2025-03-14T13:47:51-05:00 2024-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2023-07-01 226017209 MONTCLAIR STATE UNIVERSITY FOUNDATION INC MONT 9736554344 ONE NORMAL AVE COLLEGE HALL 300 MONTCLAIR NJ 07043 SHIN K MOON AVP - FINANCE 9736554344 2025-03-14 1 0 GARRETT M HIGGINS P00543209 2017129800 2025-03-04 2023 2025-03-06 01:10:19Z GREGORY COLLINS ONE NORMAL AVE COLLEGE HALL 300 MONTCLAIR NJ 07043 25369526 0 X WWW.MONTCLAIR.EDU/GIVING X 1960 NJ FOR FISCAL 2023 THE FOUNDATION CONTINUED ITS INCREASED SCHOLARSHIP SUPPORT FOR THE STUDENTS OF THE UNIVERSITY WITH NEED BASED ON SOCIO-ECONOMIC BACKGROUND.IN ADDITION, THE FOUNDATION ALSO PROVIDED ADDITIONAL SUPPORT FOR RESEARCH SPECIFIC FUNDING FOR THE UNIVERSITY IN RESPONSE TO INITIATIVES FOR ITS RESEARCH WORK IN THE SCIENCES, FOR THE ENHANCEMENT AND CLARITY OF COMMUNICATIONS WITHIN MAJOR MEDIA SECTORS, ITS CENTER FOR HUMAN TRAFFICKING, ITS SCHOOL OF BUSINESS, ITS SCHOOL OF SCIENCE & MATHEMATICS AND ECO-EXPLORER'S PROGRAM, AND ITS SUSTAINABILITY PROGRAM AND FOR OTHER SUPPORT. 27 27 0 50 0 0 11745595 12320929 0 0 3546119 2501282 55609 -13617 15347323 14808594 8642557 7170085 0 0 0 0 107638 0 205979 1607591 1849032 10357786 9019117 4989537 5789477 119002563 135561646 3718944 3467249 115283619 132094397 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 4656174 4533838 0 MONTCLAIR STATE UNIVERSITY SUSTAINS IT 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. FOUNDATION SUPPORT OFTEN SERVES AS THE SOLE SOURCE OF FUNDING IN ORDER TO SUSTAIN THESE VITAL INITIATIVES. 2636247 2636247 0 THE FOUNDATION MANAGES IN EXCESS OF 250 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 OF THE UNIVERSITY; AMONG OTHER FACTORS. SCHOLARSHIP AWARDS CONTINUE TO INCREASE AND FOR FISCAL 2024 IN EXCESS OF 1,500 AWARDS WERE MADE TO BOTH NEED AND MERIT BASED STUDENTS. 84388 0 THE FOUNDATION MANAGES AN ANNUAL EVENT WHICH IS DESIGNED TO INCREASE DONOR CONNECTIVITY, AWARENESS OF THE NEEDS OF THE UNIVERSITY AND THE FOUNDATION, AND TO FULFILL THE MISSION OF ACADEMIC EXCELLENCE. THE EVENT 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 2024 THE NET PROCEEDS OF THE GOLF OUTING WERE USED IN CONTINUED SUPPORT OF VIRTUAL BROADCASTING CAPABILITIES FOR ALL SPORTING EVENTS IN A SOCIAL MEDIA ENVIRONMENT. 7376809 1 1 0 0 0 0 0 1 0 1 0 1 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 13 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NJ NY CA X X X SHIN K MOON 9736554344 ONE NORMAL AVENUE COLLEGE HALL ROOM MONTCLAIR NJ 07043 GREGORY COLLINS CHAIR 1.00 X X 0 0 0 ANTHONY CARLINO VICE CHAIR 1.00 X X 0 0 0 PENELOPE VANCE SECRETARY 1.00 X X 0 0 0 ROBERT IACULLO TREASURER 1.00 X X 0 0 0 ANGELO J GENOVA TRUSTEE 1.00 X 0 0 0 BETH GOTTUNG TRUSTEE 1.00 X 0 0 0 CYNTHIA WATSON TRUSTEE 1.00 X 0 0 0 DAVE WERTHEIM TRUSTEE 1.00 X 0 0 0 DENISE ROVER TRUSTEE 1.00 X 0 0 0 DENNIS BONE TRUSTEE 1.00 X 0 0 0 GREG SHANAPHY 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 JUDITH A SCHUMACHER-TILTON TRUSTEE 1.00 X 0 0 0 KEITH ANSBACHER TRUSTEE 1.00 X 0 0 0 KEVIN BRADLEY TRUSTEE 1.00 X 0 0 0 LESTER TAYLOR TRUSTEE 1.00 X 0 0 0 MARILYN GRABOWKSI TRUSTEE 1.00 X 0 0 0 NADINE LESLIE 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 ERIK JACOBSEN - EX-OFFICIO TRUSTEE 1.00 X 0 0 0 JONATHAN KOPPELL - EX-OFFICIO TRUSTEE 1.00 X 0 0 0 RITA WALTERS - EX-OFFICIO TRUSTEE 1.00 X 0 0 0 ROSE C CALI - EX-OFFICIO TRUSTEE 1.00 X 0 0 0 JEFFREY CAMPO EXEC DIR AVP - FINANCE - THRU 2/2024 30.00 X 141194 0 25801 SHIN K MOON AVP - FINANCE - EFF. 4/2024 30.00 X 0 0 0 141194 0 25801 1 0 1 1 GOLDMAN