2020-07-08T10:20:00-05:00 2019-12-31 221430039 SOBEL & CO LLC CPA'S 293 EISENHOWER PARKWAY LIVINGSTON NJ 070391711 990 2019-01-01 222354475 TRI-COUNTY SCHOLARSHIP FUND TRI- 9739849600 14 WEST MAIN STREET MENDHAM NJ 07945 PRUDENCE PIGOTT PRESIDENT 9739849600 2020-07-08 1 BRIDGET HARTNETT P01429163 9739949494 2020-06-24 96.225.92.15 2020-07-08 10:14:40 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 4C84F2E4754EDABD1601D80A9BA97309DA3F6D80 2019 2021-01-29 14:40:06Z X PRUDENCE PIGOTT 14 WEST MAIN STREET MENDHAM NJ 07945 5892900 0 X WWW.TCSFUND.ORG X 1981 NJ TRI-COUNTY SCHOLARSHIP FUND PROVIDES K-12 SCHOLARSHIPS TO DESERVING AND FINANCIALLY DISADVANTAGED CHILDREN IN NORTHERN NEW JERSEY SO THEY CAN OBTAIN A HIGH QUALITY, VALUES-BASED EDUCATION AT ACCREDITED PRIVATE ELEMENTARY AND SECONDARY SCHOOLS THAT WILL ENABLE THEM TO ACHIEVE THEIR FULL POTENTIAL.TCSF HOLDINGS, LLC IS A REAL ESTATE HOLDINGS COMPANY WHOLLY-OWNED BY THE FUND FOR THE PURPOSE OF HOLDING TITLE TO PROPERTY FOR THE BENEFIT OF THE FUND. 54 54 4 80 0 0 2964580 3233693 0 0 114217 121958 -52043 -29028 3026754 3326623 1348266 1576164 0 0 334011 368028 0 0 122763 189328 354429 1871605 2298621 1155149 1028002 4304677 5832945 705510 829843 3599167 5003102 X TRI-COUNTY SCHOLARSHIP FUND PROVIDES K-12 SCHOLARSHIPS TO DESERVING AND FINANCIALLY DISADVANTAGED CHILDREN IN NORTHERN NEW JERSEY SO THEY CAN OBTAIN A HIGH QUALITY, VALUES-BASED EDUCATION AT ACCREDITED PRIVATE ELEMENTARY AND SECONDARY SCHOOLS THAT WILL ENABLE THEM TO ACHIEVE THEIR FULL POTENTIAL. 0 0 1856593 1576164 SINCE 1981, THE MISSION OF TRI-COUNTY SCHOLARSHIP FUND HAS BEEN TO PROVIDE FINANCIAL SUPPORT TO DESERVING AND ECONOMICALLY DISADVANTAGED CHILDREN IN GRADES KINDERGARTEN 12, FOR THEM TO ATTEND ACCREDITED PAROCHIAL AND PRIVATE SCHOOLS. PARTIAL SCHOLARSHIPS ARE AWARDED ANNUALLY TO HUNDREDS OF STUDENTS. A TRI-COUNTY SCHOLARSHIP REPRESENTS A PARTNERSHIP BETWEEN THE SCHOOL THAT ALSO DISCOUNTS ITS TUITION, AND THE FAMILY WHO PAY THE BALANCE OF THE TUITION. KINDERGARTEN - 8TH GRADE TRI-COUNTY SCHOLARSHIPS ARE $2,000. HIGH SCHOOL SCHOLARSHIPS ARE FOR $4,000- $5,000. IN 2019, TRI-COUNTY SCHOLARSHIP FUND AWARDED 551 SCHOLARSHIPS.TRI-COUNTY SCHOLARSHIP RECIPIENT FAMILIES HAVE AN AVERAGE ANNUAL INCOME OF $30,000. THE MAJORITY ARE FROM THE INNER-CITY, AND MANY ARE SINGLE-PARENT HOUSEHOLDS. TRI-COUNTY SCHOLARSHIP STUDENTS ATTEND 55 DIFFERENT VALUES-BASED PRIVATE SCHOOLS IN NORTHERN NEW JERSEY. TYPICALLY, 100% OF TRI-COUNTY STUDENTS GRADUATE FROM HIGH SCHOOL, GO ON TO COLLEGE, AND BECOME INDEPENDENT, CONTRIBUTING MEMBERS OF SOCIETY. 1856593 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 1 0 1 4 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 54 54 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X THE ORGANIZATION 9739849600 14 WEST MAIN STREET MENDHAM NJ 07945 RICK DEBEL CHAIRMAN 1.00 X X 0 0 0 NANCY A LOTTINVILLE ESQ TRUSTEE 0.30 X 0 0 0 A QUENTIN MURRAY III TRUSTEE 0.30 X 0 0 0 PAUL L ONDERDONK TRUSTEE 0.30 X 0 0 0 GEORGE J RACHMIEL TRUSTEE 0.30 X 0 0 0 FATHER MICHAEL TIDD OSB TRUSTEE 