Civic Intelligence

Forrestal Agricultural Corporation

EIN 36-3625291 • 501(c)3 • Princeton, NJ

Profile

Holding Company for investments for the benefit of The Trustees of Princeton University, an educational institution exempt from tax under IRC Section 501 (c)(3).

701 Carnegie Center 445Princeton, NJ 08540
Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2024

Top Officer Pay

100th percentile

$14,662,060

Higher top officer pay than 100% of similar nonprofits.

NTEE B • <$500k nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Revenue Growth

2nd percentile

-100%

Faster revenue growth than 2% of similar nonprofits.

NTEE B • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Down

$0

Down $339,814,007 (-100%) from 2022

Liabilities

Down

$0

Down $45,148,000 (-100%) from 2022

Net Assets

Down

$0

Down $294,666,007 (-100%) from 2022

Revenue

Down

$0

Down $297,459,521 (-100%) from 2022

Expenses

Down

$0

Down $378,781,591 (-100%) from 2022

Net Income

Up

$0

Up $81,322,070 (+100%) from 2022

Trend Graphs

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2019: $389,506,585Liabilities 2019: $0Net Assets 2019: $389,506,5852019Assets 2020: $368,119,233Liabilities 2020: $0Net Assets 2020: $368,119,2332020Assets 2021: $569,693,370Liabilities 2021: $0Net Assets 2021: $569,693,3702021Assets 2022: $339,814,007Liabilities 2022: $45,148,000Net Assets 2022: $294,666,0072022Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2024

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$400M$200M$0-$200MRevenue 2019: $69,775,583Expenses 2019: $63,286,199Net Income 2019: $6,489,3842019Revenue 2020: $43,096,782Expenses 2020: $33,100,844Net Income 2020: $9,995,9382020Revenue 2021: $23,098,613Expenses 2021: $42,559,415Net Income 2021: -$19,460,8022021Revenue 2022: $297,459,521Expenses 2022: $378,781,591Net Income 2022: -$81,322,0702022Revenue 2024: $0Expenses 2024: $0Net Income 2024: $02024

Highlighted filing

2024

Revenue$0
Expenses$0
Net Income$0

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$0
Mission and Program Overview

Mission

Holding Company for investments for the benefit of The Trustees of Princeton University, an educational institution exempt from tax under IRC Section 501 (c)(3).

Balance Sheet Detail
LineBeginningEndChange
Assets
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Other Assets Total$0$0→ $0
Total Assets$0$0→ $0
Liabilities
Other Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$0$0→ $0
Compensation and Service Providers

Board Members and Trustees

NameTitle
Andrew GoldenPresident, Trustee (THROUGH 6/30/24)
James MatteoVice President, Trustee
Jonathan EricksonSecretary, Trustee
Kenneth MolinaroTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 12A Conflict of Interest

The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's conflict of interest policy.

Form 990, Part VI, Line 13 Whistleblower Policy

The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's whistleblower policy.

Form 990, Part VI, Line 14 Document Retention & Destruction Policy

The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's document retention and destruction policy.

Form 990, Part VI, Line 16B Joint Venture Policy

The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's joint venture policy.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

The Trustees of Princeton University, a related entity that controls this organization, has delegated to the Princeton University Investment Company Board of Directors the annual election of the organization's board of directors, who then selects and approves the organization's officers.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The Form 990 is prepared by Princeton University's Office of Finance & Treasury, a related entity and is reviewed by management. Prior to filing the tax return, a copy of the complete form 990 is electronically sent to each member of the governing body allowing time for review.

