Civic Intelligence

Westminster Foundation Princeton New Jersey

990 • Fiscal year 2020 • EIN 82-4291802

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 28, 2021

Organization ProfileWWW.WESTMINSTERFOUNDATIONPRINCETON.ORG
174 Nassau StPrinceton, NJ 08542

(215) 870-4130

Siviq Scores

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

Liabilities / Assets

81st percentile

0.00x

Higher debt load relative to assets than 81% of similar nonprofits.

2020 filings • NTEE B82 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

79th percentile

0.00x

Higher debt load relative to revenue than 79% of similar nonprofits.

2020 filings • NTEE B82 • <$500k nonprofits • Source year 2020

Net Margin

43rd percentile

-3.7%

Higher net margin than 43% of similar nonprofits.

2020 filings • NTEE B82 • <$500k nonprofits • Source year 2020

Top Officer Pay

94th percentile

$0

Higher top officer pay than 94% of similar nonprofits.

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

2020 filings • NTEE B82 • <$500k nonprofits • Source year 2020

Asset Growth

30th percentile

-6.8%

Faster asset growth than 30% of similar nonprofits.

2020 filings • NTEE B82 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

85th percentile

44%

Faster revenue growth than 85% of similar nonprofits.

2020 filings • NTEE B82 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$110,652

Down $8,092 (-6.8%) from 2019

Net Assets

Down

$110,530

Down $8,214 (-6.9%) from 2019

Liabilities

Up

$122

Up $122 from 2019

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin43rd percentile

Revenue

Up

$223,234

Up $68,275 (+44%) from 2019

Expenses

Up

$231,448

Up $169,545 (+274%) from 2019

Net Income

Down

-$8,214

Down $101,270 (-109%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0Assets 2019: $118,744Liabilities 2019: $0Net Assets 2019: $118,7442019Assets 2020: $110,652Liabilities 2020: $122Net Assets 2020: $110,5302020Assets 2021: $81,578Liabilities 2021: $393Net Assets 2021: $81,1852021Assets 2022: $83,969Liabilities 2022: $0Net Assets 2022: $83,9692022Assets 2023: $83,969Liabilities 2023: $0Net Assets 2023: $83,9692023Assets 2024: $82,418Liabilities 2024: $0Net Assets 2024: $82,4182024

Highlighted filing

2020

Assets$110,652
Liabilities$122
Net Assets$110,530
Open 2020 Filing

Operations Trend

Revenue Growth85th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2019: $154,959Expenses 2019: $61,903Net Income 2019: $93,0562019Revenue 2020: $223,234Expenses 2020: $231,448Net Income 2020: -$8,2142020Revenue 2021: $76,138Expenses 2021: $105,483Net Income 2021: -$29,3452021Revenue 2022: $62,883Expenses 2022: $60,099Net Income 2022: $2,7842022Revenue 2023: $0Expenses 2023: $0Net Income 2023: $02023Revenue 2024: $43,323Expenses 2024: $43,400Net Income 2024: -$772024

Highlighted filing

2020

Revenue$223,234
Expenses$231,448
Net Income-$8,214
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 28, 2021
Return Version
2020v4.0
Gross Receipts
$223,234
Mission and Program Overview

Mission

The foundation is a non-profit entity seeking to ensure the continued support and existence of westminster choir college as a musical institution of world renown in princeton, new jersey. The specific objectives and purposes of this organization shall be: a. To engage in efforts to ensure that generations to come will have the opportunity to study at westminster choir college, b. To advocate for allowing students to have first-rate musical training at westminster choir college, c. To recognize and publicize the unique benefits and contributions these artists can have by studying in this unique setting , d. To continue the legacy of performing with major orchestras both nationally and internationally, e. To continue the ability to perform regularly with major performance ensembles, f. To seek donations and volunteers to provide financial support and such services as required related to these purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$118,744$110,652▼ $8,092
Total Assets$118,744$110,652▼ $8,092
Liabilities
Other Liabilities-$122-
Total Liabilities$0$122▲ $122
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$118,744$110,530▼ $8,214
Total Net Assets Fund Balance$118,744$110,530▼ $8,214
Total Liabilities and Net Assets / Fund Balance$118,744$110,652▼ $8,092
Compensation and Service Providers
Top Officer Pay94th percentile

Board Members and Trustees

NameTitle
Constance FeePresident
Anthony BaronTrustee
Charles GoldbergTrustee
Howard McmorrisTrustee
John KelseyTrustee
Laurie BischofTrustee
Robert MccormickTrustee
Sara BeckTrustee
Donna PlasketSecretary
Thomas FaraccoTreasurer
Randy HillVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$223,234
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$223,234
Change in Net Assets
$-8,214
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$231,448
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$156,766--$156,766
Office Expenses$2,456--$2,456
Information Technology$1,650--$1,650
Insurance$862--$862
Other Expenses$545--$545
Conferences and Meetings$50--$50
All Other Expenses$33--$33
Total Functional Expenses$231,448$0$0$231,448
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pnc Credit Card$122
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
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 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
The Westminster Foundation
EIN
82-4291802
Phone
2158704130
Address
174 NASSAU ST, PRINCETON, NJ 08542

