2016-01-14T15:03:18-06:00 2015-06-30 271728945 O'CONNOR DAVIES LLP 15 ESSEX RD PARAMUS NJ 076521412 990 2014-07-01 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 2016-01-13 1 JOSEPH N RUSSELL P00168046 2017129800 2014 2016-04-25 22:37:26Z JEFF CAMPO ONE NORMAL AVE COLLEGE HALL NO 300 MONTCLAIR NJ 07043 18296380 0 X WWW.MONTCLAIR.EDU/GIVING X 1960 NJ THE PURPOSE IS TO ENCOURAGE AND SUPPORT THE DEVELOPMENT OF MONTCLAIR STATE UNIVERSITY IN WAYS FOR WHICH STATE FUNDS MAY NOT OTHERWISE BE MADE AVAILABLE. 22 22 0 19 0 0 6612336 9259724 0 0 1814251 2141043 -91320 -134729 8335267 11266038 2298997 1831884 0 0 0 0 57000 80000 80000 3606139 4693118 5962136 6605002 2373131 4661036 73333205 77195637 1879907 2564378 71453298 74631259 X THE PURPOSE IS TO ENCOURAGE AND SUPPORT THE DEVELOPMENT OF MONTCLAIR STATE UNIVERSITY IN WAYS FOR WHICH STATE FUNDS MAY NOT OTHERWISE BE MADE AVAILABLE. 0 0 3501045 1237157 PROGRAMS: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 THE SEVEN 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 150 FUNDS WHICH HAVE BEEN CREATED BASED ON DONOR RESTRICTIONS TOWARDS THESE PURPOSES. FUNDS MAY BE TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED (ENDOWED) BASED ON DONNOR INTENT. TOP PROGRAMS SUPPORTED INCLUDED THE CENTER FOR AUTISM, THE CENTER FOR ENTREPRENEURSHIP, ALUMNI RELATIONS, ARTS & THEATER CENTRIC INITIATIVES AND SCIENCE PROGRAMS WHICH FOCUS ON HEALTH, NUTRITION AND THE ENVIRONMENT. 1702658 594727 SCHOLARSHIPS:THE FOUNDATION MANAGES OVER 200 FUNDS GEARED TOWARDS AWARDING 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. AS A RESULT, SCHOLARSHIP AVAILABILITY HAS BECOME A TOP PRIORITY. IN FISCAL 2015 THE FOUNDATION AWARDED OVER 1,100 SCHOLARSHIP AWARDS TO 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. 360189 EVENT: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. IN THAT REGARD THE FOUNDATION HAS MORE THAN DOUBLED PAST FUNDRAISING EFFORTS THEREBY INCREASING THE AVAILABILITY OF SCHOLARSHIP AWARDS AND RESOURCES FOR DEPLOYMENT OF MUCH NEEDED FUNDING FOR STUDENT/ATHLETE CENTRIC INITIATIVES WHICH FOSTER IMPROVED FACILITIES FOR ENHANCED LEARNING. 41038 CAPITAL FUNDS 41038 5604930 1 1 0 0 0 0 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 58 0 0 0 0 0 0 0 1 1 0 0 0 0 X 22 22 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NJ X X THE ORGANIZATION 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 1.00 X X 0 0 0 ANTHONY CARLINO SECRETARY 1.00 X X 0 0 0 KEITH ANSBACHER TRUSTEE 1.00 X 0 0 0 KRISTEN BUNK TRUSTEE UNTIL MARCH 2015 1.00 X 0 0 0 ROSE C CALI TRUSTEE 1.00 X 0 0 0 SUSAN A COLE TRUSTEE 1.00 X 0 0 0 SAUNDRA COLLINS 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 ROBERT IACULLO 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 JOHN F SCHMIDT TRUSTEE 1.00 X 0 0 0 JUDITH A SCHUMACHER TILTON TRUSTEE 1.00 X 0 0 0 JOHN T SHANNON TRUSTEE 1.00 X 0 0 0 PAUL V STAHLIN TRUSTEE 1.00 X 0 0 0 JOHN E SULLIVAN TRUSTEE 1.00 X 0 0 0 NADER TAVAKOLI TRUSTEE 1.00 X 0 0 0 JEFF CAMPO EXEC. DIR/AVP - FINANCE 40.00 X 91325 0 24600 91325 0 24600 0 0 0 1 WELLS FARGO ONE WEST FOURTH STREET 2ND FL WINSTONSALEM NC 27101 INVESTMENT ADVISOR 181891 1 846675 8413049 347917 9259724 1892089 1892089 6999107 6750153 248954 248954 248954 145460 846675 280189 -134729 -134729 11266038 0 0 2006314 1831884 1831884 20783 20783 87505 87505 80000 80000 185571 185571 56586 56586 92528 92528 1603 1603 1716 1716 20000 20000 20379 20379 PROGRAM AND OTHER FUND 3180638 3180638 INSTITUTIONAL SUPPORT 551370 551370 PURCHASED SERVICES 410604 410604 CAPITAL FUNDS 41038 41038 22797 22797 6605002 5604930 920072 80000 456341 95315 7376022 7046446 3065077 6722919 13976 14318 88530 158604 60094526 51539181 748179 10089052 1490554 1529802 73333205 77195637 1879907 2564378 1879907 2564378 X 6210786 3496512 27454929 32705357 37787583 38429390 71453298 74631259 73333205 77195637 X 4661036 -1474591 -8484 X X 0 1 X 1 0 X 5633638 5390928 7746707 6612336 9259724 34643333 5633638 