Thomas Edison State University Foundation Inc

Organization Overview

Thomas Edison State University Foundation Inc is located in Trenton, NJ. The organization was established in 1978. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, 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. Thomas Edison State University Foundation 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, Thomas Edison State University Foundation Inc generated $794.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $957.3k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Thomas Edison State University Foundation Inc has awarded 16 individual grants totaling $6,019,278. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE FOUNDATION IS TO INSPIRE DONORS TO INVEST IN THOMAS EDISON STATE UNIVERSITY'S POWER TO TRANSFORM LIVES AND BUILD A MORE COMPETITIVE WORKFORCE BY EMPOWERING ADULTS TO ATTAIN THEIR EDUCATIONAL GOALS.THOMAS EDISON STATE UNIVERSITY FOUNDATION IS A NONPROFIT 501(C)(3) ORGANIZATION. WHILE INDEPENDENT OF THOMAS EDISON STATE UNIVERSITY, THE FOUNDATION OPERATES EXCLUSIVELY FOR THE BENEFIT, SUPPORT AND PROMOTION OF THE UNIVERSITY AND ITS EDUCATIONAL ACTIVITIES AND MAY RECEIVE AND INVEST BEQUESTS, GIFTS OR TRANSFERS OF PROPERTY OR MONEY, AND EXPEND ANY SUCH FUNDS OR PROPERTY FOR THE INSTITUTION'S EDUCATIONAL PURPOSES.THE TWO MAIN EVENTS FOR FY23 WAS THE 29TH ANNUAL GOLF CLASSIC (MAY 2023) TO SUPPORT THE TESU SCHOLARSHIP FUND AND THE 31ST ANNUAL GALA (OCTOBR 2022) TO SUPPORT THE MISSION OF TESUF.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION EXISTS EXCLUSIVELY TO SUPPORT THE PROGRAMS AND ACTIVITIES OF THOMAS EDISON UNIVERSITY IN THE ACHIEVEMENT OF ITS MISSION AS AN INSTITUTE OF HIGHER LEARNING.


THE FOUNDATION EXISTS EXCLUSIVELY TO SUPPORT THE PROGRAMS AND ACTIVITIES OF THOMAS EDISON UNIVERSITY IN THE ACHIEVEMENT OF ITS MISSION AS AN INSTITUTE OF HIGHER LEARNING.


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Board, Officers & Key Employees

Name (title)Compensation
Merodie Hancock
President, Ex-Officio
$0
Nancy K Gloor
Board Chairman
$0
Kimberlynn Kleasen
Board Vice Chair
$0
Eric Robert Lear
Treasurer
$0
Ahmed A Azmy
Director
$0
Alex J Binder
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$73,275
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$677,192
Noncash contributions included in lines 1a–1f $4,825
Total Revenue from Contributions, Gifts, Grants & Similar$750,467
Total Program Service Revenue$0
Investment income $384,414
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$299,931
Net Income from Fundraising Events -$40,540
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $794,410

Grants Awarded

Over the last fiscal year, Thomas Edison State University Foundation Inc has awarded $1,286,785 in support to 4 organizations.

Grant RecipientAmount

THOMAS EDISON STATE UNIVERSITY

PURPOSE: GRANTS TO UNIVERSITY PROGRAMS AS SPECIFIED BY THE REQUIREMENTS OF THE DONORS

$350,126

THOMAS EDISON STATE UNIVERSITY

PURPOSE: SCHOLARSHIPS TO STUDENTS AS DESIGNATED BY THE REQUIREMENTS OF THE DONORS

$365,095

THOMAS EDISON STATE UNIVERSITY

PURPOSE: SCHOLARSHIPS TO STUDENTS AS DESIGNATED BY THE REQUIREMENTS OF THE DONORS

$132,568

THOMAS EDISON STATE UNIVERSITY

PURPOSE: GRANTS TO UNIVERSITY PROGRAMS AS SPECIFIED BY THE REQUIREMENTS OF THE DONORS

$438,996
View Grant Profile

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