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← PRINCETON AREA COMMUNITY FOUNDATION INC

Form 990 for tax year 2023

Filed by PRINCETON AREA COMMUNITY FOUNDATION INC.

Totals

Total revenue
$25,299,437
Total expenses
$19,550,271
Contributions and grants received
$23,131,978
Grants paid
$15,648,722
Program service revenue
$0
Investment income
$1,718,900
Other revenue
$448,559
Total assets, end of year
$272,241,294
Total liabilities, end of year
$83,946,053
Net assets or fund balances, end of year
$188,295,241
Program services expenses (Part IX)
$17,562,897
Management and general expenses
$864,183
Fundraising expenses
$1,123,191
Program service expenses (Part III)
$17,562,897

Program services were 89.8% 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.

  • 1f · All other contributions, gifts and grants

    $23,131,978

  • 1g · Noncash contributions included above

    $4,108,254

  • 3 · Investment income

    total $2,434,236 · unrelated business $0 · excluded $2,434,236

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $15,194,319

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

    securities $15,909,655

  • 7c · Gain or loss

    securities -$715,336

  • 7d · Net gain or loss

    total -$715,336 · excluded -$715,336

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: ADMINISTRATIVE FEES

    total $448,559 · related or exempt $448,559

  • 11e · Other revenue, total

    $448,559

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,648,722 · program services $15,648,722

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $576,619 · program services $133,234 · management and general $310,151 · fundraising $133,234

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,628,632 · program services $930,700 · management and general $109,547 · fundraising $588,385

  • 8 · Pension plan contributions

    total $77,004 · program services $45,015 · management and general $3,799 · fundraising $28,190

  • 9 · Other employee benefits

    total $155,333 · program services $85,469 · management and general $15,269 · fundraising $54,595

  • 10 · Payroll taxes

    total $156,487 · program services $76,678 · management and general $28,168 · fundraising $51,641

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $17,095 · program services $640 · management and general $16,455

  • 11c · Fees: accounting

    total $43,693 · management and general $43,693

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $3,905 · management and general $3,905

  • 11g · Fees: other

    total $407,201 · program services $244,530 · management and general $162,671

  • 12 · Advertising and promotion

    total $158,240 · program services $80,615 · fundraising $77,625

  • 13 · Office expenses

    total $154,577 · program services $60,464 · management and general $75,511 · fundraising $18,602

  • 14 · Information technology

    total $253,153 · program services $124,046 · management and general $45,567 · fundraising $83,540

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $193,367 · program services $93,875 · management and general $36,270 · fundraising $63,222

  • 17 · Travel

    total $7,155 · program services $5,056 · management and general $741 · fundraising $1,358

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $27,733 · program services $13,589 · management and general $4,992 · fundraising $9,152

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $19,101 · program services $9,360 · management and general $3,438 · fundraising $6,303

  • 23 · Insurance

    total $22,254 · program services $10,904 · management and general $4,006 · fundraising $7,344

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,758 · end of year $18,388

  • 2 · Savings and temporary cash investments

    beginning of year $29,020,716 · end of year $23,504,547

  • 3 · Pledges and grants receivable

    beginning of year $1,643,238 · end of year $11,752,887

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $132,664 · end of year $126,567

  • 10a · Land, buildings and equipment: cost or other basis

    $568,507

  • 10b · Land, buildings and equipment: accumulated depreciation

    $181,888

  • 10c · Land, buildings and equipment, net

    beginning of year $7,906 · end of year $386,619

  • 11 · Investments: publicly traded securities

    beginning of year $65,352,682 · end of year $44,078,139

  • 12 · Investments: other securities

    beginning of year $143,702,638 · end of year $188,525,766

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $301,926 · end of year $3,848,381

  • 17 · Accounts payable and accrued expenses

    beginning of year $62,665 · end of year $145,036

  • 18 · Grants payable

    beginning of year $1,224,053 · end of year $2,315,105

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $72,342,331 · end of year $78,006,728

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $3,479,184

  • 27 · Net assets without donor restrictions

    beginning of year $164,616,440 · end of year $176,214,077

  • 28 · Net assets with donor restrictions

    beginning of year $1,935,039 · end of year $12,081,164

Mission and programs · 2023

Mission

THE COMMUNITY FOUNDATION PROMOTES PHILANTHROPY TO ADVANCE THE WELL-BEING OF OUR COMMUNITIES. THE COMMUNITY FOUNDATION HAS SEVERAL GRANTMAKING INITIATIVES IN THE AREAS OF EDUCATION, ARTS, BASIC HUMAN NEEDS, CAPACITY BUILDING, AND MORE.

