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Nonprofiteer
← NEW JERSEY CITY UNIVERSITY FOUNDATION INC

Form 990 for tax year 2023

Filed by NEW JERSEY CITY UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$7,612,390
Total expenses
$6,749,846
Contributions and grants received
$3,065,276
Grants paid
$1,275,674
Program service revenue
$3,509,815
Investment income
$1,037,279
Other revenue
$20
Total assets, end of year
$81,988,169
Total liabilities, end of year
$48,959,013
Net assets or fund balances, end of year
$33,029,156
Program services expenses (Part IX)
$6,502,732
Management and general expenses
$217,325
Fundraising expenses
$29,789
Program service expenses (Part III)
$6,502,732

Program services were 96.3% 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.

  • 1e · Government grants (contributions)

    $2,179,081

  • 1f · All other contributions, gifts and grants

    $886,195

  • 2a · Program service revenue: STUDENT HOUSING FACILITIES

    total $3,432,371 · related or exempt $3,432,371

  • 2b · Program service revenue: AUXILIARY REVENUE

    total $51,329 · related or exempt $51,329

  • 2c · Program service revenue: ASSESSMENT FEES

    total $26,115 · related or exempt $26,115

  • 3 · Investment income

    total $804,346 · excluded $804,346

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

    total $342,658 · excluded $342,658

  • 5 · Royalties

    total $20 · excluded $20

  • 7a · Gross sales of assets other than inventory

    securities $4,405,889

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

    securities $4,515,614

  • 7c · Gain or loss

    securities -$109,725

  • 7d · Net gain or loss

    total -$109,725 · excluded -$109,725

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,275,674 · program services $1,275,674

  • 11b · Fees: legal

    total $17,676 · management and general $17,676

  • 11c · Fees: accounting

    total $38,390 · program services $11,000 · management and general $27,390

  • 11f · Fees: investment management

    total $116,377 · management and general $116,377

  • 11g · Fees: other

    total $189,826 · program services $165,826 · fundraising $24,000

  • 12 · Advertising and promotion

    total $5,650 · management and general $5,650

  • 13 · Office expenses

    total $41,324 · program services $17,630 · management and general $19,085 · fundraising $4,609

  • 16 · Occupancy

    total $2,418,540 · program services $2,418,540

  • 17 · Travel

    total $3,313 · program services $140 · management and general $3,173

  • 22 · Depreciation, depletion and amortization

    total $1,380,038 · program services $1,379,052 · management and general $986

  • 23 · Insurance

    total $20,082 · management and general $20,082

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $809,836 · program services $809,836

  • 24b · Other expenses: ALLOCATED PAYROLL

    total $407,416 · program services $407,416

  • 24c · Other expenses: FOOD/MEALS

    total $11,952 · program services $10,163 · management and general $1,789

  • 24d · Other expenses: OFFICIAL RECEPTION

    total $8,051 · program services $1,754 · management and general $5,117 · fundraising $1,180

  • 24e · All other expenses

    total $5,701 · program services $5,701

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,168,741 · end of year $434,393

  • 2 · Savings and temporary cash investments

    beginning of year $8,858,460 · end of year $8,035,526

  • 3 · Pledges and grants receivable

    beginning of year $2,721,588 · end of year $2,213,038

  • 4 · Accounts receivable

    beginning of year $3,142,423 · end of year $6,678,340

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

    $54,613,640

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

    $12,207,337

  • 10c · Land, buildings and equipment, net

    beginning of year $43,755,076 · end of year $42,406,303

  • 11 · Investments: publicly traded securities

    beginning of year $21,266,216 · end of year $22,220,569

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,574,692 · end of year $1,364,880

  • 20 · Tax-exempt bond liabilities

    beginning of year $46,990,497 · end of year $45,958,367

  • 25 · Other liabilities

    beginning of year $1,540,287 · end of year $1,635,766

  • 27 · Net assets without donor restrictions

    beginning of year $6,952,614 · end of year $8,053,712

  • 28 · Net assets with donor restrictions

    beginning of year $23,854,414 · end of year $24,975,444

Mission and programs · 2023

Mission

THE MISSION OF NEW JERSEY CITY UNIVERSITY FOUNDATION, INC. (THE FOUNDATION) IS TO ENCOURAGE AND SUPPORT THE DEVELOPMENT AND GROWTH OF NEW JERSEY CITY UNIVERSITY (THE "UNIVERSITY") BY MEANS OF DEVELOPMENT AND FUNDRAISING ACTIVITIES.

Activities or mission (Part I)

THE MISSION OF NEW JERSEY CITY UNIVERSITY FOUNDATION, INC. (THE "FOUNDATION") IS TO ENCOURAGE AND SUPPORT THE DEVELOPMENT AND GROWTH OF NEW JERSEY CITY UNIVERSITY (THE "UNIVERSITY") BY MEANS OF DEVELOPMENT AND FUNDRAISING ACTIVITIES.

