2015-03-16T17:18:52-05:00 2014-06-30 200413744 RA Eberle & Company LLC 2400 Morris Avenue Suite 204 Union NJ 070833313 990 2013-07-01 222849480 KEAN UNIVERSITY FOUNDATION INC KEAN 9087373340 1000 MORRIS AVENUE No T-130 UNION NJ 070830411 CARLA S WILLIS PRESIDENT 9087373340 2015-03-03 1 RICHARD EBERLE P00131086 9086877820 2013 2016-04-25 22:37:26Z CARLA S WILLIS 1000 MORRIS AVENUE No T-130 UNION NJ 070830411 26351177 0 X www.keanfoundation.org X 1984 NJ THE ORGANIZATION RAISES FUNDS TO SUPPORT KEAN UNIVERSITY 27 18 0 0 -96577 -138693 2552381 3214805 1504189 613502 1612071 2778500 683203 1102500 6351844 7709307 894327 1176896 0 0 0 0 0 0 452498 1841466 2763217 2735793 3940113 3616051 3769194 53672730 56755596 24187661 23501333 29485069 33254263 TO OBTAIN PRIVATE FUNDING TO ENHANCE THE CURRENT AND FUTURE EDUCATIONAL GOALS OF KEAN UNIVERSITY. 0 0 1176896 1176896 SCHOLARSHIPS TO KEAN UNIVERSITY STUDENTS. 441601 PROGRAMS INCURRED ON BEHALF OF KEAN UNIVERSITY. 19314 GRANTS TO KEAN UNIVERSITY ALUMNI 1637811 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 1 0 0 0 1 48 0 1 0 1 1 0 0 0 0 1 1 0 0 X 27 18 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NJ X KEAN UNIVERSITY FOUNDATION 9077373340 1000 MORRIS AVENUE UNION NJ 07083 X CARLA S WILLIS PRESIDENT 40.00 X X 0 0 0 DAWOOD Y FARAHI EX OFFICIO 0.00 X 0 0 0 KEVIN ALTON DIRECTOR 0.00 X 0 0 0 PATRICIA M BARKSDALE DIRECTOR 0.00 X 0 0 0 W JOHN BAUER DIRECTOR 0.00 X 0 0 0 MARIA E BORDAS DIRECTOR 0.00 X 0 0 0 ROBERT H BUSCH DIRECTOR/SECRETARY 0.00 X 0 0 0 WILLIAM J CARISTE DIRECTOR 0.00 X 0 0 0 EDWARD A ESPOSITO EX OFFICIO 0.00 X 0 0 0 JAMES K ESTABROOK DIRECTOR 0.00 X 0 0 0 STEVE FASTOOK DIRECTOR/CHAIRMAN 0.00 X 0 0 0 ANTHONY GIORDANO III DIRECTOR 0.00 X 0 0 0 KENNETH N GOLDMANN DIRECTOR/TREAS/VICE CHAIR 0.00 X 0 0 0 DOROTHY G HENNINGS DIRECTOR 0.00 X 0 0 0 GEORGE HENNINGS DIRECTOR 0.00 X 0 0 0 JAMES G HYNES DIRECTOR 0.00 X 0 0 0 ADA MORRELL EX OFFICIO 0.00 X 0 0 0 MARJORIE A PERRY DIRECTOR 0.00 X 0 0 0 BARBARA SOBEL EX OFFICIO 0.00 X 0 0 0 GAIL E FRASER DIRECTOR EMERITUS 0.00 X 0 0 0 LI-WOAN YANG DIRECTOR EMERITUS 0.00 X 0 0 0 DANIEL J CHARLESTON DIRECTOR EMERITUS 0.00 X 0 0 0 NANCY ANN SCHLEICHER DIRECTOR EMERITUS 0.00 X 0 0 0 BILL LOEHNING DIRECTOR 0.00 X 0 0 0 SCOTT N SHOBER DIRECTOR 0.00 X 0 0 0 LINDA TUMA DIRECTOR 0.00 X 0 0 0 DONALD CONKLIN DIRECTOR EMERITUS 0.00 X 0 0 0 0 0 0 0 0 0 0 TAYLOR FINANCIAL GROUP LLC 851 FRANKLIN LAKES ROAD FRANKLIN LAKES NJ 074171368 INVESTMENT MANAGEMENT 222725 1 51292 3163513 7380 3214805 OTHER INCOME 900099 613502 613502 613502 1220736 1220736 263946 87982 45285 184559 218661 -96577 122084 -96577 218661 19289976 314495 18046707 0 1243269 314495 1557764 1557764 365319 51292 365319 0 UNREALIZED GAIN ON SECURITIES 900099 1061547 1061547 INCREASE IN CASH SURRENDER VALUE 900099 4957 4957 CHANGE IN VALUE SPLIT INTEREST AG 900099 -86088 -86088 980416 7709307 532371 -96577 4058708 X 1176896 1176896 281147 281147 5000 5000 111778 111053 725 4710 1610 3100 3165 3165 764363 764363 19314 19314 12838 12838 16736 16736 KEAN UNIVERSITY PROGRAM 441601 441601 GALA EXPENSES 301137 301137 REIMBURSED EXPENSES 251938 251938 MISCELLANEOUS 114019 114019 435471 287935 147536 3940113 1637811 1849804 452498 X 7186039 6046571 1182450 1707932 568419 365664 343720 299825 3273154 816447 2694873 2456707 16982989 20866627 5561608 4396061 19152632 20616209 53672730 56755596 3526811 2596374 18280987 17908645 2379863 2996314 24187661 23501333 X 5612737 5790129 