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← STOCKTON UNIVERSITY FOUNDATION

Form 990 for tax year 2023

Filed by STOCKTON UNIVERSITY FOUNDATION.

Totals

Total revenue
$4,818,330
Total expenses
$2,930,547
Contributions and grants received
$3,107,033
Grants paid
$1,826,573
Program service revenue
$0
Investment income
$1,881,659
Other revenue
-$170,362
Total assets, end of year
$67,621,924
Total liabilities, end of year
$110,950
Net assets or fund balances, end of year
$67,510,974
Program services expenses (Part IX)
$2,490,822
Management and general expenses
$410,464
Fundraising expenses
$29,261
Program service expenses (Part III)
$2,490,822

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $592,093

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $2,514,940

  • 1g · Noncash contributions included above

    $1,001

  • 2a · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2b · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2c · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2d · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2e · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,415,456 · related or exempt $0 · unrelated business $0 · excluded $1,415,456

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

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $32,373,032 · other assets $0

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

    securities $31,906,829 · other assets $0

  • 7c · Gain or loss

    securities $466,203 · other assets $0

  • 7d · Net gain or loss

    total $466,203 · related or exempt $0 · unrelated business $0 · excluded $466,203

  • 8a · Fundraising events: gross income

    $139,127

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

    $0

  • 8b · Fundraising events: direct expenses

    $309,489

  • 8c · Net income from fundraising events

    total -$170,362 · unrelated business $0 · excluded -$170,362

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11a · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11b · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11c · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $447,308 · program services $447,308

  • 2 · Grants to domestic individuals

    total $1,379,265 · program services $1,379,265

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $398 · program services $0 · management and general $398 · fundraising $0

  • 11c · Fees: accounting

    total $63,500 · program services $0 · management and general $63,500 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $29,261 · fundraising $29,261

  • 11f · Fees: investment management

    total $222,355 · program services $0 · management and general $222,355 · fundraising $0

  • 11g · Fees: other

    total $90,701 · program services $74,701 · management and general $16,000 · fundraising $0

  • 12 · Advertising and promotion

    total $6,065 · program services $1,400 · management and general $4,665 · fundraising $0

  • 13 · Office expenses

    total $89,435 · program services $82,853 · management and general $6,582 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $128,340 · program services $95,138 · management and general $33,202 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $175,382 · program services $152,815 · management and general $22,567 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $2,737 · program services $0 · management and general $2,737 · fundraising $0

  • 24a · Other expenses: ACADEMIC SUPPORT

    total $179,881 · program services $179,881 · management and general $0 · fundraising $0

  • 24b · Other expenses: BAD DEBT

    total $2,100 · program services $0 · management and general $2,100 · fundraising $0

  • 24c · Other expenses: LICENSES AND FEES

    total $32,731 · program services $16,535 · management and general $16,196 · fundraising $0

  • 24d · Other expenses: SPEAKER FEES

    total $30,670 · program services $30,670 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $50,418 · program services $30,256 · management and general $20,162 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $326,692 · end of year $978,781

  • 3 · Pledges and grants receivable

    beginning of year $7,008,781 · end of year $6,604,625

  • 4 · Accounts receivable

    beginning of year $104,574 · end of year $3,101

  • 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 $42,121 · end of year $71,250

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $53,175,035 · end of year $59,964,167

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $30,101 · end of year $66,086

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 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 $1,636 · end of year $44,864

  • 27 · Net assets without donor restrictions

    beginning of year $3,483,538 · end of year $3,751,630

  • 28 · Net assets with donor restrictions

    beginning of year $57,141,928 · end of year $63,759,344

Mission and programs · 2023

Mission

DESCRIPTION OF ORGANIZATION MISSION: THE FOUNDATION WAS ESTABLISHED IN 1972 BY FRIENDS OF THE UNIVERSITY TO PROVIDE FOR THE PHILANTHROPIC NEEDS OF STOCKTON UNIVERSITY. THE FOUNDATION PROVIDES LEADERSHIP AND OVERSIGHT AND IS RESPONSIBLE FOR RAISING STEWARDING AND DISTRIBUTING FUNDS IN SUPPORT OF STOCKTON UNIVERSITY AND ITS STUDENTS. THE FOUNDATIONS PRIMARY FOCUS IS TO BE A SUBSTANTIAL SOURCE OF FINANCIAL ASSISTANCE FOR A SIGNIFICANT NUMBER OF STUDENTS AND FOR STRENGTHENING THE EDUCATION CAPACITY OF THE UNIVERSITY.

Activities or mission (Part I)

TO PROVIDE LEADERSHIP OVERSIGHT AND TO BE REPONSIBLE FOR RAISING STEWARDING AND DISTRIBUTING FUNDS IN SUPPORT OF STOCKTON UNIVERSITY AND ITS STUDENTS.

  • STOCKTON UNIVERSITYS SCHOLARSHIP PROGRAM PROVIDES AWARDS TO UNDERGRADUATE AND GRADUATE STUDENTS PRIMARILY ON A COMPETITIVE BASIS SOME AWARDS ARE RESTRICTED TO NEEDS-BASED CRITERIA. 811 STUDENTS RECEIVED SCHOLARSHIP AWARDS IN FY24. THESE AWARDS ARE MADE FROM THE FOUNDATIONS PERMANENTLY RESTRICTED ENDOWMENT FUNDS AS WELL AS THROUGH CURRENT-USE GIFTS AND THROUGH THE FOUNDATIONS GENERAL SCHOLARSHIP FUNDS.

