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Nonprofiteer
← PRINCETON AREA COMMUNITY FOUNDATION INC

Form 990 for tax year 2024

Filed by PRINCETON AREA COMMUNITY FOUNDATION INC.

Totals

Total revenue
$20,887,454
Total expenses
$36,801,508
Contributions and grants received
$15,711,370
Grants paid
$32,416,747
Program service revenue
$0
Investment income
$4,721,312
Other revenue
$454,772
Total assets, end of year
$279,610,078
Total liabilities, end of year
$92,606,388
Net assets or fund balances, end of year
$187,003,690
Program services expenses (Part IX)
$34,414,912
Management and general expenses
$1,155,884
Fundraising expenses
$1,230,712
Program service expenses (Part III)
$34,414,912

Program services were 93.5% 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.

  • 1f · All other contributions, gifts and grants

    $15,711,370

  • 1g · Noncash contributions included above

    $3,607,145

  • 3 · Investment income

    total $1,810,684 · unrelated business $0 · excluded $1,810,684

  • 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 $36,189,325

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

    securities $33,278,697

  • 7c · Gain or loss

    securities $2,910,628

  • 7d · Net gain or loss

    total $2,910,628 · excluded $2,910,628

  • 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 $454,772 · related or exempt $454,772

  • 11e · Other revenue, total

    $454,772

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $32,416,747 · program services $32,416,747

  • 2 · Grants to domestic individuals

    total $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 $594,276 · program services $118,622 · management and general $357,032 · fundraising $118,622

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,751,577 · program services $962,352 · management and general $188,644 · fundraising $600,581

  • 8 · Pension plan contributions

    total $112,052 · program services $60,741 · management and general $13,508 · fundraising $37,803

  • 9 · Other employee benefits

    total $179,223 · program services $94,052 · management and general $26,706 · fundraising $58,465

  • 10 · Payroll taxes

    total $161,724 · program services $75,785 · management and general $35,930 · fundraising $50,009

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $27,275 · management and general $27,275

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $9,685 · management and general $9,685

  • 11g · Fees: other

    total $512,888 · program services $225,267 · management and general $287,621

  • 12 · Advertising and promotion

    total $213,562 · program services $86,005 · fundraising $127,557

  • 13 · Office expenses

    total $115,254 · program services $42,687 · management and general $51,256 · fundraising $21,311

  • 14 · Information technology

    total $170,173 · program services $79,744 · management and general $37,807 · fundraising $52,622

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $441,986 · program services $205,816 · management and general $100,355 · fundraising $135,815

  • 17 · Travel

    total $7,759 · program services $5,532 · management and general $931 · fundraising $1,296

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $17,695 · program services $8,932 · management and general $3,664 · fundraising $5,099

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $69,632 · program services $32,630 · management and general $15,470 · fundraising $21,532

  • 23 · Insurance

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,388 · end of year $18,310

  • 2 · Savings and temporary cash investments

    beginning of year $23,504,547 · end of year $26,805,667

  • 3 · Pledges and grants receivable

    beginning of year $11,752,887 · end of year $8,574,420

  • 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 $126,567 · end of year $96,760

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

    $525,748

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

    $188,202

  • 10c · Land, buildings and equipment, net

    beginning of year $386,619 · end of year $337,546

  • 11 · Investments: publicly traded securities

    beginning of year $44,078,139 · end of year $25,703,426

  • 12 · Investments: other securities

    beginning of year $188,525,766 · end of year $214,422,185

  • 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 $3,848,381 · end of year $3,651,764

  • 17 · Accounts payable and accrued expenses

    beginning of year $145,036 · end of year $130,401

  • 18 · Grants payable

    beginning of year $2,315,105 · end of year $9,012,090

  • 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 $78,006,728 · end of year $80,169,272

  • 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 $3,479,184 · end of year $3,294,625

