Overview
What is Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation?
Independent Colleges and Universities of New Jersey, a New Jersey-based nonprofit corporation, supports 14 accredited, independent, non-profit, four-year degree-granting colleges and universities in the state. Their primary goal is to provide scholarships and grants that promote professional preparation, implement technology initiatives, ensure faculty development, build global awareness, promote community service, and encourage lifelong learning. These funds aim to educate students who contribute to New Jersey's economic, social, intellectual, and cultural aspirations. In 2020, they awarded 137 scholarships, research grants, and special project grants, offering virtual career opportunities and supporting student resilience during the COVID-19 pandemic. The organization also established an emergency aid fund to help students facing unexpected crises brought on by the pandemic.
Official website here: www.njcolleges.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91% (Four-Star out of Four Stars)
The Independent Colleges and Universities of New Jersey has received a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial management. The organization scored exceptionally well in all measured categories, demonstrating that it has a fully independent board and a strong oversight committee, which contributes positively to its governance and operational transparency.
The financial health of the nonprofit is reflected in its liabilities to assets ratio of 29%, suggesting a solid balance sheet. Additionally, a program expense ratio of 66.33% indicates that a significant portion of its budget is allocated directly to its programs, which is a positive sign for donors who seek to see their contributions making an impact.
While the organization has performed admirably in terms of governance and financial management, some areas, such as the program expense ratio, could benefit from further improvement to optimize the effectiveness of its programs. Overall, the Independent Colleges and Universities of New Jersey is well-regarded for its commitment to maintaining high standards of accountability and service.
This AI summary has been generated from information found on Charity Navigator.
Is Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation legitimate?
Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $639,557
Professional Fundraising Fees: $0
Other Salaries and Wages: $209,125
For more financial information, click here
Official website here: www.njcolleges.org
What is the mission statement of Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation?
The Independent College Fund of New Jersey, or ICFNJ, empowers deserving students by strengthening New Jersey's independent colleges and universities. They achieve this by providing support for strategic investments in programs, scholarships, and education. The ICFNJ collaborates with the corporate and philanthropic communities to support its 14 member institutions and broaden financial support for, as well as awareness in, independent higher education. In essence, ICFNJ's mission is to help deserving students achieve their goals by enhancing the capabilities of New Jersey's independent colleges and universities.
Official website here: www.njcolleges.org
Who is the CEO of Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation?
Stephen R Reynolds Esq is the Trustee of Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation.
Official website here: www.njcolleges.org
What is the revenue of Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation?
Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation's revenue in 2022 was $1,680,818.
Official website here: www.njcolleges.org
Who are the executives of Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation and what are their salaries?
The average compensation at Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation during 2022 was $106,085. There are 8 employees at Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation.
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- Compensation: $108,400
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- Compensation: $91,508
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- Other: $365
Official website here: www.njcolleges.org
Where can I find the form 990 for Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation?
Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.njcolleges.org
Learn more at the official website: www.njcolleges.org
Mission Statement of Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation
Independent Colleges and Universities of New Jersey, a nonprofit corporation, aims to empower deserving students by strengthening its 14 member institutions. Through strategic investments in programs, scholarships, and education, the organization helps these institutions achieve their educational missions. The Independent College Fund of New Jersey, as it is known, collaborates with the corporate and philanthropic communities to provide financial support and raise awareness for independent higher education. By doing so, it broadens the financial resources available to these institutions, enabling them to offer more opportunities to students and contribute to New Jersey's educational landscape.
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Impact
October, 2024
The Independent Colleges and Universities of New Jersey significantly enhances the educational landscape and workforce development in New Jersey. By raising corporate and foundation philanthropic support, it distributes vital funds to 14 member colleges and universities, thereby directly assisting them in achieving their educational missions. This financial backing translates into scholarships for students, enhancing access to quality education at independent institutions.
These funds not only provide essential scholarships but also promote professional preparation, technological advancements, faculty development, global awareness, community service, and lifelong learning. This holistic support fosters graduates who contribute meaningfully to the economic, social, intellectual, and cultural aspirations of the state and beyond.
In 2020, the organization awarded 137 scholarships, along with multiple research grants, facilitating impactful educational experiences for students. By connecting students with leading employers and providing virtual resources for career preparation, it enhances employability and professional readiness among graduates. Furthermore, it plays a pivotal role in building resilience during challenging times, such as the COVID-19 pandemic, by establishing an emergency aid fund that addresses food insecurity, housing instability, and medical needs for students facing unforeseen crises.
By ensuring that students can maintain their progress toward degree completion, the organization supports New Jersey’s workforce pipeline, with a significant percentage of graduates choosing to remain in the state. Overall, the Independent Colleges and Universities of New Jersey not only empowers students to realize their goals but also strengthens the overall educational ecosystem, contributing to a vibrant and skilled workforce.
This information is meant to be a general summary of Independent Colleges And Universities Of New Jersey A Nj Nonprofit Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $47,328
- Gross Receipts: $1,708,351
Assets and Liabilities:
- Total Assets: $2,289,692
- Total Liabilities: $644,831
- Net Assets: $1,644,861
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Organization Details
Founding Year
1953
Phone
(609) 218-5026Principal Officer
Stephen R Reynolds Esq
Main Address
154 WEST STATE STREET, TRENTON, NJ, 08608
Website
www.njcolleges.orgNTEE Category
Code: B82 - Education
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