2025-05-06T11:52:11-05:00 2024-06-30 135565207 KPMG LLP 1735 MARKET STREET PHILADELPHIA PA 19103 990 2023-07-01 221487354 THE TRUSTEES OF THE STEVENS INSTITUTE OF TECHNOLOGY TRUS 2012168761 ONE CASTLE POINT ON HUDSON HOBOKEN NJ 07030 LOUIS MAYER CFO, VP FOR FIN & TREASURER 2012168761 2025-04-28 1 0 PHILLIP GROFF P01247783 2672567000 2025-04-25 2023 2025-03-06 01:10:19Z STEVENS INSTITUTE OF TECHNOLOGY LOUIS MAYER ONE CASTLE PT ON HUDSON HOBOKEN NJ 07030 638040480 0 X WWW.STEVENS.EDU X 1870 NJ THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE EDUCATIONAL SERVICES, SEE SCHEDULE O. 34 28 4396 839 192011 0 16833337 23047335 472932747 482134852 12442094 17920798 3675896 13566810 505884074 536669795 128419237 129554579 0 0 196603981 212362436 100769 284739 6630717 151781840 167300710 476905827 509502464 28978247 27167331 1006999231 1056523320 428021172 420497769 578978059 636025551 X SEE SCHEDULE O 0 0 356961436 129554579 387660414 EDUCATIONAL INSTRUCTION: IN THE ACADEMIC YEAR 2023-2024, STEVENS' ENROLLMENT WAS 4,092 UNDERGRADUATE STUDENTS AND 4,750 GRADUATE STUDENTS. 871 STUDENTS GRADUATED WITH BACHELOR OF ENGINEERING, SCIENCE, BUSINESS OR ARTS DEGREES, 2,300 STUDENTS RECEIVED MASTER'S IN ENGINEERING, SCIENCE OR BUSINESS ADMINISTRATION. 72 PHD DEGREES WERE ALSO CONFERRED. IN ADDITION, STEVENS COLLABORATED WITH NUMEROUS DOMESTIC AND INTERNATIONAL UNIVERSITIES AND OTHER EDUCATIONAL PROGRAMS TO PROVIDE COURSES AND TRAINING TO INTERNATIONAL STUDENTS. STEVENS EMPHASIZES INNOVATION AND TEACHES ENTREPRENEURSHIP THROUGHOUT ITS CURRICULUM WITH THE AIM OF ENABLING THE INTEGRATION OF TECHNOLOGICAL AND MARKET KNOWLEDGE. 58552958 65481110 RESEARCH: THE U.S. DEPARTMENT OF DEFENSE SUPPORTS STEVENS LEADERSHIP OF THE SYSTEMS ENGINEERING RESEARCH CENTER (SERC), A UNIVERSITY AFFILIATED RESEARCH CENTER (UARC). THE NATIONAL SCIENCE FOUNDATION SUPPORTS THE CENTER FOR RESEARCH FOR ADVANCING FINANCIAL TECHNOLOGIES, AN INDUSTRY-UNIVERSITY COOPERATIVE RESEARCH CENTER (IUCRC). STEVENS IS RECOGNIZED BY THE DEPARTMENT OF HOMELAND SECURITY AS A NATIONAL CENTER OF EXCELLENCE IN INFORMATION ASSURANCE AS IT SUPPORTS THE ACTIVITIES OF THE CENTER FOR THE ADVANCEMENT OF SECURE SYSTEMS AND INFORMATION ASSURANCE (CASSIA). 