2010 Annual Report - Farmingdale State College

2010
A n n ua l R e p o r t
Farmingdale
C o l l e g e F o u n dat i o n
2010
F ar m i n g d a l e C o l l e g e F o u n d a t i o n
A n n ua l R e p o r t
Table
of
C ontents
Greetings From the President of Farmingdale College Foundation............................ 2
Message From the President of Farmingdale State College........................................ 3
Mission Statement...................................................................................................... 4
Foundation Board of Directors................................................................................... 5
Foundation Events
23rd Annual Tech Island Golf Classic................................................................. 6
Honoree: John F. Collins,
President & CEO, Winthrop-University Hospital
2009 Annual Business Hall of Fame Gala........................................................... 8
Honoree: 110 Sand Company
Annual Scholarship Awards............................................................................. 10
Garden Festival................................................................................................. 12
Honor Roll of Faculty & Staff Donors.......................................................................17
Honor Roll of External Donors................................................................................ 19
Independent Auditor’s Report
Statement of Financial Position – June 30, 2010............................................... 23
Statement of Activities – June 30, 2010............................................................ 24
Statement of Cash Flows – June 30, 2010.......................................................... 25
Notes to Financial Statements
Year Ended June 30, 2010.................................................................................. 26
G reetings F rom
the
P resident
of
Farmingdale C ollege Foundation
Thank you for taking the time to let me share with you the results of our 2009-2010 fiscal year activities,
my second as President of the Farmingdale College Foundation.
Our active Board of Directors, comprised of prominent area business leaders from across the Long
Island region, has helped me create an exciting vision for the long term growth of our 501(c)(3)
not-for-profit Foundation to provide student scholarships as well as faculty and staff support not
otherwise funded by New York State or through tuition. Despite the economic downturn, we achieved
record income due to our Board’s enthusiastic and dedicated involvement. Thanks to the assistance
of Farmingdale State College President, Dr. W. Hubert Keen, and his Office of Development, led
by Dr. Henry Sikorski, along with key staff members, Charlene Russert, Joan Urbanowski, and Jane
Massimino, we exceeded our record of last year.
As always, the granting of the scholarships presented to students during this past year was a top priority.
This year we were pleased to award two new scholarships: the Farmingdale Student Government
Scholarship, and the Bioscience Undergraduate Research Scholarship. Below is a sampling of other
scholarships awarded:
110 Sand Company Scholarship
Estée Lauder Companies Scholarships
n OSI Pharmaceuticals Scholarships
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In addition, faculty and staff enrichment programs included:
Artists & Lecturers Programs
Writing in the Disciplines Program
n Green Energy Symposium
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Importantly, this year we managed to top last year’s success. Our three major annual fundraising events,
the Business Hall of Fame Gala, Tech Island Golf Classic, and Horticulture Committee Garden Party,
were very successful. Support garnered from both the corporate and private sectors through our Major
Gifts Campaign increased, and we look forward to future opportunities to further enhance private/
public partnerships that support Farmingdale State College.
As always, the Board continues to make prudent fiscal management decisions for investments and grant
approvals – all the while maintaining steadfast compliance with our legal, ethical, and moral responsibilities.
Your support and endeavors allow us to continue to implement our vision for the College. Once again,
I ask you to contact me or the Office of Development in Horton Hall on the College campus to learn
more about ways to support the Foundation as we help Farmingdale State College continue its growth
as one of the region’s leading academic institutions.
Best personal regards,
Richard S. Overton, President
Farmingdale College Foundation
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M essage
from the
P resident
of
Farmingdale State C ollege
I have observed during my almost four years at Farmingdale the margin of difference in our
institutional accomplishments that is made possible in no small part to the support received from
private and non-state sources. The Farmingdale College Foundation is our most important partner
in raising funds from private sources. Our mission – continued excellence in teaching, learning,
scholarship, research, and public service – is greatly enhanced by our many supporters.
Major physical plant and grounds projects are underway that will bring great improvement to the
facilities and raise the aesthetic appeal of the campus. The roadways, parking lots, and grounds are
receiving a major upgrade. The Library is being reconfigured to create an “Information Commons,” a
modern center with state-of-the-art technology. The Hale Hall renovation is scheduled for completion
in 2011, ground will be broken this fall for construction of the Campus Center, and plans for the
School of Business building will be completed this academic year.
Farmingdale State’s highest goal is to assure that an excellent education is continually available to our
almost 7,000 students. In 2010, the College once again received over 10,000 applications for admission,
while admission requirements, already the highest in our 100-year history, continue to increase.
During the 2009-2010 year, the Foundation attained a record level of contributed support to the campus
exceeding, once again, the prior year’s level. This support enabled us to provide:
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Scholarships for exemplary students
Faculty development opportunities not available through state funds
State-of-the-art facilities and technology to enhance the
teaching/learning experience.
We are currently planning the celebration in 2012 of Farmingdale State’s Centennial. The continuing
advancement in the quality of our academic programs, and the completion of ongoing projects leading
up to the Centennial, will be milestones in the College’s evolution. The Foundation continues to be a
key partner in enabling Farmingdale State College to continue the extraordinary growth and advances
that are underway.
Thank you for helping Farmingdale State College fulfill its mission!
W. Hubert Keen, PhD, President
Farmingdale State College
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O ur M ission
Farmingdale State College is a coeducational, public college with more than 7,000 undergraduate students. The College is dedicated to
educating students in the areas of business, applied arts and sciences, health sciences, and engineering technology. A rich history of over
80,000 graduates makes Farmingdale State a college with a legacy of excellence. Farmingdale State students enjoy small, personalized classes
with exceptional faculty members who provide individual attention. Students are prepared for successful futures via real life applications of
knowledge, critical thinking, and a sound liberal arts education which help them pursue rewarding and successful careers with many of the
region’s most prestigious companies. Farmingdale State is dedicated to changing lives and building futures.