5390928 7746707 6612336 9259724 34643333 6777371 27865962 1137873 1136970 914445 1576848 1892089 6658225 60135 155547 107411 323093 41624651 5000 0.66950 0.68440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 119200 1427200 X X X 0 58572846 455765 3390855 2089142 60330324 56411312 1445989 2006001 1290456 58572846 53207616 5002390 1719869 1460562 2031658 26343 56411312 51524809 1675297 1450261 697655 693250 51846 53207616 51075838 1635219 1688741 1931092 871109 72788 51524809 0.03770 0.63700 0.32530 0 0 0 BENEFICIAL INTEREST IN TRUSTS 420360 F BENEFICIAL INTEREST IN SPLIT-INTEREST AGREEMENTS 137746 F CASH SURRENDER VALUE OF LIFE INSURANCE 75855 F HEDGE FUNDS 9147091 F PRIVATE EQUITY REAL ESTATE 308000 F 10089052 X 11333307 -1474591 1270155 271705 67269 11266038 0 11266038 8155346 1270155 280189 1550344 6605002 0 6605002 PART III, LINE 4: 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. 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 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES NETTED AGAINST PART VIII, LINE 8 280,189. CHANGE IN VALUE OF SPLIT-INTEREST, CASH SURRENDER, & BENEFICIAL INTEREST -8,484. IN TRUSTS. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES NETTED AGAINST PART VIII, LINE 8 280,189. X 1 EVERGREEN PARTNERS INC 51 MT BETHEL ROAD WARREN NJ 07059 EVENT COORDINATION & FUNDRAISING 0 947696 80000 867696 947696 80000 867696 NJ MSU ANNUAL DINNER 548113 468397 79716 106734 44075 KASSER ANNIVERSARY 308933 269173 39760 40471 52849 4 135089 109105 25984 28056 1527 6477 992135 846675 145460 28056 148732 44075 59326 280189 -134729 SCHEDULE G, PART I, LINE 2B, COLUMN (V) EVERGREEN PARTNER, INC. SHALL PROVIDE EVENT COORDINATION ASSISTANCE AND FUNDRAISING SERVICES TO MSU FOUNDATION, IN CONNECTION WITH THE KASSER 10TH ANNIVERSARY EVENT, 2014 RED HAWK GOLF OUTING, AND THE 2015 ANNUAL SCHOLARSHIP DINNER. 1 FELLOWSHIPS PAID FOR THE BENEFIT OF AN INDIVIDUAL TO AID IN THE PURSUIT OF STUDY OR RESEARCH 23 119332 SCHOLARSHIPS PAID FOR THE BENEFIT OF A STUDENT AT MONTCLAIR STATE UNIVERSITY TO AID IN THE PURSUIT OF STUDIES 1152 1709652 HONORARIUM PAYMENTS GIVEN TO A PROFESSIONAL PERSON FOR SERVICES AS A GESTURE OF GOOD WILL AND APPRECIATION 8 2900 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 91325 0 0 0 0 0 5130 0 19470 0 115925 0 0 0 X 5 119200 FMV X 325 X 7 200882 FMV X SUPPLIES/EQUIPMENTS 4 27510 FMV 2 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART 1, COLUMN (B) OF SCHEDULE M. FORM 990, PART VI, SECTION A, LINE 4 DURING FISCAL 2015 THE BYLAWS FOR THE MONTCLAIR STATE UNIVERSITY FOUNDATION, INC. WERE AMENDED. THE REVISED BYLAWS CONTAINED THE FOLLOWING MATERIAL CHANGES: 1. ARTICLE V: SECTIONS 1-3 WERE CHANGED TO BETTER ADDRESS TERMS OF SERVICE, PARAMETERS FOR APPOINTMENT AND ROLES FOR OFFICERS OF THE BOARD, THE CHAIRMAN AND VICE CHAIRMAN, AND THE SECRETARY AND TREASURER. SECTION 4 WAS ADDED TO INCORPORATE THE CONCEPT OF AN EXECUTIVE DIRECTOR. 2. ARTICLE VI: SECTIONS WERE UPDATED TO MORE ADEQUATELY DEFINE THE ROLES AND RESPONSIBILITIES OF THE VARIOUS COMMITTEES OF THE BOARD INCLUDING ALIGNMENT OF THE ROLE OF THE INVESTMENT COMMITTEE MORE CLOSELY TO UPMIFA, EXPANDING TERMINOLOGY FOR THE AUDIT COMMITTEE TO MORE CLOSELY ALIGN WITH THE PROVISIONS OF SARBANES-OXLEY AND TO INTRODUCE AND/OR EXPAND THE ROLES FOR THE EXECUTIVE, DEVELOPMENT, AND NOMINATING COMMITTEES. 3. RECASTING OF BOARD MEMBERS TO BETTER ALIGN MEMBERSHIP WITH THE NEEDS AND RESPONSIBILITIES OF THE BOARD TO SERVE THE FOUNDATION AS DEFINED IN SECTION 2 - "NUMBER, TENURE, AND QUALIFICATIONS". FORM 990, PART VI, SECTION B, LINE 11 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. THEN THE FORM 990 IS 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. 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 ON 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 GUIDESTAR.ORG 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 -8,484. 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.