Civic Intelligence

The Monroe Foundation Inc

990 • Fiscal year 2017 • EIN 22-3236708

Sep 01, 2016 to Aug 31, 2017 • Filed on Jul 11, 2018

Organization ProfileN/A
29 E Fordham RoadBronx, NY 10468

(646) 393-8352

Siviq Scores

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

Liabilities / Assets

40th percentile

0.06x

Higher debt load relative to assets than 40% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

69th percentile

0.25x

Higher debt load relative to revenue than 69% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Net Margin

91st percentile

42%

Higher net margin than 91% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Asset Growth

56th percentile

7.5%

Faster asset growth than 56% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

92nd percentile

96%

Faster revenue growth than 92% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$1,824,935

Up $127,695 (+7.5%) from 2016

Net Assets

Up

$1,724,203

Up $71,432 (+4.3%) from 2016

Liabilities

Up

$100,732

Up $56,263 (+127%) from 2016

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin91st percentile

Revenue

Up

$406,428

Up $199,141 (+96%) from 2016

Expenses

Down

$234,862

Down $14,113 (-5.7%) from 2016

Net Income

Up

$171,566

Up $213,254 (+512%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $2,225,534Liabilities 2011: $34,981Net Assets 2011: $2,190,5532011Assets 2012: $1,983,270Liabilities 2012: $20,077Net Assets 2012: $1,963,1932012Assets 2013: $1,816,853Liabilities 2013: $34,874Net Assets 2013: $1,781,9792013Assets 2014: $1,880,915Liabilities 2014: $38,372Net Assets 2014: $1,842,5432014Assets 2015: $1,702,473Liabilities 2015: $42,165Net Assets 2015: $1,660,3082015Assets 2016: $1,697,240Liabilities 2016: $44,469Net Assets 2016: $1,652,7712016Assets 2017: $1,824,935Liabilities 2017: $100,732Net Assets 2017: $1,724,2032017Assets 2019: $1,785,104Liabilities 2019: $33,526Net Assets 2019: $1,751,5782019Assets 2020: $1,905,110Liabilities 2020: $97,945Net Assets 2020: $1,807,1652020Assets 2021: $2,250,951Liabilities 2021: $113,200Net Assets 2021: $2,137,7512021Assets 2022: $1,965,085Liabilities 2022: $226,921Net Assets 2022: $1,738,1642022Assets 2023: $2,519,227Liabilities 2023: $636,200Net Assets 2023: $1,883,0272023Assets 2024: $2,810,302Liabilities 2024: $620,623Net Assets 2024: $2,189,6792024

Highlighted filing

2017

Assets$1,824,935
Liabilities$100,732
Net Assets$1,724,203
Open 2017 Filing

Operations Trend

Revenue Growth92nd percentile

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

$1.0M$500K$0-$500KRevenue 2011: $85,881Expenses 2011: $297,608Net Income 2011: -$211,7272011Revenue 2012: $56,587Expenses 2012: $318,841Net Income 2012: -$262,2542012Revenue 2013: $128,850Expenses 2013: $363,034Net Income 2013: -$234,1842013Revenue 2014: $174,648Expenses 2014: $264,274Net Income 2014: -$89,6262014Revenue 2015: $179,175Expenses 2015: $205,680Net Income 2015: -$26,5052015Revenue 2016: $207,287Expenses 2016: $248,975Net Income 2016: -$41,6882016Revenue 2017: $406,428Expenses 2017: $234,862Net Income 2017: $171,5662017Revenue 2019: $248,869Expenses 2019: $229,175Net Income 2019: $19,6942019Revenue 2020: $71,793Expenses 2020: $285,507Net Income 2020: -$213,7142020Revenue 2021: $269,677Expenses 2021: $374,738Net Income 2021: -$105,0612021Revenue 2022: $644,866Expenses 2022: $415,700Net Income 2022: $229,1662022Revenue 2023: $364,317Expenses 2023: $435,671Net Income 2023: -$71,3542023Revenue 2024: $307,205Expenses 2024: $396,581Net Income 2024: -$89,3762024

Highlighted filing

2017

Revenue$406,428
Expenses$234,862
Net Income$171,566
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2016 to Aug 31, 2017
Signed
Jul 11, 2018
Return Version
2016v3.1
Gross Receipts
$406,428
Mission and Program Overview

Mission

The monroe foundation assists deserving individuals in their persuit of higher education, emphasizing support of underserved and veteran students and others who are qualififed to attend college but who require additional financial assistance to persue or resume their education. The foundation seeks to help lift financial barriers which, if not addressed, may result in qualified students being unable to continue the path to the attainment of higher education credentials.

