Princeton Prospect Foundation

Tax-deductible

Princeton, NJ501(c)(3)Colleges & UniversitiesEIN 22-6075964

To facilitate the historic preservation of princeton eating clubs.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
$7K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · 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 5
filings with a surplus
Average surplus $1.3M a year · 57% of revenue · last 5 filings
Fine: a surplus in 4 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
Pay to officers and key staff
$7K
to officers and key staff · 0.3% of spending
Top officer’s pay lower than 98% of similar orgs
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
34 mo
of spending, in cash
Looks good: 34.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $54K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$45
<0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.9M
-35% vs prior year
Spent
$2.5M
To programs
98%
Net assets
$9.6M
By yearFY2021–FY2025
Revenue
$2.9M
FY2025▼ -35%
Revenue by fiscal year
FY2021$521K
FY2022$865K
FY2023$2.5M
FY2024$4.6M
FY2025$2.9M
Expenses
$2.5M
FY2025▲ +127%
Expenses by fiscal year
FY2021$688K
FY2022$393K
FY2023$195K
FY2024$1.1M
FY2025$2.5M
Net assets
$9.6M
FY2025▲ +7%
Net assets by fiscal year
FY2021$2.8M
FY2022$3.0M
FY2023$5.4M
FY2024$9.0M
FY2025$9.6M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1961.

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% · $2.5M Management & general 2% · $48K

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

Who runs it and what they're paid

10 people listed on the 990; $7K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Comptroller
$7,200Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Valarie Bay’s $7K as Comptroller is at the 2nd percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Valarie Bay$7,200$6,842$6,621$5,648$6,599

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.

See Princeton Prospect Foundation 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

Preserves the historic architecture and heritage of Princeton eating clubs.

Provided by the organization

This section is blank until Princeton Prospect Foundation claims this page.

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1 program service account for $2.5M of program spending, described in the organization's own filed words · FY2024.
01

The organization's purposes are (a) to facilitate the preservation and restoration of the historically and architecturally significant buildings owned and occupied by princeton university eating clubs and to educate the general public about the history and architecture of the buildings and (b) to further the education of students…

$2.5Mprogram expense

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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
Total grants receivedfrom 3 funders$54K
See all 3 funders →
Grants paid · 15 grants · $4.7M · 2020–2024
Princeton Charter ClubNJ · FY2024$1,478,392
Tiger InnNJ · FY2024$493,747
Princeton Quad Rangle CluNJ · FY2024$150,000
Princeton Terrace ClubNJ · FY2024$139,000
Princeton Charter ClubNJ · FY2023$838,586
Princeton Charter ClubNJ · FY2021$135,752
Tiger InnNJ · FY2020$487,664
Princeton Quad Rangle CluNJ · FY2020$175,500

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$2.9M
Ln 12
Gifts and grantsLn 1h$2.6M
Investment incomeLn 3$345K
Other incomeLn 4–11$6K
Money outPt IX
$2.5M
Ln 25
Programscol B$2.5M
Managementcol C$48K
Owns and owesPt X
$9.6M
net assets · Ln 32
Cash and savingsLn 1–2$7.3M
Total assetsLn 16$9.6M
LiabilitiesLn 26$45
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.6M
Noncash giftsLn 1g$232K
Investment incomeLn 3$345K
Other incomeLn 4–11$6K
Total revenueLn 12$2.9M
Assets in detailPt X, end of year
CashLn 1$1.2M
SavingsLn 2$6.1M
Cash and savings togetherLn 1–2$7.3M
InvestmentsLn 11–13$2.3M
Total assetsLn 16$9.6M
LiabilitiesLn 26$45
Net assetsLn 32$9.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$6.9M$7.3M
InvestmentsLn 11–13$2.1M$2.3M
Total assetsLn 16$9.0M$9.6M
LiabilitiesLn 26$17$45
Net assetsLn 32$9.0M$9.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.5M$2.5M
Management feesLn 11a$7K$7K
Accounting feesLn 11c$17K$17K
Office expensesLn 13$22K$22K
InsuranceLn 23$450$450
Other expenses (24a–d)Ln 24$3K$640$2K
Total functional expensesLn 25$2.5M$2.5M$48K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.9M$2.5M$407K$9.6M 990 PDF
FY2024 $4.6M$1.1M$3.4M$9.0M 990 PDF
FY2023 $2.5M$195K$2.3M$5.4M 990 PDF
FY2022 $865K$393K$472K$3.0M 990 PDF
FY2021 $521K$688K−$166K$2.8M 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $2,945,885 across 7 lines filed
VIII-1b Membership dues$21,000
VIII-1f All other contributions, gifts and grants$2,572,989
VIII-1g Noncash contributions (included above)$231,849
VIII-1h Total contributions, gifts and grants$2,593,989
VIII-3 Investment incomeExcluded from tax $345,416$345,416
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $6,480$6,480
VIII-12 Total revenueRelated to mission $6,480 · Unrelated business $0 · Excluded from tax $345,416$2,945,885
Part IX · Statement of functional expenses $2,538,800 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $2,490,490$2,490,490
IX-11a Management feesManagement $6,525$6,525
IX-11c Accounting feesManagement $16,650$16,650
IX-13 Office expensesManagement $21,945$21,945
IX-23 InsuranceManagement $450$450
IX-24 Other expenses (24a–d)Programs $640 · Management $2,100$2,740
IX-25 Total functional expensesPrograms $2,491,130 · Management $47,670 · Fundraising $0$2,538,800
Part X · Balance sheet $9,622,381 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,800,907$1,183,194
X-2 Savings and temporary cash investmentsStart of year $5,132,489$6,096,634
X-11 Publicly traded securitiesStart of year $2,053,249$1,836,510
X-12 Other securitiesStart of year $0$506,043
X-16 Total assetsStart of year $8,986,645$9,622,381
X-17 Accounts payable and accrued expensesStart of year $17$45
X-26 Total liabilitiesStart of year $17$45
X-27 Net assets without donor restrictionsStart of year $38,193$37,950
X-28 Net assets with donor restrictionsStart of year $8,948,435$9,584,386
X-32 Total net assets or fund balancesStart of year $8,986,628$9,622,336
X-33 Total liabilities and net assetsStart of year $8,986,645$9,622,381
Part XI · Reconciliation of net assets $9,622,336 net assets at year end
XI-1 Total revenue$2,945,885
XI-2 Total expenses$2,538,800
XI-3 Revenue less expenses$407,085
XI-4 Net assets at start of year$8,986,628
XI-5 Net unrealized gains (losses) on investments$228,623
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$9,622,336

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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