Civic Intelligence

The Monroe Foundation Inc

990 • Fiscal year 2019 • EIN 22-3236708

Sep 01, 2018 to Aug 31, 2019 • Filed on Jul 13, 2020

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

33rd percentile

0.02x

Higher debt load relative to assets than 33% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

59th percentile

0.13x

Higher debt load relative to revenue than 59% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Net Margin

62nd percentile

7.9%

Higher net margin than 62% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Asset Growth

31st percentile

-1.1%

Faster asset growth than 31% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2019

Revenue Growth

11th percentile

-22%

Faster revenue growth than 11% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2019

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Down

$1,785,104

Down $39,831 (-2.2%) from 2017

Net Assets

Up

$1,751,578

Up $27,375 (+1.6%) from 2017

Liabilities

Down

$33,526

Down $67,206 (-67%) from 2017

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin62nd percentile

Revenue

Down

$248,869

Down $157,559 (-39%) from 2017

Expenses

Down

$229,175

Down $5,687 (-2.4%) from 2017

Net Income

Down

$19,694

Down $151,872 (-89%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth31st 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

2019

Assets$1,785,104
Liabilities$33,526
Net Assets$1,751,578
Open 2019 Filing

Operations Trend

Revenue Growth11th 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

2019

Revenue$248,869
Expenses$229,175
Net Income$19,694
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2018 to Aug 31, 2019
Signed
Jul 13, 2020
Return Version
2018v3.2
Gross Receipts
$248,869
Mission and Program Overview

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,766,072$1,656,034▼ $110,038
Savings and Temporary Cash Investments$38,104$129,070▲ $90,966
Total Assets$1,804,176$1,785,104▼ $19,072
Liabilities
Accounts Payable and Accrued Expenses$22,473$33,526▲ $11,053
Total Liabilities$22,473$33,526▲ $11,053
Net Assets / Fund Balance
Unrestricted Net Assets$1,781,703$1,751,578▼ $30,125
Total Net Assets Fund Balance$1,781,703$1,751,578▼ $30,125
Total Liabilities and Net Assets / Fund Balance$1,804,176$1,785,104▼ $19,072
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Olha PaluchDirector
Richard HarrisDirector
Stephen JeromeDirector
Marc JeromePres./Director
Norman HimmelfarbV. Pres./Director
Quay WatkinsSecretary/di
Olesia TiagiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$24,248
Program Service Revenue
$0
Investment Income
$36,526
Other Revenue
$188,095
All Other Contributions
$24,248
Change in Net Assets
$19,694

Audited Revenue Reconciliation

Revenue per Audited Statements
$248,869
Revenue Not Reported on Form 990
$-71,909
Total Revenue per Audited Statements
$176,960
Total Revenue per Form 990
$248,869
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$114,639
Other Expenses$114,536
Total Fundraising Expense$46,647
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$114,639--$114,639
Fees for Services Legal-$24,292-$24,292
Fees for Services Accounting-$17,331-$17,331
Fees for Service Investment Mgmnt Fees-$17,090-$17,090
Advertising--$9,255$9,255
Insurance-$4,119-$4,119
Other Expenses-$896$8,437$896
Office Expenses-$127-$127
Total Functional Expenses$114,639$67,889$46,647$229,175

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$229,175
Expenses per Audited Statements$212,085
Total Expenses per Audited Statements$212,085
Expenses Not Reported on Financial Statements$17,090
Other Expense Adjustments$17,090
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$188,095
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dinner$188,095$188,095-$188,095
Total Events$188,095$188,095-$188,095
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
2020-07-13
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 -17,090 investment expense reducing 0 income on f/s 17,090”

Financial Statement Notes

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

“Investment expenses included 0 in net investment income -17,090”

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

“Investment expense reducing 0 income on f/s 17,090”

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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/ExplanationTxt1INVESTMENT EXPENSE REDUCING 0 INCOME ON F/S 17,090
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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.
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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 -17,090 INVESTMENT EXPENSE REDUCING 0 INCOME ON F/S 17,090
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/PreparerFirmGrp/PreparerFirmEIN0113335534
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/PreparationDt02020-07-13
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ReturnHeader/TaxPeriodBeginDt02018-09-01
ReturnHeader/TaxPeriodEndDt02019-08-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,785,104
Liabilities
$33,526
Net assets
$1,751,578
Revenue
$248,869
Expenses
$229,175
Net income
$19,694
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