Cumberland County College Foundation in Vineland, New Jersey (NJ)

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Cumberland County College Foundation
Employer Identification Number (EIN)222609346
Name of OrganizationCumberland County College Foundation
AddressPO BOX 1500, Vineland, NJ 08362-1500
ActivitiesOther school related activities
SubsectionCharitable Organization
Ruling Date10/1989
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$8,261,447
Amount of Income$3,474,166
Form 990 Revenue Amount$653,389
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2012: $3,474,166
This organization: 

 $3,474,166
Other organizations performing similar types of work: 

 $258,712

Assets in 2012: $8,261,447
This organization: 

 $8,261,447
Other organizations performing similar types of work: 

 $1,074,371

Expenses in 2007: $857,664
This organization: 

 $857,664
Other organizations performing similar types of work: 

 $477,097

Income to expenses ratio in 2007: 2.4
Cumberland County College Foundation: 

 2.4
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 74.1%
This organization: 

 74.1%
Other organizations performing similar types of work: 

 82.5%

Grants share in income in 2007: 78.1%
Cumberland County College Foundation: 

 78.1%
Other organizations performing similar types of work: 

 37.1%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20032004200520062007
Total revenue$820,681$733,642$1,865,130$1,518,215$2,028,133
Contributions, gifts, grants, and similar amounts received$733,064$570,874$1,562,527$959,395$1,584,379
Contributions to donor advised funds$0$0
Direct public support$733,064$570,874$1,562,527$959,395$1,584,379
Indirect public support$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$41,946$45,703$96,669$180,702$172,366
Dividends and interest from securities$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0
Gross rents$0$0$0$0$0
Less: rental expenses$0$0$0$0$0
Other investment income$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$45,671$117,065$205,934$378,118$271,388
Gross amount from sales of assets other than inventory$1,431,994$1,260,295$2,818,391$1,842,716$2,510,127
Less: cost or other basis and sales expenses$1,386,323$1,143,230$2,612,457$1,464,598$2,238,739
Net income or (loss) from special events and activities$0$0$0$0$0
Gross revenue$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$0$0$0$0$0
Total expenses$358,472$449,270$753,651$614,963$857,664
Program services$183,409$232,457$333,031$356,017$635,469
Management and general$88,707$152,905$253,323$103,561$114,333
Fundraising$86,356$63,908$167,297$155,385$107,862
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$5,398,856$5,801,260$6,943,414$7,947,405$8,531,721
Excess or (deficit) for the year$462,209$284,372$1,111,479$903,252$1,170,469
Net assets or fund balances at beginning of year$4,745,396$5,398,856$5,801,260$6,943,414$7,947,406
Other changes in net assets or fund balances$191,251$118,032$30,675$100,739$-586,154
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$857,664$635,469$114,333$107,862
Grants paid from donor advised funds$0
Other grants and allocations$635,469
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$222,195$0$114,333$107,862
Balance Sheets
20032004200520062007
Total assets$5,538,729$5,970,930$7,246,262$8,127,725$8,735,275
Cash - non-interest-bearing$1,163,324$0$0$928,210$953,004
Savings and temporary cash investments$0$1,351,869$1,640,543$0$0
Accounts receivable less allowance for doubtful accounts$0$0$2,770$3,921$0
Pledges receivable less allowance for doubtful accounts$1,886,418$1,776,428$2,227,218$1,920,689$1,672,922
Grants receivable$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$0$1,000$3,575$700$0
Investments - publicly-traded securities$5,229,174$6,066,623
Investments - other securities$2,473,760$2,836,989$3,355,883$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Investments - other$0$0$0$18,605$17,970
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Other assets, including program-related investments$15,227$4,644$16,273$26,426$24,756
Total liabilities$139,873$169,670$302,848$180,320$203,554
Accounts payable and accrued expenses$100$0$0$0$0
Grants payable$0$0$0$0$0
Deferred revenue$20,014$26,100$17,750$12,250$3,250
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0
Other liabilities$119,759$143,570$285,098$168,070$200,304
Total liabilities and net assets/fund balances$5,538,729$5,970,930$7,246,262$8,127,725$8,735,275
Total net assets or fund balances$5,398,856$5,801,260$6,943,414$7,947,405$8,531,721
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20032004200520062007
Total revenue$820,681$733,642$1,865,130$1,518,215$2,028,133
Total revenue, gains, and other support per audited financial statements$1,011,932$851,674$1,895,805$1,618,954$1,441,979
