2024-05-15T21:19:37-05:00 2023-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2022-07-01 221815636 RARITAN VALLEY COMMUNITY COLLEGE RARI 9085261200 PO BOX 3300 SOMERVILLE NJ 08876 JOHN TROJAN V.P. FINANCE AND FACILITIES 9085261200 2024-05-15 1 JOHN TROJAN 999009999 1 GARRETT M HIGGINS P00543209 2017129800 2024-05-15 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN TROJAN PO BOX 3300 SOMERVILLE NJ 08876 83807368 0 X WWW.RARITANVAL.EDU X 1966 NJ TO DEVELOP CRITICAL THINKING, FOSTER INTELLECTUAL CURIOSITY, PROMOTE LEADERSHIP, ENCOURAGE SOCIAL RESPONSIBILITY AND SUPPORT PERSONAL GROWTH. 15 15 1086 200 0 0 47811271 52351148 27952017 31104319 12814 212816 158623 139085 75934725 83807368 17473701 11367333 0 0 43016381 44734110 0 0 0 16013218 16510247 76503300 72611690 -568575 11195678 101078699 112053232 33967563 34289643 67111136 77763589 RARITAN VALLEY COMMUNITY COLLEGE IS AN EDUCATIONAL COMMUNITY THAT WORKS TO DEVELOP CRITICAL THINKING, FOSTER INTELLECTUAL CURIOSITY, PROMOTE LEADERSHIP, ENCOURAGE SOCIAL RESPONSIBILITY AND SUPPORT PERSONAL GROWTH. 0 0 60237310 11367333 31104319 COMMUNITY COLLEGE OF APPROXIMATELY 6,321 CREDIT-SEEKING STUDENTS AND NEARLY 1,200 NON-CREDIT STUDENTS. 60237310 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 9633 0 1086 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 X JOHN TROJAN VP FINANCE AND FACILITIES 9085261200 118 LAMINGTON ROAD NORTH BRANCH NJ 08876 CAREN BATEMAN CHAIRPERSON 2.00 0.00 X X 0 0 0 ROGER R LOCANDRO VICE-CHAIRPERSON 2.00 0.00 X X 0 0 0 HELENA SWANICKE VICE-CHAIRPERSON 2.00 0.00 X X 0 0 0 TRACY DIFRANCESCO ZAIKOV VICE-CHAIRPERSON, THRU 10/25/22 2.00 0.00 X X 0 0 0 NIDHI MAKHIJA TREASURER 2.00 0.00 X X 0 0 0 JUAN TORRES SECRETARY 2.00 0.00 X X 0 0 0 THOMAS P BOROWSKI TRUSTEE 2.00 0.00 X 0 0 0 ZENON CHRISTODOULOU TRUSTEE 2.00 0.00 X 0 0 0 PRESTON CLAWSON TRUSTEE 2.00 0.00 X 0 0 0 JINNEE DEMARCO TRUSTEE 2.00 0.00 X 0 0 0 W TIMOTHY HOWES TRUSTEE 2.00 0.00 X 0 0 0 ROGER A JINKS TRUSTEE 2.00 0.00 X 0 0 0 HOWARD J OPDYKE TRUSTEE 2.00 0.00 X 0 0 0 ADAM SHAIN TRUSTEE 2.00 0.00 X 0 0 0 MARGARET WOLAN SULLIVAN TRUSTEE 2.00 0.00 X 0 0 0 JAMES A VON SCHILLING TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL J MCDONOUGH PRESIDENT 37.50 2.00 X 365521 0 87688 JOHN J TROJAN VP OF FINANCE & FACILITIES 37.50 3.00 X 225967 0 33013 JACKI W BELIN VP STUDENT AFFAIRS & OUTREACH 37.50 0.00 X 199229 0 37323 PATRICE F MARKS DEAN LFA &BPS, ALO 37.50 0.00 X 177708 0 27343 MICHAEL J MARION EXECUTIVE DIRECTOR OF FOUNDATION 37.50 2.00 X 186432 0 14666 BRIAN P O'ROURKE EXECUTIVE DIRECTOR OF FACILITIES & GROUNDS 37.50 0.00 X 166174 0 13441 BARBARA SEATER ASSOCIATE PROFESSOR SOCIOLOGY 35.00 0.00 X 162491 0 11746 CHERYL WALLACE VP OF HR, COMPLIANCE & SECURITY 37.50 0.00 X 162349 0 18465 DEBORAH E PRESTON FORMER PROVOST/VP ACADEMIC AFFAIRS 0.00 0.00 X 108062 0 9020 1753933 0 252705 74 1 1 0 STRUCTURAL CONCEPTS INC 1305 S ROLLER ROAD OCEAN NJ 07712 CONSTRUCTION SERVICES 2874889 ALLIED UNIVERSAL SECURITY 1661 US HIGHWAY 22 BOUND BROOK NJ 08805 SECURITY SERVICES 699729 FASTFORWARD DIGITAL LLC 163 MADISON AVENUE STE 220-5 MORRISTOWN NJ 07960 MARKETING SERVICES 641000 PINAKIN IT SOLUTIONS LLC 1201 N ORANGE STREET STE7404 WILMINGTON DE 19801 INFORMATION TECHNOLOGY SERVICES 326426 4 525112 50510084 1315952 116529 52351148 TUITION AND FEES 611310 29638988 29638988 AUXILIARY SERVICES 611310 1412366 1412366 EDUCATIONAL PROGRAMS 611310 52965 