Form 990, Part VI, Line 12C Conflict of interest policy

On an annual basis, all trustees are provided with a copy of the conflict of interest policy for trustees and a statement of compliance affirmation which they are required to sign and return to the office of the vice president and secretary. Where questions arise about potential conflicts of interest or the possible perception of such conflicts, the policy requires that those issues be brought to the chair of the trustee committee on compensation for resolution. On an annual basis, the vice president of human resources, the dean of the faculty, and the director of the princeton plasma physics laboratory ("pppl") are responsible for ensuring compliance with the university's conflict of interest policies by all employees hired through their respective units. All office heads, managers of departments, programs, centers, and institutes, and academic department chairs are reminded of their obligation to ensure compliance in their functional areas. All employees are required to review the conflict of interest policies, which are provided to them online, and to complete a disclosure form acknowledging that they have reviewed the policies and requiring that any conflicts or potential conflicts be disclosed. All disclosed conflicts are reviewed by the applicable office head, manager or department chair, and then brought to the respective vice president of human resources, the dean of the faculty, or the director of the pppl for further review and resolution. Conflict disclosure forms completed by officers are reviewed by the president of the university and by the compensation committee of the board of trustees; the president's disclosure form is reviewed by the compensation committee of the board of trustees, and disclosed conflicts, if any, are appropriately resolved.

Form 990, Part VI, Line 19 Required documents available to the public

The organization complies with all public disclosure laws. All public information is available upon request.

Form 990, Part VII, Section A Column B

The officers and trustees of Forrestal Agricultural Corporation are employed by the Trustees of Princeton University, a related organization. The average hours per week that these officers and trustees devote to the related organization during the week is fifty (50) hours per week.

Filing and Contact Details

Filer

Filer Name
Forrestal Agricultural Corporation
EIN
36-3625291
Phone
6092583080
Address
701 Carnegie Center 445, Princeton, NJ 08540

Signing Officer

Name
Kenneth Molinaro
Title
Controller
Signed
2025-05-13

Organization Details

Formed
1988
Legal Domicile
Ia
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The organization's financial statements for the year were issued on a consolidated basis with the Trustees of Princeton University, a supported organization. The University is a not-for-profit organization as described in Section 501(c)(3) of the Internal Revenue Code and is exempt from income taxes on related income. The University files U.S. federal and various state and local tax returns. The statute of limitations on the University's U.S. federal tax returns remains open for the years ended June 30, 2021 through the present. On December 22, 2017, the Tax Cuts and Jobs Act ("TCJA") was enacted. TCJA impacts the University in several ways, including imposing excise taxes on certain excess compensation and net investment income, and establishing new rules for calculating unrelated business taxable income. The University has reflected the tax assets, liabilities, and payables in the consolidated financial statements based on reasonable estimates under the regulatory guidance on the TCJA. ASC 740, Income Taxes, prescribes the minimum recognition threshold that a tax position must meet in connection with accounting for uncertainties in income tax positions taken, or expected to be taken, by an entity before being measured and recognized in the consolidated financial statements. The University continues to evaluate its tax positions pursuant to the principles of ASC 740, and has determined that there is no material impact on the University's consolidated financial statements.

