Mrcc Foundation Inc

Organization Overview

Mrcc Foundation Inc is located in West Caldwell, NJ. The organization was established in 2016. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Mrcc 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 12/2022, Mrcc Foundation Inc generated $348.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $399.3k during the year ending 12/2022. While expenses have increased by 25.2% per year over the past 5 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE CORPORATION IS FORMED TO (I) ESTABLISH AND ADMINISTER A FUND OF MONIES FROM WHICH TO AWARD SCHOLARSHIPS TO EMPLOYEES INCLUDING THEIR FAMILY MEMBERS AND SERVICE PROVIDERS OF THE MOUNTAIN RIDGE COUNTRY CLUB ON AN OBJECTIVE NEEDS BASIS AS DETERMINED BY THE TRUSTEES, (II) TO RAISE FUNDS AND MAKE CONTRIBUTIONS TO PUBLIC CHARITIES, INCLUDING BUT NOT LIMITED TO, THE NJSGA CADDIE SCHOLARSHIP FOUNDATION WHICH GRANTS SCHOLARSHIPS TO CADDIES, RECEIVE DONATIONS AND GRANTS MONIES FROM WHICH TO FUND THE SCHOLARSHIPS MENTIONED IN (I) AND (II) ABOVE, AND (IV) ANY AND ALL THINGS THAT A NONPROFIT CORPORATION QUALIFIED AS A PUBLIC CHARITY MAY DO.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SCHOLARSHIPS TO EMPLOYEES INCLUDING THEIR FAMILY MEMBERS AND SERVICE PROVIDERS OF MOUNTAIN RIDGE COUNTRY CLUB


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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$348,039
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$348,039
Total Program Service Revenue$0
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $348,039

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