2025-09-23T08:05:28-04:00 2025-06-30 341602442 H & J CERTIFIED PUBLIC ACCOUNTANTS INC 7555 FREDLE DR STE 110 CONCORD OH 44077 990 2024-07-01 226052901 CHARLES T KING STUDENT LOAN FUND CHAR 9733763600 P O BOX 45 SHORT HILLS NJ 07078 SOCK WANG CO-TREASURER 9734675192 2025-08-18 true true ROLLAND B STANDISH P00169705 4409512997 2025-09-22 2024 2025-03-06 01:10:19Z X SOCK WANG 43640 false X CHARLESTKING.ORG X 1964 NJ TO PROVIDE LOANS TO MILLBURN TOWNSHIP NJ STUDENTS ATTENDING ACCREDITED COLLEGES, UNIVERSITIES AND TECHNICAL SCHOOLS. 15 15 0 15 0 10218 10495 0 38507 33145 0 48725 43640 0 0 0 0 0 8411 4272 8411 4272 40314 39368 1633414 1672782 0 1633414 1672782 X TO PROVIDE LOANS TO MILLBURN TOWNSHIP NJ STUDENTS ATTENDING ACCREDITED COLLEGES, UNIVERSITIES AND TECHNICAL SCHOOLS. false false 2572 THE STUDENT LOAN FUND WAS ESTABLISHED OVER EIGHTY YEARS AGO TO HELP MILLBURN TOWNSHIP STUDENTS FURTHER THEIR EDUCATIONAL GOALS. RENAMED IN 1974 TO HONOR DR. CHARLES T. KING, WHO RETIRED AS SUPERINTENDENT OF SCHOOLS AFTER 27 YEARS OF SERVICE IN THE SYSTEM, THE FUND IS SPONSORED BY THE MILLBURN TOWNSHIP CONFERENCE OF PARENTS AND TEACHERS. DUE TO THE TREMENDOUS INCREASE IN COLLEGE TUITION, THE FUND PLAYS AN IMPORTANT ROLE IN HELPING TO FINANCE STUDENTS' POSTSECONDARY SCHOOL EDUCATIONS. THE LOANS ARE NEED-BASED AND CURRENTLY INTEREST-FREE. MORE THAN 700 STUDENTS HAVE RECEIVED THEM TO DATE. THE FUND IS MAINTAINED BY PERSONAL AND BUSINESS CONTRIBUTIONS FROM WITHIN THE COMMUNITY. THROUGH THE GENEROSITY OF OUR RESIDENTS AND BUSINESSES, OVER 2.5 MILLION IN LOANS HAVE BEEN MADE TO STUDENTS THROUGHOUT THE YEARS. THE LOANS ARE DUE UPON GRADUATION AND BY "PAYING IT FORWARD" THE FUND IS CONTINUALLY REPLENISHED BY PAST RECIPIENTS TO SUPPORT STUDENTS IN THE FUTURE. LOANS ARE RENEWABLE FOR FOUR YEARS OF FULL TIME STUDIES AND REPAYABLE UPON COMPLETION OF ALL STUDIES. AS OF JUNE 30, 2025, THERE WERE 92 LOANS OUTSTANDING WITH AN AVERAGE BALANCE OF 7,400. 2572 true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 0 false false false false false false false false false false false false false false X 15 15 false false false false false false false true true false false true true true true false true false false false NJ X X SOCK WANG 9733763600 PO BOX 45 SHORT HILLS NJ 07078 X LILY LEE CHAIR 1.00 X X 0 0 0 ANDREA SPAAR SECRETARY 1.00 X X 0 0 0 CORDELIA CHAN CO-TREASURER 1.00 X X 0 0 0 SOCK WANG CO-TREASURER 1.00 X X 0 0 0 THOMAS CHASE DIRECTOR 1.00 X 0 0 0 TIFFANY FEHRENBACK DIRECTOR 1.00 X 0 0 0 SONALI GANTI DIRECTOR 1.00 X 0 0 0 DAVID GREEN DIRECTOR 1.00 X 0 0 0 JANE GOMEZ DIRECTOR 1.00 X 0 0 0 BRANDON HAASE DIRECTOR 1.00 X 0 0 0 ATUL KULKARNI DIRECTOR 1.00 X 0 0 0 ROBIN POLLINA-FINKELSTEIN DIRECTOR 1.00 X 0 0 0 MARCY SCHWARTZ DIRECTOR 1.00 X 0 0 0 ROBIN SHAINBERG DIRECTOR 1.00 X 0 0 0 