Farmingdale College Foundation’s mission is:
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To encourage, solicit, accept and hold gifts made to it in the form of money, stocks, bonds, lands and any other type of property,
either real or personal, and to manage such property and collect the income therefrom and disburse the same only for the purpose of
advancing the educational purposes, welfare, and development of Farmingdale State College;
To render such financial assistance to the students, faculty, and administration of the said college pursuant to the educational
purposes of the Foundation, and as shall be consistent with the purpose and policies of Farmingdale State College; and
To receive and hold, and to manage and administer such property as may be received by the Foundation, and to use and apply all
as part of the income or savings therefrom as well as the principal thereof exclusively for cultural, scientific, literary or educational
purposes, either directly or by contributions to organizations which are organized and authorized to carry out such activities; provided,
however, that said organizations qualify as an exempt organization under section 501(c)(3) of the Internal Revenue Code and its
regulations as they now exist or as they may hereafter be amended.
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Farmingdale C ollege Foundation B oard
OFFICERS
President
1st Vice President
2nd Vice President
Overton Operations Advisors, Ltd.
Senior Vice President
Human Resources
Winthrop-University Hospital
Senior Vice President
Brokerage Services
CB Richard Ellis
Richard S. Overton
Treasurer
George P. LaRosa
Senior Vice President & CFO,
Farmingdale State College
George P. Rainer
Robert C. Godfrey
Secretary
Henry Sikorski, Ph.D.
Chief Development Officer,
Farmingdale State College
MEMBERS
Linda Amper, Ph.D.
Christopher J. Kutner
Michael O’Rourke
Michael J. Liguori
Robert Reed, Esq.
Thomas W. Bogue
Jonathan Marcus
Theresa Santmann
East Coast Power, LLC
Vice President, The Marcus Organization
Richard A. Catalano
Judith McEvoy
Sr. VP, Human Resources
OSI Pharmaceuticals, Inc.
Michael Bender
CEO, Bana Electric Corp.
Partner, KPMG, LLP
Wayne N. Grossé
COO, Bethpage Federal Credit Union
W. Hubert Keen, Ph.D.
President, Farmingdale State College
Jonathan D. Klein
Jomar Management Consultants
Partner, Farrell, Fritz, P.C.
Chase Bank
President, Alumni Association,
Farmingdale State College
Patricia M. McMahon
Vice President and Deputy
Battle Management &
Engagement Systems Division
Northrop Grumman Corp.
President, Best Climate Control Corp.
President of New Island Hospital (retired)
Owner, Little Flower for Rehabilitation & Nursing
Fred Skolnik
Partner, Certilman Balin Adler
& Hyman, LLP, Attorneys
Brendan Sullivan
Executive Director, Estée Lauder Companies Inc.
Robert L. Van Nostrand
Aureon Laboratories, Inc.
John J. Molloy
President & CEO, H2M Group
HONORARY MEMBERS
Maria T. Cinque
Cinque Associates, Ltd.
William Duffy
International Union of Operating
Engineers, Local 138
Robert Ench
Hopewell Nursery
Kathleen Gallo, RN, MBA, Ph.D.
Sr. VP & Chief Learning Officer
North Shore/LIJ Health System
Carolynn Lucca
Michael J. Posillico
Posillico
Horst K. Saalbach
H&E Consulting
Signature Bank
Gary Melius
Owner, Oheka Castle
Bart H. Friedman, CPA, PC
Marcum LLP
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Farmingdale C ollege Foundation Events
23rd Annual Tech Island Golf Classic
The Foundation hosted its annual golf outing on Monday, June 28, 2010, at the Cold Spring Country Club in Huntington, New York, and
raised over $131,000. John F. Collins, President & CEO of Winthrop-University Hospital, served as honoree.
Winthrop-University Hospital is a 591-bed university-affiliated medical center with a state-of-the-art environment rich in medical education
and research programs located in Mineola, New York.
Mr. Collins is active in several professional organizations, including the American College of Healthcare Professionals (ACHE), the New York
State Society of CPAs, and the American Institute of Certified Public Accountants (AICPA). He is a member of the Finance Committees for
the Healthcare Association of New York State (HANYS) and the Greater New York Hospital Association (GNYHA), is a past president of the
Healthcare Financial Management Association (HFMA) Metropolitan New York Chapter, and past Chairman of the Nassau-Suffolk Hospital
Council Committee on Finance. He has been honored several times by the Healthcare Financial Management Association. Mr. Collins holds
a bachelor’s degree in accounting from Queens College, and is a Certified Public Accountant. He resides in Huntington, New York with his
wife and three children.
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23rd Annual Tech Island Golf Classic (Cold Spring Country Club)
Honoree: John F. Collins, President & CEO of Winthrop-University Hospital
Center Photo: L-R, Hubert Keen, John Collins, Richard Overton and ­George Rainer
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Farmingdale C ollege Foundation Events (continued)
2009 Business Hall of Fame Gala
The Foundation held its primary fundraiser on November 12, 2009 at Oheka Castle in Huntington, New York, and raised over $200,000. Our
honoree for the event was the 110 Sand Company.
For three decades, 110 Sand Company has played an integral role in building Long Island. High-quality sand and gravel provided by the
company from its Melville location has been used in the construction and improvement of roads, bridges, schools, houses, stores, and office
buildings throughout Nassau and Suffolk Counties, and New York City.
Long Island has always been known for its high quality sand and gravel, which were left behind by retreating glaciers some 20,000 years ago.
Sand from Long Island is especially sought after for construction because it is has an excellent mixture of grain sizes and shapes. 110 Sand
Company’s founder, Farmingdale-native Chester Broman, recognized this fact when he opened the company in 1980. Mr. Broman is a highly
respected entrepreneur known for his leadership in the business community and his charitable commitment.
In the 1980s, 110 Sand became a leader in “green” practices when it began recycling concrete to be re-used as sub-base for roads, parking lots,
and other paved surfaces. Today its concrete-reduction operation makes it possible to reclaim significant amounts of usable materials from
demolition debris, and thus preserve our natural resources. 110 Sand Company continues to be an industry leader that works closely with
environmental regulators as part of regional land reclamation efforts.
110 Sand is a significant contributor to the local economy and an important employer. Its union labor workforce includes Laborers International
Union Local 1298, and the International Union of Operating Engineers Local 138. The skill and hard work of these professionals plays an
integral role in the success of 110 Sand.
