Skip to content
Nonprofiteer
← RUTGERS UNIVERSITY FOUNDATION

Form 990 for tax year 2024

Filed by RUTGERS UNIVERSITY FOUNDATION.

Totals

Total revenue
$137,157,185
Total expenses
$150,061,350
Contributions and grants received
$97,589,384
Grants paid
$111,591,804
Program service revenue
$206,037
Investment income
$1,955,941
Other revenue
$37,405,823
Total assets, end of year
$96,478,926
Total liabilities, end of year
$32,972,852
Net assets or fund balances, end of year
$63,506,074
Program services expenses (Part IX)
$131,242,709
Management and general expenses
$15,435,997
Fundraising expenses
$3,382,644
Program service expenses (Part III)
$131,242,709

Program services were 87.5% 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

    $14,885

  • 1f · All other contributions, gifts and grants

    $97,574,499

  • 1g · Noncash contributions included above

    $11,140,585

  • 2a · Program service revenue: PROSPECT ENGAGEMENT

    total $206,037 · related or exempt $206,037

  • 3 · Investment income

    total $1,913,700 · excluded $1,913,700

  • 6a · Gross rents

    real property $3,085

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $3,085

  • 6d · Net rental income or loss

    total $3,085 · excluded $3,085

  • 7a · Gross sales of assets other than inventory

    securities $21,073,339

  • 7b · Less cost or other basis and sales expenses

    securities $21,031,098

  • 7c · Gain or loss

    securities $42,241

  • 7d · Net gain or loss

    total $42,241 · excluded $42,241

  • 8a · Fundraising events: gross income

    $9,630

  • 8a · Fundraising events: contributions included on line 1c

    $14,885

  • 8b · Fundraising events: direct expenses

    $13,728

  • 8c · Net income from fundraising events

    total -$4,098 · excluded -$4,098

  • 9a · Gaming: gross income

    $1,590

  • 9b · Gaming: direct expenses

    $1,250

  • 9c · Net income from gaming

    total $340 · excluded $340

  • 11a · Other revenue: ADMIN FEES & SUPPORT

    total $37,405,394 · related or exempt $37,405,394

  • 11b · Other revenue: AFFINITY PROGRAM

    total $805 · unrelated business $805

  • 11d · All other revenue

    total $297 · excluded $297

  • 11e · Other revenue, total

    $37,406,496

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $111,591,804 · program services $111,591,804

  • 5 · Compensation of officers, directors and key employees

    total $2,263,526 · management and general $2,263,526

  • 7 · Other salaries and wages

    total $19,713,729 · program services $13,536,125 · management and general $6,177,604

  • 8 · Pension plan contributions

    total $1,817,116 · program services $1,301,784 · management and general $515,332

  • 9 · Other employee benefits

    total $2,276,604 · program services $939,512 · management and general $1,337,092

  • 10 · Payroll taxes

    total $2,137,038 · program services $1,410,799 · management and general $726,239

  • 11a · Fees: management

    total $2,141,435 · program services $744,665 · management and general $1,396,770

  • 11b · Fees: legal

    total $41,500 · program services $14,893 · management and general $26,607

  • 11c · Fees: accounting

    total $240,005 · management and general $240,005

  • 11e · Fees: professional fundraising services

    total $678,901 · fundraising $678,901

  • 11f · Fees: investment management

    total $8,217 · management and general $8,217

  • 11g · Fees: other

    total $560,485 · program services $448,680 · management and general $111,805

  • 12 · Advertising and promotion

    total $148,639 · program services $125,163 · management and general $23,476

  • 13 · Office expenses

    total $449,473 · program services $84,411 · management and general $365,062

  • 14 · Information technology

    total $1,110,923 · program services $195,403 · management and general $915,520

  • 16 · Occupancy

    total $43,327 · program services $4,803 · management and general $38,524

  • 17 · Travel

    total $650,846 · program services $411,814 · management and general $239,032

  • 19 · Conferences, conventions and meetings

    total $409,644 · program services $105,617 · management and general $304,027

  • 20 · Interest

    total $10,741 · management and general $10,741

  • 23 · Insurance

    total $208,393 · management and general $208,393

  • 24a · Other expenses: DONOR & ALUMNI EVENTS

    total $2,703,743 · fundraising $2,703,743

  • 24b · Other expenses: EQUIPMENT PURCHASES

    total $269,784 · program services $10,458 · management and general $259,326

  • 24c · Other expenses: PRINTING & PUBLICATIONS

    total $207,533 · program services $189,755 · management and general $17,778

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $113,859 · management and general $113,859

  • 24e · All other expenses

    total $264,085 · program services $127,023 · management and general $137,062

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $16,128,245 · end of year $33,597,976