NU SUWANKOSAI DIRECTOR 1.00 X 0 0 0 false false false 10495 10495 33145 33145 43640 33145 1700 1700 450 450 603 603 929 929 MISCELLANEOUS 529 529 FILING FEES 61 61 4272 2572 1700 0 110556 102770 244310 304302 664828 633838 613720 631872 1633414 1672782 0 0 X 1633414 1672782 1633414 1672782 1633414 1672782 39368 X false false false X 10522 10750 8928 10218 10495 50913 10522 10750 8928 10218 10495 50913 50913 12768 12492 13494 38507 33145 110406 161319 0.31560 0.35440 X CHARLES T. KING STUDENT LOAN FUND ("CTK") CONTINUES TO MAINTAIN A CLOSE AND CONTINUOUS RELATIONSHIP WITH THE MILLBURN, NJ COMMUNITY. DURING THE CURRENT FIVE-YEAR SUPPORT PERIOD, CTK RECEIVED OVER 30% OF ITS FINANCIAL SUPPORT FROM THE GENERAL PUBLIC AND OTHER PUBLIC CHARITIES, INCLUDING CONTRIBUTIONS FROM NUMEROUS INDIVIDUALS AND FAMILIES WITHIN THE TOWNSHIP. IN THE MOST RECENT FISCAL YEAR, CTK RECEIVED CONTRIBUTIONS FROM OVER 100 INDIVIDUAL DONORS, DEMONSTRATING BROAD-BASED COMMUNITY SUPPORT. FUNDRAISING ACTIVITIES ARE CONDUCTED THROUGH THE PUBLIC SCHOOLS AND THE BROADER COMMUNITY. APPROXIMATELY 10% OF TOTAL CONTRIBUTIONS ARE RECEIVED FROM INDEPENDENT BOARD MEMBERS, OFFICERS, OR OTHER INSIDERS. ALTHOUGH CTK'S PUBLIC SUPPORT PERCENTAGE HAS DECLINED IN RECENT YEARS DUE TO HIGHER INVESTMENT RETURNS FROM INTEREST RATE INCREASES, CONTRIBUTIONS FROM THE GENERAL PUBLIC REMAIN CONSISTENT AND DIVERSE. THE ORGANIZATION'S GOVERNING BODY IS COMPOSED ENTIRELY OF INDEPENDENT, VOLUNTEER COMMUNITY MEMBERS REPRESENTING A WIDE RANGE OF BACKGROUNDS AND INTERESTS. CTK CARRIES OUT ITS CHARITABLE MISSION BY PROVIDING NEED-BASED, INTEREST- FREE AND FEE-FREE LOANS TO MILLBURN RESIDENTS PURSUING POSTSECONDARY EDUCATION. THESE LOANS ARE PUBLICLY ADVERTISED, OPENLY AVAILABLE, AND AWARDED THROUGH A NONDISCRIMINATORY PROCESS. IN FISCAL YEAR 2024, CTK AWARDED MORE THAN TWICE THE NUMBER OF STUDENT LOANS COMPARED TO THE PRIOR YEAR, WITH THE LARGEST AGGREGATE AMOUNT EVER GRANTED BY THE ORGANIZATION, DEMONSTRATING ITS ONGOING COMMITMENT TO PROVIDING MEANINGFUL BENEFIT TO THE COMMUNITY. PART II, LINE 17A CHARLES T. KING STUDENT LOAN FUND ("CTK") CONTINUES TO MAINTAIN A CLOSE AND CONTINUOUS RELATIONSHIP WITH THE MILLBURN, NJ COMMUNITY. DURING THE CURRENT FIVE-YEAR SUPPORT PERIOD, CTK RECEIVED OVER 30% OF ITS FINANCIAL SUPPORT FROM THE GENERAL PUBLIC AND OTHER PUBLIC CHARITIES, INCLUDING CONTRIBUTIONS FROM NUMEROUS INDIVIDUALS AND FAMILIES WITHIN THE TOWNSHIP. IN THE MOST RECENT FISCAL YEAR, CTK RECEIVED CONTRIBUTIONS FROM OVER 100 INDIVIDUAL DONORS, DEMONSTRATING BROAD-BASED COMMUNITY SUPPORT. FUNDRAISING ACTIVITIES ARE CONDUCTED THROUGH THE PUBLIC SCHOOLS AND THE BROADER COMMUNITY. APPROXIMATELY 10% OF TOTAL CONTRIBUTIONS ARE RECEIVED FROM INDEPENDENT BOARD MEMBERS, OFFICERS, OR OTHER INSIDERS. ALTHOUGH CTK'S PUBLIC SUPPORT