2024-05-15T13:55:09-05:00 2023-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2022-07-01 222482802 ROWAN UNIVERSITY FOUNDATION INC ROWA 8562564097 201 MULLICA HILL ROAD GLASSBORO NJ 08028 JOHN J ZABINSKI EXECUTIVE DIRECTOR 8562564148 2024-05-15 1 JOHN ZABINSKI XXX-XX-XXXX 1 EVA MRUK P00543254 9143818900 2024-05-15 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN J ZABINSKI 201 MULLICA HILL ROAD GLASSBORO NJ 08028 86155135 0 X HTTPS://SITES.ROWAN.EDU/ADVANCEMENT X 1983 NJ TO SUPPORT ROWAN UNIVERSITY IN ITS ROLE AS A NEW MODEL FOR EXCELLENCE IN HIGHER EDUCATION. 32 30 0 34 113280 0 41879656 37329380 0 0 16933885 10867544 95912 141522 58909453 48338446 16742287 18113964 0 0 0 0 0 0 0 609325 687358 17351612 18801322 41557841 29537124 350201905 391588315 856638 1163414 349345267 390424901 X THE ROWAN UNIVERSITY FOUNDATION SUPPORTS ROWAN UNIVERSITY BY DEVELOPING MEANINGFUL AND SYNERGISTIC RELATIONSHIPS BETWEEN THE ORGANIZATION AND THE LARGER COMMUNITY AS IT ADVOCATES FOR QUALITY AND DIVERSE SCHOLARLY EXPERIENCES FOR STUDENTS, FACULTY, STAFF, AND ALUMNI. 0 0 14360901 14354750 0 GRANTS TO ROWAN UNIVERSITY AND AFFILIATE -THE ROWAN UNIVERSITY FOUNDATION OVERSEES AND COORDINATES ALL FUND-RAISING ACTIVITIES AND IS RESPONSIBLE FOR THE MANAGEMENT, INVESTMENT AND DISTRIBUTION OF ALL CHARITABLE CONTRIBUTIONS TO BENEFIT ROWAN UNIVERSITY. AS THE INDEPENDENT, OFFICIALLY DESIGNATED NON-PROFIT ORGANIZATION OF PHILANTHROPIC AID TO THE INSTITUTION, THE FOUNDATION IS THE ONLY VEHICLE THROUGH WHICH CHARITABLE GIFTS MAY BE MADE TO ROWAN UNIVERSITY. 3759214 3759214 0 SCHOLARSHIPS GIVEN TO STUDENTS -THE ROWAN UNIVERSITY FOUNDATION'S SCHOLARSHIP PROGRAM AIMS TO ASSIST STUDENTS WITH THE RISING COST OF TUITION AND TOTAL COST OF ATTENDANCE. SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON BOTH NEED AND MERIT. IN FY2023, THE ROWAN UNIVERSITY FOUNDATION AWARDED OVER $3.7 MILLION IN SCHOLARSHIPS. AWARDS ARE MADE TO STUDENTS MAJORING IN ALL OF ROWAN'S ELEVEN ACADEMIC COLLEGES AND UNDERGRADUATE SCHOOLS AS WELL AS OUR TWO MEDICAL SCHOOLS. 18120115 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 1 0 0 1 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 7 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 32 30 1 1 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 0 0 0 CA FL MD MA MI MN NH NJ X JOHN J ZABINSKI 8562564148 201 MULLICA HILL ROAD GLASSBORO NJ 08028 DR ALI HOUSHMAND DIRECTOR (PRES., ROWAN UNIVERSITY) 1.00 54.00 X 0 1038326 163314 DR JAMES GEORGE DIRECTOR (FACULTY, ROWAN UNIVERSITY) 1.00 35.00 X 0 75860 29030 REGINALD J MIDDLETON CHAIR 1.00 0.00 X X 0 0 0 DAVE BURGIN VICE CHAIR 1.00 0.00 X X 0 0 0 MICHAEL CONNALLON TREASURER 1.00 0.00 X X 0 0 0 ANGELA BROWN SECRETARY 1.00 0.00 X X 0 0 0 GEORGE AWAD DIRECTOR 1.00 0.00 X 0 0 0 ALYSSA BOLLENDORF DIRECTOR 1.00 0.00 X 0 0 0 ANTHONY CALABRESE DIRECTOR 1.00 0.00 X 0 