Montclair State University Foundation Inc

Nonprofit profile at a glance

EIN
226017209
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Montclair, NJ, USA
Phone
9736554344
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$35,588,544
Expenses
$14,612,208
Assets
$168,171,154
Liabilities
$4,993,611

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

Leadership & pay

27 people listed

Highest reported compensation

  • SHIN K MOON (AVP - FINANCE): $152,791 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 montclair state university foundation ("the foundation") was established to encourage and support the growth and development of montclair state university through fundraising activities that help further the educational, experiential, and cultural influence of the university for its students, faculty, and staff. Funds raised are used primarily for scholarship support, programmatic initiatives that establish and/or fund centers for academic research and study, and support for the maintenance and repair of academic facilities.

What it reported doing in 2024

The foundation manages in excess of 250 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 of the university among other factors. Scholarship awards continue to increase and for fiscal 2025 in excess of 1,500 awards were made to both need and merit based students.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of total spending goes to programs and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 60
  • Accountability: 95
  • Sustainability: 92
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.1%; rating input score 41
  • Program expense ratio: 82.4%; rating input score 82
  • Fundraising efficiency: $108.69 raised per $1 spent on fundraising; rating input score 85; 85th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • 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: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 58.9%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 11.51; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 85; 85th percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 8.7% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 41.1% of revenue deployed · 82.4% of spending went to programs
  • Governance: 25 of 25 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $12M in reported program spending
  • Leadership: top reported pay $153K · 27 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $542K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.