2016-02-11T15:51:05-06:00 2015-06-30 GRANT THORNTON LLP 757 THIRD AVE 4TH FLOOR NEW YORK NY 100172013 990 2014-07-01 116080521 QUEENS COLLEGE FOUNDATION INC % MAUREEN GIANNOTTI QUEE 7189975408 65-30 KISSENA BOULEVARD FLUSHING NY 11367 Laurie F Dorf executive director 2125429747 2016-02-11 true Scott Thompsett P00741490 2125990100 2014 2016-04-25 22:37:26Z LAURIE DORF 65-30 Kissena Blvd Flushing NY 11367 30105184 false X http://qcpages.qc.cuny.edu/QCF X 1980 NY The Foundation's primary purpose is to solicit, manage and administer contributions made by private donors to the college. 26 25 0 24 0 8461088 6898849 0 0 1749304 5987997 -120905 -105805 10089487 12781041 2905372 2448726 0 0 2209967 2137239 52000 52000 83307 2744800 2978461 7912139 7616426 2177348 5164615 58570357 60129159 585686 1476484 57984671 58652675 X THE FOUNDATION'S PRIMARY PURPOSE IS TO SOLICIT, MANAGE, AND ADMINISTER CONTRIBUTIONS MADE BY PRIVATE DONORS TO THE COLLEGE. AS AN INTEGRAL PART OF ITS MISSION OF MAINTAINING AND STRENGTHENING THE ACADEMIC EXCELLENCE OF THE COLLEGE, THE FOUNDATION ADMINISTERS FUNDS, THE PROCEEDS OF WHICH ARE USED TO SUPPORT THE COLLEGE'S SERVICES AND ACTIVITIES NOT FULLY FUNDED BY STATE AND CITY TAX LEVIES, AS WELL AS EDUCATIONAL NEEDS SUCH AS SCHOLARSHIPS, SPECIAL ACADEMIC PROGRAMS AND OTHER ACTIVITIES. THE FOUNDATION ALSO MANAGES RESTRICTED TRUSTS AND ENDOWED GIFT ACCOUNTS AND ALLOCATES SUCH INCOME AS PRESCRIBED BY THE RESPECTIVE DONORS. false false 6860486 2448726 The Queens College Foundation was founded in 1980 for the purpose of developing and increasing resources at Queens College to provide more extensive educational opportunities to students and service to faculty. It receives gifts and grants with which it finances research in fields of intellectual inquiry that are in keeping with the College's educational objectives in its constituent schools. It awards and administers scholarships and fellowships, and engages in experimental educational activities and projects. 6860486 true true false false false false false true true true false true false true false true true false false false false false false true true false false true true true false false false false false false false false true true false false false true false false false true 271 0 true 0 false false false false false true true false false false false X 26 25 false false false false false false false true true false false true true true true true true true true false NY X MAUREEN GIANNOTTI 7189975408 65-30 KISSENA BLVD FLUSHING NY 11367 RUSSELL M ARTZT SECRETARY 1.0 0.0 X X 0 0 0 NORMAN BARHAM trustee 1.0 0.0 X 0 0 0 BRUCE BENDELL TRUSTEE 1.0 0.0 X 0 0 0 Amelia F Bernstein trustee emeritus (non-voting) 1.0 0.0 X 0 0 0 Barry A Bryer Vice chairman 1.0 0.0 X X 0 0 0 JANE CHWICK TRUSTEE 1.0 0.0 X 0 0 0 JERRY M COHEN TRUSTEE 1.0 0.0 X 0 0 0 EDWIN M COOPERMAN TRUSTEE EMERITUS (non-voting) 1.0 0.0 X 0 0 0 Lee Fensterstock TRUSTEE 1.0 0.0 X 0 0 0 STEVEN L GERARD TRUSTEE 1.0 0.0 X 0 0 0 CAROL J HOCHMAN chairman (thru 06/30/15) 1.0 0.0 X X 0 0 0 Katherine Hu TRUSTEE 1.0 0.0 X 0 0 0 SUSAN ISAACS trustee emeritus (non-voting) 1.0 0.0 X 0 0 0 Freda S Johnson trustee 1.0 0.0 X 0 0 0 Saul Kupferberg Trustee 1.0 0.0 X 0 0 0 IRA B LAMPERT TRUSTEE 1.0 0.0 X 0 0 0 ALLAN Z LOREN TRUSTEE 1.0 0.0 X 0 0 0 GAIL A MARQUIS TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL MINIKES TRUSTEE EMERITUS (NON VOTING) 1.0 0.0 X 0 0 0 James A Mitarotonda Trustee 1.0 0.0 X 0 0 0 DINA N PERRY TRUSTEE 1.0 0.0 X 0 0 0 Maurice Reznik Trustee 1.0 0.0 X 0 0 0 MARK E ROSE TRUSTEE 1.0 0.0 X 0 0 0 LAWRENCE ROSENFELD TRUSTEE (through 9/14) 1.0 0.0 X 0 0 0 Howard Sipzner TREASURER 1.0 0.0 X X 0 0 0 STEPHANIE STIEFEL TRUSTEE 1.0 0.0 X 0 0 0 CHARLES B WANG TRUSTEE (through 09/14) 1.0 0.0 X 0 0 0 ROBERT WANN TRUSTEE 1.0 0.0 X 0 0 0 Jacqueline Willens TRUSTEE 1.0 0.0 X 0 0 0 RENEE ZARIN TRUSTEE 1.0 0.0 X 0 0 0 Felix Matos Rodriguez President (as of 7/14) 1.0 40.0 X X 0 126268 21289 Chaim Wachsberger Trustee 1.0 0.0 X 0 0 0 Jill barad trustee emeritus (non-voting) 1.0 0.0 X 0 0 0 Jerry Colonna trustee emeritus (non-voting 1.0 0.0 X 0 0 0 Michael Goldstein trustee emeritus (non-voting) 1.0 0.0 X 0 0 0 richard Goldstein trustee emeritus (non-voting) 1.0 0.0 X 0 0 0 joseph grano jr trustee emeritus (non-voting) 1.0 0.0 X 0 0 0 Laurie Dorf Executive Director 1.0 40.0 X 0 181475 42798 Concepcion Romanick Comptroller (thru 10/14) 35.0 0.0 X 122453 0 9239 Evangelos Gizis Interim President (thru 06/14) 1.0 40.0 X 0 206608 35815 122453 514351 109141 1 true true true NA 0 X 695320 298440 5905089 914039 6898849 0 1587052 1587052 0 0 0 0 0 21514347 17113402 4400945 4400945 4400945 94620 695320 210741 -116121 -116121 0 0 OTHER REVENUE 900099 10316 10316 10316 12781041 5882192 500081 500081 1948645 1948645 0 0 0 0 1350227 1090400 259827 0 579126 486315 92811 207886 173552 34334 0 0 72040 72040 0 52000 52000 75000 75000 465415 448324 14281 2810 20252 20252 249890 234474 1541 13875 0 0 0 271846 270112 22 1712 0 560682 560682 0 0 0 21061 12605 8456 HONORARIA 465606 424373 40000 1233 EQUIPMENT RENTAL AND MAINT. 