Page 2 - RFCUNY Annual Report 2016

Letter from the Chairman of the Board
and President — page 1

Introduction — page 2
Helping the People Who
Change the World — page 8

2016 Financial Statements — page 22
Corporate Information — page 41

A Word About Award Activity

The annual report reflects “award activity” or
gross sponsor commitments recorded in the fiscal
year. On the other hand, the Grants and Contracts
sections of the audited financial statements reflect
fiscal year “expenses” on sponsored awards. In
many cases, expenses are actually lower than the
award activity. The main reason for this would be
multi-year awards, which are recorded in their
entirety when received but expended over mul- Acknowledgments
tiple years. The reader will, therefore, note that The Research Foundation wishes to
the figures in the audited financial statements thank those whose contributions led
differ from those in the report narrative and charts to the development of the hard copy
because they refer to different measures. and online versions of this report:
Rene Cruz, Gavita Harris,
For a complete listing of 2016 awards, go to Wendy Patitucci, Renato Rodriguez,
www.rfcuny.org/annualreport James Suarez, and Emily Wight.