2020-12-11T11:10:15-06:00 2020-06-30 271728945 PKF O'CONNOR DAVIES LLP 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2019-07-01 226017209 MONTCLAIR STATE UNIVERSITY FOUNDATION INC MONT 9736554344 ONE NORMAL AVE COLLEGE HALL NO 30 MONTCLAIR NJ 07043 JEFF CAMPO EXEC. DIR/AVP - FINANCE 9736554344 2020-12-08 1 JOSEPH N RUSSELL P00168046 2017129800 2020-12-07 2019 2022-09-23 18:48:47Z GREGORY COLLINS ONE NORMAL AVE COLLEGE HALL NO 300 MONTCLAIR NJ 07043 32230246 0 X WWW.MONTCLAIR.EDU/GIVING X 1960 NJ DURING FISCAL 2020, THE FOUNDATION CONCLUDED ITS COMPREHENSIVE FUNDRAISING CAMPAIGN. THE CAMPAIGN RAISED NON-ENDOWED AND ENDOWED FUNDING TO SUPPORT CORE INITIATIVES FOR SCHOLARSHIP SUPPORT TO STUDENTS BASED ON NEED AND MERIT-BASED PARAMETERS WHILE ALSO PROVIDING SUPPORT TO INCREASE THE ACADEMIC RESOURCES AND ENHANCE FACILITIES WHICH FURTHER THE STUDENT LEARNING EXPERIENCE.FOR FISCAL 2020 THE FOUNDATION CONTINUED ITS INCREASED SCHOLARSHIP SUPPORT FOR THE STUDENTS OF THE UNIVERSITY, INCLUDING INCREASED SUPPORT OF ENDOWED SCHOLARSHIPS BY VIRTUE OF FUND RAISING EFFORTS. THE FOUNDATION ALSO EXPANDED ITS FOCUS THROUGH NEWLY FORMED SCHOLARSHIPS THAT EXTENDED OPPORTUNITIES TO STUDENTS ON THE BASIS OF NEED AND MERIT.IN ADDITION, THE FOUNDATION ALSO PROVIDED ADDITIONAL SUPPORT FOR RESEARCH SPECIFIC FUNDING FOR THE UNIVERSITY SCIENCES AS WELL AS PROVIDING SUPPORT TO CORE LEARNING CENTERS WHICH OFFER SPECIALIZED LEARNING TO STUDENTS IN CERTAIN CONCENTRATIONS OF STUDY. 24 24 0 26 0 0 8891434 6791207 95800 90900 2455464 3405217 120117 110289 11562815 10397613 6838825 7141786 0 0 0 0 169000 0 241370 1362657 1439019 8370482 8580805 3192333 1816808 91802430 93475584 2714035 3239661 89088395 90235923 X THE MONTCLAIR STATE UNIVERSITY FOUNDATION ("THE FOUNDATION") WAS ESTABLISHED FOR THE PURPOSE OF ENCOURAGING AND SUPPORTING THE GROWTH AND DEVELOPMENT OF MONTCLAIR STATE UNIVERSITY THROUGH FUNDRAISING ACTIVITIES WHICH AID IN FURTHERING THE EDUCATIONAL, EXPERIENTAL, AND CULTURAL INFLUENCE FOR ITS STUDENTS, FACULTY, AND STAFF.FUNDS RAISED ARE USED PRIMARILY FOR SCHOLARSHIP SUPPORT, SUPPORT FOR PROGRAMMATIC INITIATIVES WHICH ESTABLISH AND OR FUND CENTERS FOR ACADEMIC RESEARCH AND STUDY, AND SUPPORT FOR THE MAINTENANCE AND REPAIR OF ACADEMIC FACILITIES. 0 0 3849527 3849527 90900 MONTCLAIR STATE UNIVERSITY SUSTAINS ITS REPUTATION FOR EXCELLENCE IN PART BY PROVIDING EXCEPTIONAL CURRICULAR AND PROGRAMMATIC ACTIVITIES WHICH FOSTER A HIGH QUALITY LEARNING ENVIRONMENT. THE FOUNDATION PROVIDES NEEDED SUPPORT TO COLLEGES/SCHOOLS ON THE UNIVERSITY CAMPUS TOWARDS THIS ENDEAVOR, AUGMENTING STATE BUDGETED FUNDS WITH ADDITIONAL FUNDING FOR ENHANCED COURSE CURRICULUM, THE OPERATIONS OF INSTITUTES WHICH FURTHER LEARNING, AND OTHER ESSENTIAL NEEDS. FUNDING IS RECEIVED FROM INDIVIDUALS, CORPORATIONS, PRIVATE FOUNDATION AND OTHER SOURCES. THE FOUNDATION MANAGES