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Rumson Education Foundation INC FY2020 filing

Tax-deductible

Rumson, NJ501(c)(3)Foundations & Grantmakers EIN 22-3375852Revenue $185K in FY2020

On file with the IRSrumsonedfoundation.orgPo Box 395, 07760-0395 · Rumson, NJTax-exempt since Feb 1996Publicly supported charity — 170(b)(1)(A)(vi)

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To fund various educational and technology programs in the local Rumson school district

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · 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
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
3 of 5
filings with a surplus
Average surplus $30K a year · 12% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 9.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$185K
Spent
$257K
To programs
98%
Net assets
$205K
By yearFY2020–FY2024
Revenue
$185K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$185K
FY2021$242K
FY2022$240K
FY2023$400K
FY2024$214K
Expenses
$257K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$257K
FY2021$179K
FY2022$254K
FY2023$291K
FY2024$150K
Net assets
$205K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$205K
FY2021$268K
FY2022$253K
FY2023$362K
FY2024$426K

From the FY2020 Form 990 · 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 ruling in Feb 1996.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $253K Management & general 2% · $4K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
Lisa Dumont
Secretary
$0Pt VII · Sec A
Sarah Kiley
Vice President
$0Pt VII · Sec A
Tom Collard
President
$0Pt VII · Sec A
Jaclyn Amorim
Treasurer
$0Pt VII · Sec A
See Rumson Education Foundation 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 educational and technology programs for the local Rumson school district.

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Provided by the organization

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1 program · $253K · in their own filed words · FY2020
01

To enhance educational and technology programs in the rumson school district.

$253Kprogram 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 · FY2025
Select Equity Group FoundationFY2025$2K
Total grants receivedfrom 1 funder$2K
Grants paid · 4 grants · $849K · 2020–2024
Rumson Board of EducationFY2024$136,896
Rumson Board of EducationFY2023$286,643
Rumson Board of EducationFY2021$172,508
Rumson Board of EducationFY2020$252,660

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$185K
Ln 12
Other incomeLn 4–11$159K
Gifts and grantsLn 1h$25K
Investment incomeLn 3$302
Money outPt IX
$257K
Ln 25
Programscol B$253K
Managementcol C$4K
Owns and owesPt X
$205K
net assets · Ln 32
Cash and savingsLn 1–2$205K
Total assetsLn 16$205K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$25K
Fundraising eventsLn 1c$2K
Investment incomeLn 3$302
Other incomeLn 4–11$159K
Total revenueLn 12$185K
Assets in detailPt X, end of year
CashLn 1$205K
Cash and savings togetherLn 1–2$205K
Total assetsLn 16$205K
LiabilitiesLn 26$0
Net assetsLn 32$205K
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderDecember
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$277K$205K
Total assetsLn 16$277K$205K
LiabilitiesLn 26$0$0
Net assetsLn 32$277K$205K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$253K$253K
Accounting feesLn 11c$1K$1K
Office expensesLn 13$181$181
Information technologyLn 14$684$684
InsuranceLn 23$740$740
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$257K$253K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $214K$150K$64K$426K 990 PDF
FY2023 $400K$291K$109K$362K 990 PDF
FY2022 $240K$254K−$14K$253K 990 PDF
FY2021 $242K$179K$62K$268K 990 PDF
FY2020 Viewing $185K$257K−$72K$205K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $185,077 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $38,734$25,405
I-9 Program service revenue$0
I-10 Investment incomePrior year $256$302
I-11 Other revenuePrior year $159,790$159,370
I-12 Total revenuePrior year $198,780$185,077
I-13 Grants and similar amounts paidPrior year $101,323$252,660
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $4,346$4,403
I-18 Total expensesPrior year $105,669$257,063
I-19 Revenue less expensesPrior year $93,111−$71,986
Part VI · Governance 12 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $185,077 across 7 lines filed
VIII-1c Fundraising events$2,150
VIII-1f All other contributions, gifts and grants$23,255
VIII-1h Total contributions, gifts and grants$25,405
VIII-3 Investment incomeRelated to mission $302$302
VIII-8 Net income from fundraising eventsUnrelated business $159,123$159,123
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $247$247
VIII-12 Total revenueRelated to mission $549 · Unrelated business $159,123 · Excluded from tax $0$185,077
Part IX · Statement of functional expenses $257,063 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $252,660$252,660
IX-11c Accounting feesManagement $1,050$1,050
IX-13 Office expensesManagement $181$181
IX-14 Information technologyManagement $684$684
IX-23 InsuranceManagement $740$740
IX-24 Other expenses (24a–d)Management $1,748$1,748
IX-25 Total functional expensesPrograms $252,660 · Management $4,403 · Fundraising $0$257,063
Part X · Balance sheet $205,172 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $277,158$205,172
X-16 Total assetsStart of year $277,158$205,172
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $277,158$205,172
X-33 Total liabilities and net assetsStart of year $277,158$205,172
Part XI · Reconciliation of net assets $205,172 net assets at year end
XI-1 Total revenue$185,077
XI-2 Total expenses$257,063
XI-3 Revenue less expenses−$71,986
XI-4 Net assets at start of year$277,158
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$205,172

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

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