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2009 Business Hall of Fame Gala (Oheka Castle)
Honoree: 110 Sand Company
Center Photo: L-R, Hubert Keen, Richard Overton, Chester Broman, Jason Golden
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Farmingdale C ollege Foundation Events (continued)
Annual Scholarship Awards
The Farmingdale Foundation Annual Scholarship Reception was held on Wednesday, March 24, 2010. Students of Farmingdale State were
recognized for their outstanding academic achievements, and many of the sponsors providing individual and corporate scholarship support were
on hand to make presentations to our student scholars. Awards and recipients included:
100 Black Women Scholarship – Faustine Chukwuezi, Criminal Justice – Law Enforcement
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100 Black Men Scholarship – Travis Gardner, Electrical Engineering Technology
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110 Sand Company Scholarship – Yvette Gardner, Bioscience
ASQ Hall of Fame Scholarship – Remigio J. Castaldini, Aeronautical Science – Professional Pilot, Nicholas Forte, Computer Engineering
Technology and Electrical Engineering Technology
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Bioscience Undergraduate Research Scholarship – Cyrus C. Digiacomo, Jr., Bioscience
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Professor Eduardo Braithwaite ESL Award – Ruta Meleskina, Maritza Vargas
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Gladys Brooks Foundation Scholarship – Ilze Emily Stankiewicz, Nursing
Campus Fund Scholarship – Alan Benavides, Mechanical Engineering Technology, Lauren Fitzpatrick, Nursing, Andrew Glaser,
Architectural Engineering Technology, Jennings Gyedu, Bioscience, Andrew Hubert, Mechanical Engineering Technology, Jack Italiano,
Biology, Jessica Scanlon, Nursing, Tahji Smith, Criminal Justice – Law Enforcement
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Carol’s Cause Scholarship – Amy Olenick, Nursing
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Catherine Sheridan Bucaria Scholarship – Guethy Ledan, Nursing
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Cheryl R. Canton Incentive/Willie H. Riddick Memorial Award – Jamie Williams, Nursing
Loretta Chiarenza Memorial Scholarship – Amy Bortzfield, Horticultural Technology, Christopher A. Planzo, Computer Programming &
Information Systems
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Betsy Smith Cronin Memorial Scholarship – Lauren Marie Ronzitti, Dental Hygiene
Dante Foundation Scholarship – Giuseppa Aliperti, Liberal Arts & Sciences
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Dr. Frank DelBene Memorial Scholarship – James Marzigliano, Business Management
Frank Elkins Memorial Award – Christopher DiMaio, Bioscience, Lawrence Hipp, Security Systems, Mary O’Neil, Nursing, Remigio John
Castaldini, Aeronautical Science – Professional Pilot, Tamara St. Preux, Bioscience
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Estée Lauder Corporation Scholarship – Jaclyn Fortel, Medical Laboratory Technology, Afrinash Khan, Medical Laboratory Technology,
Neda Shahrabi, Bioscience
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Farmingdale Student Government Aviation Scholarship – Remigio John Castaldini, Aeronautical Science – Professional Pilot, Andrew
Thomas Medina, Aeronautical Science – Professional Pilot
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Farmingdale Student Government Scholarship – Christopher DiMaio, Bioscience, Jennings Gyedu, Bioscience
Candace Ferin Scholarship – Tatiana Laimit, Nursing
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Forest Laboratories, Inc. Scholarship – Steve Henson, Industrial Technology – Facility Management Technology
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John Gargano Memorial Scholarship – Andrew Glaser, Architectural Engineering Technology
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J. Frederick Gibralter Memorial Scholarship – Ryan McAllister, Business Management
Golden Key Scholarship – Synthia Suzanne Gratia, Bioscience, Justine Arline Rothar, Bioscience, Christopher Wallace, Applied Mathematics
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IEEE-LISAT and Farmingdale College Foundation Scholarship – Amana Alam, Applied Psychology, Steeve Bissereth, Electrical
Engineering Technology & Computer Engineering Technology, Daniel Ford, Electrical Engineering Technology, Michael Forte, Electrical
Engineering Technology & Computer Engineering Technology, Christopher Salemi, Computer Programming & Information Systems,
William Titus, Electrical Engineering Technology, Gino Vargas, Electrical Engineering Technology
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Home Depot Scholarship – Thomas Posillico, Horticultural Technology Management
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Lillian Keily Memorial Scholarship – Theresa Dember-Neal, Nursing, Janet Michelle Dunleavy, Nursing, Terri J. Hormann, Nursing,
Allison McCrink, Nursing, Colleen Mohlenhoff, Nursing, Rachel Newman, Nursing, Mary O’Neil, Nursing, Jeffrey A. Rosenthal, Nursing
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Charles Laffin Memorial Endowed Scholarship – Marylin Besong, Bioscience, Travis Pearson, Bioscience
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Joseph Lindner Memorial Scholarship – Elizabeth Rodriguez, Management Technology
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Patricia Maguire Memorial Scholarship – Lauren Knaffo, Professional Communications
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YS Assembly Session Internship Scholarship – Christopher S. Lucko, Business Management, Patricia J. Macaluso, Business Management,
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Patricia M. Polenz, Technology Studies, Peter E. Scarabelli, Business Management
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SI Pharmaceuticals Scholarship – Kathryn Blecher, Bioscience, Stephen Borrelli, Bioscience, Lulu Feng, Bioscience, Candace Kelm,
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Bioscience, Veronica Miranda, Bioscience, Julie A. Morrison, Bioscience
