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Montclair State University Foundation, Inc. Endowment Fund

Name: Foundation – Montclair State University

Assets Under Management: $73.3 Million (Source: Montclair State University Foundation, Inc. on 8/6/2014)

Annual Report: Montclair State University Foundation, Inc. Financial Statements June 30, 2014 and 2013

Portfolio Insights: “The Montclair State University Foundation, Inc. (“the Foundation”) is a non-profit 501(c)(3) corporation organized under the provisions of Title 15A of the New Jersey Nonprofit Corporation Act. The Foundation maintains quasi-endowed funds which have been established by its Board to be retained and invested for specified purposes.

The Foundation’s endowment fund consists of approximately 205 and 190 individual funds for the years ending June 30, 2014 and 2013, respectively. These funds were established for a variety of purposes including both donor-restricted endowment funds and funds designated by the Foundation’s Board of Trustees to function as endowments (referred to as quasi-endowments).” (Source)

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Top Montclair State University Foundation, Inc. Endowment Fund Headlines:

1) Montclair State University is committed to serving the educational needs of New Jersey with programs characterized by academic rigor and currency in the development of knowledge and its applications. The University will offer a comprehensive range of baccalaureate, master’s, and certificate programs and a focused portfolio of doctoral programs that are closely aligned with the University’s academic strengths and the needs of the state.

The University will recruit faculty with exceptional academic or professional credentials and a deep commitment to the pursuit of their development as teachers and scholars. The University will admit to study with this faculty students who have demonstrated the potential for high achievement, diligence in the pursuit of their education, and high aspirations for using their education. The University will be inexorably committed to the maintenance of a learning community that is deeply and broadly reflective of the diverse population of New Jersey. (Source)

2) Dr. Susan A. Cole assumed office in September of 1998 as the eighth president of Montclair State University, which is the second largest university in New Jersey, with over 20,000 graduate and undergraduate students.  Dr. Cole served as President of Metropolitan State University in Minneapolis/St. Paul, Minnesota from 1993 to 1998 and, prior to that, as Vice President for University Administration and Personnel at Rutgers, The State University of New Jersey, Associate University Dean for Academic Affairs at Antioch University, and a faculty member at The City University of New York.

Dr. Cole serves on the boards of the Liberty Science Center, the Montclair Art Museum, the New Jersey Performing Arts Center Council of Trustees and Peapack-Gladstone Bank, and on the American Association of State Colleges and Universities Penson Center for Professional Development. She was appointed by Governor Christie as New Jersey’s representative to the Education Commission of the States, and by the U.S. Secretary of the Interior to the Paterson Great Falls National Historical Park Advisory Commission.  She served on Governor Christie’s Executive Transition Team and chaired its Education Subcommittee. (Source)

3) Keith D. Barrack is the Chief of Staff to Dr. Susan A. Cole, whom he assists in the management of various aspects of the University’s operations. Prior to joining the University he was a partner at the Florio Perrucci Steinhardt & Fader law firm where his practice focused on public governance, ethics, contracting, and land use/redevelopment matters. Keith has served as an Assistant Counsel to three sitting Governors, a Deputy Attorney General, and was named one of the top 40 lawyers under 40 in New Jersey by the New Jersey Law Journal and a Rising Star by Superlawyer magazine. (Source)

4) Honorary doctoral degree recipient Raymond G. Chambers, Chairman of the New Jersey Devils NHL team, announced during his remarks at the MSU 2001 Commencement ceremony that he is making a $50,000 scholarship donation in honor of the class of 2001. The scholarship funds will begin to be available in the 2002-2003 academic year.

The Devils had a heartbreaking defeat Saturday night against Colorado in the final match of the 2001 the Stanley Cup Championship. But we say, “Wait until next Year! Go Devils!! (Source)

5) Montclair State University announced the establishment of the Gene Consales ’50 Endowed Music Scholarship Fund at a dedication ceremony at the John J. Cali School of Music on May 6, 2014. Endowed with a $1 million gift from Mrs. Kay Consales, widow of the late musician, composer, vocal music teacher and businessman, the new scholarship fund will provide scholarship support to vocal music students.

Montclair State alumnus Gene Consales, who died in 2011 at age 87, was a talented musician and composer who gave up a promising Broadway career to do what he loved best: teach. A high school vocal music teacher for his entire career, Consales drew the best from his students by insisting on “keeping the fun in fundamentals.” His SRO shows at the high school always ended in standing ovations. (Source)

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