Research Foundation of the City University of New York
94% goes to programs $0 to raise $100 Growing revenue
Research Foundation of the City University of New York is a 501(c)(3) organization based in New York, New York, registered in 1982, with $673,014,824 in FY2023 revenue. CharityIndex grades it A+, and it directs about 94% of spending to programs.
230 W 41st Street 7th Floor, New York, NY, 10036 EIN 13-1988190 Since 1982
Revenue (FY2023)
$673.0M
▲ 12.1% vs prior year
Education median: $200K
Expenses (FY2023)
$665.3M
Net assets
$170.3M
Employees
14,410
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating94% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Research Foundation of the City University of New York: 94% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating3 mo reserves · +1% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Research Foundation of the City University of New York: 3 mo reserves · +1% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Research Foundation of the City University of New York: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Research Foundation of the City University of New York: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Provide support to cuny faculty and staff in identifying and obtaining external support (pre-award) from government and private sponsors and is responsible for the administration of all such funded programs (post-award).
What they do
Other sponsored activity - programs and projects funded by federal and non-federal agencies and organizations that involve the performance of work or activities that are not considered instruction and organized research that benefit the general public or sectors of the community. osa typically include community outreach or development of public education programs.
Instruction/training - includes all sponsored teaching and training activities, except for research training, of an institution whether offered for credit toward a degree or certificate, on a non-credit basis, or through regular academic departments or by separate divisions, such as summer session.
Other institutional activity - when activities are undertaken by the institution without outside support, they may be classified as other institutional activities. oia typically includes auxiliary enterprises in support of activities which include: student unions, dining halls, athletics, residence halls, theatres, etc.
Contact & location
- Address
- 230 W 41st Street 7th Floor, New York, NY, 10036
- City
- New York
- State
- New York
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $453.3M (FY2013) to $673.0M (FY2023) across 10 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $482.0MNet assets $170.3M
Operating margin
1.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$652.3M
Total liabilities
$482.0M
Net assets
$170.3M
Salaries & benefits
$375.8M
56% of expenses
Board members
17
17 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $673,014,824▲12.1% | $665,311,047▲12.2% | $170,277,080▲24.4% | $652,289,162▲12.3% | 990 |
| 2022 | $600,333,510▲15.8% | $592,838,098▲15.2% | $136,866,216▲31.0% | $580,593,127▲13.3% | 990 |
| 2021 | $518,290,887▲3.3% | $514,798,703▲3.2% | $104,450,729▲31.1% | $512,515,904▲16.7% | 990 |
| 2020 | $501,643,850▼8.4% | $498,715,234▼8.2% | $79,686,511▲32.4% | $439,317,076▲4.0% | 990 |
| 2019 | $547,502,335▼2.2% | $543,321,202▼1.5% | $60,198,377▲11.2% | $422,222,226▲1.7% | 990 |
| 2018 | $560,096,585▲2.1% | $551,354,612▲1.1% | $54,158,320▲55.7% | $415,139,478▲17.2% | 990 |
| 2016 | $548,776,164▲10.3% | $545,140,034▲9.9% | $34,777,813▲9.5% | $354,356,591▲6.1% | 990 |
| 2015 | $497,500,307▲6.4% | $495,897,006▲6.5% | $31,763,313▲5.3% | $333,846,011▲6.1% | 990 |
| 2014 | $467,713,718▲3.2% | $465,774,071▲3.1% | $30,161,168▲3.0% | $314,746,124▲3.2% | 990 |
| 2013 | $453,260,541 | $451,952,883▲0.5% | $29,291,601▲66.8% | $305,113,334▲7.9% | 990 |
| 2012 | — | $449,824,891▲0.2% | $17,557,129▲296% | $282,760,129▼0.9% | 990 |
| 2011 | — | $448,930,039▲1.2% | -$8,943,274▼186% | $285,371,545▲4.2% | 990 |
| 2010 | — | $443,737,421▲2.2% | -$3,127,981▲89.1% | $273,865,021▼1.5% | 990 |
| 2009 | — | $434,027,060 | -$28,591,133 | $277,995,459 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Jerry F Steele — $357,538 (0.05% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Jerry F Steele | Former Chief Operating Officer | 35 | $357,538 |
| Hector R Cordero-guzman | President | 35 | $320,389 |
| Doliski A Mozeleski | Associate Grants Director - City College | 35 | $284,864 |
| Marc V Shaw | Cuny Project Director | 35 | $273,541 |
| Karen Goldstein | Senior Associate Counsel | 35 | $258,108 |
| Lisa M Destefano | Director of Research Policy and Indirect Cost - Thru 9/2023 | 35 | $253,761 |
| Gavita D Harris | Chief Financial Officer | 35 | $229,991 |
| Jacek Olszewski | Chief Information Officer | 35 | $224,092 |
| Sarah G Kulkarni | Project Director | 35 | $223,346 |