10473101 13924636 13399231 13539498 29485069 33254263 53672730 56755596 3769194 0 X X 0 1 X 1 0 X 4610709 2523330 2929128 2552381 3214805 15830353 4610709 2523330 2929128 2552381 3214805 15830353 15830353 316421 481869 467079 416720 1220736 2902825 18733178 0.84500 0.89710 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13399231 140267 13539498 13122985 276246 13399231 12968594 229416 74900 125 13122985 10864955 2103639 12968594 11152448 762507 1050000 10864955 0 0 1867673 156362 1711311 958788 409600 549188 446702 250494 196208 2456707 4396061 C 4396061 SECURITIES HELD FOR GEAR UP SCHOLARSHIP FUND 1533329 CASH SURRENDER VALUE LIFE INSURANCE POLICY 229426 DEFERRED CHARGES, NET 469599 INVESTMENT IN DIRECT FINANCING LEASE 18383855 20616209 ANNUITY PAYABLE LIABILITY 1074763 GEAR UP SCHOLARSHIP FUND-AGENCY ACCOUNT 1533329 UNEARNED INTEREST INCOME PAYABLE 388222 2996314 X 8277482 568178 568178 7709304 3 3 7709307 4508288 568178 568178 3940110 3 3 3940113 Part V, Line 4: TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY THE ENDOWMENT WHILE SEEKING TO PRESERVE THE PURCHASING POWER OF ENDOWMENT ASSETS. Part X, Line 2: THE FOUNDATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH INCOME TAX ACCOUNTING GUIDANCE IN FASB ASC TOPIC 740, INCOME TAXES. THE FOUNDATION FOLLOWS THE STATUTORY REQUIREMENTS FOR ITS INCOME TAX ACCOUNTING AND GENERALLY AVOIDS RISKS ASSOCIATED WITH POTENTIALLY PROBLEMATIC TAX POSITIONS THAT MAY BE CHALLENGED UPON EXAMINATION. MANAGEMENT BELIEVES ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING ADDITIONAL INCOME TAXES FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE FOUNDATION'S TAX-EXEMPT STATUS WOULD NOT HAVE A MATERIAL EFFECT ON THE FOUNDATION'S FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS, HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE FOUNDATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2011. Part XI, Line 2d - Other Adjustments: RENTAL DEPRECIATION EXPENSE 229,844. REIMBURSED EXPENSES OFFSET AGAINST ACTUAL EXPENSES 338,334. Part XI, Line 4b - Other Adjustments: ROUNDING 3. Part XII, Line 2d - Other Adjustments: DEPRECIATION RECLASSIFIED AGAINST RENT 229,844. EXPENSES REDUCED BY REIMBURSEMENTS INCLUDED IN INCOME 338,334. Part XII, Line 4b - Other Adjustments: ROUNDING 3. GOLF OUTING 90249 26067 64182 1000 37500 25682 ANNUAL GALA 326362 25225 301137 4000 68871 228266 416611 51292 365319 5000 106371 253948 365319 0 1 SCHOLARSHIPS TO KEAN UNIVERSITY STUDENTS 286 1176896 A BERGEN COUNTY IMPROVEMENT AUTHORITY 222295826 083778JD3 2010-12-09 18161291 CONSTRUCT ACADEMIC BUILDING 0 0 0 A 18161291 1293599 362986 14644996 1859710 0 0 0 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 A 0 DANIEL J CHARLESTON FORMER BOARD MEMBER 0 INVESTMENT ACTIVITES 0 X OFFICE SUPPLI 1 7380 RETAIL VALUE 0 0 0 Form 990, Part VI, Section A, line 2 BOARD MEMBERS DR. DOROTHY G. HENNINGS AND DR. GEORGE HENNINGS ARE HUSBAND AND WIFE. Form 990, Part VI, Section B, line 11 FORM 990 IS PREPARED BY AN ACCOUNTING PROFESSIONAL. ELECTRONIC COPIES ARE DISTRIBUTED TO BOARD MEMBERS FOR REVIEW AND APPROVAL. THE FINAL VERSION IS REVIEWED AND SIGNED BY THE PRESIDENT OF THE FOUNDATION, AND FILED. Form 990, Part VI, Section B, line 12c OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT A SIGNED STATEMENT ANNUALLY. Form 990, Part VI, Section C, line 19 COPIES OF ALL DOCUMENTS ARE AVAILABLE UPON REQUEST FROM THE FOUNDATION. Form 990, Part IX, line 24e PROFESSIONAL FEES: Program