  • 3 · Pledges and grants receivable

    beginning of year $60,632,136 · end of year $46,734,757

  • 4 · Accounts receivable

    beginning of year $11,702,662 · end of year $1,898,646

  • 9 · Prepaid expenses and deferred charges

    beginning of year $671,352 · end of year $956,344

  • 11 · Investments: publicly traded securities

    beginning of year $12,213,329 · end of year $12,419,314

  • 12 · Investments: other securities

    beginning of year $4,147

  • 14 · Intangible assets

    beginning of year $256,755 · end of year $411,729

  • 15 · Other assets

    beginning of year $445,306 · end of year $460,160

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,054,590 · end of year $3,850,705

  • 19 · Deferred revenue

    beginning of year $3,961,887 · end of year $4,298,745

  • 25 · Other liabilities

    beginning of year $8,628,600 · end of year $24,823,402

  • 27 · Net assets without donor restrictions

    beginning of year -$224,093 · end of year $1,137,163

  • 28 · Net assets with donor restrictions

    beginning of year $76,632,948 · end of year $62,368,911

Mission and programs · 2024

Mission

THE SOLE MISSION OF THE RUTGERS UNIVERSITY FOUNDATION, SINCE ITS FOUNDING IN 1973, IS TO SUPPORT RUTGERS, THE STATE UNIVERSITY, AND HELP IT ATTAIN EXCELLENCE IN EDUCATION, RESEARCH, AND PUBLIC SERVICE (CONTINUED ON SCHEDULE O) BY BUILDING RELATIONSHIPS WITH ALUMNI, PARENTS, FRIENDS, CORPORATIONS, FOUNDATIONS, AND OTHER SUPPORTERS, THE FOUNDATION RAISES MONEY FOR, AND MATCHES DONORS INTERESTS TO, RUTGERS PRIORITIES, AS SET FORTH BY UNIVERSITY LEADERSHIP.

Activities or mission (Part I)

TO SUPPORT RUTGERS, THE STATE UNIVERSITY, AND HELP IT ATTAIN EXCELLENCE (CONTINUED ON SCHEDULE O) IN EDUCATION, RESEARCH AND PUBLIC SERVICE BY BUILDING RELATIONSHIPS WITH SUPPORTERS TO RAISE MONEY FOR RUTGERS.

  • THE FOUNDATION SERVES AS THE PRIMARY FUNDRAISING ENTITY FOR RUTGERS UNIVERSITY. A SIGNIFICANT PORTION OF THE FOUNDATION'S EXPENSES CONSISTS OF DISTRIBUTIONS TO THE UNIVERSITY FOR DONOR-DESIGNATED PURPOSES, INCLUDING SCHOLARSHIPS, FACULTY SUPPORT, CAPITAL PROJECTS, AND OTHER INSTITUTIONAL PRIORITIES. ACCORDINGLY, TOTAL EXPENSES INCLUDE SUBSTANTIAL PASS-THROUGH FUNDING THAT DIRECTLY SUPPORTS THE UNIVERSITY'S MISSION.

    Expenses $131,242,709 · Grants $111,591,804 · Revenue $37,611,431

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • AMY L TOWERS

    CHAIR/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AMY MANSUE

    EX-OFFICIO/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANN M STOCK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRUCE BINGHAM

    OUTGOING DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRUCE P KERZIC

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DANIEL DIFILIPPO

    DIRECTOR/CHAIR

    Total calculated
    $0
    Hours/week
    1

  • DONALD LOMURRO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH J MCNEILLY

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • FRANK HUNDLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GARY W CHROPUVKA

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • GLORIA VANDERHAM

    DIRECTOR/EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • J MICHAEL GOWER

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JAMES BERG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN SIVOLELLA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JONATHAN HOLLOWAY

    EX-OFFICIO/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KENNETH R JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KIMBERLY A HOPELY

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • LISA DOLLY

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MARGARET T DERRICK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARK P HERSHHORN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARY PAPAMARKOU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MIA CHRISTINE PARK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PEGGY GUILIANO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PETER TVERDOV

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PHILIP SCALO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • REEMA PURI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD KENT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD STANZIONE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT FALZON

    OUTGOING DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SEAN M PATTWELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUBHA BARRY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TILAK LAL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM E BEST

    OUTGOING DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHER P ZRALY

    ASSOCIATE TREASURER

    Total calculated
    $321,632
    From this org
    $294,268
    From related orgs
    $0
    Other
    $27,364
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $290,704
    Bonus
    $0
    Other
    $3,564
    Deferred
    $23,392
    Nontaxable benefits
    $3,972
    Filer's total
    $321,632

