2023-12-08T06:01:25+00:00 2023-06-30 366055558 Grant Thornton LLP 757 THIRD AVENUE NEW YORK NY 100172023 990 2022-07-01 141368361 The Research Foundation for The State University of New York RESE 5184347050 PO BOX 9 ALBANY NY 12201 Ryan Farrell Interim Chief Financial Officer 5184347050 2023-12-08 true MR FARRELL 999009999 true DANIEL ROMANO P00504182 2125990100 2022 2023-04-26 12:10:37Z DR MELUR K RAMASUBRAMANIAN PO BOX 9 ALBANY NY 12201 1425639801 false X WWW.RFSUNY.ORG X 1951 NY SEE SCHEDULE O 14 13 14618 560 2271893 251170 1117457739 1157026914 175077334 191795381 28283931 18199710 47437145 28382955 1368256149 1395404960 0 0 626070894 706373275 0 0 602109145 651108349 1228180039 1357481624 140076110 37923336 1436768379 1528226855 689665282 700087434 747103097 828139421 X SEE SCHEDULE O false false 711902024 0 769724 RESEARCH- PROGRAM SERVICE ACCOMPLISHMENTS- SEE SCHEDULE O 110210438 0 512441 PUBLIC SERVICE- PROGRAM SERVICE ACCOMPLISHMENTS- SEE SCHEDULE O 88651932 0 8 TRAINING AND EDUCATION- PROGRAM SERVICE ACCOMPLISHMENTS - SEE SCHEDULE O 262728956 0 213923974 THE RF PROVIDES SERVICES TO CAMPUS-RELATED ORGANIZATIONS ACROSS 31 SUNY LOCATIONS AND TO RF AFFILIATES - SEPARATE, PRIVATE CORPORATIONS THAT SUPPORT CAMPUS GOALS TO CONDUCT COLLABORATIVE RESEARCH PROJECTS, EMPOWER SMALL BUSINESS INCUBATION, AND MANAGE AND DEVELOP REAL ESTATE. THE RF OFFERS HUMAN RESOURCES/PAYROLL AND PURCHASING/PAYABLES ADMINISTRATIVE SERVICES TO THESE ORGANIZATIONS. CAMPUS-RELATED ORGANIZATIONS ARE CREATED TO SUPPORT SUNY'S MISSION; EXAMPLES OF SUCH ORGANIZATIONS ARE CAMPUS FOUNDATIONS AND CLINICAL PRACTICE PLANS AT THE SUNY MEDICAL INSTITUTIONS. APPROXIMATELY 1,800 INDIVIDUALS WERE EMPLOYED BY THE RF FOR THESE PROGRAM SERVICES. THE RF ALSO ADMINISTERS GRANTS AND CONTRACTS SUCH AS SCHOLARSHIPS AND FELLOWSHIPS FOR SUNY STUDENTS THAT ARE FUNDED BY EXTERNAL SPONSORS AND ADMINISTERS PROGRAMS SUCH AS THE SUNY TECHNOLOGY ACCELERATOR FUND (TAF), WHICH ENABLES FACULTY INVENTORS AND SCIENTISTS TO DEMONSTRATE THAT THEIR PROMISING IDEAS HAVE COMMERCIAL POTENTIAL THROUGH FEASIBILITY STUDIES, PROTOTYPING, AND TESTING. THE REMAINING APPROXIMATELY 2,800 INDIVIDUALS EMPLOYED BY THE RF WERE MAINLY CORPORATE STAFF SUPPORTING THE PROGRAMS DESCRIBED IN LINES 4A THROUGH 4D. FOR MORE INFORMATION ABOUT THE RF GO TO WWW.RFSUNY.ORG. 262728956 213923974 1173493350 true true false true false false false false true true true false true true true true true false true true false false false false false false false false true false false false false false false true false true false false false false true true true true false true 4287 0 true 14618 true true true false false false false false false false false false false false X 14 13 true false false false false false false true true false false true true true true true true true true true true X X MR RYAN FARRELL 5184347050 PO BOX 9 ALBANY NY 12201 COL TIMOTHY J LAWRENCE DIRECTOR (AS OF 09/2022) 1.0 0.0 X 0 0 0 DR BAHGAT SAMMAKIA DIRECTOR 10.0 0.0 X 0 0 0 DR HARVEY STENGER DIRECTOR (THROUGH 2/2023) 2.0 0.0 X 125000 0 12500 DR MAURIE D MCINNIS DIRECTOR 1.0 0.0 X 0 0 0 DR SATISH K TRIPATHI DIRECTOR 2.0 0.0 X 0 0 0 MR DANIEL C TOMSON CHAIR 9.0 0.0 X 0 0 0 MR EDWARD SPIRO DIRECTOR (AS OF 09/2022) 5.0 0.0 X 0 0 0 MR ERIC L COCHRAN DIRECTOR 3.0 0.0 X 0 0 0 MR JEFFREY BLACK DIRECTOR THROUGH 2/2023 4.0 0.0 X 0 0 0 MR ROBERT MEGNA DIRECTOR 7.5 0.0 X 0 0 0 MR ROBERT P BALACHANDRAN DIRECTOR 1.0 0.0 