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2010 - 2011 Report to the Community
Spring 2012 ValleyView - includes 2010-2011 Report to the Community


Financials

College Operating Budget 2010-11 Revenue and Expense Summary

Revenue
Tuition Revenue $ 39,555,216
State Aid 23,688,410
Offset Revenue 19,808,635
Chargeback Revenue 17,171,800
Sponsor Contribution 3,138,900
Revenue in Lieu of Sponsor’s Share 1,438,000
Appropriated Fund Balance 4,763,516
Total $ 109,564,477

Expense
Personal Services $ 54,386,740
Equipment 1,594,452
Contractual Expense 35,593,541
Employee Benefits 17,989,744
Total $ 109,564,477

Statements of Financials

Hudson Valley Community College Foundation Income Statement

Direct Public and Fundraising Support $ 722,206
Net Investment Activity 386,024
Total Revenues 1,108,230
Total Expenses* 1,530,271
Net Increase (422,041)
Increase in Net Assets $ (422,041)

*Includes $1,504,389 for student scholarship assistance and support of college initiatives.

Hudson Valley Community College Foundation Statements of Financial Position
August 31, 2010 and 2011

August 31
2011 2010
Assets
Current Assets
Cash $ 747,646 $ 1,052,999
Prepaid expenses and other assets 10,153 -
Current portion of pledges receivable 65,865
75,691
Total current assets $ 823,664 1,128,690
Pledges receivable due after one year 110,165 239,020
Other assets 10,000 10,000
Investments 3,185,115 2,862,713
Guenther Trust assets 481,672 460,381
Beneficial interest in perpetual trust 85,827 80,654
Cash surrender value of life insurance 268,339
266,249
Total assets $ 4,964,782

$ 5,047,707

Liability and Net Assets
Current Liabilities    
  Accounts payable and accrued expenses $ 5,101 $ 31,555
  Due to College, current portion 64,175  
  Deferred revenue -
72,316
Total current liabilities 69,276 103,871
Due to College, net of current portion 373,711
0
  Total liabilities 442,987 103,871
Net Assets
Unrestricted
Board designated 22,001 22,001
Undesignated (deficit) (322,485)
(140,961)
  (300,484) (118,960)
Restricted      
Temporarily restricted 1,571,772 1,749,168
  Permanently restricted 3,250,507
3,313,628
Total net assets 4,521,795
4,943,836
 
Total liabilities and assets $ 4,964,782

$ 5,047,707

Hudson Valley Community College Foundation Unrestricted and Restricted Funds (as of Aug. 31, 2011)

Like most organizations, Hudson Valley Community College Foundation seeks unrestricted gifts that can be used where the need is greatest. We encourage and welcome unrestricted gifts so that we can help the College address its most pressing needs.

Many donors have created restricted funds that can only be used for a specific purpose. Following is a list of the many funds that are restricted for purposes such as scholarships, departmental equipment purchases and faculty development. If you would like to contribute to one of these funds or would like to know if a fund exists for a specific purpose, please contact the Foundation at (518) 629-8012.

