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Rumson Endowment Fund INC FY2023 filing

Tax-deductible

Rumson, NJ501(c)(3)Since 1992Public & Societal BenefitEIN 22-3206309Revenue $120K in FY2023

On file with the IRS80 E River Rd, 07760-1630 · Rumson, NJTax-exempt since Jun 2000Supporting organization — 509(a)(3)

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The corporation has and will seek contributions from the general public in order to provide capital improvements and/or recreational facilities within the borough of Rumson in ways accepted by the mayor and council of the borough as required by new jersey law.

501(c)(3) charity; gifts are tax-deductible.
20¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $67K a year · 58% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
20%
of spending
Concern: 20% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
40 mo
of spending, in cash
Looks good: 40.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $30K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$224K
99% of total assets
Concern: liabilities are 99% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$120K
+461% vs prior year
Spent
$68K
To programs
20%
Net assets
$227K
By yearFY2020–FY2025
Revenue
$120K
FY2023▲ +461%
Tap a bar for its year
Revenue by fiscal year
FY2020$7K
FY2021$377
FY2022$21K
FY2023$120K
FY2024$89K
FY2025$448K
Expenses
$68K
FY2023▲ +366%
Tap a bar for its year
Expenses by fiscal year
FY2020$42K
FY2021$15K
FY2022$15K
FY2023$68K
FY2024$70K
FY2025$76K
Net assets
$227K
FY2023▲ +30%
Tap a bar for its year
Net assets by fiscal year
FY2020$182K
FY2021$168K
FY2022$175K
FY2023$227K
FY2024$245K
FY2025$617K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2000.

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

Where the money goes

20 cents of each dollar spent went to programs.

Program services 20% · $14K Management & general 64% · $43K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
John Calder
Director
$0Pt VII · Sec A
Helen L Graves
Chief Financial Officer
$0Pt VII · Sec A
$0Pt VII · Sec A
Thomas S Rogers
Administrator
$0Pt VII · Sec A
See Rumson Endowment Fund INC executive salaries →

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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 15aNo

Programs and updates

Funds capital improvements and recreational facilities for Rumson, with mayoral approval.

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Provided by the organization

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3 programs · $14K · in their own filed words · FY2023
01

Maintenance of bingham hall for the use of borough of rumson residents.

$10Kprogram expense
02

All other programs including fire dept.

$3Kprogram expense
03

Tree lighting CEREMONY/DISPLAY for rumson residents.

$938program 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
The Goldman Sachs Charitable Gift FundFY2024$30K
Total grants receivedfrom 1 funder$30K
Grants paid · 4 grants · $154K · 2023–2025
Borough of RumsonFY2025$61,617
American Constitution Spirit FoundationVA · FY2025$10,500
Borough of RumsonFY2024$67,632
Borough of RumsonFY2023$13,806

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$120K
Ln 12
Gifts and grantsLn 1h$113K
Investment incomeLn 3$6K
Money outPt IX
$68K
Ln 25
Programscol B$14K
Managementcol C$43K
Owns and owesPt X
$227K
net assets · Ln 32
Cash and savingsLn 1–2$227K
Total assetsLn 16$227K
LiabilitiesLn 26$224K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$113K
Government grantsLn 1e$2K
Investment incomeLn 3$6K
Total revenueLn 12$120K
Assets in detailPt X, end of year
SavingsLn 2$227K
Cash and savings togetherLn 1–2$227K
Land, buildings, equipmentLn 10c$235K
Total assetsLn 16$227K
LiabilitiesLn 26$224K
Net assetsLn 32$227K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$175K$227K
Land, buildings, equipmentLn 10c$0$235K
Total assetsLn 16$175K$462K
LiabilitiesLn 26$0$224K
Net assetsLn 32$175K$238K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14K$14K
Accounting feesLn 11c$3K$3K
Office expensesLn 13$300$300
Depreciation, depletion and amortizationLn 22$39K$39K
Other expenses (24a–d)Ln 24$100$100
Total functional expensesLn 25$57K$14K$43K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $448K$76K$371K$617K 990 PDF
FY2024 $89K$70K$18K$245K 990 PDF
FY2023 Viewing $120K$68K$52K$227K 990 PDF
FY2022 $21K$15K$7K$175K 990 PDF
FY2021 $377$15K−$14K$168K 990 PDF
FY2020 $7K$42K−$34K$182K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $119,531 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $21,024$113,285
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $264$6,246
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $21,288$119,531
I-13 Grants and similar amounts paidPrior year $14,189$13,806
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $333$42,973
I-18 Total expensesPrior year $14,522$56,779
I-19 Revenue less expensesPrior year $6,766$62,752
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $119,531 across 5 lines filed
VIII-1e Government grants$2,500
VIII-1f All other contributions, gifts and grants$110,785
VIII-1h Total contributions, gifts and grants$113,285
VIII-3 Investment incomeExcluded from tax $6,246$6,246
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $6,246$119,531
Part IX · Statement of functional expenses $56,779 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $13,806$13,806
IX-11c Accounting feesManagement $3,410$3,410
IX-13 Office expensesManagement $300$300
IX-22 Depreciation, depletion and amortizationManagement $39,163$39,163
IX-24 Other expenses (24a–d)Management $100$100
IX-25 Total functional expensesPrograms $13,806 · Management $42,973 · Fundraising $0$56,779
Part X · Balance sheet $461,762 assets, 9 lines filed
X-2 Savings and temporary cash investmentsStart of year $174,869$226,785
X-10c Land, buildings and equipment, netStart of year $0$234,977
X-16 Total assetsStart of year $174,869$461,762
X-24 Unsecured notes and loans payable$224,141
X-26 Total liabilitiesStart of year $0$224,141
X-27 Net assets without donor restrictionsStart of year $104,200$148,126
X-28 Net assets with donor restrictionsStart of year $70,669$89,495
X-32 Total net assets or fund balancesStart of year $174,869$237,621
X-33 Total liabilities and net assetsStart of year $174,869$461,762
Part XI · Reconciliation of net assets $237,621 net assets at year end
XI-1 Total revenue$119,531
XI-2 Total expenses$56,779
XI-3 Revenue less expenses$62,752
XI-4 Net assets at start of year$174,869
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$237,621

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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