X 0 0 0 MR ROBERT S AZEKE DIRECTOR 1.0 0.0 X 0 0 0 MS DIANE M MINAS DIRECTOR 2.0 0.0 X 0 0 0 MS EILEEN WHELLEY DIRECTOR 5.0 0.0 X 0 0 0 MS HEATHER BRICCETTI MULLIGAN DIRECTOR (AS OF 2/2023) 1.0 0.0 X 0 0 0 MS HILLARY D HANSEN DIRECTOR 2.0 0.0 X 0 0 0 DR JEFFREY CHEEK PRESIDENT & CHIEF EXECUTIVE OFFICER 37.5 0.0 X 345877 0 38516 MR CHRISTOPHER ASHLEY GENERAL COUNSEL AND SECRETARY 37.5 0.0 X 282983 0 52718 MR RYAN P FARRELL INTERIM CHIEF FINANCIAL OFFICER 37.5 0.0 X 166205 0 28689 MS EMILY KUNCHALA CHIEF FINANCIAL OFFICER 37.5 0.0 X 244213 0 67009 MR JOSHUA TOAS CHIEF COMPLIANCE OFFICER 37.5 0.0 X 214623 0 50438 MR DAVID ANDERSON PRESIDENT NY CREATES 37.5 0.0 X 284287 0 25953 MR DAVID MARCUS CIO, STONY BROOK FOUNDATION 37.5 0.0 X 455444 0 52835 MS DIANE FISCHER AVP FOR ACADEMIC BUDGET AND FINANCIAL PLANNING 37.5 0.0 X 283217 0 29798 MS EILEEN M PEZZI VP FOR DEVELOPMENT, UPSTATE MEDICAL UNIV 37.5 0.0 X 338365 0 69859 MS LORRAINE L MANZELLA ADMN DIR UPSTATE UNIV MED ASSOCIATION 37.5 0.0 X 293330 0 48129 3033544 0 476444 539 false true false Air Liquide Electronics UC LP 9811 KATY FREEWAY SUITE 100 HOUSTON NY 77024 Gas and Chemical MGT 3216225 Bank of New York Mellon Corporation 240 Greenwich Street New York NY 10286 Investments Custodian 2378608 MedBest Medical Management INcorporated 251 Salina Meadows Parkway Suite 100 Syracuse NY 13212 Staffing Agency 2035476 University Neurology Incorporated 100 High Street Buffalo NY 14203 UB Study Related to Health Improvements 1285928 Bank of America 100 North Tyron Street Charlotte NC 28255 Banking Services 1016128 125 708372095 448654819 43035 1157026914 AGENCY ACTIVITY 561000 191795381 191795381 0 0 0 0 191795381 10467686 25195 10442491 4972189 4972189 0 0 26595126 11371739 19078840 11156001 7516286 215738 7732024 7732024 AGENCY FEES 561000 6969783 6969783 SERVICE CENTER REVENUE 541380 7747009 5500311 2246698 8693974 8693974 0 0 23410766 1395404960 212959449 2271893 23146704 1655603 1655603 123414 123414 512912813 437721268 75191545 32217308 27407035 4810273 126968909 104602998 22365911 32495228 27643460 4851768 1348310 188849 1159461 313464 19919 293545 135783 135783 2545934 2545934 96279106 81969505 14309601 0 2301772 874159 1427613 100289324 91283165 9006159 12143770 3781582 8362188 6128608 6128608 44247217 38204774 6042443 16994532 14248033 2746499 7583777 5640140 1943637 17092790 14142783 2950007 91376154 87063228 4312926 1934400 442923 1491477 SUBCONTRACTS 118593383 118386026 207357 TUITION AND FEES 23119083 22449161 669922 FELLOWSHIPS 21176859 20458504 718355 EQUIPMENT 40065249 33736579 6328670 47438834 36977237 10461597 0 1357481624 1173493350 183988274 0 0 0 118817104 61572114 191400649 224378891 18258400 21288059 0 0 0 0 2997 1513 57310 61163 991573472 523963197 525464494 467610275 178819311 205948734 379891307 385289802 0 7232548 5202577 16824259 156873727 1436768379 1528226855 158544195 146191530 309200616 262521279 3165000 2920000 0 0 181742630 159153559 9500000 1570000 27512841 127731066 689665282 700087434 726689959 797197175 20413138 30942246 747103097 828139421 1436768379 1528226855 X 37923336 22497774 20615214 X false true X true true true X 957792336 1341231620 1093382336 1117457739 1157026914 5666890945 0 0 957792336 1341231620 1093382336 1117457739 1157026914 5666890945 397182823 5269708122 13326564 12127829 11342525 22194631 15414680 74406229 25796 663251 416400 252170 1357617 213788440 215526830 206753270 201964859 21164068 