TRI-COUNTY SCHOLARSHIP FUND

EIN: 222354475 501(c)(3) Education

MENDHAM, NJ

Total Revenue
$5,164,180
Total Expenses
$4,557,952
Total Assets
$11,164,560
Net Assets
$9,556,235
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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
NJ
Principal Officer
PRUDENCE PIGOTT
Phone
9739849600
Tax Period
2024-01-01 to 2024-12-31

TRI-COUNTY SCHOLARSHIP FUND, founded in 1981, is a community nonprofit in the Education sector that reported $5.2M in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $4.6M left a modest 12% surplus.

Mission

TRI-COUNTY SCHOLARSHIP FUND PROVIDES K-12 SCHOLARSHIPS TO DESERVING AND FINANCIALLY DISADVANTAGED CHILDREN IN NORTHERN NEW JERSEY SO THEY CAN OBTAIN A HIGH QUALITY, VALUES-BASED EDUCATION AT ACCREDITED PRIVATE ELEMENTARY AND SECONDARY SCHOOLS THAT WILL ENABLE THEM TO ACHIEVE THEIR FULL POTENTIAL.TCSF HOLDINGS, LLC IS A REAL ESTATE HOLDINGS COMPANY WHOLLY-OWNED BY THE FUND FOR THE PURPOSE OF HOLDING TITLE TO PROPERTY FOR THE BENEFIT OF THE FUND.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,718,921
Program Service Revenue $0
Investment Income $631,305
Other Revenue $-186,046
TOTAL REVENUE $5,164,180

Expense Breakdown

Grants Paid $3,213,878
Salaries & Benefits $850,785
Fundraising Expenses $268,115
Program Expenses $3,911,522
Other Expenses $493,289
TOTAL EXPENSES $4,557,952

Year-over-Year Comparison

2024 2023 Change
Revenue $5,164,180 $3,942,024 +0.3%
Expenses $4,557,952 $3,643,056 +0.3%
Net Income $606,228 $298,968 +1.0%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
55
Independent Members
55
Employees
5
Volunteers
90

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$271,325
Total Directors
55
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH W SPADA CHAIR 1.00
Officer Director
$0 $0 $0
FRANCES HOWARD VICE-CHAIR 1.00
Officer Director
$0 $0 $0
FRED PIERCE TREASURER 2.00
Officer Director
$0 $0 $0
MARC ADEE TRUSTEE 0.30
Director
$0 $0 $0
JUAN ANDRADE TRUSTEE 0.30
Director
$0 $0 $0
CAROLYN BADENHAUSEN TRUSTEE 0.30
Director
$0 $0 $0
MARK BODE TRUSTEE 0.30
Director
$0 $0 $0
CATHLEEN CALLAHAN TRUSTEE 0.30
Director
$0 $0 $0
ROBERT CAVALERO TRUSTEE 0.30
Director
$0 $0 $0
BRIAN CLARK TRUSTEE 0.30
Director
$0 $0 $0
WILLIAM COZINE TRUSTEE 0.30
Director
$0 $0 $0
RICK DEBEL TRUSTEE 0.30
Director
$0 $0 $0
RICK DIANA TRUSTEE 0.30
Director
$0 $0 $0
LISA DONINI TRUSTEE 0.30
Director
$0 $0 $0
KENNETH DONOVAN TRUSTEE 0.30
Director
$0 $0 $0
KRISTINE DONOVAN TRUSTEE 0.30
Director
$0 $0 $0
TIMOTHY DUFFY TRUSTEE 0.30
Director
$0 $0 $0
JUAN GAMARRA TRUSTEE 0.30
Director
$0 $0 $0
KEVIN GARDNER TRUSTEE 0.30
Director
$0 $0 $0
WILLIAM GASCOIGNE TRUSTEE 0.30
Director
$0 $0 $0
JOSEPH GONNELLA TRUSTEE 0.30
Director
$0 $0 $0
ALINA HABBA TRUSTEE 0.30
Director
$0 $0 $0
ELIZABETH HENNESSY TRUSTEE 0.30
Director
$0 $0 $0
CATHERINE HIGGINS TRUSTEE 0.30
Director
$0 $0 $0
ANNEMARIE HOCHKEPPEL TRUSTEE 0.30
Director
$0 $0 $0
MICHAEL HOCHKEPPEL TRUSTEE 0.30
Director
$0 $0 $0
TREVOR JONES TRUSTEE 0.30
Director
$0 $0 $0
THEODORE KNAUSS TRUSTEE 0.30
Director
$0 $0 $0
ANNE SCHMIDT KRUMP TRUSTEE 0.30
Director
$0 $0 $0
SCOTT LENZ TRUSTEE 0.30
Director
$0 $0 $0
NANCY LOTTINVILLE TRUSTEE 0.30
Director
$0 $0 $0
ANN MARIE MANAHAN TRUSTEE 0.30
Director
$0 $0 $0
JOHN MARCHIONI TRUSTEE 0.30
Director
$0 $0 $0
JUSTIN MARCUCCI TRUSTEE 0.30
Director
$0 $0 $0
SACHA MARCUCCI TRUSTEE 0.30
Director
$0 $0 $0
LINA MARTINEZ TRUSTEE 0.30
Director
$0 $0 $0
PATRICK MCGOVERN TRUSTEE 0.30
Director
$0 $0 $0
A QUENTIN MURRAY TRUSTEE 0.30
Director
$0 $0 $0
TRISH O'KEEFE TRUSTEE 0.30
Director
$0 $0 $0
PAUL ONDERDONK TRUSTEE 0.30
Director
$0 $0 $0
YVONNE PREVIDI TRUSTEE 0.30
Director
$0 $0 $0
REEMA PURI TRUSTEE 0.30
Director
$0 $0 $0
GEORGE RACHMIEL TRUSTEE 0.30
Director
$0 $0 $0
ROBERT SAMETH TRUSTEE 0.30
Director
$0 $0 $0
MARYBETH SAVAS TRUSTEE 0.30
Director
$0 $0 $0
AMI SIMUNOVICH TRUSTEE 0.30
Director
$0 $0 $0
DREW SPITZER TRUSTEE 0.30
Director
$0 $0 $0
JOSEPH STEFANS TRUSTEE 0.30
Director
$0 $0 $0
MOST REVEREND KEVIN J SWEENEY TRUSTEE 0.30
Director
$0 $0 $0
FATHER MICHAEL TIDD TRUSTEE 0.30
Director
$0 $0 $0
CHARLES VARVARO TRUSTEE 0.30
Director
$0 $0 $0
ROBERT WALDELE TRUSTEE 0.30
Director
$0 $0 $0
SUSANNE WALDELE TRUSTEE 0.30
Director
$0 $0 $0
MICHAEL ZOGBY TRUSTEE 0.30
Director
$0 $0 $0
ROBERTO YANEZ TRUSTEE 0.30
Director
$0 $0 $0
PRUDENCE A PIGOTT PRESIDENT, EX-OFFICIO 40.00
Officer
$250,000 $21,325 $271,325
MIKE MUND OFFICE MANAGER 40.00
Highest
$157,447 $28,074 $185,521
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $5,164,180 $4,557,952 $11,164,560 $606,228
2023 $3,942,024 $3,643,056 $10,277,706 $298,968
2022 $4,548,687 $3,347,080 $9,199,848 $1,201,607
2021 $4,183,425 $3,047,012 $8,758,525 $1,136,413
2020 $3,859,376 $2,792,278 $7,463,451 $1,067,098
2019 $3,326,623 $2,298,621 $5,832,945 $1,028,002
2018 $3,026,754 $1,871,605 $4,304,677 $1,155,149
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