Ramapo College Foundation
Nonprofit profile at a glance
- EIN
- 510244756
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Mahwah, NJ, USA
- Phone
- 2016847611
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $9,405,405
- Expenses
- $4,539,875
- Assets
- $37,818,185
- Liabilities
- $666,969
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
62 people listed
Highest reported compensation
- CHRISTOPHER ROMANO (EX OFFICIO, EXEC. DIR.): $185,032 total reported compensation
- ROSEANN TOSCANO (CFO): $126,512 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 ramapo college foundation, founded in 1971, is a nonprofit corporation organized under the laws of the state of New Jersey for the benefit of ramapo college of New Jersey. It provides unrestricted, restricted and capital support to the college to meet the academic needs of approximately 6,000 students and a faculty and staff of approximately 800. The college has over 30,000 alumni and 3,000 friends, donors and volunteers.
What it reported doing in 2024
Raising funds to award need-based, merit-based, or study-abroad scholarships is a priority of the foundation. Over 620 student scholarships were awarded in fiscal year 2025 totaling more than $978,000. Over the past 5 years student scholarships increased 47%. Endowed scholarship principal increased by $4,878,000. The foundation received its largest gift the history of the college. The rate of return on all endowed investments was 11.2%. Over the last 5 years there has been a 61% increase in the overall endowment value.
Operating model
- Revenue model
- Donor-supported. 80% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 86% 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 the filed numbers largely add up. 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: 68
- Transparency & Controls: 71
- Accountability: 90
- Sustainability: 85
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 51.1%; rating input score 51
- Program expense ratio: 92.2%; rating input score 92
- Fundraising efficiency: $66.79 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 51.7%; rating input score 93; 93rd percentile among comparable filings
- Total-asset coverage ratio: 8.33; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
- Officer compensation ratio: 6.9%; rating input score 42; 42nd percentile among comparable filings
Growth
- Program expense growth: -0.4% per year; rating input score 0; 12th percentile among comparable filings
- Revenue growth: 0.4% per year; rating input score 100; 13th percentile among comparable filings
- Asset growth: 3.4% per year; rating input score 100; 26th percentile among comparable filings
Details
- Where the money goes: 51.1% of revenue deployed · 92.2% of spending went to programs
- Governance: 52 of 52 board members independent · 6 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $4.2M in reported program spending
- Leadership: top reported pay $185K · 62 people listed · 0 of 6 pay-setting controls reported
- Consistency: 27 of 27 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 4 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.
- Review — Financial Efficiency: Mission deployment rate scored 51/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Growth: Program expense growth scored 0/100.
- Moderate — Sustainability: Officer compensation ratio scored 42/100.