Civic Intelligence

Raritan Valley Community College Foundation

EIN 23-7138731 • 501(c)3 • Somerville, NJ

Profile

Please see Schedule O.

PO Box 3300Somerville, NJ 08876

rvccfoundation.org/app/index.jsp

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

15th percentile

0.01x

Higher debt load relative to assets than 15% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

17th percentile

0.02x

Higher debt load relative to revenue than 17% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2024

Net Margin

77th percentile

22%

Higher net margin than 77% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

96th percentile

$475,440

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 27.1% of source-year revenue.

NTEE B • $5M-$10M nonprofits • Source year 2024

Asset Growth

56th percentile

6.6%

Faster asset growth than 56% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

86th percentile

67%

Faster revenue growth than 86% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$5,320,769

Up $329,898 (+6.6%) from 2023

Liabilities

Down

$33,195

Down $23,799 (-42%) from 2023

Net Assets

Up

$5,287,574

Up $353,697 (+7.2%) from 2023

Revenue

Up

$1,753,915

Up $703,983 (+67%) from 2023

Expenses

Up

$1,373,386

Up $177,777 (+15%) from 2023

Net Income

Up

$380,529

Up $526,206 (+361%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2010: $2,141,795Liabilities 2010: $44,332Net Assets 2010: $2,097,4632010Assets 2011: $2,449,438Liabilities 2011: $58,463Net Assets 2011: $2,390,9752011Assets 2012: $3,423,634Liabilities 2012: $62,724Net Assets 2012: $3,360,9102012Assets 2014: $3,880,186Liabilities 2014: $71,475Net Assets 2014: $3,808,7112014Assets 2015: $4,224,378Liabilities 2015: $341,397Net Assets 2015: $3,882,9812015Assets 2016: $4,615,949Liabilities 2016: $347,722Net Assets 2016: $4,268,2272016Assets 2017: $4,268,921Liabilities 2017: $103,447Net Assets 2017: $4,165,4742017Assets 2018: $5,076,893Liabilities 2018: $362,018Net Assets 2018: $4,714,8752018Assets 2019: $4,979,058Liabilities 2019: $301,689Net Assets 2019: $4,677,3692019Assets 2020: $4,471,026Liabilities 2020: $65,432Net Assets 2020: $4,405,5942020Assets 2021: $5,718,188Liabilities 2021: $94,782Net Assets 2021: $5,623,4062021Assets 2022: $4,929,209Liabilities 2022: $49,737Net Assets 2022: $4,879,4722022Assets 2023: $4,990,871Liabilities 2023: $56,994Net Assets 2023: $4,933,8772023Assets 2024: $5,320,769Liabilities 2024: $33,195Net Assets 2024: $5,287,5742024

Highlighted filing

2024

Assets$5,320,769
Liabilities$33,195
Net Assets$5,287,574

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0MExpenses 2010: $559,5082010Expenses 2011: $749,2542011Expenses 2012: $615,9552012Revenue 2014: $762,223Expenses 2014: $968,495Net Income 2014: -$206,2722014Revenue 2015: $959,570Expenses 2015: $742,210Net Income 2015: $217,3602015Revenue 2016: $1,297,508Expenses 2016: $897,889Net Income 2016: $399,6192016Revenue 2017: $1,006,173Expenses 2017: $1,160,241Net Income 2017: -$154,0682017Revenue 2018: $1,890,454Expenses 2018: $1,251,408Net Income 2018: $639,0462018Revenue 2019: $1,145,157Expenses 2019: $1,273,433Net Income 2019: -$128,2762019Revenue 2020: $1,078,858Expenses 2020: $1,387,971Net Income 2020: -$309,1132020Revenue 2021: $1,479,296Expenses 2021: $890,897Net Income 2021: $588,3992021Revenue 2022: $959,485Expenses 2022: $1,074,825Net Income 2022: -$115,3402022Revenue 2023: $1,049,932Expenses 2023: $1,195,609Net Income 2023: -$145,6772023Revenue 2024: $1,753,915Expenses 2024: $1,373,386Net Income 2024: $380,5292024

Highlighted filing

2024

Revenue$1,753,915
Expenses$1,373,386
Net Income$380,529

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.32$0.03$5.29$1.75$1.37$0.38
2023Detailed filing. Detailed filing data is available for this year.$4.99$0.06$4.93$1.05$1.20$0.15
2022Detailed filing. Detailed filing data is available for this year.$4.93$0.05$4.88$0.96$1.07$0.12
2021Detailed filing. Detailed filing data is available for this year.$5.72$0.09$5.62$1.48$0.89$0.59
2020Detailed filing. Detailed filing data is available for this year.$4.47$0.07$4.41$1.08$1.39$0.31
2019Detailed filing. Detailed filing data is available for this year.$4.98$0.30$4.68$1.15$1.27$0.13
2018Detailed filing. Detailed filing data is available for this year.$5.08$0.36$4.71$1.89$1.25$0.64
2017Detailed filing. Detailed filing data is available for this year.$4.27$0.10$4.17$1.01$1.16$0.15
2016Detailed filing. Detailed filing data is available for this year.$4.62$0.35$4.27$1.30$0.90$0.40
2015Detailed filing. Detailed filing data is available for this year.$4.22$0.34$3.88$0.96$0.74$0.22
2014Detailed filing. Detailed filing data is available for this year.$3.88$0.07$3.81$0.76$0.97$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.42$0.06$3.36$0.62
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.45$0.06$2.39$0.75
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.14$0.04$2.10$0.56
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 7, 2025
Return Version
2023v6.0
Gross Receipts
$2,255,655
Mission and Program Overview

Mission

Please see Schedule O.

