Stockton University Foundation
- Assets
- $54.9m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Galloway, NJ
- Founding
- 04/1972
- Data as of
- 06/2022
- EIN
- 22-1957406
Organization Overview
Stockton University Foundation is located in Galloway, NJ. The organization was established in 1972. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stockton University Foundation 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, Stockton University Foundation generated $5.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $3.0m during the year ending 06/2022. While expenses have increased by 6.6% 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.
Since 2016, Stockton University Foundation has awarded 12 individual grants totaling $2,847,543. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LEADERSHIP, OVERSIGHT AND TO BE REPONSIBLE FOR RAISING, STEWARDING, AND DISTRIBUTING FUNDS IN SUPPORT OF STOCKTON UNIVERSITY AND ITS STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STOCKTON UNIVERSITY'S SCHOLARSHIP PROGRAM PROVIDES AWARDS TO UNDERGRADUATE AND GRADUATE STUDENTS PRIMARILY ON A COMPETITIVE BASIS (SOME AWARDS ARE RESTRICTED TO NEEDS-BASED CRITERIA). 707 STUDENTS RECEIVED SCHOLARSHIP AWARDS IN FY22. THESE AWARDS ARE MADE FROM THE FOUNDATION'S PERMANENTLY RESTRICTED ENDOWMENT FUNDS AS WELL AS THROUGH CURRENT-USE GIFTS AND THROUGH THE FOUNDATION'S GENERAL SCHOLARSHIP FUNDS.
OTHER DIRECT SUPPORT AND FACULTY SUPPORT.
DONOR RESTRICTED FUNDS, BOTH ENDOWED AND CURRENT-USE, PROVIDE PHILANTHROPIC SUPPORT FOR A NUMBER OF UNIVERSITY INITIATIVES INCLUDING, UNDERGRADUATE RESEARCH, VISITING LECTURERS/SCHOLARS, PROGRAMMING IN THE VARIOUS ACADEMIC CENTERS, FACULTY SCHOLARLY ACTIVITY, AND OTHER SPECIAL PROGRAMMING THAT ADVANCES THE ACADEMIC MISSION OF THE UNIVERSITY.
DONOR RESTRICTED FUNDS, BOTH ENDOWED AND CURRENT-USE, PROVIDE SUPPORT FOR VARIOUS FACILITY RENOVATION, CONSTRUCTION, AND/OR OPERATION. FACILITIES AND OPERATIONS CURRENTLY SUPPORTED INCLUDE, THE SARA AND SAM SCHOFFER HOLOCAUST RESOURCE CENTER, KRAMER HALL, THE SAM AZEEZ MUSEUM OF WOODBINE HERITAGE, ANNE AZEEZ HALL, STOCKTON UNIVERSITY PERFORMING ARTS CENTER AND THE NOYES ARTS GARAGE STOCKTON UNIVERSITY, NOYES MUSEUM OF ART STOCKTON UNIVERSITY, JOHN F. SCARPA ACADEMIC CENTER AND JOHN F. SCARPA HEALTH SCIENCE CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Harvey Kesselman University President | Trustee | 4 | $0 |
Daniel Nugent Executive Director | OfficerTrustee | 6 | $0 |
Donna M Albano Board Member | Trustee | 2 | $0 |
Michael L Albrecht First Vice Chair | OfficerTrustee | 4 | $0 |
Claire B Kuhar CPA Treasurer | OfficerTrustee | 4 | $0 |
Joseph Fusco ESQ Second Vice Chair | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $544,993 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,614,192 |
| Noncash contributions included in lines 1a–1f | $461,388 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,159,185 |
| Total Program Service Revenue | $0 |
| Investment income | $1,648,659 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $778,962 |
| Net Income from Fundraising Events | -$129,258 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,457,548 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $725,245 |
| Grants and other assistance to domestic individuals. | $1,284,248 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,684 |
| Fees for services: Accounting | $33,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $30,695 |
| Fees for services: Investment Management | $213,028 |
| Fees for services: Other | $49,695 |
| Advertising and promotion | $7,988 |
| Office expenses | $62,568 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $83,264 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $141,345 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,392 |
| All other expenses | $9,576 |
| Total functional expenses | $3,002,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $502,065 |
| Pledges and grants receivable | $5,837,659 |
| Accounts receivable, net | $53,985 |
| 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 | $50,137 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $48,453,597 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $54,897,443 |
| Accounts payable and accrued expenses | $31,872 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $96,667 |
| Total liabilities | $128,539 |
| Net assets without donor restrictions | $3,227,244 |
| Net assets with donor restrictions | $51,541,660 |
| 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 | $54,897,443 |
Grants Awarded
Over the last fiscal year, Stockton University Foundation has awarded $393,513 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
STOCKTON UNIVERSITY PURPOSE: SEE PART IV INFO | $228,463 |
STOCKTON AFFILIATED SERVICES PURPOSE: SAM AZEEZ MUSEUM | $165,050 |