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Phi Theta Kappa Scholarship – Jennifer Cappello-Ruggiero, Ornamental Horticulture-Landscape Development, Rachel L. Csala, Nursing,
Andrew Rosen, Criminal Justice – Law Enforcement
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Joseph D. Posillico, Jr. Memorial Scholarship – Wayfrel Puello, Construction Management Engineering Technology
Joseph D. Posillico, Sr. Memorial Scholarship – Andrew Glaser, Architectural Engineering Technology and Construction Management
Engineering Technology
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Presidential Scholarship – Matthew Bradica, Liberal Arts & Sciences, Kristina Caruso, Liberal Arts & Sciences, Erica Csorba, Nursing,
Joseph Ford IV, Aviation Administration, Andrew Hubert, Mechanical Engineering Technology, Jesse Jacobs, Business Management, Anna
Klestov, Business Management, Kenneth Mawhirt, Nursing, Rhiannon X. Metas, Bioscience, Frankie Montgoris, Business Management,
Kevin Onorato, Electrical Engineering Technology, Daniel R. Raymond, Aeronautical Science – Professional Pilot, Dina Roach, Liberal
Arts & Sciences, Bruce Roozdar, Business Management, Michael Vega, Electrical Engineering Technology
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Matthew Rehl Memorial Scholarship – Joseph Alessi, Aeronautical Science – Professional Pilot
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Louis J. Riso Memorial Scholarship – Gerald P. Kenna, Business Management
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Dr. Horst Saalbach Scholarship – Mercy Reyes, Manufacturing Engineering Technology
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Charles O. Schmidt Memorial Scholarship – Alan Benavides, Mechanical Engineering Technology
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Charlotte Schwenk Award – Rachael Rose Leone, Horticultural Technology Management
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Robert Simeone Memorial Scholarship – Steve Bissereth, Electrical Engineering Technology
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Raymond Von Deesten Memorial Scholarship – Piotr Biedrzycki, Architectural Engineering Technology
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Wall of Honor Scholarship – Joseph Alessi, Aeronautical Science – Professional Pilot, Justine Beecher, Dental Hygiene, Christopher
DiMaio, Bioscience, Rafal Jurkowski, Visual Communication: Art & Graphic Design, Andre McKenzie, Computer Engineering Technology,
Michael Ninivaggi, Applied Mathematics
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Father Edward Werring Memorial Scholarship – Andrew Jerome Klein, Undeclared Major, Robert McKibbon, Undeclared Major
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Herbert Zipper Memorial Scholarship – Nicholas Forte, Computer Engineering Technology and Electrical Engineering Technology
Over $127,000 was awarded to Farmingdale State College students in 2009-2010.
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Farmingdale C ollege Foundation Events (continued)
2010 Garden Festival
The Garden Festival was held in the magnificent Horticultural Teaching Gardens on Saturday and Sunday, June 5 and 6, 2010.
The festival, sponsored by the Farmingdale Horticulture Committee of the Farmingdale College Foundation, had lots to offer those thousands
of people from Long Island who were in attendance. The major corporate sponsor of the event was The Scotts Miracle-Gro Company. Other
corporate sponsors included Bartlett Tree Experts, Gutter Helmet, and The Home Depot. Long Island Pulse magazine and the New York
Landscape Contractor were media sponsors.
Plants were donated by many generous nurseries on Long Island. Lecture tents were filled with home gardeners wanting to learn the latest in
gardening techniques, and Farmingdale State professors, Cornell Cooperative Extension Educators, Master Gardeners, and Green Industry
Professionals made presentations.
Dr. Richard Iversen, curator of the gardens and professor of horticulture, conducted tours of the fabulous teaching gardens. Professor Paul
Fogelberg provided advice to attendees as to how they could re-landscape their property.
Music was donated by Farmingdale Professor Dr. Wayne Krush; his band – The Lonesome Moonlight String Band – provided bluegrass music
during the Festival.
Proceeds from the event are used to benefit excellence in Farmingdale State College’s Horticulture Curriculum, provide horticulture
scholarships, promote the program, and further the development of the Ornamental Horticulture Teaching Gardens as the finest in the country.
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H ow D onations Were S pent
How Donations Were Spent
13%
Scholarships & Awards
6%
Fundraising
43%
Campus Programs
8%
Management & General*
30%
Special Events
* Includes community outreach support.
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Total S cholarships Awarded
Total Scholarships Awarded (in thousands)
$127
120
100
80
60
$31
40
20
0
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2002
2010
2002
2010
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Total A ssets
5000
Total Assets (in thousands)
$4,625.40
4000
$3,765.00
3500
$3,023.90
3000
$2,686.50
2500
$2,326.40
2000
$1,940.20
$1,667.90
1500
1000
500
0
$1,013.50
$605.20
$597.00
2000
2001
$725.60
2002
2003
2004
2005
2006
2007
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2009
2010
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Total R evenue
2500
Total Revenue (in thousands)
$2,003.70
2000
$1,531.00
1500
1000
$930.70
$958.10
$934.00
$954.10
2004
2005
2006
2007
$985.10
$778.90
500
$284.00
$174.80
0
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2000
2001
$233.20
2002
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2010 A n n ua l R ep ort
2008
2009
2010
H onor R oll
of
Faculty & Staff D onors
The Farmingdale College Foundation is thankful for the support of the college community without which many of the campus activities and
support for student learning in the form of scholarships would not be possible.
