Suny Cobleskill College Foundation

Nonprofit profile at a glance

EIN
237106325
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Cobleskill, NY, USA
Phone
5182555524
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,999,576
Expenses
$2,512,906
Assets
$18,114,329
Liabilities
$91,975

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

Leadership & pay

23 people listed

Executive titles in this filing

  • TIM PURCELL (PAST PRESIDENT)
  • MARION TERENZIO PHD (COLLEGE PRESIDENT)
  • JOHN BRUST (PRESIDENT)
  • MITCHELL NUDELMAN DM (VICE PRESIDENT)
  • JOHN ZACHAREK (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARION TERENZIO PHD (COLLEGE PRESIDENT): $461,760 total reported compensation
  • WENDY GILMAN (ASSISTANT TREASURER): $286,355 total reported compensation
  • JOHN ZACHAREK (EXECUTIVE DIRECTOR): $268,387 total reported compensation

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

Overview

Mission

The foundation's mission is to develop additional resources to enable the college to provide quality educational experiences for its students. The foundation provides annual and honors scholarships as well as awards based on financial need and academic merit. Also supported by foundation resources are college-wide major gift fundraising and asset management, emergency student loans, special projects for professional staff development, support for unique academic enrichment programs, and enhancement of the community's awareness of the college and its services.

What it reported doing in 2024

The organization collects an administrative fee from the scholarships it administers in order to cover general and administrative costs. The organization accounts for educational program activities for which income is earned through student activities to support educational activity expenses.

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 42% for direct work, and 58% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 83
  • Accountability: 75
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.5%; rating input score 64
  • Program expense ratio: 78.9%; rating input score 79
  • Fundraising efficiency: $20.73 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 80%; rating input score 80; 14th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 37.2%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 7.21; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 10% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 10.9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 64.5% of revenue deployed · 78.9% of spending went to programs
  • Governance: 16 of 20 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $462K · 23 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Accountability: Governance controls: 3 of 9 not reported.