Form 990 for tax year 2022
Filed by NEW JERSEY CITY UNIVERSITY FOUNDATION INC.
Totals
- Total revenue
- $7,015,080
- Total expenses
- $6,686,253
- Contributions and grants received
- $1,243,165
- Grants paid
- $1,260,031
- Program service revenue
- $5,284,828
- Investment income
- $499,595
- Other revenue
- -$12,508
- Total assets, end of year
- $80,912,504
- Total liabilities, end of year
- $50,105,476
- Net assets or fund balances, end of year
- $30,807,028
- Program services expenses (Part IX)
- $6,441,915
- Management and general expenses
- $236,049
- Fundraising expenses
- $8,289
- Program service expenses (Part III)
- $6,441,915
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.
-
1c · Fundraising events
$74,739
-
1e · Government grants (contributions)
$164,800
-
1f · All other contributions, gifts and grants
$1,003,626
-
2a · Program service revenue: STUDENT HOUSING FACILITIES
total $5,246,439 · related or exempt $5,246,439
-
2b · Program service revenue: ASSESSMENT FEES
total $38,389 · related or exempt $38,389
-
3 · Investment income
total $628,549 · excluded $628,549
-
4 · Income from investment of tax-exempt bond proceeds
total $200,337 · excluded $200,337
-
5 · Royalties
total $455 · excluded $455
-
7a · Gross sales of assets other than inventory
securities $6,600,057
-
7b · Less cost or other basis and sales expenses
securities $6,929,348
-
7c · Gain or loss
securities -$329,291
-
7d · Net gain or loss
total -$329,291 · excluded -$329,291
-
8a · Fundraising events: gross income
$44,786
-
8a · Fundraising events: contributions included on line 1c
$74,739
-
8b · Fundraising events: direct expenses
$58,939
-
8c · Net income from fundraising events
total -$14,153 · excluded -$14,153
-
9a · Gaming: gross income
$2,380
-
9b · Gaming: direct expenses
$1,190
-
9c · Net income from gaming
total $1,190 · excluded $1,190
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,260,031 · program services $1,260,031
-
11b · Fees: legal
total $23,030 · management and general $23,030
-
11c · Fees: accounting
total $66,461 · management and general $66,461
-
11f · Fees: investment management
total $104,761 · management and general $104,761
-
11g · Fees: other
total $187,402 · program services $187,402
-
12 · Advertising and promotion
total $750 · program services $750
-
13 · Office expenses
total $28,759 · program services $12,992 · management and general $8,422 · fundraising $7,345
-
16 · Occupancy
total $2,541,072 · program services $2,541,072
-
17 · Travel
total $13,602 · program services $11,890 · management and general $1,712
-
19 · Conferences, conventions and meetings
total $3,150 · management and general $3,150
-
22 · Depreciation, depletion and amortization
total $1,570,654 · program services $1,569,666 · management and general $988
-
23 · Insurance
total $17,170 · management and general $17,170
-
24a · Other expenses: ALLOCATED PAYROLL
total $558,787 · program services $558,787
-
24b · Other expenses: REPAIRS AND MAINTENANCE
total $267,950 · program services $267,950
-
24c · Other expenses: OFFICIAL RECEPTION
total $14,517 · program services $5,663 · management and general $7,910 · fundraising $944
-
24d · Other expenses: FOOD/MEALS
total $14,003 · program services $13,858 · management and general $145
-
24e · All other expenses
total $14,154 · program services $11,854 · management and general $2,300
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,307,191 · end of year $1,168,741
-
2 · Savings and temporary cash investments
beginning of year $7,852,191 · end of year $8,858,460
-
3 · Pledges and grants receivable
beginning of year $3,401,343 · end of year $2,721,588
-
4 · Accounts receivable
beginning of year $2,853,488 · end of year $3,142,423
-
10a · Land, buildings and equipment: cost or other basis
$54,613,640
-
10b · Land, buildings and equipment: accumulated depreciation
$10,858,564
-
10c · Land, buildings and equipment, net
beginning of year $45,294,464 · end of year $43,755,076
-
11 · Investments: publicly traded securities
beginning of year $19,959,412 · end of year $21,266,216
-
17 · Accounts payable and accrued expenses
beginning of year $7,391,927 · end of year $1,574,692
-
20 · Tax-exempt bond liabilities
beginning of year $47,992,626 · end of year $46,990,497
-
25 · Other liabilities
beginning of year $0 · end of year $1,540,287
-
27 · Net assets without donor restrictions
beginning of year $6,106,786 · end of year $6,952,614
-
28 · Net assets with donor restrictions
beginning of year $23,176,750 · end of year $23,854,414
Mission and programs · 2022
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 634 BEDS AVAILABLE WITH 77% OCCUPANCY FOR FY2023.