859197467 6601852258 1041351126 0.7982 0.7794 X Schedule A, Part II OTHER INCOME SEE ATTACHMENT Schedule A, Part II, Line 10 Other Income DESCRIPTION - AGENCY FEES, COLUMN A - 7029653.0, COLUMN B - 7146522.0, COLUMN C - 6652471.0, COLUMN D - 6547825.0, COLUMN E - 6969783.0, COLUMN F - 34346254.0; DESCRIPTION - OTHER EDUC. SUPPORT SERVICES, COLUMN A - 20761900.0, COLUMN B - 26343671.0, COLUMN C - 24774767.0, COLUMN D - 18054374.0, COLUMN E - 8693974.0, COLUMN F - 98628686.0; DESCRIPTION - EQUITY PARTNERSHIP, COLUMN A - 2478438.0, COLUMN B - 2574840.0, COLUMN C - 2448062.0, COLUMN D - 2285326.0, COLUMN E - , COLUMN F - 9786666.0; DESCRIPTION - AGENCY DIRECT, COLUMN A - XXX-XX-XXXX.0, COLUMN B - XXX-XX-XXXX.0, COLUMN C - XXX-XX-XXXX.0, COLUMN D - XXX-XX-XXXX.0, COLUMN E - , COLUMN F - XXX-XX-XXXX.0; DESCRIPTION - SERVICE CENTER REVENUE, COLUMN A - , COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - 5500311.0, COLUMN F - 5500311.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 135783 false false 135783 false Schedule C, Part II-B DESCRIPTION OF LOBBYING ACTIVITIES THE REPORTED EXPENDITURES ARE INCURRED BY THE RF AS FISCAL AGENT FOR THE STATE UNIVERSITY OF NEW YORK (SUNY) SYSTEM ADMINISTRATION AND MANY OF SUNY'S 64 MEMBER INSTITUTIONS WITH REGARD TO FEDERAL, STATE, AND LOCAL LEGISLATION AND DIRECT FUNDING SUPPORT FOR VARIOUS PROJECTS TO BE SPONSORED BY OR ADMINISTERED BY NUMEROUS SUNY CAMPUSES. BECAUSE THE RF ACTS AS FISCAL AGENT FOR SUNY AND ITS MEMBER INSTITUTIONS, EXPENDITURES INCURRED BY SUNY AND THE RF REGARDING FEDERAL LEGISLATION AND FUNDING ARE REPORTED ON THE APPROPRIATE FEDERAL LOBBY DISCLOSURE ACT (LDA) FORM LD-2. EXPENDITURES FOR STATE AND LOCAL LEGISLATION AND APPROPRIATIONS ARE REPORTED BY SUNY CONSISTENT WITH APPLICABLE NEW YORK STATE AND NEW YORK CITY LAW AND REGULATIONS. 20413138 10000000 1308883 631617 148158 30942246 23891429 -2220280 1058953 199058 20413138 20196756 0 4782698 899663 188362 23891429 12403732 8000000 614445 674050 147371 20196756 7979153 4200000 570711 200000 146132 12403732 0.0 0.0 1.0 true false 324204048 211223282 112980766 667369424 312739915 354629509 467610275 ABSOLUTE MULTISTRATEGY FUNDS 79633489 F INVEST IN EQUITY PARTNERSHIP 3182603 F CREDIT SECURITIES FUNDS 3029507 F GLOBAL EQUITIES FUNDS 117309086 F HEDGED EQUITIES FUNDS 72030967 F PRIVATE EQUITY FUNDS 89161904 F POOLED ENDOWMENT 20942246 F 385289802 Due From Broker 43401516 Royalty Receivable 410000 Deferred Compensation Plan Assets 8704109 Right To Use Asset - Operating Lease 104358102 156873727 POST RETIREMENT BENEFIT LIABILITY 4126500 457B PLAN LIABILITY 8704109 INTEREST RATE SWAP 108605 Due to Broker 10290539 Operating Leases 104501313 127731066 X 1243252009 22497774 20615214 43112988 1200139021 3470558 191795381 195265939 1395404960 1162215685 0 0 1162215685 3470558 191795381 195265939 1357481624 Schedule D, Part V, Line 4 Intended uses of endowment funds THE ENDOWMENT FUNDS DESCRIBED IN THIS SECTION CONSIST OF THREE AWARDS FROM THE NATIONAL INSTITUTE ON MINORITY HEALTH AND HEALTH DISPARITIES (NIMHD), TWO OF WHICH WERE FULLY COLLECTED BY THE RF. THE THIRD ENDOWMENT GRANT WAS AWARDED IN JUNE 2023 AND SCHEDULED TO BE RECIEVED IN $2.0 MILLION INCREMENTS OVER THE FIRST FIVE YEAR-PERIODS OF THE GRANT. UNDER THESE GRANTS THE ENDOWMENT RETURND ARE TO BE USED TO FACILITATE MINORITY AND HEALTH DISPARITIES RESEARCH. