Raritan Valley Community College Dir Of Budget & Finance Office
- Assets
- $101.1m
- Revenue
- $75.9m
- Investments
- $0.0
- Employees
- 1,008
- Location
- Somerville, NJ
- Founding
- 02/1969
- Data as of
- 06/2022
- EIN
- 22-1815636
Organization Overview
Raritan Valley Community College Dir Of Budget & Finance Office is located in Somerville, NJ. The organization was established in 1969. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Raritan Valley Community College Dir Of Budget & Finance Office employed 1,008 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Raritan Valley Community College Dir Of Budget & Finance Office 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 06/2022, Raritan Valley Community College Dir Of Budget & Finance Office generated $75.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $76.5m during the year ending 06/2022. While expenses have increased by 2.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP CRITICAL THINKING, FOSTER INTELLECTUAL CURIOSITY, PROMOTE LEADERSHIP, ENCOURAGE SOCIAL RESPONSIBILITY AND SUPPORT PERSONAL GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY COLLEGE OF APPROXIMATELY 6,688 CREDIT-SEEKING STUDENTS AND NEARLY 2,500 NON-CREDIT STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caren Bateman Chairperson | OfficerTrustee | 2 | $0 |
Robert Wise Chairperson, Thru 12/31/2021 | OfficerTrustee | 2 | $0 |
Roger R Locandro Vice-Chairperson | OfficerTrustee | 2 | $0 |
Tracy Difrancesco Zaikov Vice-Chairperson | OfficerTrustee | 2 | $0 |
Helena Swanicke Treasurer | OfficerTrustee | 2 | $0 |
Juan Torres Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allied Universal Security Security Services | 6/29/22 | $1,029,206 |
Structural Concepts Inc Construction Services | 6/29/22 | $919,159 |
Fastforward Digital Llc Marketing Services | 6/29/22 | $611,200 |
Pinakin It Solutions Llc Information Technology Services | 6/29/22 | $302,631 |
Difrancesco Bateman Pc Legal Services | 6/29/22 | $139,949 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $885,021 |
| Government grants | $45,947,468 |
| All other contributions, gifts, grants, and similar amounts not included above | $978,782 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,811,271 |
| Total Program Service Revenue | $27,952,017 |
| Investment income | $12,814 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $172 |
| Net Rental Income | $42,280 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $75,934,725 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $17,473,701 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,149,475 |
| Compensation of current officers, directors, key employees. | $229,895 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,630,993 |
| Pension plan accruals and contributions | $1,451,451 |
| Other employee benefits | $5,106,897 |
| Payroll taxes | $2,677,565 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,537 |
| Fees for services: Accounting | $67,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,400,821 |
| Advertising and promotion | $502,390 |
| Office expenses | $3,705,390 |
| Information technology | $1,163,946 |
| Royalties | $0 |
| Occupancy | $1,307,481 |
| Travel | $62,046 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $109,385 |
| Interest | $56 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,823,299 |
| Insurance | $402,965 |
| All other expenses | $128,531 |
| Total functional expenses | $76,503,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,341,818 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,783,460 |
| Accounts receivable, net | $2,663,040 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $19,570 |
| Prepaid expenses and deferred charges | $418,918 |
| Net Land, buildings, and equipment | $70,176,083 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,675,810 |
| Total assets | $101,078,699 |
| Accounts payable and accrued expenses | $5,279,008 |
| Grants payable | $0 |
| Deferred revenue | $2,212,528 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,476,027 |
| Total liabilities | $33,967,563 |
| Net assets without donor restrictions | $67,111,136 |
| Net assets with donor restrictions | $0 |
| 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 | $101,078,699 |