49525219 39945578 STUDENT LIFE: THE UNIVERSITY MAINTAINS A 55 ACRE CAMPUS IN HOBOKEN, NEW JERSEY AND PROVIDES STUDENTS WITH ON AND OFF CAMPUS HOUSING AS WELL AS SEVERAL DINING FACILITIES. CLOSE INTERACTIONS BETWEEN PROFESSORS AND STUDENTS ALLOW FOR GREATER ACADEMIC AND SOCIAL DEVELOPMENT. THERE ARE OVER 153 CLUBS, ORGANIZATIONS AND VARSITY SPORTS THAT OFFER THE STUDENTS AMPLE OPPORTUNITY TO PARTICIPATE, BROADEN AND ENRICH THEIR STUDENT LIFE. THERE ARE ALSO 22 FRATERNITIES AND SORORITIES ON CAMPUS. THE S.C. WILLIAMS LIBRARY SERVES AS THE UNIVERSITY'S INTELLECTUAL, CULTURAL AND SOCIAL CENTER, CAPITALIZING ON A RESOURCEFUL STAFF AND NEW TECHNOLOGIES TO FOSTER A STIMULATING ENVIRONMENT FOR TEACHING, LEARNING AND SCIENTIFIC DISCOVERY. 465039613 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 7529 0 1 4396 1 1 1 0 0 0 0 1 1 0 0 1 0 X 34 28 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD MA MI NH NC OR PA SC X X LOUIS MAYER EDD 2012168761 5 MARINE VIEW PLAZA SUITE 501 HOBOKEN NJ 07030 NARIMAN FARVARDIN PRESIDENT/TRUSTEE 55.00 0.00 X X 1221028 0 33526 DIBYENDU DIBS SARKAR TRUSTEE/PROFESSOR AS OF 5/21/24 55.00 0.00 X 243388 0 51994 R ELAINE HENRY TRUSTEE/PROFESSOR 55.00 0.00 X 211068 0 31611 MO MANSOURI TRUSTEE/ASSOC PROF TO 5/21/2024 55.00 0.00 X 177437 0 43629 CHRISTOPHER J FRANK TRUSTEE/ADJUNCT AS OF 12/1/23 1.00 0.00 X 6000 0 34 MEHRAB H SYED TRUSTEE 1.00 0.00 X 3015 0 0 JARED W DONNELLY TRUSTEE AS OF 5/21/24 1.00 0.00 X 867 0 0 STEPHEN T BOSWELL CHAIRMAN/TRUSTEE 3.00 0.00 X X 0 0 0 SALEEL V AWSARE TRUSTEE 1.00 0.00 X 0 0 0 LAWRENCE T BABBIO JR TRUSTEE 1.00 0.00 X 0 0 0 MARISSA BROCK TRUSTEE AS OF 5/21/24 1.00 0.00 X 0 0 0 DEVON E BROOKS TRUSTEE 1.00 0.00 X 0 0 0 CHARLES J BUSCARINO TRUSTEE 1.00 0.00 X 0 0 0 MARY ANNE CANNON TRUSTEE 1.00 0.00 X 0 0 0 KAREN S CAROLONZA TRUSTEE 1.00 0.00 X 0 0 0 PAM P CHENG TRUSTEE 1.00 0.00 X 0 0 0 THOMAS A CORCORAN TRUSTEE 1.00 0.00 X 0 0 0 PHILIP P CROWLEY TRUSTEE 1.00 0.00 X 0 0 0 JOHN R DEARBORN TRUSTEE 1.00 0.00 X 0 0 0 JOSEPH DEL GUERCIO TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM W DESTLER TRUSTEE TO 12/1/23 1.00 0.00 X 0 0 0 JOSEPH G DIPOMPEO TRUSTEE 1.00 0.00 X 0 0 0 MANUEL S ESCOBEDO TRUSTEE 1.00 0.00 X 0 0 0 HERMES O GONZALEZ-BELLO TRUSTEE 1.00 0.00 X 0 0 0 JOHN SEAN J HANLON IV TRUSTEE 1.00 0.00 X 0 0 0 JOELLE M HINDS TRUSTEE TO 5/21/24 1.00 0.00 X 0 0 0 EMILY R KOVELESKY TRUSTEE 1.00 0.00 X 0 0 0 A MICHAEL LIPPER TRUSTEE 1.00 0.00 X 0 0 0 LISA M MASCOLO TRUSTEE 1.00 0.00 X 0 0 0 THOMAS J NATHANSON TRUSTEE 1.00 0.00 X 0 0 0 SAMUEL P RECKFORD TRUSTEE 1.00 0.00 X 0 0 0 VIRGINIA P RUESTERHOLZ TRUSTEE 1.00 0.00 X 0 0 0 JOHN A SCHEPISI TRUSTEE 1.00 0.00 X 0 0 0 CHARLES H SHOTMEYER TRUSTEE AS OF 12/1/23 1.00 0.00 X 0 0 0 LOUIS A STEINBERG TRUSTEE 1.00 0.00 X 0 0 0 J SCOTT SWENSEN TRUSTEE 1.00 0.00 X 0 0 0 HAILEY TANNER TRUSTEE TO 5/21/24 1.00 0.00 X 0 0 0 PAUL VON AUTENRIED TRUSTEE AS OF 12/1/23 1.00 0.00 X 0 0 0 LOUIS J MAYER VP OF