Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
| (A)
MONMOUTH UNIVERSITY INC |
210634584 | 2 | Yes | 0 | 0 | |
|
Total 1
|
0 | 0 | ||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2014 | (b) 2015 | (c) 2016 | (d) 2017 | (e) 2018 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | ||||||
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.... | ||||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 4 | Total. Add lines 1 through 3 | ||||||
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f).. | ||||||
| 6 | Public support. Subtract line 5 from line 4. | ||||||
Calendar year
(or fiscal year beginning in) ![]() |
(a) 2014 | (b) 2015 | (c) 2016 | (d) 2017 | (e) 2018 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | ||||||
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | ||||||
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | ||||||
| 11 | Total support. Add lines 7 through 10 | ||||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2014 | (b) 2015 | (c) 2016 | (d) 2017 | (e) 2018 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | ||||||
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | ||||||
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513 ..... | ||||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | ||||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge | ||||||
| 6 | Total. Add lines 1 through 5 | ||||||
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons | ||||||
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | ||||||
| c | Add lines 7a and 7b.. | ||||||
| 8 | Public support. (Subtract line 7c from line 6.) | ||||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2014 | (b) 2015 | (c) 2016 | (d) 2017 | (e) 2018 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | ||||||
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | ||||||
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | ||||||
| c | Add lines 10a and 10b. | ||||||
| 11 | Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on. | ||||||
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | ||||||
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | ||||||
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
||||
| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
||||
| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
|||||
| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by .035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | ||
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
||
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | ||
| 4 Amounts paid to acquire exempt-use assets | ||
| 5 Qualified set-aside amounts (prior IRS approval required) | ||
| 6 Other distributions (describe in Part VI). See instructions | ||
| 7Total annual distributions. Add lines 1 through 6. | ||
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
||
| 9 Distributable amount for 2018 from Section C, line 6 | ||
| 10 Line 8 amount divided by Line 9 amount | ||
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2018 |
(iii) Distributable Amount for 2018 |
|
|---|---|---|---|---|
|
1
Distributable amount for 2018 from Section C, line 6 |
||||
|
2
Underdistributions, if any, for years prior to 2018 (reasonable cause required-- explain in Part VI). See instructions. |
||||
| 3 Excess distributions carryover, if any, to 2018: | ||||
| a From 2013....... | ||||