SACHS 200 WEST STREET NEW YORK NY 10282 INVESTMENT ADVISORY 465542 1 159905 12161024 26115 12320929 2363698 2363698 10633980 10496396 137584 137584 137584 50919 159905 64536 -13617 -13617 14808594 0 0 2487665 7170085 7170085 13429 660 12769 96250 96250 488798 488798 20981 6051 14930 216751 216751 29341 29341 53008 2009 50999 PURCHASED SERVICES 540620 540620 FUNDRAISING EXPENSES 205979 205979 FOOD/EVENT MEALS 73976 73976 OUTSIDE SERVICES 58186 58186 51713 36501 15212 9019117 7376809 1436329 205979 48777 30409 5254510 5338001 9918432 7876589 67650 17400 80953381 96239973 22758165 26043258 1648 16016 119002563 135561646 3718944 3467249 3718944 3467249 X 13758336 21887879 101525283 110206518 115283619 132094397 119002563 135561646 X 5789477 11294796 -273495 X X 0 1 X 1 0 X 6791207 9694438 9216535 11745595 12240224 49687999 22400 22400 22400 22400 22400 112000 6813607 9716838 9238935 11767995 12262624 49799999 9768746 40031253 2870756 2558577 3253403 2956423 2363698 14002857 33109 67088 100197 63903053 90900 0.62640 0.63710 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X SEE SCHEDULE O 0 89541993 6785443 6545936 2743005 100130367 87064168 1197225 3828862 2548263 89541993 82445211 3576148 3292169 2249360 87064168 81122946 3427335 3002921 5107991 82445211 79238881 2436467 3299887 3852289 81122946 0.02332 0.61432 0.36236 0 0 0 BENEFICIAL INTEREST IN TRUSTS 261693 F BENEFICIAL INTEREST IN SPLIT-INTEREST AGREEMENTS 46538 F CASH SURRENDER VALUE OF LIFE INSURANCE 107643 F ALTERNATIVE INVESTMENTS 20351780 F PRIVATE EQUITY REAL ESTATE 424601 F PRIVATE CREDIT 4851003 F 26043258 X 28483786 11294796 2842405 42930 14180131 14303655 488798 16141 504939 14808594 11673008 2842405 300284 3142689 8530319 488798 488798 9019117 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 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED AGAINST REVENUE 42,930. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST, CASH SURRENDER, & BENEFICIAL INTEREST 16,141. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED AGAINST REVENUE 42,930. WRITE OFF OF UNCOLLECTIBLE PLEDGES 257,354. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 10884721 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 14742663 0 0 0 0 0 0 25627384 0 25627384 0 0 1 0 0 0 RED HAWK OPEN 130119 79200 50919 42644 21892 OTHER 80705 80705 210824 159905 50919 42644 21892 64536 -13617 1 MONTCLAIR STATE UNIVERSITY 1 NORMAL AVENUE MONTCLAIR NJ 07043 222912682 7170085 0 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 - THRU 2/2024 137330 0 0 0 3864 0 7505 0 18296 0 166995 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 ($166,995). X 4140 COST/PURCHASE PRICE X MUSIC INSTRUMENTS 2 10000 COST/PURCHASE PRICE X SPORTING GOODS 8 7925 COST/PURCHASE PRICE X FOOD/BEVERAGES 2 4050 COST/PURCHASE PRICE 0 0 1 1 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE AMOUNT OF CONTRIBUTORS IN SCHEDULE M, PART I, COLUMN B. PART I, LINE 32B: THE FOUNDATION WORKS WITH 2 ART GALLERIES FOR THE SALE OF ART HELD FOR RESALE, OPERATING ON A CONSIGNED BASIS FOR A EQUAL SHARE OF PROCEEDS REALIZED. 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 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 ELECTRONICALLY FILED WITH 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. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST, CASH SURRENDER, & BENEFICIAL INTEREST -16,141. WRITE OFF OF UNCOLLECTIBLE PLEDGES -257,354. FORM 990, PART XII, LINE 2C 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 35082 660643 MONTCLAIR STATE UNIVERSITY FOUNDATION