FINANCE/ TREASURER, CFO 55.00 0.00 X 476700 0 55711 KATHY L SCHULZ VP & GENERAL COUNSEL/SECRETARY 55.00 0.00 X 482512 0 43283 JOSEPH E CASSIDY AVP FINANCE/ASSIST TREAS 55.00 0.00 X 277784 0 25300 TONIANN BIONDOLILLO ASST SEC/EXEC ASST 55.00 0.00 X 103694 0 19979 JIANMIN QU PROVOST & SVP FOR ACADEMIC AFFAIRS 55.00 0.00 X 562536 0 55711 GREGORY PRASTACOS DEAN 55.00 0.00 X 511191 0 62760 EDMUND SYNAKOWSKI VICE PROVOST 55.00 0.00 X 438835 0 55711 CONSTANTIN CHASSAPIS SR. VICE PROVOST 55.00 0.00 X 427745 0 55711 JEAN ZU DEAN 55.00 0.00 X 432665 0 43283 LAURA ROSE VP FOR DEV/ALUM 55.00 0.00 X 400184 0 55381 ELISABETH MCGRATH VP FOR UNIV RELATIONS 55.00 0.00 X 417356 0 31141 TEJASH PATEL CIO, VP INFORMATION TECHNOLOGY 55.00 0.00 X 377681 0 26926 ROBERT MAFFIA VP FOR FACILITIES/OPERATIONS 55.00 0.00 X 340447 0 62760 SHERAINE GILLIAM CHRO, VP FOR HUMAN RESOURCES 55.00 0.00 X 360648 0 35883 ANTHONY BARRESE INTERIM DEAN 55.00 0.00 X 321070 0 54912 CINDY CHIN VICE PRESIDENT FOR ENROLLMENT MGMT 55.00 0.00 X 308490 0 20812 SARA KLEIN VICE PRESIDENT FOR STUDENT AFFAIRS 55.00 0.00 X 280351 0 38634 DINESH VERMA PROFESSOR/ EXEC DIR OF SERC 55.00 0.00 X 400709 0 59495 DAVID ZENG VICE PROVOST 55.00 0.00 X 403700 0 52411 GEORGE KORFIATIS PROFESSOR 55.00 0.00 X 385629 0 55746 MUHAMMAD HAJJ DEPARTMENT CHAIR 55.00 0.00 X 356857 0 55746 CHRISTOS CHRISTODOULATOS PROFESSOR 55.00 0.00 X 338963 0 55746 CHRISTOPHE PIERRE FORMER KEY 55.00 0.00 X 372983 0 55746 DILHAN KALYON FORMER KEY 55.00 0.00 X 259579 0 46845 DAWN DA SILVA FORMER AVP 55.00 0.00 X 205556 0 18540 MICHAEL PARENTE FORMER VP - IT 55.00 0.00 X 196831 0 16699 11303499 0 1321666 468 1 1 0 COMPASS GROUP USA 417632 2400 YORKMONT RD CHARLOTTE NC 28217 DINING SEVICES PROVIDER 13444693 TISHMAN CONSTRUCTION 30 KNIGHTSBRIDGE ROAD BLDG 5 2ND F PISCATAWAY NJ 08854 BUILDING CONTRACTOR 11219674 NOODLE PARTNERS INC 860 BROADWAY NEW YORK NY 10003 ON-LINE COURSE PROVIDER 7030787 UG2 LLC 116 HUNTINGTON AVENUE 12TH FLOOR BOSTON MA 02116 CLEANING SERVICES 4956844 SHI INTERNATIONAL CORP 290 DAVIDSON AVE SOMERSET NJ 08873 IT PRODUCT/SERVICE PROVIDER 2885077 185 60138 3241637 19745560 3081057 23047335 TUITION AND FEES 611600 378864292 378864292 RESEARCH REVENUE 541610 64439209 64439209 STUDENT HOUSING 611710 25391066 25391066 STUDENT DINING 611710 13088583 13088583 TECHNICAL LEADERSHIP 611600 351702 351702 482134852 13321501 52497 13269004 56151 0 56151 56151 56151 101290583 4599297 96741355 4549228 4549228 50069 4599297 4599297 60252 60138 80102 -19850 -19850 STUDENT HEALTH INS 900099 7156720 7156720 COMMISION ON DINING 900099 