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THE JOEL & ORA BENTON MONROE BENTON MEMORIAL FOUNDATION
NEW YORK, NY · EIN 133927715 · Form 990 · FY2024 · NTEE T21I · Philanthropy & Grantmaking · Micro (<$100K) · monroefoundationny.org
revenue
$0
expenses
$843K
net assets
$19.3M
employees
0
program ratio
99%
mission · from form 990

SUPPORTS THE MISSION OF UNITED JEWISH APPEAL-FEDERATION OF JEWISH PHILANTHROPIES OF NEW YORK, INC.

profile · synthesized from sources

The Monroe Foundation provides gap funding through scholarships to help students, particularly first-generation and underserved individuals, cover unmet financial needs in pursuit of undergraduate degrees at accredited U.S. institutions. The foundation focuses on enabling degree completion by awarding grants of $1,000 to $5,000 per semester after other financial aid is exhausted. It was founded in 1993 and shifted to a gap-funding model in 2017 to assist more students in graduating.

named programs · 2 · from sources

What they call their work

Donald Simon Legacy Grant
Named scholarship award supporting students, as referenced by recipient Jermaine B.
Gap Funding Program
Provides micro-grants of $1,000 to $5,000 per semester to cover unmet financial needs after all other aid is exhausted, enabling students to continue and complete their undergraduate studies
activities · 2 groups

What they do

  • Financial Aid and Scholarship Access Programs 1 activity
    • Funding gap tuition grants for college students to support degree completion
      Provides grant funding ranging from $1,000 to $5,000 per semester to cover remaining tuition costs after other aid is applied, enabling students—particularly first-generation college students—to continue their studies and graduate. These micro-grants serve as bridge financing to address unmet financial need.
  • Uncategorized 1 activity
    • Funding scholarships for college students based on academic merit and financial need
      Offers merit-based scholarships to students with a minimum GPA of 3.25 for the Fall 2026 academic term, requiring submission of transcripts, essays, letters of recommendation, and a Bursar’s Receipt to verify enrollment and unmet financial need. Includes a pre-application interview with a Foundation representative.
financials · form 990 · fy2024
revenue
Total revenue$0
Contributions & grants$0—
Program service revenue$0—
Investment income$0—
Other revenue$0
expenses
Total expenses$843K
Program expenses99%
Admin / overhead1%
Fundraising0%
Salaries & benefits$0
Grants paid out$838K
Largest expense lineCompensation
balance sheet
Total assets$20.16M
Cash$0
Investments$20.16M
Liabilities$843K
Net assets$19.32M
Liquid reserves287.1 mo
5 years on record · 2020–2024
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 2
NameTitleHours/wkCompensation
WILLIAM D SAMERS TRUSTEE 1 $425K
STANLEY BAUMBLATT SECRETARY/TREASURER/TRUSTEE 1 $262K
board members · 1
  • DAVID L MOORE — PRESIDENT/TRUSTEE
relationships · 42

Who they work with

  • Adelphi University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Alabama A&M University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Ann Marie Ferguson Government — Executive Director of the Monroe Foundation who manages scholarship applications and communications.
  • Auburn University at Montgomery Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Baruch College Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Brandeis University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Brevard College Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Cochran School of Nursing Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Columbia University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Cornell University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Delaware State University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Drexel University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Duke University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Florida A&M University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Hampton University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Howard University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Iona University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Marymount Manhattan College Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Mercy University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Monroe College Network — Collaborates with Monroe College to support student scholarship and gap funding programs.
  • Monroe University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Morehouse College Partner — Recipient institution of scholarship funding awarded by the foundation.
  • New York Institute of Technology Partner — Recipient institution of scholarship funding awarded by the foundation.
  • New York University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Northwestern University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Pace University Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Rensselaer Polytechnic Institute Partner — Recipient institution of scholarship funding awarded by the foundation.
  • School of Visual Arts Partner — Recipient institution of scholarship funding awarded by the foundation.
  • Skidmore College Partner — Recipient institution of scholarship funding awarded by the foundation.
  • State University of New York at Albany Partner — Recipient institution of scholarship funding awarded by the foundation.
+ 12 more
strategies · 5

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.