2019-05-02T08:18:39-05:00 2018-06-30 222951202 MSPC CPAS & ADVISORS PC 340 NORTH AVENUE EAST CRANFORD NJ 070162496 990 2017-07-01 222849480 KEAN UNIVERSITY FOUNDATION INC KEAN 9083168920 250 SURREY ROAD UNIT 17 HILLSIDE NJ 07205 AUDREY M KELLY ACTING PRESIDENT 9083168920 2019-05-02 1 ROBERT J JANNELLI P00450209 9082727000 107.0.40.162 2019-05-02 08:18:25 ED P FF63A8BEF45084E4111860BF3B06E27E98C16888 BB12664BE1E3D4BC08488640412F20C0F7A39D48 2017 2019-02-21 02:37:17Z X AUDREY M KELLY 250 SURREY ROAD UNIT 17 HILLSIDE NJ 07205 17656472 0 X WWW.KEANFOUNDATION.ORG X 1984 NJ THE FOUNDATION RAISES FUNDS TO SUPPORT KEAN UNIVERSITY 21 16 0 0 -217318 -627246 4104728 3717105 481721 524131 1762639 2544368 2543403 -299273 8892491 6486331 1318681 1329596 0 0 0 0 0 0 294394 2776421 5006521 4095102 6336117 4797389 150214 59248393 41890481 19125332 1851242 40123061 40039239 THE ORGANIZATION RAISES FUNDS TO SUPPORT KEAN UNIVERSITY 0 0 1329596 1329596 SCHOLARSHIPS TO KEAN UNIVERSITY STUDENTS 699307 PROGRAMS AND GRANTS TO KEAN UNIVERSITY 2028903 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 50 0 1 0 1 1 0 0 0 0 1 1 0 0 X 21 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NJ X CLARINDA JOSEPH-CUMBERBATCH 9083168920 250 SURREY ROAD UNIT 17 HILLSIDE NJ 07205 X AUDREY M KELLY ACTING PRESIDENT 40.00 0.00 X X 0 0 0 STEVE FASTOOK CHAIRMAN 0.00 0.00 X X 0 0 0 MARIA E BORDAS VICE CHAIR 0.00 0.00 X X 0 0 0 ANTHONY GIORDANO III TREASURER 0.00 0.00 X X 0 0 0 LINDA TUMA SECRETARY 0.00 0.00 X X 0 0 0 DR DAWOOD Y FARAHI DIRECTOR 0.00 0.00 X 0 0 0 DIANE MIRON DIRECTOR 0.00 0.00 X 0 0 0 PATRICIA M BARKSDALE DIRECTOR 0.00 0.00 X 0 0 0 JAMES MULLANEY DIRECTOR 0.00 0.00 X 0 0 0 EDWARD A ESPOSITO DIRECTOR 0.00 0.00 X 0 0 0 JAMES K ESTABROOK ESQ DIRECTOR 0.00 0.00 X 0 0 0 JAMES G HYNES DIRECTOR 0.00 0.00 X 0 0 0 ADA MORRELL DIRECTOR 0.00 0.00 X 0 0 0 MARJORIE A PERRY DIRECTOR 0.00 0.00 X 0 0 0 BARBARA SOBEL DIRECTOR 0.00 0.00 X 0 0 0 SCOTT N SCHOBER DIRECTOR 0.00 0.00 X 0 0 0 DONALD BRADY DIRECTOR 0.00 0.00 X 0 0 0 KATHLEEN WILKINSON DIRECTOR 0.00 0.00 X 0 0 0 JOHN TURNER DIRECTOR 0.00 0.00 X 0 0 0 WILLIAM LOEHNING DIRECTOR 0.00 0.00 X 0 0 0 GERALD TARANTOLO DIRECTOR 0.00 0.00 X 0 0 0 0 0 0 0 0 0 0 0 103103 3614002 12262 3717105 OTHER INCOME 611310 524131 524131 524131 994386 994386 12581256 10974533 56741 1606723 -56741 1549982 1549982 138867 283603 138867 0 CHANGE IN SPLIT INT AGMTS 611310 -81955 -81955 RESTAURANT - NET 722511 -217318 -217318 -299273 6486331 442176 -217318 2544368 1329596 1329596 10191 10191 57281 57281 94577 94577 12799 8257 4542 10187 10187 19652 10211 9441 75319 57819 17500 10196 4726 5470 1990 1990 450083 450083 48882 48882 7803 7803 21866 21866 LOSS ON BOND DEFEASANCE 2626587 2626587 KEAN UNIVERSITY PROGRAM 650425 650425 REIMBURSED EXPENSES 402688 402688 GALA EXPENSES 104325 104325 401670 250544 151126 