Charles Adair
Catherine Akel
Wisdom Akpalu
Daniel T. Arcieri
Barbara Ayo
Solomon Ayo
Thomas F. Azzara
Matthew Bahamonde
Amitabha Bandyopadhyay
Frances Barton
Susan C. Baxter
Andrew Berger
Joseph Betz
Henry Bojack
Jeffrey Borah
Vanda Bordies-McCormick
Dolores R. Bradley
Gary A. Brown
Margery L. Brown
Jennifer Bryer
Rose Ann Byron
Patrick P. Calabria
Linda L. Calderone
Cheryl R. Canton
Barry John Capella
Maureen Capone
Nancy Casimano
Deborah Cassidy
Lucia Cepriano
Judith M. Cestaro
Stuart Chaskes
Frances Cherkis
Dolores Ciaccio
Kathleen Cino
Jeanne Ciullo
Kathryn S. Coley
Elizabeth Colgan
Amy Colvin
Susan L. Conforti
Karen Coutrier
Bridget J. Cremmins
Loucas Chrysafi
Robert A. Crocker
Marguerite D’Aloisio
Damiano D’Amico
Angela Danzi
Yelleshpur Dathatri
Luisa Dattoma
Miriam K. Deitsch
Kathleen E. Devine
Mary Kirby Diaz
Christine M. Dose
Robin Dunn
John Dzinanka
Malka Edelman
Eileen Eichler
Robert Elgart
Serdar Elgun
Karen M. Escolas
Theresa Esnes-Johnson
Eleanor R. Fapohunda
Edward Farkas
Matilde Fava
George Fernandez
Joan Ferrell
Adam A. Filios
Marvin Fischer
Gerald Flynn
Paul Fogelberg
Jeffrey Gaab
Staci Gardner
Karen A. Gelles
Anthony J. Giffone
Mary Ann Goldrick
Jonathan M. Goldstein
Michael Goodstone
Joanne B. Graham
David Greene
Patricia Greene
Carol Greenholz
Lorraine Greenwald
Sarah Gross
Janet M. Gruber
James T. Hall
Tory Hare
Deirdre Harrington
Michael Harrington
Agnes Hartmann
Eileen Hasson
John W. Hendrickson
Sharon Henle
Veronica Henry
Hanna Horowitz
Arthur Hoskey
Marya Howell Carter
Janet Hume
Richard Hume
Yue Hung
Sandra Hustedt
Ahmed Ibrahim
Marybeth Incandela
Eugene Indenbaum
Leonard Isemonger
Richard Iversen
Kathleen Jacquette
Vicki K. Janik
Laura Joseph
Beverly L. Kahn
Agnes M. Kalemaris
W. Hubert Keen
Arlene Kleinstein
Michael Knauth
John Kostanoski
Paul Kramer
George Kraus
Wayne Krush
Kathleen Kupferman
Colleen Laibach
George P. LaRosa
Jonathan Lehrer
Judith Levine
Frederick Lingner
Claire Lisi
Marcia B. Littenberg
Carolyn Lopalo Harrison
Lawrence A. Lopez
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H onor R oll
of
Faculty & Staff D onors (C ontinued)
Saundra B. Lory-Snyder
Nicholas T. Losito
Barbara Maertz
Brian Maher
Eleanor Majewsky
Lloyd Makarowitz
Bernard Malara
Catherine Malnichuck
Dimitrios Maltezos
Gregory Maninakis
Daniel S. Marrone
Lynn Marsh
Jane Massimino
Paula Maurino
Darleyne E. Mayers
Diane E. Melamed
Eileen Meyers
Marie Hayden-Miles
Louise Napolitano-Carman
Abdul Naseem
Irina Neymotin
Jill A. O’Sullivan
Anita M. Pallateri
Frank C. Pellegrini
Barbara S. Pennetti
Eugene A. Peters
Susan Peterson
Margaret Pettit
Margaret Porciello
Allison Puff
Marie C. Pullan
Jeannette Quinn
Jeanne Radigan
Michael Raffanello
Venkitaswamy Raju
Janet Raman
Monique Ramos
Linda M. Rennie
Monte Rivera
Ligia Rodriguez
Kevin Rooney
Gary Rupp
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Charlene Russert
Yeong D. Ryu
Marlene Sanmiguel Groner
Ruth Sapir
Robert Saunders
Louis Scala
Donna Scarallo
Edward C. Schacher
Martin Schneider
Lisa Scholz
Aristides Scoufelis
Morton Seitelman
Barbara Serr
Mahendra Shah
Ann R. Shapiro
Henry Sikorski
Robert Simins
Michael C. Smiles
Diane M. Smith
Orla M. Smyth-Lopiccolo
Brett Southard
Adele Spencer
Mary Stedman
William Steedle
Herbert J. Stokey
Ira Stolzenberg
Sharon Struminger
Elizabeth Q. Sullivan
Socrates Thanasas
Maureen Tsokris
Joan M. Urbanowski
Joseph Ursino, Jr.
Kathleen Valentino
Bala Veeramacheneni
Eugenio P. Villarreal
Richard M. Vogel
Erika Wachter
Dionne Walker-Belgrave
Kathleen A. Walsh
Vincent Wan
Annette Wanderer
Geraldine Watnick
Fa r m i ngda l e C oll ege Fou n dat ion
n
2010 A n n ua l R ep ort
Lucille Wesnofske
John A. Winn, Jr.
Annette Wyche
H onor R oll
of
E xternal D onors
The Farmingdale College Foundation is fortunate to have the support of the local business and corporate communities. The assistance provided by
these “partners” has helped the college become one of the premier institutions of higher education in the region.
Heritage Society
of $25,000 and above
110 Sand Company
Forest Labs
OSI Pharmaceuticals
Simon Cohen Foundation
Winthrop-University Hospital
Philanthropists
$5,000 to $24,999
Air Techniques
Ball Horticultural Company
Bana Electric Corp.
Bell Nursery USA, LLC
Bethpage Federal Credit Union
Bonnie Plant Farm
CB Richard Ellis
Clinton Nurseries, Inc.
Coastal Supply Co., Inc.
Color Spot Nurseries, Inc.
Cromwell Growers Inc.
Daniel Finley Allen & Co., Inc.
East Coast Power LLC
Estée Lauder Inc.
Fiduciary Trust Company
Floral Plant Growers, LLC
Garden Godfather Inc.
Glenn Walters Nursery, Inc.
H2M Group
hermann engelmann greenhouses, inc.
Hopewell Nursery Inc.
Horan Sand & Gravel Corp.
Ivy Acres Inc.
Kurt Weiss Greenhouses, Inc.
Lockwood Kessler & Bartlett, Inc.
Long Island Contractors
McKeen Fund
MEA Nursery
Naab Hortco, LLC
Northrop Grumman Corporation
Posillico Group
Proven Winners North America
Richard and Carolyn Overton
Roanoke Sand & Gravel Corp.
Rudy Holesek
Stinchcomb Associates Inc.
The Cottage Gardens, Inc.
The Riggio Foundation
The Scotts Company LLC
Theresa M. Santmann
Tilcon New York Inc.
Zelenka Nursery
Benefactor Club
$2,500 to $4,999
Albanese Organization
Alure Home Improvement
Aramark
Barnes & Noble
Best Climate Control
Bio-Botanica Inc.
Bloomaker USA, Inc.
Bottomley Evergreen & Farms Inc.
Certilman Balin Adler & Hyman
DiFazio Electric Inc.
Dunmen USA Inc.
