Ramapo College Foundation
- Assets
- $25.7m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Mahwah, NJ
- Founding
- 12/1971
- Data as of
- 06/2022
- EIN
- 51-0244756
Organization Overview
Ramapo College Foundation is located in Mahwah, NJ. The organization was established in 1971. 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. Ramapo 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 06/2022, Ramapo College Foundation generated $3.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $4.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Ramapo College Foundation has awarded 12 individual grants totaling $26,759,977. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES THE RESOURCES THAT MAKE THE DIFFERENCE IN THE COLLEGE'S QUEST FOR EDUCATIONAL EXCELLENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNRESTRICTED REVENUES ARE RAISED TO FUND A GRANT ALLOCATION PROCESS WHICH ALLOWS FACULTY, STAFF AND STUDENT ORGANIZATIONS TO APPLY FOR SUPPORT THROUGH A COMPETITIVE PROCESS. THESE GRANTS SUPPORT PROFESSIONAL DEVELOPMENT, FUND UNDERGRADUATE RESEARCH, SUPPORT VISITING LECTURERS OR SCHOLARS. THE FOUNDATION ALSO FUNDS FACULTY FELLOWSHIPS FOR THE COLLEGE AS WELL AS SPONSORS SPECIAL PROGRAMS TO ADVANCE THE ACADEMIC MISSION OF THE COLLEGE.
THE FOUNDATION RAISES FUNDS TO SUPPORT THE RENOVATIONS OF COLLEGE BUILDINGS, AS WELL AS VARIOUS ACADEMIC POSITIONS. THIS ENHANCES THE QUALITY OF TEACHING AND LEARNING ON THE CAMPUS AND SUPPORTS OBJECTIVES AS OUTLINED IN THE COLLEGE'S STRATEGIC PLAN.
RAISING FUNDS TO AWARD NEED-BASED, MERIT-BASED OR STUDY-ABROAD SCHOLARSHIPS IS A PRIORITY OF THE FOUNDATION. 550 STUDENT SCHOLARSHIPS WERE AWARDED IN FISCAL YEAR 2022 TOTALING MORE THAN $800,000. ENDOWED SCHOLARSHIP PRINCIPAL INCREASED BY $300,000 OR 1.8% . THE RATE OF RETURN ON ALL ENDOWED INVESTMENTS DECREASED BY -16.6% DUE TO MARKET DECLINES DURING THE YEAR. OVER THE LAST 5 YEARS THERE HAS BEEN AN 20% GROWTH IN THE OVERALL ENDOWMENT VALUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Perry Immediate Past Chair | OfficerTrustee | 1 | $0 |
Roy Putrino Chair | OfficerTrustee | 1 | $0 |
Lisa Ryan Vice Chair | OfficerTrustee | 1 | $0 |
Thomas J Shara Vice Chair | OfficerTrustee | 1 | $0 |
Keith Dawkins Secretary | OfficerTrustee | 1 | $0 |
Eileen Comerford Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $15,180 |
| Fundraising events | $308,405 |
| Related organizations | $0 |
| Government grants | $825,101 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,763,238 |
| Noncash contributions included in lines 1a–1f | $67,173 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,911,924 |
| Total Program Service Revenue | $132,613 |
| Investment income | $718,423 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $22,581 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$84,392 |
| Net Income from Gaming Activities | $8,373 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,709,522 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,721,779 |
| 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 | $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 | $10,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $61,497 |
| Advertising and promotion | $4,749 |
| Office expenses | $128,674 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $32,839 |
| 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 | $15,156 |
| All other expenses | $0 |
| Total functional expenses | $4,044,018 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,735 |
| Savings and temporary cash investments | $1,976,570 |
| Pledges and grants receivable | $1,655,691 |
| Accounts receivable, net | $54,375 |
| 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 | $13,829 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $21,517,421 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $247,500 |
| Total assets | $25,722,121 |
| Accounts payable and accrued expenses | $3,788 |
| Grants payable | $0 |
| Deferred revenue | $21,674 |
| 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 | $415,719 |
| Total liabilities | $441,181 |
| Net assets without donor restrictions | $1,582,734 |
| Net assets with donor restrictions | $23,698,206 |
| 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 | $25,722,121 |
Grants Awarded
Over the last fiscal year, Ramapo College Foundation has awarded $3,721,779 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
RAMAPO COLLEGE OF NEW JERSEY PURPOSE: TO PROVIDE RESOURCES TO RAMAPO COLLEGE FOR EDUCATIONAL PURPOSES | $2,764,230 |
RAMAPO COLLEGE OF NEW JERSEY PURPOSE: TO PROVIDE FUNDS TO RAMAPO COLLEGE FOR SCHOLARSHIPS AND GRANTS TO STUDENTS | $957,549 |