The monroe foundation was established to assist individuals in the pursuit of higher education, at the institution of their choice, and to further other important educational purposes. It accomplishes its mission by granting scholarships to needy students enrolled in institutions of higher education to help them defray the cost of tuition and participate in educational enrichment activities, and to reward academic achievement. The monroe foundation also provides grants to other worthy educational institutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,609,272$1,799,017▲ $189,745
Savings and Temporary Cash Investments$87,968$25,918▼ $62,050
Total Assets$1,697,240$1,824,935▲ $127,695
Liabilities
Accounts Payable and Accrued Expenses$44,469$100,732▲ $56,263
Total Liabilities$44,469$100,732▲ $56,263
Net Assets / Fund Balance
Unrestricted Net Assets$1,652,771$1,719,203▲ $66,432
Temporarily Rstr Net Assets-$5,000-
Total Net Assets Fund Balance$1,652,771$1,724,203▲ $71,432
Total Liabilities and Net Assets / Fund Balance$1,697,240$1,824,935▲ $127,695
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Fred BruckDirector
Stephen JeromeDirector
Marc JeromePres./Director
Norman HimmelfarbV. Pres./Director
Quay WatkinsSecretary/di
Michael AnastasioTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$71,194
Program Service Revenue
$0
Investment Income
$314,245
Other Revenue
$20,989
All Other Contributions
$22,219
Change in Net Assets
$171,566

Audited Revenue Reconciliation

Revenue per Audited Statements
$406,428
Revenue Not Reported on Form 990
$-88,983
Total Revenue per Audited Statements
$317,445
Total Revenue per Form 990
$406,428
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$165,440
Other Expenses$69,422
Total Fundraising Expense$11,268
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$165,440--$165,440
Fees for Services Accounting-$17,818-$17,818
Fees for Service Investment Mgmnt Fees-$16,838-$16,838
Fees for Services Legal-$15,406-$15,406
Other Expenses-$1,511$1,550$1,511
All Other Expenses-$891$196$1,087
Total Functional Expenses$165,440$58,154$11,268$234,862

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$246,013
Total Expenses per Form 990$234,862
Expenses per Audited Statements$218,024
Expenses Not Reported on Form 990$27,989
Expenses Not Reported on Financial Statements$16,838
Other Expense Adjustments$16,838
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$20,989
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dinner$69,964$20,989-$20,989
Total Events$69,964$20,989-$20,989
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
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, Page 6, Part VI, Line 2

“Stephen jerome marc jerome dir dir./pres. Family relationship”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is prepared by independent accountants, and is reviewed by the organization's president, treasurer, and outside legal counsel.”

Form 990, Page 6, Part VI, Line 12C

“Annually, each board member is required to disclose whether they had any transactions or interests during the year which would cause them not to be independent, or which would give rise to conflicts, with respect to the foundation. To date, no such instances have occurred.”

Form 990, Page 6, Part VI, Line 15A

“No compensation is paid by the monroe foundation.”

Form 990, Page 6, Part VI, Line 15B

“No compensation is paid by the monroe foundation.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
The Monroe Foundation Inc
EIN
22-3236708
Phone
6463938352
Address
29 E FORDHAM ROAD, BRONX, NY 10468

Signing Officer

Name
Stephen Jerome
Title
Director
Phone
7189336700
Signed
2018-07-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Jerome
Formed
1993
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
4
Employees
0

Preparer

Firm
Shapiro Goldstein Moses & Artuso Llp
Address
7600 JERICHO TPKE STE 200, WOODBURY, NY 11797
Preparer
Kenneth L Goldstein
Phone
5169320404
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The monroe foundation was established to assist individuals in the pursuit of higher education, at the institution of their choice, and to further other important educational purposes. It accomplishes its mission by granting scholarships to needy students enrolled in institutions of higher education to help them defray the cost of tuition and participate in educational enrichment activities, and to reward academic achievement. The monroe foundation also provides grants to other worthy educational institutions.”

Form 990, Part XI, Line 9

“Investment expenses included 0 in net investment income -16,838 donated support included in 0 revenue on f/s 27,989 direct fundraising expenses 0 included on f/s -27,989 investment expense reducing 0 income on f/s 16,838”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Investment expenses included 0 in net investment income -16,838 donated support included in 0 revenue on f/s 27,989”

Schedule D, Page 4, Part XII, Line 2D

“Direct fundraising expenses 0 included on f/s 27,989”

