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THE UPSTATE FOUNDATION INC

SYRACUSE, NY · EIN 161068101 · Form 990 · FY2025 · NTEE P20 · Human Services · Large ($10M-$50M) · upstatefoundation.org
revenue
$31.9M
expenses
$16.1M
net assets
$218.1M
employees
0
volunteers
200
program ratio
78%
mission · from form 990

TO RECEIVE AND ADMINISTER GIFTS AND BEQUESTS PRIMARILY MADE ON BEHALF OF THE SUNY UPSTATE MEDICAL UNIVERSITY.

profile · synthesized from sources

The Upstate Foundation Inc is a public charity that raises and administers charitable gifts to support SUNY Upstate Medical University and its affiliated institutions. It funds patient care, medical education, scientific research, and community health initiatives across Central New York, with expanding reach into the North Country and Southern Tier. The foundation manages over $324 million in assets through endowments, restricted funds, and donor-advised funds.

named programs · 5 · from sources

What they call their work

Children’s Miracle Network Hospitals Partnership
Annual fundraising campaign supporting pediatric services at Upstate Golisano Children’s Hospital; includes telethons and radiothons since 1984
Covid-19 Relief Fund
Established in 2020 to provide emergency support for patients, families, employees, and students during the pandemic
Donor-Advised Funds (DAF)
Program launched in 2019 allowing donors to establish charitable investment accounts with minimums of $5,000 or $10,000 for recommended grants
Grateful Patient & Family Program
Program launched in 2015 to engage former patients and families in philanthropy
Legacy Giving Program
Planned giving initiative established in 2007; recognizes donors through the Upstate Legacy Society with over 123 members as of 2025
activities · 8 groups

What they do

  • Hospital and Medical Center Support 4 activities
    • Funding research, education, and patient care at Upstate Medical University
      Provides permanent, ongoing funding for research, education, and patient care at SUNY Upstate Medical University through endowments and the administration of charitable gifts and bequests.
    • Managing capital campaigns and major funding initiatives for healthcare facilities
      Conducted and funded major capital campaigns, including $21 million for Upstate Golisano Children’s Hospital, $20 million for the Upstate Cancer Center, and $7.1 million for the Campaign for Child & Adolescent Mental Health, which supported mental health services and led to the opening of the Golisano Children’s Pavilion.
    • Supporting the development of specialized healthcare programs and facilities
      Provided funding and support for the establishment of key healthcare programs and facilities at Upstate University Hospital, including the first pediatric intensive care unit, a heliport, the Joslin Diabetes Center, and the Nappi Wellness Institute.
    • Unveiling named facilities in recognition of major benefactors
      Unveiled the Golisano Children’s Pavilion in recognition of Tom Golisano’s $20 million in beneficence over two decades, including a $10 million unrestricted gift in 2024.
  • Endowment and Gift Fund Management 1 activity
    • Administering legacy giving and planned gift programs
      Manages a Legacy Society with over 123 members who have notified the foundation of their planned gifts and maintains a 34-member Professional Advisory Council to support legacy giving initiatives.
  • Healthcare Education Scholarships and Fellowships 1 activity
    • Awarding grants, scholarships, and funding to support patients, students, researchers, and community initiatives
      Awarded over $10.4 million in grants, scholarships, and awards in 2025 to benefit patients, students, researchers, and the community, and manages more than 1,300 funds dedicated to improving regional health.
  • Community Service and Charitable Outreach 1 activity
    • Expanding community outreach through partnerships
      Expands outreach by partnering with local nonprofit organizations aligned with its mission pillars to extend impact in the region.
  • Pediatric Medical Care and Research Support 1 activity
    • Overseeing Children’s Miracle Network programs
      Oversees signature Children’s Miracle Network programs including Radiothon for Kids, Direct Mail, and the Miracle Family program to support pediatric care.
  • Charity Event Organization 1 activity
    • Participating in public health advocacy and awareness events
      Participated in the American Heart Association Heart Walk, raising over $750,000 cumulatively since 1997, with Team Upstate ranking as the top fundraiser for two consecutive years as of 2026.
  • Industry and Community Recognition Awards 1 activity
    • Recognizing philanthropic contributions through special events
      Hosted the Spirit of Philanthropy event in June 2024 to recognize philanthropist Tom Golisano and conclude the Campaign for Child & Adolescent Mental Health.
  • Fundraising for Community and Charitable Initiatives 1 activity
    • Seeking external grant funding to support foundation initiatives
      Seeks funding by applying for grants from corporate foundations to support its programs and campaigns.
financials · form 990 · fy2025
revenue
Total revenue$31.92M
Contributions & grants$13.21M41%
Program service revenue$00%
Investment income$18.16M57%
Other revenue$549K
expenses
Total expenses$16.09M
Program expenses78%
Admin / overhead9%
Fundraising13%
Salaries & benefits$0
Grants paid out$10.77M
Largest expense lineFacilities
balance sheet
Total assets$324.86M
Cash$29.42M
Investments$287.63M
Liabilities$106.79M
Net assets$218.07M
Liquid reserves236.5 mo
5 years on record · 2020–2025 · YoY revenue -9.8%
leadership · form 990 part vii · fy2025

