2025-11-17T14:03:34-06:00 2024-12-31 WILKIN & GUTTENPLAN PC 1200 TICES LANE EAST BRUNSWICK NJ 08816 990 2024-09-01 223236708 THE MONROE FOUNDATION INC % STEPHEN JEROME MONR 6463938352 145 HUGUENOT STREET SUITE 102 NEW ROCHELLE NY 10801 STEPHEN JEROME OFFICER 6463938352 2025-11-17 true true W McDEVITT CPA P00149971 7328463000 2024 2025-03-06 01:10:19Z STEPHEN JEROME 145 HUGUENOT STREET SUITE 102 NEW ROCHELLE NY 10801 175719 false X N/A X 1993 NY THE MONROE FOUNDATION ASSISTS DESERVING INDIVIDUALS IN THEIR PRESUIT OF HIGHER EDUCATION, EMPHASIZING SUPPORT OF THE UNDERSERVED & VETERAN STUDENTS. 8 5 0 0 0 232346 45109 0 0 57943 38523 16916 3710 307205 87342 106547 82000 0 0 0 0 0 0 11940 290034 87800 396581 169800 -89376 -82458 2810302 2785749 620623 624169 2189679 2161580 THE MONROE FOUNDATION ASSISTS DESERVING INDIVIDUALS IN THEIR PERSUIT OF HIGHER EDUCATION, EMPHASIZING SUPPORT OF UNDERSERVED AND VETERAN STUDENTS AND OTHERS WHO ARE QUALIFIFED TO ATTEND COLLEGE BUT WHO REQUIRE ADDITIONAL FINANCIAL ASSISTANCE TO PERSUE OR RESUME THEIR EDUCATION. THE FOUNDATION SEEKS TO HELP LIFT FINANCIAL BARRIERS WHICH, IF NOT ADDRESSED, MAY RESULT IN QUALIFIED STUDENTS BEING UNABLE TO CONTINUE THE PATH TO THE ATTAINMENT OF HIGHER EDUCATION CREDENTIALS. false false 82000 82000 THE DISTRIBUTION OF GRANT FUNDS TO INSTITUTIONS OF HIGHER EDUCATION FOR THE PROVISION OF SCHOLARSHIPS. THE EDUCATIONAL INSTITUTIONS SELECT QUALIFIED INDIVIDUALS FOR RECEIPT OF THE SCHOLARSHIPS, WHICH DEFRAY THE COSTS OF EDUCATION. 82000 true true false false false false false false false false true false false false true false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false true 1 0 0 false false false false false false false false false false false false false false X 8 5 false false false false false false false true true false false true true true true true true true true false CT FL NJ NY PA X STEPHEN JEROME 7189336700 29 E FORDHAM ROAD BRONX NY 10468 X STEPHEN JEROME PRESIDENT 2.0 0.0 X X 0 0 0 OLESIA TIAGI TREASURER 2.0 0.0 X X 0 0 0 OLHA PALUCH DIRECTOR 2.0 0.0 X 0 0 0 ANTHONY COSCHIGANO DIRECTOR 2.0 0.0 X 0 0 0 GREG GONZALEZ DIRECTOR 2.0 0.0 X 0 0 0 MANNY TARTAGLIONE DIRECTOR 2.0 0.0 X 0 0 0 LAUREN ROSENTHAL DIRECTOR 2.0 0.0 X 0 0 0 SCOTT SIMON DIRECTOR 2.0 0.0 X 0 0 0 0 0 0 0 false false false 0 300 44809 45109 0 12864 12864 0 0 0 0 0 114036 88377 25659 25659 25659 0 0 0 0 0 0 0 0 0 MISCELLANEOUS REVENUE 999999 3710 3710 3710 87342 3710 38523 0 82000 82000 0 0 0 0 0 0 0 0 0 0 10900 10900 0 0 0 0 0 3789 2229 1560 0 0 11170 11170 221 221 0 0 0 0 4732 4732 4906 4906 GENERAL EXPENSES 0 UTILITIES 641 641 BANK CHARGES 196 196 OTHER PROFESSIONAL FEES 38740 36479 2261 12505 4386 8119 169800 82000 75860 11940 144382 139152 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4314 9258 89582 48749 45565 40833 2383727 2358818 0 0 0 0 223170 228544 9144 9144 2810302 2785749 18879 10175 0 0 0 0 0 0 0 0 0 0 0 0 0 0 601744 613994 620623 624169 X 2189679 2161580 0 0 2189679 2161580 2810302 2785749 -82458 54359 X true X false false X 222707 281874 315217 232346 45109 1097253 0 0 222707 