FASHION INSTITUTE OF TECHOLOGY FOUNDATION: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- FASHION INSTITUTE OF TECHOLOGY FOUNDATION (EIN 13-5675757)
- Tax period
- 2012-07-01 to 2013-06-30
- Filed
- 2014-04-14
- IRS object ID
- 201401059349300200
- Schema version
- 2012v2.3
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2014-04-14T23:11:22-05:00 | Timestamp |
| Tax Period End Date | 2013-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KPMG LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 345 Park Avenue | AddressLine1 |
| City | New York | City |
| State | NY | State |
| ZIP Code | 101540102 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 135675757 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FASHION INSTITUTE OF TECHNOLOGY FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of Name | % JOHN J JOHNSTON | InCareOfName |
| Name Control | FASH | NameControl |
| Phone | 2122177820 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 WEST 27TH STREET | AddressLine1 |
| Address Line2 | Suite | AddressLine2 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10001 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | SHERRY BRABHAM | Name |
| Title | TREASURER | Title |
| Phone | 2122174020 | Phone |
| Date Signed | 2014-03-31 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2127589700 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | DR JOYCE F BROWN | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 WEST 27 STREET | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10001 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 24828065 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.FITNYC.EDU/EFFI | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1944 | YearFormation |
| State Legal Domicile | NY | StateLegalDomicile |
| Activity Or Mission Description | THE ORGANIZATION PROVIDES SCHOLARSHIPS, FUNDRAISING ACTIVITIES, PROGRAM SUPPORT AND SUBSIDIES TO THE FASHION INSTITUTE OF TECHNOLOGY AND ITS COMPONENT UNITS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 22 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 21 | NbrIndependentVotingMembers |
| Total Nbr Employees | 14 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Contributions Grants Prior Year | 7088195 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 7832240 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 0 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 4162572 | InvestmentIncomePriorYear |
| Investment Income Current Year | 1210945 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 731019 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 11250767 | TotalRevenuePriorYear |
| Total Revenue Current Year | 9774204 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 2514996 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 2054188 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 1271307 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 1544039 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 136133 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 1246420 | OtherExpensePriorYear |
| Other Expenses Current Year | 1324021 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 5032723 | TotalExpensesPriorYear |
| Total Expenses Current Year | 4922248 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 6218044 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 4851956 | RevenuesLessExpensesCY |
| Total Assets BOY | 38599378 | TotalAssetsBOY |
| Total Assets EOY | 45713860 | TotalAssetsEOY |
| Total Liabilities BOY | 828605 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1518633 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 37770773 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 44195227 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE CORPORATION PROVIDES SCHOLARSHIPS, FUNDRAISING ACTIVITIES, PROGRAM SUPPORT AND SUBSIDIES TO THE FASHION INSTITUTE OF TECHNOLOGY AND ITS COMPONENT UNITS. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 1722201 | Expense |
| Grants | 750359 | Grants |
| Description | THE FIT FOUNDATION PROVIDES FUND-RAISING ACTIVITIES, PROGRAMS SUPPORT, AND SUBSIDIES TO THE FASHION INSTITUTE OF TECHNOLOGY AND ITS COMPONENT UNITS. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 1303829 | Expense |
| Grants | 1303829 | Grants |
| Description | DURING FY 2013 THE FIT FOUNDATION GRANTED SCHOLARSHIPS AND AWARDS TO 1,757 STUDENTS OF THE FASHION INSTITUTE OF TECHNOLOGY. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 3026030 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | true | TermOrPermanentEndowments |
| Report Land Bldg Equip | false | ReportLandBldgEquip |
| Report Invest Oth Securities | true | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | true | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | true | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | true | GrantsToOrganizations |
