2024-05-14T12:17:56-05:00 2023-06-30 420714325 RSM US LLP 920 5th Avenue Suite 2800 Seattle WA 98104 990 2022-07-01 830403915 The Tower Foundation of San Jose State University TOWE 4089241765 One Washington Square San Jose CA 951920183 Robin Reynolds COO 4089241765 2024-05-10 1 Robin Reynolds 999009999 1 Sue Robison P00560072 2062814444 2024-05-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Robin Reynolds One Washington Square San Jose CA 951920183 73904463 0 X www.sjsu.edu/towerfoundation X 2004 CA Assistance to academic programs & facilities, student scholarships, faculty, & athletics programs. 24 22 601 22 -804919 0 14794585 16646377 4927416 5541867 11347509 5177211 1490318 1183574 32559828 28549029 4171403 3897924 0 0 10068684 12750337 0 0 0 8433133 10022365 22673220 26670626 9886608 1878403 280294745 300067577 46627617 49274518 233667128 250793059 The Tower Foundation's mission is to encourage philanthropy amoung SJSU alumni and friends by providing high quality, reliable, and responsive charitable giving services, donor stewardship, and accurate accounting for all gifts. 0 0 21710124 3897924 6665985 The Tower Foundation of San Jose State University is organized exclusively for educational purposes of promoting and advancing the objectives of San Jose State University. Primary purposes include providing assistance to academic programs, libraries, classrooms, laboratories, student scholarships, faculty fellowships and professorships, faculty research and community projects, and athletics programs. 21710124 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 113 0 1 601 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 24 22 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 0 0 0 CA X X Amanda Shavers 4089241765 One Washington Square San Jose CA 951920183 X Alison McKee Academic Senate Chair 0.50 40.00 X 0 129363 54703 Virginia Lehmkul Dakhwe Staff/Faculty Rep 0.50 40.00 X 0 104458 64944 Lisa Millora CEO (until 6/14/23) 30.00 10.00 X X 0 294402 69906 Tom McCarron CEO 30.00 10.00 X X 0 0 0 Steve Perez President (until 1/15/23) 0.50 40.00 X X 0 402261 120164 Cynthia Teniente-Matson President 0.50 40.00 X X 0 0 0 Jeff Ricci Treasurer 0.50 X X 0 0 0 Eric Kelly Chair 0.50 X X 0 0 0 Phil Boyce Vice Chair 0.50 X X 0 0 0 Chrissy Chang Alumni Board President 0.50 X 0 0 0 Connie Moore Founding/Immediate Past Chair 0.50 X 0 0 0 Irvin Wong Student Rep 0.50 X 0 0 0 Kevin Swanson Athletic Directors Council 0.50 X 0 0 0 Sandy Swanson Athletic Directors Council 0.50 X 0 0 0 Colleen B Wilcox Director 0.50 X 0 0 0 Dana C Ditmore Director 0.50 X 0 0 0 Edward Oates Director 0.50 X 0 0 0 Gary Radine Director 0.50 X 0 0 0 Gary J Sbona Director (until 12/31/22) 0.50 X 0 0 0 Joe Pinto Director (until 9/16/22) 0.50 X 0 0 0 John W Baird Director 0.50 X 0 0 0 Les Francis Director 0.50 X 0 0 0 Marko Trapani Director 0.50 X 0 0 0 Peter V Ueberroth Director 0.50 X 0 0 0 Richard Conniff Director 0.50 X 0 0 0 Steve Caplan Director 0.50 X 0 0 0 Wanda Hendrix Director 0.50 X 0 0 0 William E Barton Director 0.50 X 0 0 0 Daniele LeCesne COO/Secretary (until 9/30/22) 40.00 X 0 215356 74664 Robin Reynolds COO/Secretary 40.00 X 0 21708 7061 Brent Brennan Head Coach, Football 1.00 40.00 X 1296000 336961 124787 Timothy Miles Head Coach, Men's Basketba 1.00 40.00 X 388758 336539 71213 Kevin McGiven Assistant Coach, Football 0.50 40.00 X 149088 216671 72003 Derrick Odum Assistant Coach, Football 0.50 40.00 X 134136 223305 71914 Jeffrey Konya Director of Athletics 1.00 40.00 X 396455 268320 87982 Marie Tuite Former Athletic Director 0.00 X 102500 0 0 2466937 2549344 819341 12 1 1 0 RSM US LLP 5155 Paysphere Circle Chicago IL 60674 Assurance Services 110587 1 16646377 271741 16646377 Reimbursements from SJSU/Auxiliar 611710 5541867 5541867 5541867 3861448 -804919 4666367 46671197 45355434 1315763 1315763 1315763 Flex Benefits Revenue 611710 1124118 1124118 59456 59456 1183574 28549029 6665985 -804919 6041586 3834219 3834219 63705 63705 9777536 7271301 2506235 33352 32352 1000 2492347 1633786 858561 447102 426888 20214 12895 12895 349670 349670 871277 871277 1798962 1607643 191319 4777 4777 2694449 2694449 43737 10361 33376 1753678 