Civic Intelligence

Bloomfield College

990 • Fiscal year 2016 • EIN 22-1494428

Jul 01, 2015 to Jun 30, 2016 • Filed on Apr 13, 2017

Refreshing map…

467 Franklin StreetBloomfield, NJ 07003

(973) 748-9000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

58th percentile

0.41x

Higher debt load relative to assets than 58% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

57th percentile

0.62x

Higher debt load relative to revenue than 57% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Net Margin

58th percentile

4.7%

Higher net margin than 58% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

52nd percentile

2.2%

Faster asset growth than 52% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

51st percentile

3.0%

Faster revenue growth than 51% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Assets

Up

$100,322,356

Up $2,119,171 (+2.2%) from 2015

Net Assets

Up

$59,430,270

Up $2,294,755 (+4.0%) from 2015

Liabilities

Down

$40,892,086

Down $175,584 (-0.4%) from 2015

Revenue

Up

$65,747,384

Up $1,945,801 (+3.0%) from 2015

Expenses

Up

$62,685,062

Up $1,688,247 (+2.8%) from 2015

Net Income

Up

$3,062,322

Up $257,554 (+9.2%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $55,492,487Liabilities 2010: $16,495,201Net Assets 2010: $38,997,2862010Assets 2011: $58,409,947Liabilities 2011: $15,246,867Net Assets 2011: $43,163,0802011Assets 2012: $60,941,349Liabilities 2012: $14,805,057Net Assets 2012: $46,136,2922012Assets 2013: $67,992,444Liabilities 2013: $17,216,504Net Assets 2013: $50,775,9402013Assets 2014: $91,352,144Liabilities 2014: $37,015,664Net Assets 2014: $54,336,4802014Assets 2015: $98,203,185Liabilities 2015: $41,067,670Net Assets 2015: $57,135,5152015Assets 2016: $100,322,356Liabilities 2016: $40,892,086Net Assets 2016: $59,430,2702016Assets 2017: $104,663,316Liabilities 2017: $40,948,036Net Assets 2017: $63,715,2802017Assets 2018: $106,612,046Liabilities 2018: $40,950,919Net Assets 2018: $65,661,1272018Assets 2019: $104,114,864Liabilities 2019: $40,921,366Net Assets 2019: $63,193,4982019Assets 2020: $104,842,913Liabilities 2020: $44,033,607Net Assets 2020: $60,809,3062020Assets 2021: $100,435,671Liabilities 2021: $37,822,692Net Assets 2021: $62,612,9792021Assets 2022: $93,884,575Liabilities 2022: $35,688,980Net Assets 2022: $58,195,5952022Assets 2023: $92,412,562Liabilities 2023: $32,870,136Net Assets 2023: $59,542,4262023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2016

Assets$100,322,356
Liabilities$40,892,086
Net Assets$59,430,270

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$80M$60M$40M$20M$0-$20MExpenses 2010: $48,723,6712010Expenses 2011: $52,998,4402011Expenses 2012: $54,838,7442012Expenses 2013: $56,526,5062013Revenue 2014: $61,727,686Expenses 2014: $59,148,412Net Income 2014: $2,579,2742014Revenue 2015: $63,801,583Expenses 2015: $60,996,815Net Income 2015: $2,804,7682015Revenue 2016: $65,747,384Expenses 2016: $62,685,062Net Income 2016: $3,062,3222016Revenue 2017: $68,162,101Expenses 2017: $64,980,562Net Income 2017: $3,181,5392017Revenue 2018: $65,891,701Expenses 2018: $64,541,554Net Income 2018: $1,350,1472018Revenue 2019: $61,344,151Expenses 2019: $63,872,370Net Income 2019: -$2,528,2192019Revenue 2020: $59,925,171Expenses 2020: $61,955,277Net Income 2020: -$2,030,1062020Revenue 2021: $66,606,198Expenses 2021: $67,136,863Net Income 2021: -$530,6652021Revenue 2022: $53,858,401Expenses 2022: $54,906,498Net Income 2022: -$1,048,0972022Revenue 2023: $56,565,962Expenses 2023: $56,523,991Net Income 2023: $41,9712023Revenue 2024: $24,719,611Expenses 2024: $34,733,060Net Income 2024: -$10,013,4492024

