Disable all preview features
There was a problem enabling Giving Basket donations for this page. If you're looking to donate you can try refreshing the page.
If the problem perisists you can contact us or email: helpandsupport@charitynavigator.org.
You can include the Cart ID: Not assigned

Education : Scholarship and Financial Support

Fashion Institute of Technology Foundation

Nurturing and educating the future leaders of the fashion industry

79.97

236 West 27th Street Suite 500
New York, NY 10001
tel: (212) 217-4100   Web Site
EIN: 13-5675757

Board Leadership
Gary Sheinbaum
Chair

CEO
Philips McCarty
Executive Director

Charity Navigator

Error attempting donation

You're too fast!

Your donation attempt encountered a problem. Please refresh the page to try again.

You're faster than our page! Give the page a little longer to finish loading and try your donation again.

 
 
  Score
(out of 100)
Rating
Overall Score & Rating 79.97
  Financial 73.91
  Accountability & Transparency 89.00
This rating was published 02/01/2022 and includes data from FY2020, the most recent 990 received at that time.

Founded in 1944, when apparel industry leaders obtained a charter to establish a fashion institute of design and technology, The Fashion Institute of Technology Foundation was born, to nurture and educate the future leaders of the fashion industry. The FIT Foundation serves as an advisory and fundraising body to FIT. The special relationship between the college and foundation creates valuable opportunities to share knowledge and experience. Board members, who include today's leaders and innovators, serve on panels and appear as special lecturers, enabling students to meet outstanding representatives from the fields of industrial production, labor, design, merchandising, and the arts.

Founded in 1944, when apparel industry leaders obtained a charter to establish a fashion institute of design and technology, The Fashion Institute of Technology Foundation was born, to nurture and educate the future leaders of the fashion industry. The FIT Foundation serves as an advisory and fundraising body to FIT. The special relationship between the college and foundation creates valuable opportunities to share knowledge and experience. Board members, who include today's leaders and innovators, serve on panels and appear as special lecturers, enabling students to meet outstanding representatives from the fields of industrial production, labor, design, merchandising, and the arts.

Financial

73.91

Accountability & Transparency

89.00

This rating was published 02/01/2022 and includes data from FY2020, the most recent 990 received at that time.
Overall Rating Chart
  Program Expenses
(Percent of the charity's total expenses spent on the programs
and services it delivers)
63.7%
  Administrative Expenses 32.2%
  Fundraising Expenses 4.0%
  Fundraising Efficiency $0.04
  Working Capital Ratio (years) 7.58
  Program Expenses Growth -12.0%
  Liabilities to Assets 4.7%
All data for Financial Performance Metrics calculations was provided by Fashion Institute of Technology Foundation on recent 990s filed with the IRS.
All data for Financial Performance Metrics calculations was provided by Fashion Institute of Technology Foundation on recent 990s filed with the IRS.

Highly Rated

Charity Name & State Overall Score Overall Rating
Fashion Institute of Technology Foundation (NY) 79.97
JELF - Jewish Educational Loan Fund (GA) 92.19
Grand Island Public Schools Foundation (NE) 93.32
State University College at Oneonta Foundation Corporation (NY) 95.15
Peninsula Education Foundation (CA) 91.16

Compare These Charities (Highly Rated)

REVENUE  
Contributions  
   Contributions, Gifts & Grants $7,364,520
   Federated Campaigns $0
   Membership Dues $90,869
   Fundraising Events $0
   Related Organizations $0
   Government Grants $0
Total Contributions $7,455,389
   Program Service Revenue $0
Total Primary Revenue $7,455,389
   Other Revenue $1,128,193
TOTAL REVENUE $8,583,582
   
EXPENSES  
   Program Expenses $2,626,503
   Administrative Expenses $1,777,231
   Fundraising Expenses $185,084
TOTAL FUNCTIONAL EXPENSES $4,588,818
   
Payments to Affiliates $0
Excess (or Deficit) for the year $3,994,764
   
Net Assets $55,312,010

Program names and associated costs are listed for the top programs as reported on the charity's most recently filed Form 990. The top programs displayed will include the largest three programs, or those programs covering at least 60% of the charity's total expenses, whichever comes first.

Program Name Amount Spent % of Program Expenses
Support for Fashion Institute of Technology $1,475,202 56.2%
Scholarships to Students of Fashion Institute of Technology $1,151,301 43.8%

Ratings History

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2020-06 02/01/2022 79.97
2019-06 12/01/2020 81.18
2018-06 11/01/2019 81.75
2017-06 07/01/2018 82.99
2016-06 12/22/2017 84.93
2015-06 08/01/2017 83.68

The data displayed on this tab is provided by the IRS in the form of Publication 78 and the Business Master File (BMF).

EIN 13-5675757
Name in IRS Master File FASHION INSTITUTE OF TECHOLOGY FOUNDATION
NTEE Code [Not Provided by IRS]
NTEE Classification [Not Provided by IRS]
NTEE Type [Not Provided by IRS]
Classification Educational Organization
Subsection 501(c)(3)  (View the list of codes)
Activities (59) Other school related activities
(922) Endowment fund or financial services
(34) Alumni association or group
Foundation Status Organization which receives a substantial part of its support from a governmental unit or the general public   170(b)(1)(A)(vi)
Deductibility Contributions are deductible
Affiliation Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations).
Group Name [Not Applicable]
Ruling Date January, 1946
Filing Requirement 990 (all other) or 990EZ return
Fiscal Year End June
IRS Forms 990
(provided courtesy of Foundation Center)
(Log In or Register Now to View Forms 990!)
  • June, 2017
  • June, 2016
  • June, 2015
  • June, 2014
  • June, 2013
Compensation % of Expenses Paid to Title
$44,672 0.97% Joyce F. Brown Chief Executive Officer
Other Salaries of Note
$124,932 2.72% Victoria Guranowski Director, Special Events
$100,009 2.17% Tina Genovese-Cherna Director, Operations

Highly Rated

Charity Name & State Overall Score Overall Rating
Fashion Institute of Technology Foundation (NY) 79.97
Manhattan Beach Education Foundation (CA) 92.92
Israel Scholarship Education Foundation (NY) 86.29
Highland Park Education Foundation (TX) 95.05
Peninsula Education Foundation (CA) 91.16

Compare These Charities (Highly Rated)

Are you the representative for this organization? If so, click here to access the application form. As an official representative you will have the ability to update some of the information on this page.

Charity Contact Info

Fashion Institute of Technology Foundation
236 West 27th Street
Suite 500
New York, NY 10001
tel: (212) 217-4100
fax: (212) 217-4101
EIN: 13-5675757

Visit Web Site

Board Leadership

Gary Sheinbaum
Chair

CEO

Philips McCarty
Executive Director

Join Our Mailing List

Join over 400,000 other informed givers and get updates on charity ratings, new features, hot topics, and tips for donating.