2018-12-21T12:57:27-06:00 2018-06-30 271728945 PKF O'CONNOR DAVIES LLP 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2017-07-01 226017209 MONTCLAIR STATE UNIVERSITY FOUNDATION INC MONT 9736554344 ONE NORMAL AVE COLLEGE HALL NO 300 MONTCLAIR NJ 07043 JEFF CAMPO EXEC. DIR/AVP - FINANCE 9736554344 2018-12-20 1 JOSEPH N RUSSELL P00168046 2017129800 2018-12-20 47.19.39.42 2018-12-20 12:45:47 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 5AEF29F42FDC2AF57A851BCD6B7A76FEBEDE7D9E 2017 2019-02-21 02:37:17Z JEFF CAMPO ONE NORMAL AVE COLLEGE HALL NO 300 MONTCLAIR NJ 07043 23004286 0 X WWW.MONTCLAIR.EDU/GIVING X 1960 NJ DURING FISCAL 2018, THE FOUNDATION ENGAGED IN THE CONTINUANCE OF ITS COMPREHENSIVE FUNDRAISING CAMPAIGN. THE CAMPAIGN IS DESIGNED TO RAISE NON-ENDOWED AND ENDOWED FUNDING TO SUPPORT CORE INITIATIVES FOR SCHOLARSHIPS TO STUDENTS BASED ON NEED AND MERIT-BASED PARAMETERS WHILE ALSO PROVIDING SUPPORT TO INCREASE THE ACADEMIC RESOURCES AND ENHANCE FACILITIES WHICH FURTHER THE STUDENT LEARNING EXPERIENCE.FOR FISCAL 2018 THE FOUNDATION INCREASED ITS SCHOLARSHIP SUPPORT FOR THE STUDENTS OF THE UNIVERSITY, INCLUDING INCREASED SUPPORT OF ENDOWED SCHOLARSHIPS BY VIRTUE OF FUND RAISING EFFORTS. THE FOUNDATION ALSO EXPANDED ITS FOCUS THROUGH NEWLY FORMED SCHOLARSHIPS THAT EXTENDED OPPORTUNITIES TO STUDENTS ON THE BASIS OF NEED AND MERIT.IN ADDITION, THE FOUNDATION ALSO PROVIDED ADDITIONAL SUPPORT FOR RESEARCH SPECIFIC FUNDING FOR THE UNIVERSITY SCIENCES AS WELL AS PROVIDING SUPPORT TO CORE LEARNING CENTERS WHICH OFFER SPECIALIZED LEARNING TO STUDENTS IN CERTAIN CONCENTRATIONS OF STUDY. 23 23 0 25 0 0 8190871 7095353 0 75800 3300238 3126756 107475 106731 11598584 10404640 7005258 6697536 0 0 0 0 48000 144000 523305 1124943 1505436 8178201 8346972 3420383 2057668 81793782 86378761 2066786 3013443 79726996 83365318 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 3968346 3968346 75800 MONTCLAIR STATE UNIVERSITY SUSTAINS ITS 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 FOUNDATIONS 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. TOP PROGRAMS SUPPORTED IN FISCAL 2018 INCLUDED THE CENTER FOR ENTREPRENEURSHIP, CENTERS FOR STUDIES WITHIN THE COLLEGE OF HUMANITIES AND SOCIAL SCIENCES, RESEARCH PROGRAMS FOR ENVIRONMENTAL SUSTAINABILITY, ARTS & THEATER, AND STEM TRAINING PROGRAMS WHICH ENHANCE EDUCATION IN INNER CITIES. FOUNDATION SUPPORT OFTEN SERVES AS THE SOLE SOURCE OF FUNDING IN ORDER TO SUSTAIN VITAL INITIATIVES. 2345165 2345165 THE FOUNDATION MANAGES OVER 220 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, AMONG OTHER FACTORS. SCHOLARSHIP AWARDS CONTINUE TO BE IN EXCESS OF 1,300 AWARDS WERE MADE TO BOTH NEED AND MERIT BASED STUDENTS. 