Page 43 - RFCUNY-2010AnnualReport

41

2010 2009

Governmental grants and contracts:

 National Science Foundation $ 31,983,904 26,433,799  Department of Health and Human Services 51,701,283 40,582,264  Department of Education 32,192,851 26,116,577  Other Federal sponsors 25,187,236 21,850,170  State sponsors 45,269,377 50,872,372  Municipal sponsors 75,601,807 79,110,790   Total governmental grants and contracts 261,936,458 244,965,972

Private grants and contracts:

 Corporations 5,281,197 4,750,477  Foundations 14,493,118 13,845,265  Other private 38,156,734 36,636,005   Total private grants and contracts 57,931,049 55,231,747

CUNY grants and contracts:

 PSC-CUNY research award program 3,851,589 3,945,230  CUNY miscellaneous 36,803,622 34,475,089   Total CUNY grants and contracts 40,655,211 38,420,319   Total grants and contracts $360,522,718 338,618,038

Grants and Contracts Expenses by Funding Source Years ended June 30, 2010 and 2009 (unaudited)

 Grants Plus made loans to one of its clients for working capital purposes. These loans were sup-ported by the client’s grants and contracts with fed-eral, state, and city agencies. As of June 30, 2010 and 2009, no outstanding loans were written off.

(12) Real Estate Tax Exemption

During fiscal years 2010 and 2009, the LLC obtained a real estate tax reduction amounting to approxi-mately $1,030,320 and $924,600 relating to an exemption for the portion of the Property used by CUNY as a not-for-profit, tax-exempt organization.

(13) Subsequent Events

The Organization evaluated events subsequent to June 30, 2010 and through November 17, 2010, the date on which the consolidated financial statements were available to be issued, the result of which had no impact on the Organization’s consolidated financial statements.