University at Albany Foundation

Nonprofit profile at a glance

EIN
141503972
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Albany, NY, USA
Phone
5184375090
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$31,566,579
Expenses
$12,180,143
Assets
$276,898,927
Liabilities
$15,033,995

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

Leadership & pay

37 people listed

Executive titles in this filing

  • GEORGE HEARST III (PRESIDENT)
  • BRIAN STRAUGHTER (VICE PRESIDENT)
  • FARDIN SANAI (EXECUTIVE DIRECTOR)

Highest reported compensation

  • RICHARD MCGINN JR (CHIEF FINANCIAL OFFICER): $264,679 total reported compensation
  • CHRISTOPHER LOSAVIO (CONTROLLER): $168,589 total reported compensation
  • FARDIN SANAI (EXECUTIVE DIRECTOR): $18,965 total reported compensation

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

Overview

Mission

See schedule o

What it reported doing in 2024

Higher education program administer funds for the promotion, development and advancement of the welfare of the university at albany, suny, its students, faculty, staff and alumni. Scholarships, awards, and emergency student assistance were provided to 3,022 individuals

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 40% for direct work, and 60% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 67
  • Accountability: 98
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.1%; rating input score 41
  • Program expense ratio: 80.5%; rating input score 80
  • Fundraising efficiency: $29.24 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 99.7%; rating input score 100; 35th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 97.1%; rating input score 97; 31st 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: 61.4%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 22.73; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 7% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 10.7% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 41.1% of revenue deployed · 80.5% of spending went to programs
  • Governance: 33 of 34 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $9.8M in reported program spending
  • Leadership: top reported pay $265K · 37 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $166K reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 11 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 7 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.