Thomas Edison State University Foundation Inc
- Assets
- $12.4m
- Revenue
- $794.4k
- Investments
- $3.2m
- Employees
- 0
- Location
- Trenton, NJ
- Founding
- 10/1978
- Data as of
- 06/2023
- EIN
- 22-2117814
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.
Form
990
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) | Role | Hours | Compensation |
|---|---|---|---|
Merodie Hancock President, Ex-Officio | OfficerTrustee | 2 | $0 |
Nancy K Gloor Board Chairman | OfficerTrustee | 1 | $0 |
Kimberlynn Kleasen Board Vice Chair | OfficerTrustee | 0.5 | $0 |
Eric Robert Lear Treasurer | OfficerTrustee | 0.5 | $0 |
Ahmed A Azmy Director | Trustee | 0.5 | $0 |
Alex J Binder Director | Trustee | 0.5 | $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 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $804,091 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $58,818 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,272 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $16,000 |
| Fees for services: Investment Management | $36,197 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,999 |
| Office expenses | $7,893 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,494 |
| All other expenses | $4,543 |
| Total functional expenses | $957,307 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $194,757 |
| Pledges and grants receivable | $120,021 |
| Accounts receivable, net | $0 |
| 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 | $2,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $12,061,382 |
| Investments—other securities | $3,229,918 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $70,999 |
| Total assets | $12,447,159 |
| Accounts payable and accrued expenses | $77,375 |
| Grants payable | $679,386 |
| 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 | $0 |
| Total liabilities | $756,761 |
| Net assets without donor restrictions | $5,558,079 |
| Net assets with donor restrictions | $6,132,319 |
| 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 | $12,447,159 |
Grants Awarded
Over the last fiscal year, Thomas Edison State University Foundation Inc has awarded $1,286,785 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
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 |