| Annette C Piecora | Chief Human Resources Officer - As of 11/20/2023 | 35 | $222,428 |
| Matthew R Drost | Chief Counsel & Secretary | 35 | $210,739 |
| Kyung Hur | Interim Chief Operating Officer - 07/2023 Thru 09/2023 | 35 | $167,857 |
| Elizabeth Verostek | Chief Operating Officer - 09/2023 Thru 02/2024 | 35 | $59,193 |
| Xiaole Jiang | Board Member - Grad Student | 0.2 | $30,518 |
| Abel Valenzuela Jr | Board Member | 0.2 | — |
| Ayman El-mohandes | Board Member | 0.2 | — |
| Chauncy H Lennon | Board Member | 0.2 | — |
| David Jeruzalmi | Board Member | 0.2 | — |
| Felix Matos Rodriguez | Chairperson | 0.3 | — |
| Joshua Brumberg | Vice Chair- As of 10/02/23 | 0.2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Cayuse Holdings LLC | Consultants | $943,158 |
| Blackfly Investments LLC DBA Molecular Testing Labs | Consultants | $604,993 |
| Nixon Peabody LLP | Legal | $260,165 |
| Qualtrics LLC | Consultants | $248,586 |
| Grant Thornton LLP | Audit Services | $214,700 |
Grants received · $167.9M total
489 grants to Research Foundation of the City University of New York totaling $167.9M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Foundation For City College | Sponsorship | 2024 | $11,767,074 |
| Hunter College Foundation Inc | To support research, faculty and program administration | 2024 | $715,147 |
| Ecmc Foundation | General support | 2024 | $516,450 |
| Ayco Charitable Foundation | Education | 2024 | $500,000 |
| Robin Hood Foundation | Poverty relief | 2024 | $465,000 |
| Silicon Valley Community Foundation | Education | 2024 | $399,994 |
| The New York Community Trust | For program support. | 2024 | $315,000 |
| Robin Hood Foundation | Poverty relief | 2024 | $300,000 |
| New Venture Fund | Technology and innovation | 2024 | $270,000 |
| The New York Community Trust | For program support. | 2024 | $200,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2024 | $200,000 |
| The New York Community Trust | For program support. | 2024 | $200,000 |
| Educational Credit Management Corporation | Fafsa student support | 2024 | $175,000 |
| Child Mind Institute Inc | Research subaward | 2024 | $165,838 |
| The New York Community Trust | For program support. | 2024 | $150,000 |
Grants made · $54.8M in FY2023
260 grants totaling $54.8M in FY2023 — showing the 15 largest. All grants made by Research Foundation of the City University of New York →
| Recipient | Purpose | Amount |
|---|---|---|
| H E L P USA Inc | Research | $2,275,650 |
| Mtx Group Inc | Research | $2,114,579 |
| Trustees of Columbia University | Research | $1,945,211 |
| Catholic Charities Community Services Archdiocese of New York | Research | $1,564,972 |
| Animation Project Inc | Research | $1,278,634 |
| Behavioral Ideas Lab Inc | Research | $1,148,658 |
| Justice Innovation Inc | Research | $1,092,987 |
| Hunger Free America Inc | Research | $1,091,708 |
| Mathematica Policy Researchinc | Research | $1,014,658 |
| New York University | Research | $1,009,015 |
| Icahn School of Medicine At Mount Sinai | Research | $889,204 |
| New York Immigration Coalition Inc | Research | $870,025 |
| New York University | Research | $734,175 |
| Nyc Dept of Health & Mental Hygiene | Research | $730,614 |
| Imagine Early Learning Centers LLC | Research | $699,271 |
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Frequently asked questions
- Is Research Foundation of the City University of New York a legitimate nonprofit?
- Yes. Research Foundation of the City University of New York is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 13-1988190, based in New York, New York. Donations are tax-deductible.
- What is Research Foundation of the City University of New York's EIN?
- Research Foundation of the City University of New York's Employer Identification Number (EIN) is 13-1988190.
- How much revenue does Research Foundation of the City University of New York report?
- Research Foundation of the City University of New York reported $673,014,824 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Research Foundation of the City University of New York's spending goes to programs?
- Research Foundation of the City University of New York spends about 94% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Research Foundation of the City University of New York have?
- CharityIndex grades Research Foundation of the City University of New York A+, based on program efficiency and fundraising cost.
- How much does Research Foundation of the City University of New York's highest-paid employee make?
- The highest reported compensation on Research Foundation of the City University of New York's latest Form 990 is $357,538, paid to Jerry F Steele (Former Chief Operating Officer).
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Data for Research Foundation of the City University of New York (EIN 13-1988190) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.