2024-05-14T08:53:21+00:00 2023-06-30 990 2022-07-01 222968912 Forrestal Investment Corporation FORR 6092583080 701 Carnegie Center Suite 445 Princeton NJ 08540 Kenneth Molinaro Controller 2024-05-14 Kenneth Molinaro 999009999 2022 2023-04-26 12:10:37Z Andrew K Golden Suite 400-22 Chambers St Princeton NJ 08542 0 false X X 1988 NJ Title Holding company for investments for the benefit of The Trustees of Princeton University, an educational institution exempt from tax under IRC Section 501(c)(3). 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Title Holding company for investments for the benefit of The Trustees of Princeton University, an educational institution exempt from tax under IRC Section 501(c)(3). false false n/a 0 false false false false false false false false false false false false false true false true false false false false false false false false false false false true false false false false false false false false false false false true false false true 0 0 0 false false false false false false false false X 4 0 false false false false false true false true false false true false false false true false X Kenneth Molinaro Princeton University 6092583080 701 Carnegie Center Suite 445 Princeton NJ 08540 Andrew Golden President, Trustee 1.0 50.0 X X 0 6625550 3695240 James Matteo Vice President, Trustee 1.0 50.0 X X 0 619226 69399 Jonathan Erickson Secretary, Trustee 1.0 50.0 X X 0 2984711 1318519 Kenneth Molinaro Treasurer 1.0 50.0 X 0 261294 61429 0 10490781 5144587 0 false true false 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X false true X false false 0 0 X Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE ORGANIZATION'S FINANCIAL STATEMENTS FOR THE YEAR WERE ISSUED ON A CONSOLIDATED BASIS WITH THE TRUSTEES OF PRINCETON UNIVERSITY, A SUPPORTED ORGANIZATION.The University is a not-for-profit organization as described in Section 501(c)(3) of the Internal Revenue Code and is exempt from income taxes on related income. The University files U.S. federal and various state and local tax returns. The statute of limitations on the University's U.S. federal tax returns remains open for the years ended June 30, 2020 through the present. On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was enacted. TCJA impacts the University in several ways, including imposing excise taxes on certain excess compensation and net investment income, establishing new rules for calculating unrelated business taxable income. The University has reflected the tax assets, liabilities, and payables in the consolidated financial statements based on reasonable estimates under the regulatory guidance on the TCJA. ASC 740, Income Taxes, prescribes the minimum recognition threshold that a tax position must meet in connection with accounting for uncertainties in income tax positions taken, or expected to be taken, by an entity before being measured and recognized in the consolidated financial statements. The University continues to evaluate its tax positions pursuant to the principles of ASC 740, and has determined that there is no material impact on the University's consolidated financial statements. false true false Andrew Golden President, Trustee 0 1078909 0 5426202 0 120439 0 3661851 0 33389 0 10320790 0 5426202 James Matteo Vice President, Trustee 0 546430 0 0 0 72796 0 37371 0 32028 0 688625 0 0 Jonathan Erickson Secretary, Trustee 0 664362 0 2252628 0 67721 0 1233056 0 85463 0 4303230 0 1847368 Kenneth Molinaro Treasurer 0 256633 0 0 0 4661 0 31705 0 29724 0 322723 0 0 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan The President of and the Managing Directors of Princeton University Investment Company, a related organization University Department, participated in and received compensation from nonqualified unfunded 457(f) incentive compensation plans which provide for the deferral of compensation (which amount can increase or decrease substantially depending on the performance of certain market benchmarks), until such compensation is no longer subject to a substantial risk of forfeiture. Part II Deferred compensation from the related organization includes unvested, incentive compensation earned for the period 7/1/22-6/30/23. Form 990, Part VI, Line 12a Conflict of Interest The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's conflict of interest policy. Form 990, Part VI, Line 13 whistleblower policy The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's whistleblower policy. Form 990, Part VI, Line 14 document retention and destruction policy The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's document retention and destruction policy. Form 990, Part VI, Line 16b joint venture policy The Trustees of Princeton University, a related entity that controls this organization, also provides oversight and administrative services. This organization is subject to the University's joint venture policy. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The Trustees of Princeton University, a related entity that controls this organization, has delegated to the Princeton University Investment Company Board of Directors the annual election of the organization's board of directors, who then selects and approves the organization's officers. Form 990, Part VI, Line 11b Review of form 990 by governing body The Form 990 is prepared by Princeton University's Office of Finance & Treasury, a related entity and is reviewed by management. Prior to filing the tax return, a copy of the complete form 990 is electronically sent to each member of the governing body allowing time for review. Form 990, Part VI, Line 19 Required documents available to the public The organization complies with all public disclosure laws. All public information is available upon request. Form 990, Part VII, Section A Column B The officers and trustees of Forrestal Investment Corporation are employed by the Trustees of Princeton University, a related organization. The average hours per week that these officers and trustees devote to the related organization during the week if fifty (50) hours per week. The Trustees of Princeton University 701 Carnegie Center 445 Princeton NJ NJ 08540 210634501 Education and Research NJ 501(c)(3) 2 NA false false false false false false false false false false false false false false true true false false false false