Expenses $5,155,450 · Revenue $5,246,439
-
PROVISIONAL ACTIVITIES: THE FOUNDATION SUPPORTED PROVISIONAL ACTIVITIES OF THE UNIVERSITY AND OF SURROUNDING ORGANIZATIONS.
Expenses $720,991 · Grants $694,557 · Revenue $38,389
-
SCHOLARSHIPS: THE FOUNDATION PROVIDED FUNDING TO NEW JERSEY CITY UNIVERSITY FOR STUDENT SCHOLARSHIPS AND OTHER PROGRAMMATIC PURPOSES.
Expenses $565,474 · Grants $565,474
As filed on the 2022 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
-
ANDREA DUCAS
DIRECTOR - SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
STEPHEN HESS
DIRECTOR - TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
ROBERT ANTONICELLO
DIRECTOR THRU SEPT 2022
- Total calculated
- $0
- Hours/week
- 1
-
ASHLEY ATKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
NATALIE BRATHWAITE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
WILL EAVES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ALEX FORRESTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CARLOS LEJNIEKS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
NICOLE LEON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JOSE LOZANO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ELIZABETH MAGENNIS
DIRECTOR THRU SEPT 2022
- Total calculated
- $0
- Hours/week
- 1
-
JEFFREY MARTINEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ALFRED PARINELLO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CHIRAG PATEL
DIRECTOR THRU OCT 2022
- Total calculated
- $0
- Hours/week
- 1
-
DAGMAR ROSA-BJORKESON
DIRECTOR
- 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
-
JODI BAILEY EXECUTIVE
DIRECTOR EFF. MAR 2023
- Total calculated
- $0
- Hours/week
- 2
-
KWI BRENNAN EXECUTIVE
DIRECTOR THRU MAR 2023
- Total calculated
- $101,276
- From this org
- $101,276
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
Schedule J breakdown matched by us
- Base
- $100,681
- Bonus
- $0
- Other
- $595
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $101,276
-
LUKE VISCONTI
IMMEDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
ANDY ACEBO
UNIVERSITY PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
BRIAN KIRKPATRICK CPA
UNIVERSITY VP OF ADMIN & FINANCE
- 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)
- PART VII, LINE 5:
- KWI BRENNAN, FORMER EXECUTIVE DIRECTOR (THRU MARCH 2023), WAS EMPLOYED AND COMPENSATED BY NEW JERSEY CITY UNIVERSITY, AN UNRELATED PARTY. HE DEVOTED 50% OF HIS TIME TO NEW JERSEY CITY UNIVERSITY FOUNDATION AND, IN COMPLIANCE WITH PART VII INSTRUCTIONS OF THE 990, HAS 50% OF HIS COMPENSATION ALLOCATED TO THE FOUNDATION ($101,276).
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
-
$694,557
GRANTS TO SUPPORT THE UNIVERSITY
-
$565,474
TO PROVIDE FUNDS TO THE UNIVERSITY FOR SCHOLARSHIPS AND GRANTS TO STUDENTS
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.
-
RESIDENT FACILITY · NJ · income $5,366,439 · assets $56,064,847
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 $746,776
Directly controlled by BEACON TRUST
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411349349303266
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