895513 895513 STUDENT CLUBS, SPORTS 900099 512118 512118 4966158 2387899 139514 2438745 13530509 536669795 493087102 192011 20343347 129554579 129554579 8712333 3479697 4816073 416563 164012355 148349575 12032344 3630436 9083800 7984884 886079 212837 20732016 18223955 2022303 485758 9821932 8633721 958080 230131 1457627 990500 457257 9870 657267 657267 252933 252933 284739 284739 2273057 2273057 38183929 30941819 6780879 461231 8658298 7748653 908334 1311 2883727 1867139 768822 247766 9845916 8881673 918184 46059 3397427 2796272 580610 20545 5547563 5291272 190777 65514 1190339 918511 263113 8715 12150943 11747287 403656 25903242 25042732 860510 2494206 5391 2488800 15 RESEARCH CONTRACTS 22801107 22800770 337 REPAIRS & MAINTENANCE 10403398 10387452 0 15946 MATERIALS AND SUPPLIES 5135957 4952878 111218 71861 HOSPITALITY 4918592 4215061 331920 371611 9145182 7952735 1142638 49809 509502464 465039613 37832134 6630717 10811697 962871 71042205 60074297 8558206 8735074 20058773 23373599 19289754 18785689 817996767 254739061 545427414 563257706 230657255 263334628 90392024 103946117 10761903 14053339 1006999231 1056523320 37529084 35508819 21870362 24505510 355320257 348551266 13301469 11932174 428021172 420497769 X 290088664 308433521 288889395 327592030 578978059 636025551 1006999231 1056523320 X 27167331 29818591 61570 X 0 1 X 1 1 1 X 12278858 22451805 26324307 16833337 23047335 100935642 12278858 22451805 26324307 16833337 23047335 100935642 9768188 91167454 7626495 4171209 7693089 9052392 13325155 41868340 484773 1248239 1587250 1103703 2498997 6922962 149726944 2086227183 0.60890 0.53960 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING - 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 37,870. 2022 AMOUNT: $ 173,436. 2023 AMOUNT: $ 60,252. OTHER INCOME - 2019 AMOUNT: $ 484,773. 2020 AMOUNT: $ 1,248,239. 2021 AMOUNT: $ 1,549,380. 2022 AMOUNT: $ 930,267. 2023 AMOUNT: $ 2,438,745. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 320979 0 0 320979 0 PART II-B, LINE 1: THE STEVENS INSTITUTE OF TECHNOLOGY HIRED OUTSIDE CONSULTANTS TO UNDERTAKE LOBBYING ACTIVITIES RELATED TO EDUCATIONAL AND OTHER MISSION-RELATED INITIATIVES ON ITS BEHALF. STAFF PARTICIPATES IN ACTIVITIES SUCH AS MEETING WITH NEW JERSEY AND HOBOKEN ELECTED AND APPOINTED OFFICIALS TO PROMOTE STEVENS AND ITS PRIORITY PROGRAMS AND INITIATIVES SUCH AS CAPITAL PROJECTS, RESEARCH, ECONOMIC AND CORPORATE ENGAGEMENT, AND VARIOUS SPECIAL INITIATIVES/NEEDS. THEY MONITOR AND PROVIDE FEEDBACK ON LEGISLATION AND POLICIES OF INTEREST TO STEVENS' OPERATIONS. IN ADDITION, THEY