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote FOOTNOTE 2(o) OF THE JUNE 30, 2023 AUDITED FINANCIAL STATEMENTS CONTAINS THE FOLLOWING LANGUAGE REGARDING FIN 48 (ASC 740): THE RF IS A NOT-FOR-PROFIT CORPORATION AND HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE TO BE AN ORGANIZATION DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) AND, THEREFORE, IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. THE RF RECOGNIZES THE EFFECTS OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THERE ARE NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023 AND 2022. THE RF IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS AND BELIEVES THAT IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO THE YEAR ENDED JUNE 30, 2019. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 GAIN ON INTEREST RATE SWAP - 144751 POST RETIREMENT CHANGE IN NET ASSETS - 20470463 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements AGENCY PROGRAM SERVICE REVENUE - XXX-XX-XXXX Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements AGENCY PROGRAM SERVICE EXPENSE - XXX-XX-XXXX Central America and the Caribbean 0 11 Program Services Organized Research 73050 Central America and the Caribbean 0 5 Program Services Public Services 54953 East Asia and the Pacific 0 70 Program Services Training 4030187 East Asia and the Pacific 1 13 Program Services Organized Research 374006 East Asia and the Pacific 0 3 Program Services Public Services 53717 Europe (Including Iceland and Greenland) 0 53 Program Services Organized Research 7559559 Europe (Including Iceland and Greenland) 0 4 Program Services Public Services 25938 Europe (Including Iceland and Greenland) 0 2 Program Services Educational Support 152012 Middle East and North Africa 0 2 Program Services Organized Research 10908 Middle East and North Africa 0 5 Program Services Public Services 29916 North America (Canada & Mexico only) 0 17 Program Services Organized Research 123888 North America (Canada & Mexico only) 0 0 Program Services Educational Support 3339 Russia and Neighboring States 0 1 Program Services Public Services 6311 South America 1 3 Program Services Organized Research 8329 South America 0 12 Program Services Public Services 120932 South Asia 0 1 Program Services Organized Research 25732 South Asia 0 5 Program Services Public Services 98237 Sub-Saharan Africa 0 0 Program Services Training 111522 Sub-Saharan Africa 1 13 Program Services Organized Research 275690 Sub-Saharan Africa 0 0 Program Services Public Services 126955 Central America and the Caribbean 0 0 Investments Investments 307407658 Europe (Including Iceland and Greenland) 0 0 Investments Investments 576981 North America (Canada & Mexico only) 0 0 Investments Investments 1212965 2 202 1 18 3 220 12652777 309810008 322462785 true false true true true true Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; MIDDLE EAST AND NORTH AFRICA-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; RUSSIA AND NEIGHBORING STATES-Accrual; SOUTH AMERICA-Accrual; SOUTH ASIA-Accrual; SUB-SAHARAN AFRICA-Accrual X X X X false false false false false false false true false DR JEFFREY CHEEK PRESIDENT & CHIEF EXECUTIVE OFFICER 345477 0 0 0 400 0 22169 0 16347 0 384393 0 0 0 MR CHRISTOPHER ASHLEY GENERAL COUNSEL AND SECRETARY 282983 0 0 0 0 0 26660 0 26058 0 335701 0 0 0 MS EMILY KUNCHALA CHIEF FINANCIAL OFFICER 243853 0 0 0 360 0 24671 0 42338 0 311222 0 0 0 MR RYAN P FARRELL INTERIM CHIEF FINANCIAL OFFICER 165805 0 0 0 400 0 15570 0 13119 0 194894 0 