1747651 6027 585238 571039 14199 1048249 1048249 38138 38138 28766 28766 Taxes and Licenses 420060 418750 1310 Dues and Subscriptions 267839 240324 27515 Student Support 104630 104630 26670626 21710124 4960502 0 34041896 35740212 18548864 17671632 5017474 4214883 21257489 2279478 10920 424527 42040489 0 20411961 42040489 167381342 182635743 2995519 3097180 9449022 10666032 1180258 1297401 280294745 300067577 591478 622912 42470000 42470000 3566139 6181606 46627617 49274518 X 233667128 250793059 0 0 0 0 233667128 250793059 280294745 300067577 X 1878403 15702959 -455431 X X 0 1 X 1 0 X 17226056 14499094 18088607 14794585 16646377 81254719 17226056 14499094 18088607 14794585 16646377 81254719 2491929 78762790 3574984 3658769 2446752 694844 3861448 14236797 688895 0 38118 875452 0 1602465 1490318 1183574 2673892 99767873 27575925 0.78950 0.79030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 167381342 -2920089 19031594 847254 182645593 197133502 -3628199 -25324813 799148 167381342 148747340 -49467 49150000 714369 197133502 153212206 -2921322 -910318 633226 148747340 150056030 -3686217 7429657 587265 153212206 0.18930 0.74530 0.06540 0 0 42040489 42040489 42040489 Funds Held in Trust Liability - Current 152975 Funds Held in Trust Liability - Noncurrent 1814561 Due to Related Organizations 4214070 6181606 X 43237396 15702959 15702959 27534437 1014592 1014592 28549029 26111465 -559161 -559161 26670626 0 26670626 Part V, Line 4: The Foundation receives donations restricted to endowment by donors. Such donations are invested in accordance with the Foundation's investment policy. The endowment portfolio is comprised of a blend of investments and is professionally managed. The finance and investment committee of the board of directors is responsible for oversight of the investment portfolio, monitoring performance of the investments and approving new fund managers. The endowment supports a vast array of student scholarships as well as vibrant programs throughout San Jose State University. Part X, Line 2: The Foundation is exempt from federal income taxes under Section 501(c)(3) of the IRC as a nonprofit organization whereby only unrelated business income is subject to federal income tax. Accordingly, no provision for income taxes has been recorded. Form 990, filed by the Foundation, is subject to examination by the Internal Revenue Service up to three years from the extended due date of each return. Generally, the Foundation is no longer subject to income tax examinations by the U.S. federal, state or local tax authorities for years before 2020. Part XI, Line 4b - Other Adjustments: Transfers from Affiliates 1,014,592. Part XII, Line 2d - Other Adjustments: Uncollectible Pledges 455,431. Transfers from Affiliates -1,014,592. Central America and the Caribbean 0 0 INVESTMENTS 667565 0 0 0 0 0 0 667565 0 667565 1 0 0 1 1 0 Part III Accounting Method: 1 San Jose State University One Washington Square San Jose CA 95192 770414438 3719924 0 Scholarships/Awards 1 0 Scholarships/Awards 22 63705 Part I, Line 2: The Tower Foundation funds scholarships that are awarded to students of San Jose State University (SJSU). The scholarships are directed by SJSU's financial aid and scholarship office and its athletics department, which evaluate applicants to ensure they meet the criteria stipulated by the donor. The remaining cash grants relate to various student awards, other than scholarships, that are distributed and monitored by various departments of SJSU. 0 0 0 0 0 0 0 0 0 Brent Brennan Head Coach, Football 1296000 333371 0 3500 0 90 0 93013 0 31774 1296000 461748 0 0 Timothy Miles Head Coach, Men's Basketba 388758 332781 0 3500 0 258 0 39439 0 31774 388758 407752 0 0 Jeffrey Konya Director of Athletics 396455 264820 0 3500 0 0 0 76070 0 11912 396455 356302 0 0 Steve Perez President (until 1/15/23) 0 376315 0 0 0 25946 0 91992 0 28172 0 522425 0 0 Kevin McGiven Assistant Coach, Football 149088 213081 0 3500 0 90 0 40229 0 31774 149088 288674 0 0 Derrick Odum Assistant Coach, Football 134136 219667 0 3500 0 138 0 40140 0 31774 134136 295219 0 0 Lisa Millora CEO (until 6/14/23) 0 290842 0 3500 0 60 0 39439 0 30467 0 364308 0 0 Daniele