Highlighted filing

2016

Revenue$65,747,384
Expenses$62,685,062
Net Income$3,062,322
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Apr 13, 2017
Return Version
2015v3.0
Gross Receipts
$66,477,138
Mission and Program Overview

Mission

To prepare students to attain academic, personal and professional excellence in a multicultural and global society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$65,369,748$70,659,712▲ $5,289,964
Savings and Temporary Cash Investments$14,199,687$13,228,544▼ $971,143
Investments in Publicly Traded Securities$13,076,196$12,618,854▼ $457,342
Accounts Receivable$1,446,451$1,416,491▼ $29,960
Pledges and Grants Receivable$1,281,841$1,312,135▲ $30,294
Prepaid Expenses and Deferred Charges$1,263,228$1,023,704▼ $239,524
Cash and Non-Interest-Bearing Accounts$262,704$23,936▼ $238,768
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities$0--
Investments Program Related$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Total Assets$98,203,185$100,322,356▲ $2,119,171
Other Assets Total$1,303,330$38,980▼ $1,264,350
Liabilities
Tax Exempt Bond Liabilities$32,215,047$31,608,577▼ $606,470
Mortgage Notes Payable Secured by Investment Property$5,191,846$5,363,775▲ $171,929
Accounts Payable and Accrued Expenses$2,168,606$2,510,512▲ $341,906
Other Liabilities$1,329,255$1,127,522▼ $201,733
Deferred Revenue$162,916$281,700▲ $118,784
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$41,067,670$40,892,086▼ $175,584
Net Assets / Fund Balance
Unrestricted Net Assets$43,755,089$46,529,814▲ $2,774,725
Permanently Rstr Net Assets$8,157,779$8,313,724▲ $155,945
Temporarily Rstr Net Assets$5,222,647$4,586,732▼ $635,915
Total Net Assets Fund Balance$57,135,515$59,430,270▲ $2,294,755
Total Liabilities and Net Assets / Fund Balance$98,203,185$100,322,356▲ $2,119,171

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$65,813,173$23,693,755$89,506,928
Equipment$2,427,790$12,377,630$14,805,420
Land$2,418,749-$2,418,749

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$13,062,407$155,945▼ $106,970$147,473$12,605,067
2014$12,437,675$751,683▲ $361,989$144,866$13,062,407
2013$10,717,706$91,915▲ $2,066,437$124,298$12,437,675
2012$9,511,367$107,468▲ $1,500,596$106,901$10,717,706
2011$10,146,915$119,835▼ $263,905$126,554$9,511,367
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-PresidentFT$297,148$198,464$495,612
-VP Global Programs and Professional StudiesFT$337,316$121,114$458,430
-VP Campus PlanningFT$157,650$118,670$276,320
-VP of FinanceFT$210,516$37,483$247,999
-VP of Institutional AdvancementFT$191,911$23,961$215,872
-VP Student AffairsFT$147,649$38,982$186,631
-VP Enrollment ManagementFT$154,973$19,589$174,562
-ProfessorFT$119,050$33,779$152,829
-Director of Information ServicesFT$115,632$14,140$129,772
-VP For Academic Affairs (begin 09/14/15)FT$44,217$27,976$72,193

Board Members and Trustees

NameTitle
-Chairman
-Vice Chair
-Trustee
-Trustee (began 12/10/15)
-Trustee (began 2/2016)

