Corning Community College Development Foundation Inc

Nonprofit profile at a glance

EIN
222447399
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Corning, NY, USA
Phone
6079629458
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$2,634,554
Expenses
$3,226,718
Assets
$27,199,131
Liabilities
$16,318,924

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

Leadership & pay

13 people listed

Executive titles in this filing

  • JILL KOSKI (PRESIDENT)
  • FREDERICK ARCURI (VICE PRESIDENT)
  • DR JOHN MARCHESE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DR JOHN MARCHESE (EXECUTIVE DIRECTOR): $130,612 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To solicit, receive, and maintain funds in order to contribute to the long-range goals, objectives, and success of corning community college.

What it reported doing in 2024

To initiate and operate class space and programs for the benefit of corning community college. Includes periodic grants directly to corning community college and to students.

Operating model

Revenue model
Earned-program. 60% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 83% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 40
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.7%; rating input score 87
  • Fundraising efficiency: $1.18 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -22.5%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 8.43; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.6; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: -1.2% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: -2.1% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.7% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.8M in reported program spending
  • Leadership: top reported pay $131K · 13 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 3/100.
  • High — Sustainability: Operating margin scored 6/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.