Schedule D, Page 4, Part XII, Line 4B

“Investment expense reducing 0 income on f/s 16,838”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INVESTMENT EXPENSES INCLUDED 0 IN NET INVESTMENT INCOME -16,838 DONATED SUPPORT INCLUDED IN 0 REVENUE ON F/S 27,989
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DIRECT FUNDRAISING EXPENSES 0 INCLUDED ON F/S 27,989
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2INVESTMENT EXPENSE REDUCING 0 INCOME ON F/S 16,838
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0TUITION ASSISTANCE
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0CASH
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION PAYS A PORTION OF THE TUITION COSTS FOR RECIPIENTS ATTENDING INSTITUTIONS OF HIGHER EDUCATION. FOR STUDENTS ATTENDING MONROE COLLEGE, A CHECK IS MADE PAYABLE TO THE STUDENT AND IS DELIVERED TO THE BURSAR'S OFFICE, WHERE THE STUDENT ENDORSES IT AND GIVES IT BACK TO THE BURSAR. FOR STUDENTS WHO DO NOT ATTEND MONROE COLLEGE, THE TUITION ASSISTANCE IS EITHER PAYABLE TO, AND REMITTED DIRECTLY TO, THE INST. OF HIGHER EDUCATION, THUS ENSURING THAT FUNDS ARE USED FOR THEIR INTENDED PURPOSE, OR IT IS REMITTED TO THE STUDENT WITH A LETTER RESTRICTING ITS USE FOR HIGHER EDUCATIONAL PURPOSES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MONROE FOUNDATION WAS ESTABLISHED TO ASSIST INDIVIDUALS IN THE PURSUIT OF HIGHER EDUCATION, AT THE INSTITUTION OF THEIR CHOICE, AND TO FURTHER OTHER IMPORTANT EDUCATIONAL PURPOSES. IT ACCOMPLISHES ITS MISSION BY GRANTING SCHOLARSHIPS TO NEEDY STUDENTS ENROLLED IN INSTITUTIONS OF HIGHER EDUCATION TO HELP THEM DEFRAY THE COST OF TUITION AND PARTICIPATE IN EDUCATIONAL ENRICHMENT ACTIVITIES, AND TO REWARD ACADEMIC ACHIEVEMENT. THE MONROE FOUNDATION ALSO PROVIDES GRANTS TO OTHER WORTHY EDUCATIONAL INSTITUTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1STEPHEN JEROME MARC JEROME DIR DIR./PRES. FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS PREPARED BY INDEPENDENT ACCOUNTANTS, AND IS REVIEWED BY THE ORGANIZATION'S PRESIDENT, TREASURER, AND OUTSIDE LEGAL COUNSEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY, EACH BOARD MEMBER IS REQUIRED TO DISCLOSE WHETHER THEY HAD ANY TRANSACTIONS OR INTERESTS DURING THE YEAR WHICH WOULD CAUSE THEM NOT TO BE INDEPENDENT, OR WHICH WOULD GIVE RISE TO CONFLICTS, WITH RESPECT TO THE FOUNDATION. TO DATE, NO SUCH INSTANCES HAVE OCCURRED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO COMPENSATION IS PAID BY THE MONROE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO COMPENSATION IS PAID BY THE MONROE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7INVESTMENT EXPENSES INCLUDED 0 IN NET INVESTMENT INCOME -16,838 DONATED SUPPORT INCLUDED IN 0 REVENUE ON F/S 27,989 DIRECT FUNDRAISING EXPENSES 0 INCLUDED ON F/S -27,989 INVESTMENT EXPENSE REDUCING 0 INCOME ON F/S 16,838
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN JEROME
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIR.
ReturnHeader/BusinessOfficerGrp/PhoneNum07189336700
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-07-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE MONROE FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MONR
ReturnHeader/Filer/EIN0223236708
ReturnHeader/Filer/PhoneNum06463938352
ReturnHeader/Filer/USAddress/AddressLine1Txt029 E FORDHAM ROAD
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHAPIRO GOLDSTEIN MOSES & ARTUSO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07600 JERICHO TPKE STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WOODBURY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
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ReturnHeader/PreparerPersonGrp/PhoneNum05169320404
ReturnHeader/PreparerPersonGrp/PreparationDt02018-07-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNETH L GOLDSTEIN
ReturnHeader/ReturnTs02018-07-13T14:23:37-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-09-01
ReturnHeader/TaxPeriodEndDt02017-08-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,824,935
Liabilities
$100,732
Net assets
$1,724,203
Revenue
$406,428
Expenses
$234,862
Net income
$171,566
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.81$0.62$2.19$0.31$0.40$0.09
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.52$0.64$1.88$0.36$0.44$0.07
2022Detailed filing. Detailed filing data is available for this year.$1.97$0.23$1.74$0.64$0.42$0.23
2021Detailed filing. Detailed filing data is available for this year.$2.25$0.11$2.14$0.27$0.37$0.11
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.91$0.10$1.81$0.07$0.29$0.21
2019Detailed filing. Detailed filing data is available for this year.$1.79$0.03$1.75$0.25$0.23$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.82$0.10$1.72$0.41$0.23$0.17
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.70$0.04$1.65$0.21$0.25$0.04
2015Summary only. Only limited summary data is available for this year.$1.70$0.04$1.66$0.18$0.21$0.03
2014Summary only. Only limited summary data is available for this year.$1.88$0.04$1.84$0.17$0.26$0.09
2013Summary only. Only limited summary data is available for this year.$1.82$0.03$1.78$0.13$0.36$0.23
2012Summary only. Only limited summary data is available for this year.$1.98$0.02$1.96$0.06$0.32$0.26
2011Summary only. Only limited summary data is available for this year.$2.23$0.03$2.19$0.09$0.30$0.21