PROVIDE OVERSIGHT TO OUTSIDE CONSULTANTS AND ARE DIRECTLY ENGAGED IN ACTIVITIES RELATED TO STEVENS' FEDERAL RESEARCH INITIATIVES. GREGORY TOWNSEND, SENIOR DIRECTOR OF CORPORATE, GOVERNMENT, AND COMMUNITY RELATIONS, IS REGISTERED AS A LOBBYIST IN THE STATE OF NEW JERSEY. HE SPENDS APPROXIMATELY 35% OF HIS TIME ON NEW JERSEY-FOCUSED HIGHER EDUCATION AND TECHNOLOGY ISSUES. X X X 0 0 318946815 24070012 41134515 3989902 5563815 374597625 269273622 31464181 27381853 3714751 5458090 318946815 272887000 14472347 -9906243 3502583 4676899 269273622 225010000 5006650 50225185 3272013 4082822 272887000 224304000 2856781 4103638 2523056 3731363 225010000 0.19050 0.80951 1 0 1691546 1691546 699744993 193162799 506582194 89828572 44775394 45053178 26731656 16800868 9930788 563257706 ALTERNATIVE INVESTMENTS 19857242 F TRUSTS HELD BY OTHERS 7471451 F SPLIT INTEREST AGREEMENTS 2258534 F PRIVATE EQUITY 74358890 F 103946117 CAPITAL LEASE OBLIGATION 1215706 ANNUITIES PAYABLE 1473482 POST-RETIREMENT AND PENSION OBLIGATIONS 3821513 CONDITIONAL ASSET RETIREMENT OBLIGATION 4581202 REFUNDABLE ADVANCES 840271 11932174 X PART III, LINE 4: COLLECTIONS OF ART, HISTORICAL TREASURES AND ARCHIVES STEVENS MAINTAINS A COLLECTION OF VARIOUS WORKS OF ART, HISTORICAL TREASURES, ARCHIVES AND OTHER SIMILAR ASSETS THAT ARE ON PUBLIC DISPLAY IN ITS LIBRARY AND OTHER LOCATIONS ON CAMPUS FOR THE ENRICHMENT AND ENJOYMENT OF VISITORS, FACULTY, STAFF AND STUDENTS. PART V, LINE 4: ENDOWMENT FUNDS THE UNIVERSITY'S ENDOWMENT FUND IS INTENDED TO SUPPORT SCHOLARSHIPS FOR UNDERGRADUATE AND GRADUATE STUDENTS AND TO PROVIDE FINANCIAL ASSISTANCE FOR PROGRAMS AND SERVICES CONDUCTED BY THE UNIVERSITY. PART X, LINE 2: INCOME TAXES THE UNIVERSITY HAS BEEN CLASSIFIED AS AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND, THEREFORE, IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE CODE AND SIMILAR STATE OF NEW JERSEY TAX PROVISIONS. FEDERAL LAW IMPOSES TAX ON INCOME THAT IS NOT RELATED TO AN ORGANIZATION'S TAX-EXEMPT PURPOSES OR OTHERWISE EXCLUDED UNDER THE CODE AS WELL AS AN EXCISE TAX ON CERTAIN EXCESS COMPENSATION. THE UNIVERSITY HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS, TO IDENTIFY AND REPORT UNRELATED INCOME, DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS, AND TO REVIEW OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. MANAGEMENT OF THE UNIVERSITY BELIEVES THERE ARE NO UNCERTAIN TAX POSITIONS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SEE SUPPLEMENTAL PAGE NONDISCRIMINATION POLICY - PART I, LINE 3 STEVENS INSTITUTE OF TECHNOLOGY'S NONDISCRIMINATION