312693 296851 9082 6760 MISCELLANEOUS 463976 393820 65239 4917 7616426 6860486 672633 83307 3425 3275 2172504 1686613 4343479 5669402 93923 0 0 0 0 0 0 0 0 0 16740 83893 0 42734874 42909656 5914704 6269483 0 0 0 0 3290708 3506837 58570357 60129159 472766 753227 0 0 0 0 0 0 112920 723257 0 0 0 0 0 0 0 0 585686 1476484 X 21189167 20418339 15912389 15255143 20883115 22979193 57984671 58652675 58570357 60129159 5164615 -4496611 X false true X true false X 10184562 4299887 6150630 8461088 6898849 35995016 0 0 10184562 4299887 6150630 8461088 6898849 35995016 8980227 27014789 713691 979014 985003 1213589 1587052 5478349 0 275174 123851 90528 89272 104936 683761 42157126 0.64081 0.48765 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 196050 3191325 X X X true false true 26554417 2188078 734618 940816 28536297 22523597 1271916 3541392 782488 26554417 20074862 1230646 2147999 929910 22523597 21359226 872276 -435267 1721373 20074862 16645472 2330891 2739434 356571 21359226 0.80526 0.19474 false false ALTERNATIVE INVESTMENTS 6269483 F 6269483 ARTWORK 3191325 MISCELLANEOUS 315512 3506837 0 0 X 8522787 -4496611 27616 -4468995 12991782 -210741 -210741 12781041 7854783 27616 210741 238357 7616426 7616426 Schedule D, Part III, Line 4 The organization maintains artwork in the Godwin-Ternbach Museum. The Godwin-Ternbach Museum is a professional not-for-profit art institution situated on the Flushing, Queens campus of Queens College, the City University of New York. A comprehensive permanent collection of 3,500 objects from all cultures, ranging from the ancient world to the present day, is used to organize exhibitions and programs as cultural and educational vehicles for students, faculty and public audiences alike. Schedule D, Part IV, Line 2 Deposits held in custody for others are comprised of resources held on behalf of the Kupferberg Center for the Arts at Queens College. Schedule D, Part V, Line 4 The Foundation's endowment consists of a portfolio of actively managed funds established to provide both a source of operating funds as well as long-term financial stability. The endowment is composed entirely of donor restricted endowment funds. Endowment funds may have purpose restrictions on use of the income. Schedule D, Part X, Line 2 Income Taxes The Foundation follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can be recognized in the financial statements only if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. Management believes that there are no uncertain tax positions within its financial statements. Additionally, the Foundation has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; determine its filing and tax obligations in jurisdictions for which it has nexus; and to review other matters that may be considered tax positions. The Foundation is exempt from federal income taxation by virtue of being an organization described in Section 501(c)(3) of the Internal Revenue Code. Nevertheless, the Foundation may be subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The tax years ended June 30, 2012, 2013, 2014 and 2015 are still open to audit for both federal and state purposes. However, management believes that there are no uncertain tax positions for which recognition or disclosure is warranted. Schedule D, Part XI, Line 4b Special Events Expenses Reclassed to offset Revenue on Part VIII Line 8(b) ($210,741) Schedule D, Part XIII, Line 2d Reconciliation of Expenses Special Events Expenses Reclassed to offset Revenue on Part VIII Line 8(b) $210,741 X X X X X X X true Wilson-Bennett Technology Phonathon false 111085 52000 59085 111085 52000 59085 AK CA CO FL GA HI IL KS KY ME MD MN MS MO NH NJ NY NC OH OK OR PA RI SC TN UT WA WV WY gala 729130 662410 66720 20319 71955 15644 45796 golf 60810 32910 27900 8360 28855 19812 0 789940 695320 94620 28679 100810 15644 65608 210741 -116121 true Queens