281874 315217 232346 45109 1097253 0 1097253 19953 21726 31743 30801 12864 117087 0 0 1214340 0.90358 0.89161 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24500 13884 10616 65082 34865 30217 40833 0 DUE TO RELATED PARTY 337425 OPERATING LEASE LIABILITY S/T 109786 OPERATING LEASE LIABILITY L/T 166783 613994 true TUITION ASSISTANCE 37 82000 CASH TUTION ASSISTANCE Part I, Line 2 - Procedures for Monitoring the Use of Grant Funds THE FOUNDATION PAYS A PORTION OF THE TUITION COSTS FOR RECIPIENTS ATTENDING INSTITUTIONS OF HIGHER EDUCATION. FOR STUDENTS ATTENDING MONROE COLLEGE, A CHECK IS MADE PAYABLE TO THE STUDENT AND IS DELIVERED TO THE BURSAR'S OFFICE, WHERE THE STUDENT ENDORSES IT AND GIVES IT BACK TO THE BURSAR. FOR STUDENTS WHO DO NOT ATTEND MONROE COLLEGE, THE TUITION ASSISTANCE IS EITHER PAYABLE TO, AND REMITTED DIRECTLY TO, THE INST. OF HIGHER EDUCATION, THUS ENSURING THAT FUNDS ARE USED FOR THEIR INTENDED PURPOSE, OR IT IS REMITTED TO THE STUDENT WITH A LETTER RESTRICTING ITS USE FOR HIGHER EDUCATIONAL PURPOSES. FORM 990, PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW FORM 990 FORM 990 IS PRPARED BY INDEPENDENT ACCOUNTANTS, AND IS REVIEWED BY THE ORGANIZATION'S PRESIDENT, TREASURER, AND OUTSIDE LEGAL COUNSEL. FORM 990, PART VI, LINE 12C - ENFORCEMENT OF CONFLICTS POLICY ANNUALLY, EACH BOARD MEMBER IS REQUIRED TO DISCLOSE WHETHER THEY HAD ANY TRANSACTIONS OR INTERESTS DURING THE YEAR WHICH WOULD CAUSE THEM NOT TO BE INDEPENDENT, OR WHICH WOULD GIVE RISE TO CONFLICTS, WITH RESPECT TO THE FOUNDATION. TO DATE, NO SUCH INSTANCES HAVE OCCURED. FORM 990, PART VI, LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL NO COMPENSATION IS PAID BY THE MONROE FOUNDATION. FORM 990, PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATION UPON REQUEST. FORM 990, PART 1, LINE 1 - ORGANIZATION'S MISSION THE MONROE FOUNDATION ASSISTS DESERVING INDIVIDUALS IN THEIR PERSUIT OF HIGHER EDUCATION, EMPHASIZING SUPPORT OF UNDERSERVED AND VETERAN STUDENTS AND OTHERS WHO ARE QUALIFIFED TO ATTEND COLLEGE BUT WHO REQUIRE ADDITIONAL FINANCIAL ASSISTANCE TO PERSUE OR RESUME THEIR EDUCATION. THE FOUNDATION SEEKS TO HELP LIFT FINANCIAL BARRIERS WHICH, IF NOT ADDRESSED, MAY RESULT IN QUALIFIED STUDENTS BEING UNABLE TO CONTINUE THE PATH TO THE ATTAINMENT OF HIGHER EDUCATION CREDENTIALS. Change of Accounting Period under Rev. Proc. 85-58 Pursuant to Revenue Procedure 85-58, The Monroe Foundation Inc, a public charity described in section 501(c)(3) and not a private foundation, is changing its annual accounting period. The organization's prior accounting period ended August 31. Effective with the 2024 tax year, the organization is changing its year end to December 31. Accordingly, the organization is filing a short period return for the period September 1, 2024 through December 31, 2024. This change is being made under the automatic approval procedures of Rev. Proc. 85-58. The organization has not changed its accounting period within the 10-calendar-year period ending with the beginning of this short period, except as permitted by Rev. Proc. 85-58.