  • DUNCAN L MACMILLAN

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • MARK ANTONUCCI

    ASSISTANT SECRETARY

    Total calculated
    $400,659
    From this org
    $347,566
    From related orgs
    $0
    Other
    $53,093
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $347,026
    Bonus
    $0
    Other
    $540
    Deferred
    $28,490
    Nontaxable benefits
    $24,603
    Filer's total
    $400,659

  • VARSHA NAKUM

    ASSISTANT SECRETARY

    Total calculated
    $222,835
    From this org
    $157,693
    From related orgs
    $0
    Other
    $65,142
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $155,371
    Bonus
    $0
    Other
    $2,322
    Deferred
    $13,431
    Nontaxable benefits
    $51,711
    Filer's total
    $222,835

  • CHARLES A WRIGHT III

    VICE PRESIDENT

    Total calculated
    $271,754
    From this org
    $219,719
    From related orgs
    $0
    Other
    $52,035
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $217,397
    Bonus
    $0
    Other
    $2,322
    Deferred
    $18,315
    Nontaxable benefits
    $33,720
    Filer's total
    $271,754

  • IRENE O'BRIEN

    OUTGOING VICE PRESIDENT

    Total calculated
    $241,052
    From this org
    $199,375
    From related orgs
    $0
    Other
    $41,677
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $198,125
    Bonus
    $0
    Other
    $1,250
    Deferred
    $12,463
    Nontaxable benefits
    $29,214
    Filer's total
    $241,052

  • ROBIN C SEMPLE

    VICE PRESIDENT

    Total calculated
    $280,571
    From this org
    $233,360
    From related orgs
    $0
    Other
    $47,211
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $229,796
    Bonus
    $0
    Other
    $3,564
    Deferred
    $19,139
    Nontaxable benefits
    $28,072
    Filer's total
    $280,571

  • SHAWN TUCKER

    OUTGOING VICE PRESIDENT

    Total calculated
    $322,700
    From this org
    $252,923
    From related orgs
    $0
    Other
    $69,777
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $252,383
    Bonus
    $0
    Other
    $540
    Deferred
    $21,266
    Nontaxable benefits
    $48,511
    Filer's total
    $322,700

  • WILLIAM J GREEN

    OUTGOING VICE PRESIDENT

    Total calculated
    $468,006
    From this org
    $384,302
    From related orgs
    $0
    Other
    $83,704
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $383,060
    Bonus
    $0
    Other
    $1,242
    Deferred
    $32,215
    Nontaxable benefits
    $51,489
    Filer's total
    $468,006

  • DENISE P GAVALA

    OUTGOING SR. ASSOC. VICE PRESIDENT

    Total calculated
    $378,947
    From this org
    $346,093
    From related orgs
    $0
    Other
    $32,854
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $253,280
    Bonus
    $0
    Other
    $92,813
    Deferred
    $19,471
    Nontaxable benefits
    $13,383
    Filer's total
    $378,947

  • ERIN VARGA

    ASSC.VICE PRESIDENT

    Total calculated
    $223,071
    From this org
    $191,332
    From related orgs
    $0
    Other
    $31,739
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $190,522
    Bonus
    $0
    Other
    $810
    Deferred
    $15,751
    Nontaxable benefits
    $15,988
    Filer's total
    $223,071

  • KRISTIN DIFOGLIO

    EXECUTIVE DIRECTOR

    Total calculated
    $235,352
    From this org
    $175,600
    From related orgs
    $0
    Other
    $59,752
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $173,278
    Bonus
    $0
    Other
    $2,322
    Deferred
    $15,112
    Nontaxable benefits
    $44,640
    Filer's total
    $235,352

  • LOREN SAVAGE

    ASSC. VICE PRESIDENT

    Total calculated
    $259,553
    From this org
    $217,047
    From related orgs
    $0
    Other
    $42,506
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $215,996
    Bonus
    $0
    Other
    $1,051
    Deferred
    $10,769
    Nontaxable benefits
    $31,737
    Filer's total
    $259,553

  • MARCO BATTAGLIA

    SR ADVISOR

    Total calculated
    $317,664
    From this org
    $246,791
    From related orgs
    $0
    Other
    $70,873
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $245,549
    Bonus
    $0
    Other
    $1,242
    Deferred
    $21,062
    Nontaxable benefits
    $49,811
    Filer's total
    $317,664

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

  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

PART I, LINE 4A
DENISE GAVALA - $90,848

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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • RUF NYC LLC

    LICENSE · NJ · income $0 · assets $0

    Directly controlled by RUTGERS UNIVERSITY FOUNDATION

Provenance

Return type
form_990
Tax year
2024
Filed
12 May 2026
IRS schema version
2024v5.5
Source object
202611339349309816

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.