Middlesex College Foundation Inc
- Assets
- $23.9m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Edison, NJ
- Founding
- 08/1966
- Data as of
- 06/2021
- EIN
- 22-6079662
Organization Overview
Middlesex College Foundation Inc is located in Edison, NJ. The organization was established in 1966. According to its NTEE Classification (B43) the organization is classified as: Universities, 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. Middlesex College 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 06/2021, Middlesex College Foundation Inc generated $2.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $1.3m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
HELPING STUDENTS OPEN DOORS TO THEIR FUTURE WITH FINANCIAL AID, SCHOLARSHIPS, AND EDUCATIONAL RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP SUPPORT
PROGRAM SUPPORT
DIRECT AWARDS TO RECIPIENTS
MEETINGS, RECOGNITION, ANNUITY DISTRIBUTIONS
SCHOLARSHIP SUPPORT
PROGRAM SUPPORT
DIRECT AWARDS TO RECIPIENTS
MEETINGS, RECOGNITION, ANNUITY DISTRIBUTIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diane Conboy Chairperson | OfficerTrustee | 1 | $0 |
Barbara Bernard First Vice Chairperson | OfficerTrustee | 1 | $0 |
Deangelina Inman Second Vice Chairperson | OfficerTrustee | 1 | $0 |
James Campbell Treasurer | OfficerTrustee | 1 | $0 |
Joanne Fillweber Secretary | OfficerTrustee | 1 | $0 |
Lisa Kelly Executive Director | Officer | 40 | $0 |
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 | $1,193,100 |
| Noncash contributions included in lines 1a–1f | $38,069 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,193,100 |
| Total Program Service Revenue | $0 |
| Investment income | $422,606 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,195,924 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,811,630 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $367,400 |
| Grants and other assistance to domestic individuals. | $700,449 |
| 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 | $27,164 |
| 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 | $10,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $146,140 |
| Fees for services: Other | $53,178 |
| Advertising and promotion | $0 |
| Office expenses | $6,238 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $38 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,840 |
| Total functional expenses | $1,312,985 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $402,569 |
| Savings and temporary cash investments | $611,752 |
| Pledges and grants receivable | $425,640 |
| Accounts receivable, net | $17,339 |
| 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 | $22,437,638 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,894,938 |
| Accounts payable and accrued expenses | $27,388 |
| Grants payable | $890,223 |
| 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 | $917,611 |
| Net assets without donor restrictions | $3,048,088 |
| Net assets with donor restrictions | $19,929,239 |
| 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 | $23,894,938 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Middlesex College Foundation Inc has recieved totaling $55,850.
| Awarding Organization | Amount |
|---|---|
Princeton Area Community Foundation Inc Lawrenceville, NJ PURPOSE: Holt/Lancefield Scholarships | $21,350 |
Delta Dental Endowment Association Of New Jersey Inc Parsippany, NJ PURPOSE: PROGRAM SUPPORT | $10,000 |
Walter And Louise Sutcliffe 2519020762 Las Vegas, NV PURPOSE: SCHOLARSHIPS | $10,000 |
Ingram-White Castle Foundation Columbus, OH PURPOSE: EDUCATION | $7,500 |
New York Society For The Relief Of Ruptured & Crippled Maintaining New York, NY PURPOSE: GENERAL SUPPORT | $7,000 |
Endowment Analysis
| Beg. Balance | $10,449,635 |
| Earnings | $2,290,757 |
| Net Contributions | $133,393 |
| Other Expense | $437,417 |
| Ending Balance | $12,436,368 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Auxiliary Services State University College At Oswego Inc Oswego, NY | $22,384,872 | $17,397,841 |
New York School Of Interior Design New York, NY | $51,839,026 | $19,439,647 |
Campus Auxiliary Services Inc Geneseo, NY | $17,284,029 | $15,748,461 |
Nysernetorg Inc Syracuse, NY | $20,513,816 | $10,109,446 |
University Auxiliary Services At Albany Inc Albany, NY | $43,160,685 | $14,879,703 |
Suny Cobleskill Auxiliary Services Inc Cobleskill, NY | $8,795,968 | $7,700,761 |
New York College Of Health Professions Syosset, NY | $13,423,184 | $7,322,070 |
Central Yeshiva Tomchei Timimim Lubavitz Of The U S A Brooklyn, NY | $11,238,577 | $6,653,725 |
American Trust 33-11272-66 33-11512-98 Fbo Wilmington, DE | $7,381,611 | $7,490,165 |
Bradford Educational Foundation Bradford, PA | $39,203,686 | $7,196,164 |
Millersville University Foundation Millersville, PA | $54,789,553 | $6,386,048 |
Lock Haven University Foundation Lock Haven, PA | $27,652,723 | $2,532,205 |