| Grants To Individuals | true | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 34 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 14 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | true | QuidProQuoContributions |
| Quid Pro Quo Disclosure | true | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 22 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 21 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | false | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | NY | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | JOHN J JOHNSTON | NamePerson |
| Telephone Number | 2122173602 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 236 WEST 27TH STREET 5TH FL | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10001 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (28 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Average Hours Per Week RelatedAverageHoursPerWeekRelated | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| JAY H BAKER | ||||||||
| CHAIRMAN | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| PAMELA BAXTER | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| WESLEY R CARD | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| EMANUEL CHIRICO | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| JOY HERFEL CRONIN | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| DIANE D'ERASMO | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| ABBEY DONEGAR | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| OSCAR FELDENKREIS | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| MORRIS GOLDFARB | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| JILL GRANOFF | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| JULIE GREINER | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| SAM HADDAD | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| JANE HERTZMARK HUDIS | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| LAURENCE C LEEDS JR | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| KEVIN B MANSELL | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| TOM NASTOS | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| ELIZABETH T PEEK | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| ROBERTO RAMOS | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| BRUCE P ROCKOWITZ | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| PETER G SCOTESE | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| J MICHAEL STANLEY | ||||||||
| DIRECTOR | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| DR JOYCE F BROWN | ||||||||
| CHIEF EXECUTIVE OFFICER | 10.0 | 0.0 | X | 44672 | 0 | 0 | X | |
| HELEN MCCLUSKY | ||||||||
| DIRECTOR (UNTIL DEC. 2012) | 1.0 | 0.0 | X | 0 | 0 | 0 | ||
| SHERRY BRABHAM | ||||||||
| CHIEF FINANCIAL OFFICER | 1.0 | 0.0 | 6667 | 0 | 0 | X | ||
| DAWN B DUNCAN | ||||||||
| EXECUTIVE DIRECTOR | 40.0 | 0.0 | 229736 | 0 | 39515 | X | ||
| TERRY CULVER | ||||||||
| DIRECTOR OF DEVELOPMENT | 40.0 | 0.0 | 160480 | 0 | 37315 | X | ||
| VICTORIA GURANOWSKI | ||||||||
| DIR SPECIAL EVENTS | 40.0 | 0.0 | 141683 | 0 | 35265 | X | ||
| KEVIN HERVAS | ||||||||
| DIRECTOR OF CORP/FDN RELATIONS | 40.0 | 0.0 | 103232 | 0 | 18044 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 686470 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 130139 | TotalOtherCompensation |
| Number Individuals GT100 K | 4 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | true | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (2 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| 42ND STREET LESSEE LLC | |||||
| 110 E 42 STREET | NEW YORK | NY | 10017 | CATERING | 157999 |
| GALE BRANDING | |||||
| 515 WEST 20TH STREET 6TH FL | NEW YORK | NY | 10011 | SPECIAL EVENTS SUPP | 105031 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 2 | NumberOfContractorsGT100K |
| Membership Dues | 103200 | MembershipDues |
| Fundraising Events | 312302 | FundraisingEvents |
| Government Grants | 22500 | GovernmentGrants |
| All Other Contributions | 7394238 | AllOtherContributions |
| Total Contributions | 7832240 | TotalContributions |
| Total Program Service Revenue | 0 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 634589 | TotalRevenueColumn |
| Exclusion | $634,589 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 15293976 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 14717620 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 576356 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 576356 | TotalRevenueColumn |
| Exclusion | $576,356 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 1067260 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 312302 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 336241 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 731019 | TotalRevenueColumn |
| Exclusion | $731,019 | ExclusionAmount |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 9774204 | TotalRevenueColumn |
| Exclusion | $1,941,964 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 750359 | Total |