OVER 600 FUNDS WHICH HAVE BEEN CREATED BASED ON DONOR RESTRICTIONS TOWARDS THESE PURPOSES. FUNDS MAY BE TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED (ENDOWED) BASED ON DONOR INTENT. TOP PROGRAMS SUPPORTED IN FISCAL 2020 INCLUDED THE CENTER FOR ENTREPRENEURSHIP, THE SCHOOL OF COMMUNICATIONS & MEDIA, RESEARCH PROGRAMS FOR ENVIRONMENTAL SUSTAINABILITIY, ARTS & THEATER, AND STEM TRAINING PROGRAMS WHICH ENHANCE EDUCATION IN INNER CITIES. FOUNDATION SUPPORT OFTEN SERVES AS THE SOLE SOURCE OF FUNDING IN ORDER TO SUSTAIN THESE VITAL INITIATIVES. 3095401 3095401 THE FOUNDATION MANAGES IN EXCESS OF 225 FUNDS ESTABLISHED TO AWARD SCHOLARSHIPS FOR THE STUDENT POPULATION OF MONTCLAIR STATE UNIVERSITY. SCHOLARSHIP FUNDS ARE AVAILABLE TO STUDENTS BASED ON NEED OR MERIT. ADDITIONALLY, SUCH FUNDS PERMIT THE AWARD TO STUDENTS AT THE ADMISSIONS LEVEL AND/OR ARE RESTRICTED TO A SPECIFIC COLLEGE/SCHOOL, DEPARTMENT, MAJOR OR OTHER DEFINED CRITERIA. FUNDING TOWARDS SCHOLARSHIPS IS GENERATED FROM INDIVIDUALS, CORPORATIONS, PRIVATE FOUNDATIONS, EVENTS AND OTHER SOURCES. FUNDS MAY BE TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED (ENDOWED) BASED ON DONOR INTENT. THE FOUNDATION, IN SERVING THE NEEDS OF MONTCLAIR STATE UNIVERSITY, ACKNOWLEDGES THAT ONE OF THE TOP PRIORITIES FOR FUNDRAISING STEMS FROM THE NEED TO MEET THE CHALLENGES REGARDING THE COST OF EDUCATION FOR TODAY'S STUDENTS. THE FOUNDATION FOCUSES ON BOTH SHORT-TERM AND LONG-TERM NEEDS, FACTORING INCREASING STUDENT ENROLLMENT, THE ECONOMY, STATE FUNDING TO THE UNIVERSITY, AND LONG RANGE GROWTH PLANS; AMONG OTHER FACTORS. SCHOLARSHIP AWARDS CONTINUE TO INCREASE AND FOR FISCAL 2020 IN EXCESS OF 1,500 AWARDS WERE MADE TO BOTH NEED AND MERIT BASED STUDENTS. 93683 93683 THE FOUNDATION MANAGES TWO ANNUAL EVENTS WHICH ARE DESIGNED TO INCREASE DONOR CONNECTIVITY, AWARENESS OF THE NEEDS OF THE UNIVERSITY AND THE FOUNDATION, AND TO FULFILL THE MISSION OF ACADEMIC EXCELLENCE. ONE EVENT PROVIDES FOCUSED FUNDRAISING TOWARDS SCHOLARSHIPS WHILE THE SECOND ENABLES THE FOUNDATION TO PROVIDE RESOURCES FOR MUCH NEEDED SUPPORT TO UNIVERSITY STUDENT-ATHLETES AS THEY BALANCE THEIR ATHLETIC COMMITMENTS WITH EDUCATIONAL PRIORITIES. FOR FISCAL 2020 THE NET PROCEEDS OF THE GOLF OUTING WERE USED TO DEVELOP VIRUTAL BROADCASTING CAPABILITIES FOR ALL SPORTING EVENTS IN A SOCIAL MEDIA ENVIRONMENT. DUE TO THE GLOBAL PANDEMIC, THE ANNUAL SCHOLARSHIP DINNER WAS HELD VIRTUALLY. REVENUES REALIZED FOR FISCAL 2020 WERE UTILIZED AS AWARDS TO INCOMING FRESHMEN STUDENTS ACCROSS ALL DISCPLINES AND MAJORS, PROVIDING NEED BASED AWARDS TO STUDENTS. 