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Our 14 member institutions
make a tremendous contribution to New Jersey's bottom line, at very
little cost to state residents. Direct support to our colleges accounted
for just 1.6 percent of state support to all institutions, public and
private, in fiscal year 2003. Enrolling a high percentage of state residents
on our campuses saves taxpayers more than $187 million a year. Factoring
in student and institutional expenditures, the independent sector's
annual economic impact in New Jersey is more than $6 billion.
Why invest in New Jersey's
Independent Colleges?
Because our member institutions:
- Educate more than 63,000 students each year;
- Enroll 17% of the state's students, yet produce 25% of the baccalaureate
degrees and 39% of the graduate degrees;
- Educate more than 30% of the business, engineering, education, physical
science and nursing graduates in the State;
- Educate more than 14,000 minority students;
- Have $6 billion annual impact on the state economy;
- Enroll 76% of their students from New Jersey thereby saving the
state $187 million per year.
Why partner with ICFNJ?
- ICFNJ provides a single point of contact that is able to efficiently
solicit and disburse funds to any or all of our 14 member institutions.
- ICFNJ generates corporate visibility and branding opportunities
where desired.
- ICFNJ establishes and administers scholarship and other programs.
- ICFNJ adds value through best practices forums and shared purchasing
of goods and services.
- ICFNJ provides the corporate community with an opportunity to interact
with and have input to the independent higher education community.
How can my business support
the Independent College Fund of New Jersey?
Contribute unrestricted general operating funds. These contributions
allow our member colleges and universities to direct money where it
is most needed. This is the most helpful and valuable way you can assist
our 14 member institutions.
Fund Scholarships.
Without this help, many deserving and talented students will not have
the financial resources to choose an independent institution. In 2006
our member institutions funded over $266 million in scholarships and
financial aid from their own budgets.
How does my contribution
benefit New Jersey businesses?
Workforce Development -- The strength and depth of the state's
workforce has fueled New Jersey's economic expansion. Independent institutions
have trained many of these highly-skilled employees. While enrolling
just 17 percent of the state's college students, our institutions graduate
31 percent of the business majors, 37 percent of the engineering majors,
28 percent of nursing majors, 36 percent of the physical science majors
and 27 percent of education majors.
Diversity --
The Educational Testing Service has estimated that New Jersey's income
would increase by $11 billion if the state could equalize educational
opportunities for minority students; a rich and growing pool of talent.
Minority enrollment at our member institutions stands at 22.6 percent,
and we award nearly one-third of all minority baccalaureate and graduate
degrees in New Jersey.
National Affiliation
ICFNJ is affiliated with the Foundation for the Independent Higher Education
(FIHE), the national partner in a network of 35 state and regional funds
whose aim is to broaden corporate and philanthropic support of independent
higher education.
Tax Status
ICFNJ is a tax-exempt, non-profit New Jersey corporation and has been
ruled "not a private foundation" by the Internal Revenue Service. It
is a 501 (c) (3) organization and all gifts may be tax deductible under
present federal law.
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