Highest Paid Contractors

ContractorServicesLocationCompensation
Gourmet Dining ServicesFood service285 Madison Ave, Madison, NJ 07940$1,884,207
Joseph A Natoli Construction IncConstruction Services293 Changebridge Rd, Pine Brook, NJ 07058$1,670,063
Allied barton Security ServicesSecurity ServicesPO Box 828854, Philadelphia, PA 19182$470,642
Fallon & PachecoArchitect120 Overlook terr, Bloomfield, NJ 07003$313,477
Ellucian IncSoftware Services62814 Collections Center Drive, Chicago, IL 60693$260,774
Revenue and Support

Revenue Composition

Contributions and Grants
$5,302,418
Program Service Revenue
$59,536,294
Investment Income
$743,926
Other Revenue
$164,746
All Other Contributions
$1,296,169
Change in Net Assets
$3,062,322

Audited Revenue Reconciliation

Revenue per Audited Statements
$48,418,680
Revenue Not Reported on Financial Statements
$17,328,704
Revenue Not Reported on Form 990
$-740,409
Other Revenue Adjustments
$17,304,379
Total Revenue per Audited Statements
$47,678,271
Total Revenue per Form 990
$65,747,384
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$26,788,423
Grants and Similar Amounts Paid$17,978,835
Other Expenses$17,708,650
Total Fundraising Expense$1,348,421
Professional Fundraising Fees$209,154

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,788,870$1,658,186$359,530$18,806,586
Grants to Domestic Individuals$17,978,835--$17,978,835
Depreciation Depletion$3,339,334$235,663$25,941$3,600,938
Other Employee Benefits$2,617,190$340,634$102,026$3,059,850
Office Expenses$2,126,199$151,991$88,763$2,366,953
Current Officers, Directors, Trustees, and Key Employees$866,656$896,028$364,935$2,127,619
Fees for Services Other$1,209,959$808,765$0$2,018,724
Occupancy$1,446,872$102,109$11,240$1,560,221
Payroll Taxes$1,260,613$138,190$35,156$1,433,959
Interest-$1,422,021-$1,422,021
Pension Plan Contributions$1,222,950$114,830$22,629$1,360,409
Information Technology$998,593$70,473$7,757$1,076,823
Travel$706,929$33,733$14,143$754,805
Insurance$186,778$235,268-$422,046
Conferences and Meetings$269,331$55,497$93,598$418,426
All Other Expenses$186,300$124,706$0$311,006
Fees for Services Professional Fundraising--$209,154$209,154
Other Expenses$62,345$138,580$6,294$207,219
Fees for Services Accounting-$103,815-$103,815
Fees for Services Legal-$65,259-$65,259
Advertising$36,542$2,789$50$39,381
Fees for Service Investment Mgmnt Fees-$24,325-$24,325
Total Functional Expenses$54,587,799$6,748,842$1,348,421$62,685,062

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$62,685,062
Total Expenses per Audited Statements$45,383,516
Expenses per Audited Statements$45,356,358
Expenses Not Reported on Financial Statements$17,328,704
Other Expense Adjustments$17,304,379
Expenses Not Reported on Form 990$27,158
International Activity

International Summary

Offices
0
Employees
0
Spending
$30,617

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram ServicesStudent recruitment00$22,800
Middle East and North AfricaProgram Servicesstudent recruitment00$4,850
North America (Canada & Mexico only)Program Servicesstudent recruitment & conference00$1,351
Central America and the CaribbeanProgram ServicesStudent Recruitement00$1,055
Europe (Including Iceland and Greenland)Program ServicesStudent Recruitment00$370
South AmericaProgram Servicesstudent recruitment & conference00$191
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$209,154
Fundraising Direct Expenses$39,977
Fundraising Gross Income$19,682

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$56,750$19,682$13,253$6,429
Event 2-$0-$0
Total Events$56,750$19,682$39,977$-20,295
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Owned by husband of trustee, Jacquie Colganrental of propertyNo$300,947

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Obligations$537,696
Accrued Retirement Benefit Obligation$360,435
Conditional Asset Retirement Obligation$229,391

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANJ Educational Facilities authority2013-05-13$32,267,000Construction of new dormitory, refunding prior issue

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$32,284,179$7,020,516$658,423$548,758