0 0 APRIL CARTY-SIPP DIRECTOR 1.00 0.00 X 0 0 0 STEPHEN H CLARK DIRECTOR 1.00 0.00 X 0 0 0 TONY GALVIN DIRECTOR 1.00 0.00 X 0 0 0 JACK HAFNER DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL HARRINGTON DIRECTOR 1.00 0.00 X 0 0 0 CIELO M HERNANDEZ DIRECTOR THRU MAR 2023 1.00 0.00 X 0 0 0 BRIGHID BURGIN HOEMPLER DIRECTOR 1.00 0.00 X 0 0 0 ROBERT W HOEY DIRECTOR 1.00 0.00 X 0 0 0 SCOTT KINTZING DIRECTOR 1.00 0.00 X 0 0 0 STANLEY LABRUNA DIRECTOR 1.00 0.00 X 0 0 0 ERICA ORTIZ DIRECTOR 1.00 0.00 X 0 0 0 ALYCE PARKER DIRECTOR 1.00 0.00 X 0 0 0 SALVATORE PATTI DIRECTOR 1.00 0.00 X 0 0 0 GINA PUSLOSKI DIRECTOR 1.00 0.00 X 0 0 0 HARRY I SCHEYER DIRECTOR 1.00 0.00 X 0 0 0 DR STEPHANIE SCHLITT DIRECTOR 1.00 0.00 X 0 0 0 PAULINE SCHNEIDER DIRECTOR 1.00 0.00 X 0 0 0 ERIC STEIN DIRECTOR 1.00 0.00 X 0 0 0 DAVID J STROUT DIRECTOR 1.00 0.00 X 0 0 0 DOROTHY STUBBLEBINE DIRECTOR 1.00 0.00 X 0 0 0 JAMES TARANGELO DIRECTOR 1.00 0.00 X 0 0 0 JACK TARDITI DIRECTOR 1.00 0.00 X 0 0 0 PAUL TULLY DIRECTOR 1.00 0.00 X 0 0 0 STACEY VAIL DIRECTOR 1.00 0.00 X 0 0 0 JESSE SHAFER EXECUTIVE DIRECTOR 10.00 40.00 X 0 296663 14000 RONALD J TALLARIDA FORMER EXECUTIVE DIRECTOR 0.00 40.00 X 0 298100 14000 0 1708949 220344 0 1 1 0 MORGAN STANLEY & CO INC 1585 BROADWAY NEW YORK NY 10036 INVESTMENT MANAGEMENT ADVISORY 242922 1 31313 37298067 664601 37329380 4409804 -100780 4510584 44249579 37791839 6457740 6457740 214060 6243680 13613 31313 24850 -11237 -11237 ALUMNI EVENTS 900099 66411 66411 OTHER REVENUE 900099 47987 47987 MERCHANT COMMISSIONS 900099 38361 38361 152759 48338446 0 113280 10895786 14354750 14354750 3759214 3759214 12360 12360 89433 89433 289257 289257 92956 92956 19871 19871 37403 37403 21100 21100 51941 51941 CATERING & OFFICIAL REC 66886 66886 LICENSE & REGISTRATIONS 6151 6151 18801322 18120115 681207 0 16527030 20739315 2535960 1683644 5000 0 154560436 175599663 176348980 193542502 224499 23191 350201905 391588315 97766 116991 758872 1046423 856638 1163414 X 77511475 80007514 271833792 310417387 349345267 390424901 350201905 391588315 X 29537124 11472946 69564 X X 0 1 X 0 0 X 13119532 16292638 31266699 41879656 37329380 139887905 13119532 16292638 31266699 41879656 37329380 139887905 82896675 56991230 4004436 3565511 3829485 5722210 4510584 21632226 68953 94512 72781 108402 152759 497407 162017538 0.35180 0.39950 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: ALUMNI EVENTS - 2018 AMOUNT: $ 68,953. 2019 AMOUNT: $ 54,900. 2020 AMOUNT: $ 23,938. 2021 AMOUNT: $ 73,308. 2022 AMOUNT: $ 66,411. SETTLEMENT PAYMENT - 2019 AMOUNT: $ 20,185. 2020 AMOUNT: $ 8,673. MERCHANT COMMISSIONS - 2019 AMOUNT: $ 19,427. 2020 AMOUNT: $ 38,995. 2021 AMOUNT: $ 29,975. 2022 AMOUNT: $ 38,361. OTHER INCOME - 2020 AMOUNT: $ 1,175. 2021 AMOUNT: $ 5,119. 2022 AMOUNT: $ 47,987. