Civic Intelligence

The Monroe Foundation Inc

990 • Fiscal year 2024 • EIN 22-3236708

Sep 01, 2023 to Aug 31, 2024 • Filed on Jul 15, 2025

Organization ProfileN/A
145 Huguenot Street Suite 102New Rochelle, NY 10801

(646) 393-8352

Siviq Scores

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

Liabilities / Assets

70th percentile

0.22x

Higher debt load relative to assets than 70% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

2.02x

Higher debt load relative to revenue than 93% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

10th percentile

-29%

Higher net margin than 10% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2024

Asset Growth

66th percentile

12%

Faster asset growth than 66% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

16th percentile

-16%

Faster revenue growth than 16% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$2,810,302

Up $291,075 (+12%) from 2023

Net Assets

Up

$2,189,679

Up $306,652 (+16%) from 2023

Liabilities

Down

$620,623

Down $15,577 (-2.4%) from 2023

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin10th percentile

Revenue

Down

$307,205

Down $57,112 (-16%) from 2023

Expenses

Down

$396,581

Down $39,090 (-9.0%) from 2023

Net Income

Down

-$89,376

Down $18,022 (-25%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth66th 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

2024

Assets$2,810,302
Liabilities$620,623
Net Assets$2,189,679
Open 2024 Filing

Operations Trend

Revenue Growth16th 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

2024

Revenue$307,205
Expenses$396,581
Net Income-$89,376
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2023 to Aug 31, 2024
Signed
Jul 15, 2025
Return Version
2023v6.0
Gross Receipts
$390,909
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.

The monroe foundation assists deserving individuals in their presuit of higher education, emphasizing support of the underserved & veteran students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,001,765$2,383,727▲ $381,962
Intangible Assets$312,300$223,170▼ $89,130
Cash and Non-Interest-Bearing Accounts$112,486$144,382▲ $31,896
Land, Buildings, and Equipment, Net$63,029$45,565▼ $17,464
Accounts Receivable$27,925$0▼ $27,925
Prepaid Expenses and Deferred Charges$1,722$4,314▲ $2,592
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$2,519,227$2,810,302▲ $291,075
Other Assets Total$0$9,144▲ $9,144
Liabilities
Other Liabilities$611,143$601,744▼ $9,399
Accounts Payable and Accrued Expenses$25,057$18,879▼ $6,178
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$636,200$620,623▼ $15,577
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,883,027$2,189,679▲ $306,652
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$1,883,027$2,189,679▲ $306,652
Total Liabilities and Net Assets / Fund Balance$2,519,227$2,810,302▲ $291,075

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$33,315$31,767$65,082
Leasehold Improvements$12,250$12,250$24,500
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Stephen JeromePresident
Anthony CoschiganoDirector
Greg GonzalezDirector
Lauren RosenthalDirector
Manny TartaglioneDirector
Olha PaluchDirector
Scott SimonDirector
Olesia TiagiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$232,346
Program Service Revenue
$0
Investment Income
$57,943
Other Revenue
$16,916
All Other Contributions
$53,863
Change in Net Assets
$-89,376
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$290,034
Grants and Similar Amounts Paid$106,547
Total Fundraising Expense$61,305
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$106,547--$106,547
All Other Expenses-$13,477$50,628$64,105
Other Expenses-$62,959-$62,959
Occupancy-$58,295-$58,295
Office Expenses-$12,594$10,677$23,271
Fees for Services Accounting-$20,230-$20,230
Fees for Service Investment Mgmnt Fees-$15,547-$15,547
Insurance-$14,456-$14,456
Depreciation Depletion-$14,197-$14,197
Travel-$3,086-$3,086
Total Functional Expenses$106,547$228,729$61,305$396,581
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$178,483-$61,305-
Total Events$178,483-$61,305$-61,305
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Due to Related Party$329,205
Operating Lease Liability L/t$157,270
Operating Lease Liability S/t$115,269
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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, PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW FORM 990

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

Form 990, Part VI, Line 12C - Enforcement of Conflicts Policy

“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 occured.”

Form 990, Part VI, Line 15A - Compensation Process for Top Official

“No compensation is paid by the monroe foundation.”

Form 990, Part VI, Line 19 - Governing Documents Disclosure Explanation

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
The Monroe Foundation Inc
EIN
22-3236708
In Care Of
% STEPHEN JEROME
Phone
6463938352
Address
145 HUGUENOT STREET SUITE 102, NEW ROCHELLE, NY 10801

Signing Officer

Name
Stephen Jerome
Title
President
Phone
6463938352
Signed
2025-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Jerome
Formed
1993
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
5
Employees
0
Volunteers
12

Preparer

Firm
Wilkin & Guttenplan Pc
Address
1200 TICES LANE, EAST BRUNSWICK, NJ 08816
Preparer
S Klimcsak CPA
Phone
7328463000
Supplemental Narrative

Additional Explanations

FORM 990, PART 1, LINE 1 - ORGANIZATION'S 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.”

Form 990 Part IX Line 24 - Other Expenses

“Description:charitable contributions total expenses:10581 management and general:10581”

Form 990 Part IX Line 24 - Other Expenses

“Description:maintenance total expenses:2896 management and general:2896”

Form 990 Part IX Line 24 - Other Expenses

“Description:fundraising expenses total expenses:50628 fundraising:50628”

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IRS990/MissionDesc0THE 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.
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IRS990/ReconcilationRevenueExpnssAmt0-89376
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IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0TUITION ASSISTANCE
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Part I, Line 2 - Procedures for Monitoring the Use of Grant Funds THE 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/FormAndLineReferenceDesc0TUTION ASSISTANCE
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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,810,302
Liabilities
$620,623
Net assets
$2,189,679
Revenue
$307,205
Expenses
$396,581
Net income
-$89,376
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