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Nonprofiteer
← THE COLLEGE OF NEW JERSEY FOUNDATION INC

Form 990 for tax year 2022

Filed by THE COLLEGE OF NEW JERSEY FOUNDATION INC.

Totals

Total revenue
$8,134,492
Total expenses
$12,128,100
Contributions and grants received
$8,245,308
Grants paid
$9,948,767
Program service revenue
$0
Investment income
-$110,816
Other revenue
$0
Total assets, end of year
$63,000,599
Total liabilities, end of year
$5,374,947
Net assets or fund balances, end of year
$57,625,652
Program services expenses (Part IX)
$10,644,266
Management and general expenses
$1,483,834
Fundraising expenses
$0
Program service expenses (Part III)
$10,644,266

Program services were 87.8% 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

    $8,245,308

  • 1g · Noncash contributions included above

    $112,250

  • 3 · Investment income

    total $1,239,721 · excluded $1,239,721

  • 7a · Gross sales of assets other than inventory

    securities $20,532,655

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

    securities $21,883,192

  • 7c · Gain or loss

    securities -$1,350,537

  • 7d · Net gain or loss

    total -$1,350,537 · excluded -$1,350,537

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,482,842 · program services $8,482,842

  • 2 · Grants to domestic individuals

    total $1,465,925 · program services $1,465,925

  • 11b · Fees: legal

    total $7,914 · management and general $7,914

  • 11c · Fees: accounting

    total $84,917 · management and general $84,917

  • 11f · Fees: investment management

    total $144,151 · management and general $144,151

  • 11g · Fees: other

    total $406,717 · program services $399,942 · management and general $6,775

  • 13 · Office expenses

    total $26,510 · program services $20,185 · management and general $6,325

  • 17 · Travel

    total $9,777 · program services $1,392 · management and general $8,385

  • 19 · Conferences, conventions and meetings

    total $109,574 · program services $92,692 · management and general $16,882

  • 23 · Insurance

    total $7,187 · management and general $7,187

  • 24a · Other expenses: GIFT ADMINISTRATION FEE

    total $1,189,660 · management and general $1,189,660

  • 24b · Other expenses: ATHLETIC SUPPORT

    total $95,600 · program services $95,600

  • 24c · Other expenses: PRIZES/AWARDS

    total $48,331 · program services $47,820 · management and general $511

  • 24d · Other expenses: COUNTRY CLUB DUES

    total $10,987 · management and general $10,987

  • 24e · All other expenses

    total $38,008 · program services $37,868 · management and general $140

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,956,413 · end of year $722,591

  • 2 · Savings and temporary cash investments

    beginning of year $3,152,662 · end of year $1,955,062

  • 4 · Accounts receivable

    beginning of year $28,555 · end of year $814,255

  • 9 · Prepaid expenses and deferred charges

    beginning of year $431 · end of year $517

  • 11 · Investments: publicly traded securities

    beginning of year $51,423,343 · end of year $55,651,361

  • 12 · Investments: other securities

    beginning of year $3,837,557 · end of year $3,856,813

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,328,714 · end of year $2,590,312

  • 19 · Deferred revenue

    beginning of year $935,488 · end of year $1,181,876

  • 25 · Other liabilities

    beginning of year $1,414,528 · end of year $1,602,759

  • 27 · Net assets without donor restrictions

    beginning of year $8,783,607 · end of year $5,613,505

  • 28 · Net assets with donor restrictions

    beginning of year $46,936,624 · end of year $52,012,147

Mission and programs · 2022

Mission

TO FUND PROGRAMS THAT SUPPORT THE OVERALL MISSION OF THE COLLEGE OF NEW JERSEY.

  • SUPPORT PROGRAM: THE OBJECTIVE OF THIS PROGRAM IS TO OBTAIN PRIVATE FUNDING TO ENHANCE THE EDUCATIONAL GOALS OF THE COLLEGE OF NEW JERSEY THROUGH A NUMBER OF SCHOLARSHIPS AND AWARDS. THESE EXPENSES INCLUDE $8,482,842 OF SUPPORT TO THE COLLEGE OF NEW JERSEY AND $1,465,925 OF SCHOLARSHIPS AND OTHER ASSISTANCE TO STUDENTS.

    Expenses $10,644,266 · Grants $9,948,767

  • THE CHARITABLE GIFT ANNUITY PROGRAM CONSISTS OF ASSETS DONATED BY INDIVIDUALS WHO SIGN AN ANNUITY AGREEMENT WITH THE FOUNDATION. THE FOUNDATION MAKES STIPULATED REGULAR PAYMENTS UNTIL AN AGREED UPON TIME.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JOHN P DONOHUE

    EXECUTIVE DIRECTOR

    Total calculated
    $159,300
    From this org
    $132,386
    From related orgs
    $0
    Other
    $26,914
    Hours/week
    13

    Schedule J breakdown matched by us

    Base
    $132,386
    Bonus
    $0
    Other
    $0
    Deferred
    $10,562
    Nontaxable benefits
    $16,352
    Filer's total
    $159,300

  • LLOYD RICKETTS

    ASSISTANT TREASURER - PART YEAR

    Total calculated
    $0
    Hours/week
    1

  • ELAINE A ROCHA

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CRAIG MORGENSTERN

    TREASURER & FINANCE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • GLOIA E WEISSBART

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • SUSANNE SVIZENY

    BOARD OF TRUSTEES LIAISON

    Total calculated
    $0
    Hours/week
    1

  • IAN RUDERMAN

    ALUMNI ASSOCIATION LIAISON

    Total calculated
    $0
    Hours/week
    1

  • BARBARANNE DIMARCO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR KATHRYN A FOSTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TIMOTHY JACOUTOT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THERESA MARTINAC

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR HERBERT MAYO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL MOVSOVICH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BARBARA MEYERS PELSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANDREW POLANSKY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT ROSS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS M RUGGIA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR S MONET SIFFORD-WILSON

    FACP

    Total calculated
    $0
    Hours/week
    1

  • DR SPIRO SPIREAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LT COLONEL MELVIN F SYKES

    AUDIT CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JAMES THORESEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VALERIE MCDUFFIE - PART YEAR

    INTERIM ASSISTANT TREASURER

    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

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)

SCHEDULE J, SUPPLEMENTAL INFORMATION:
JOHN DONOHUE IS AN EMPLOYEE OF THE COLLEGE OF NEW JERSEY, AN UNRELATED ORGANIZATION. AS THE COLLEGE'S VICE PRESIDENT FOR COLLEGE ADVANCEMENT, JOHN DONOHUE ALSO ACTS IN AN EXECUTIVE DIRECTOR CAPACITY FOR THE COLLEGE OF NEW JERSEY FOUNDATION. AS PER FORM 990, PART V, QUESTION 2 AND PART IX, LINES 5 THROUGH 10, THE FOUNDATION DOES NOT HAVE EMPLOYEES. JOHN DONOHUE ESTIMATES APPROXIMATELY 33% OF HIS TIME IS SPENT WORKING WITH THE FOUNDATION.

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

Provenance

Return type
form_990
Tax year
2022
Filed
12 February 2024
IRS schema version
2022v5.0
Source object
202430449349301968

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