The William Paterson University Of New Jersey Foundation Inc
- Assets
- $42.0m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Wayne, NJ
- Founding
- 04/1993
- Data as of
- 06/2022
- EIN
- 22-3160107
Organization Overview
The William Paterson University Of New Jersey Foundation Inc is located in Wayne, NJ. The organization was established in 1993. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. William Paterson University 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, William Paterson University Of New Jersey Foundation Inc generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $2.5m during the year ending 06/2022. 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
THE MISSION OF THE WILLIAM PATERSON UNIVERSITY OF NEW JERSEY FOUNDATION, INC. IS DEDICATED TO SECURE PHILANTHROPIC FUNDING THROUGH THE IDENTIFICATION AND PURSUIT OF PRIVATE GIFTS, GRANTS AND ENDOWMENTS. THE FOUNDATION WILL BE THE STEWARD OF THESE FUNDS. IN SO DOING, THIS EFFORT WILL HELP POSITION WILLIAM PATERSON UNIVERSITY AS A PREEMINENT PUBLIC INSTITUTION OF HIGHER LEARNING IN NEW JERSEY. SUCCESS IN PART, WILL BE RECOGNIZED AS THE UNIVERSITY'S POSITION AMONG THE ACADEMIC AND BUSINESS COMMUNITY ADVANCES. THE FOUNDATION IS ALSO DEDICATED TO PROVIDE THE HIGHEST LEVEL OF CUSTOMER SERVICE TO OUR DONORS, MEMBERS OF THE UNIVERSITY COMMUNITY AND OTHER CONSTITUENT GROUPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT THE UNIVERSITY'S SCHOLARSHIP PROGRAM. THE FOUNDATION RAISES FUNDS IN ORDER TO PROVIDE FINANCIAL ASSISTANCE TO STUDENTS IN PAYING THEIR TUITION WITH NO REPAYMENT OR WORK OBLIGATION. THESE SCHOLARSHIPS CAN BE AWARDED TO ENROLLED IN-PERSON WILLIAM PATERSON UNIVERSITY STUDENTS WHO DEMONSTRATE ACADEMIC PROFICIENCY, AND/OR FINANCIAL NEED. THE AWARDING OF SCHOLARSHIPS POSITIVELY IMPACTS STUDENTS, PROVIDING CRITICAL FINANCIAL ASSISTANCE AND ENCOURAGEMENT NEEDED TO CONTINUE THEIR EDUCATION.
PROVIDE SUPPORT TO THE UNIVERSITY'S ACADEMIC AND ATHLETIC PROGRAMS AS WELL AS RAISE FUNDS FOR FACILITY ENHANCEMENT (CAPITAL CAMPAIGNS). THE UNIVERSITY OFFERS A WIDE RANGE OF INNOVATIVE ACADEMIC PROGRAMS INCLUDING SEVERAL THAT PROVIDE DONORS WITH AN OUTSTANDING OPPORTUNITY TO MAKE A SPECIAL IMPACT THROUGH THEIR SUPPORT. EXAMPLES OF THESE PROGRAMS ARE AS FOLLOWS: PROGRAM FUNDING PROVIDED BY THE HENRY & MARILYN TAUB FOUNDATION, RUSS BERRIE INSTITUTE FOR PROFESSIONAL SALES, DOROTHY HENNINGS WRITING CENTER, THE CENTER FOR CHINESE ART, COTSAKOS COLLEGE OF BUSINESS COIN PROJECT, ADVANCE MUSIC STUDIES AND PERFORMANCE (MUSIC AFTER SCHOOL PROGRAM), LIVING JAZZ ARCHIVES, HELLER INSTITUTE OF TEACHING & LEARNING, BECTON DICKINSON SYMPOSIUM AND HIGH SCHOOL PROGRAMS, PESCE MENTORING INSTITUTE, ALONG WITH OTHER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Van Duyne III Chair | OfficerTrustee | 0.5 | $0 |
Lauren Locker Vice Chair | OfficerTrustee | 0.5 | $0 |
Allen Magrini Vice Chair, Thru 12/2021 | OfficerTrustee | 0.5 | $0 |
Linda Niro Treasurer | OfficerTrustee | 0.5 | $0 |
Russell Hawkins Secretary | OfficerTrustee | 0.5 | $0 |
Jean Aires Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $188,745 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,083,208 |
| Noncash contributions included in lines 1a–1f | $188,058 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,271,953 |
| Total Program Service Revenue | $0 |
| Investment income | $800,239 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,751,984 |
| Net Income from Fundraising Events | -$17,368 |
| Net Income from Gaming Activities | $2,889 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,809,697 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $992,392 |
| Grants and other assistance to domestic individuals. | $1,146,219 |
| 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 | $0 |
| Fees for services: Accounting | $15,680 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $155,155 |
| Fees for services: Other | $10,446 |
| Advertising and promotion | $0 |
| Office expenses | $15,205 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $65 |
| 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 | $3,385 |
| All other expenses | $0 |
| Total functional expenses | $2,480,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,004 |
| Savings and temporary cash investments | $9,775,019 |
| Pledges and grants receivable | $2,017,801 |
| 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 | $3,638 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $30,234,732 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,245 |
| Total assets | $42,041,439 |
| Accounts payable and accrued expenses | $65,443 |
| Grants payable | $742,414 |
| Deferred revenue | $2,837 |
| 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 | $211,763 |
| Total liabilities | $1,022,457 |
| Net assets without donor restrictions | $5,847,858 |
| Net assets with donor restrictions | $35,171,124 |
| 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 | $42,041,439 |
Grants Awarded
Over the last fiscal year, The William Paterson University Of New Jersey Foundation Inc has awarded $2,215,158 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WILLIAM PATERSON UNIVERSITY OF NEW JERSEY PURPOSE: PROVIDE RESOURCES TO THE UNIVERSITY FOR EDUCATIONAL PURPOSES | $1,392,483 |
WILLIAM PATERSON UNIVERSITY ALUMNI ASSOCIATION PURPOSE: PROVIDE SUPPORT TO WILLIAM PATERSON ALUMNI ASSOCIATION | $6,233 |
WILLIAM PATERSON UNIVERSITY OF NEW JERSEY PURPOSE: SCHORLARSHIPS | $816,442 |