About ICFNJ

  Since 1953, the Independent College Fund of New Jersey (ICFNJ) has secured more than $69 million in financial support for the State’s independent colleges and universities. ICFNJ is a cooperative effort between business and academic leaders who recognize the important role the independent higher education sector plays in building a stronger New Jersey.

ICFNJ helps its 14 member institutions partner with the corporate and philanthropic communities to fulfill the goal of educating students who contribute to the economic, ethical, intellectual, and cultural aspirations of the State. Our 14 institutions have more than 462,000 living alumni.  Over 50 percent of all ICFNJ college and university graduates still live in New Jersey.

The economic impact of the independent higher-education sector was more than $97 billion in 2012.  The employment of more than 18,300 people and projections that our 14 member institutions will spend over $460 million in 2014 and 2015 on new construction and campus facility renovations continue the tradtional of positive contributions to New Jersey's economy by New Jersey's private colleges and universities. 
  
 
History
The Independent College Fund of New Jersey (ICFNJ) was founded in 1953 as a cooperative effort involving business and academic leaders of New Jersey in order to broaden financial support for and awareness of independent higher education.

Mission
The Independent College Fund empowers deserving students to realize their goals by strengthening New Jersey's independent colleges and universities with support for strategic investments in programs, scholarships and education.  The Independent College Fund of New Jersey partners with the corporate and philanthropic communities to support its 14 member institutions.

Vision
To serve as an essential advocate in promoting wider understanding of and support for independent higher education in New Jersey through the cultivation and maintenance of relationships with members of the corporate and foundation communities.

To emphasize unrestricted giving while presenting corporate donors with opportunities to make “business compatible contributions.” To identify and monitor trends in corporate philanthropy and recommend to our Board appropriate actions to benefit from these realities on behalf of independent higher education.

To provide  opportunities for our member college and universities to enhance quality, access and affordability and fulfill their respective missions.

Membership
An association of 14 regionally accredited, independent, non-profit, four-year degree granting college and universities in the State of New Jersey.


Distribution of Funds
Since its first allocation in 1954, ICFNJ has raised and distributed more than $66 million in support of its member institutions. Contributions to ICFNJ are used to supplement the operating budgets of the member institutions and are distributed using a formula established by the member institutions. Unrestricted money is distributed 60 percent equally, 40 percent by enrollment. A donor can also designate a gift specifically to one or a combination of members, though it is the unrestricted gift which benefits the entire independent educational community.


National Affiliation
ICFNJ is affiliated with the Council of Independent Colleges (www.cic.edu), the national partner in a network of 32 state and regional funds who 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 a 501(c)3 organization and all gifts to it are tax deductible as allowed by federal law.