Overview
What is Stony Brook Foundation Inc?
The Stony Brook Foundation Inc, established in 1965, is a not-for-profit corporation based in Stony Brook, New York. With a team of nine dedicated individuals, its mission is to support SUNY Stony Brook by fundraising and managing philanthropic gifts. The organization plays a crucial role in nurturing academic achievement among students and faculty by providing funds to attract and retain exceptional faculty through endowed chairs and professorships. Additionally, it contributes to curriculum enhancement and equips classrooms and laboratories with advanced technology. The Stony Brook Foundation's efforts are essential to advancing the tax-exempt mission of SUNY Stony Brook.
Official website here: www.stonybrook.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%, Four-Star out of Four Star rating from Charity Navigator.
The Stony Brook Foundation Inc has achieved a perfect score of 100% in the Accountability & Finance category, indicating strong financial health and transparency in its operations. This high rating reflects the organization’s commitment to maintaining a majority independent board, effective oversight through an audit committee, and a clear conflict of interest policy. Such standards enhance the organization's credibility and assure donors of its responsible management.
Financially, the foundation demonstrates impressive metrics, with a program expense ratio of 70.25%, indicating that a significant portion of its expenditures is directed toward its programs rather than administrative costs. Additionally, the foundation maintains a low fundraising efficiency ratio of $0.05, showing that it is effective in raising funds with minimal cost. The liabilities to assets ratio of 11.95% further underscores its stable financial standing, suggesting prudent management of resources.
Overall, the foundation exhibits a strong commitment to accountability and transparency, which are critical factors for donor trust and engagement. There are no notable limitations or areas of concern reported in the data, making it a highly regarded nonprofit in terms of financial integrity and operational efficacy.
This AI summary has been generated from information found on Charity Navigator.
Is Stony Brook Foundation Inc legitimate?
Stony Brook Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Stony Brook Foundation 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: $1,481,446
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,428,446
For more financial information, click here
Official website here: www.stonybrook.edu
What is the mission statement of Stony Brook Foundation Inc?
The Stony Brook Foundation Inc is a not-for-profit corporation, established in 1965, dedicated to advancing the tax-exempt mission of SUNY Stony Brook through fundraising efforts. By facilitating, accepting, and managing philanthropic gifts, the foundation supports various academic programs, centers, and institutes at SUNY Stony Brook. This financial assistance enables the attraction and retention of exceptional faculty through the use of endowed chairs and professorships, enhances curriculums, and equips classrooms and laboratories with the latest technology, fostering academic achievement among students and faculty.
Official website here: www.stonybrook.edu
Who is the CEO of Stony Brook Foundation Inc?
Carol Gomes is the CEO of Stony Brook Foundation Inc The CEO's salary of Stony Brook Foundation Inc is $333,752 and their total compensation is $333,752.
Official website here: www.stonybrook.edu
What is the revenue of Stony Brook Foundation Inc?
Stony Brook Foundation Inc's revenue in 2024 was $421,041,466.
Official website here: www.stonybrook.edu
Who are the executives of Stony Brook Foundation Inc and what are their salaries?
The average compensation at Stony Brook Foundation Inc during 2024 was $1,323,321. There are 9 employees and 21 volunteers at Stony Brook Foundation Inc.
Here are 32 key members and their salaries (Stony Brook Foundation Inc's CEO's salary is $333,752 and their total compensation is $333,752):
- Compensation: $137,349
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- Compensation: $548,352
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- Other: $219,341
- Compensation: $241,003
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- Other: $96,401
- Compensation: $48,925
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- Compensation: $286,959
- Related: $0
- Other: $114,784
- Compensation: $259,677
- Related: $0
- Other: $103,871
- Compensation: $333,752
- Related: $0
- Other: $0
- Compensation: $217,143
- Related: $0
- Other: $86,857
- Compensation: $168,706
- Related: $0
- Other: $67,482
Official website here: www.stonybrook.edu
Where can I find the form 990 for Stony Brook Foundation Inc?
Stony Brook Foundation Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.stonybrook.edu
Learn more at the official website: www.stonybrook.edu
Mission Statement of Stony Brook Foundation Inc
The Stony Brook Foundation, Inc. is a not-for-profit corporation, established in 1965, dedicated to advancing the tax-exempt mission of SUNY Stony Brook through fundraising efforts. In simple terms, this organization exists to facilitate, accept, and manage philanthropic gifts on behalf of SUNY Stony Brook. By doing so, it supports various academic programs, centers, and institutes at the university.
The Stony Brook Foundation plays a crucial role in nurturing academic achievement among SUNY Stony Brook students and faculty. It achieves this by providing funds to attract and retain exceptional faculty through the use of endowed chairs and endowed professorships. These positions not only bring in top talent but also foster a stimulating academic environment. Furthermore, the foundation aids in curriculum enhancement and equips classrooms and laboratories with the latest technology. These investments enable students and faculty to conduct cutting-edge research and remain at the forefront of their respective fields.
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Impact
October, 2024
Stony Brook Foundation Inc. significantly impacts the educational landscape at SUNY Stony Brook by advancing its mission through targeted fundraising efforts. The foundation provides essential funding to support a variety of academic programs, centers, and institutes, ultimately nurturing academic achievement among students and faculty.
With a focus on attracting and retaining exceptional faculty, the foundation establishes endowed chairs and professorships that enhance the university's academic excellence. Additionally, the foundation contributes to curriculum enhancement and ensures that classrooms and laboratories are equipped with the latest technology, fostering an innovative learning environment.
By facilitating and managing philanthropic gifts, Stony Brook Foundation Inc. plays a crucial role in bolstering the resources available to the university, empowering both students and faculty to thrive in their academic pursuits and research endeavors.
This information is meant to be a general summary of Stony Brook Foundation 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 2024.
- Investment Income: $7,333,514
- Program Service Revenue: $2,382,376
- Gross Receipts: $798,569,920
Assets and Liabilities:
- Total Assets: $805,257,176
- Total Liabilities: $78,050,027
- Net Assets: $727,207,149
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACTUAL AGENCY FEE
Revenue
$2,382,376
Organization Details
Founding Year
1965
Principal Officer
Justin Fincher
Website
www.stonybrook.eduNTEE Category
Code: B112 - Education
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