $125,000 FOR A TWELVE MONTH TERM PLUS EXPENSES. VICKI TEMPLETON CONSULTING 58 RIVERSIDE DRIVE, NORWOOD, NY 13668 VICKI TEMPLETON CONSULTING WAS HIRED TO CONDUCT AN INTERNAL READINESS ASSESSMENT FOR FUNDRAISING. THE CONTRACT IS BASED ON A PER DIEM RATE PLUS OUT OF POCKET EXPENSES INCLUDING TELEPHONE CHARGES, COPYING, PRINTING, POSTAGE AND TRAVEL. SCHEDULE G, PART I, LINE 2, COLUMN (IV) FASHION INSTITUTE OF TECHNOLOGY FOUNDATION ("FIT FOUNDATION") UTILIZED THE SERVICES OF TWO PROFESSIONAL FUNDRAISING ADVISORS TO CONSULT ON FUNDRAISING ACTIVITIES AND TO ASSESS THE INTERNAL READINESS FOR FUNDRAISING. DUE TO THE NATURE OF THESE ARRANGEMENTS, FIT FOUNDATION IS UNABLE TO REASONABLY DETERMINE THE GROSS RECEIPTS FROM THE FUNDRAISING ACTIVITIES WHICH ARE SOLELY ATTRIBUTABLE TO EACH ADVISOR. true FASHION INSTITUTE OF TECHNOLOGY 227 WEST 27TH STREET NEW YORK NY 10001 132556338 NEW YORK STATE 854401 DEPARTMENTAL SUPPORT THISTLE & SPIRE 174 BOGART ST STE 305 BROOKLYN NY 11206 811697875 75000 DESIGN ENTREPRENEUR GRANT CHARM & STRANGE 64 WEST 89TH ST APT 4F NEW YORK NY 10024 812288254 75000 DESIGN ENTREPRENEUR GRANT FASHION INSTITUTE OF TECHNOLOGY 227 WEST 27TH STREET NEW YORK NY 10001 132556338 NEW YORK STATE 15000 FIT CAPITAL PROJECTS FIT ALUMNI ASSOCIATION 227 WEST 27TH ST NEW YORK NY 10001 133413410 501(C)(3) 10000 GRANT TO ALUMNI ASSOCIATION 2 2 SCHOLARSHIPS AND AWARDS FOR STUDENTS OF F.I.T. 680 1677533 SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS GRANTS TO OTHER ORGANIZATIONS ARE MONITORED BY A FINANCIAL REPRESENTATIVE OF THE FOUNDATION TO ENSURE THEY ARE USED FOR THEIR INTENDED PURPOSES. GRANTS TO INDIVIDUALS, BASED ON BOTH NEED AND MERIT, ARE APPROVED BY THE FINANCE COMMITTEE, AND SCHOLARSHIP PAYMENTS ARE APPLIED DIRECTLY TO STUDENT ACCOUNTS AT FASHION INSTITUTE OF TECHNOLOGY. X X X X false false false false false false false false false VICTORIA GURANOWSKI DIRECTOR, SPECIAL EVENTS 149468 21696 0 26745 0 197909 0 0 0 FORM 990, PART VII, SECTION A, LINE 5 COMPENSATION FROM UNRELATED ORGANIZATION THE FASHION INSTITUTE OF TECHNOLOGY, AN UNRELATED ORGANIZATION, PAID THE FOLLOWING INDIVIDUAL FOR THEIR SERVICES TO THE FASHION INSTITUTE OF TECHNOLOGY FOUNDATION. FERN MALLIS LLC BOARD MEMBER 125114 FUNDRAISING SERVICES false FORM 990, PART VI, SECTION B, LINE 11B: THE RETURN WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY THE ORGANIZATION AND IN CONSULTATION WITH THE ORGANIZATION'S STAFF. THE DRAFT PREPARED BY THE ACCOUNTING FIRM WAS THEN CAREFULLY REVIEWED BY OFFICERS OF THE ORGANIZATION. A COMPLETE COPY OF THE FINAL VERSION OF FORM 990 WAS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. QUESTIONS WERE REFERRED TO THE CHIEF FINANCIAL OFFICER FOR RESPONSE. FORM 990, PART VI, SECTION B, LINE 12C: ON AN ANNUAL BASIS, TRUSTEES REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN A DISCLOSURE STATEMENT. THE CONFLICT OF INTEREST POLICY AND DISCLOSURES ARE MONITORED BY THE EXECUTIVE DIRECTOR OF THE ORGANIZATION WITH ASSISTANCE FROM FIT's CONTROLLER. APPROPRIATE ACTION IS TAKEN BASED ON THE NATURE OF THE CONFLICT, IF ANY ARE IDENTIFIED. FORM 990, PART VI, SECTION B, LINE 15A: THE EXECUTIVE COMMITTEE COMPRISED OF INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS, RELYING ON FINDINGS OF AN OUTSIDE COMPENSATION CONSULTANT AND UTILIZING COMPARABILITY DATA, VOTED UNANIMOUSLY TO FOLLOW THE CONSULTANT'S RECOMMENDATION IN ESTABLISHING THE CHIEF EXECUTIVE OFFICER'S SALARY. LATER, INDEPENDENT MEMBERS OF THE FULL BOARD OF DIRECTORS APPROVED THE COMMITTEE'S RECOMMENDATION REGARDING THE CHIEF EXECUTIVE OFFICER'S SALARY ADJUSTMENT. THE CONSULTANT'S FINDINGS AND THE BOARD'S AND THE COMMITTEE'S ACTIONS WERE CONTEMPORANEOUSLY DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION'S DOCUMENTS INCLUDING ITS APPLICATION FOR TAX EXEMPT STATUS, FORM 990, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS NET CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION 76,009 CHANGE IN VALUE OF CHARITABLE REMAINDER TRUSTS 10,494 --------- TOTAL OTHER CHANGES 86,503