| b From 2014....... | ||||
| c From 2015....... | ||||
| d From 2016....... | ||||
| e From 2017....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2018 distributable amount | ||||
|
i
Carryover from 2013 not applied (see instructions) |
||||
| j Remainder. Subtract lines 3g, 3h, and 3i from 3f. | ||||
| 4Distributions for 2018 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2018 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from 4. | ||||
|
5
Remaining underdistributions for years prior to 2018, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
||||
|
6
Remaining underdistributions for 2018. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
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|
7 Excess distributions carryover to 2019. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a Excess from 2014...... | ||||
| b Excess from 2015..... | ||||
| c Excess from 2016..... | ||||
| d Excess from 2017..... | ||||
| e Excess from 2018..... | ||||
| Facts And Circumstances Test |
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| Return Reference | Explanation |
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| Software ID: | |
| Software Version: |
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A | ROBERT SANTELLI, EXECUTIVE DIRECTOR, IS A NON-VOTING MEMBER OF THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 2 | LISA MCKEAN, HENRY D. MERCER III, MICHAEL A. PLODWICK AND ROBERT B. SCULTHORPE ARE TRUSTEES OF MONMOUTH UNIVERSITY. BARBARA CARR AND JON LANDAU ARE EMPLOYEES OF JON LANDAU MANAGEMENT, INC., BRUCE SPRINGSTEEN'S PROFESSIONAL MANAGER. GREY J. DIMENNA, KENNETH WOMACK AND JOHN CHRISTOPHER ARE EMPLOYEES OF MONMOUTH UNIVERSITY. DON FRIEDMAN IS AN ATTORNEY FOR BRUCE SPRINGSTEEN. |
| FORM 990, PART VI, SECTION A, LINE 4 | THE CENTER AMENDED ITS BYLAWS DURING THE YEAR TO CREATE THE OFFICE OF TREASURER. THE TREASURER SHALL BE A MEMBER OF THE BOARD OF DIRECTORS, BE ELECTED FOR A TERM OF ONE YEAR AND SERVE AS AN OFFICER OF THE CORPORATION. THE CENTER ALSO AMENDED ITS BYLAWS DURING THE YEAR TO INCREASE THE MAXIMUM NUMBER OF MEMBERS OF THE BOARD OF DIRECTORS FROM THIRTEEN TO FIFTEEN. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE UNIVERSITY (THE "MEMBER") SHALL BE THE SOLE CORPORATE MEMBER OF THE CENTER AS LONG AS THE UNIVERSITY IS AN ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE BUSINESS AND AFFAIRS OF THE CENTER SHALL BE MANAGED BY OR UNDER THE DIRECTION OF ITS BOARD OF DIRECTORS. THE NUMBER OF DIRECTORS CONSTITUTING THE ENTIRE BOARD OF DIRECTORS SHALL BE FIFTEEN (15), COMPRISED OF THE FOLLOWING: THE PRESIDENT OF MONMOUTH, APPOINTED EX OFFICIO; THE CHAIR OF THE SPRINGSTEEN ARCHIVES ADVISORY BOARD, APPOINTED EX OFFICIO (THE "EX OFFICIO DIRECTORS"); SIX (6) MEMBERS NOMINATED BY THE MEMBER'S BOARD OF TRUSTEES (THE "MEMBER" NOMINEES"); FOUR (4) MEMBERS NOMINATED BY BRUCE SPRINGSTEEN ("SPRINGSTEEN") OR HIS DESIGNEE (THE "SPRINGSTEEN NOMINEES") AND THREE (3) MEMBERS NOMINATED BY A MAJORITY OF THE EX OFFICIO DIRECTORS, THE MEMBER NOMINEES AND THE SPRINGSTEEN NOMINEES (THE "OUTSIDE NOMINEES"). THE EXECUTIVE DIRECTOR OF THE CENTER SHALL BE AN EX OFFICIO, NONVOTING MEMBER OF THE BOARD. DIRECTORS OTHER THAN THOSE WHO ARE APPOINTED EX OFFICIO SHALL SERVE STAGGERED TERMS. UP TO FIVE OF THOSE DIRECTORS APPOINTED IN THE FIRST YEAR (ONLY ONE OF WHICH MAY BE A SPRINGSTEEN NOMINEE) SHALL