0.30 X 0 0 0 ROBERT A SAMETH TRUSTEE 0.30 X 0 0 0 CATHERINE F HIGGINS TRUSTEE 0.30 X 0 0 0 STEVEN J GOULART TRUSTEE 0.30 X 0 0 0 CHARLES VARVARO TRUSTEE 0.30 X 0 0 0 ROBERT J WALDELE TRUSTEE 0.30 X 0 0 0 SUSANNE C WALDELE TRUSTEE 0.30 X 0 0 0 ANNE KRUMP TRUSTEE 0.30 X 0 0 0 MICHAEL C ZOGBY ESQ TRUSTEE 0.30 X 0 0 0 FRANCES HOWARD TRUSTEE 0.30 X 0 0 0 LINA M MARTINEZ ESQ TRUSTEE 0.30 X 0 0 0 PATRICK F MCGOVERN TRUSTEE 0.30 X 0 0 0 JOSEPH F STEFANS TRUSTEE 0.30 X 0 0 0 ELIZABETH R HENNESSY TRUSTEE 0.30 X 0 0 0 ERIC SEGUIN TRUSTEE 0.30 X 0 0 0 JAMES FRANSON TRUSTEE 0.30 X 0 0 0 MARC ADEE TRUSTEE 0.30 X 0 0 0 KATHERINE GARGIULO TRUSTEE 0.30 X 0 0 0 KATHY MURPHY TRUSTEE 0.30 X 0 0 0 YVONNE PREVIDI TRUSTEE 0.30 X 0 0 0 JUAN D GAMARRA TRUSTEE 0.30 X 0 0 0 MARYBETH SAVAS TRUSTEE 0.30 X 0 0 0 KEVIN H MARINO ESQ TRUSTEE 0.30 X 0 0 0 ANN MARIE MANAHAN TRUSTEE 0.30 X 0 0 0 JOSEPH W SPADA VICE-CHAIRMAN 1.00 X X 0 0 0 FRED PIERCE TREASURER 2.00 X X 0 0 0 ROBERT BIENER TRUSTEE 0.30 X 0 0 0 MARK D BODE TRUSTEE 0.30 X 0 0 0 JOHN CARINI TRUSTEE 0.30 X 0 0 0 CATHLEEN CALLAHAN TRUSTEE 0.30 X 0 0 0 ROBERT W CAVALERO TRUSTEE 0.30 X 0 0 0 BRIAN J CLARK TRUSTEE 0.30 X 0 0 0 PATRICIA COLBERT TRUSTEE 0.30 X 0 0 0 WILLIAM J COZINE TRUSTEE 0.30 X 0 0 0 JUSTIN MARCUCCI TRUSTEE 0.30 X 0 0 0 SHACARA N DELGADO ESQ TRUSTEE 0.30 X 0 0 0 KEN DONOVAN TRUSTEE 0.30 X 0 0 0 KRIS DONOVAN TRUSTEE 0.30 X 0 0 0 TIMOTHY I DUFFY ESQ TRUSTEE 0.30 X 0 0 0 TREVOR GANDY TRUSTEE 0.30 X 0 0 0 WILLIAM C GASCOIGNE TRUSTEE 0.30 X 0 0 0 JOSEPH A GONNELLA TRUSTEE 0.30 X 0 0 0 THOMAS J HEALEY TRUSTEE 0.30 X 0 0 0 TREVOR JONES TRUSTEE 0.30 X 0 0 0 SAMRAT S KHICHI ESQ TRUSTEE 0.30 X 0 0 0 THEODORE J KNAUSS TRUSTEE 0.30 X 0 0 0 REV MSGR JAMES T MAHONEY PHD TRUSTEE 0.30 X 0 0 0 RICK DIANA TRUSTEE 0.30 X 0 0 0 ROBERTO YANEZ TRUSTEE 0.30 X 0 0 0 PRUDENCE A PIGOTT PRESIDENT, EX-OFFICIO 40.00 X 145000 0 8530 145000 0 8530 1 0 1 0 0 1674529 1559164 560000 3233693 99846 99846 14850 0 14850 14850 14850 2374036 2351924 22112 22112 22112 154095 1674529 206023 -51928 -51928 16380 8330 8050 8050 3326623 0 0 92930 1576164 1576164 153530 122824 23030 7676 150678 105758 25559 19361 12604 9074 2092 1438 30327 22698 4862 2767 20889 15667 3342 1880 23956 3333 20623 26380 26380 53811 53811 24816 14000 10816 14555 14555 42043 42043 11741 775 10964 2 12725 12725 8374 8374 REPAIRS AND MAINTENANCE 63582 63582 BANK FEES 19473 19473 MEALS & ENTERTAINMENT 16560 16560 PROPERTY TAXES 16453 16453 19960 300 11208 8452 2298621 1856593 319265 122763 8956 377 1684797 1304782 372008 335214 5995 15326 710168 15243 14503 694925 2217168 3482321 1250 0 4304677 5832945 36535 46617 668975 781175 0 2051 705510 829843 X 1711551 2996745 1887616 2006357 3599167 5003102 4304677 5832945 X 1028002 377778 -1845 X X 0 1 X 1 0 X 1515011 1869325 1841767 2964580 3233693 11424376 1515011 1869325 1841767 2964580 3233693 11424376 1915252 9509124 86073 41465 53774 84143 114696 380151 15000 15000 11819527 0.80450 0.83670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2217168 809548 455605 3482321 2162786 193750 -139368 2217168 