POLICY IS AVAILABLE ON THE ADMISSIONS APPLICATION WEBPAGE FOR PROSPECTIVE STUDENTS AND IN THE STUDENT HANDBOOK WHICH IS AVAILABLE ON THE STEVENS WEBSITE AND AVAILABLE TO ALL STUDENTS AT ORIENTATION AND REGISTRATION. THE UNIVERSITY'S BYLAWS ALSO CONTAIN STEVENS' NONDISCRIMINATION POLICY. GOVERNMENTAL FUNDING PART I, LINE 6A STEVENS INSTITUTE OF TECHNOLOGY RECEIVES FUNDING FROM FEDERAL AND STATE GOVERNMENTAL SOURCES INCLUDING, BUT NOT LIMITED TO, PELL, FEDERAL DIRECT LOAN PROGRAMS, FSEOG AND THE NJ TUITION ASSISTANCE GRANT. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 3 PROGRAM SERVICES CONFERENCES/SPEAKING 9326 EAST ASIA AND THE PACIFIC 0 22 PROGRAM SERVICES CONFERENCES/SPEAKING 156920 EUROPE 0 52 PROGRAM SERVICES CONFERENCES/SPEAKING 221294 MIDDLE EAST AND NORTH AFRICA 0 1 PROGRAM SERVICES CONFERENCES/SPEAKING 5381 NORTH AMERICA 0 16 PROGRAM SERVICES CONFERENCES/SPEAKING 36018 RUSSIA AND NEIGHBORING STATES 0 1 PROGRAM SERVICES CONFERENCES/SPEAKING 1480 SOUTH AMERICA 0 2 PROGRAM SERVICES CONFERENCES/SPEAKING 8293 SOUTH ASIA 0 3 PROGRAM SERVICES CONFERENCES/SPEAKING 8116 EUROPE 0 1 PROGRAM SERVICES FIELD RESEARCH 601 NORTH AMERICA 0 1 PROGRAM SERVICES FIELD RESEARCH 2845 CENTRAL AMERICA AND THE CARIBBEAN 0 1 PROGRAM SERVICES RECRUITING - STUDENTS 2076 EAST ASIA AND THE PACIFIC 0 8 PROGRAM SERVICES RECRUITING - STUDENTS 168759 EUROPE 0 4 PROGRAM SERVICES RECRUITING - STUDENTS 22614 MIDDLE EAST AND NORTH AFRICA 0 1 PROGRAM SERVICES RECRUITING - STUDENTS 11510 SOUTH AMERICA 0 1 PROGRAM SERVICES RECRUITING - STUDENTS 9418 SOUTH ASIA 0 4 PROGRAM SERVICES RECRUITING - STUDENTS 92615 EUROPE 0 2 PROGRAM SERVICES ATHLETIC TRAVEL 6883 NORTH AMERICA 0 3 PROGRAM SERVICES ATHLETIC TRAVEL 13035 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS 42894467 EUROPE 0 0 INVESTMENTS 39933597 0 100 0 26 0 126 446828 83158420 83605248 1 0 1 1 1 1 PART I, LINE 3: THE EXPENDITURES REPORTED IN PART I ARE ON THE ACCRUAL METHOD. SCHEDULE F, PART IV STEVENS INSTITUTE OF TECHNOLOGY INVESTS IN DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS THAT MAY OWN AN INTEREST IN A FOREIGN CORPORATION, PASSIVE FOREIGN INVESTMENT COMPANY OR FOREIGN PARTNERSHIP. TO THE EXTENT THAT THOSE INVESTMENTS RESULTED IN TRANSFERS OF PROPERTY THAT EXCEEDED THE APPLICABLE FILING THRESHOLDS, THE FORMS 926, 5471, 8621 AND 8865 ACCOMPANIED THE FILING OF THE UNIVERSITY'S FORM 990-T. X X X X X X X 1 COPPER REEF ENTERPRISES 6965 EL CAMINO REAL STE 105-488 CARLSBAD CA 92009 FUNDRAISING PROGRAM 0 0 12814 -12814 PENTERA INC 8650 COMMERCE PARK PLACE SUITE G INDIANAPOLIS IN 46268 