103175 103175 103175 103175 7141786 1 1 0 0 0 0 0 1 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 111 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NJ NY CA PA X X X JEFF CAMPO 9736554344 ONE NORMAL AVENUE COLLEGE HALL ROOM MONTCLAIR NJ 07043 JEFFREY CAMPO EXEC. DIR/AVP - FINANCE 40.00 X 132283 0 22513 MICHAEL L CAPONE CHAIRPERSON 1.00 X X 0 0 0 GREGORY COLLINS VICE CHAIR 1.00 X X 0 0 0 ROBERT IACULLO TREASURER 1.00 X X 0 0 0 ANTHONY CARLINO SECRETARY 1.00 X X 0 0 0 ANGELO J GENOVA TRUSTEE 1.00 X 0 0 0 DENNIS BONE TRUSTEE 1.00 X 0 0 0 ELLEN MCSHERRY TRUSTEE 1.00 X 0 0 0 GERALD APPELSTEIN TRUSTEE 1.00 X 0 0 0 HAROLD BRYANT TRUSTEE 1.00 X 0 0 0 JAMES MERLI TRUSTEE 1.00 X 0 0 0 JEFFREY L JOHNSON TRUSTEE 1.00 X 0 0 0 JOHN E SULLIVAN TRUSTEE 1.00 X 0 0 0 JUDITH A SCHUMACHER-TILTON TRUSTEE 1.00 X 0 0 0 JULIE JACKSON TRUSTEE, THRU 01/2020 1.00 X 0 0 0 KEITH ANSBACHER TRUSTEE 1.00 X 0 0 0 LESTER TAYLOR TRUSTEE 1.00 X 0 0 0 MARCELLA LOCASTRO TRUSTEE 1.00 X 0 0 0 MICHAEL H FORMAN TRUSTEE, THRU 01/2020 1.00 X 0 0 0 PENELOPE VANCE TRUSTEE 1.00 X 0 0 0 ROBERT GREGORY TRUSTEE 1.00 X 0 0 0 ROBERT J LIEBERMAN TRUSTEE 1.00 X 0 0 0 STEVEN RESNICK TRUSTEE 1.00 X 0 0 0 COLLEEN COPPLA - EX-OFFICIO TRUSTEE 1.00 X 0 0 0 DAVID TRUBATCH - EX OFFICIO TRUSTEE 1.00 X 0 0 0 ROSE C CALI - EX OFFICIO TRUSTEE 1.00 X 0 0 0 SUSAN COLE - EX OFFICIO TRUSTEE 1.00 X 0 0 0 132283 0 22513 1 0 1 1 GOLDMAN SACHS 200 WEST ST NEW YORK NY 10282 INVESTMENT ADVISOR 312743 RNL 1025 KIRKLAND PKWY SW CEDAR RAPIDS IA 52404 CALL CENTER MANAGEMENT/CROWDFUNDING 128211 2 470604 6320603 824364 6791207 TEACHER PROGRAM 611710 90900 90900 90900 2746131 2746131 124625 124625 22398036 21738950 659086 659086 659086 79347 470604 93683 -14336 -14336 10397613 90900 0 3515506 7141786 7141786 14404 14404 85000 85000 355306 355306 47648 47648 100619 100619 2449 2449 1173 1173 26591 26591 24991 24991 PURCHASED SERVICES 534242 534242 FUNDRAISING EXPENSES 241370 241370 DIRECT OPERATING EXPENS 5226 5226 8580805 7141786 1197649 241370 6128 9457 1749171 2590711 5481130 6092682 29793 26270 90352 66046 73237330 71657536 9956252 11807198 1252274 1225684 91802430 93475584 2714035 3239661 2714035 3239661 X 4631005 3844866 84457390 86391057 89088395 90235923 91802430 93475584 X 1816808 -561036 -108244 X X 0 1 X 1 0 X 6826080 8123871 6872939 8718712 6791207 37332809 42480 32440 22400 22400 22400 142120 6868560 8156311 6895339 8741112 6813607 37474929 4399271 33075658 2149213 1857099 2051054 2514468 2870756 11442590 17731 5308 23039 59963 59963 49000521 464350 0.67500 0.62730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 100000 1187003 X X X SEE SCHEDULE O 0 79238881 2436467 3299887 3852289 81122946 74058643 4215598 4015006 3050366 79238881 72053074 1307619 3077561 2379611 74058643 62841531 4123695 7472632 2384784 72053074 60330324 2203724 2576634 2269151 62841531 0.02990 0.61470 0.35540 0 0 0 BENEFICIAL INTEREST IN TRUSTS 295953 F BENEFICIAL INTEREST IN SPLIT-INTEREST AGREEMENTS 26855 F CASH SURRENDER VALUE OF LIFE INSURANCE 93958 F ALTERNATIVE INVESTMENTS 9640888 F PRIVATE EQUITY REAL ESTATE 815691 F PRIVATE CREDIT 933853 F 11807198 X 