    Expenses $1,379,265 · Grants $1,379,265

  • DONOR RESTRICTED FUNDS BOTH ENDOWED AND CURRENT-USE PROVIDE PHILANTHROPIC SUPPORT FOR A NUMBER OF UNIVERSITY INITIATIVES INCLUDING UNDERGRADUATE RESEARCH VISITING LECTURERS SCHOLARS PROGRAMMING IN THE VARIOUS ACADEMIC CENTERS FACULTY SCHOLARLY ACTIVITY AND OTHER SPECIAL PROGRAMMING THAT ADVANCES THE ACADEMIC MISSION OF THE UNIVERSITY.

    Expenses $525,018

  • DONOR RESTRICTED FUNDS BOTH ENDOWED AND CURRENT-USE PROVIDE SUPPORT FOR FACILITY RENOVATION CONSTRUCTION AND OR OPERATION. FACILITIES AND OPERATIONS CURRENTLY SUPPORTED INCLUDE THE SAM AZEEZ MUSEUM OF WOODBINE HERITAGE AND THE NOYES MUSEUM OF ART STOCKTON UNIVERSITY.

    Expenses $447,308 · Grants $447,308

  • OTHER DIRECT SUPPORT AND FACULTY SUPPORT.

    Expenses $139,231

As filed on the 2023 return.

Listed in Part VII

  • DR JOSEPH BERTOLINO

    UNIVERSITY PRESIDENT

    Total calculated
    $223,249
    From this org
    $0
    From related orgs
    $206,596
    Other
    $16,653
    Hours/week
    4 + 31 related

    Schedule J breakdown matched by us

    Base
    $0 + $171,993 related
    Bonus
    $0
    Other
    $0 + $34,603 related
    Deferred
    $0 + $13,846 related
    Nontaxable benefits
    $0 + $2,807 related
    Filer's total
    $0 + $223,249 related

  • DANIEL NUGENT

    EXECUTIVE DIRECTOR

    Total calculated
    $245,249
    From this org
    $0
    From related orgs
    $202,057
    Other
    $43,192
    Hours/week
    6 + 29 related

    Schedule J breakdown matched by us

    Base
    $0 + $201,228 related
    Bonus
    $0
    Other
    $0 + $829 related
    Deferred
    $0 + $16,907 related
    Nontaxable benefits
    $0 + $26,285 related
    Filer's total
    $0 + $245,249 related

  • DR DONNA M ALBANO

    BOARD MEMBER

    Total calculated
    $163,751
    From this org
    $0
    From related orgs
    $134,265
    Other
    $29,486
    Hours/week
    2 + 33 related

    Schedule J breakdown matched by us

    Base
    $0 + $132,379 related
    Bonus
    $0
    Other
    $0 + $1,886 related
    Deferred
    $0 + $11,175 related
    Nontaxable benefits
    $0 + $18,311 related
    Filer's total
    $0 + $163,751 related

  • DR BRIGID CALLAHAN HARRISON

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • MICHAEL L ALBRECHT

    FIRST VICE CHAIR

    Total calculated
    $0
    Hours/week
    4

  • JOSEPH A FUSCO ESQ

    SECOND VICE CHAIR

    Total calculated
    $0
    Hours/week
    4

  • CLAIRE B KUHAR CPA

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • MICHAEL C EPPS ESQ

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • KAREN ALTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • LOUIS T BARBERIO III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • DONNA H BUZBY CPA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • TIMOTHY CAREW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • STEVEN COCCHI

    BOARD MEMBER 06-06-24

    Total calculated
    $0
    Hours/week
    1

  • AQUASIA DAVIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • DAVID A DELIZZA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • SAGE DEL VALLE

    BOARD MEMBER 06-06-24

    Total calculated
    $0
    Hours/week
    1

  • RICHARD S DOVEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • THOMAS L GLENN III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • BARBARA GOMES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • JOHN S GRAY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • L GAYLE GROSS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • LORI S HERNDON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • JOSEPH R JINGOLI JR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • LISA JOHNSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • DR JOHANNA R JOHNSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 26 HAK J KIM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 27 CHARLES W KRAMER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 28 THOMAS KUHAR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 29 RITA MACK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 30 EDWARD H MARSHALL III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 31 KENNETH O'REGGIO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 32 ROXANNE PASSARELLA ESQ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 33 BONNIE D PUTTERMAN ESQ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 34 RICK RICCIARDI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 35 CAMILLE E SAILER ESQ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 36 TRIBHUVAN SINGH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 37 THOMAS J SYKES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 38 MELVYN J TARNOPOL ESQ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 39 PAMELA A THOMAS-FIELDS MAS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 40 CAROLINE TILL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 41 RICHARD H WALKER JR ESQ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 42 DR PETER CAPORILLI

    BOARD MEMBER end 09-13-23

    Total calculated
    $0
    Hours/week
    1

  • 43 DR JUANITA HIGH

    BOARD MEMBER end 01-24-24

    Total calculated
    $0
    Hours/week
    2

  • 44 MICHAEL A HYETT ESQ

    BOARD MEMBER end 10-14-23

    Total calculated
    $0
    Hours/week
    1

  • 45 DR MUKESH ROY

    BOARD MEMBER end 05-27-24

    Total calculated
    $0
    Hours/week
    2

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202511329349301976

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