Signing Officer

Name
Thomas Faracco
Title
Treasurer
Phone
2158704130
Signed
2021-10-28

Organization Details

Principal Officer
Thomas Faracco
Formed
2018
Legal Domicile
Nj
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Firm
Howard Azer & Associates Pa
Address
12 ROSZEL RD STE A104, PRINCETON, NJ 08540
Preparer
Howard Azer
Phone
6094521122
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The foundation is a non-profit entity seeking to ensure the continued support and existence of westminster choir college as a musical institution of world renown in princeton, new jersey. The specific objectives and purposes of this organization shall be: a. To engage in efforts to ensure that generations to come will have the opportunity to study at westminster choir college, b. To advocate for allowing students to have first-rate musical training at westminster choir college, c. To recognize and publicize the unique benefits and contributions these artists can have by studying in this unique setting , d. To continue the legacy of performing with major orchestras both nationally and internationally, e. To continue the ability to perform regularly with major performance ensembles, f. To seek donations and volunteers to provide financial support and such services as required related to these purposes.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS A NON-PROFIT ENTITY SEEKING TO ENSURE THE CONTINUED SUPPORT AND EXISTENCE OF WESTMINSTER CHOIR COLLEGE AS A MUSICAL INSTITUTION OF WORLD RENOWN IN PRINCETON, NEW JERSEY. THE SPECIFIC OBJECTIVES AND PURPOSES OF THIS ORGANIZATION SHALL BE: A. TO ENGAGE IN EFFORTS TO ENSURE THAT GENERATIONS TO COME WILL HAVE THE OPPORTUNITY TO STUDY AT WESTMINSTER CHOIR COLLEGE, B. TO ADVOCATE FOR ALLOWING STUDENTS TO HAVE FIRST-RATE MUSICAL TRAINING AT WESTMINSTER CHOIR COLLEGE, C. TO RECOGNIZE AND PUBLICIZE THE UNIQUE BENEFITS AND CONTRIBUTIONS THESE ARTISTS CAN HAVE BY STUDYING IN THIS UNIQUE SETTING , D. TO CONTINUE THE LEGACY OF PERFORMING WITH MAJOR ORCHESTRAS BOTH NATIONALLY AND INTERNATIONALLY, E. TO CONTINUE THE ABILITY TO PERFORM REGULARLY WITH MAJOR PERFORMANCE ENSEMBLES, F. TO SEEK DONATIONS AND VOLUNTEERS TO PROVIDE FINANCIAL SUPPORT AND SUCH SERVICES AS REQUIRED RELATED TO THESE PURPOSES.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0118744
IRS990/TotalAssetsEOYAmt0110652
IRS990/TotalAssetsGrp/BOYAmt0118744
IRS990/TotalAssetsGrp/EOYAmt0110652
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0223234
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0231448
IRS990/TotalFunctionalExpensesGrp/TotalAmt0231448
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0122
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0122
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0118744
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0110530
IRS990/TotalProgramServiceExpensesAmt0231448
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0223234
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0118744
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0110652
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.WESTMINSTERFOUNDATIONPRINCETON.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0THOMAS FARACCO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02158704130
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE WESTMINSTER FOUNDATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0PRINCETON NEW JERSEY INC
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0824291802
ReturnHeader/Filer/PhoneNum02158704130
ReturnHeader/Filer/USAddress/AddressLine1Txt0174 NASSAU ST
ReturnHeader/Filer/USAddress/CityNm0PRINCETON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd008542
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0222812317
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOWARD AZER & ASSOCIATES PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt012 ROSZEL RD STE A104
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PRINCETON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008540
ReturnHeader/PreparerPersonGrp/PhoneNum06094521122
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HOWARD AZER
ReturnHeader/ReturnTs02021-11-15T09:11:00-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0THOMAS
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FARACCO
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$110,652
Liabilities
$122
Net assets
$110,530
Revenue
$223,234
Expenses
$231,448
Net income
-$8,214
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.82$0.43$0.43$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.84$0.00$0.84$0.00$0.00$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.84$0.00$0.84$0.63$0.60$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.81$0.76$1.05$0.29
2020Detailed filing. Detailed filing data is available for this year.$1.11$0.00$1.11$2.23$2.31$0.08
2019Detailed filing. Detailed filing data is available for this year.$1.19$0.00$1.19$1.55$0.62$0.93