College CUNY 65-30 Kissena Blvd Flushing NY 11367 116001344 501(c)(3) 500081 Educational Support 1 SCHOLARSHIPS & AWARDS 1898 1649065 Research/Teaching/Tutoring Stipends 300 299580 Form 990, Schedule I - Grants Process The Foundation provides scholarships to students matriculating at the College. Certain criteria are established that each student is required to meet to retain their scholarship. The Foundation does not need to monitor the use of scholarship funds as those amounts are directly spent to defray the cost of tuition. There is no opportunity for the funds to be directed to another purpose. The Head/Project Directors oversee the grantmaking process for both scholarships and awards and stipends. The Project Directors will review grantee eligibility and determine the selection criteria. Sometimes, grants will have specific donor stipulations attached; the Project Director will ensure that potential grantees meet those stipulations and reinforce that those stipulations are consistent with the Foundation's internal policies. The Foundation maintains detailed records to substantiate all grants issued. Grants to Organizations in the United States The Foundation provides funding to its parent organization, Queens College CUNY. The Foundation's primary exempt purpose is to support the College's educational mission; to that end, the Foundation periodically remits funds back to the College to support educational programs, scholarships and other activities related to its mission. false false false false false false false false false Evangelos Gizis Interim President (thru 06/14) 0 183485 0 0 0 23123 0 0 0 0 0 206608 0 0 Laurie Dorf Executive Director 0 181475 0 0 0 0 0 5519 0 37279 0 224273 0 0 Concepcion Romanick Comptroller (thru 10/14) 122453 0 0 0 0 0 1146 0 8093 0 131692 0 0 0 X 6 196050 Appraisal X 6 717989 fmv false true true Form 990, Schedule M Line 32a The Foundation's investment consultant is tasked with converting non-cash securities into cash for use in fulfillment of the Foundation's charitable mission. Form 990, Part VI,Section B, Line 11 FORM 990 REVIEW PROCESS The Form 990 was prepared by an independent accounting firm in conjunction with the organization's financial department. A copy of the draft Form 990 was circulated to the full Board of Trustees for discussion and comment. Each Board Member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the Internal Revenue Service. Form 990, Part VI, Section B, Line 12 CONFLICT OF INTEREST POLICY ENFORCEMENT AND MONITORING The Foundation operates under the conflict of interest policy of its parent organization, Queens College of CUNY. Each officer, director, trustee and key employee of the College is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the College. The College monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately. Form 990, Part VI,Section B, Lines 13 & 14 WHISTLEBLOWER AND DOCUMENT RETENTION POLICIES The Foundation operates under the whistleblower and document retention policies of its related organization, Queens College of the City University of New York. Form 990, Part VI, Section B, Line 15 PROCESS FOR DETERMINING COMPENSATION The Foundation does not compensate any of the individuals reported in Part VII of the Form 990; all compensation is paid by a related organization, Queens College of the City University of New York. Queens College is a municipal employer and all salaries are governed by contracts negotiated between the State, New York City and Trade and Municipal unions. Form 990, Part VI, Section C, Line 19 PUBLIC DISCLOSURE OF DOCUMENTS The Foundation makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The Foundation's financial statements, governing documents and conflict of interest policy will be available to the public upon request and at management's discretion. Form 990, Part VIII, Line 1 The Queens College Foundation receives contributions from various entities within the Queens College of CUNY universe of related entities. These organizations are not related parties of the Foundation under a strict interpretation of related party as defined in the 990 instructions; however, in the interest of full disclosure, the Foundation is reporting that it received $314,984 in contributions from other CUNY entities. Queens College CUNY 65-30 Kissena Blvd Flushing NY 11367 116001344 Education NY 501(c)(3) 6 na false false true false false false false false false false false true false true true false false false false