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 331901655 31163352 21667393 10799786 373932614 317841516 35079001 -11323093 9695769 331901655 220255877 25545326 81202338 9162025 317841516 221976279 8418971 -1520651 8618722 220255877 207198055 13672945 9513681 8357575 50827 221976279 0.01113 0.98887 0.00000 0 0 0 ABSOLUTE RETURN 44478054 F PRIVATE EQUITY 127885195 F PRIVATELY HELD COMMON STOCK 214928 F REALTY INVESTMENTS 15687834 F VENTURE CAPITAL INVESTMENT 5276491 F 193542502 DUE TO ROWAN UNIVERSITY 647484 ANNUITIES PAYABLE 284597 SPLIT-INTEREST AGREEMENTS 114342 1046423 59546985 11472946 24850 11497796 48049189 289257 289257 48338446 18467351 24850 24850 18442501 289257 69564 358821 18801322 PART V, LINE 4: THE INTENDED USE OF THE FOUNDATION'S ENDOWMENT FUNDS IS TO PROVIDE A SUSTAINABLE SOURCE OF FUNDING TO SUPPORT ROWAN UNIVERSITY AND ITS EDUCATIONAL MISSION. PART XI, LINE 2D - OTHER ADJUSTMENTS: EVENT EXPENSES REPORTED ON PART VIII, LINE 8B 24,850. PART XII, LINE 2D - OTHER ADJUSTMENTS: EVENT EXPENSES REPORTED ON PART VIII, LINE 8B 24,850. PART XII, LINE 4B - OTHER ADJUSTMENTS: DECREASE IN ALLOWANCE FOR UNCOLLECTIBLE PLEDGES 69,564. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 88852880 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 13859754 NORTH AMERICA 0 0 INVESTMENTS 5877222 0 0 0 0 0 0 108589856 0 108589856 1 0 1 1 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART IV, LINE 1, 3, 4, AND 5: THE ORGANIZATION IS REQUIRED TO FILE FORMS 926 AND FORMS 8865 BECAUSE IT MEETS THE APPLICABLE OWNERSHIP THRESHOLD OR OTHER FILING REQUIREMENTS. THE ORGANIZATION IS NOT REQUIRED TO FILE FORMS 5471 AND FORMS 8621 BECAUSE IT DOES NOT MEET THE APPLICABLE OWNERSHIP THRESHOLD OR OTHER FILING REQUIREMENTS. MLK SCHOLARSHIP 29200 23980 5220 12248 ALUMNI EVENTS 15726 7333 8393 12602 44926 31313 13613 24850 24850 -11237 1 ROWAN UNIVERSITY 201 MULLICA HILL ROAD GLASSBORO NJ 08081 222764819 STATE OF NEW JERSEY 14195549 153306 COST EQUIPMENT, MUSICAL INSTRUMENT, SUPPLIES, AND BOOKS TO SUPPORT ROWAN UNIVERSITY ROWAN UNIVERSITY STUDENT GOVERNMENT ASSOCIATION 201 MULLICA HILL ROAD GLASSBORO NJ 08081 222628847 501(C)(3) 5895 0 COST TO SUPPORT STUDENT GOVERNMENT ACTIVITIES 2 0 SCHOLARSHIPS 1028 3738943 STUDENT EMERGENCY PAYMENTS 20 19221 AWARDS 9 1050 PART I, LINE 2: SCHOLARSHIPS: THE ORGANIZATION MONITORS THE USE OF THE GRANTS TO ROWAN UNIVERSITY AND ROWAN UNIVERSITY STUDENT GOVERNMENT ASSOCIATION THROUGH COMMON MANAGEMENT AND PROVIDES STEWARDSHIP REPORTS TO THE DONORS REGARDING THE USE OF THE FUNDS. SCHOLARSHIPS AWARDED ARE CREDITED DIRECTLY TO THE STUDENTS' TUITION ACCOUNTS. STUDENT EMERGENCY PAYMENTS: THE FOUNDATION OFFICE RECEIVES A COPY OF ALL APPROVED (PERSONAL AND CONFIDENTIAL) STUDENT AWARD LETTERS THAT INDICATE A UNIQUE STUDENT NEED AND THE APPROVED AMOUNT PER STUDENT. THIS FUNDING IS MANAGED BY THE OFFICE OF STUDENT LIFE & DEAN OF STUDENTS AND ALL APPROVED LETTERS ARE SIGNED BY KEVIN KOETT (VP OF STUDENT LIFE & DEAN OF STUDENTS). WHEN INDIVIDUAL NON-PO PAYMENTS ARE SUBMITTED IN BANNER, THE FOUNDATION REVIEWS AND APPROVES ALL REQUESTS TO ENSURE ACCURACY AND DONOR INTENT. THE FOUNDATION RECONCILES ALL COA ACTIVITY REGULARLY TO ENSURE FUND PURPOSE AND DESIGNATION ARE PROPERLY RECORDED AND ACCOUNTING DISCREPANCIES ARE ADDRESSED IN A TIMELY MANNER. LITERACY AWARDS: THE FOUNDATION OFFICE WILL REVIEW THE SELECTED AWARD RECIPIENTS BEFORE AWARDS ARE ISSUED AND FUNDING IS RELEASED (THE FOUNDATION OFFICE DOES NOT SELECT AWARD RECIPIENTS. SELECTIONS OF ALL AWARD/STUDENT SCHOLARSHIPS IS DETERMINED BY APPROPRIATE COLLEGE/UNIVERSITY SCHOLARSHIP/AWARDS COMMITTEES). IF THERE ARE ELIGIBILITY/AWARD ISSUES, THEY ARE DISCUSSED & RESOLVED WITH THE AWARD SELECTION COMMITTEES. THE FINANCIAL AID OFFICE IS NOTIFIED AND INCLUDED, AS NEEDED. 0 1 0 0 0 0 0 0 0 DR ALI HOUSHMAND DIRECTOR (PRES., ROWAN UNIVERSITY) 0 621660 0 94258 0 322408 0 88000 0 75314 0 1201640 0 214342 RONALD J TALLARIDA FORMER EXECUTIVE DIRECTOR 0 267196 0 15000 0 15904 0 14000 0 0 0 312100 0 0 JESSE SHAFER EXECUTIVE DIRECTOR 0 281864 0 10000 0 4799 0 14000 0 0 0 310663 0 0 PART I, LINE 3 THE ORGANIZATION'S EXECUTIVE DIRECTOR, JESSE R. SHAFER, WAS COMPENSATED BY A RELATED ORGANIZATION, ROWAN UNIVERSITY. HIS COMPENSATION WAS DETERMINED THROUGH ROWAN UNIVERSITY'S SALARY REVIEW PROCESS, WHICH INCLUDES A REVIEW BY THE UNIVERSITY'S CHIEF HUMAN RESOURCE OFFICER, CHIEF FINANCIAL OFFICER, AND THE PRESIDENT OF ROWAN UNIVERSITY. THESE REVIEWS INCLUDED THE USE OF COMPARABILITY DATA FOR BOTH INTERNAL AND EXTERNAL COMPENSATION EQUITY. PART I, LINE 4B ALI HOUSHMAND, A DIRECTOR OF THE ORGANIZATION AND THE PRESIDENT OF ROWAN UNIVERSITY, PARTICIPATES IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN WITH THE UNIVERSITY, A RELATED ORGANIZATION. THE UNIVERSITY CONTRIBUTED $74,000 TO THE PLAN ON HIS BEHALF IN CALENDAR YEAR 2022. HE ALSO RECEIVED DISTRIBUTION FROM THE 457(F) PLAN IN AMOUNT OF $214,342 IN CALENDAR YEAR 2022. THE AMOUNT IS REPORTABLE AS TAXABLE COMPENSATION IN PART II, COLUMN B (III). X 1 1 COST X 6048 COST X 11 511295 AVG. SELLING PRICE X BOOKS 2 73247 COST X SUPPLIES 1 43670 COST X EQUIPMENT 4 27340 COST X MUSICAL INSTRUMENT 1 3000 COST 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B). FORM 990, PART VI, SECTION A, LINE 2 DIRECTORS, DAVE BURGIN AND BRIGHID BURGIN HOEMPLER HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS DELEGATED FINANCIAL AND ACCOUNTING RESPONSIBILITIES TO THE FINANCE DEPARTMENT OF ROWAN UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 7A THE ROWAN UNIVERSITY BOARD OF TRUSTEES APPOINTS ALL DIRECTORS, EXCEPT FOR THE DIRECTOR POSITION THAT IS RESERVED TO THE PRESIDENT OF THE UNIVERSITY AND CHAIRPERSON OF THE UNIVERSITY TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS DELEGATED THE RESPONSIBILITY FOR THE ORGANIZATION'S