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Bloomfield College FY2020 filing

Bloomfield, NJHigher education institutionSince 1868 EIN 22-1494428Revenue $59.9M in FY2020

On file with the IRSbloomfield.edu467 Franklin Street · Bloomfield, NJ

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To prepare students for academic, personal and professional excellence.

83¢ of each $1 spent went to programs.
$2.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $2.7M a year · 5% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.7M
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $55K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$44.0M
42% of total assets
Looks good: liabilities are 42% of assets; 50% or less.
Pt X · Ln 26
Independent board members
31
of 34 voting members
Looks good: 31 of 34 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$59.9M
Spent
$62.0M
To programs
83%
Net assets
$60.8M
By yearFY2020–FY2024
Revenue
$59.9M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$59.9M
FY2021$66.6M
FY2022$53.9M
FY2023$56.6M
FY2024$24.7M
Expenses
$62.0M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$62.0M
FY2021$67.1M
FY2022$54.9M
FY2023$56.5M
FY2024$34.7M
Net assets
$60.8M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$60.8M
FY2021$62.6M
FY2022$58.2M
FY2023$59.5M
FY2024$0

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $51.2M Management & general 16% · $10.0M Fundraising 1% · $746K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

49 people listed on the 990; $2.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Richard Levao
Former President (until 5/31/2019)
$463,182Pt VII · Sec A
Peter Jeong
VP Global Programs and Professional Studies (end 5/31/2020)
$400,229Pt VII · Sec A
Marcheta Evans
President (begin 6/1/2019)
$280,951Pt VII · Sec A
William McDonald
VP Finance & Administration
$213,522Pt VII · Sec A
Kevin Cavanaugh
VP of Enrollment Management
$189,005Pt VII · Sec A
Tresmaine Grimes
VP Academic Affairs (thru September 2019)
$175,426Pt VII · Sec A
Ismatt Mikky
Professor
$164,333Pt VII · Sec A
Patrick Lamy
VP Student Affairs
$158,489Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Dr Marcheta Evans$413,471$551,275$518,947$407,964—
Richard Levao———$129,540$463,182
Peter Jeong——$173,420$442,732$400,229
William McDonald——$375,189$215,000$213,522
Cynthia McDaniel$184,241$221,206$284,954$122,448$122,894
Marcheta Evans————$280,951
Kevin Cavanagh - VP—$276,187———
Patrick Lamy——$274,682$159,503$158,489

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Prepares students for academic, personal, and professional success.

Questions for Bloomfield College

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Provided by the organization

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1 program · $51.2M · in their own filed words · FY2019
01

BLOOMFIELD COLLEGE IS AN INDEPENDENT COLLEGE HISTORICALLY RELATED TO THE PRESBYTERIAN CHURCH (U.S.A.). LOCATED IN THE NEW JERSEY-NEW YORK METROPOLITAN REGION, THE COLLEGE OFFERS ACADEMIC PROGRAMS LEADING TO THE BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES, AND MASTERS IN ACCOUNTING, FINE ARTS AND EDUCATION.

$51.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Independent Colleges & Universities of New Jersey a NJ Np CorpFY2024$30K
National Collegiate Athletic AssociationFY2024$15K
Switzer FoundationFY2024$10K
Total grants receivedfrom 3 funders$55K
See all 3 funders →
Grants paid · 9 grants · $78.9M · 2019–2023
Unitemized GrantFY2023$2,581,604
Unitemized GrantFY2022$15,228,404
Unitemized GrantFY2021$15,840,070
Unitemized GrantFY2021$883,262
Unitemized GrantFY2021$160,478
Unitemized GrantFY2020$17,303,745
Unitemized GrantFY2020$6,535,406
Unitemized GrantFY2019$19,426,788
Unitemized GrantFY2019$972,875