DIG & DIRCT MAIL MKT. 0 0 36675 -36675 BENTZ WHALEY FLESSNER AND ASSOCIATES 7900 XERXES AVE S SUITE 980 MINNEAPOLIS MN 55431 FUNDRAISING PROGRAM ASSESSMENT 0 0 77316 -77316 CI PARTNERS DIRECT INC 1601 EASTMAN AVE UNIT 202 VENTURA CA 93003 FUNDRAISING CONSULTANT 0 0 157934 -157934 284739 -284739 AL AK AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN VA WV WI ATHLETICS GOLF OUTING 91375 47765 43610 170 41652 4464 13480 WRESTLING GOLF OUTING 29015 12373 16642 9653 8436 2247 120390 60138 60252 170 51305 12900 15727 80102 -19850 SCHEDULE G, PART I, LINE 2B, COLUMN (V) SCHEDULE G, PART 1, LINE 2A FUNDRAISING ACTIVITIES THE UNIVERSITY UTILIZED OUTSIDE VENDORS FOR DIGITAL AND DIRECT MARKETING SERVICES. IN ADDITION TO THE PROFESSIONAL SERVICE EXPENSES SHOWN IN PART I, THE UNIVERSITY PAID $30,766 FOR POSTAGE EXPENSES. 1 SCHOLARSHIPS AND GRANTS 5520 125129146 0 STIPENDS 178 3550186 0 PRIZES/AWARDS 612 875247 0 PART I, LINE 2: GRANTS AND OTHER ASSISTANCE IN U.S. SCHOLARSHIPS AND GRANTS ARE AWARDED AS FINANCIAL ASSISTANCE TO STUDENTS ATTENDING STEVENS INSTITUTE OF TECHNOLOGY. DISTRIBUTION AND APPLICATION OF FINANCIAL ASSISTANCE ARE BASED ON THE SPECIFIC CRITERIA OF EACH SCHOLARSHIP AND GRANT AND ARE ADMINISTERED CONSISTENT WITH FEDERAL, STATE, AND INSTITUTIONAL STUDENT AID POLICIES. SITUATIONS SUCH AS CHANGES IN FINANCIAL NEED, CHANGES IN FEDERAL AID ELIGIBILITY, CHANGES IN ENROLLMENT AND RECEIPT OF AID FROM OUTSIDE SOURCES MAY AFFECT A STUDENT'S ELIGIBILITY TO RECEIVE FUNDING. STEVENS' ADMINISTRATION MONITORS THESE SITUATIONS ON AN ON-GOING BASIS AND MAKES ANY APPROPRIATE ADJUSTMENTS. X X X X 1 1 X X X X X X 0 0 0 0 0 0 0 1 0 NARIMAN FARVARDIN PRESIDENT/TRUSTEE 926352 0 266789 0 27887 0 33000 0 526 0 1254554 0 0 0 JIANMIN QU PROVOST & SVP FOR ACADEMIC AFFAIRS 536012 0 25000 0 1524 0 33000 0 22711 0 618247 0 0 0 GREGORY PRASTACOS DEAN 488719 0 20000 0 2472 0 33000 0 29760 0 573951 0 0 0 LOUIS J MAYER VP OF FINANCE/ TREASURER, CFO 461676 0 13500 0 1524 0 33000 0 22711 0 532411 0 0 0 KATHY L SCHULZ VP & GENERAL COUNSEL/SECRETARY 473720 0 8000 0 792 0 33000 0 10283 0 525795 0 0 0 EDMUND SYNAKOWSKI VICE PROVOST 388043 0 0 0 50792 0 33000 0 22711 0 494546 0 0 0 CONSTANTIN CHASSAPIS SR. VICE PROVOST 415221 0 11000 0 1524 0 33000 0 22711 0 483456 0 0 0 JEAN ZU DEAN 416873 0 15000 0 792 0 33000 0 10283 0 475948 0 0 0 DINESH VERMA PROFESSOR/ EXEC DIR OF SERC 396557 0 1500 0 2652 0 29700 0 29795 0 460204 0 0 0 DAVID ZENG VICE PROVOST 396184 0 7000 0 516 0 29700 0 22711 0 456111 0 0 0 LAURA ROSE VP FOR DEV/ALUM 391668 0 8000 0 516 0 29700 0 25681 0 455565 