  • ASCE Student Club Endowment Fund
  • ASHREE Scholarship
  • Albany Electrical Industry Contractors Scholarship
  • Albany Kennel Club Paramedic Scholarship
  • Albany Medical Center Scholarship
  • Albany Rods & Kustoms, Inc. Scholarship
  • Allied Health Scholarship
  • Alumni Legacy Scholarship
  • Amerada Hess Scholarship
  • John O. Amstutz Scholarship
  • Architectural Technology, Civil Engineering Technology, Construction Technology, Mechanical Engineering Technology, and Computer Aided Drafting (CIM) Department Fund
  • Athletics Department Equipment Endowment Fund
  • John H. and Hazel Hayes Atwater Memorial Scholarship
  • Lois and John H. Atwater, Jr. Memorial Scholarship
  • Automobilist of the Upper Hudson Valley Scholarship in Memory of John A. English
  • Ann L. Baldrey Scholarship Fund
  • Bob Barker Animal Advocacy Fund
  • Biology, Chemistry Physics Fund
  • Biology Nature Trail Fund
  • Sgt. Michael Blair Scholarship
  • Senator Joseph L. Bruno Public Service Scholarship
  • Building Systems Technology Fund
  • Dr. Joseph J. Bulmer Educational Opportunity Center Scholarship
  • Dr. Joseph J. Bulmer Award for Excellence in Library Research
  • John Buono Award for Civic Engagement Fund
  • Business Administration Scholarship
  • Business Administration Faculty Scholarship
  • Business Department Student Award Fund
  • Capital District Chevrolet Club Scholarship
  • Hudson Valley Community College Capstone Project Fund
  • Center for Careers & Employment Development Fund
  • Center for Service Learning and Civic Engagement Fund
  • Courtney Carelli and Ryan Gardner Memorial Scholarship
  • Peter T. Chimbos '64 Memorial Scholarship
  • John J. Choulochas Annual Award for Excellence in Automotive Service
  • Citizens Academy Grant Fund
  • Class of '57 Scholarship
  • Class of '93 Scholarship
  • College Day Care Fund
  • College in the High School Program Fund
  • Collegiate Academic Support Program Fund (CASP)
  • James P. Conley '57 Family Scholarship
  • Construction Technology Endowment Fund
  • Dorothy Cushman Scholarship
  • Kevin H. Davidson Memorial Scholarship
  • Dr. Anthony M. De Bonis Memorial Scholarship
  • Elizabeth M. DeFeo Memorial Scholarship
  • Dental Hygiene Endowment Fund
  • Dewar Foundation Scholarship
  • Richard Dinn Memorial Scholarship
  • Diversity Honors Scholarship
  • Center for Access and Assistive Technology Endowment Fund
  • Jason Irving Doeg '02 Memorial Scholarship
  • William J. Doherty Nursing Scholarship
  • Professor Ronald Dow Scholarship
  • Eastern New York Coalition of Automotive Retailers, Inc. Scholarship
  • Educational Opportunity Center Endowment Fund
  • Educational Opportunity Program Emergency Fund
  • Dr. John W. Ehrecke Humanity Award
  • Ellis Hospital Respiratory Care Scholarship
  • Emergency Assistance Fund for Students with Disabilities Fund
  • Engineering Science Department Fund
  • English, Modern Language and ESL Department Support Fund
  • Evergreen Bank Scholarship
  • Facility Maintenance Improvement Fund
  • Faculty Staff Emergency Fund for Employees
  • Faculty Staff Endowment Scholarship for Dependents of Hudson Valley Community College Employees
  • Faculty Staff Endowment Scholarship for Hudson Valley Community College Employees
  • Jack Falvo Memorial Scholarship
  • Patricia Field Scholarship
  • Fine Arts, Theatre Arts, Broadcast Communications (FTB) Department Fund
  • First Advantage Dental Scholarship
  • John R. Fletcher Memorial Scholarship
  • Ryan W. Gardner Memorial Scholarship Sponsored by the Rensselaer County Association of Town Superintendents of Highways
  • General Electric Award
  • General Electric Polypropylene Oxide Scholarship
  • General Scholarship
  • Donald F. Gilbert, Jr. Scholarship
  • Paul F. Goliber Memorial Scholarship
  • Otto V. Guenther Scholarship
  • Jack Hallgren Memorial Chemistry Award
  • Janet Hamel Leadership Scholarship
  • Willie Hammett Student Services Scholarship
  • Frank Hanrahan Memorial Scholarship
  • Joel B. Hargett '97 Memorial Scholarship
  • Donald D. Heckleman Memorial Scholarship
  • Robin M. Henkel Memorial Scholarship
  • Lester C. Higbee Scholarship
  • History, Philosophy, Social Sciences Department Fund
  • Hudson Valley Community College Alumni Emergency Assistance for Students Fund
  • Hudson Valley Chapter Association Legal Administration Scholarship
