Queens College Foundation Inc

Overview

Mission

See schedule o

What it reported doing in 2024

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 services 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 inexperimental educational activities and projects.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 64% for direct work, and 36% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
116080521
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-N 2008
Location
Flushing, NY, USA
Phone
7189975408
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$22,833,332
Expenses
$14,010,170
Assets
$125,163,344
Liabilities
$1,032,040

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 71
  • Accountability: 98
  • Sustainability: 89
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.8%; rating input score 58
  • Program expense ratio: 73.7%; rating input score 74
  • Fundraising efficiency: $19.06 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.9%; rating input score 97; 30th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 38.6%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 8.93; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 5.2% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 6.9% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 57.8% of revenue deployed · 73.7% of spending went to programs
  • Governance: 31 of 32 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $10.3M in reported program spending
  • Leadership: top reported pay $529K · 34 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.

Leadership & pay

34 people listed

Highest reported compensation

  • FRANK H WU (PRESIDENT): $529,110 total reported compensation
  • LAURIE DORF (EXECUTIVE DIRECTOR): $253,855 total reported compensation
  • MAUREEN GIANNOTTI (CONTROLLER): $153,918 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024.