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt270676
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt34506
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Andrew Golden
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1James Matteo
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2Jonathan Erickson
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3Kenneth Molinaro
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President, Trustee (THROUGH 6/30/24)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1Vice President, Trustee
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2Secretary, Trustee
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3Treasurer
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt30
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1721854
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt23385143
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt3337222
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0Compensation is established by the Trustees of Princeton University, a related organization, by using the following methods: Compensation committee, Independent compensation consultant, Form 990 of other organizations, Compensation survey or study, Approval by the board or compensation committee.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1The President of and the Managing Directors of Princeton University Investment Company, a related organization University Department, participated in and received compensation from non-qualified unfunded 457 (f) incentive compensation plans which provide for the deferral of compensation (which amount can increase or decrease substantially depending on the performance of certain market benchmarks), until such compensation is no longer subject to a substantial risk of forfeiture. Part II Deferred compensation from the related organization includes unvested, incentive compensation earned for the period 7/1/23-6/30/24.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule J, Part I, Line 3 Compensation Information
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule J, Part I, Line 4b Supplemental Nonqualified Retirement Plan
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0true
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's whistleblower policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's document retention and destruction policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's joint venture policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Trustees of Princeton University, a related entity that controls this organization, has delegated to the Princeton University Investment Company Board of Directors the annual election of the organization's board of directors, who then selects and approves the organization's officers.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Form 990 is prepared by Princeton University's Office of Finance & Treasury, a related entity and is reviewed by management. Prior to filing the tax return, a copy of the complete form 990 is electronically sent to each member of the governing body allowing time for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ON AN ANNUAL BASIS, ALL TRUSTEES ARE PROVIDED WITH A COPY OF THE CONFLICT OF INTEREST POLICY FOR TRUSTEES AND A STATEMENT OF COMPLIANCE AFFIRMATION WHICH THEY ARE REQUIRED TO SIGN AND RETURN TO THE OFFICE OF THE VICE PRESIDENT AND SECRETARY. WHERE QUESTIONS ARISE ABOUT POTENTIAL CONFLICTS OF INTEREST OR THE POSSIBLE PERCEPTION OF SUCH CONFLICTS, THE POLICY REQUIRES THAT THOSE ISSUES BE BROUGHT TO THE CHAIR OF THE TRUSTEE COMMITTEE ON COMPENSATION FOR RESOLUTION. ON AN ANNUAL BASIS, THE VICE PRESIDENT OF HUMAN RESOURCES, THE DEAN OF THE FACULTY, AND THE DIRECTOR OF THE PRINCETON PLASMA PHYSICS LABORATORY ("PPPL") ARE RESPONSIBLE FOR ENSURING COMPLIANCE WITH THE UNIVERSITY'S CONFLICT OF INTEREST POLICIES BY ALL EMPLOYEES HIRED THROUGH THEIR RESPECTIVE UNITS. ALL OFFICE HEADS, MANAGERS OF DEPARTMENTS, PROGRAMS, CENTERS, AND INSTITUTES, AND ACADEMIC DEPARTMENT CHAIRS ARE REMINDED OF THEIR OBLIGATION TO ENSURE COMPLIANCE IN THEIR FUNCTIONAL AREAS. ALL EMPLOYEES ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICIES, WHICH ARE PROVIDED TO THEM ONLINE, AND TO COMPLETE A DISCLOSURE FORM ACKNOWLEDGING THAT THEY HAVE REVIEWED THE POLICIES AND REQUIRING THAT ANY CONFLICTS OR POTENTIAL CONFLICTS BE DISCLOSED. ALL DISCLOSED CONFLICTS ARE REVIEWED BY THE APPLICABLE OFFICE HEAD, MANAGER OR DEPARTMENT CHAIR, AND THEN BROUGHT TO THE RESPECTIVE VICE PRESIDENT OF HUMAN RESOURCES, THE DEAN OF THE FACULTY, OR THE DIRECTOR OF THE PPPL FOR FURTHER REVIEW AND RESOLUTION. CONFLICT DISCLOSURE FORMS COMPLETED BY OFFICERS ARE REVIEWED BY THE PRESIDENT OF THE UNIVERSITY AND BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES; THE PRESIDENT'S DISCLOSURE FORM IS REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, AND DISCLOSED CONFLICTS, IF ANY, ARE APPROPRIATELY RESOLVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The organization complies with all public disclosure laws. All public information is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8The officers and trustees of Forrestal Agricultural Corporation are employed by the Trustees of Princeton University, a related organization. The average hours per week that these officers and trustees devote to the related organization during the week is fifty (50) hours per week.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 12a Conflict of Interest
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 13 Whistleblower Policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 14 Document Retention & Destruction Policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 16b Joint Venture Policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 7a Members or stockholders electing members of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part VII, Section A Column B
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0The Trustees of Princeton University
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0210634501
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Education and Research
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt02
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0701 Carnegie Center
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine2Txt0Suite 445
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Princeton
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd008540
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalVolunteersCnt00
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0701 Carnegie Center Suite 445
IRS990/USAddress/CityNm0Princeton

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