Bloomfield College Of Montclair State University Inc is located in Bloomfield, NJ. The organization was established in 1934. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Bloomfield College Of Montclair State University Inc employed 645 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloomfield College Of Montclair State University Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Bloomfield College Of Montclair State University Inc generated $56.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $56.5m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PREPARE STUDENTS FOR ACADEMIC, PERSONAL AND PROFESSIONAL EXCELLENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BLOOMFIELD COLLEGE IS AN INDEPENDENT COLLEGE HISTORICALLY RELATED TO THE PRESBYTERIAN CHURCH (U.S.A.). LOCATED IN THE NEW JERSEY/NEW YORK METROPOLITAN REGION, THE COLLEGE OFFERS ACADEMIC PROGRAMS LEADING TO THE BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES AND MASTERS IN ACCOUNTING, FINE ARTS, AND EDUCATION. THE MISSION OF BLOOMFIELD COLLEGE IS TO PREPARE STUDENTS TO ATTAIN ACADEMIC, PERSONAL AND PROFESSIONAL EXCELLENCE IN A MULTICULTURAL AND GLOBAL SOCIETY. PROGRAMS OF STUDY ARE ROOTED IN THE LIBERAL ARTS, AND ASSIST STUDENTS IN OBTAINING THE SKILLS, KNOWLEDGE, AND VALUES THEY NEED TO BECOME EMPOWERED INDIVIDUALS ENGAGED IN RENEWING THEMSELVES, THEIR RELATIONSHIPS, THEIR WORKPLACES, AND THEIR COMMUNITIES. (CONTINUED ON SCHEDULE O)THE FALL 2022 STUDENT BODY WAS APPROXIMATELY 1,153 (GRADUATE & UNDERGRADUATE) STUDENTS. THE UNDERGRADUATE STUDENT BODY IS 59.2% FEMALE, 48.5% AFRICAN AMERICAN, 31.7% HISPANIC, AND 8.2% WHITE. MANY BLOOMFIELD COLLEGE STUDENTS ARE FIRST GENERATION COLLEGE STUDENTS, OR PROFESSIONALS SEEKING TO KEEP PACE WITH A CHANGING MARKETPLACE. AS OF THE FALL 2022, 400/34.7% STUDENTS RESIDED ON CAMPUS. IN THE FALL OF 2022, BLOOMFIELD COLLEGE ENROLLED 331 NEW FRESHMAN AND TRANSFER STUDENTS. 230 OF THESE NEW STUDENTS WERE FULL-TIME TRADITIONAL UNDERGRADUATE FRESHMEN. 96.2% OF FRESHMAN AND 95.6% OF CONTINUING STUDENTS RECEIVED SOME FORM OF AID. AID IS DISTRIBUTED AS: 79% SCHOLARSHIPS AND GRANTS, 16% STUDENT LOANS, 4% PARENTAL LOANS AND 1% JOBS. A TOTAL OF 377 ENROLLED FRESHMAN WERE JUDGED TO HAVE NEED, AND 358 OF THESE WERE OFFERED AID. BLOOMFIELD COLLEGE OFFERS OVER 60 MAJORS AND AREAS OF CONCENTRATION AS WELL AS OTHER SPECIAL LEARNING OPPORTUNITIES SUCH AS HONORS PROGRAMS AND STUDY ABROAD. IN ADDITION TO THE UNDERGRADUATE CURRICULUM, BLOOMFIELD ALSO OFFERS A CONTINUING EDUCATION PROGRAM WITH OUR OFFICE OF INTERNATIONAL TRAINING AND PROFESSIONAL STUDIES (ITPS). ITPS OFFERS ONLINE CERTIFICATE PROGRAMS FOR THE CAREER-ORIENTED STUDENT. THEY ALSO HAVE CUSTOMIZED CORPORATE COURSES. THE AMERICAN LANGUAGE CENTER HAS YEAR-ROUND ESL CLASSES FOR THOSE LOOKING TO IMPROVE THEIR ENGLISH SKILLS. IN ADDITION, THEY ARE LINKED GLOBALLY WITH MANY SCHOOLS AND UNIVERSITIES FOR TRAINING OF INTERNATIONAL STUDENTS IN ENGLISH, NURSING, EDUCATION, HOSPITALITY, AND OTHER FIELDS OF STUDY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dr Marcheta Evans President | OfficerTrustee | 38 | $551,275 |
Vernon M Endo Chair | OfficerTrustee | 5 | $0 |
Joanne T Marren ESQ Vice-Chair | OfficerTrustee | 5 | $0 |
Dr Maureen C Grant Secretary | OfficerTrustee | 5 | $0 |
Adebola A Taiwo Trustee | Trustee | 5 | $0 |
Alisa C Norris Trustee | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Gourmet Dining Llc Dining Services | 6/29/23 | $1,690,347 |
Abm Industries Cleaning Services | 6/29/23 | $649,201 |
Allied Universal Security Services | 6/29/23 | $536,225 |
Cullen & Dykman Llp Legal Services | 6/29/23 | $521,735 |
Ellucian Company Lp Software Services | 6/29/23 | $341,877 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $16,251,818 |
All other contributions, gifts, grants, and similar amounts not included above | $1,234,052 |
Noncash contributions included in lines 1a–1f | $122,886 |
Total Revenue from Contributions, Gifts, Grants & Similar | $17,485,870 |
Total Program Service Revenue | $37,865,230 |
Investment income | $822,542 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $15,350 |
Net Gain/Loss on Asset Sales | $13,216 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $56,565,962 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $15,228,404 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $2,130,271 |
Compensation of current officers, directors, key employees. | $942,950 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $16,042,072 |
Pension plan accruals and contributions | $1,089,925 |
Other employee benefits | $2,401,801 |
Payroll taxes | $1,380,742 |
Fees for services: Management | $0 |
Fees for services: Legal | $810,461 |
Fees for services: Accounting | $292,642 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $15,477 |
Fees for services: Investment Management | $37,544 |
Fees for services: Other | $3,322,524 |
Advertising and promotion | $13,442 |
Office expenses | $619,430 |
Information technology | $1,324,710 |
Royalties | $0 |
Occupancy | $1,613,845 |
Travel | $383,145 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $585,208 |
Interest | $1,246,406 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,730,801 |
Insurance | $764,642 |
All other expenses | $239,318 |
Total functional expenses | $56,523,991 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,272,788 |
Savings and temporary cash investments | $13,478,578 |
Pledges and grants receivable | $911,063 |
Accounts receivable, net | $172,499 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $491,825 |
Net Land, buildings, and equipment | $59,950,354 |
Investments—publicly traded securities | $16,135,455 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $92,412,562 |
Accounts payable and accrued expenses | $1,539,708 |
Grants payable | $0 |
Deferred revenue | $303,785 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $31,025,456 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $1,187 |
Total liabilities | $32,870,136 |
Net assets without donor restrictions | $44,167,647 |
Net assets with donor restrictions | $15,374,779 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $92,412,562 |