2025-05-15T18:03:24-05:00 2024-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 20 COMMERCE DRIVE SUITE 301 CRANFORD NJ 070163618 990 2023-07-01 226079662 MIDDLESEX COLLEGE FOUNDATION INC MIDD 7329062564 2600 WOODBRIDGE AVE EDISON NJ 08818 LISA KELLY EXECUTIVE DIRECTOR 7329062564 2025-05-15 1 1 GARRETT M HIGGINS P00543209 9082726200 2025-05-15 2023 2025-03-06 01:10:19Z DEANGELINA INMAN 2600 WOODBRIDGE AVE EDISON NJ 08818 11156814 0 X MIDDLESEXCOLLEGE.EDU/FOUNDATION/ X 1966 NJ HELPING STUDENTS OPEN DOORS TO THEIR FUTURE WITH FINANCIAL AID, SCHOLARSHIPS, AND EDUCATIONAL RESOURCES. 16 16 0 55 0 0 929595 1065320 0 0 -51494 615860 50678 865 928779 1682045 1371903 1082360 0 0 0 0 0 0 0 195734 219377 1567637 1301737 -638858 380308 21571848 23378377 1212576 903381 20359272 22474996 X HELPING STUDENTS OPEN DOORS TO THEIR FUTURE WITH FINANCIAL AID, SCHOLARSHIPS, AND EDUCATIONAL RESOURCES. 0 0 575136 575136 0 SCHOLARSHIPS - SINCE 1967, THE MIDDLESEX COLLEGE FOUNDATION HAS DISTRIBUTED OVER $19 MILLION IN SCHOLARSHIPS, FINANCIAL AID, AND GRANTS TO MORE THAN 19,000 DESERVING STUDENTS. THE MIDDLESEX COLLEGE FOUNDATION CURRENTLY OFFERS 152 ENDOWED AND ANNUAL SCHOLARSHIPS FOR QUALIFIED STUDENTS. THE NUMBER OF DESERVING MIDDLESEX COLLEGE STUDENTS IN NEED OF FINANCIAL ASSISTANCE ALWAYS EXCEEDS AVAILABLE FUNDING. THE MIDDLESEX COLLEGE FOUNDATION IS COMMITTED TO INCREASING OUR FINANCIAL RESOURCES SO THAT WE MAY ASSIST MORE STUDENTS EACH YEAR. SPENDING OF FUNDS ARE BASED ON DONOR RESTRICTION AND MAY BE TEMPORARILY OR PERMANENTLY RESTRICTED. 439416 439416 0 PROGRAMS AND GRANTS - IN ADDITION TO PROVIDING SCHOLARSHIPS FOR MIDDLESEX COLLEGE STUDENTS, MIDDLESEX COLLEGE FOUNDATION SEEKS FUNDING FOR A WIDE VARIETY OF ONGOING PROGRAMS, STUDENT BASIC AND EMERGENT NEEDS, DIGITAL EQUITY, AND ACADEMIC INITIATIVES. THE MIDDLESEX COLLEGE FOUNDATION STRIVES TO ENCOURAGE AND SUSTAIN LONG-TERM RELATIONSHIPS WITH ALUMNI, FRIENDS, AND BUSINESSES, AND TO SEEK THEIR ACTIVE SUPPORT OF THE COLLEGE'S MISSION. THESE RELATIONSHIPS BUILD COMMITMENT AND INCLUSION IN SUPPORT OF THE COLLEGE'S GOAL OF SERVING THE ENTIRE COMMUNITY. 67808 67808 0 DIRECT STUDENT SUPPORT - STUDENT SUCCESS OFTEN DEPENDS ON FACTORS BEYOND ACADEMIC SCHOLARSHIP. MIDDLESEX COLLEGE FOUNDATION SEEKS TO SUPPORT THE WHOLE STUDENT JOURNEY AND HAS MADE A COMMITMENT TO DIRECT STUDENT SUPPORT THROUGH THE FUNDING OF PROGRAMS SUCH AS THE STUDENT EMERGENCY FUND, MIDDLESEX COLLEGE FOOD PANTRY, AND BRIDGING THE DIGITAL DIVIDE CHROMEBOOK OWNERSHIP PROGRAM. 8206 0 0 MEETINGS, RECOGNITION, ANNUITY DISTRIBUTIONS 8206 0 0 1090566 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 5 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NJ X LISA KELLY EXECUTIVE DIRECTOR 7329062564 2600 WOODBRIDGE AVE EDISON NJ 08818 DIANE CONBOY KIRSHENBAUM CHAIRPERSON 1.00 X X 0 0 0 DEANGELINA INMAN 1ST VICE CHAIRPERSON 1.00 X X 0 0 0 ANTHONY OSBOURNE 2ND VICE CHAIRPERSON 1.00 X X 0 0 0 JAMES CAMPBELL TREASURER 1.00 X X 0 0 0 JOANNE FILLWEBER SECRETARY 1.00 X X 0 0 0 BARBARA BERNARD TRUSTEE 1.00 X 0 0 0 MAUREEN BINETTI TRUSTEE 1.00 X 0 0 0 ABHI DIWAKER TRUSTEE 1.00 X 0 0 0 GENETTE FALK TRUSTEE 1.00 X 0 0 0 RICK GELMETTI TRUSTEE 1.00 X 0 0 0 LINDA DONATO KENNEDY TRUSTEE 1.00 X 0 0 0 KEITH MENSCHER ESQ TRUSTEE 1.00 X 0 0 0 PRITI PANDYA-PATEL PSYD TRUSTEE 1.00 X 0 0 0 MICHAEL ROFMAN