0 0 MR JOSHUA TOAS CHIEF COMPLIANCE OFFICER 214623 0 0 0 0 0 21387 0 29051 0 265061 0 0 0 MR DAVID MARCUS CIO, STONY BROOK FOUNDATION 425444 0 30000 0 0 0 21969 0 30866 0 508279 0 0 0 MS EILEEN M PEZZI VP FOR DEVELOPMENT, UPSTATE MEDICAL UNIV 308365 0 30000 0 0 0 27855 0 42004 0 408224 0 0 0 MS LORRAINE L MANZELLA ADMN DIR UPSTATE UNIV MED ASSOCIATION 293330 0 0 0 0 0 33335 0 14794 0 341459 0 0 0 MS DIANE FISCHER AVP FOR ACADEMIC BUDGET AND FINANCIAL PLANNING 283217 0 0 0 0 0 28367 0 1431 0 313015 0 0 0 MR DAVID ANDERSON PRESIDENT NY CREATES 284277 0 0 0 10 0 12072 0 13881 0 310240 0 0 0 Schedule J, Part I, Line 3 Compensation Of President THE PROCESS TO ESTABLISH THE RF PRESIDENT'S COMPENSATION IS DESCRIBED FURTHER IN SCHEDULE O. Schedule J, Part I, Line 7 NON-FIXED PAYMENTS NON-FIXED PAYMENTS (OTHER REPORTABLE COMPENSATION) INCLUDE PAYMENTS TO MS. EILLEEN PEZZI & MR. DAVID MARCUS FOR PERFORMANCE AWARDS. INDIVIDUAL INCENTIVES UNDER THE RF WELLNESS PROGRAM AND RECOGNITION AWARDS. Jennifer Sammakia Family Member of Board Member 123414 Employee Compensation false X RESEARCH RELATED EQUIPMENT 1 43035 Other - Quote for value provided by manufacturer of the system 0 false true false Form 990, Part I, Line 1 Mission MISSION OF THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK: A. TO ASSIST IN DEVELOPING AND INCREASING THE FACILITIES OF THE STATE UNIVERSITY OF NEW YORK TO PROVIDE MORE EXTENSIVE EDUCATIONAL OPPORTUNITIES FOR AND SERVICE TO ITS STUDENTS, FACULTY, STAFF AND ALUMNI, AND TO THE PEOPLE OF THE STATE OF NEW YORK, BY MAKING AND ENCOURAGING GIFTS, GRANTS, CONTRIBUTIONS AND DONATIONS OF REAL AND PERSONAL PROPERTY TO OR FOR THE BENEFIT OF THE STATE UNIVERSITY OF NEW YORK; B.TO RECEIVE, HOLD AND ADMINISTER GIFTS OR GRANTS, AND TO ACT WITHOUT PROFIT AS TRUSTEE OF EDUCATIONAL OR CHARITABLE TRUSTS, OF BENEFIT TO AND IN KEEPING WITH THE EDUCATIONAL PURPOSES AND OBJECTS OF THE STATE UNIVERSITY OF NEW YORK; AND C. TO FINANCE THE CONDUCT OF STUDIES AND RESEARCH IN ANY AND ALL FIELDS OF THE ARTS AND SCIENCES, OF BENEFIT TO AND IN KEEPING WITH THE EDUCATIONAL PURPOSES AND OBJECTS OF THE STATE UNIVERSITY OF NEW YORK. Form 990, Part III, Line 4a Program Service Accomplishments- Research THE RF PROVIDES SUNY FACULTY AND STAFF WITH ADMINISTRATIVE SUPPORT FOR RESEARCH GRANTS AND AWARDS THAT ARE FUNDED BY SPONSORS (FEDERAL AND STATE GOVERNMENTS, PRIVATE SECTOR COMPANIES AND NONPROFIT FOUNDATIONS). THE ADMINISTRATIVE SUPPORT INCLUDES SERVICES SUCH AS HIRING PERSONNEL NECESSARY TO CONDUCT THE RESEARCH, PURCHASING EQUIPMENT AND SUPPLIES, PREFUNDING EXPENSES PRIOR TO SPONSOR REIMBURSEMENT AND PROVIDING FINANCIAL REPORTS TO THE SPONSORS. THESE RESEARCH GRANTS AND AWARDS ENCOMPASS A WIDE RANGE OF DISCIPLINES INCLUDING IN LIFE SCIENCES AND MEDICINE; ENGINEERING AND NANOTECHNOLOGY; PHYSICAL SCIENCES AND ENERGY; SOCIAL SCIENCES, AND COMPUTER AND INFORMATION SCIENCES. THE RF SUPPORTED 6,000 RESEARCH GRANTS AND AWARDS THAT WERE CONDUCTED BY 2,500 FACULTY MEMBERS (PRINCIPAL INVESTIGATORS) DURING THE FISCAL YEAR ENDED JUNE 30, 2023. THIS YEAR, RESEARCH AT SUNY LED TO 211 INVENTION DISCLOSURES, 71 ISSUED U.S. PATENTS, 60 LICENSE AND OPTION AGREEMENTS EXECUTED, AND 255 PATENT APPLICATIONS FILED. AS OF JUNE 30, 2023 THERE WERE 148 STARTUPS IN OPERATION. Form 990, Part III, Line 4b Program Service Accomplishments- Public Service SUNY FACULTY AND STAFF CONDUCT VARIOUS PROGRAMS THAT BENEFIT LOCAL COMMUNITIES AND BEYOND