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 1A Delegate broad authority to A committee

The Executive Committee shall consist of all officers of the Board of Trustees and Chairpersons of all standing committees. When the Chairperson of a standing committee is unable to attend an Executive Committee meeting, the Vice Chairperson of that standing committee, who may attend in the Chairperson's place, shall have for that meeting all of the powers of an Executive Committee member and shall be counted for the purpose of establishing a quorum. The President of the College shall serve as an ex officio member with vote. During the period between meetings of the Board of Trustees, this committee shall exercise all of the powers of the Board of Trustees at such time as the Board is not in session except to elect members of the Board, amend these Bylaws, remove from office, or any other matters specifically reserved to itself by the Board. It shall report all action at the next regular meeting of the Board of Trustees. This committee shall be responsible for long range planning policies for the College and for including in this process the various constituencies of the College; and shall cause periodic management review to assure efficient and effective policy implementation, good administrative practice and open communication throughout the academic community.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The vice president of Finance and Administration will review a complete copy of the Form 990 with the Board of trustees prior to filing with the IRS. management and the organization's tax consultants will also present a complete copy of the Form 990 to the Audit Committee for its review before filing with the IRS.

Form 990, Part VI, Line 12C Conflict of interest policy

Under Chapter II, Article G of the College bylaws the Board of Trustees are covered by the conflict of interest policy. In general a conflict can occur in two cases. First, if there is an existing or potential financial or other interest that impairs or appears to impair the trustees independent unbiased judgment. Second, if a family member or organization in which the Trustee has a controlling interest has an relationship with the College that would impair the unbiased and independent judgment of the trustee. Conflicts would be reviewed by the Board of Trustees. There is a required recusal from voting in which a conflict occurs.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

Compensation for the President is reviewed by the Compensation Committee and also reviewed by the Board in closed session. The College prepares a study of comparable positions based on data obtained by the College and University Personnel Association. Documentation of deliberations & decisions are documented by minutes. This process was last undertaken in 2016.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

Compensation for the Officers is reviewed by the President, Board of Trustees Chairman and the Executive Committee. The College prepares a study of comparable positions based on data obtained by the College and University Personnel Association. This process was last undertaken in 2016.

Form 990, Part VI, Line 19 Required documents available to the public

The organization provides its governing documents, conflict of interest policy and financial statements to the public upon request.

Form 990, Part VIII, Line 11D Other Miscellaneous Revenue

Misc - Total Revenue: 53572, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 53572;

Filing and Contact Details

Filer

Filer Name
Bloomfield College
EIN
22-1494428
Phone
9737489000
Address
467 FRANKLIN STREET, BLOOMFIELD, NJ 07003

Signing Officer

Name
Howard C Buxbaum
Title
VP of Finance
Signed
2017-04-13
Discuss with paid preparer
Yes

Organization Details

Formed
1868
Legal Domicile
Nj
Voting Board Members
31
Independent Board Members
29
Employees
1,030
Volunteers
26

Preparer

Firm
Crowe Horwath Llp
Address
488 Madison Avenue, Floor 3, New York, NY 10022-5702
Preparer
Rachel Spurlock
Phone
2125725500
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Writeoff of pledges - -27158;

Financial Statement Notes

Schedule D, Part V, Line 4 Intended uses of endowment funds

The endowment consists of approximately 95 individual funds established for a variety of purposes (scholarships and program support). It includes both donor-restricted funds and funds designated by the Board of Trustees to function as endowments. The College has adopted investment and spending policies for endowment assets that provide a predictable stream of funding to programs supported by its endowment funds while also maintaining the purchasing power of those endowment assets over the long-term. The College has a policy of appropriating for distribution each year 4% of its endowment fund's average fair value of the average of the prior twelve quarters preceding the fiscal year in which the distribution is planned.