CPA TRUSTEE 1.00 X 0 0 0 BUVANA RADHAKRISHNAN TRUSTEE 1.00 X 0 0 0 MICHAEL FISHER TRUSTEE 1.00 X 0 0 0 LISA KELLY EXECUTIVE DIRECTOR 40.00 X 100592 0 18735 100592 0 18735 0 0 0 1 MORGAN STANLEY 1 NEW YORK PLAZA NEW YORK NY 10004 INVESTMENT MANAGEMENT SERVICES 124125 1 16500 1048820 70480 1065320 602345 602345 9462115 9448600 13515 13515 13515 26464 26169 295 295 MISCELLANEOUS INCOME 900099 570 570 570 1682045 0 0 616725 440916 440916 641444 641444 15000 15000 131271 131271 15779 15779 5244 5244 9520 9520 539 539 1762 1762 ALLOCATED PAYROLL 32056 32056 COMMUNITY EVENTS 6366 6366 ANNUITY DISTRIBUTIONS 1840 1840 1301737 1090566 211171 0 428855 396266 787380 1148895 265989 175464 20084140 21647171 5484 10581 21571848 23378377 36014 25025 1176562 878356 1212576 903381 X 2809789 3256702 17549483 19218294 20359272 22474996 21571848 23378377 380308 1735416 0 X X 0 1 X 1 0 X 630748 1193100 811655 975054 1065320 4675877 193485 253868 252834 264045 280955 1245187 824233 1446968 1064489 1239099 1346275 5921064 852989 5068075 629906 422606 505623 575170 602345 2735650 26179 0 0 5219 295 31693 570 570 8688977 0.58330 0.56210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11216900 412688 1220794 225726 20380 12604276 10743959 150867 667854 322159 23621 11216900 12436368 179844 -1658147 209246 4860 10743959 10449635 133393 2290757 428438 8979 12436368 10466613 101651 315080 427166 6543 10449635 0.00000 0.87785 0.12215 0 0 0 X 3584468 1735416 281755 16523 2033694 1550774 131271 131271 1682045 1468744 281755 16523 298278 1170466 131271 131271 1301737 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 99 INDIVIDUAL FUNDS ESTABLISHED BY DONORS FOR A VARIETY OF PURPOSES, INCLUDING SCHOLARSHIP AWARDS, ACADEMIC PROGRAM SUPPORT, PHYSICAL PLANT PROJECTS, AND FACULTY DEVELOPMENT. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE ("CODE") SECTION 501(C)(3) AND, THEREFORE, HAS MADE NO PROVISION FOR FEDERAL INCOME TAXES. IT IS ALSO EXEMPT FROM STATE AND LOCAL INCOME TAXES. IN ADDITION, THE FOUNDATION HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A "PRIVATE FOUNDATION" WITHIN THE MEANING OF SECTION 509(A)(1) OF THE CODE. OTHER SIGNIFICANT TAX POSITIONS INCLUDE ITS DETERMINATION OF WHETHER ANY AMOUNTS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX ("UBIT"). MANAGEMENT REGULARLY REVIEWS AND EVALUATES ITS TAX POSITIONS TAKEN IN PREVIOUSLY FILED INFORMATION RETURNS AND AS REFLECTED IN ITS FINANCIAL STATEMENTS, WITH REGARD TO ISSUES AFFECTING ITS TAX-EXEMPT STATUS, UNRELATED BUSINESS INCOME AND RELATED MATTERS. ALL SIGNIFICANT TAX POSITIONS HAVE BEEN CONSIDERED BY MANAGEMENT AND IT HAS BEEN DETERMINED THAT ALL TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THEREFORE, MANAGEMENT HAS CONCLUDED THAT NO TAX BENEFITS OR LIABILITIES ARE REQUIRED TO BE RECOGNIZED. THE FOUNDATION IS NO LONGER SUBJECT TO FEDERAL TAX EXAMINATIONS FOR ITS FEDERAL FORM 990 AND FOR THE STATE OF NEW JERSEY FORM CRI-300R FOR YEARS PRIOR TO JUNE 30, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS NETTED AGAINST REVENUE 16,523. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS NETTED AGAINST REVENUE 16,523. 