11640758 -561036 2095009 64478 1598451 10042307 355306 355306 10397613 10493230 2095009 172722 2267731 8225499 355306 355306 8580805 PART III, LINE 4: WILSON ART IS HELD FOR SCHOLARLY RESEARCH BY UNIVERSITY STUDENTS ENTERED IN THE COLLEGE OF THE ARTS, WITH AN ADDITIONAL INTENT TO HOLD PIECES FOR STUDY BY FUTURE GENERATIONS. THE WILSON ART WORK IS CONSIDERED TO BE AN EXAMPLE OF ABSTRACT EXPRESSIONISM IN POST-WORLD WAR II PROVIDING A DEPTH OF ART FROM A NEW JERSEY BASED ARTIST WITH ROOTS IN NEW YORK CITY. THE ART FURTHERS THE MISSION OF THE FOUNDATION AS IT SERVES THE EXPERIENTIAL LEARNING ENVIRONMENT FOR MONTCLAIR STATE UNIVERSITY STUDENTS. PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS AND OTHER GRANTS IN COMPLIANCE WITH THE DONOR PROVISIONS. PART X, LINE 2: THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE FOUNDATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO THE YEAR 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST, CASH SURRENDER, & BENEFICIAL INTEREST 64,478. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE-OFF OF PRIOR YEAR PLEDGES DEEMED UNCOLLECTIBLE 172,722. MSU ANNUAL DINNER 397131 397131 60083 RED HAWK OPEN 102633 73473 29160 30715 2885 15 50187 50187 549951 470604 79347 30715 62968 93683 -14336 1 MONTCLAIR STATE UNIVERSITY 1 NORMAL AVENUE MONTCLAIR NJ 07043 222912682 170(C)(1) 7141786 GRANTS TO SUPPORT UNIVERSITY EDUCATIONAL ASSISTANCE & PROGRAMS 1 PART I, LINE 2: THE FOUNDATION RELIES ON MONTCLAIR STATE UNIVERSITY FOR THE SELECTION OF GRANTEES AND FOR THE ESTABLISHMENT OF CRITERIA FOR AWARDING GRANTS. THE UNIVERSITY TRACKS THE USE OF GRANT PROCEEDS AND TRACKS THE USAGE OF THE GRANT IN ACCORDANCE WITH THE GRANT AWARD TERMS. 0 0 0 0 0 0 0 0 0 JEFFREY CAMPO EXEC. DIR/AVP - FINANCE 130055 0 0 0 2228 0 6680 0 15833 0 154796 0 0 0 PART VII, LINE 5 JEFFREY CAMPO, EXECUTIVE DIR./AVP OF FINANCE, IS EMPLOYED AND COMPENSATED BY MONTCLAIR STATE UNIVERSITY, AN UNRELATED PARTY. HE DEVOTES 75% OF HIS TIME TO MONTCLAIR STATE UNIVERSITY FOUNDATION AND, IN COMPLIANCE WITH PART VII INSTRUCTIONS OF THE 990, HAS 75% OF HIS COMPENSATION ALLOCATED TO THE FOUNDATION ($154,796). X 3 100000 APPRAISAL X 10 723264 SELLING PRICE X 1 1000 COST/PURCHASE PRICE X EQUIPMENT 1 100 COST/PURCHASE PRICE 1 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE AMOUNT OF CONTRIBUTORS IN SCHEDULE M, PART 1, COLUMN B. FORM 990, PART VI, SECTION B, LINE 11B MONTCLAIR STATE UNIVERSITY FOUNDATION, INC. HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, THE EXEC. DIR/AVP - FINANCE AND THE AUDIT COMMITTEE REVIEW FORM 990 FOR ACCURACY AND COMPLETENESS. THE FORM 990 IS THEN DISTRIBUTED BY HARD COPY TO THE BOARD MEMBERS FOR FINAL REVIEW AND APPROVAL. ONCE AGREED, THE FORMS ARE SIGNED BY APPROPRIATE OFFICERS AND SENT TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C MONTCLAIR STATE UNIVERSITY