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During the past year, many projects were undertaken. The Foundation:
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Upgraded accounting and payroll software
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Digitized tens of thousands of paper records of varying types
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Deployed an e-Payment system
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Issued letters to 5,600 employees in compliance with New York State Wage
Theft Protection legislation
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Reconfigured employee pension plan investment options to remove poorly
performing funds and add more diversification to the choices available
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Created a new electronic employee payroll and benefits self-service portal
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Transitioned from paper checks to ACH for vendor payments
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Launched an on-line effort certification process
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Revised the short-term investment policy for improved capital preservation
and liquidity
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Continued strict compliance with over 100 laws and regulations
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Introduced a new web-based certification process for summer salary
The Foundation is headquartered at 230 West 41st Street, a facility it owns and that pro-
vides rental income from a variety of retail and commercial tenants, as well as several
CUNY tenants. The building is operated by an LLC and the Foundation is the sole member.
The Foundation, through its GrantsPlus entity, provides administrative services to New York
metropolitan area not-for-profits that receive grants and contracts, but that do not have the
capacity themselves to meet the extensive legal mandates and administrative requirements
of their sponsors.
All this and more is accomplished by a relative handful of highly skilled and motivated
Foundation central office staff, who work in close partnership with their CUNY colleagues
and employ state-of-the-art electronic tools. They contribute to the success of those whose
stories are told in the following pages.