26464 1105 9646 2304 13114 0 26464 1105 9646 2304 13114 26169 295 NJ 1 0 1 0 1.00000 LISA KELLY 2600 WOORDBRIDGE AVENUE EDISON NJ 08818 0 WILD WILLY'S CASINO EVENTS 5610 PROVIDED GAMING EQUIPMENT AND DEALERS TO MANAGE THE TABLES X 1 295 1 MIDDLESEX COLLEGE 2600 WOODBRIDGE AVENUE EDISON NJ 08818 221769370 STATE OF NEW JERSEY 439416 1500 DONOR APPROXIMATION WURLITZER STUDIO UPRIGHT PIANO GRANTS TO SUPPORT COLLEGE'S PROGRAMS 1 MIDDLESEX COLLEGE SCHOLARSHIPS AND OTHER SUPPORT 417 575136 DEPARTMENT AWARDS 14 3600 STUDENT SUPPORT 680 39194 23514 DONATED VALUE FOOD PART I, LINE 2: THE FOUNDATION AUDITS MIDDLESEX COLLEGE'S QUARTERLY INVOICES TO ENSURE THAT THE FOUNDATION DOES NOT REIMBURSE THE COLLEGE FOR MORE THAN IS AVAILABLE WITHIN EACH FUND OR ALLOCATION. SCHOLARSHIP FUNDS AND FINANCIAL AID GRANTS ARE RECOMMENDED TO THE FINANCIAL AID OFFICE WHERE THEY ARE INCORPORATED INTO FINANCIAL AID PACKAGES BASED ON OTHER SOURCES OF FUNDING. THE FINANCIAL AID OFFICE TRANSMITS AWARD TOTALS TO THE BURSAR OF MIDDLESEX COLLEGE FOR POSTING TO THE QUALIFYING RECIPIENT STUDENT ACCOUNTS. THE FINANCIAL AID OFFICE AND BURSAR'S OFFICE MONITORS THE STUDENTS' PROGRAMS TO ENSURE CONTINUED QUALIFICATION, INCLUDING REGULAR CLASS ATTENDANCE, MAINTENANCE OF GRADES, AND OTHER RELEVANT CRITERIA. 0 0 0 0 0 0 0 0 0 LISA KELLY EXECUTIVE DIRECTOR 98103 0 0 0 2489 0 8041 0 10694 0 119327 0 0 0 PART VII, LINE 5: LISA KELLY, EXECUTIVE DIRECTOR, IS EMPLOYED AND COMPENSATED BY MIDDLESEX COLLEGE, AN UNRELATED PARTY. SHE DEVOTES 75% OF HER TIME TO MIDDLESEX COLLEGE FOUNDATION, INC. AND, IN COMPLIANCE WITH PART VII INSTRUCTIONS OF THE 990, HAS 75% OF HER COMPENSATION ALLOCATED TO THE FOUNDATION($119,327). X 3254 DONATED VALUE X 3 35820 AVG. SELLING PRICE X 2 1575 DONATED VALUE X 11 23657 DONATED VALUE X GIFT CERTIFICATES 11 3859 COST X TICKETS 7 1816 COST X MEMBERSHIPS 2 499 COST 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN SCHEDULE M, PART I, COLUMN B. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION 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 AND REVIEWED BY MANAGEMENT, A COPY OF THE FORM 990 IS DISTRIBUTED TO THE FINANCE COMMITTEE FOR THEIR REVIEW. THE FULL BOARD THEN HAS AN OPPORTUNITY TO REVIEW THE FORM 990 PRIOR TO BEING ELECTRONICALLY FILED. FORM 990, PART VI, SECTION B, LINE 12C MIDDLESEX COLLEGE FOUNDATION, INC. CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IT ANNUALLY MONITORS AND ENFORCES. THE BOARD CURRENTLY MANDATES THAT ALL DIRECTORS, OFFICERS, EMPLOYEES, AND VOLUNTEERS ANNUALLY SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. THE SIGNED CONFLICT OF INTEREST POLICY IS SUBMITTED TO THE BOARD OF DIRECTORS WHO REVIEW THE SIGNED ATTESTATIONS FOR POTENTIAL OR ACTUAL CONFICTS. IF A POTENTIAL OR ACTUAL CONFLICT EXISTS, THE BOARD OR COMMITTEE WILL INFORM THE MEMBER OF THE BASIS OF SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO RESPOND. THE BOARD OR COMMITEE WILL DISCLOSE THE CONFLICT OF INTEREST AND HOW THE CONFLICT WAS HANDLED. THE PERSON WITH THE ACTUAL CONFLICT OF INTEREST WILL BE PROHIBITED FROM VOTING ON THE MATTER THAT GIVES RISE TO THE CONFLICT. IF THERE HAS BEEN SUBSTANTIAL AND REPEATED FAILURES TO DISCLSOE ACTUAL CONFLICTS OF INTEREST, THE BOARD MAY TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION, INCLUDING REMOVAL OF THE MEMBER. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990, FORM 1023, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. PART XII, LINE 2C THE ORGANIZATION'S AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.