204843 204843 THE FOUNDATION MANAGES TWO ANNUAL EVENTS WHICH ARE DESIGNED TO INCREASE DONOR CONNECTIVITY, AWARENESS OF THE NEEDS OF THE UNIVERSITY AND THE FOUNDATION, AND TO FULFILL THE MISSION OF ACADEMIC EXCELLENCE. ONE EVENT PROVIDES FOCUSED FUNDRAISING TOWARDS SCHOLARSHIPS WHILE THE SECOND ENABLES THE FOUNDATION TO PROVIDE RESOURCES FOR MUCH NEEDED SUPPORT TO STUDENT-ATHLETES AS THEY BALANCE THEIR ATHLETIC COMMITMENTS WITH EDUCATIONAL PRIORITIES. FOR FISCAL 2018 THE NET PROCEEDS OF THE GOLF OUTING WERE USED TOWARDS FUNDING FOR TRAINING EQUIPMENT AND TOWARDS AN ALLOCATION TO EACH RESPECTIVE ATHLETIC PROGRAM TO BE USED TOWARDS EQUIPMENT, SUPPLIES AND OTHER ITEMS. THE ANNUAL SCHOLARSHIP REVENUES REALIZED FOR FISCAL 2018 WERE UTILIZED AS AWARDS TO INCOMING FRESHMEN STUDENTS ACROSS ALL DISCIPLINES AND MAJORS, PROVIDING NEED BASED AWARDS TO STUDENTS. 179182 179182 CAPITAL SUPPORT 179182 179182 6697536 1 1 0 0 0 0 0 1 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 99 0 0 0 0 0 0 0 1 1 0 0 0 0 X 23 23 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 JEFF CAMPO 9736554344 ONE NORMAL AVENUE COLLEGE HALL ROOM MONTCLAIR NJ 07043 MICHAEL L CAPONE CHAIRPERSON 1.00 X X 0 0 0 GREGORY COLLINS VICE CHAIR 1.00 X X 0 0 0 DAVID R ALTER TREASURER - THRU 5/14/18 1.00 X X 0 0 0 ANTHONY CARLINO SECRETARY 1.00 X X 0 0 0 ROBERT IACULLO TREASURER 1.00 X X 0 0 0 KEITH ANSBACHER TRUSTEE 1.00 X 0 0 0 ROSE C CALI - EX OFFICIO TRUSTEE 1.00 X 0 0 0 SUSAN COLE - EX OFFICIO TRUSTEE 1.00 X 0 0 0 DAVID TRUBATCH - EX OFFICIO TRUSTEE 1.00 X 0 0 0 MICHAEL H FORMAN TRUSTEE 1.00 X 0 0 0 ANGELO J GENOVA TRUSTEE 1.00 X 0 0 0 JEFFREY L JOHNSON TRUSTEE 1.00 X 0 0 0 AUDREY V LEEF TRUSTEE 1.00 X 0 0 0 ROBERT J LIEBERMAN TRUSTEE 1.00 X 0 0 0 MARCELLA LOCASTRO TRUSTEE 1.00 X 0 0 0 STEVEN RESNICK TRUSTEE 1.00 X 0 0 0 JUDITH A SCHUMACHER-TILTON TRUSTEE 1.00 X 0 0 0 JOHN T SHANNON - EX OFFICIO TRUSTEE 1.00 X 0 0 0 JOHN E SULLIVAN TRUSTEE 1.00 X 0 0 0 NADER TAVAKOLI TRUSTEE - THRU 12/1/17 1.00 X 0 0 0 JULIE JACKSON TRUSTEE 1.00 X 0 0 0 JAMES HUGHES TRUSTEE 1.00 X 0 0 0 HAROLD BRYANT TRUSTEE 1.00 X 0 0 0 PENELOPE VANCE TRUSTEE 1.00 X 0 0 0 ELLEN MCSHERRY TRUSTEE 1.00 X 0 0 0 JEFF CAMPO EXEC. DIR/AVP - FINANCE 40.00 X 118134 0 31031 118134 0 31031 1 0 0 1 GOLDMAN SACHS 200 WEST ST NEW YORK NY 10282 INVESTMENT ADVISOR 279474 GRAHAM-PELTON CONSULTING INC 39 BEECHWOOD ROAD SUMMIT NJ 07901 FUNDRAISING CONSULTANT 144000 2 763757 6331596 479808 7095353 TEACHER PROGRAM 611710 75800 75800 75800 1962054 1962054 89000 89000 13522380 37125 12384403 10400 1137977 26725 1164702 1164702 222574 763757 204843 17731 17731 10404640 75800 0 3233487 6697536 6697536 12945 12945 83250 83250 144000 144000 316294 316294 67167 67167 77891 77891 24750 24750 27193 27193 PURCHASED SERVICES 512725 512725 FUNDRAISING EXPENSES 379305 379305 DIRECT OPERATING EXPENS 3916 3916 8346972 6697536 1126131 523305 85481 16333 2384139 2276070 6679373 7144962 51 155328 149274 61996518 67477379 9178877 8035878 1314015 1278865 81793782 86378761 2066786 3013443 2066786 3013443 X 2703192 3619828 34133709 35832237 42890095 43913253 79726996 83365318 81793782 86378761 X 2057668 1679170 -98516 X X 0 1 X 1 0 X 6532141 9070703 6826080 8123871 7095353 37648148 42480 42480 42480 32440 22400 182280 6574621 9113183 6868560 8156311 7117753 37830428 6170099 31660329 1655848 1983352 2149213 