Ocean County College Foundation
- Assets
- $20.3m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Toms River, NJ
- Founding
- 05/1967
- Data as of
- 06/2022
- EIN
- 22-2303358
Organization Overview
Ocean County College Foundation is located in Toms River, NJ. The organization was established in 1967. 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. Ocean County 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, Ocean County College Foundation generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.4% each year . All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 7.8% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE STUDENT SCHOLARSHIPS, AWARDS, LOANS AND COMMUNITY PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY PROGRAMS
SCHOLARSHIPS AND AWARDS TO STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Casey Yetman Mundry Secretary | OfficerTrustee | 1 | $0 |
Richard D Galgano Treasurer | OfficerTrustee | 1 | $0 |
Michael Manzo Vice Chair | OfficerTrustee | 1 | $0 |
David G Paulus Chairman | OfficerTrustee | 1 | $0 |
Kenneth J Malagiere Executive Dir. | Officer | 40 | $0 |
Virginia E Haines Trustee | Trustee | 1 | $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 | $2,689,330 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,689,330 |
| Total Program Service Revenue | $19,635 |
| Investment income | $213,436 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $203,580 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,457,940 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $537,090 |
| 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 | $179,811 |
| 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 | $7,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,256 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $385 |
| 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 | $6,000 |
| Insurance | $3,517 |
| All other expenses | $33,389 |
| Total functional expenses | $1,329,236 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,353,284 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $255,525 |
| Accounts receivable, net | $42,635 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $36,113 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,250 |
| Net Land, buildings, and equipment | $45,000 |
| Investments—publicly traded securities | $17,523,590 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,287,397 |
| Accounts payable and accrued expenses | $334,953 |
| Grants payable | $0 |
| Deferred revenue | $1,300 |
| 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 | $336,253 |
| Net assets without donor restrictions | $2,239,790 |
| Net assets with donor restrictions | $17,711,354 |
| 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 | $20,287,397 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ocean County College Foundation has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Kotzas Fam Charitable Foundation Toms River, NJ PURPOSE: CHARITABLE | $1,500 |
Endowment Analysis
| Beg. Balance | $16,462,099 |
| Earnings | -$2,148,403 |
| Admin Expense | $256,913 |
| Net Contributions | $363,818 |
| Other Expense | $23,325 |
| Grants | $151,921 |
| Ending Balance | $14,245,355 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Unidel Foundation Inc Greenville, DE | $452,249,782 | $36,851,681 |
Hunter College Foundation Inc New York, NY | $144,509,988 | $37,248,838 |
The American Friends Of Winchester College New York, NY | $259,900 | $15,435,931 |
Friends Of@ascend Charter Schools Inc Brooklyn, NY | $51,013,536 | $16,135,870 |
Rowan University Foundation Inc Glassboro, NJ | $339,808,677 | $39,224,287 |
Equitable Facilities Fund Inc New York, NY | $843,754,758 | $34,535,002 |
Stockton Affiliated Services Inc Galloway, NJ | $3,017,488 | $12,674,409 |
Auxiliary Campus Enterprises And Services State University College Alfred, NY | $11,814,689 | $16,740,654 |
College Of Staten Island Auxiliary Services Corp Inc Staten Island, NY | $62,695,629 | $9,780,570 |
American Friends Of The National Gallery London Inc New York, NY | $305,852,204 | $2,300,126 |
Auxiliary Services Corporation Of Suny Cortland Cortland, NY | $19,099,097 | $10,450,642 |
The Roosevelt Institute New York, NY | $39,947,474 | $14,561,739 |