Charles T King Student Loan Fund

“Prior to filing, the form 990 is reviewed by the organization's officer responsible for coordinating the preparation of the form with the paid preparer. After review of the intial draft of the return, the officer forwards a copy to the full board prior to filing. A board officer authorizes the paid preparer to electronically file the 990.”

“Board members annually review and sign off as having or not having a conflict of interest.”

“The organization's governing documents and form 990 are made available to the public upon request. The form 990 can also be found on several publicly-accessible websites.”

“The student loan fund was established over eighty years ago to help millburn township students further their educational goals. Renamed in 1974 to honor dr. Charles t. King, who retired as superintendent of schools after 27 years of service in the system, the fund is sponsored by the millburn township conference of parents and teachers. Due to the tremendous increase in college tuition, the fund plays an important role in helping to finance students' postsecondary school educations. The loans are need-based and currently interest-free. More than 700 students have received them to date. The fund is maintained by personal and business contributions from within the community. Through the generosity of our residents and businesses, over 2.5 million in loans have been made to students throughout the years. The loans are due upon graduation and by "paying it forward" the fund is continually replenished by past recipients to support students in the future. Loans are renewable for four years of full time studies and repayable upon completion of all studies. As of june 30, 2025, there were 92 loans outstanding with an average balance of 7,400.”