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The college is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and a similar provision of the new jersey state income tax laws. Accordingly, no provision for income taxes has been reflected in the accompanying financial statements. The college has no unrecognized tax benefits at june 30, 2016 and 2015. The college recognizes interest and penalties associated with tax matters as operating expenses and includes accrued interest and penalties with accrued expenses in the statements of financial position. There were no interest or penalties paid for the years ended june 30, 2016 and 2015.

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

scholarships - 17304379

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Writeoff of pledges - 27158

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

Scholarships - 17304379

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IRS990/Desc0Bloomfield college is an independent college historically related to the Presbyterian church (u.s.a.). located in the New Jersey-New York metropolitan region, the college offers academic programs leading to the bachelor of arts and bachelor of science degrees. The mission of Bloomfield college is: to prepare students to attain academic, personal and professional excellence in a multicultural and global society. Programs of study are rooted in the liberal arts, and assist students in obtaining the skills, knowledge, and values they need to become empowered individuals engaged in renewing themselves, their relationships, their workplaces, and their communities. The Fall 2015 student body was approximately 1,978 students. The undergraduate student body is 63.8% female, 50.1% African American, 26.6% Hispanic, and 9.7% White. Many Bloomfield College students are first generation college students, or are professionals seeking to keep pace with a changing market place. As of the Fall 2015, 627 students reside on campus. In the Fall of 2015, Bloomfield College enrolled 660 new freshman and transfer students; 425 of these new students were full-time traditional undergraduate freshmen. About 99% of freshmen and 93% of continuing students receive some form of aid. Aid is distributed as: 67% grants, 24% student loans, 6% parental loans and 3% jobs. A total of 416 enrolled freshmen were judged to have need, and 412 of these were offered aid. Scholarships available for: academics, athletics, leadership, alumni affiliation, religious affiliation. As of the Fall 2015, the faculty was comprised of 73 full-time professors (28 male, 45 female), plus 128 adjunct professors. The administration and staff (minus faculty) is comprised of 272 full and part-time employees. Many of the faculty and administration are national leaders in scholarship, developing innovative ways to meet the intellectual, social and demographic changes in society. Bloomfield college offers over 60 majors and areas of concentration as well as other special learning opportunities such honors programs and study abroad. In addition to the undergraduate curriculum, we also have a large non-credit continuing education program with our office of international training and professional studies (ITPS). ITPS offers online certificate programs for the career oriented student. They also have customized corporate courses. The American language center has year round ESL classes for those looking to improve their English skills. in addition, they are linked globally with many schools and universities for training of international students in English, nursing, education, hospitality, and other fields of study.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$24.7$34.7$10.0
2023Summary only. Only limited summary data is available for this year.$92.4$32.9$59.5$56.6$56.5$0.04
2022Summary only. Only limited summary data is available for this year.$93.9$35.7$58.2$53.9$54.9$1.05
2021Summary only. Only limited summary data is available for this year.$100$37.8$62.6$66.6$67.1$0.53
2020Summary only. Only limited summary data is available for this year.$105$44.0$60.8$59.9$62.0$2.03
2019Summary only. Only limited summary data is available for this year.$104$40.9$63.2$61.3$63.9$2.53
2018Summary only. Only limited summary data is available for this year.$107$41.0$65.7$65.9$64.5$1.35
2017Summary only. Only limited summary data is available for this year.$105$40.9$63.7$68.2$65.0$3.18
2016Detailed filing. Detailed filing data is available for this year.$100$40.9$59.4$65.7$62.7$3.06
2015Summary only. Only limited summary data is available for this year.$98.2$41.1$57.1$63.8$61.0$2.80
2014Summary only. Only limited summary data is available for this year.$91.4$37.0$54.3$61.7$59.1$2.58
2013Summary only. Only limited summary data is available for this year.$68.0$17.2$50.8$56.5
2012Summary only. Only limited summary data is available for this year.$60.9$14.8$46.1$54.8
2011Summary only. Only limited summary data is available for this year.$58.4$15.2$43.2$53.0
2010Summary only. Only limited summary data is available for this year.$55.5$16.5$39.0$48.7