Subject:

Urge your lawmakers to increase transparency in SUNY and CUNY foundation finances.

Dear Legislator, 

I am a constituent who cares deeply about transparency in our public institutions. The Research Foundation, campus foundations and other affiliated entities at SUNY and CUNY exist to support the public missions of their respective university systems. However, their financial operations remain largely opaque. I urge you to pass A.5733 (Hyndman) to ensure transparency for the Research Foundation. A companion bill has already passed in the Senate. 

These foundations have expanded far beyond their original scope and receive hundreds of millions of dollars each year. The foundations are now involved in the operation and management of student housing and healthcare facilities and many other functions. Yet despite these foundations carrying out public work with public resources, they routinely refuse requests for financial information from the public and the press, citing their status as private corporations. 

Because these foundations deal with increasing amounts of taxpayer dollars, it warrants annual reporting. These entities operate with public dollars and advance public missions, it is only right that the public know how those dollars are being spent. 

Please support the legislation to hold these foundations accountable. It would require them to produce annual reports disclosing the financial records of their research foundations, including vendors, employees and general accounting information. It would apply to all research foundations owned and operated by public and community colleges, ensuring that these entities are operating with the transparency the public expects. 

Sincerely,

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