| Program Services | 750359 | ProgramServices |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1303829 | Total |
| Program Services | 1303829 | ProgramServices |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 54672 | Total |
| Management And General | 54672 | ManagementAndGeneral |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 900148 | Total |
| Management And General | 900148 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 107441 | Total |
| Management And General | 107441 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 414751 | Total |
| Management And General | 414751 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 67027 | Total |
| Management And General | 67027 | ManagementAndGeneral |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 44910 | Total |
| Management And General | 44910 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 99779 | Total |
| Management And General | 99779 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 279472 | Total |
| Program Services | 169983 | ProgramServices |
| Management And General | 46435 | ManagementAndGeneral |
| Fundraising | 63054 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 73722 | Total |
| Program Services | 62701 | ProgramServices |
| Management And General | 11021 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 239784 | Total |
| Program Services | 227706 | ProgramServices |
| Management And General | 12078 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1173 | Total |
| Program Services | 1173 | ProgramServices |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 218515 | Total |
| Program Services | 198815 | ProgramServices |
| Fundraising | 19700 | Fundraising |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 159532 | Total |
| Program Services | 104330 | ProgramServices |
| Management And General | 1823 | ManagementAndGeneral |
| Fundraising | 53379 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| MUSEUM MATERIALS | 142619 | 142619 |
| EXHIBITIONS | 8484 | 8484 |
| LIBRARY MATERIALS | 5375 | 5375 |
| COLLEGE SUBSIDIES & MISC EXP | 50656 | 50656 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4922248 | Total |
| Program Services | 3026030 | ProgramServices |
| Management And General | 1760085 | ManagementAndGeneral |
| Fundraising | 136133 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1231029 | BOY |
| EOY | 2126660 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4989160 | BOY |
| EOY | 4977176 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2165333 | BOY |
| EOY | 4489683 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 69265 | BOY |
| EOY | 67710 | EOY |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22542386 | BOY |
| EOY | 25284217 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7188242 | BOY |
| EOY | 8273055 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 413963 | BOY |
| EOY | 495359 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 38599378 | BOY |
| EOY | 45713860 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 624278 | BOY |
| EOY | 709234 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 58000 | BOY |
| EOY | 324000 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 146327 | BOY |
| EOY | 485399 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 828605 | BOY |
| EOY | 1518633 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2398278 | BOY |
| EOY | 2192218 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10437978 | BOY |
| EOY | 15631005 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 24934517 | BOY |
| EOY | 26372004 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 37770773 | BOY |
| EOY | 44195227 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 38599378 | BOY |
| EOY | 45713860 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 4851956 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 1254890 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | 317608 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Separate | X | FinancialStatementSeparate |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| College Support Org170b1 Aiv | X | CollegeSupportOrg170b1Aiv |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 3909335 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 4625177 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 2832349 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 6015838 | CurrentTaxYearMinus1Year |
| Current Tax Year | 8563259 | CurrentTaxYear |
| Total | 25945958 | Total |
Tax Rev Levied For Org Benefit170 TaxRevLeviedForOrgBenefit170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Value Srvc Fclts Furnished By Govt ValueSrvcFcltsFurnishedByGovt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 3909335 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 4625177 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 2832349 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 6015838 | CurrentTaxYearMinus1Year |