6336117 2028903 4012820 294394 5902616 2062179 1406944 1283704 355892 56227 450727 95679 3059239 1492985 1768617 1566254 22721434 27643407 7833441 7942779 18808722 1240252 59248393 41890481 467310 155712 16730597 0 1927425 1695530 19125332 1851242 X 7215787 5213620 16534520 17475530 16372754 17350089 40123061 40039239 59248393 41890481 150214 -234036 0 X X 0 1 X 1 0 X 3214805 3640754 4601146 4104728 3717105 19278538 3214805 3640754 4601146 4104728 3717105 19278538 3754826 15523712 1220736 1459910 1465187 1370377 994386 6510596 25789134 0.60190 0.61890 X 16372754 1012335 35000 17350089 14018737 2354017 16372754 13691682 327055 14018737 15539498 152184 15691682 13399231 140267 13539498 0 0 1886232 421653 1464579 1173007 1071332 101675 1566254 HEDGE FUNDS 4782562 F PRIVATE INVESTMENTS 1251159 F REAL ESTATE INVESTMENT FUNDS 1909058 F 7942779 CHARITABLE GIFT ANNUITIES PAYABLE 702837 PERTH-AMBOY SCHOLARSHIP FUND - AGENCY ACCOUNT 992693 1695530 X 4908562 -234036 -2626587 -2860623 7769185 -1282854 -1282854 6486331 4992384 1282854 1282854 3709530 2626587 2626587 6336117 PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE LAW. THE ACCOUNTING STANDARDS ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESS THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE FOUNDATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE FOUNDATION AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME. THE TAX BENEFITS THAT MIGHT BE RECOGNIZED IN THE FINANCIAL STATEMENTS FROM A TAX POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES FOR FISCAL YEAR 2018 AND 2017. THE FOUNDATION FILES ITS FORMS 990 IN THE U.S. FEDERAL JURISDICTION AND IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR FISCAL YEARS BEFORE 2015, GENERALLY FOR 3 YEARS AFTER THEY ARE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON BOND DEFEASANCE PART XI, LINE 4B - OTHER ADJUSTMENTS: RESTAURANT EXPENSES RESTAURANT DEPRECIATION PART XII, LINE 2D - OTHER ADJUSTMENTS: RESTAURANT EXPENSES RESTAURANT DEPRECIATION PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON BOND DEFEASANCE ANNUAL GALA 350170 245845 104325 4000 100325 GOLF OUTING 72300 37758 34542 1000 33542 422470 283603 138867 5000 133867 138867 0 0 SCHOLARSHIPS TO KEAN UNIVERSITY STUDENTS 352 1329596 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF A DRAFT FORM 990 IS REVIEWED BY THE FOUNDATIONS OFFICERS AND DIRECTORS PRIOR TO BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT A SIGNED STATEMENT ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION PROVIDES THIS DOCUMENTATION TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. KEAN UNIVERSITY 1000 MORRIS AVENUE UNION NJ 07083 222960726 UNIVERISTY THAT PROVIDES POST SECONDARY EDUCATION TO STUDENTS NJ 501(C)(3) N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 KEAN UNIVERSITY B 650425 CASH DISBURSEMENTS