PERCENTAGE HAS DECLINED IN RECENT YEARS DUE TO HIGHER INVESTMENT RETURNS FROM INTEREST RATE INCREASES, CONTRIBUTIONS FROM THE GENERAL PUBLIC REMAIN CONSISTENT AND DIVERSE. THE ORGANIZATION'S GOVERNING BODY IS COMPOSED ENTIRELY OF INDEPENDENT, VOLUNTEER COMMUNITY MEMBERS REPRESENTING A WIDE RANGE OF BACKGROUNDS AND INTERESTS. CTK CARRIES OUT ITS CHARITABLE MISSION BY PROVIDING NEED-BASED, INTEREST- FREE AND FEE-FREE LOANS TO MILLBURN RESIDENTS PURSUING POSTSECONDARY EDUCATION. THESE LOANS ARE PUBLICLY ADVERTISED, OPENLY AVAILABLE, AND AWARDED THROUGH A NONDISCRIMINATORY PROCESS. IN FISCAL YEAR 2024, CTK AWARDED MORE THAN TWICE THE NUMBER OF STUDENT LOANS COMPARED TO THE PRIOR YEAR, WITH THE LARGEST AGGREGATE AMOUNT EVER GRANTED BY THE ORGANIZATION, DEMONSTRATING ITS ONGOING COMMITMENT TO PROVIDING MEANINGFUL BENEFIT TO THE COMMUNITY. FORM 990, PAGE 1, ITEM B ADDITON OF "FACTS AND CIRCMSTANCES" NARRATIVE ON SCHEDULE A FORM 990, PAGE 2, PART III, LINE 4A THE STUDENT LOAN FUND WAS ESTABLISHED OVER EIGHTY YEARS AGO TO HELP MILLBURN TOWNSHIP STUDENTS FURTHER THEIR EDUCATIONAL GOALS. RENAMED IN 1974 TO HONOR DR. CHARLES T. KING, WHO RETIRED AS SUPERINTENDENT OF SCHOOLS AFTER 27 YEARS OF SERVICE IN THE SYSTEM, THE FUND IS SPONSORED BY THE MILLBURN TOWNSHIP CONFERENCE OF PARENTS AND TEACHERS. DUE TO THE TREMENDOUS INCREASE IN COLLEGE TUITION, THE FUND PLAYS AN IMPORTANT ROLE IN HELPING TO FINANCE STUDENTS' POSTSECONDARY SCHOOL EDUCATIONS. THE LOANS ARE NEED-BASED AND CURRENTLY INTEREST-FREE. MORE THAN 700 STUDENTS HAVE RECEIVED THEM TO DATE. THE FUND IS MAINTAINED BY PERSONAL AND BUSINESS CONTRIBUTIONS FROM WITHIN THE COMMUNITY. THROUGH THE GENEROSITY OF OUR RESIDENTS AND BUSINESSES, OVER 2.5 MILLION IN LOANS HAVE BEEN MADE TO STUDENTS THROUGHOUT THE YEARS. THE LOANS ARE DUE UPON GRADUATION AND BY "PAYING IT FORWARD" THE FUND IS CONTINUALLY REPLENISHED BY PAST RECIPIENTS TO SUPPORT STUDENTS IN THE FUTURE. LOANS ARE RENEWABLE FOR FOUR YEARS OF FULL TIME STUDIES AND REPAYABLE UPON COMPLETION OF ALL STUDIES. AS OF JUNE 30, 2025, THERE WERE 92 LOANS OUTSTANDING WITH AN AVERAGE BALANCE OF 7,400. FORM 990, PAGE 6, PART VI, LINE 11B PRIOR TO FILING, THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S OFFICER RESPONSIBLE FOR COORDINATING THE PREPARATION OF THE FORM WITH THE PAID PREPARER. AFTER REVIEW OF THE INTIAL DRAFT OF THE RETURN, THE OFFICER FORWARDS A COPY TO THE FULL BOARD PRIOR TO FILING. A BOARD OFFICER AUTHORIZES THE PAID PREPARER TO ELECTRONICALLY FILE THE 990. FORM 990, PAGE 6, PART VI, LINE 12C BOARD MEMBERS ANNUALLY REVIEW AND SIGN OFF AS HAVING OR NOT HAVING A CONFLICT OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FORM 990 ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FORM 990 CAN ALSO BE FOUND ON SEVERAL PUBLICLY-ACCESSIBLE WEBSITES.