  • STUDENT HOUSING:IN 2014, THE WEST CAMPUS HOUSING, LLC WAS CREATED AND CONSISTS OF THREE DORMITORY BUILDINGS. THERE ARE 624 BEDS AVAILABLE WITH 54% OCCUPANCY FOR FY2024.

    Expenses $5,145,600 · Revenue $3,432,371

  • SCHOLARSHIPS: THE FOUNDATION PROVIDED FUNDING TO NEW JERSEY CITY UNIVERSITY FOR STUDENT SCHOLARSHIPS AND OTHER PROGRAMMATIC PURPOSES.

    Expenses $891,773 · Grants $891,773

  • PROVISIONAL ACTIVITIES: THE FOUNDATION SUPPORTED PROVISIONAL ACTIVITIES OF THE UNIVERSITY AND OF SURROUNDING ORGANIZATIONS.

    Expenses $465,359 · Grants $383,901 · Revenue $77,444

As filed on the 2023 return.

Listed in Part VII

  • Peter Hernandez

    DIRECTOR - CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Edward O'Connor

    DIRECTOR - VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ashley Atkins

    DIRECTOR - SECRETARY EFF. OCT 2023

    Total calculated
    $0
    Hours/week
    1

  • Andrea Ducas

    DIRECTOR - SECRETARY THRU. SEPT 2023

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Martinez

    DIRECTOR - TREASURER EFF. OCT 2023

    Total calculated
    $0
    Hours/week
    1

  • Stephen Hess

    DIRECTOR - TREASURER THRU. SEPT 2023

    Total calculated
    $0
    Hours/week
    1

  • Natalie Brathwaite

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Will Eaves

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carlos Lejnieks

    DIRECTOR THRU. SEPT 2023

    Total calculated
    $0
    Hours/week
    1

  • Nicole Leon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jose Lozano

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joseph Nyamwange

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alfred Parinello

    DIRECTOR THRU. SEPT 2023

    Total calculated
    $0
    Hours/week
    1

  • Dagmar Rosa-Bjorkeson

    DIRECTOR THRU. DEC 2023

    Total calculated
    $0
    Hours/week
    1

  • Kevin Schmidt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Aisha Thomas-Petit

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Timothy White

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Judith Wodynski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lizette Delgado

    EXECUTIVE DIRECTOR EFF. APR 2024

    Total calculated
    $0
    Hours/week
    2

  • Jodi Bailey

    EXECUTIVE DIRECTOR THRU. APR 2024

    Total calculated
    $61,615
    From this org
    $48,903
    From related orgs
    $0
    Other
    $12,712
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $48,640
    Bonus
    $0
    Other
    $263
    Deferred
    $3,969
    Nontaxable benefits
    $8,743
    Filer's total
    $61,615

  • Luke Visconti

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Andres Acebo

    UNIVERSITY PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Brian Kirkpatrick CPA

    UNIVERSITY VP OF ADMIN & FINANCE

    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

The filer's explanations (Part III)

PART VII, LINE 5:
JODI BAILEY, EXECUTIVE DIRECTOR (THRU APRIL 2024), WAS EMPLOYED AND COMPENSATED BY NEW JERSEY CITY UNIVERSITY, AN UNRELATED PARTY. SHE DEVOTED 25% OF HER TIME TO NEW JERSEY CITY UNIVERSITY FOUNDATION AND, IN COMPLIANCE WITH PART VII INSTRUCTIONS OF THE 990, HAS 25% OF HER COMPENSATION ALLOCATED TO THE FOUNDATION ($61,615).

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

  • NEW JERSEY CITY UNIVERSITY

    $881,773

    TO PROVIDE FUNDS TO THE UNIVERSITY FOR SCHOLARSHIPS AND GRANTS TO STUDENTS

  • NEW JERSEY CITY UNIVERSITY

    $393,901

    GRANTS TO SUPPORT THE 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.

  • WEST CAMPUS HOUSING LLC

    RESIDENT FACILITY · NJ · income $5,801,668 · assets $56,222,726

    Directly controlled by NEW JERSEY CITY UNIVERSITY FOUNDATION INC

  • WCPAC LLC

    OPERATING PERFORMING ARTS CENTER · NJ · income $0 · assets $0

    Directly controlled by NEW JERSEY CITY UNIVERSITY FOUNDATION INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER ANNUITY TRUST

    T · HOLDING COMPANY · NJ · 60% owned · share of assets $787,382

    Directly controlled by BEACON TRUST

Provenance

Return type
form_990
Tax year
2023
Filed
29 April 2025
IRS schema version
2023v6.0
Source object
202541199349301904

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