MSCHE Self Study April 2021

Income from Research Grants Total income (direct and indirect costs) from research grants for 2017 ‐ 18, 2018 ‐ 19 and 2019 ‐ 20 are $2.9 million, $2.7 million and $3.1 million, respectively. Grant activity is managed through the Research Foundation (RF) of the State University of New York, which computes and negotiates the indirect reimbursement rates paid by granting agencies. Current rates, through 6/30/22, are 62% of modified total direct costs for most federal awards and 71% for non ‐ federal awards. The College maintains a relationship with the RF central office that facilitates financial and operational compliance with sponsored programs issued through federal and state funding agencies, foundations and industry. The RF provides critical financial and accounting services and reports as well as management and training for administrators and principal investigators and legal and intellectual property management services. COVID ‐ 19 Impact: Sponsored Program activity from Research Grants increased slightly from prior year (+ $336K). This was in spite of research activities being suspended from mid ‐ March until early June and was due to some researchers being very active in the first three quarters of the year. Clinical Income Built into the College’s budget is an expectation for clinical income from the operations of the University Eye Center (UEC). This income is derived from patient fees (self ‐ paid) and reimbursement from Medicaid, Medicare and a variety of health care third party plans, as well as income from contractual relationships with various satellite locations. For 2017 ‐ 18, 2018 ‐ 19 and 2019 ‐ 20 total revenues from these sources were $10.4, $10.6 and $9.1 million, respectively. 15 COVID ‐ 19 Impact : Our local clinics and satellites have experienced a substantial reduction of patients. Between March 1, 2020 and Dec. 31, 2020, we lost $2.71M . Recently, patient encounters have increased to near pre ‐ pandemic numbers; we have collected $4.2M six months into the fiscal year. Philanthropy A major source of philanthropic activity has been through the campus ‐ related foundation, the Optometric Center of New York (OCNY), which has raised (including interest and dividends) an average of about $1,271,305 annually from FY 2014 ‐ 15 to FY 2018 ‐ 2019. The Foundation’s total assets as of June 30, 2020 equaled $11,015,475. The Foundation has recently concluded a $2.5 million mini ‐ campaign in support of a new pediatric unit on the building’s 10 th floor and plans to

15 2029 ‐ 20 revenues were impacted by COVID ‐ 19.

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