SUCH AS PROVIDING WORKFORCE DEVELOPMENT SERVICES, EDUCATIONAL AND THERAPEUTIC SERVICES TO CHILDREN THROUGH EARLY INTERVENTION PROGRAMS AND COORDINATING SMALL BUSINESS DEVELOPMENT CENTER ACTIVITIES. FUNDING FOR THESE GRANTS AND PROGRAMS IS PROVIDED BY SPONSORS TO THE RF ON BEHALF OF SUNY. THE RF SUPPORTS THE FACULTY AND STAFF BY PERFORMING THE FOLLOWING ADMINISTRATIVE TASKS: HIRING PERSONNEL THE FACULTY NEEDED TO HELP CONDUCT THE PROGRAM, PURCHASING NECESSARY EQUIPMENT AND SUPPLIES AND REIMBURSING TRAVEL COSTS THAT ARE PROVIDED FOR BY THE GRANT, SUBMITTING FINANCIAL REPORTS REQUIRED BY THE SPONSORS, AND ENSURING COMPLIANCE WITH FEDERAL AND STATE REGULATIONS AND THE SPONSOR'S TERMS AND CONDITIONS. THE RF SUPPORTED 730 PUBLIC SERVICE GRANTS AND AWARDS THAT WERE CONDUCTED BY 330 PRINCIPAL INVESTIGATORS DURING THE FISCAL YEAR ENDED JUNE 30, 2023. Form 990, Part III, Line 4c Program Service Accomplishments- Training and Education SUNY FACULTY AND STAFF ARE AWARDED GRANTS AND CONTRACTS FOR TRAINING AND EDUCATION PROGRAMS THAT HELP BUILD SKILLS AND DISSEMINATE SUNY EXPERTISE. THE PROGRAMS ARE DESIGNED TO HELP PEOPLE OF ALL AGES IN NEW YORK STATE AND AROUND THE WORLD, SUCH AS TEACHERS AND HEALTH CARE WORKERS. THE RF PROVIDES ADMINISTRATIVE SERVICES THAT ALLOW SUNY FACULTY AND STAFF TO FOCUS ON THESE PROGRAMS. THESE ADMINISTRATIVE SERVICES INCLUDE: HIRING PERSONNEL TO HELP CONDUCT PROGRAMS, PURCHASING NECESSARY EQUIPMENT AND SUPPLIES AND REIMBURSING TRAVEL COSTS THAT ARE PROVIDED FOR BY THE GRANT, SUBMITTING FINANCIAL REPORTS REQUIRED BY THE SPONSOR, AND ENSURING COMPLIANCE WITH FEDERAL AND STATE REGULATIONS AND THE SPONSOR'S TERMS AND CONDITIONS. THE RF SUPPORTED 560 TRAINING AND EDUCATIONAL GRANTS AND AWARDS THAT WERE CONDUCTED BY 390 PRINCIPAL INVESTIGATORS DURING THE FISCAL YEAR ENDED JUNE 30, 2023. UNDER THE PROGRAM SERVICES INCLUDED ON LINES 4A THROUGH 4C, THE RF EMPLOYED APPROXIMATELY 10,800 INDIVIDUALS. Form 990, Part III, Line 4d Description of other program services (Expenses $ 262,728,956 including grants of $ 0)(Revenue $ 213,923,974) THE RF PROVIDES SERVICES TO CAMPUS-RELATED ORGANIZATIONS ACROSS 31 SUNY LOCATIONS AND TO RF AFFILIATES - SEPARATE, PRIVATE CORPORATIONS THAT SUPPORT CAMPUS GOALS TO CONDUCT COLLABORATIVE RESEARCH PROJECTS, EMPOWER SMALL BUSINESS INCUBATION, AND MANAGE AND DEVELOP REAL ESTATE. THE RF OFFERS HUMAN RESOURCES/PAYROLL AND PURCHASING/PAYABLES ADMINISTRATIVE SERVICES TO THESE ORGANIZATIONS. CAMPUS-RELATED ORGANIZATIONS ARE CREATED TO SUPPORT SUNY'S MISSION; EXAMPLES OF SUCH ORGANIZATIONS ARE CAMPUS FOUNDATIONS AND CLINICAL PRACTICE PLANS AT THE SUNY MEDICAL INSTITUTIONS. APPROXIMATELY 1,800 INDIVIDUALS WERE EMPLOYED BY THE RF FOR THESE PROGRAM SERVICES. THE RF ALSO ADMINISTERS GRANTS AND CONTRACTS SUCH AS SCHOLARSHIPS AND FELLOWSHIPS FOR SUNY STUDENTS THAT ARE FUNDED BY EXTERNAL SPONSORS AND ADMINISTERS PROGRAMS SUCH AS THE SUNY TECHNOLOGY ACCELERATOR FUND (TAF), WHICH ENABLES FACULTY INVENTORS AND SCIENTISTS TO DEMONSTRATE THAT THEIR PROMISING IDEAS HAVE COMMERCIAL POTENTIAL THROUGH FEASIBILITY STUDIES, PROTOTYPING, AND TESTING. THE REMAINING APPROXIMATELY 2,800 INDIVIDUALS EMPLOYED BY THE RF WERE MAINLY CORPORATE STAFF SUPPORTING THE PROGRAMS DESCRIBED IN LINES 4A THROUGH 4D. FOR MORE INFORMATION ABOUT THE RF GO TO WWW.RFSUNY.ORG. Form 990, Part VI, Line 2 Business and Family Relationships The following individuals are or were members of the RF Board during