Form 990 for tax year 2022
Filed by RARITAN VALLEY COMMUNITY COLLEGE FOUNDATION.
Totals
- Total revenue
- $1,049,932
- Total expenses
- $1,195,609
- Contributions and grants received
- $929,962
- Grants paid
- $1,010,574
- Program service revenue
- $0
- Investment income
- $119,970
- Other revenue
- $0
- Total assets, end of year
- $4,990,871
- Total liabilities, end of year
- $56,994
- Net assets or fund balances, end of year
- $4,933,877
- Program services expenses (Part IX)
- $1,016,574
- Management and general expenses
- $147,265
- Fundraising expenses
- $31,770
- Program service expenses (Part III)
- $1,016,574
Program services were 85.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$76,522
-
1f · All other contributions, gifts and grants
$853,440
-
1g · Noncash contributions included above
$29,217
-
3 · Investment income
total $102,521 · excluded $102,521
-
7a · Gross sales of assets other than inventory
securities $471,413
-
7b · Less cost or other basis and sales expenses
securities $453,964
-
7c · Gain or loss
securities $17,449
-
7d · Net gain or loss
total $17,449 · excluded $17,449
-
8a · Fundraising events: gross income
$66,846
-
8a · Fundraising events: contributions included on line 1c
$76,522
-
8b · Fundraising events: direct expenses
$66,846
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $525,112 · program services $525,112
-
2 · Grants to domestic individuals
total $485,462 · program services $485,462
-
11f · Fees: investment management
total $16,924 · management and general $16,924
-
14 · Information technology
total $6,000 · program services $6,000
-
24a · Other expenses: ADMINISTRATIVE EXPENSES
total $130,341 · management and general $130,341
-
24b · Other expenses: PRIZES & AWARDS
total $23,162 · fundraising $23,162
-
24c · Other expenses: STUDENT ACTIVITIES
total $8,608 · fundraising $8,608
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $6,062 · end of year $33,494
-
2 · Savings and temporary cash investments
beginning of year $968,828 · end of year $981,126
-
3 · Pledges and grants receivable
beginning of year $543,637 · end of year $382,239
-
11 · Investments: publicly traded securities
beginning of year $3,406,682 · end of year $3,589,857
-
15 · Other assets
beginning of year $4,000 · end of year $4,155
-
17 · Accounts payable and accrued expenses
beginning of year $34,999 · end of year $15,916
-
25 · Other liabilities
beginning of year $14,738 · end of year $41,078
-
27 · Net assets without donor restrictions
beginning of year $125,771 · end of year $74,189
-
28 · Net assets with donor restrictions
beginning of year $4,753,701 · end of year $4,859,688
Mission and programs · 2022
Mission
THE MISSION OF THE FOUNDATION IS TO RAISE FUNDS ABOVE AND BEYOND PUBLIC TUITION SOURCES AND TO PROMOTE AWARENESS OF THE INSTITUTION. THE FOUNDATION DIRECTS THESE FUNDS TO ASSIST THE COLLEGE IN PROVIDING AFFORDABLE, ACCESSIBLE AND QUALITY EDUCATIONAL AND CULTURAL EXPERIENCES TO THE COMMUNITY.
Activities or mission (Part I)
THE MISSION OF THE FOUNDATION IS TO RAISE FUNDS ABOVE AND BEYOND THE PUBLIC TUITION SOURCES AND TO PROMOTE AWARENESS OF THE INSTITUTION. THE FOUNDATION DIRECTS THESE FUNDS TO ASSIST THE COLLEGE IN PROVIDING AFFORDABLE, ACCESSIBLE AND QUALITY EDUCATIONAL AND CULTURAL EXPERIENCES TO THE COMMUNITY.
-
EDUCATIONAL ACTIVITIES AND ASSISTANCE TO RARITAN VALLEY COMMUNITY COLLEGE'S 6,321 STUDENTS.
Expenses $1,016,574 · Grants $1,010,574
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dr Michael J McDonoughDR MICHAEL J MCDONOUGH
DIRECTOR (EX-OFFICIO)
- Total calculated
- $453,209
- From this org
- $0
- From related orgs
- $365,521
- Other
- $87,688
- Hours/week
- 2 + 37.5 related
Schedule J breakdown matched by us
- Base
- $0 + $277,094 related
- Bonus
- $0 + $15,000 related
- Other
- $0 + $73,427 related
- Deferred
- $0 + $49,000 related
- Nontaxable benefits
- $0 + $38,688 related
- Filer's total
- $0 + $453,209 related
-
John TrojanJOHN TROJAN
TREASURER
- Total calculated
- $258,980
- From this org
- $0
- From related orgs
- $225,967
- Other
- $33,013
- Hours/week
- 3 + 37.5 related
Schedule J breakdown matched by us
- Base
- $0 + $205,547 related
- Bonus
- $0
- Other
- $0 + $20,420 related
- Deferred
- $0 + $31,726 related
- Nontaxable benefits
- $0 + $1,287 related
- Filer's total
- $0 + $258,980 related
-
Allan BoomerALLAN BOOMER
CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Elissa SantoELISSA SANTO
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Gary WoodringGARY WOODRING
ASSISTANT TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Andrew BorkinANDREW BORKIN
SECRETARY, THRU 04/2023
- Total calculated
- $0
- Hours/week
- 3
-
Rich BerlinerRICH BERLINER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
David BunevichDAVID BUNEVICH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Anthony V CavaANTHONY V CAVA
DIRECTOR, THRU 01/2023
- Total calculated
- $0
- Hours/week
- 2
-
Vince CirianniVINCE CIRIANNI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Alyssa DardenALYSSA DARDEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Patrick J Delaney MBAPATRICK J DELANEY MBA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Cheryl A ErricoCHERYL A ERRICO
DIRECTOR, THRU 08/2022
- Total calculated
- $0
- Hours/week
- 2
-
Sebastian GalvezSEBASTIAN GALVEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Paige GreenfieldPAIGE GREENFIELD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Joel F Reyes-GuzmanJOEL F REYES-GUZMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Parag S JategaonkarPARAG S JATEGAONKAR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Stacey KimminsSTACEY KIMMINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jomil LondonJOMIL LONDON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Gene C McCarthyGENE C MCCARTHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Raquel MuraRAQUEL MURA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jeanne K PerantoniJEANNE K PERANTONI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Paul StramagliaPAUL STRAMAGLIA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Steven A ReichmanSTEVEN A REICHMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Erika Tooman EsqERIKA TOOMAN ESQ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jimena TorresJIMENA TORRES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Dan Van TranDAN VAN TRAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Michael MarionMICHAEL MARION
EXECUTIVE DIRECTOR
- Total calculated
- $201,098
- From this org
- $0
- From related orgs
- $186,432
- Other
- $14,666
- Hours/week
- 2 + 37.5 related
Schedule J breakdown matched by us
- Base
- $0 + $171,934 related
- Bonus
- $0
- Other
- $0 + $14,498 related
- Deferred
- $0 + $13,379 related
- Nontaxable benefits
- $0 + $1,287 related
- Filer's total
- $0 + $201,098 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
RARITAN VALLEY COMMUNITY COLLEGE
$525,112
STUDENT PROGRAMS
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
RARITAN VALLEY COMMUNITY COLLEGE
501(C)(3) · EDUCATION · NJ
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411369349317196
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