Form 990 for tax year 2022
Filed by ROWAN UNIVERSITY FOUNDATION INC.
Totals
- Total revenue
- $48,338,446
- Total expenses
- $18,801,322
- Contributions and grants received
- $37,329,380
- Grants paid
- $18,113,964
- Program service revenue
- $0
- Investment income
- $10,867,544
- Other revenue
- $141,522
- Total assets, end of year
- $391,588,315
- Total liabilities, end of year
- $1,163,414
- Net assets or fund balances, end of year
- $390,424,901
- Program services expenses (Part IX)
- $18,120,115
- Management and general expenses
- $681,207
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $18,120,115
Program services were 96.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Listed in Part VII
-
DR ALI HOUSHMAND
DIRECTOR (PRES., ROWAN UNIVERSITY)
- Total calculated
- $1,201,640
- From this org
- $0
- From related orgs
- $1,038,326
- Other
- $163,314
- Hours/week
- 1 + 54 related
Schedule J breakdown matched by us
- Base
- $0 + $621,660 related
- Bonus
- $0 + $94,258 related
- Other
- $0 + $322,408 related
- Deferred
- $0 + $88,000 related
- Nontaxable benefits
- $0 + $75,314 related
- Filer's total
- $0 + $1,201,640 related
-
DR JAMES GEORGE
DIRECTOR (FACULTY, ROWAN UNIVERSITY)
- Total calculated
- $104,890
- From this org
- $0
- From related orgs
- $75,860
- Other
- $29,030
- Hours/week
- 1 + 35 related
-
REGINALD J MIDDLETON
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
DAVE BURGIN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
MICHAEL CONNALLON
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
ANGELA BROWN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
GEORGE AWAD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ALYSSA BOLLENDORF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ANTHONY CALABRESE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
APRIL CARTY-SIPP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
STEPHEN H CLARK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
TONY GALVIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JACK HAFNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MICHAEL HARRINGTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CIELO M HERNANDEZ
DIRECTOR THRU MAR 2023
- Total calculated
- $0
- Hours/week
- 1
-
BRIGHID BURGIN HOEMPLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ROBERT W HOEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
SCOTT KINTZING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
STANLEY LABRUNA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ERICA ORTIZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ALYCE PARKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
SALVATORE PATTI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
GINA PUSLOSKI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
HARRY I SCHEYER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DR STEPHANIE SCHLITT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
PAULINE SCHNEIDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ERIC STEIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DAVID J STROUT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DOROTHY STUBBLEBINE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JAMES TARANGELO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JACK TARDITI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
PAUL TULLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
STACEY VAIL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JESSE SHAFER
EXECUTIVE DIRECTOR
- Total calculated
- $310,663
- From this org
- $0
- From related orgs
- $296,663
- Other
- $14,000
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $281,864 related
- Bonus
- $0 + $10,000 related
- Other
- $0 + $4,799 related
- Deferred
- $0 + $14,000 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $310,663 related
-
RONALD J TALLARIDA
FORMER EXECUTIVE DIRECTOR
- Total calculated
- $312,100
- From this org
- $0
- From related orgs
- $298,100
- Other
- $14,000
- Hours/week
- 0 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $267,196 related
- Bonus
- $0 + $15,000 related
- Other
- $0 + $15,904 related
- Deferred
- $0 + $14,000 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $312,100 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
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 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 3
- THE ORGANIZATION'S EXECUTIVE DIRECTOR, JESSE R. SHAFER, WAS COMPENSATED BY A RELATED ORGANIZATION, ROWAN UNIVERSITY. HIS COMPENSATION WAS DETERMINED THROUGH ROWAN UNIVERSITY'S SALARY REVIEW PROCESS, WHICH INCLUDES A REVIEW BY THE UNIVERSITY'S CHIEF HUMAN RESOURCE OFFICER, CHIEF FINANCIAL OFFICER, AND THE PRESIDENT OF ROWAN UNIVERSITY. THESE REVIEWS INCLUDED THE USE OF COMPARABILITY DATA FOR BOTH INTERNAL AND EXTERNAL COMPENSATION EQUITY.
- PART I, LINE 4B
- ALI HOUSHMAND, A DIRECTOR OF THE ORGANIZATION AND THE PRESIDENT OF ROWAN UNIVERSITY, PARTICIPATES IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN WITH THE UNIVERSITY, A RELATED ORGANIZATION. THE UNIVERSITY CONTRIBUTED $74,000 TO THE PLAN ON HIS BEHALF IN CALENDAR YEAR 2022. HE ALSO RECEIVED DISTRIBUTION FROM THE 457(F) PLAN IN AMOUNT OF $214,342 IN CALENDAR YEAR 2022. THE AMOUNT IS REPORTABLE AS TAXABLE COMPENSATION IN PART II, COLUMN B (III).
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
-
$14,195,549
TO SUPPORT ROWAN UNIVERSITY
-
TO SUPPORT STUDENT GOVERNMENT ACTIVITIES
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.
-
HIGHER EDUCATION · NJ
-
SOUTH JERSEY TECHNOLOGY PARK AT ROWAN UNIVERSITY INC
501(C)(3) · RESEARCH AND INNOVATION · NJ
Directly controlled by ROWAN UNIVERSITY
-
501(C)(3) · HIGHER EDUCATION AFFILIATE NETWORK · DE
Directly controlled by ROWAN UNIVERSITY
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.
-
ROWAN INNOVATION VENTURE FUND LLC
PROVIDE EARLY-STAGE FUNDING TO ENTREPRENEURS · NJ · income $0 · assets $5,330,472
Directly controlled by ROWAN UNIVERSITY FOUNDATION
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401369349309590
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