the tax year and were also employed by the State University of New York (SUNY): Directors McInnis, Megna, Sammakia, Stenger, Tripathi. These business relationships are not reportable on schedule L, nor did they give rise to transactions reportable on schedule L. Form 990, Part VI, Line 11b Review of form 990 by governing body THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE FORM 990 PRIOR TO SUBMISSION ACCORDING TO THE AUDIT COMMITTEE CHARTER. THE RF PROVIDED A COMPLETE COPY OF THE FINAL FORM 990 (INCLUDING ALL REQUIRED SCHEDULES) AS ULTIMATELY FILED WITH THE IRS, TO EACH PERSON WHO WAS A VOTING MEMBER OF THE GOVERNING BODY AT THE TIME THE FORM 990 WAS FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy THE RF MONITORS CONFLICTS OF INTEREST FOR DIRECTORS, OFFICERS AND KEY EMPLOYEES BY DOING AN ANNUAL CERTIFICATION OF BUSINESS AND FAMILY RELATIONSHIPS. ANY DIRECTORS WITH A RELATIONSHIP THAT MAY BE PERCEIVED AS CONSTITUTING A CONFLICT OF INTEREST WILL RECUSE HIM/HERSELF FROM THE VOTE ON THAT ISSUE. UNDER THE RF'S CONFLICT OF INTEREST POLICY AND MANAGEMENT OF CONFLICTS OF INTEREST PROCEDURE, IF A POTENTIAL CONFLICT IS IDENTIFIED, IT IS REVIEWED BY AN IMPARTIAL INDIVIDUAL OR GROUP WITH CONSULTATION AS NEEDED WITH THE CHIEF COMPLIANCE OFFICER. IF A CONFLICT IS DETERMINED TO EXIST, A MANAGEMENT PLAN IS PUT IN PLACE TO MITIGATE THE CONFLICT. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE PROCESS FOR DETERMINING THE COMPENSATION OF THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL, RF OFFICERS, KEY EMPLOYEES AND COMPENSATED DIRECTORS MEETS THE REBUTTABLE PRESUMPTION PROVISION UNDER TREAS. REG. §53.4958-6. THE RF BOARD HAS DESIGNATED THE EXECUTIVE COMMITTEE, MADE UP OF INDEPENDENT MEMBERS, TO ACT AS THE COMPENSATION COMMITTEE FOR THE RF ACCORDING TO THE EXECUTIVE COMMITTEE CHARTER. COMPENSATION FOR THE RF'S TOP MANAGEMENT OFFICIAL IS SET BY THE RF BOARD OF DIRECTORS AS PER THE RF'S EXECUTIVE COMPENSATION POLICY. THIS REVIEW OF REASONABLENESS IS BASED UPON APPROPRIATE BENCHMARKING DATA PROVIDED BY AN INDEPENDENT COMPENSATION CONSULTANT. THAT CONSULTANT WAS RETAINED BY THE EXECUTIVE COMMITTEE DURING THE TAX YEAR TO GATHER COMPARABLE LOCAL MARKET AND NATIONAL DATA TO CREATE BENCHMARKS FOR ALL OFFICER POSITIONS AND THE RF RETAINS CONTEMPORANEOUS DOCUMENTATION OF THE COMPENSATION REVIEW AND APPROVAL PROCESS IN ORDER TO CONFORM WITH THE TREASURY DEPARTMENT'S REBUTTABLE PRESUMPTION RULES UNDER TREAS. REG. §53.4958-6. Form 990, Part VI, Line 15b Process to establish compensation of other employees AS NOTED ABOVE THE PROCESS FOR DETERMINING THE COMPENSATION OF THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL, RF OFFICERS, KEY EMPLOYEES AND COMPENSATED DIRECTORS MEETS THE REBUTTABLE PRESUMPTION PROVISION UNDER TREAS. REG. §53.4958-6. THE RF BOARD HAS DESIGNATED THE EXECUTIVE COMMITTEE, MADE UP OF INDEPENDENT MEMBERS, TO ACT AS THE COMPENSATION COMMITTEE FOR THE RF ACCORDING TO THE EXECUTIVE COMMITTEE CHARTER. IN ADDITION TO THE RF PRESIDENT, OTHER RF OFFICERS LISTED IN PART VII ARE ALSO RF EMPLOYEES AND THEREFORE SUBJECT TO THE RF'S EXECUTIVE COMPENSATION POLICY. THAT POLICY STATES, "COMPENSATION OF OTHER RF OFFICERS WILL BE SET BY THE RF PRESIDENT AND WILL BE REVIEWED FOR REASONABLENESS BY THE RF BOARD OF DIRECTORS IN ACCORDANCE WITH THE PROCEDURE FOR REVIEWING EXECUTIVE COMPENSATION." THIS REVIEW OF REASONABLENESS IS BASED UPON APPROPRIATE BENCHMARKING DATA PROVIDED BY