2026742 122536 263508 250000 2162786 1847838 95563 83341 2026742 1889738 -41900 1847838 0.51000 0.33000 0.16000 0 0 395972 395972 297175 6278 290897 9835 2810 7025 7186 6155 1031 694925 SECURITY DEPOSIT 2051 2051 X 3904874 377778 12500 214353 604631 3300243 26380 26380 3326623 2500949 12500 216208 228708 2272241 26380 26380 2298621 PART X, LINE 2: THE FUND IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE AND, ACCORDINGLY, IS NOT LIABLE FOR FEDERAL AND STATE INCOME TAXES. THE FUND FOLLOWS ACCOUNTING STANDARDS THAT PROVIDE CLARIFICATION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE. NO INTEREST AND PENALTIES WERE RECORDED DURING THE YEARS ENDED DECEMBER 31, 2019 AND 2018. AT DECEMBER 31, 2019 AND 2018, THERE ARE NO SIGNIFICANT INCOME TAX UNCERTAINTIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 214,353. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 1,855. SPECIAL EVENTS EXPENSE 214,353. ANNUAL DINNER 1316206 1263406 52800 59499 15034 GOLF OUTING 141600 105300 36300 37701 11201 4 370818 305823 64995 34261 40652 7675 1828624 1674529 154095 71962 100151 33910 206023 -51928 16380 8190 140 1 1.00000 16380 8190 140 8330 8050 NJ 1 0 0 0 1.00000 MIKE MUND 14 WEST MAIN STREET MENDHAM NJ 07945 0 MIKE MUND 0 THE ORGANIZATION HOLDS A 50/50 RAFFLE AT ITS ANNUAL GOLF OUTING. MIKE MUND OVERSEES THE 50/50 RAFFLE. X 0 1 SCHOLARSHIPS 551 1576164 CASH PART I, LINE 2: THE GRANTS ARE MONITORED BY THE ORGANIZATION AS THEY ARE GIVEN OUT TO THE SCHOOLS TO ENSURE THAT THEY ARE BEING GIVEN OUT APPROPRIATELY. X 0 0 0 0 0 0 0 0 0 PRUDENCE A PIGOTT PRESIDENT, EX-OFFICIO 145000 0 0 0 0 0 7577 0 953 0 153530 0 0 0 X 1 560000 VALUATION REPORT 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THERE ARE RELATED BOARD MEMBERS: LINA M. MARTINEZ AND JUAN D. GAMARRA (HUSBAND/WIFE), ROBERT J. AND SUSANNE C. WALDELE (HUSBAND/WIFE), AND KEN AND KRIS DONOVAN (HUSBAND/WIFE). FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE ORGANIZATIONS GOVERNING BOARD AND IN TURN THEY REVIEW IT. IF THERE ARE ANY CONCERNS THEY WILL SPEAK WITH THE PRESIDENT. THE PRESIDENT WILL REVIEW THE CONCERNS AND IF THERE IS ACTION TO TAKE, SPEAK WITH THE AUDITORS TO MAKE A RESOLUTION. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE GOVERNING BOARD RECEIVES THE CONFLICT OF INTEREST POLICY AND MUST SIGN THE ANNUAL STATEMENT/CERTIFICATION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS BUDGETED PRIOR TO THE BEGINNING OF THE YEAR. THE BOARD WILL REVIEW THE BUDGET AND MAKE THE FINAL DETERMINATION OF THE COMPENSATION. IF THE BOARD IS IN AGREEMENT, THE BUDGET WILL BE APPROVED WITH THE FINAL COMPENSATION AMOUNT. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023 AND 990 AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: BAD DEBT EXPENSE -1,855. OPENING EQUITY OF TCSF HOLDINGS, LLC 10. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS FOR THE AUDIT HAS NOT CHANGED SINCE THE PRIOR YEAR. TCSF HOLDINGS LLC 350 MOUNT KEMBLE AVENUE MORRISTOWN NJ 07962 832948091 REAL ESTATE HOLDING COMPANY NJ 574851 488078 TRI-COUNTY SCHOLARSHIP FUND