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← RARITAN VALLEY COMMUNITY COLLEGE DIR OF BUDGET & FINANCE OFFICE

Form 990 for tax year 2023

Filed by RARITAN VALLEY COMMUNITY COLLEGE DIR OF BUDGET & FINANCE OFFICE.

Totals

Total revenue
$81,995,945
Total expenses
$78,818,464
Contributions and grants received
$46,512,171
Grants paid
$13,207,046
Program service revenue
$34,760,797
Investment income
$527,885
Other revenue
$195,092
Total assets, end of year
$112,602,068
Total liabilities, end of year
$31,660,998
Net assets or fund balances, end of year
$80,941,070
Program services expenses (Part IX)
$64,888,957
Management and general expenses
$13,929,507
Fundraising expenses
$0
Program service expenses (Part III)
$64,888,957

Program services were 82.3% 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)

    $46,512,171

  • 2a · Program service revenue: Tuition and Fees

    total $33,361,338 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Auxiliary Services

    total $1,399,459 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $527,885 · unrelated business $0 · excluded $527,885

  • 11a · Other revenue: Other Operating Revenues

    total $195,092 · related or exempt $195,092 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $195,092

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $13,207,046 · program services $13,207,046

  • 5 · Compensation of officers, directors and key employees

    total $997,898 · program services $19,958 · management and general $977,940 · fundraising $0

  • 7 · Other salaries and wages

    total $34,345,553 · program services $27,476,442 · management and general $6,869,111 · fundraising $0

  • 8 · Pension plan contributions

    total $1,783,736 · program services $1,426,989 · management and general $356,747 · fundraising $0

  • 9 · Other employee benefits

    total $6,851,242 · program services $5,480,994 · management and general $1,370,248 · fundraising $0

  • 10 · Payroll taxes

    total $2,574,542 · program services $2,059,634 · management and general $514,908 · fundraising $0

  • 11b · Fees: legal

    total $166,610 · program services $0 · management and general $166,610 · fundraising $0

  • 11c · Fees: accounting

    total $67,000 · program services $0 · management and general $67,000 · fundraising $0

  • 11g · Fees: other

    total $2,328,098 · program services $1,862,478 · management and general $465,620 · fundraising $0

  • 12 · Advertising and promotion

    total $489,918 · program services $391,934 · management and general $97,984 · fundraising $0

  • 13 · Office expenses

    total $2,208,954 · program services $1,767,163 · management and general $441,791 · fundraising $0

  • 14 · Information technology

    total $1,891,158 · program services $1,512,926 · management and general $378,232 · fundraising $0

  • 15 · Royalties

    total $2,128,073 · program services $1,702,458 · management and general $425,615 · fundraising $0

  • 17 · Travel

    total $132,255 · program services $105,804 · management and general $26,451 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $304,044 · program services $243,235 · management and general $60,809 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $5,873,050 · program services $4,698,440 · management and general $1,174,610 · fundraising $0

  • 23 · Insurance

    total $502,044 · program services $401,635 · management and general $100,409 · fundraising $0

  • 24a · Other expenses: Repairs and Maintenance

    total $1,420,742 · program services $1,136,594 · management and general $284,148 · fundraising $0

  • 24b · Other expenses: Food Service

    total $641,094 · program services $512,875 · management and general $128,219 · fundraising $0

  • 24c · Other expenses: Classroom Instructional Supplies

    total $790,131 · program services $790,131 · management and general $0 · fundraising $0

  • 24d · Other expenses: License Acquisition

    total $115,276 · program services $92,221 · management and general $23,055 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,781,268 · end of year $22,862,672

  • 2 · Savings and temporary cash investments

    beginning of year $73,134

  • 3 · Pledges and grants receivable

    beginning of year $13,477,088 · end of year $11,931,305

  • 4 · Accounts receivable

    beginning of year $2,186,152 · end of year $2,670,649

  • 8 · Inventories for sale or use

    beginning of year $13,195 · end of year $15,496

  • 9 · Prepaid expenses and deferred charges

    beginning of year $63,370 · end of year $463,605

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

    $157,728,555

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

    $86,644,022

  • 10c · Land, buildings and equipment, net

    beginning of year $70,358,698 · end of year $71,084,533

  • 15 · Other assets

    beginning of year $5,100,327 · end of year $3,573,808

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,764,720 · end of year $5,974,416

  • 19 · Deferred revenue

    beginning of year $2,407,949 · end of year $2,138,039

  • 25 · Other liabilities

    beginning of year $27,116,974 · end of year $23,548,543

  • 27 · Net assets without donor restrictions

    beginning of year $77,763,589 · end of year $80,941,070

Mission and programs · 2023

Mission

Raritan Valley Community College is an educational community that works to develop critical thinking, foster intellectual curiosity, promote leadership, encourage social responsibility and support personal growth.