Farmingdale Student Government
Farrell Fritz, P.C.
First Foliage, LLC
Forchelli, Curto, Schwartz, Mineo
Green Circle Growers Inc.
Haynes Security Corp.
H.O. Penn Machinery Company
L. Delea & Sons Inc.
McCann Brothers
Paul Maloney
Poinsettia Foundation
Rason Asphalt
Romanelli & Son Inc.
Scalamandre & Sons
Stuart Shapiro
The Marcus Orgnization, Inc.
Urbahn Architects
Van Zyverden, Inc.
Weeks Lerman
Directors Club
$1,000 to $2,499
5 Seasons LLC
AERTC @ Stony Brook University
Alumni Association, Inc.
American Society for Quality
Andre Viette
Arbre Joyeaux Inc./Enjoy Tree Inc.
Ardell Sales & Consulting Inc.
Automatic Industries, Inc.
Bartlett Tree Expert Co.
Bayer Crop Science/Bayer Advanced
Brownfield Plant Farms
Carol’s Cause Inc.
Centrade CTI
Charles Goulding
Cheryl Lennie
Chris Peterson
Citibank Payment Services
Consolidated Foam Inc.
Costa Farms
Denise Daly
Eagle Interiors
Edward Ehrbar Inc.
Flexible Business Systems
Furey, Kerley, Walsh, Matera Cinquemani
Garden State Growers
Gateway Insulation Inc.
George T. Cronin
GNYHA Ventures, Inc.
Goldsmith Seeds Inc.
Green Leaf Nursery Inc.
Gutter Helmet of Long Island Corp.
Hampshire Farms LLC
Hines Nurseries
Hughes Associates
ICS Incorporated
IEEE
IUOE Local 138
Jeffrey Hwang
Jeffrey’s Greenhouses, Inc.
Johnson Controls
K&L Gates LLP
Fa r mi ngda l e C oll ege Fou n dat ion
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19
H onor R oll
of
E xternal D onors (C ontinued)
Kevin Cooke
KPMG LLP
KP Professional Engineering
Linda Amper
Lizardos Engineering Associates
Lockheed Martin Maritime Systems & Sensors
Longfield Gardens, LLC
Marcum LLP
Marvaso Greenhouses, Inc.
Mason Mix, Inc.
Medtronic USA Inc.
Melville Rotary Foundation Inc.
Michael’s Greenhouses
Middle Bay Charitable Foundation
Multi Packaging Solutions
National Coalition of 100 Black Women
North Eastern Christmas Tree Association
Oheka Management Corp.
Pearlstein Family Foundation
Pope’s Plant Farm Inc.
Pure Beauty Farms, Inc.
Ralph Nappi
Rambo Nursery, LLC
Residential Fences Corp.
Ruttura & Sons Construction Co.
Sawyer Nursery
Sidhu & Sons Nursery Ltd.
Signature Bank
Small Business Development
Center (Farmingdale)
Sorensen Greenhouse Inc.
Stacy’s
Steel Equities
TD Bank
The Plant Group, Inc.
The Townsend Companies Inc.
Valerie Terzano
Van Meter & Son Nursery, Inc.
Village Dock Inc.
Wade Associates Inc.
Wes Livingston
Wood’s Greenhouses
Ziehm Medical LLC
20
n
Trustees Club
$500 to $999
Presidents Club
$250 to $499
1249 Melville Road Corp.
Amerisc Corp.
Axios Products Inc.
Broad Hollow Estates, Inc.
Capital One Private Banking
Changing Times Pub
Chris Knieste
Darr Construction Equipment Co.
Dawn DeRatier
Deirdre E. Happ
Dutchman Tree Farms LLC
Farad Concrete Corp.
Formed Plastics, Inc.
Front St. Chiropractic PC
Garden City Hotel
Garfunkel Wild P.C.
Gray Electric Inc.
Hess Corporation
Island Regional Management LLC
Laborers Local Union 1298
Laura Palker
Michael O’Rourke
Mill-Max Mfg. Corp.
MONY @ Lake Success, LLC
Overton Operations Advisors, Ltd.
Ricklie Realty LLC
Robert C. Godfrey
School Business Partnerships of Long Island
School Construction Consultants,Inc.
Sidney Frank Importing Co., Inc.
Silvestri Landscape
The LandTek Group Inc.
Total Marketing Associates, Inc.
Town of Babylon Democratic Committee
U.M.C. Moving Co., Inc.
USI Sammis, Inc.
A+ Technology Solutions
AccessLinx Inc.
Arlyne and Fred Skolnik
Chris Early
Danielle Dickinson
David Orelli
Diana Pietzak
Eberhard-Voellm Nurseries, Inc.
Epoch 5 Public Relations
Eugene Wesnofske
EZ Shipper Racks Inc.
FIRST
Frank Davis
Frank Saracino
Gail Rubel
George Brennan
George P. Rainer
Jeffrey Egan
Joe Rocco
Judith E. Roberts
Kenneth Brengel
Mario Telesca
Michael Bender
Patricia M. Manger
Patricia M. McMahon
Richard Povak
Robert Van Nostrand
Scott D. Schuler
Thomas A. Bucaria
Tom Jones
Triangle Properties #5 LLC
Work/Life Resources Inc.
Fa r m i ngda l e C oll ege Fou n dat ion
n
2010 A n n ua l R ep ort
H onor R oll
of
Patron
$100 to $249
Abrams, Fensterman
Alfonso Santellan
Anita Sicinski
Anthony Martillotti
Art Desin
Arthur A. Ezra
Barbara Cutrone
Bonnie Ewing
Charles A. Forte, Sr.
Charles L. Lauer
Chris Kutner
Christie Pennino
Christine Martin
Christine P. Busch
Chuck Forte
Denise Kern
Denise Newman
Freda Lin-Tam
Gloria Davis
Gregg J. Adwar
Home Bazaar Inc.