52965 31104319 212816 212816 163 163 50297 0 50297 50297 50297 SPONSORSHIP FEE 900099 25000 25000 COMMISSION 900099 22241 22241 TESTING 900099 18948 18948 22436 22436 88625 83807368 31104319 0 351901 11367333 11367333 970793 14034 956759 33500469 27445328 6055141 1580584 1345765 234819 5871463 4733520 1137943 2810801 2248641 562160 86888 86888 70000 70000 3262280 2609824 652456 439772 351818 87954 293871 235097 58774 1447862 1158290 289572 1255428 1004342 251086 96567 77254 19313 187131 149705 37426 6745211 5396169 1349042 438936 351149 87787 REPAIRS & MAINTENANCE 1122873 898298 224575 MISCELLANEOUS EXPENSES 494831 395865 98966 FOOD SERVICE 452872 362298 90574 LICENSE ACQUISITION 115725 92580 23145 72611690 60237310 12374380 0 20341818 20781268 73134 5783460 13477088 2663040 2186152 19570 13195 418918 63370 154759076 84400378 70176083 70358698 1675810 5100327 101078699 112053232 5279008 4764720 2212528 2407949 26476027 27116974 33967563 34289643 X 67111136 77763589 67111136 77763589 101078699 112053232 X 11195678 -279570 -263655 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1768794 1768794 128625379 68549672 60075707 22451496 14076566 8374930 1913407 1774140 139267 70358698 COMPENSATED ABSENCES 4089022 DEPOSITS 380341 DEPOSITS HELD IN CUSTODY FOR OTHER 671787 NET PENSION LIABILITY 14885227 DEFERRED PENSION LIABILITY 3813421 SOFTWARE SUBSCRIPTION LIABILITY 3277176 27116974 X 72541126 0 72541126 11266242 11266242 83807368 61609103 3140893 3140893 58468210 14143480 14143480 72611690 PART X, LINE 2: THE MOST SIGNIFICANT TAX POSITION OF THE COLLEGE IS ITS ASSERTION THAT IT IS EXEMPT FROM INCOME TAXES. OTHER SIGNIFICANT TAX POSITIONS INCLUDE ITS DETERMINATION OF WHETHER ANY AMOUNTS ARE SUBJECT TO UNRELATED BUSINESS TAX (UBIT). MANAGEMENT HAS DETERMINED THAT THE COLLEGE HAD NO ACTIVITIES SUBJECT TO UBIT IN THE YEARS ENDED JUNE 30, 2023 OR 2022. ALL SIGNIFICANT TAX POSITIONS HAVE BEEN CONSIDERED BY MANAGEMENT AND IT HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ALL TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE COLLEGE IS REQUIRED TO FILE FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) WHICH IS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF THE TAX RETURN. THE FORMS 990 FOR 2020 THROUGH 2022 ARE OPEN TO EXAMINATION BY THE IRS AS OF JUNE 30, 2023. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES NETTED AGAINST TUITION AND FEES 11,266,242. PART XII, LINE 2D - OTHER ADJUSTMENTS: GASB 75 - OTHER POSTEMPLOYMENT BENEFITS 3,140,893. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES NETTED AGAINST TUITION AND FEES 11,266,242. GASB 68 - PENSION 2,877,238. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE HAS A DISCRIMINATION STATEMENT IS ON THE BOTTOM OF ITS HOME PAGE ALONG WITH THE NAME AND CONTACT INFORMATION FOR ITS TITLE IX ADMINISTRATOR. IN JANUARY AND AUGUST, PRIOR TO REGISTRATION, A LARGE ADVERTISEMENT IS TAKEN OUT IN THE LOCAL NEWSPAPERS IN BOTH ENGLISH AND SPANISH. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL AID AND ASSISTANCE FROM THE STATE OF NEW JERSEY AND THE COUNTIES OF SOMERSET AND HUNTERDON, NEW JERSEY. 