LeCesne COO/Secretary (until 9/30/22) 0 211460 0 3500 0 396 0 64441 0 10223 0 290020 0 0 Alison McKee Academic Senate Chair 0 125863 0 3500 0 0 0 34555 0 20148 0 184066 0 0 Virginia Lehmkul Dakhwe Staff/Faculty Rep 0 100958 0 3500 0 0 0 32708 0 32236 0 169402 0 0 Marie Tuite Former Athletic Director 102500 0 0 0 0 0 0 0 0 0 102500 0 0 0 Part I, Line 3 The Organization's CEO is compensated by San Jose State University (SJSU), a related organization. SJSU establishes the compensation of the Organization's CEO based on guidelines of the University and through the use of a compensation survey or study. X 10 271741 FMV 0 0 1 0 Part I, Column (b): Reporting the number of contributions. Form 990, Part VI, Section A, line 7a The San Jose State University President, who is a board director of the Foundation, has the sole authority to appoint the board members for the Foundation. Form 990, Part VI, Section B, line 11b The Tower Foundation's audit committee reviews the 990 Form in detail with Tower management. Minutes kept for the audit committee document the process. Form 990, Part VI, Section B, line 12c The conflict of interest policy and related disclosure statement is reviewed on an annual basis at the Tower Foundation audit committee meeting in September. The committee recommends any change to the policy and disclosure form. This policy and the disclosure form are then presented at the December meeting to Tower board members. All board members are required to complete the disclosure form and the forms are collected by Tower management. If there are any closed conflicts, they addressed at the subsequent audit committee meeting and presented to the board as appropriate. Form 990, Part VI, Section B, line 15 The Organization's CEO, officers and key employees are generally compensated by San Jose State University, a related organization of the Tower Foundation. Therefore, the Tower Foundation has not established compensation policies for these individuals. However, San Jose State University determines compensation for the Tower Foundation's CEO, officers and key employees based on review and approval by independent persons and comparability data. Form 990, Part VI, Section C, line 19 Audited financial statements and conflict of interest policy are available on the organization's website. Governing documents are available upon request. Form 990, Part VII, Section A, Line 1A, Column D: CSU policy requires that stipend payments by an auxiliary to a CSU employee be made through the auxiliary's payroll. Accordingly, some payments made to university employees on behalf of SJSU are reflected as compensation from the Tower Foundation on Form 990, Part VII, Section A, Line 1A, Column D. Form 990, Part XI, line 9: Uncollectible Pledges -455,431. Form 990, Part XII, Line 2c: The Organization's process for overseeing the audit of the financial statements and the selection of an independent accountant has not changed from prior years. SJSU Tower Real Estate Fund LLC One Washington Square San Jose CA 951920183 830403915 Real Estate Management CA 0 0 The Tower Foundation of San Jose State University Hilo Project LLC One Washington Square San Jose CA 951920183 263694655 Housing Investment HI 0 0 The Tower Foundation of San Jose State University San Jose State University One Washington Square San Jose CA 95192 770414438 Education Institute CA 115 N/A 0 Associated Students of San Jose State University One Washington Square San Jose CA 95192 941156305 Aux. Services CA 501(c)(3) Line 5 San Jose State University 1 San Jose State University Research Foundation One Washington Square San Jose CA 95192 946017638 Aux. Services CA 501(c)(3) Line 7 San Jose State University 1 Spartan Shops Inc SJSU One Washington Square San Jose CA 95192 941392424 Aux. Services CA 501(c)(3) Line 12a, I San Jose State University 1 Student Union of San Jose State University One Washington Square San Jose CA 95192 942830732 Aux. Services CA 501(c)(3) Line 12c, III-FI San Jose State University 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 1 Associated Students San Jose State University R 336611 Cash San Jose State University Research Foundation R 66133 Cash