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$59.9M
Ln 12
Fees for servicesLn 2g$53.7M
Gifts and grantsLn 1h$4.2M
Investment incomeLn 3$1.9M
Money outPt IX
$62.0M
Ln 25
Programscol B$51.2M
Managementcol C$10.0M
Fundraisingcol D$746K
Owns and owesPt X
$60.8M
net assets · Ln 32
Cash and savingsLn 1–2$17.4M
Total assetsLn 16$104.8M
LiabilitiesLn 26$44.0M
PeoplePt VI, VII
49
listed · VII A
PaidVII A14
Voting boardVI 1a34
IndependentVI 1b31
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.2M
Government grantsLn 1e$3.2M
Noncash giftsLn 1g$143K
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$53.7M
Investment incomeLn 3$1.9M
Other incomeLn 4–11$144K
Gains on assetsLn 7$1.4M
Total revenueLn 12$59.9M
Assets in detailPt X, end of year
CashLn 1$221K
SavingsLn 2$17.2M
Cash and savings togetherLn 1–2$17.4M
InvestmentsLn 11–13$15.3M
Land, buildings, equipmentLn 10c$69.6M
Other assetsLn 15$39K
Total assetsLn 16$104.8M
LiabilitiesLn 26$44.0M
Net assetsLn 32$60.8M
OperationsPt I, VI
EmployeesI 5452
VolunteersI 64
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$11.5M$17.4M
InvestmentsLn 11–13$15.7M$15.3M
Land, buildings, equipmentLn 10c$73.3M$69.6M
Total assetsLn 16$104.1M$104.8M
LiabilitiesLn 26$40.9M$44.0M
Net assetsLn 32$63.2M$60.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$20.4M$20.4M
Pay of current officers, directors and key staffLn 5$2.2M$1.2M$742K$266K
Other salaries and wagesLn 7$16.9M$13.2M$3.6M$99K
Pension plan contributionsLn 8$1.2M$973K$260K$9K
Other employee benefitsLn 9$2.7M$2.0M$671K$55K
Payroll taxesLn 10$1.4M$1.1M$322K$26K
Legal feesLn 11b$215K$215K
Accounting feesLn 11c$116K$116K
Professional fundraising feesLn 11e$34K$34K
Other fees for servicesLn 11g$2.1M$878K$1.2M$71K
Advertising and promotionLn 12$27K$24K$3K$0
Office expensesLn 13$842K$654K$156K$32K
Information technologyLn 14$1.1M$1.0M$81K$11K
OccupancyLn 16$2.4M$2.2M$174K$24K
TravelLn 17$333K$321K$10K$2K
Conferences, conventions and meetingsLn 19$580K$473K$87K$20K
InterestLn 20$1.4M$1.4M
Depreciation, depletion and amortizationLn 22$4.3M$3.9M$308K$43K
InsuranceLn 23$444K$143K$300K
Other expenses (24a–d)Ln 24$2.7M$2.5M$162K$26K
All other expensesLn 24e$459K$241K$189K$29K
Total functional expensesLn 25$62.0M$51.2M$10.0M$746K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $24.7M$34.7M−$10.0M$0 990 PDF
FY2023 $56.6M$56.5M$42K$59.5M 990 PDF
FY2022 $53.9M$54.9M−$1.0M$58.2M 990 PDF
FY2021 $66.6M$67.1M−$531K$62.6M 990 PDF
FY2020 Viewing $59.9M$62.0M−$2.0M$60.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants M · Noncash J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $59,925,171 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,489,864$4,219,038
I-9 Program service revenuePrior year $55,721,252$53,686,043
I-10 Investment incomePrior year $1,125,781$1,875,623
I-11 Other revenuePrior year $1,007,254$144,467
I-12 Total revenuePrior year $61,344,151$59,925,171
I-13 Grants and similar amounts paidPrior year $19,581,450$20,399,663
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $25,484,004$24,421,102
I-16a Professional fundraising feesPrior year $49,843$34,027
I-17 Other expensesPrior year $18,757,073$17,100,485
I-18 Total expensesPrior year $63,872,370$61,955,277
I-19 Revenue less expensesPrior year −$2,528,219−$2,030,106
Part VI · Governance 31 of 34 board members independent, no flags
VI-1a Voting members of the governing body34
VI-1b Independent voting members31
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $59,925,171 across 11 lines filed
Lines not itemized here account for $40,499 of total revenue; see the IRS return.
VIII-1c Fundraising events$0
VIII-1e Government grants$3,193,736
VIII-1f All other contributions, gifts and grants$1,025,302
VIII-1g Noncash contributions (included above)$143,374
VIII-1h Total contributions, gifts and grants$4,219,038
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $53,686,043$53,686,043
VIII-3 Investment incomeExcluded from tax $500,211$500,211
VIII-6 Net rental income or lossExcluded from tax $12,910$12,910