service expenses 0. Management and general expenses 108,228. Fundraising expenses 4,365. Total expenses 112,593. GOLF EXPENSES: Program service expenses 0. Management and general expenses 0. Fundraising expenses 64,182. Total expenses 64,182. BAD DEBTS: Program service expenses 0. Management and general expenses 52,073. Fundraising expenses 0. Total expenses 52,073. ALLOCATED SALARIES: Program service expenses 0. Management and general expenses 40,873. Fundraising expenses 4,139. Total expenses 45,012. TELEFUND SERVICES: Program service expenses 0. Management and general expenses 0. Fundraising expenses 43,694. Total expenses 43,694. FOOD SERVICE & CATERING: Program service expenses 0. Management and general expenses 21,317. Fundraising expenses 1,833. Total expenses 23,150. AMORTIZATION BOND ISSUANCE COSTS: Program service expenses 0. Management and general expenses 18,476. Fundraising expenses 0. Total expenses 18,476. BANK FEES: Program service expenses 0. Management and general expenses 10,590. Fundraising expenses 0. Total expenses 10,590. PRINTING & DUPLICATION: Program service expenses 0. Management and general expenses 0. Fundraising expenses 9,325. Total expenses 9,325. IN KIND SERVICES: Program service expenses 0. Management and general expenses 6,842. Fundraising expenses 538. Total expenses 7,380. EVENT SUPPLIES: Program service expenses 0. Management and general expenses 6,169. Fundraising expenses 939. Total expenses 7,108. MEALS & ENTERTAINMENT: Program service expenses 0. Management and general expenses 2,134. Fundraising expenses 4,952. Total expenses 7,086. MAILING SERVICES: Program service expenses 0. Management and general expenses 0. Fundraising expenses 5,816. Total expenses 5,816. DUES & MEMBERSHIPS: Program service expenses 0. Management and general expenses 4,540. Fundraising expenses 350. Total expenses 4,890. HOUSING ALLOWANCE: Program service expenses 0. Management and general expenses 4,250. Fundraising expenses 0. Total expenses 4,250. BERGEN COUNTY UTIL AUTHORITY ANNUAL FEE: Program service expenses 0. Management and general expenses 4,000. Fundraising expenses 0. Total expenses 4,000. PROSPECT RESEARCH: Program service expenses 0. Management and general expenses 0. Fundraising expenses 3,850. Total expenses 3,850. PUBLICATIONS & PERIODICALS: Program service expenses 0. Management and general expenses 2,409. Fundraising expenses 0. Total expenses 2,409. AUTO EXPENSES: Program service expenses 0. Management and general expenses 2,125. Fundraising expenses 0. Total expenses 2,125. DONOR RECOGNITION: Program service expenses 0. Management and general expenses 176. Fundraising expenses 1,790. Total expenses 1,966. SUPPLIES: Program service expenses 0. Management and general expenses 1,927. Fundraising expenses 0. Total expenses 1,927. POSTAGE: Program service expenses 0. Management and general expenses 0. Fundraising expenses 1,663. Total expenses 1,663. TELEPHONE: Program service expenses 0. Management and general expenses 1,181. Fundraising expenses 0. Total expenses 1,181. NJ FILING FEES: Program service expenses 0. Management and general expenses 625. Fundraising expenses 100. Total expenses 725. FORM 990 PART XI LINE 2C NO CHANGE IN THE SELECTION PROCESS KEAN UNIVERSITY 1000 MORRIS AVENUE UNION NJ 07083 222960726 UNIVERSITY--PROVIDE POST SECONDARY EDUCATION TO STUDENTS NJ 501(c)(3) 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 KEAN UNIVERSITY B 443201 CASH DISBURSEMENTS