Empire State University Foundation Inc

Nonprofit profile at a glance

EIN
510193595
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Saratoga Springs, NY, USA
Phone
5185872100
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$5,052,086
Expenses
$2,182,503
Assets
$49,908,536
Liabilities
$87,435

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

Leadership & pay

20 people listed

Executive titles in this filing

  • LISA VOLLENDORF PHD (ESU PRESIDENT)

Highest reported compensation

  • LISA VOLLENDORF PHD (ESU PRESIDENT): $630,466 total reported compensation
  • MARLY NORRIS ((FORMER EXEC. DIR.)(NON-VOTING)): $355,826 total reported compensation
  • JULIETA MAJAK (TREASURER (NON VOTING MEMBER)): $348,621 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 assist in advancing the welfare and development of empire state university (a unit of the state university of New York), including financial assistance to students, faculty, staff and university programs.

What it reported doing in 2024

The foundation gave 680 students scholarships, 380 faculty development awards, and 13 honoraria.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 77% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 71
  • Accountability: 83
  • Sustainability: 84
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.8%; rating input score 81
  • Program expense ratio: 82.8%; rating input score 83
  • Fundraising efficiency: $13.78 raised per $1 spent on fundraising; rating input score 48; 48th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 99.7%; rating input score 100; 40th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 86.7%; rating input score 87; 18th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 56.8%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 22.87; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 29.2%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -2.9% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: 8.4% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 80.8% of revenue deployed · 82.8% of spending went to programs
  • Governance: 13 of 15 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $630K · 20 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 48/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 6/100.