Other expenses$191,251$118,032$30,675$100,739$-586,154
Net unrealized gains on investments$191,251$118,032$30,675$100,739$-586,154
Donated services and use of facilities$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0
Other$0$0$0$0$0
Other revenue$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20032004200520062007
Total expenses$358,472$449,270$753,651$614,963$857,664
Total expenses and losses per audited financial statements$358,472$449,270$753,651$614,963$857,664
Other revenue$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$0$0
Other$0$0$0$0$0
Other expenses$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$443,754
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$172,366
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$271,388
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organizationType III
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
221779135No$0
Total$0
Support Schedule
20022003200420052006
Total$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0
Membership fees received$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0
Other income$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$653,389
Contributions, Gifts, Grants and Other Similar Amounts$409,527
Program Service Revenue$832
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$135,549
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$138,793
Gross amount from sales of assets other than inventory (Securities / Other)$2,871,052 / $0
Less: cost or other basis and sales expenses (Securities / Other)$2,732,259 / $0
Gain or (loss) (Securities / Other)$138,793 / $0
Net loss from fundraising events$-31,312
Gross income from fundraising events$57,206
Less: direct expenses$88,518
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$1,205,469
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$1,205,469
Balance Sheet (for 2012)
Total assets$8,261,447
Total liabilities$170,838
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$170,838
Total net assets or fund balances$8,090,609
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1United Negro College Fund Inc1805 7th Street Nw, Washington, DC 20001-3186DC2004-10$3,619,658,392
2Massachusetts Higher Education Assistance Corporation, American Student Assistance100 Cambridge St Ste 1600, Boston, MA 02114-2518MA1958-12$311,626,562
3Scholarship America Inc, S-V Dollars For Scholars1024 South Locust, Sesser, IL 62884IL1962-04$178,360,029
4Trinity Higher Education Authority Inc2600 Washington Avenue, Waco, TX 76710TX1989-09$138,316,451
5Nebraska Student Loan Program IncPO BOX 82507, Lincoln, NE 68501-2507NE1987-10$89,880,909
6National Merit Scholarship Corporation1560 Sherman Ave Ste 200, Evanston, IL 60201-4816IL1957-01$81,100,833
7Hispanic Scholarship Fund1411 W 190th St Ste 325, Gardena, CA 90248-4362CA1976-01$75,863,104
8Dartmouth Educational Loan Corp7 Lebanon St Ste 302, Hanover, NH 03755-2112NH1982-04$71,016,388
9Iowa Student Loan Liquidity Corp6805 Vista Dr, Wdm, IA 50266-9307IA1981-02$70,055,349
10N H Higher Education Loan CorporationPO BOX 2111, Concord, NH 03302-2111NH1983-04$68,122,947
11Nc Student Aid Association IncPO BOX 37100, Raleigh, NC 27627-7100NC1955-08$63,740,166
12Miss America Organization222 New Rd Ste 700, Linwood, NJ 08221-1286NJ1944-03$7,258,066
13Cumberland County College FoundationPO BOX 1500, Vineland, NJ 08362-1500NJ1989-10$3,474,166
14George H Laufenberg Scholarship Fund IncRaritan Plaza Ii Fieldcrest Avenue, Edison, NJ 08818NJ1996-11$616,295
15Executive Women Of New Jersey Charitable Trust1255 Whitehorse Mercerville Rd B, Trenton, NJ 08619-3800NJ1990-04$108,002
16Merrill Lynch Scholarshup Builder Fdn IncCresskill, NJ 07626NJ$69,584
17The Michael R Codella Foundation IncParsippany, NJ 07054NJ$27,794
18Eileen N Mahan Schl Fd Created Ua Vi Para B E N Mahan Rvoc Tr 022691PO BOX 1501, Pennington, NJ 08534-0671NJ2000-09$232,036
19Friends Of The Mainland Pba Local 77, A New Jersey Non Profit Corp6712 Washington Ave Ste 104, Egg Hbr Twp, NJ 08234-1999NJ1997-03$87,300
20Mercer County Bar Foundation Inc1245 Whitehorse-Mercerville Rd No, Mercerville, NJ 08619-3831NJ1996-08$84,916
Number of organizations performing similar types of work
Alaska3
Alabama11
Arkansas13
Arizona21
California93
Colorado3
Connecticut3
District of Columbia8
Delaware2
Florida9
Georgia9
Hawaii3
Iowa8
Illinois27
Indiana7
Kansas1
Kentucky3
Louisiana4
Massachusetts15
Maryland8
Michigan3
Minnesota27
Missouri8
Mississippi3
Montana1
North Carolina14
North Dakota2
Nebraska2
New Hampshire2
New Jersey12
New Mexico1
New York17
Ohio18
Oklahoma3
Oregon1
Pennsylvania18
Rhode Island1
South Carolina6
South Dakota2
Tennessee5
Texas38
Utah1
Virginia14
Vermont1
Washington5
Wisconsin14
Wyoming3
International3
Total476

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