Overview
What is University At Albany Foundation?
The University At Albany Foundation is a nonprofit organization based in Albany, New York, with a mission to support and advance the welfare of the State University of New York at Albany (University), its students, faculty, staff, and alumni. Established under Section 501(c)(3) of the Internal Revenue Code, the Foundation manages and invests donated funds for their promotion and development. The organization, which employs nine individuals, has provided scholarships, awards, and emergency student assistance to over 2,700 individuals. Its purpose is to encourage and accept donations, hold and invest the funds, and make disbursements for the benefit of the University and related organizations.
Official website here: www.albany.edu/uafoundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
The University At Albany Foundation has achieved an impressive Four-Star rating from Charity Navigator, reflecting a perfect score of 100% in Accountability & Finance. This rating signifies the foundation's strong commitment to transparency and responsible financial management, which is critical for fostering trust among donors and stakeholders. The foundation's fiscal practices are maintained with rigorous oversight and independent governance.
One of the organization's notable strengths is its board composition, which consists entirely of independent members (10 out of 10 points). In addition, the foundation demonstrates robust financial controls, with all necessary policies in place, such as conflict of interest and whistleblower policies. Their financial ratios, including a program expense ratio of over 80% and a minimal fundraising cost of just $0.04 for every dollar raised, underline the foundation's efficiency in utilizing funds for its core mission.
While the organization exhibits excellent overall performance, it is important to remain aware of potential changes in the nonprofit landscape that could impact its operations. However, based on the current data, the University At Albany Foundation stands out as a highly accountable and financially sound nonprofit, making it a worthy choice for potential donors looking to support a responsible organization.
This AI summary has been generated from information found on Charity Navigator.
Is University At Albany Foundation legitimate?
University At Albany Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. University At Albany Foundation 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: $282,570
Professional Fundraising Fees: $22,500
Other Salaries and Wages: $378,623
For more financial information, click here
Official website here: www.albany.edu/uafoundation
What is the mission statement of University At Albany Foundation?
The University At Albany Foundation functions with the objective of encouraging donations, managing and investing funds, and making disbursements to support the advancement and welfare of the State University of New York at Albany (University). This includes students, faculty, staff, and other qualifying organizations under Section 501(C)(3) of the Internal Revenue Code. The mission encompasses providing assistance to the University for its continued development and promotion.
Official website here: www.albany.edu/uafoundation
Who is the CEO of University At Albany Foundation?
Fardin Sanai is the Chief Financ of University At Albany Foundation.
Official website here: www.albany.edu/uafoundation
What is the revenue of University At Albany Foundation?
University At Albany Foundation's revenue in 2022 was $16,220,435.
Official website here: www.albany.edu/uafoundation
Who are the executives of University At Albany Foundation and what are their salaries?
The average compensation at University At Albany Foundation during 2022 was $73,466. There are 9 employees and 37 volunteers at University At Albany Foundation.
Here are 41 key members and their salaries:
- Compensation: $213,585
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- Other: $22,392
- Compensation: $130,430
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- Other: $13,838
- Compensation: $119,059
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- Other: $12,912
- Compensation: $11,794
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Official website here: www.albany.edu/uafoundation
Where can I find the form 990 for University At Albany Foundation?
University At Albany Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.albany.edu/uafoundation
Learn more at the official website: www.albany.edu/uafoundation
Mission Statement of University At Albany Foundation
University At Albany Foundation, a charitable organization, is dedicated to encouraging donations and managing funds for the benefit of the State University of New York at Albany (University). Its primary objective is to support the University, its students, faculty, staff, and alumni, as well as other qualifying non-profit organizations under Section 501(C)(3) of the tax code. The Foundation's mission involves receiving, accepting, holding, investing, and disbursing money and property for the promotion, development, and advancement of the University's welfare. Through its philanthropic actions, the University At Albany Foundation plays a vital role in enhancing the University's growth and success.
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Impact
October, 2024
The University at Albany Foundation has a significant impact on the educational landscape and community surrounding the State University of New York at Albany. By managing and disbursing funds, the Foundation supports a variety of initiatives that enhance the welfare of students, faculty, staff, and alumni.
Over the years, it has provided scholarships, awards, and emergency assistance to 2,765 individuals, enabling them to pursue their academic and career goals. The Foundation's work promotes the development and advancement of the university, thereby enriching the overall educational experience and fostering a vibrant academic community. Through its financial management and investment strategies, the Foundation ensures that resources are effectively utilized to create lasting benefits for the university and its stakeholders. Whether it's through enhancing academic programs, providing necessary resources, or supporting innovative projects, the University at Albany Foundation plays a crucial role in shaping the future of higher education in the region.
This information is meant to be a general summary of University At Albany Foundation. 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.
- Investment Income: $4,612,687
- Program Service Revenue: $684,262
- Gross Receipts: $31,787,591
Assets and Liabilities:
- Total Assets: $162,512,695
- Total Liabilities: $13,562,329
- Net Assets: $148,950,366
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMINISTRATIVE FEE INCOME
Revenue
$430,223
PROGRAM ACTIVITIES
Revenue
$254,039
Organization Details
Founding Year
1967
Phone
(518) 437-5090Principal Officer
Fardin Sanai
Main Address
1400 WASHINGTON AVENUE UAB 226, ALBANY, NY, 12222
Website
www.albany.edu/uafoundationNTEE Category
Code: B110 - Education
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