James Durant
Jeanine Madden Lostito
Jeremiah Ahern
John Collins
John Kucij
Jonathan Klein
Joseph Brennan
Judith Record
Kacey McDonald
Karolina Bizik Rasa
Lura Salm
Marie Mazzeo
Marty Schmitt
Mary Ellen Freeley
Megan Toth
Mike Giardina
Nancy O’Malley
Owen H. Johnson
Pam Penta
Patricia Hill Williams
E xternal D onors (C ontinued)
Paul and Barbara Capobianco
Paul F. Caroleo
Pearl M. Kamer
R.A. Newhouse, Jr.
Regina Dlugokencky
Richard Catalano
Richard Mills
Robert Martin
Robert Stricoff
Stephen M. Nowotarski
Strain Events
Thomas Crist
Thomas Murray
Thomas Wehmeyer
Tom Cruthers
Tracey Anastasatos
Turan Family Foundation
Youngfert’s
Donors Club
up to $99
Alfred L. Barkan
Andrew P. Crew
Barbara McDonald
Bettie M. Steinberg
Carl Bonuso
Carolynn Lucca
Christine M. Paschke
Daniel Abbruzzese
Dorothy Harris
Edward Smith
Fayth Vaughn-Shavuo
Gregory Fitzgerald
Hand Consultant of Long Island
IBM International Foundation
Irene Lucarelli
James Lochris
James Stephenson
Janet Anderson
JoAnn Sarantakos
Joann M. Slavin
John Broder
John Kacner
John F. Loonam
Joy Anne Kastner
Karin Weisenberger
Lisa Cohen
Mario Lucero
Mary A. Fallon
Meldon-Silverman Agency Inc.
Michele Goonan
Nancy C. Rasmussen
Pamela E. Avella
Patricia A. Shea
Patrick Hughes
Robert Addieg
Robert Suarez
Roseann Caldon
Sheldon P. Gordon
Sherry Stolzenberg
SPN Music & Entertainment
Stephanie Stern
Susan L. Frank
Susan Landau
Ted Kasnicki
Terrecita E. Pinder-Watkis
Theresa Gustafson
Thomas Grech
William Hodrinsky
William Recce
William Youngfert
Please note: Every attempt has been
made to ensure the accuracy
of these lists.
Fa r mi ngda l e C oll ege Fou n dat ion
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2010 A n n ua l R ep ort
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21
22
n
Fa r m i ngda l e C oll ege Fou n dat ion
n
2010 A n n ua l R ep ort
Farmingdale C ollege Foundation
Statement of F inancial Position - June 30, 2010
2010
Unrestricted
Temporarily
Restricted
Permanently
Restricted
Total
$443,179
$1,914,492
$964,449
$3,322,120
Accounts receivable
55,567
-
-
55,567
Prepaid expenses
33,503
-
-
33,503
-
506,535
5,985
512,520
532,249
2,421,027
970,434
3,923,710
18,300
-
-
18,300
(18,300)
-
-
(18,300)
-
-
-
-
829,588
-
-
829,588
(127,919)
-
-
(127,919)
701,669
-
-
701,669
$1,233,918
$2,421,027
$970,434
$4,625,379
$45,964
-
-
$45,964
700
-
-
700
46,664
-
-
46,664
1,187,254
2,421,027
970,434
4,578,715
$1,233,918
$2,421,027
$970,434
$4,625,379
Assets
CURRENT ASSETS
Cash and cash equivalents
Investments
Total Current Assets
Fixed Assets
Equipment
Less: accumulated depreciation
Total Fixed Assets
Other assets
Equipment on loan to college
Less: accumulated amortization
Total Other Assets
Total Assets
Liabilities and net assets
CURRENT LIABILITIES
Accounts payable
Refundable advances
Total Current Liabilities
Net Assets
Total Liabilities and Net Assets
Fa r mi ngda l e C oll ege Fou n dat ion
n
2010 A n n ua l R ep ort
n
23
Farmingdale C ollege Foundation
Statement of Activities - June 30, 2010
2010
Unrestricted
Change In Net Assets
Revenue And Other Support
Special functions:
Golf outing
Garden party
Fall Gala
Horticulture arts and crafts fair
Contributions:
Scholarships
General
Campaign for Farmingdale:
Internal Campaign General
Faculty/Development & research
Tech support services/equipment
Campus beautification
In-kind, equipment and supplies
Interest income
Net assets released from restrictions:
Satisfaction of program restrictions
Total Revenue and Other Support
Expenses
Special events
Campus programs
Fundraising
Management and general
Scholarships and awards
Total Expenses
Increase (decrease) in net assets
Net assets at beginning of year
Net assets at end of year
24
n
Fa r m i ngda l e C oll ege Fou n dat ion
Temporarily
Restricted
$132,425
209,660
-
$
1,250
297,750
90,963
21,623
5,219
n
136,300
246,234
Permanently
Restricted
$
Total
-
$132,425
1,250
507,410
90,963
50,651
20,095
208,574
271,548
150,000
605,046
6,260
1,428
2,511
1,563
24,700
-
150,000
1,428
2,511
1,563
605,046
30,960
445,279
(445,279)
-
-
1,575,512
357,420
70,746
2,003,678
331,610
479,308
67,438
92,261
139,144
1,109,761
465,751
721,503
$1,187,254
357,420
2,063,607
$2,421,027
70,746
899,688
$970,434
331,610
479,308
67,438
92,261
139,144
1,109,761
893,917
3,684,798
$4,578,715
2010 A n n ua l R ep ort
Farmingdale C ollege Foundation
Statement of Cash F lows - June 30, 2010
2010
Cash flows from operating activities:
Cash received from contributions and donations
Cash received from special functions
Cash received from interest income
Total cash received
$635,624
730,878
30,960
1,397,462
Cash paid for payroll and related labor costs
Cash paid to suppliers and award recipients
Total cash paid
Net cash provided by operating activities
Cash flows from investing activities:
Invested interest income
Net cash used by investing activities
Increase (decrease) in cash
Cash at beginning of year
Cash at end of year
124,709
887,565
1,012,274
385,188
(11,640)
(11,640)
373,548
$2,948,572
$3,322,120
Net cash provided by operating activities
Increase in Net Assets
Adjustments to reconcile increase in net assets
to net cash provided by operating activities:
Depreciation and amortization
In Kind donations
Change in assets and liabilities:
(Increase) decrease in assets:
Accounts receivable
Prepaid expenses
Assets held by others
Increase (decrease) in liabilities:
Accounts payable
Refundable advances
Net cash provided by operating activities
$893,917
105,455
(604,946)
(1,170)
3,897
21,587
(7,252)
(26,300)
$385,188
Fa r mi ngda l e C oll ege Fou n dat ion
n
2010 A n n ua l R ep ort
n
25
FARMINGDALE COLLEGE FOUNDATION
NOTES TO FINANCIAL STATEMENTS
Notes to F inancial Statements
JUNE 30, 2010 AND 2009
Year Ended June 30, 2010
1.