1857099 2051054 9696566 17731 17731 80195 189021 59963 329179 47873904 277650 0.66130 0.66190 X 90846 1187003 X X X SEE SCHEDULE O 0 72053074 1307619 3077561 2379611 74058643 62841531 4123695 7472632 2384784 72053074 60330324 2203724 2576634 2269151 62841531 58572846 455765 3390855 2089142 60330324 56411312 1445989 2006001 1290456 58572846 0.08320 0.59300 0.32380 0 0 0 BENEFICIAL INTEREST IN TRUSTS 250991 F BENEFICIAL INTEREST IN SPLIT-INTEREST AGREEMENTS 80182 F CASH SURRENDER VALUE OF LIFE INSURANCE 82704 F ALTERNATIVE INVESTMENTS 6153277 F PRIVATE EQUITY REAL ESTATE 1468724 F 8035878 X 13304724 1679170 1363881 173327 3216378 10088346 316294 316294 10404640 9666402 1363881 271843 1635724 8030678 316294 316294 8346972 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 PROVIDES EXPERIENTAL LEARNING 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 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES NETTED AGAINST PART VIII, LINE 8 204,843. CHANGE IN VALUE OF SPLIT-INTEREST, CASH SURRENDER, & BENEFICIAL INTEREST -31,516. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES NETTED AGAINST PART VIII, LINE 8 204,843. WRITE-OFF OF PRIOR YEAR PLEDGES DEEMED UNCOLLECTIBLE 67,000. X 1 GRAHAM-PELTON CONSULTING INC 39 BEECHWOOD ROAD SUMMIT NJ 07901 FUNDRAISING CAMPAIGN CONSULTING SERVICES 0 10275144 144000 10131144 10275144 144000 10131144 NJ MSU ANNUAL DINNER 756067 676897 79170 22350 85025 61612 RED HAWK OPEN 113590 86860 26730 30480 5376 15 116674 0 116674 986331 763757 222574 52830 85025 66988 204843 17731 1 MONTCLAIR STATE UNIVERSITY 1 NORMAL AVENUE MONTCLAIR NJ 07043 222912682 170(C)(1) 6697536 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 JEFF CAMPO EXEC. DIR/AVP - FINANCE 118134 0 0 0 0 0 6222 0 24809 0 149165 0 0 0 PART VII, LINE 5 JEFF 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 ($149,165). X 2 90846 APPRAISAL X 9 376362 SELLING PRICE X STEINWAY PIANO 1 10000 APPRAISAL X EQUIPMENT 1 2600 COST/PURCHASE PRICE 1 0 1 0 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, MANAGEMENT REVIEWS 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 SENT TO 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 BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST AT ONE NORMAL AVENUE, COLLEGE HALL ROOM 300, MONTCLAIR, NJ 07043 OR BY CALLING THE ORGANIZATION DIRECTLY AT (973)655-4344. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST, CASH SURRENDER, & BENEFICIAL INTEREST -31,516. WRITE-OFF OF PRIOR YEAR PLEDGES DEEMED UNCOLLECTIBLE -67,000. FORM 990, PART VI, SECTION B, LINE 12C THE PROCESS FOR SELECTING AN INDEPENDENT ACCOUNTANT AND ESTABLISHING A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT HAS NOT CHANGED FROM PRIOR YEARS. FORM 990, SCHEDULE D, PART III, LINE 3E FOR THE FURTHERANCE OF THE MAINTENANCE OF THE GREATER COLLECTION OF ART WORKS PURSUANT TO THE TERMS OF THE GIFT AGREEMENT IN EXISTENCE WITH THE DONOR RED HAWK FUND LLC 1 NORMAL AVENUE MONTCLAIR NJ 07043 824863554 STUDENT INVESTMENT FUND NJ 0 0 MONTCLAIR STATE UNIVERSITY FOUNDATION