Activities or mission (Part I)

THE PRINCETON AREA COMMUNITY FOUNDATION PROMOTES PHILANTHROPY THROUGH EDUCATION, GRANT MAKING, AND BY CREATING A NETWORK OF DONORS, ADVISORS AND NONPROFIT CORPORATIONS.

  • The Community Foundation is an active grantmaker through several competitive grant programs; All Kids Thrive is addressing high rates of chronic absenteeism in local public schools, and Community Impact grants support nonprofits working to improve the quality of life for children,families, and communities. The Community Foundation also makes grants from Donor Advised,Designated,Nonprofit and Field of Interest funds and supports giving circles including the Fund for Women and Girls and The NextGen Giving Circle (See Schedule O for more details).

    Expenses $17,562,897 · Grants $15,648,722 · Revenue $448,559

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JEFFREY VEGA Dec'd 1282024

    PRESIDENT & CEO

    Total calculated
    $324,165
    From this org
    $284,965
    From related orgs
    $0
    Other
    $39,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $263,530
    Bonus
    $21,435
    Other
    $0
    Deferred
    $16,077
    Nontaxable benefits
    $23,123
    Filer's total
    $324,165

  • Laura Longman

    COO/CFO

    Total calculated
    $249,746
    From this org
    $223,163
    From related orgs
    $0
    Other
    $26,583
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,030
    Bonus
    $20,133
    Other
    $0
    Deferred
    $12,080
    Nontaxable benefits
    $14,503
    Filer's total
    $249,746

  • Marcia Shackelford

    CHIEF PHILANTHROPY OFFICER

    Total calculated
    $230,999
    From this org
    $196,132
    From related orgs
    $0
    Other
    $34,867
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,577
    Bonus
    $18,555
    Other
    $0
    Deferred
    $11,133
    Nontaxable benefits
    $23,734
    Filer's total
    $230,999

  • Lynne Toye

    EXEC DIR OF NEW JERSEY ARTS

    Total calculated
    $215,534
    From this org
    $191,862
    From related orgs
    $0
    Other
    $23,672
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,862
    Bonus
    $0
    Other
    $0
    Deferred
    $11,485
    Nontaxable benefits
    $12,187
    Filer's total
    $215,534

  • Nelida Valentin

    VICE PRESIDENT, GRANTS & PRGM

    Total calculated
    $209,471
    From this org
    $185,130
    From related orgs
    $0
    Other
    $24,341
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,330
    Bonus
    $16,800
    Other
    $0
    Deferred
    $10,080
    Nontaxable benefits
    $14,261
    Filer's total
    $209,471

  • Mike Nuno

    SENIOR DIECTOR OF PHILANTHROPY

    Total calculated
    $178,781
    From this org
    $159,096
    From related orgs
    $0
    Other
    $19,685
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,461
    Bonus
    $4,635
    Other
    $0
    Deferred
    $9,270
    Nontaxable benefits
    $10,415
    Filer's total
    $178,781

  • Michelle Sahn

    DIRECTOR OF COMMUNICATIONS

    Total calculated
    $143,881
    From this org
    $126,870
    From related orgs
    $0
    Other
    $17,011
    Hours/week
    40

  • Sonia Delgado Mga

    Board CHAIR - TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Anthony J Skip Cimino

    IMMEDIATE PAST CHAIR - TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Scot D Pannepacker Cpaabv

    Board SECRETARY - TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Michelle Everman CPA Cgma

    TREASURER - TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Nicole Bronzan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lovepreet Buttar

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Steve Downs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Peg Forrestel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr KATHRYN A KATE FOSTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Andrew K Golden CFA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Shannon Mason

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Heather Eshelman McCusker

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Rakia Reynolds

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Victoria Rivera-Cruz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John P Thurber

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Anne M Vanlent

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mike Van Wagner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Atiya Weiss

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tonya Woodland Mhrm Ms

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 7
THE ORGANIZATION PROVIDED INCENTIVE PAY TO PERSONS LISTED IN FORM 990, PART VII, SECTION A, LINE 1A DURING THE YEAR ENDED DECEMBER 31, 2023. THE FOUNDATION'S COMPENSATION PROGRAM WILL BE: FOCUSED ON A COMBINATION OF BASE SALARY AND INCENTIVE PAY WHICH, WHEN COMBINED, WILL PROVIDE COMPENSATION ABOVE THE MARKET MEDIAN CONSISTENT WITH THE BOARD OF TRUSTEES COMPENSATION PHILOSOPHY STATEMENT. THE INCENTIVE PAY COMPONENT WILL NOT BE ADDED TO BASE PAY AND WILL BE TARGETED ABOVE MARKET MEDIAN AT OR AROUND THE 65TH TO 85TH PERCENTILE. UNDER NO CIRCUMSTANCES WILL COMPENSATION BE CALCULATED AS A PERCENTAGE OF CONTRIBUTIONS.

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413199349315626

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

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