1 FINANCIAL AID 2783 11266242 HEERF STUDENT GRANTS 49 18500 SCHOLARSHIPS 2 3141 STIPENDS 52 79450 PART I, LINE 2: GRANT SPENDING FOLLOWS THE COLLEGE'S APPROVAL POLICY. THE GRANT PI (BUDGET MANAGER) CAN APPROVE UP TO $1,000. THE DIRECTOR OF GRANTS APPROVES ALL EXPENDITURES GREATER THAN $1,000. THE VP OF FINANCE APPROVES ALL EXPENDITURES GREATER THAN $2,000. THE FINANCE OFFICE PREPARES MONTHLY GRANT SPENDING SUMMARIES THAT ARE REVIEWED WITH THE GRANTS PERSONNEL. ALL GRANT SPENDING IS REVIEWED AND AVAILABLE BUDGET & ACCOUNT CODES ARE VERIFIED PRIOR TO THE APPROVAL OF PURCHASE REQUISITIONS. FINANCIAL AID GRANTS ARE ADMINISTERED BY THE FINANCIAL AID DEPARTMENT. FEDERAL FINANCIAL AID ROSTERS ARE SENT TO THE FINANCE OFFICE FOR RECONCILIATION TO THE GL PRIOR TO SUBMITTING A DRAWDOWN REQUEST. X 1 0 X 0 0 0 0 0 0 0 1 0 MICHAEL J MCDONOUGH PRESIDENT 277094 0 15000 0 73427 0 49000 0 38688 0 453209 0 0 0 JOHN J TROJAN VP OF FINANCE & FACILITIES 205547 0 0 0 20420 0 31726 0 1287 0 258980 0 0 0 JACKI W BELIN VP STUDENT AFFAIRS & OUTREACH 179924 0 0 0 19305 0 14000 0 23323 0 236552 0 0 0 PATRICE F MARKS DEAN LFA &BPS, ALO 166891 0 0 0 10817 0 13667 0 13676 0 205051 0 0 0 MICHAEL J MARION EXECUTIVE DIRECTOR OF FOUNDATION 171934 0 0 0 14498 0 13379 0 1287 0 201098 0 0 0 CHERYL WALLACE VP OF HR, COMPLIANCE & SECURITY 155541 0 0 0 6808 0 11995 0 6470 0 180814 0 0 0 BRIAN P O'ROURKE EXECUTIVE DIRECTOR OF FACILITIES & GROUNDS 164748 0 0 0 1426 0 12941 0 500 0 179615 0 0 0 BARBARA SEATER ASSOCIATE PROFESSOR SOCIOLOGY 162491 0 0 0 0 0 0 0 11746 0 174237 0 0 0 DEBORAH E PRESTON FORMER PROVOST/VP ACADEMIC AFFAIRS 99114 0 0 0 8948 0 7645 0 1375 0 117082 0 0 0 PART I, LINE 1A THE PRESIDENT IS PROVIDED WITH A HOUSING ALLOWANCE OF $39,700 AND CAR ALLOWANCE OF $4,800, A PORTION OF THE CAR ALLOWANCE IS TAXABLE. PART I, LINE 7 THE ORGANIZATION PAID A DISCRETIONARY BONUS TO CERTAIN INDIVIDUALS LISTED ON PART VII, BASED ON INDIVIDUAL PERFORMANCE AND WITHIN THE APPROVED BUDGET OF THE ORGANIZATION. THE BONUS AMOUNTS WERE DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS AND WERE INCLUDED IN THE INDIVIDUALS' TAXABLE COMPENSATION. X LAB SUPPLIES 0 110529 COST X MONITORS 0 6000 COST 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM. THE COLLEGE'S CONTROLLER AND EXECUTIVE DIRECTOR OF FINANCE (CEDF) AND VP OF FINANCE AND FACILITIES EACH SEPARATELY REVIEW THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT APPLIES TO OFFICERS, TRUSTEES, AND KEY EMPLOYEES WHO ARE REQUIRED TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICT. THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE VP OF HUMAN RESOURCES REVIEWS EXISTING JOB DESCRIPTIONS WITH THE PRESIDENT AND DETERMINES AN APPROPRIATE SALARY RANGE BASED ON COMPARABLE WITHIN THE STATE. POSITIONS ARE ADVERTISED IN VARIOUS JOB SITES. SEARCH COMMITTEES ARE ESTABLISHED TO REVIEW RESPONDING CANDIDATES. THE COMMITTEE RECOMMENDS USUALLY TWO CHOICES FOR THE PRESIDENT TO CONSIDER. THE VP OF HUMAN RESOURCES PROVIDES OBJECTIVE DATA TO THE BOARD OF GOVERNANCE COMMITTEE REGARDING THE PRESIDENT'S AND OTHER KEY EMPLOYEES' COMPENSATION. ALL COMPENSATION IS REVIEWED AND APPROVED BY THE PRESIDENT. THE LAST FORMAL SURVEY WAS PERFORMED IN 2021. NEW POSITIONS ARE REVIEWED AS THEY CREATED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 1023, FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: GASB 68 - PENSION 2,877,238. GASB 75 - OPEB -3,140,893. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. RARITAN VALLEY COMMUNITY COLLEGE FOUNDATION PO BOX 3300 SOMERVILLE NJ 08876 237138731 FUNDRAISING NJ 501(C)(3) LINE 5 RARITAN VALLEY COMMUNITY COLLEGE 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 RARITAN VALLEY COMMUNITY COLLEGE FOUNDATION C 525112 COST