The College Of New Jersey Foundation Inc
- Assets
- $60.4m
- Revenue
- $30.8m
- Investments
- $3.8m
- Employees
- 0
- Location
- Ewing, NJ
- Founding
- 01/1985
- Data as of
- 06/2022
- EIN
- 22-2448189
Organization Overview
The College Of New Jersey Foundation Inc is located in Ewing, NJ. The organization was established in 1985. 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. College Of New Jersey 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 06/2022, College Of New Jersey Foundation Inc generated $30.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.7% each year . All expenses for the organization totaled $9.4m during the year ending 06/2022. While expenses have increased by 8.7% 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 FUND PROGRAMS THAT SUPPORT THE OVERALL MISSION OF THE COLLEGE OF NEW JERSEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT PROGRAM: THE OBJECTIVE OF THIS PROGRAM IS TO OBTAIN PRIVATE FUNDING TO ENHANCE THE EDUCATIONAL GOALS OF THE COLLEGE OF NEW JERSEY THROUGH A NUMBER OF SCHOLARSHIPS AND AWARDS. THESE EXPENSES INCLUDE $6,178,345 OF SUPPORT TO THE COLLEGE OF NEW JERSEY AND $1,444,025 OF SCHOLARSHIPS AND OTHER ASSISTANCE TO STUDENTS.
THE CHARITABLE GIFT ANNUITY PROGRAM CONSISTS OF ASSETS DONATED BY INDIVIDUALS WHO SIGN AN ANNUITY AGREEMENT WITH THE FOUNDATION. THE FOUNDATION MAKES STIPULATED REGULAR PAYMENTS UNTIL AN AGREED UPON TIME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John P Donohue Executive Director | OfficerTrustee | 13 | $123,564 |
Lloyd Ricketts Assistant Treasurer | OfficerTrustee | 1 | $0 |
Elaine A Rocha Chair | OfficerTrustee | 1 | $0 |
Craig Morgenstern Treasurer & Finance Chair | OfficerTrustee | 1 | $0 |
Gloia E Weissbart Vice Chair | OfficerTrustee | 1 | $0 |
Kimberly Brandley - Part Year Past Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,580 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,138,805 |
| Noncash contributions included in lines 1a–1f | $118,414 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,150,385 |
| Total Program Service Revenue | $0 |
| Investment income | $10,238,990 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,384,236 |
| Net Income from Fundraising Events | -$7,981 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,765,630 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,178,345 |
| Grants and other assistance to domestic individuals. | $1,444,025 |
| 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 | $9,068 |
| Fees for services: Accounting | $71,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $71,630 |
| Fees for services: Other | $233,670 |
| Advertising and promotion | $0 |
| Office expenses | $86,625 |
| Information technology | $2,284 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,337 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,471 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $309 |
| All other expenses | $43,627 |
| Total functional expenses | $9,354,520 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,956,413 |
| Savings and temporary cash investments | $3,152,662 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,555 |
| 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 | $431 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $51,423,343 |
| Investments—other securities | $3,837,557 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $60,398,961 |
| Accounts payable and accrued expenses | $2,328,714 |
| Grants payable | $0 |
| Deferred revenue | $935,488 |
| 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 | $1,414,528 |
| Total liabilities | $4,678,730 |
| Net assets without donor restrictions | $8,783,607 |
| Net assets with donor restrictions | $46,936,624 |
| 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 | $60,398,961 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The College Of New Jersey Foundation Inc has recieved totaling $16,500.
| Awarding Organization | Amount |
|---|---|
Davies Family Educational Foundation Onalaska, WI PURPOSE: SCHOLARSHIP FUND | $15,000 |
William C & Mabel D Hunt Dallas, TX PURPOSE: SCHOLARSHIPS | $1,500 |
Endowment Analysis
| Beg. Balance | $48,605,579 |
| Earnings | -$7,499,480 |
| Admin Expense | $67,124 |
| Net Contributions | $4,353,784 |
| Other Expense | $1,322,486 |
| Grants | $885,387 |
| Ending Balance | $43,184,886 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Valley Forge Of The Assemblies Of God Phoenixville, PA | $33,204,385 | $17,692,057 |
Manor College Jenkintown, PA | $17,591,857 | $16,869,766 |
Boricua College New York, NY | $59,386,544 | $9,310,938 |
Purchase College Association Inc Suny College At Purchase Purchase, NY | $7,359,023 | $12,412,930 |
Bard College Berlin A Liberal Arts University Ggmbh Annandaleonhudson, NY | $6,902,665 | $9,754,938 |
Pennsylvania Institue Of Technology Media, PA | $8,362,791 | $13,243,605 |
The College Of New Jersey Foundation Inc Ewing, NJ | $60,398,961 | $30,765,630 |
Fei Tian College Cuddebackville, NY | $23,027,384 | $17,138,947 |
Glasgow Caledonian New York College New York, NY | $1,610,986 | $5,230,742 |
Morrisville College Foundation Inc Morrisville, NY | $23,531,856 | $5,429,338 |
New Jersey City University Foundation Inc Jersey City, NJ | $84,668,089 | $4,332,476 |
Army War College Foundation Incorporated Carlisle, PA | $21,024,371 | $2,863,778 |