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,375,412$1,375,412
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $91,058$91,058
VIII-12 Total revenueRelated to mission $53,686,043 · Unrelated business $0 · Excluded from tax $2,020,090$59,925,171
Part IX · Statement of functional expenses $61,955,277 across 21 lines filed
IX-2 Grants to domestic individualsPrograms $20,399,663$20,399,663
IX-5 Pay of current officers, directors and key staffPrograms $1,172,438 · Management $742,438 · Fundraising $265,879$2,180,755
IX-7 Other salaries and wagesPrograms $13,162,210 · Management $3,599,612 · Fundraising $99,445$16,861,267
IX-8 Pension plan contributionsPrograms $973,105 · Management $260,055 · Fundraising $8,726$1,241,886
IX-9 Other employee benefitsPrograms $1,984,739 · Management $670,553 · Fundraising $54,809$2,710,101
IX-10 Payroll taxesPrograms $1,079,207 · Management $322,010 · Fundraising $25,876$1,427,093
IX-11b Legal feesManagement $214,867$214,867
IX-11c Accounting feesManagement $115,590$115,590
IX-11e Professional fundraising feesFundraising $34,027$34,027
IX-11g Other fees for servicesPrograms $877,638 · Management $1,195,069 · Fundraising $71,256$2,143,963
IX-12 Advertising and promotionPrograms $23,855 · Management $2,750 · Fundraising $0$26,605
IX-13 Office expensesPrograms $653,606 · Management $155,752 · Fundraising $32,334$841,692
IX-14 Information technologyPrograms $1,030,321 · Management $80,776 · Fundraising $11,174$1,122,271
IX-16 OccupancyPrograms $2,218,810 · Management $173,952 · Fundraising $24,064$2,416,826
IX-17 TravelPrograms $320,559 · Management $10,321 · Fundraising $1,903$332,783
IX-19 Conferences, conventions and meetingsPrograms $473,095 · Management $87,119 · Fundraising $19,676$579,890
IX-20 InterestManagement $1,392,667$1,392,667
IX-22 Depreciation, depletion and amortizationPrograms $3,926,177 · Management $307,808 · Fundraising $42,581$4,276,566
IX-23 InsurancePrograms $143,191 · Management $300,466$443,657
IX-24 Other expenses (24a–d)Programs $2,546,034 · Management $162,370 · Fundraising $25,644$2,734,048
IX-24e All other expensesPrograms $241,218 · Management $189,255 · Fundraising $28,587$459,060
IX-25 Total functional expensesPrograms $51,225,866 · Management $9,983,430 · Fundraising $745,981$61,955,277
Part X · Balance sheet $104,842,913 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $153,168$221,190
X-2 Savings and temporary cash investmentsStart of year $11,392,868$17,182,506
X-3 Pledges and grants receivableStart of year $2,250,044$1,149,009
X-4 Accounts receivableStart of year $709,792$595,680
X-9 Prepaid expenses and deferred chargesStart of year $632,080$775,929
X-10c Land, buildings and equipment, netStart of year $73,265,161$69,565,750
X-11 Publicly traded securitiesStart of year $15,672,771$15,313,869
X-15 Other assetsStart of year $38,980$38,980
X-16 Total assetsStart of year $104,114,864$104,842,913
X-17 Accounts payable and accrued expensesStart of year $2,341,483$2,308,383
X-19 Deferred revenueStart of year $1,076,750$645,094
X-24 Unsecured notes and loans payableStart of year $0$4,384,749
X-25 Other liabilitiesStart of year $1,123,068$1,001,877
X-26 Total liabilitiesStart of year $40,921,366$44,033,607
X-27 Net assets without donor restrictionsStart of year $45,958,550$44,516,770
X-28 Net assets with donor restrictionsStart of year $17,234,948$16,292,536
X-32 Total net assets or fund balancesStart of year $63,193,498$60,809,306
X-33 Total liabilities and net assetsStart of year $104,114,864$104,842,913
Part XI · Reconciliation of net assets $60,809,306 net assets at year end
XI-1 Total revenue$59,925,171
XI-2 Total expenses$61,955,277
XI-3 Revenue less expenses−$2,030,106
XI-4 Net assets at start of year$63,193,498
XI-5 Net unrealized gains (losses) on investments−$346,086
XI-9 Other changes in net assets−$8,000
XI-10 Net assets at end of year$60,809,306

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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