AN INDEPENDENT COMPENSATION CONSULTANT. THAT CONSULTANT WAS RETAINED BY THE EXECUTIVE COMMITTEE DURING THE TAX YEAR TO GATHER COMPARABLE LOCAL MARKET AND NATIONAL DATA TO CREATE BENCHMARKS FOR ALL OFFICER POSITIONS AND THE RF RETAINS CONTEMPORANEOUS DOCUMENTATION OF THE COMPENSATION REVIEW AND APPROVAL PROCESS IN ORDER TO CONFORM WITH THE TREASURY DEPARTMENT'S REBUTTABLE PRESUMPTION RULES UNDER TREAS. REG. §53.4958-6. Form 990, Part VI, Line 19 Required documents available to the public THE RESEARCH FOUNDATION CHARTER, THE 1977 AGREEMENT WITH THE STATE UNIVERSITY OF NEW YORK, THE CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE ALL AVAILABLE ON THE RF'S PUBLIC WEB SITE AT WWW.RFSUNY.ORG. Form 990, Part VII, Section A, Line 1a Compensation of Directors, Officers, et. al. COMPENSATION IS PAID TO DIRECTORS WHO ARE ALSO FACULTY MEMBERS, CAMPUS PRESIDENTS, OR WHO HAVE OTHER ADMINISTRATIVE ROLES UNRELATED TO THEIR ACTIVITIES AS MEMBERS OF THE BOARD OF DIRECTORS; SUCH COMPENSATION IS RELATED TO THEIR ROLE AS PRINCIPAL INVESTIGATORS, RESEARCH SCIENTISTS, OR AS CAMPUS ADMINISTRATORS. DURING THE TAX YEAR, THE RF PAID DIRECT COMPENSATION TO DIRECTOR STENGER FOR SERVICES PROVIDED IN ADMINISTRATIVE ROLES. THE RF PAID AN UNRELATED TAX-EXEMPT ENTITY $134,868 TOWARD SALARY SUPPLEMENTATION TO BE MADE TO DR. SATISH TRIPATHI, MEMBER OF THE RF BOARD DURING 2022 FOR SERVICES RENDERED TO SUNY IN HIS CAPACITY AS PRESIDENT OF A SUNY CAMPUS. REVIEW AND DOCUMENTATION OF DIRECTOR TRIPATHI'S SALARY APPROVAL PROCESS IS MANAGED BY THE STATE UNIVERSITY OF NEW YORK. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue ALL OTHER REVENUE - Total Revenue: 8693974, Related or Exempt Function Revenue: 8693974, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances LOSS ON INTEREST RATE SWAP - 144751; POST-RETIREMENT CHANGE IN NET ASSETS - 20470463; Schedule F, Part V THE RF IS NOT A GRANTMAKER, AND WHILE IT DOES NOT MAKE GRANTS TO FOREIGN ORGANIZATIONS OR TO FOREIGN INDIVIDUALS, IT DOES ADMINISTER GRANTS, CONTRACTS AND OTHER SPONSORED PROGRAMS FUNDED BY OTHERS, INCLUDING GRANTS WITH ACTIVITY IN FOREIGN COUNTRIES. THE RF COMPLIES WITH SPONSOR REQUIREMENTS AS WELL AS OMB UNIFORM GUIDANCE IN ITS COSTING, ADMINISTRATION, AND RECORD-KEEPING PRACTICES INCLUDING RECORDS OF ALL DISBURSEMENTS AND REPORTS ON THE USAGE OF THE SPONSORS' FUNDS. RESEARCH FOUNDATION POST-RETIREMENT BENEFITS PLAN PO BOX 9 ALBANY NY 12201 800412424 BENEFITS NY 501(c)(9) RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK true N/A false false false false false false false false false false false true false false false false true true false RF POST-RETIREMENT BENEFITS PLAN Q 14572970 CASH RF POST-RETIREMENT BENEFITS PLAN R 5988637 CASH RESEARCH FOUNDATION POST-RETIREMENT BENEFITS PLAN THE RELATED ORGANIZATION, "RESEARCH FOUNDATION POST-RETIREMENT BENEFITS PLAN," EIN 80-0412424, IS A SECTION 501(C)(9) VOLUNTARY EMPLOYEE BENEFITS ASSOCIATION (VEBA) TRUST THAT HAS BEEN ESTABLISHED TO PROVIDE POST-RETIREMENT BENEFITS TO ELIGIBLE PARTICIPANTS. THE FILING ORGANIZATION IS THE CONTRIBUTING EMPLOYER AND SPONSORING ORGANIZATION FOR THIS VEBA TRUST. THE TRANSACTIONS LISTED IN SCHEDULE R, PART V, INCLUDE GOVERNANCE PROVIDED BY THE FILING ORGANIZATION OVER THE VEBA'S TRUSTEE (LINE 1L), REIMBURSEMENTS MADE BY THE VEBA TRUST FOR BENEFITS PAID BY THE FILING ORGANIZATION (LINE 1Q) AND THE FILING ORGANIZATION'S FUNDING OF THE ASSETS IN THE VEBA TRUST (LINE 1R).