New Jersey City University Foundation Inc
- Assets
- $84.7m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Jersey City, NJ
- Founding
- 09/1983
- Data as of
- 06/2022
- EIN
- 23-7261698
Organization Overview
New Jersey City University Foundation Inc is located in Jersey City, NJ. The organization was established in 1983. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, 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. New Jersey City University 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 06/2022, New Jersey City University Foundation Inc generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $4.5m during the year ending 06/2022. While expenses have increased by 23.4% 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
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: THE FOUNDATION PROVIDED FUNDING TO NEW JERSEY CITY UNIVERSITY FOR STUDENT SCHOLARSHIPS AND OTHER PROGRAMMATIC PURPOSES.
OTHER ACTIVITIES: OTHER ACTIVITIES OF THE FOUNDATION ARE ATTRIBUTABLE TO SUPPORT PROVISIONAL ACTIVITIES OF THE UNIVERSITY AND OF SURROUNDING ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kwi Brennan Executive Director(non-Voting) | OfficerTrustee | 2 | $0 |
Andrea Ducas Director -Secretary | OfficerTrustee | 1 | $0 |
Edward O'connor Director -Vice Chair | OfficerTrustee | 1 | $0 |
Peter Hernandez Director-Chair | OfficerTrustee | 1 | $0 |
Stephen Hess Director-Treasurer | OfficerTrustee | 1 | $0 |
Aisha Thomas-Petit Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mccarter & English Legal Services | 6/29/22 | $170,710 |
Aj Celiano Inc Hvac Services | 6/29/22 | $171,278 |
Harrisonrand Advertising Advertising Services | 6/29/22 | $180,000 |
Studio Hillier Llc Architect Services | 6/29/22 | $192,398 |
Investors Bank Financial Services | 6/29/22 | $300,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $180,939 |
| Related organizations | $0 |
| Government grants | $134,405 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,554,093 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,869,437 |
| Total Program Service Revenue | $0 |
| Investment income | $589,810 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $415 |
| Net Rental Income | $1,729,045 |
| Net Gain/Loss on Asset Sales | $35,370 |
| Net Income from Fundraising Events | -$6,748 |
| Net Income from Gaming Activities | $2,150 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,332,476 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,489,035 |
| 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 | $32,862 |
| Fees for services: Legal | $136,067 |
| Fees for services: Accounting | $60,103 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $109,890 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,000 |
| Office expenses | $23,790 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,960 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $147 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,570,913 |
| Insurance | $11,133 |
| All other expenses | $8,322 |
| Total functional expenses | $4,482,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,307,191 |
| Savings and temporary cash investments | $7,852,191 |
| Pledges and grants receivable | $3,401,343 |
| Accounts receivable, net | $2,853,488 |
| 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 | $0 |
| Net Land, buildings, and equipment | $45,294,464 |
| Investments—publicly traded securities | $19,959,412 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $84,668,089 |
| Accounts payable and accrued expenses | $7,391,927 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $47,992,626 |
| 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 | $55,384,553 |
| Net assets without donor restrictions | $6,106,786 |
| Net assets with donor restrictions | $23,176,750 |
| 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 | $84,668,089 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that New Jersey City University Foundation Inc has recieved totaling $850,156.
| Awarding Organization | Amount |
|---|---|
Niswarth International Foundation Parsippany, NJ PURPOSE: UNRESTRICTED | $171,394 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $140,000 |
Niswarth International Foundation Parsippany, NJ PURPOSE: UNRESTRICTED | $124,641 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $120,200 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $70,000 |
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $67,000 |
Endowment Analysis
| Beg. Balance | $25,598,633 |
| Earnings | -$2,263,058 |
| Net Contributions | $1,820,351 |
| Other Expense | $110,402 |
| Grants | $2,006,020 |
| Ending Balance | $23,039,504 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Valley Forge Of The Assemblies Of God Phoenixville, PA | $33,204,385 | $17,692,057 |
Manor College Jenkintown, PA | $17,591,857 | $16,869,766 |
Boricua College New York, NY | $59,386,544 | $9,310,938 |
Purchase College Association Inc Suny College At Purchase Purchase, NY | $7,359,023 | $12,412,930 |
Bard College Berlin A Liberal Arts University Ggmbh Annandaleonhudson, NY | $6,902,665 | $9,754,938 |
Pennsylvania Institue Of Technology Media, PA | $8,362,791 | $13,243,605 |
The College Of New Jersey Foundation Inc Ewing, NJ | $60,398,961 | $30,765,630 |
Fei Tian College Cuddebackville, NY | $23,027,384 | $17,138,947 |
Glasgow Caledonian New York College New York, NY | $1,610,986 | $5,230,742 |
Morrisville College Foundation Inc Morrisville, NY | $23,531,856 | $5,429,338 |
New Jersey City University Foundation Inc Jersey City, NJ | $84,668,089 | $4,332,476 |
Army War College Foundation Incorporated Carlisle, PA | $21,024,371 | $2,863,778 |