  • 27 · Net assets without donor restrictions

    beginning of year $176,214,077 · end of year $178,062,101

  • 28 · Net assets with donor restrictions

    beginning of year $12,081,164 · end of year $8,941,589

Mission and programs · 2024

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 GRANT PROGRAMS (INCLUDING GREATER MERCER GRANTS AND THE FUND FOR WOMEN & GIRLS) AND GRANTMAKING FROM DONOR-ADVISED, DESIGNATED, NONPROFIT, AND FIELD-OF-INTEREST FUNDS. THE COMMUNITY FOUNDATION'S STRATEGIC GRANTMAKING PROGRAM, ALL KIDS THRIVE, WAS DESIGNED TO ADDRESS HIGH RATES OF CHRONIC ABSENTEEISM IN LOCAL PUBLIC SCHOOLS. IN 2023, THE FIRST PHASE OF THE PROGRAM CONCLUDED. WE EVALUATED THE PROGRAM, CELEBRATED ITS SUCCESSES, AND TOOK STEPS TO BEGIN DESIGNING THE NEXT PHASE OF THE PROGRAM TO HELP CONTINUE TO MEET THE NEEDS OF LOW-INCOME STUDENTS AND THEIR FAMILIES. COMMUNITY IMPACT GRANTS SUPPORT NONPROFITS WORKING TO IMPROVE THE QUALITY OF LIFE FOR CHILDREN, FAMILIES AND COMMUNITIES, INCLUDING NONPROFITS FOCUSING ON FOOD INSECURITY, MENTAL HEALTH, ECONOMIC DEVELOPMENT AND ARTS EDUCATION. WE ALSO SUPPORT GIVING CIRCLES AND FIELD OF INTEREST FUNDS TO ENGAGE WOMEN AND MILLENNIALS IN PHILANTHROPY. THE COMMUNITY FOUNDATION ALSO MAKES GRANTS FROM DONOR-ADVISED, DESIGNATED, NONPROFIT AND FIELD OF INTEREST FUNDS. ITS PRIMARY FOCUS IS CENTRAL NEW JERSEY, BUT GRANTS FROM DONOR-ADVISED FUNDS ARE MADE REGIONALLY AND NATIONALLY AS WELL. COMPETITIVE GRANTS ADDRESS THE NEEDS OF LOW-INCOME PEOPLE IN GREATER MERCER COUNTY, PROVIDE OPERATING SUPPORT FOR NONPROFITS WORKING WITH LOW-INCOME PEOPLE, AND PROVIDE SUPPORT FOR WORK TO BUILD THE SOCIAL CAPITAL OF THE REGION. IN 2015 THE BOARD DEFINED SOCIAL CAPITAL AS BUILDING COMMUNITIES. THE COMMUNITY FOUNDATION'S GRANTMAKING TOUCHES MANY PROGRAMMATIC AREAS INCLUDING EDUCATION, BASIC SERVICES, HEALTH, ARTS & CULTURE, HOUSING, THE ENVIRONMENT, HISTORIC PRESERVATION, AND ANIMAL WELFARE. PROMOTING PHILANTHROPY AND PROVIDING EDUCATION: THE COMMUNITY FOUNDATION ACTIVELY ENGAGES ITS DONORS, GRANTEES, AND THE PROFESSIONAL ADVISORS IN THE REGION TO ENCOURAGE CHARITABLE GIVING BROADLY, AND TO BUILD OVER TIME A COMMUNITY-WIDE COMMITMENT TO PHILANTHROPY. IT SPONSORS SEMINARS AND WORKSHOPS ON TOPICS SUCH AS ENDOWMENT-BUILDING, GOOD GOVERNANCE, GRANT-SEEKING BEST PRACTICES, RISK MANAGEMENT, AND PLANNED GIVING. THE COMMUNITY FOUNDATION POSITIONS ITSELF AS A RESOURCE TO THE REGION AND REGULARLY RESPONDS TO REQUESTS FOR INFORMATION AND GUIDANCE. THE COMMUNITY FOUNDATION PARTNERS WITH OTHER ORGANIZATIONS SUCH AS THE COUNCIL OF NJ GRANTMAKERS, THE GIFT PLANNING COUNCIL OF NEW JERSEY, NJ CENTER FOR NONPROFITS, AND THE SUPPORT CENTER PARTNERSHIP IN PHILANTHROPY TO EXPAND ITS EDUCATIONAL OFFERINGS. OUTSIDE NON-PROFIT GROUPS CONDUCT RELATED WORKSHOPS ON ITS PREMISES. STAFF ARE AVAILABLE TO CONSULT WITH DONORS, NONPROFITS, PROFESSIONAL ADVISORS, AND COMMUNITY LEADERS ON ISSUES RELATED TO GIFTS, GRANTS, PARTNERSHIPS AND COLLABORATIONS, AND EFFECTIVE PHILANTHROPY AND NONPROFIT MANAGEMENT. IT SHARES ITS EXPERTISE WIDELY AS IT WORKS TO MEET ITS MISSION TO "PROMOTE PHILANTHROPY TO ADVANCE THE WELL-BEING OF OUR COMMUNITIES FOREVER." THE COMMUNITY FOUNDATION INCLUDES MANY SCHOLARSHIP FUNDS. IT GRANTS SCHOLARSHIPS AND AWARDS THROUGH COMPETITIVE PROCESSES TO SUPPORT COLLEGE STUDY AND TO HONOR ACHIEVEMENT IN THE ARTS, MUSIC, AND COMMUNITY SERVICE. THE COMMUNITY FOUNDATION'S LIABILITIES TO ASSETS RATIO INCREASES AS THE COMMUNITY FOUNDATION'S PORTFOLIO OF NON-PROFIT FUNDS INCREASE. AS PART OF ITS MISSION, THE COMMUNITY FOUNDATION ASSISTS LOCAL NON-PROFIT ORGANIZATIONS INVEST THEIR MONEY. THIS RELATIONSHIP WITH LOCAL NON-PROFIT FUNDHOLDERS IS IMPORTANT TO OUR MISSION AND SHOWS AS A LIABILITY ON OUR FINANCIAL STATEMENTS.