BE APPOINTED TO A TERM OF ONE YEAR. AS USED IN THIS ARTICLE, "ENTIRE BOARD OF DIRECTORS" MEANS THE TOTAL NUMBER OF DIRECTORS ENTITLED TO VOTE WHICH THE CENTER WOULD HAVE IF THERE WERE NO VACANCIES. AT EACH OF ITS ANNUAL MEETINGS IN JUNE, THE MEMBER SHALL APPROVE THE SLATE OF NOMINEES PROVIDED UNDER SECTION 3.02(A), WHICH DIRECTORS SHALL HOLD OFFICE FOR TWO YEAR TERMS WHICH ARE RENEWABLE. EX OFFICIO DIRECTORS SERVE BY VIRTUE OF THEIR OFFICE WITHOUT THE NEED FOR SEPARATE ELECTION. IF ANY OF THE SPRINGSTEEN OR OUTSIDE NOMINEES SHALL BE REJECTED BY THE MEMBER, A NEW NOMINEE(S) SHALL BE SOUGHT FROM THE PARTY MAKING THE REJECTED NOMINATION. EACH DIRECTOR SHALL HAVE ONE VOTE. DIRECTORS SHALL NOT VOTE BY PROXY. |
| FORM 990, PART VI, SECTION B, LINE 11B | A DRAFT OF FORM 990 IS SENT VIA EMAIL TO ALL DIRECTORS AND OFFICERS FOR REVIEW AND COMMENT. ALL DIRECTOS AND OFFICERS RECEIVE AN EMAILED COPY OF THE FINAL VERSION OF FORM 990 PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CENTER HAS A PROVISION IN ITS BYLAWS WHICH DEALS WITH CONFLICTS OF INTEREST. DIRECTORS AND OFFICERS COMPLETE AN ANNUAL DISCLOSURE STATEMENT SETTING FORTH THEIR BUSINESS AND OTHER INTERESTS. A DIRECTOR OR OFFICER WHO LEARNS ABOUT A POTENTIAL CONFLICT OF INTEREST SHOULD DISCLOSE PROMPTLY TO THE SECRETARY OF THE CENTER. THE BOARD SHALL REVIEW THE MATERIAL FACTS SURROUNDING ANY POTENTIAL CONFLICTS AND APPROVE ONLY THOSE CONTRACTS AND TRANSACTIONS IN WHICH THE TERMS ARE IN THE BEST INTERESTS OF THE CENTER AND ON A FAIR MARKET VALUE BASIS. THE BOARD SHALL SET FORTH THE BASIS FOR ITS DECISION WITH RESPECT TO APPROVAL OF CONTRACTS OR TRANSACTIONS INVOLVING CONFLICTS OF INTEREST IN THE MINUTES OF THE MEETING AT WHICH THE DECISION IS MADE. A MORE DETAILED CONFLICT OF INTEREST POLICY WAS ADOPTED BY THE BOARD AT ITS SEPTEMBER 2019 MEETING. |
| FORM 990, PART VI, SECTION B, LINES 15A AND 15B | THE CENTER DOES NOT HAVE ITS OWN EMPLOYEES OR ITS OWN PAYROLL. ALL EMPLOYEES PROVIDING SERVICES TO SPRINGSTEEN CENTER RECEIVE THEIR W-2S FROM A RELATED ORGANIZATION, MONMOUTH UNIVERSITY ("THE UNIVERSITY"). EXECUTIVE DIRECTOR, ROBERT SANTELLI, IS AN UNPAID VOLUNTEER, AND NO DIRECTORS OR OFFICERS RECEIVE A DIRECT SALARY FROM THE CENTER. THE PROCESS FOR DETERMINING COMPENSATION FOR THE PRESIDENT OF THE UNIVERSITY, GREY J. DIMENNA (CHAIRPERSON OF THE CENTER), IS SET FORTH IN THE UNIVERSITY'S EXECUTIVE COMPENSATION POLICY AND THE MONMOUTH UNIVERSITY COMPENSATION COMMITTEE DOCUMENT ENTITLED "RESPONSIBILITIES OF THE COMMITTEE AND MEMBERS OF THE COMMITTEE". PURSUANT TO THAT POLICY, THE UNIVERSITY BOARD'S COMPENSATION COMMITTEE (ALL OF WHOM ARE INDEPENDENT) AND THE VICE PRESIDENT AND GENERAL COUNSEL, REVIEW COMPARABLE COMPENSATION DATA PROVIDED BY AN INDEPENDENT OUTSIDE CONSULTANT AND MAKE COMPENSATION RECOMMENDATIONS TO THE FULL BOARD OF TRUSTEES AS TO THE COMPENSATION FOR THE PRESIDENT OF THE UNIVERSITY. MINUTES OF BOTH THE COMPENSATION COMMITTEE AND THE BOARD OF TRUSTEES MEETINGS CONCERNING SUCH ACTIONS ARE REVIEWED AND APPROVED BY BOTH BODIES. FORM 990, PART VI, SECTION C, LINE 19 The Center currently does not make its governing documents, conflicts of interest policy and financial statements available to the public. IRS Form 990 is available upon request. |
| FORM 990 PART IX LINE 11G | DESCRIPTION:OUTSIDE LOGO DESIGN TOTAL FEES:650 |
| Software ID: | |
| Software Version: |