Kean University Foundation Inc
- Assets
- $95.9m
- Revenue
- $11.1m
- Investments
- $12.7m
- Employees
- 7
- Location
- Union, NJ
- Founding
- 11/1988
- Data as of
- 06/2022
- EIN
- 22-2849480
Organization Overview
Kean University Foundation Inc is located in Union, NJ. The organization was established in 1988. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Kean University Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kean 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 06/2022, Kean University Foundation Inc generated $11.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $5.2m during the year ending 06/2022. While expenses have increased by 1.6% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION RAISES FUNDS TO SUPPORT KEAN UNIVERSITY
Describe the Organization's Program Activity:
SCHOLARSHIPS TO KEAN UNIVERSITY STUDENTS
PROGRAMS AND GRANTS TO KEAN UNIVERSITY
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Fastook Director | OfficerTrustee | 0.25 | $0 |
Maria E Bordas Vice Chair | OfficerTrustee | 0.25 | $0 |
Anthony Giordano III Treasurer | OfficerTrustee | 0.25 | $0 |
Linda Tuma Secretary | OfficerTrustee | 0.25 | $0 |
Kevin Alton Director | Trustee | 0.25 | $0 |
Patricia Dulinski Director | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ccs Fundraising Consulting | 6/29/22 | $397,500 |
Pipitone Group Marketing Agency | 6/29/22 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,986,457 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,986,457 |
| Total Program Service Revenue | $2,755,991 |
| Investment income | $2,108,772 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,219,318 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,069,195 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,355,366 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $586,400 |
| Compensation of current officers, directors, key employees. | $434,874 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $264,334 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,446 |
| Payroll taxes | $65,944 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,029 |
| Fees for services: Accounting | $55,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $270,240 |
| Fees for services: Other | $679,445 |
| Advertising and promotion | $247,799 |
| Office expenses | $19,957 |
| Information technology | $152,356 |
| Royalties | $0 |
| Occupancy | $87,520 |
| Travel | $79,056 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,165 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,672 |
| Insurance | $39,637 |
| All other expenses | $363,753 |
| Total functional expenses | $5,192,029 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,363,931 |
| Pledges and grants receivable | $8,045,510 |
| 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 | $72,461 |
| Net Land, buildings, and equipment | $1,314,685 |
| Investments—publicly traded securities | $70,179,416 |
| Investments—other securities | $12,650,793 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,272,587 |
| Total assets | $95,899,383 |
| Accounts payable and accrued expenses | $312 |
| 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 | $1,244,094 |
| Total liabilities | $1,244,406 |
| Net assets without donor restrictions | $7,508,805 |
| Net assets with donor restrictions | $87,146,172 |
| 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 | $95,899,383 |