Union County College Foundation Inc
- Assets
- $25.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Cranford, NJ
- Founding
- 12/2018
- Data as of
- 06/2023
- EIN
- 22-2218627
Organization Overview
Union County College Foundation Inc is located in Cranford, NJ. The organization was established in 2018. 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. Union County 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 06/2023, Union County College Foundation Inc generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER THE EDUCATIONAL PURPOSES OF UNION COUNTY COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT COLLEGE: SCHOLARSHIPS AND OTHER AWARDS TO UNION COUNTY COLLEGE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maksim Sheyn Chair | OfficerTrustee | 2 | $0 |
Deborah Enix-Ross ESQ Vice Chair | OfficerTrustee | 0.5 | $0 |
Jim Della Sala Treasurer | OfficerTrustee | 1 | $0 |
Dr Margaret M Mcmenamin Secretary | OfficerTrustee | 5 | $0 |
Lawrence D Bashe Immed.past Chair | Trustee | 0.3 | $0 |
Melinda Ayala Voting Ex Officio: Alumni Assoc Rep | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $366,708 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,408,789 |
| Noncash contributions included in lines 1a–1f | $40,330 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,775,497 |
| Total Program Service Revenue | $0 |
| Investment income | $738,637 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$456,103 |
| Net Income from Fundraising Events | -$28,411 |
| Net Income from Gaming Activities | $7,365 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,036,985 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,413,739 |
| 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 | $198,376 |
| Fees for services: Legal | $11,031 |
| Fees for services: Accounting | $18,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $124,641 |
| Fees for services: Other | $167,345 |
| Advertising and promotion | $0 |
| Office expenses | $25,811 |
| Information technology | $16,784 |
| 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 | $43,925 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,956 |
| Insurance | $7,025 |
| All other expenses | $0 |
| Total functional expenses | $2,043,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $182,850 |
| Pledges and grants receivable | $6,700 |
| Accounts receivable, net | $66,564 |
| 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 | $20,976 |
| Net Land, buildings, and equipment | $109,698 |
| Investments—publicly traded securities | $24,477,222 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $524,393 |
| Total assets | $25,388,403 |
| Accounts payable and accrued expenses | $53,022 |
| Grants payable | $0 |
| Deferred revenue | $304,058 |
| 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 | $309,955 |
| Total liabilities | $667,035 |
| Net assets without donor restrictions | $1,136,710 |
| Net assets with donor restrictions | $23,584,658 |
| 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 | $25,388,403 |