Kean University Foundation Inc

Nonprofit profile at a glance

EIN
222849480
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Union, NJ, USA
Phone
9083168920
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$16,722,496
Expenses
$12,104,531
Assets
$125,445,157
Liabilities
$4,844,773

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • WILLIAM MILLER (CEO)

Highest reported compensation

  • WILLIAM MILLER (CEO): $329,743 total reported compensation
  • CLARINDA JOSEPH-CUMBERBATCH (COO): $204,485 total reported compensation
  • EDWARD W AHART II (CDO): $194,077 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization raises funds to support kean university

What it reported doing in 2024

Scholarships to kean university students

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 50% for direct work, and 50% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 83
  • Accountability: 88
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.7%; rating input score 61
  • Program expense ratio: 56%; rating input score 56
  • Fundraising efficiency: $4.88 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.2%; rating input score 96; 30th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 27.6%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 10.36; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 7.9%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 13.9% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 6.8% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 8.2% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 60.7% of revenue deployed · 56% of spending went to programs
  • Governance: 25 of 26 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $6.8M in reported program spending
  • Leadership: top reported pay $330K · 30 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $917K reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.