Who runs it

board members · 25
  • ANDREW K PALMER MD — DIRECTOR
  • APRIL STONE — DIRECTOR
  • CHUNG-TAIK CHUNG MD — DIRECTOR
  • DAVID K SCHNECKENBURGER — DIRECTOR
  • DODIE VLASSIS — SECRETARY
  • GAIL M MCINTYRE CPA — TREASURER
  • GARY GROSSMAN CPA — DIRECTOR
  • GREGORY L EASTWOOD MD — DIRECTOR
  • J DANIEL PLUFF — ASSISTANT TREASURER
  • JOHN F BROGAN CPA — DIRECTOR
  • JOHN L MURAD JR — DIRECTOR
  • JOSEPH L LALONDE — DIRECTOR
  • JOSHUA P SOLOMON — DIRECTOR
  • JULI G BOEHEIM — DIRECTOR
  • KAREN K BULLIVANT — DIRECTOR
  • KOLLIN BLACK — DIRECTOR
  • MANTOSH DEWAN MD — EX-OFFICIO
  • MAUREEN DUNN MCGLYNN — DIRECTOR
  • MICHAEL H RATNER MD — DIRECTOR
  • NATHAN ANDREWS — DIRECTOR
  • PAUL P MELLO — VICE CHAIR
  • PHILLIP CAPOZZI MD — DIRECTOR
  • RITA L REICHER PHD — CHAIR
  • SCOTT M MATUKAS — DIRECTOR
  • STEPHEN P MCCOY CPA — DIRECTOR
relationships · 21

Who they work with

  • Acadian Partner — Investment manager for international equity portion of endowment portfolio
  • American Funds Europac Partner — Investment manager for international equity portion of endowment portfolio
  • American Heart Association Partner — Collaborates with the American Heart Association through Team Upstate, participating in the Heart Walk fundraising campaign.
  • Baird Core Plus Bond Partner — Investment manager for domestic fixed income portion of endowment portfolio
  • Black Rock Partner — Investment manager for domestic equity portion of endowment portfolio
  • C.S. McKee Partner — Investment manager for Foundation sustaining fund
  • Candid/GuideStar Network — Member of Candid/GuideStar's nonprofit network and recipient of its Platinum distinction for transparency.
  • Children’s Miracle Network Network — Hosts the local chapter of the Children’s Miracle Network, aligning with its national mission to support children’s health.
  • Children’s Miracle Network Partner — Partnership to implement national fundraising programs and oversee signature initiatives such as Radiothon for Kids and Direct Mail.
  • Children’s Miracle Network Hospitals Network — Member since 1984, participating in annual fundraising efforts for pediatric services.
  • Fidelity Total Bond Partner — Investment manager for domestic fixed income portion of endowment portfolio
  • Golisano Children’s Hospital Partner — Supports Golisano Children’s Hospital through annual campaigns and major gift recognition, including naming the Golisano Children’s Pavilion.
  • PIMCO-IRMA Partner — Investment manager for real assets portion of endowment portfolio
  • SUNY Upstate Medical University Partner — Primary beneficiary of gifts and bequests administered by the foundation.
  • Sam and Carol Nappi Funder — Provided a naming gift for the Nappi Wellness Institute.
  • Tom Golisano Funder — Major donor providing naming gifts for multiple facilities including Upstate Golisano Children’s Hospital and the Golisano Center for Special Needs.
  • Upstate Medical University Government — Collaborates closely with Upstate Medical University, including joint field calls and hosting events featuring its leadership.
  • Upstate Medical University Partner — Primary beneficiary of foundation support, aligned in mission and receiving funding for patient care, education, and research.
  • Upstate Medical University Partner — Primary institutional partner, with the Foundation focused on supporting the mission of Upstate Medical University through fundraising and grant distribution.
  • Upstate Medical University Partner — Primary recipient of charitable gifts administered by the foundation
  • Vanguard Partner — Investment manager for domestic equity portion of endowment portfolio
strategies · 4

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Distributed Fund & Designated Giving Model
    methodology: designated_fund_network
    By maintaining a network of over 1,300 designated funds and using a distributed fund model, the foundation enables targeted donor support for specialized healthcare initiatives, increasing donor alignment and programmatic responsiveness.
  • Endowment Stewardship Strategy
    methodology: prudent_risk_management
    By preserving endowment principal adjusted for inflation and applying prudent risk management, the foundation ensures long-term financial stability and sustained purchasing power to support future healthcare needs.
  • Integrated Academic Medicine Model
    methodology: integrated-academic-medicine
    By supporting patient care, education, and research as interconnected pillars, the foundation amplifies community health impact because advances in one area catalyze progress in the others.
  • Legacy Catalyst Model
    methodology: planned_giving_engagement
    By positioning planned giving as legacy-building within estate planning, the foundation increases long-term philanthropic engagement because donors are motivated by enduring personal and civic impact.