| Current Tax Year | 8563259 | CurrentTaxYear |
| Total | 25945958 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 4023706 | AmountsSubstContributorsTotal |
| Public Support Total170 | 21922252 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 457210 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 569982 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 769537 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 831522 | CurrentTaxYearMinus1Year |
| Current Tax Year | 634589 | CurrentTaxYear |
| Total | 3262840 | Total |
Net UBI NetUBI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | 230 | CurrentTaxYearMinus2Years |
| Total | 230 | Total |
Other Income170 OtherIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 29209028 | TotalSupport |
| Public Support Pertcentage170 | 0.75053 | PublicSupportPertcentage170 |
| Public Support Pertcent Prior Year | 0.74400 | PublicSupportPertcentPriorYear |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 28597219 | BeginningOfYearBalance |
| Contributions | 1306887 | Contributions |
| Investment Earnings Or Losses | 2174607 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 915015 | GrantsOrScholarships |
| Administrative Expenses | 68654 | AdministrativeExpenses |
| End Of Year Balance | 31095044 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 29787663 | BeginningOfYearBalance |
| Contributions | 240706 | Contributions |
| Investment Earnings Or Losses | -223331 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1140274 | GrantsOrScholarships |
| Administrative Expenses | 67545 | AdministrativeExpenses |
| End Of Year Balance | 28597219 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 26543420 | BeginningOfYearBalance |
| Contributions | 203483 | Contributions |
| Investment Earnings Or Losses | 3181857 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 136593 | GrantsOrScholarships |
| Administrative Expenses | 4504 | AdministrativeExpenses |
| End Of Year Balance | 29787663 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 23323376 | BeginningOfYearBalance |
| Contributions | 1073644 | Contributions |
| Investment Earnings Or Losses | 1799533 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 291866 | GrantsOrScholarships |
| Administrative Expenses | 4712 | AdministrativeExpenses |
| End Of Year Balance | 25899975 | EndOfYearBalance |
Current Year Minus4 Years CurrentYearMinus4Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 28374265 | BeginningOfYearBalance |
| Contributions | 305086 | Contributions |
| Investment Earnings Or Losses | -3990218 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1362236 | GrantsOrScholarships |
| Administrative Expenses | 3521 | AdministrativeExpenses |
| End Of Year Balance | 23323376 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.02000 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.84000 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.14000 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | false | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | false | EndowmentsHeldByRelatedOrgs |
| Land | Land | |
| Buildings | Buildings | |
| Leasehold Improvements | LeaseholdImprovements | |
| Equipment | Equipment | |
| Other Land Buildings | OtherLandBuildings | |
| Financial Derivatives | FinancialDerivatives | |
| Closely Held Equity Interests | CloselyHeldEquityInterests | |
| Total Of Book Value Securities | 0 | TotalOfBookValueSecurities |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DUE TO AFFILIATE (FIT) | $235,399 |
| HOUSING CORPORATION) | $250,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 485399 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 11246923 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 1254890 | NetUnrealizedGainsInvestments |
| Other Revenues | 317608 | OtherRevenues |
| Revenue Not Rptd F990 | 1572498 | RevenueNotRptdF990 |
| Revenue Subtotal | 9674425 | RevenueSubtotal |
| Investment Expenses Not Included | 99779 | InvestmentExpensesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 99779 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 9774204 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 4822469 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 4822469 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 99779 | InvestmentExpensesNotIncluded2 |
| Expenses Not Rptd On Fin Stmt | 99779 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 4922248 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| INTENDED USES OF ENDOWMENT FUNDS | Part V, Line 4 | ENDOWED FUNDS ARE INTENDED TO PROVIDE SCHOLARSHIPS, AWARDS, AND PROGRAM ENRICHMENT FOR THE BENEFIT OF THE STUDENTS OF THE FASHION INSTITUTE OF TECHNOLOGY. |
| FIN 48 (ASC 740) FOOTNOTE | PART X, LINE 2 | 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, 2013 AND 2012. |
| OTHER ADJUSTMENTS | PART XI, LINE 2D | CHANGE IN VALUE OF CHARITABLE REMAINDER TRUSTS 81,396 NET CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION 236,212 ----------- TOTAL 317,608 =========== |