The Mission of the Foundation is to raise funds above and beyond the public tuiton sources and to promote awareness of the institution. The Foundation directs these funds to assist the College in providing affordable, accessible and quality educational and cultural experiences to the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,589,857$4,009,204▲ $419,347
Savings and Temporary Cash Investments$981,126$970,384▼ $10,742
Pledges and Grants Receivable$382,239$302,918▼ $79,321
Cash and Non-Interest-Bearing Accounts$33,494$34,108▲ $614
Total Assets$4,990,871$5,320,769▲ $329,898
Other Assets Total$4,155$4,155→ $0
Liabilities
Other Liabilities$41,078$16,722▼ $24,356
Accounts Payable and Accrued Expenses$15,916$16,473▲ $557
Total Liabilities$56,994$33,195▼ $23,799
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,859,688$5,245,047▲ $385,359
Net Assets Without Donor Restrictions$74,189$42,527▼ $31,662
Total Net Assets Fund Balance$4,933,877$5,287,574▲ $353,697
Total Liabilities and Net Assets / Fund Balance$4,990,871$5,320,769▲ $329,898

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,168,273$37,876▲ $30,607$150,000$1,086,756
2022$1,138,316$21,020▲ $19,996$11,059$1,168,273
2021$1,134,564$-3,500▲ $12,752$5,500$1,138,316
2020$1,122,851$2,000▲ $14,593$4,880$1,134,564
2019$1,108,738$1,000▲ $19,863$6,750$1,122,851
Compensation and Service Providers

Employees

NameTitleOtherTotal
Dr Michael J McDonoughPresident$475,440$475,440
John TrojanTreasurer (VP of Finance and Facilities)$270,333$270,333
Michael MarionExecutive Director$208,904$208,904

Board Members and Trustees

NameTitle
Allan BoomerChair
Elissa SantoVice Chair
Alyssa DardenBoard member
Dan Van TranBoard member
David BunevichBoard member
Gene McCarthyBoard member
Joel F Reyes-GuzmanBoard member
Jomil LondonBoard member
Michael SchewertfegerBoard member
Parag S JategaonkarBoard Member
Patrick DelaneyBoard member
Raquel MuraBoard member
Sean FlemingBoard Member
Sebastian GalvezBoard member
Steven A ReichmanBoard member
Sandra FaragallaBoard member (student)
Zachary ColeBoard member (student)
Dr Michael J McDonough-
John Trojan-
Michael Marion-
Gary C WoodringAsst. Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,542,993
Program Service Revenue
$0
Investment Income
$210,922
Other Revenue
$0
All Other Contributions
$1,472,726
Change in Net Assets
$380,529

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table156$171,511Sale of Comparable Properties
Other Non Cash Contri Table11$8,929Cost
Other Non Cash Contri Table2$300Cost
Other Non Cash Contri Table1$200Cost
Total Noncash Contributions170$180,940-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,753,915
Revenue Not Reported on Form 990
$707,547
Total Revenue per Audited Statements
$2,461,462
Total Revenue per Form 990
$1,753,915
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,159,361
Other Expenses$214,025
Total Fundraising Expense$25,034
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$700,768--$700,768
Grants to Domestic Individuals$458,593--$458,593
Other Expenses$0$0$25,034$25,034
Fees for Service Investment Mgmnt Fees$0$18,314$0$18,314
Total Functional Expenses$1,330,038$18,314$25,034$1,373,386

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,717,547
Expenses per Audited Statements$1,373,386
Total Expenses per Form 990$1,373,386
Expenses Not Reported on Form 990$344,161
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Raritan Valley Community CollegeSomerville, NJ501(c)(3)Student Programs$700,768
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$64,973
Fundraising Gross Income$64,973
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Classic 2024$118,660$62,560$62,560$0
Golf Classic 2023$16,580$2,413$2,413$0
Total Events$135,240$64,973$64,973$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$16,722
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 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
Filing and Contact Details

Filer

Filer Name
Raritan Valley Community College Foundation
EIN
23-7138731
Phone
9085261200
Address
PO Box 3300, Somerville, NJ 08876

Signing Officer

Name
John Trojan
Title
Treasurer (RVCC VP Finance & Facili
Phone
9085261200
Signed
2025-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Trojan
Formed
1971
Legal Domicile
Nj
Voting Board Members
20
Independent Board Members
18
Employees
0
Volunteers
120

Preparer

Firm
Suplee Clooney and Company
Address
308 E Broad St, Westfield, NJ 07090
Preparer
Robert J Butvilla
Phone
9087899300
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The Foundation Finance Committee reviews the 990 after the fact.

Pt VI, Line 19

Documents are provided upon receipt of a written request.

Pt VI, Line 12C

Conflicts documented and discussed at Board meetings.

Pt VI, Line 15A

Raritan Valley Community Colleges Exec. Director of Human Resources provides objective data to the Board regarding any officers, key employees and Executive Directors compensation. From time to time, the Board members will speak with colleagues at other colleges.

Pt VI, Line 15B

Same explanation as above for pt vi, line 15a

Other

Pt III, Line 1 - The mission of the Foundation is to raise funds above and beyond public tuition sources and to promote awareness of the institution. The Foundation directs these funds to assist the College in providing affordable, accessible and quality educational and cultural experiences to the community.

Other

Pt I, Line 1 continued: affordable, accessible and quality educational and cultural experiences to the community.

Financial Statement Notes

Pt V, Line 4

Endowment funds will be used for student scholarships and the student emergency fund (NORWESCAP Legacy), and to support the CRECER student club, the Holocaust Center, the Planetarium and the Theatre.

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