    Expenses $34,414,912 · Grants $32,416,751 · Revenue $454,772

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

Listed in Part VII

  • Laura J Longman

    COO/CFO (interim CEO)

    Total calculated
    $332,188
    From this org
    $298,381
    From related orgs
    $0
    Other
    $33,807
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,644
    Bonus
    $95,737
    Other
    $0
    Deferred
    $16,589
    Nontaxable benefits
    $17,218
    Filer's total
    $332,188

  • Marcia W Shackelford

    CHIEF PHILANTHROPY OFFICER

    Total calculated
    $248,862
    From this org
    $206,725
    From related orgs
    $0
    Other
    $42,137
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,613
    Bonus
    $24,112
    Other
    $0
    Deferred
    $15,289
    Nontaxable benefits
    $26,848
    Filer's total
    $248,862

  • Nelida Valentin

    VICE PRESIDENT, GRANTS & PRGM

    Total calculated
    $229,026
    From this org
    $201,098
    From related orgs
    $0
    Other
    $27,928
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,794
    Bonus
    $27,304
    Other
    $0
    Deferred
    $13,843
    Nontaxable benefits
    $14,085
    Filer's total
    $229,026

  • Lynne Toye

    EXEC DIR OF NEW JERSEY ARTS

    Total calculated
    $215,353
    From this org
    $185,695
    From related orgs
    $0
    Other
    $29,658
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,695
    Bonus
    $0
    Other
    $0
    Deferred
    $14,800
    Nontaxable benefits
    $14,858
    Filer's total
    $215,353

  • Michael R Nuno

    SENIOR DIR OF PHILANTHROPY

    Total calculated
    $185,442
    From this org
    $162,333
    From related orgs
    $0
    Other
    $23,109
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,150
    Bonus
    $3,183
    Other
    $0
    Deferred
    $12,731
    Nontaxable benefits
    $10,378
    Filer's total
    $185,442

  • Michelle M Sahn

    DIRECTOR OF COMMUNICATIONS

    Total calculated
    $161,852
    From this org
    $140,865
    From related orgs
    $0
    Other
    $20,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,509
    Bonus
    $9,356
    Other
    $0
    Deferred
    $10,712
    Nontaxable benefits
    $10,275
    Filer's total
    $161,852

  • Jeffrey Vega

    President/CEO (Dec'd 1/28/24)

    Total calculated
    $89,704
    From this org
    $87,973
    From related orgs
    $0
    Other
    $1,731
    Hours/week
    40

  • Sonia Delgado Mga

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Loverpreet Buttar

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Scot D Pannerpackercpaabv Cff

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Marygrace Billek Mssw

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nicole Bronzan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ka'Neda N Bullock CFP MBA Aif

    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

  • 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

  • Victoria Rivera-Cruz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John P Thurber

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Ullmann

    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, 2024. 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
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202543149349303939

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

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