NJCPA Scholarship Fund
The mission of the scholarship fund is to attract the best and the brightest of New Jersey students and residents into the accounting profession and to support attaining the certified public accountant designation.
NJCPA Scholarship Fund at a glance
- Total assets
- $3,024,965
- +7.1% vs 2024
- Revenue (2025)
- $391,104
- +7.3% vs 2024
- Net investment income (2025)
- $85,868
- +127.3% vs 2024
- Expenses (2025)
- $295,167
- -12.1% vs 2024
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who NJCPA Scholarship Fund funds
How this funder distributes its grants
Grant Size Distribution
7 grants across all recorded years
The most common grant size was under $50K: 7 grants of 7 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
How NJCPA Scholarship Fund gives
- Giving fell 39% from 2021 to 2024. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2024, annual grant giving ranged from $11K (2024) to $18K (2021). In 2024 it made 1 grant totaling $11K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| National Association of Black Accountants Inc Greenbelt, MD | General Support | $11,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $3,024,965 | $391,104 | $295,167 | — | — | $85,868 |
| 2024 | $2,824,790 | $364,626 | $335,886 | $11,000 | 1 | $37,774 |
| 2023 | $2,526,558 | $619,373 | $406,982 | $16,500 | 2 | $392,586 |
| 2022 | $2,746,310 | $328,200 | $446,843 | $16,500 | 2 | $123,694 |
| 2021 | $3,078,409 | $216,089 | $435,089 | $18,000 | 2 | $37,630 |
| 2020 | $2,817,473 | $481,844 | $486,870 | $17,500 | 2 | $105,634 |
| 2019 | $2,890,735 | $451,897 | $529,444 | $17,500 | 2 | $81,762 |
About NJCPA Scholarship Fund
Based on IRS filings
NJCPA Scholarship Fund is a public charity, based in Roseland, NJ. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $3.0M in total assets. Net investment income was $86K.
Leadership & Key People
Officers and directors from IRS filings
NJCPA Scholarship Fund is led by Angela Garofalo, President since 2025 (on filings since 2019); 2 of 13 officers listed in 2025 are compensated.
Officers on the 2025 filing
Angela Garofalo
President
Trustee → President, 2025
On filings since 2019
1.2 hrs/week
No compensation reported
Greg Tondi
Director of Finance & Administrator
On filings since 2024
1.5 hrs/week
$6K (2025)
Bayaan A. Oluyadi
Trustee
On filings since 2022
0.5 hrs/week
No compensation reported
Joseph A. McGrath Jr.
Trustee
On filings since 2023
0.5 hrs/week
No compensation reported
Joseph W. Zapf
Trustee
On filings since 2024
0.5 hrs/week
No compensation reported
June Toth
Trustee
On filings since 2024
0.5 hrs/week
No compensation reported
Karen J. Lee
Trustee
On filings since 2024
0.5 hrs/week
No compensation reported
John M. Szczomak
Trustee
New on the 2025 filing
0.5 hrs/week
No compensation reported
Patrick Chong
Trustee
New on the 2025 filing
0.5 hrs/week
No compensation reported
Reynold Peter Cicalese III
Trustee
New on the 2025 filing
0.5 hrs/week
No compensation reported
Aiysha Johnson
Vice President
On filings since 2024
3 hrs/week
$3K (2024) → $6K (2025)
Thomas Pedersen
Secretary
Trustee → Secretary, 2024
On filings since 2021
0.5 hrs/week
No compensation reported
Robert A. Fodera
Treasurer
Trustee → Treasurer, 2024
On filings since 2022
0.8 hrs/week
No compensation reported
Former officers (19)
- Former: Henrietta G. Fuchs (2019–2024) — President
- Former: Jeanette Ramos-Alexander (2019–2024) — Trustee
- Former: Ralph Albert Thomas (2019–2024) — Vice President
- Former: Edward G. O'Connell (2023–2024) — Trustee
- Former: Tara Baldwin (2023–2024) — Trustee
- Former: Gordon C. Smith (2019–2023) — CFO
- Former: Jennifer R. Peoples (2019–2023) — Treasurer
- Former: Susan D. Gola (2019–2023) — Secretary
- Former: Kathleen F. Powers (2022–2023) — Trustee
- Former: Gerard Abbattista (2019–2022) — Trustee
- Former: Kristina Bresa (2019–2022) — Trustee
- Former: Harry Wills (2021–2022) — Trustee
- Former: Christopher M. Lovasz (2019–2021) — President
- Former: Patrick C. Higgins (2019–2021) — Trustee
- Former: Alan D. Sobel (2020–2021) — Trustee
- Former: Christine G Pronek (2019–2020) — Secretary
- Former: Kyle Sell (2019–2020) — Trustee
- Former: Jeanette Ramos-Alexand (2020) — Trustee
- Former: Sarah Krom (2019) — Trustee
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $6K, to Aiysha Johnson (Vice President). 2 officers or directors reported compensation on that filing.
Frequently asked questions about NJCPA Scholarship Fund
How large is NJCPA Scholarship Fund?
NJCPA Scholarship Fund reported $3.0M in total assets on its 2025 IRS Form 990. Its revenue that year was $391K.
Where does NJCPA Scholarship Fund operate?
NJCPA Scholarship Fund has awarded grants in Maryland, North Carolina.
What is NJCPA Scholarship Fund's EIN?
NJCPA Scholarship Fund's EIN (Employer Identification Number) is 22-2291384. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2019 (received by the IRS February 25, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS January 12, 2021)
- IRS filings on file for fiscal years 2019–2025
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Figures come from NJCPA Scholarship Fund's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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