FOUNDATION, INC. CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY THAT APPLIES TO THE BOARD OF TRUSTEES, AS WELL AS THE EXECUTIVE DIRECTOR. THE BOARD OF TRUSTEES, WITH THE ASSISTANCE OF THE FOUNDATION COUNSEL, REVIEWS ANNUALLY THE REQUIREMENT AND PROCEDURES PROVIDED IN THE CONFLICT OF INTEREST AND RECUSAL PROCEDURES. EACH TRUSTEE MUST ANNUALLY SIGN A FORM INDICATING THE DATE THE CODE OF ETHICS WAS RECEIVED AND ACKNOWLEDGING THAT HE/SHE IS RESPONSIBLE FOR READING THE CODE AND IS BOUND BY IT. IN ACCORDANCE WITH THE POLICY, A TRUSTEE MUST DISCLOSE ANY POTENTIAL CONFLICT AND RECUSE HIM/HERSELF FROM A MATTER THAT HE/SHE HAS A CONFLICT WITH. IF A POTENTIAL OR ACTUAL CONFLICT EXISTS, THE TRUSTEE MUST CONSULT WITH THE CHAIR, WHO MAY REQUEST A WRITTEN OPINION FROM THE FOUNDATION COUNSEL ON WHETHER A CONFLICT OF INTEREST EXISTS UNDER THIS POLICY. IF THE EXISTENCE OF THE CONFLICT INVOLVES THE CHAIR, THE CHAIR MUST CONSULT WITH THE VICE CHAIR. A TRUSTEE WITH A POSSIBLE CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN THE DELIBERATION OR VOTE OF INTEREST. A TRUSTEE WHO DECLARES OR HAS BEEN FOUND TO HAVE A CONFLICT OF INTEREST SHALL BE ABSENT FROM ANY DELIBERATIONS OR VOTE ON THE MATTER DETERMINED TO BE A CONFLICT, AND THE TRUSTEE SHALL NOT TAKE ANY ACTION TO INFLUENCE THE OUTCOME OF THE MATTER. THE RESULTS OF THE INVESTIGATION WILL BE SUMMARIZED AND DOCUMENTED IN THE BOARD MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON MONTCLAIR STATE UNIVERSITY'S WEBSITE AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, FORM 990, FORM 1023, AND GOVERNING DOCUMENTS ARE ALSO AVAILABLE UPON WRITTEN REQUEST AT ONE NORMAL AVENUE, COLLEGE HALL ROOM 300, MONTCLAIR, NJ 07043 OR BY CALLING THE ORGANIZATION DIRECTLY AT (973)655-4344. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST, CASH SURRENDER, & BENEFICIAL INTEREST 64,478. WRITE-OFF OF PRIOR YEAR PLEDGES DEEMED UNCOLLECTIBLE -172,722. FORM 990, PART VI, SECTION B, LINE 12C THE AUDIT COMMITTEE IS RESPONSIBLE FOR SELECTING AN INDEPENDENT ACCOUNTANT AND ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. FORM 990, SCHEDULE D, PART III, LINE 3E THE FOUNDATION GENERALLY ACCEPTS GIFTS OF ART AND SIMILAR NON-CASH GIFTS THAT ENHANCE THE MISSION OF MONTCLAIR STATE UNIVERSITY BY PROVIDING ACCESS TO GIFTS THAT FURTHER THE EDUCATIONAL EXPERIENCE OF ITS STUDENTS INCLUDING SCHOLARLY EXPERIENCES AND RESEARCH. THE FOUNDATION HAS ACCEPTED GIFTS OF ART THAT HAVE BEEN DESIGNATED FOR EDUCATIONAL PURPOSES BY THE COLLEGE OF THE ARTS AT MONTCLAIR STATE UNIVERSITY, PROVIDING STUDENTS WITH THE ABILITY TO STUDY THE GENRES, STYLES, AND HISTORY OF ART THAT ENHANCES CURRICULUM AND PROVIDES HANDS ON EXPERIENCE IN THE RESEARCH, RESTORATION, AND MANAGEMENT OF WORKS OF SIGNIFICANCE. RED HAWK FUND LLC 1 NORMAL AVENUE MONTCLAIR NJ 07043 824863554 STUDENT INVESTMENT FUND NJ 4393 214468 MONTCLAIR STATE UNIVERSITY FOUNDATION