Salem Community College Foundation
- Assets
- $3.3m
- Revenue
- $473.9k
- Investments
- $3.2m
- Employees
- 2
- Location
- Carneys Point, NJ
- Founding
- 01/1975
- Data as of
- 06/2024
- EIN
- 23-7385381
Organization Overview
Salem Community College Foundation is located in Carneys Point, NJ. The organization was established in 1975. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 06/2024, Salem Community College Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem Community College Foundation 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 06/2024, Salem Community College Foundation generated $473.9k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $454.6k during the year ending 06/2024. While expenses have increased by 5.1% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIPS TO STUDENTS OF SALEM COMMUNITY COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS TO STUDENTS OF SALEM COMMUNITY COLLEGE
SCHOLARSHIPS TO STUDENTS OF SALEM COMMUNITY COLLEGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cecilia Smith Executive Di | Trustee | 35 | $60,000 |
Edward T Gheysens Jr CPA Treasurer | Officer | 4 | $22,015 |
Maria Fantini Secretary | Officer | 5 | $5,675 |
Julie Arsenault Board Member | Trustee | $0 | |
Terry Auerbach Bd Member Em | Trustee | $0 | |
Troy Blanchard Board Member | Trustee | $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 | $330,448 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $330,448 |
| Total Program Service Revenue | $0 |
| Investment income | $25,731 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $117,752 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $473,931 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $262,891 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $65,674 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,736 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,819 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,265 |
| Advertising and promotion | $0 |
| Office expenses | $1,023 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75,351 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $554 |
| Insurance | $534 |
| All other expenses | $954 |
| Total functional expenses | $454,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,785 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40 |
| 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 | $11,030 |
| Net Land, buildings, and equipment | $1,432 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,171,802 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,309,089 |
| Accounts payable and accrued expenses | $5,424 |
| 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 | $0 |
| Total liabilities | $5,424 |
| Net assets without donor restrictions | $1,878,038 |
| Net assets with donor restrictions | $1,425,627 |
| 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 | $3,309,089 |