Schedule F IRS990ScheduleF
Accts Actvs Out US Table AcctsActvsOutUSTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | Central America and the Caribbean | Region |
| Type Of Activities Conducted | Investments | TypeOfActivitiesConducted |
| Total Expenditures | 3511026 | TotalExpenditures |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Amount Spent | 3511026 | SubtotalAmountSpent |
| Total Amount Spent | 3511026 | TotalAmountSpent |
| Transfer To Foreign Corp | true | TransferToForeignCorp |
| Interest In Foreign Trust | false | InterestInForeignTrust |
| Own Foreign Corp | true | OwnForeignCorp |
| Passive Foreign Invest Co | true | PassiveForeignInvestCo |
| Foreign Partnership | false | ForeignPartnership |
| Boycott Countries | false | BoycottCountries |
Schedule G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | DINNER | NameOfEvent1 |
| Gross Receipts Event1 | 1142602 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 180802 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 961800 | GrossRevenueEvent1 |
| Food And Beverage Event1 | 157999 | FoodAndBeverageEvent1 |
| Other Direct Expenses Event1 | 125190 | OtherDirectExpensesEvent1 |
| Name Of Event2 | GOLF CLASSIC | NameOfEvent2 |
| Gross Receipts Event2 | 236960 | GrossReceiptsEvent2 |
| Charitable Contributions Event2 | 131500 | CharitableContributionsEvent2 |
| Gross Revenue Event2 | 105460 | GrossRevenueEvent2 |
| Food And Beverage Event2 | 46491 | FoodAndBeverageEvent2 |
| Other Direct Expenses Event2 | 6561 | OtherDirectExpensesEvent2 |
| Total Number Of Other Events | 0 | TotalNumberOfOtherEvents |
| Gross Receipts Total | 1379562 | GrossReceiptsTotal |
| Charitable Contributions Total | 312302 | CharitableContributionsTotal |
| Gross Revenue Total Events | 1067260 | GrossRevenueTotalEvents |
| Food And Beverage Total Events | 204490 | FoodAndBeverageTotalEvents |
| Other Direct Expenses Total Events | 131751 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 336241 | DirectExpenseSummaryEvents |
| Net Income Summary | 731019 | NetIncomeSummary |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Recipient Table RecipientTable (3 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EIN Of RecipientEINOfRecipient | IRC SectionIRCSection | Amount Of Cash GrantAmountOfCashGrant | Purpose Of GrantPurposeOfGrant |
|---|---|---|---|---|---|---|---|
| FIT STUDENT HOUSING CORPORATION | |||||||
| 227 WEST 27TH STREET | NEW YORK | NY | 10001 | 133263493 | 501(C)(3) | 250000 | DORM OPERATING SUPT |
| FASHION INSTITUTE OF TECHNOLOGY | |||||||
| 227 WEST 27TH STREET | NEW YORK | NY | 10001 | 132556338 | 115 | 15000 | FIT CAPITAL PROJECTS |
| FASHION INSTITUTE OF TECHNOLOGY | |||||||
| 227 WEST 27TH STREET | NEW YORK | NY | 10001 | 132556338 | 115 | 485359 | DEPARTMENTAL SUPPORT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 2 | TotalNbrOf501C3AndGovtGrants |
Form990 Schedule I Part III Form990ScheduleIPartIII (2 entries)
| Type Of GrantTypeOfGrant | Number Of RecipientsNumberOfRecipients | Amount Of Cash GrantAmountOfCashGrant |
|---|---|---|
| SCHOLARSHIPS AND AWARDS FOR STUDENTS OF F.I.T | 1757 | 1296629 |
| EMERGENCY RELIEF GRANT | 8 | 7200 |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS | Identifier |
| Return Reference | SCHEDULE I, PART I, LINE 2 | ReturnReference |
| Explanation | 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 TECHONOLGY. THE EMERGENCY RELIEF GRANTS PAID WERE FOR HURRICANE SANDY RELIEF. HURRICANE SANDY WAS A PRESIDENTIALLY DECLARED DISASTER. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | false | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (3 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAWN B DUNCAN | ||||||||||||||
| EXECUTIVE DIRECTOR | 229736 | 0 | 0 | 0 | 0 | 0 | 18400 | 0 | 21115 | 0 | 269251 | 0 | 0 | 0 |
| TERRY CULVER | ||||||||||||||
| DIRECTOR OF DEVELOPMENT | 160480 | 0 | 0 | 0 | 0 | 0 | 16200 | 0 | 21115 | 0 | 197795 | 0 | 0 | 0 |
| VICTORIA GURANOWSKI | ||||||||||||||
| DIR SPECIAL EVENTS | 141683 | 0 | 0 | 0 | 0 | 0 | 14150 | 0 | 21115 | 0 | 176948 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | COMPENSATION FROM UNRELATED ORGANIZATION | Identifier |
| Return Reference | FORM 990, PART VII, SECTION A, LINE 5 | ReturnReference |
| Explanation | THE FASHION INSTITUTE OF TECHNOLOGY, AN UNRELATED ORGANIZATION, PAID DAWN B. DUNCAN A TOTAL OF $269,251 FOR HER SERVICES TO THE FASHION INSTITUTE OF TECHNOLOGY FOUNDATION. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (4 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11A: | 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: | NET CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION 236,212 CHANGE IN VALUE OF CHARITABLE REMAINDER TRUSTS 81,396 --------- OTHER CHANGES IN NET ASSETS OR FUND BALANCES 317,608 ========== |
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