Overview
What is Stony Brook Foundation Realty Inc?
Stony Brook Foundation Realty Inc is a nonprofit organization with a unique mission. Its primary goal is to manage real estate assets, specifically in the vicinity of the State University of New York at Stony Brook. This involves acquiring land, constructing buildings, and even leasing properties. The organization's main objective is to benefit the Stony Brook Foundation, and it has one ongoing investment that aligns with this mission. Despite not carrying out programmatic activities in 2021, Stony Brook Foundation Realty Inc continues to maintain its real estate holdings.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star Rating
Stony Brook Foundation Realty Inc has received a solid Three-Star rating, reflecting a strong emphasis on accountability and finance with a score of 79%. This rating is particularly significant as it highlights the organization’s commitment to transparency and responsible management of its resources. The overall score is derived solely from the Accountability & Finance beacon, which indicates a focused approach to evaluating the charity's financial practices.
The organization demonstrates notable strengths, including having a fully independent board with 77% of its members meeting this criterion. Additionally, there have been no material diversions of assets, which is a positive indicator of financial integrity. The presence of comprehensive policies such as conflict of interest, whistleblower protection, and document retention further emphasizes the foundation's commitment to ethical governance.
However, while the program expense ratio is impressively high at 91.79%, indicating that a significant portion of expenditures is directed towards its programs, the overall score suggests there may be areas for improvement in other aspects of performance not captured by the current evaluation metrics. Overall, the foundation seems to be well-managed but could benefit from a broader range of assessments to provide a more holistic view of its impact and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Stony Brook Foundation Realty Inc legitimate?
Stony Brook Foundation Realty Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Stony Brook Foundation Realty Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
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Other Salaries and Wages: $0
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What is the mission statement of Stony Brook Foundation Realty Inc?
Stony Brook Foundation Realty Inc's primary mission is to serve the benefit of the Stony Brook Foundation. This is achieved by holding real estate, either by leasing or purchasing properties. The company also has the mandate to develop, construct, finance, and manage one or more buildings. Although it did not engage in programmatic activities in 2021, it continues to manage an investment in line with its primary exempt mission.
Who is the CEO of Stony Brook Foundation Realty Inc?
Justin Fincher is the Executive Director (As Of 08/2021) of Stony Brook Foundation Realty Inc.
What is the revenue of Stony Brook Foundation Realty Inc?
Stony Brook Foundation Realty Inc's revenue in 2022 was $51,426.
Who are the executives of Stony Brook Foundation Realty Inc and what are their salaries?
Here are 9 key members and their salaries:
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- Related: $135,000
- Other: $10,327
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- Related: $50,000
- Other: $3,825
Where can I find the form 990 for Stony Brook Foundation Realty Inc?
Stony Brook Foundation Realty Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Stony Brook Foundation Realty Inc
Stony Brook Foundation Realty Inc, as a nonprofit organization, is primarily tasked with holding real estate for the benefit of the Stony Brook Foundation. Its specific roles include leasing or purchasing land in proximity to the State University of New York at Stony Brook, and then developing, constructing, financing, and managing one or more buildings. Despite not engaging in programmatic activities in 2021, the organization continues to uphold this mission, maintaining one investment that aligns with its primary exempt purpose.
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Impact
October, 2024
Stony Brook Foundation Realty Inc plays a crucial role in supporting and enhancing the infrastructure surrounding the State University of New York at Stony Brook. By holding and managing real estate assets, the organization directly contributes to the development and improvement of the community in and around the university. Through its activities, which include leasing, purchasing, and holding title to land, the foundation facilitates the construction and operation of buildings that can support educational, research, and community initiatives.
Although Stony Brook Foundation Realty did not engage in active programmatic activities in 2021, it maintains an investment that is aligned with its mission of benefiting the Stony Brook Foundation. This strategic focus on real estate ensures that essential resources are available to foster growth and development in the region, ultimately benefiting students, faculty, and community members. The foundation's efforts help in creating a vibrant, supportive environment that encourages educational excellence and community engagement.
This information is meant to be a general summary of Stony Brook Foundation Realty Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $151,426
Assets and Liabilities:
- Total Assets: $341,055
- Total Liabilities: $410,018
- Net Assets: -$68,963
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Organization Details
Founding Year
1979
Phone
(631) 632-6536Principal Officer
Justin Fincher
Main Address
230 ADMINISTRATION, STONY BROOK, NY, 11794
NTEE Category
Code: S47 - Community improvement
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