  • Community college of approximately 6,857 credit-seeking students and nearly 1,000 non-credit students.

    Expenses $64,888,957 · Grants $13,207,046 · Revenue $33,361,338

As filed on the 2023 return.

Listed in Part VII

  • Zenon Christodoulou

    Chairperson

    Total calculated
    $0
    Hours/week
    2

  • Roger Locandro

    Vice Chairperson

    Total calculated
    $0
    Hours/week
    2

  • Helena Swanicke

    Vice Chairperson

    Total calculated
    $0
    Hours/week
    2

  • Thomas P Borkowski

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Margaret Wolan Sullivan

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Caren Bateman

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jinnee DeMarco

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Michael Goldberg

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Roger Jinks

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Nidhi Makhija

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Howard Opdyke

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Adam Shain

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Juan Torres

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • James Von Schilling

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Nicholas Gallo

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Dr John McGuire

    Emeritus

    Total calculated
    $0
    Hours/week
    2

  • Dr Paul Hirsch

    Emeritus

    Total calculated
    $0
    Hours/week
    2

  • Michael J McDonough PhD

    President

    Total calculated
    $475,440
    From this org
    $381,432
    From related orgs
    $0
    Other
    $94,008
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $293,750
    Bonus
    $15,000
    Other
    $72,682
    Deferred
    $54,000
    Nontaxable benefits
    $40,008
    Filer's total
    $475,440

  • John Trojan

    V.P. Finance and Facilities

    Total calculated
    $270,333
    From this org
    $233,959
    From related orgs
    $0
    Other
    $36,374
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $208,782
    Bonus
    $4,500
    Other
    $20,677
    Deferred
    $35,006
    Nontaxable benefits
    $1,368
    Filer's total
    $270,333

  • Jacki Belin

    V.P. Student Affairs & Outreach

    Total calculated
    $252,944
    From this org
    $209,763
    From related orgs
    $0
    Other
    $43,181
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $196,693
    Bonus
    $4,500
    Other
    $8,570
    Deferred
    $14,000
    Nontaxable benefits
    $29,181
    Filer's total
    $252,944

  • Patrice Marks

    Dean of LFA & BPS, ALO

    Total calculated
    $210,813
    From this org
    $180,555
    From related orgs
    $0
    Other
    $30,258
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $176,392
    Bonus
    $0
    Other
    $4,163
    Deferred
    $14,000
    Nontaxable benefits
    $16,258
    Filer's total
    $210,813

  • Michael Marion

    Executive Dir RVCC Foundation

    Total calculated
    $208,904
    From this org
    $193,722
    From related orgs
    $0
    Other
    $15,182
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $172,678
    Bonus
    $4,500
    Other
    $16,544
    Deferred
    $13,814
    Nontaxable benefits
    $1,368
    Filer's total
    $208,904

  • Brian Thomas

    Professor Ophthalmics

    Total calculated
    $195,131
    From this org
    $171,807
    From related orgs
    $0
    Other
    $23,324
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $50,050
    Bonus
    $0
    Other
    $121,757
    Deferred
    $6,006
    Nontaxable benefits
    $17,318
    Filer's total
    $195,131

  • Cheryl Wallace

    V.P. of HR & Administration

    Total calculated
    $194,846
    From this org
    $181,168
    From related orgs
    $0
    Other
    $13,678
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $164,722
    Bonus
    $4,500
    Other
    $16,446
    Deferred
    $13,178
    Nontaxable benefits
    $500
    Filer's total
    $199,346

  • Karen Bearce PHD

    Provost/V.P Academic Affaris

    Total calculated
    $239,850
    From this org
    $188,869
    From related orgs
    $0
    Other
    $50,981
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $193,325
    Bonus
    $4,500
    Other
    -$8,956
    Deferred
    $14,000
    Nontaxable benefits
    $36,981
    Filer's total
    $239,850

  • Brian O'Rourke

    Executive Dir. Facilities Grounds

    Total calculated
    $189,894
    From this org
    $176,032
    From related orgs
    $0
    Other
    $13,862
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $167,022
    Bonus
    $0
    Other
    $9,011
    Deferred
    $13,361
    Nontaxable benefits
    $500
    Filer's total
    $189,894

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

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 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)

Pt I Line 1a
The president is provided with a housing allowance and a car allowance. A portion of the car allowance is considered taxable income.
Pt I Line 7
The organization paid a discretionary bonus to certain individuals listed on part VII, based on individual performance and within the approved budget of the organization. The bonus amounts were determined and approved by the board of directors and were included in the individuals taxable compensation.

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

No itemized grants to organizations 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
7 May 2025
IRS schema version
2023v6.0
Source object
202511279349302006

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