What is the TCNJ Foundation?
The College of New Jersey Foundation, Inc. was established in 1971 to encourage private gifts in support of the college. As a nonprofit, tax-exempt corporation, the foundation is empowered to solicit, receive, and administer gifts, grants, bequests, and trusts for the benefit of the college, its students, faculty, schools, departments, and programs. All private gifts from alumni, friends, private foundations, corporations, and other entities, for the benefit of The College of New Jersey, are received through the TCNJ Foundation.
What does the TCNJ Foundation do?
One of the most prominent goals of the TCNJ Foundation is to act as good-faith steward of our community’s generous philanthropic support. In this way, we are a partner in helping the college achieve its various goals. The foundation thoughtfully invests and preserves the college’s endowment and makes sure the contributions from our donors are used according to their wishes.
Who gives to the TCNJ Foundation?
Any private entity can make a gift to the TCNJ Foundation, which is a 501(c)(3) non-profit organization. Gifts made to the TCNJ Foundation are tax deductible to the fullest extent of the law. The foundation enjoys broad support from the community, including private entities, parents, faculty and staff, and alumni.
What do gifts to the TCNJ Foundation accomplish?
Private gifts help TCNJ maintain its distinction as one of the nation’s leading public colleges. The generosity of the college’s many donors provides need and merit-based scholarships, supports faculty members in their teaching and scholarly activities, affords leadership development and social change initiatives, among many other initiatives.
How are TCNJ Foundation funds distributed?
The TCNJ Foundation distributes funds under two main categories: endowment and current use. All funds are expended per the donor’s wishes. Both endowment and current use gifts can support a specific group or initiative, or be applied to the college’s greatest immediate need.
The TCNJ Foundation has raised money to support five key areas: scholarships, academic and student programs, faculty and staff development, athletics, and general operation.
The Financial Accounting Standards Board (FASB) is a private, non-profit organization standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles within the United States in the public’s interest. The FASB report includes pledged commitments, cash, and bequests.
The Governmental Accounting Standards Board (GASB) is a private, non-governmental organization that is the source of generally accepted accounting principles used by state and local governments in the United States. The GASB report only accounts for cash and realized revenue.
What projects has the TCNJ Foundation supported?
During the Campaign for TCNJ, which raised more than $55 million, four main high-impact areas were identified: student support, academic enrichment, student experience, and capital improvement.
In total, $32 million dollars was raised for need- and merit-based scholarships, which ensured that deserving TCNJ students could focus on fulfilling their promise. The campaign also endowed scholarly pursuits that helped TCNJ attract and retain top scholars and students, and ensured that students benefited from mentored, practice-based study opportunities to learn and lead in the community and across the globe. Modern labs and cross-disciplinary environments were also established for science and engineering students.