Bloomfield Educational Foundation Incorporated
- Assets
- $722.5k
- Revenue
- $137.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomfield, NJ
- Founding
- 12/2001
- Data as of
- 09/2022
- EIN
- 22-3621312
Organization Overview
Bloomfield Educational Foundation Incorporated is located in Bloomfield, NJ. The organization was established in 2001. 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. Bloomfield Educational Foundation Incorporated 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 09/2022, Bloomfield Educational Foundation Incorporated generated $137.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $103.8k during the year ending 09/2022. While expenses have increased by 6.3% 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
PROVIDE SUPPORT FOR BLOOMFIELD, NJ PUBLIC SCHOOLS AND COLLEGE SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO PUBLIC SCHOOLS
COLLEGE SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Dassing Executive Di | Trustee | 20 | $21,600 |
Madeline Wollner Vice-Chairwo | Officer | $0 | |
Terence Mullane Chairman | Officer | $0 | |
Richard Koscielak Treasurer | Officer | $0 | |
Howard Friedman Trustee | Trustee | $0 | |
Paul Giuliano Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $756 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $46,597 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,353 |
| Total Program Service Revenue | $0 |
| Investment income | $23,510 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $54,190 |
| Net Income from Gaming Activities | $12,550 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $137,603 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| Grants and other assistance to domestic individuals. | $39,500 |
| 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 | $21,600 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,036 |
| Fees for services: Other | $425 |
| Advertising and promotion | $4,423 |
| Office expenses | $4,242 |
| Information technology | $0 |
| Royalties | $480 |
| Occupancy | $2,200 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $946 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $916 |
| All other expenses | $0 |
| Total functional expenses | $103,771 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,005 |
| Savings and temporary cash investments | $41,470 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $285 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $669,692 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $722,452 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $29,486 |
| 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 | $29,486 |
| Net assets without donor restrictions | $20,621 |
| Net assets with donor restrictions | $672,345 |
| 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 | $722,452 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Bloomfield Educational Foundation Incorporated has recieved totaling $10,500.
| Awarding Organization | Amount |
|---|---|
Pascal Foundation Inc Easton, MD PURPOSE: SCHOLARSHIP | $10,000 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 03/09/21 | $500 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |
Americans For Ben-Gurion University Inc New York, NY | $873,598,749 | $105,090,161 |
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
Forrestal Agricultural Corporation Princeton, NJ | $368,119,233 | $43,096,782 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
Foundation For Indiana University Of Pennsylvania Indiana, PA | $226,911,998 | $27,994,482 |
Foundation Of The State University Of New York At Binghamton Inc Binghamton, NY | $286,478,699 | $29,318,635 |
New York University School Of Law Foundation New York, NY | $145,376,406 | $16,902,006 |
Ubf Faculty-Student Housing Corp Buffalo, NY | $136,055,512 | $19,963,891 |
Educational And Cultural Trust Fund Of The Electrical Industry Flushing, NY | $84,016,859 | $24,193,596 |
Unidel Foundation Inc Greenville, DE | $452,249,782 | $36,851,681 |