FORM 990 TO THE ROWAN UNIVERSITY DIVISION OF FINANCE. THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND IS REVIEWED BY THE ACCOUNTING SERVICES STAFF WITHIN THE ROWAN UNIVERSITY DIVISION OF FINANCE. THE PUBLIC DISCLOSURE COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE ORGANIZATION'S BOARD OF DIRECTORS, PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ROWAN UNIVERSITY FOUNDATION (RUF) CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IS MONITORED AND ENFORCED ANNUALLY. THE CONFLICT OF INTEREST POLICY APPLIES TO ALL DIRECTORS, OFFICERS, EMPLOYEES, AND AGENTS OF RUF, INCLUDING EMPLOYEES OF ROWAN UNIVERSITY WHO ACT ON BEHALF OF RUF. EACH RUF DIRECTOR AND OFFICER MUST ANNUALLY SUBMIT A DISCLOSURE STATEMENT TO THE BOARD CHAIR LISTING, TO THE BEST OF HIS/HER KNOWLEDGE BUT WITHOUT DUTY TO INVESTIGATE, ALL ORGANIZATIONS WITH WHICH HE OR SHE IS AFFILIATED AND DESCRIBING THE NATURE OF THE AFFILIATION. IN THE EVENT THERE IS ANY MATERIAL CHANGE IN THE INFORMATION CONTAINED IN THE DISCLOSURE STATEMENT, THE PERSON WHO SUBMITTED IT MUST PROMPTLY SUBMIT WRITTEN NOTIFICATION OF THE CHANGE. ANY DIRECTOR OR OFFICER WHO IS UNCERTAIN ABOUT A POSSIBLE CONFLICT OF INTEREST IN ANY MATTER MAY REQUEST THE EXECUTIVE COMMITTEE TO DETERMINE WHETHER A POSSIBLE CONFLICT EXISTS. IF REFERRED TO THE EXECUTIVE COMMITTEE, THE QUESTION MUST BE RESOLVED BY MAJORITY VOTE AND MAY BE FORWARDED TO THE FULL BOARD FOR FURTHER REVIEW. THE INTERESTED PERSON MUST NOT VOTE ON THE MATTER IN QUESTION AND MUST NOT BE PRESENT AT THE TIME OF THE VOTE. THE DECISION OF ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST IS DOCUMENTED IN THE MINUTES OF THE BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: DECREASE IN ALLOWANCE FOR UNCOLLECTIBLE PLEDGES 69,564. FORM 990, PART XII, LINE 2C: THE FILING ORGANIZATION DOES NOT HAVE A SEPARATE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE SELECTION OF AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FILING ORGANIZATION'S RELATED ORGANIZATION, ROWAN UNIVERSITY, DOES HAVE SUCH A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR SELECTION ON BEHALF OF THE FILING ORGANIZATION. THE FILING ORGANIZATION DOES HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ROWAN INNOVATION VENTURE FUND LLC 201 MULLICA HILL ROAD GLASSBORO NJ 08028 471589274 PROVIDE EARLY-STAGE FUNDING TO ENTREPRENEURS NJ 0 5330472 ROWAN UNIVERSITY FOUNDATION ROWAN UNIVERSITY 201 MULLICA HILL ROAD GLASSBORO NJ 08028 222764819 HIGHER EDUCATION NJ N/A 0 SOUTH JERSEY TECHNOLOGY PARK AT ROWAN UNIVERSITY INC 201 MULLICA HILL ROAD GLASSBORO NJ 08028 050526470 RESEARCH AND INNOVATION NJ 501(C)(3) LINE 12A, I ROWAN UNIVERSITY 0 ROWAN GLOBAL INC 201 MULLICA HILL ROAD GLASSBORO NJ 08028 871959412 HIGHER EDUCATION AFFILIATE NETWORK DE 501(C)(3) LINE 12A, I ROWAN UNIVERSITY 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0