Background and summary of significant accounting policies:
Background:
The Farmingdale College Foundation is a not-for-profit corporation established under the laws of the State of
New York and is exempt from income taxes under section 501(c) (3) of the Internal Revenue Code. The
general purpose of the Foundation is to assist in advancing the welfare and development of the Farmingdale
State College. This is to be accomplished by gifts, grants and bequests of money and property to provide
financial assistance to college faculty, students, staff and programs in a manner consistent with the educational
policies of the State University of New York.
Basis of accounting:
The Foundation maintains its books and records on the accrual basis of accounting. Accordingly, revenue is
recognized when earned and expenses are recognized when incurred.
Use of estimates:
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect certain reported amounts and disclosures.
Accordingly, actual results could differ from those estimates.
Gifts and support:
The Foundation reports gifts of cash and other assets as either unrestricted, temporarily restricted, or
permanently restricted net assets.
Net assets:
As required by the Financial Statements for Not-for-Profit Organizations topic of the FASB Accounting
Standards Codification, the Foundation is required to report information regarding its financial position and
activities according to three classes of net assets: unrestricted, temporarily restricted and permanently restricted
net assets and changes in net assets, as follows:
Unrestricted net assets:
May be used at the discretion of the Foundation’s Board of Directors.
Temporarily restricted net assets:
May be used in accordance with donor directives and restrictions. When a donor restriction expires, that is,
when a stipulated time restriction ends or purpose restriction is accomplished, temporarily restricted net
assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets
released from restrictions.
Permanently restricted net assets:
Permanently restricted net assets are those resulting from contributions whose use by the Foundation is
limited by donor imposed restrictions that neither expire by the passage of time nor can be fulfilled or
otherwise removed by actions of the Board of Directors. Present permanently restricted net assets are
comprised of endowed funds, the income from which is to be used for scholarships.
Cash and cash equivalents:
Cash and cash equivalents represents cash held in banks, money market accounts held by investment brokers,
and short-term investments. The Foundation considers all short-term investments with maturity of three months
or less to be cash equivalents.
26
n
-7FARMINGDALE
COLLEGE
FOUNDATION
Fa r m i ngda l e C oll ege Fou n dat ion n 2010 A n n ua l R ep ort
NOTES TO FINANCIAL STATEMENTS
Notes
1.
to
JUNE 30, 2010 AND 2009
F inancial Statements (C ontinued)
Background and summary of significant accounting policies (continued):
Investments:
Investments in certificates of deposit with readily determinable fair values are stated at fair value based on
quoted prices in active markets (all Level 1 measurements).
Expenses:
Expenses are allocated into functional categories depending upon the ultimate purpose of the expenditure.
Fixed assets:
Fixed assets are recorded at cost or current fair value for donated items. Maintenance and repairs are expensed
as incurred. Depreciation is provided using the straight-line method over the estimated useful lives of the assets.
2.
Investment held by SUNY:
Investment held by SUNY is comprised of pooled investable assets held by the University of Buffalo
Foundation with a market value of $21,587 as of June 30, 2009. Distributions from this portfolio in the amount
of $20,559 were received on April 27, 2010.
3.
Investments:
The Foundation invests cash in excess of daily requirements in investments. At June 30, 2010 and 2009
$512,520 and $500,880 respectively was deposited in 8, 12, and 16 month certificates of deposit, and during the
years earned $11,640 and $5,096 respectively. The investments are held in two investment pools. One pool is
for permanent endowments and the other is for temporarily restricted accounts. Interest income derived from the
investments is to be used for scholarships.
4.
Fair value measurements:
-8Fa r mi ngda l e C oll ege Fou n dat ion
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27
Notes
FARMINGDALE COLLEGE FOUNDATION
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010 AND 2009
to
F inancial Statements (C ontinued)
5.
Equipment on loan to College:
During 2010 and 2009, the Foundation received donated equipment in the amount of $604,946 and $224,642
respectively. In accordance with SUNY guidelines, the Foundation retains title to the equipment and allows
designated school programs to use the equipment for student educational purposes. The equipment was
recorded at fair market value, and is being ratably amortized over a 5 year period. Since the amortization relates
to student educational services, it is being recognized as a program expense over the useful life of the
equipment.
6.
Concentration of credit and market risk:
The Foundation’s financial instruments consist of cash and accounts receivable. At June 30, 2010 and 2009, the
Foundation had funds deposited with various local banking institutions. At June 30, 2010 and 2009 the amounts
in excess of federally insured limits were $3,070,431 and $2,690,798 respectively. One of the institutions
protects deposits in excess of federally insurance limits via repurchase agreements.
7.
Reclassifications:
The financial statements for 2009 have been restated to conform to the 2010 presentation format. This change
did not impact the 2009 change in net assets.
8.
Subsequent Events:
The Foundation has evaluated subsequent events through October 7, 2010, the date which the financial
statements were issued.
-928
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Fa r m i ngda l e C oll ege Fou n dat ion
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2010 A n n ua l R ep ort
The Office of
Development and Corporate Relations
at Farmingdale State College
Henry Sikorski, PhD
Chief Development Officer
Design and Production:
Office for Institutional Advancement,
Farmingdale State College
Photography:
John Boles, Northrop Grumman
Denisimo Photography & Video
Jonathan Goldstein, Farmingdale State College
Jennifer Wilbur, Farmingdale State College
2350 B roa dholl ow Roa d
n
Fa r m i ngda l e, New Yor k 11735-1021
n
631-420-2142
n
w w w.fa r mi ngda l e.edu