  • Cathy Hunter-Roberts Scholarship
  • Gretchen Hussey Memorial Scholarship Fund
  • Stephen L. Hyatt Fine Arts Endowment
  • The Stephen L. Hyatt Science Award
  • Individual Studies and Liberal Arts Department Fund
  • Warren Joscelyn Mathematics Award
  • Francis A. Kelly Chapter No. 38 DAV Scholarship
  • Sean Anthony Kelleher Memorial Scholarship
  • Kevin Everett King Scholarship
  • Eastman Kodak Business Scholarship
  • Eastman Kodak Engineering Scholarship
  • Robert J. Kufs Memorial Scholarship
  • Matthew Kupic Memorial Fund
  • Marilyn LaBrie - Dental Hygiene Faculty Memorial Scholarship
  • Kenneth P. LaCorte Scholarship
  • Samuel J. and Pauline M. LaGatta Scholarship
  • Hollie Sharp Lainhart Memorial Scholarship
  • Lang Fund for Animal Law Studies
  • John & Marguerite La Pan Memorial Scholarship
  • Library Fund
  • Lockheed Martin Scholarship
  • Lovejoy Chaplet Corp. Manufacturing Technical Systems Scholarship Fund
  • Make Great Things Happen Foundation Scholarship
  • Jane S. Mangold Memorial Scholarship
  • Manufacturing Technical Systems Fund
  • R.D. Marshall Scholarship
  • Mathematics and Engineering Science Department Fund
  • Marvin Scholarship
  • Roy J. McDonald '67 G.I. Scholarship
  • Mr. & Mrs. Edward F. McDonough, Sr. Scholarship
  • Mark McKeon '97 Memorial Scholarship
  • McKinley Faculty Memorial Scholarship
  • Medical Imaging Emergency Book & Uniform Fund
  • Stephen Metzgar Human Services Fund
  • Dr. Frank J. Morgan, Jr. Scholarship
  • Jeannette M. and James K. Morse Sr. Memorial Scholarship
  • Mortuary Science Fund
  • William G. Muller Continuing Education Scholarship
  • Louis D. Nagi Scholarship
  • Rev. Dr. Dennis Nagi Scholarship
  • National Grid Grant Fund
  • Naturalized Student Award
  • New York Propane Gas Association Scholarship
  • New York State Federation of Home Bureaus, Inc. Scholarship in Business/Accounting/CIS
  • New York State Federation of Home Bureaus, Inc. Scholarship in Early Childhood Education
  • New York State Federation of Home Bureaus, Inc. Scholarship in Human Services
  • New York State Federation of Home Bureaus, Inc. Scholarship in Liberal Arts
  • Northeastern Subcontractors Association Scholarship
  • Northeastern Subcontractors Association Scholarship in memory of Fred Dykeman
  • Edith Norton Scholarship
  • Nursing Expansion Fund
  • Ralph O'Brien Scholarship
  • PA Alumni Association Scholarship
  • Pash-Corr Math/Math Educator Scholarship
  • William E. Peck '82 Memorial Scholarship
  • Pell Scholarship
  • Harold M. Perkins Automotive Technology Scholarship
  • Pioneer Bank Scholarship in Memory of John M. Scarchilli '74
  • Dr. Lawrence Emil Porcelli Memorial Scholarship
  • Marine Sgt. William D. Powers Scholarship
  • President's Innovation Fund
  • Project Aware
  • Psychology Scholarship
  • Puma/Schmidt Memorial Scholarship
  • Aimee Lynn Pyskadlo Memorial Scholarship
  • Rensselaer High School Student Tuition Fund
  • Respiratory Care Fund
  • Ray Richardson Scholarship in honor of Dr. Frank J. Morgan, Jr.
  • Elizabeth K. Ripple Memorial Scholarship
  • Rose & Kiernan- Traveler's Scholarship Fund
  • Doris & Hy Rosenblum Humanitarian Award
  • Frank J. Ryan '69 Memorial Scholarship
  • Second Chance Scholarship Endowment Fund
  • Second Chance Foundation Endowed Scholarship
  • Southworth Machinery Scholarship
  • Dr. Leonard Spiegel Memorial Scholarship
  • Eugenia M. Staerker Individual Studies Award
  • Maureen Stapleton Theatre Fund
  • Raymond J. Stastny Memorial Scholarship
  • Michael Such Criminal Justice Scholarship
  • Steven Sultan Scholarship
  • Karen Swanick Scrivani '94 Memorial Nursing Scholarship
  • Tau Beta Phi Scholarship
  • Teamsters Union Scholarship
  • Technology Expansion Fund
  • TEC-SMART Fund
  • Tri-County Council of Vietnam Era Veterans and Gold Star Mothers Scholarship
  • Michael J. Torello Memorial Scholarship
  • Teacher Preparation Fund
  • UHY Advisors Accounting Award Fund
  • Viking Club Fund
  • Patty Walsh '92 Memorial Scholarship
  • Sharao Vasudeo Watwe Memorial Scholarship
  • Abbott L. Wiley Scholarship sponsored by Wiley Brothers, Inc.
  • Workforce Development Fund
  • Women's Enterprise (WE@HVCC) Fund
  • The Women's Fund of the Capital Region Scholarship
  • Youth Program Fund
  • Youth Program Endowment Fund
  • Zak, Inc. MFT Scholarship
  • Gordon '62 and Linda Zuckerman Endowment Fund