0 0 0 ELISABETH MCGRATH VP FOR UNIV RELATIONS 403064 0 13500 0 792 0 30615 0 526 0 448497 0 0 0 GEORGE KORFIATIS PROFESSOR 384105 0 0 0 1524 0 33000 0 22746 0 441375 0 0 0 CHRISTOPHE PIERRE FORMER KEY 372257 0 0 0 726 0 33000 0 22746 0 428729 0 0 0 MUHAMMAD HAJJ DEPARTMENT CHAIR 355065 0 1000 0 792 0 33000 0 22746 0 412603 0 0 0 TEJASH PATEL CIO, VP INFORMATION TECHNOLOGY 364061 0 13500 0 120 0 26400 0 526 0 404607 0 0 0 ROBERT MAFFIA VP FOR FACILITIES/OPERATIONS 317755 0 13500 0 9192 0 33000 0 29760 0 403207 0 0 0 SHERAINE GILLIAM CHRO, VP FOR HUMAN RESOURCES 312028 0 13500 0 35120 0 25600 0 10283 0 396531 0 0 0 CHRISTOS CHRISTODOULATOS PROFESSOR 337439 0 0 0 1524 0 33000 0 22746 0 394709 0 0 0 ANTHONY BARRESE INTERIM DEAN 308848 0 9750 0 2472 0 32201 0 22711 0 375982 0 0 0 CINDY CHIN VICE PRESIDENT FOR ENROLLMENT MGMT 294870 0 13500 0 120 0 20286 0 526 0 329302 0 0 0 SARA KLEIN VICE PRESIDENT FOR STUDENT AFFAIRS 272171 0 8000 0 180 0 22356 0 16278 0 318985 0 0 0 DILHAN KALYON FORMER KEY 258355 0 0 0 1224 0 23947 0 22898 0 306424 0 0 0 JOSEPH E CASSIDY AVP FINANCE/ASSIST TREAS 275268 0 2000 0 516 0 24774 0 526 0 303084 0 0 0 DIBYENDU DIBS SARKAR TRUSTEE/PROFESSOR AS OF 5/21/24 242872 0 0 0 516 0 22035 0 29959 0 295382 0 0 0 R ELAINE HENRY TRUSTEE/PROFESSOR 209798 0 0 0 1270 0 20925 0 10686 0 242679 0 0 0 DAWN DA SILVA FORMER AVP 205280 0 0 0 276 0 18014 0 526 0 224096 0 0 0 MO MANSOURI TRUSTEE/ASSOC PROF TO 5/21/2024 176290 0 1000 0 147 0 13389 0 30240 0 221066 0 0 0 MICHAEL PARENTE FORMER VP - IT 196711 0 0 0 120 0 16173 0 526 0 213530 0 0 0 COMPENSATION INFORMATION PART I, LINE 1 THE STEVENS INSTITUTE OF TECHNOLOGY GUIDELINES REGARDING SPOUSAL TRAVEL ARE INCLUDED IN THE STEVENS BUSINESS AND TRAVEL EXPENSE POLICY. EXPENSES INCURRED FOR ACCOMPANYING COMPANIONS/SPOUSES ARE CONSIDERED PERSONAL IN NATURE EXCEPT ON OCCASIONS WHEN ATTENDANCE OF A COMPANION/SPOUSE AT AN EVENT SERVES A BONA FIDE BUSINESS PURPOSE FOR THE UNIVERSITY AND THE PRESENCE OF THE COMPANION/SPOUSE IS ESSENTIAL (NOT JUST BENEFICIAL) TO THE EMPLOYEE BEING ABLE TO CARRY OUT THE BUSINESS PURPOSE FOR THE UNIVERSITY; GIVEN THAT ATTENDANCE IS ESSENTIAL, THIS IS NOT TAXABLE TO THE EMPLOYEE. CAMPUS HOUSING IS PROVIDED FOR THE UNIVERSITY PRESIDENT AND IS USED FOR PROGRAM AND DEVELOPMENT PURPOSES. THE PRESIDENT IS CONTRACTUALLY REQUIRED TO LIVE IN CAMPUS HOUSING AND, THEREFORE, IT IS NOT TAXABLE COMPENSATION TO HIM. THE FOLLOWING KEY EMPLOYEE ALSO RECEIVED A HOUSING ALLOWANCE WHICH IS INCLUDED IN THEIR TAXABLE INCOME: - EDMUND SYNAKOWSKI, VICE PROVOST THERE IS ONE INSTANCE IN WHICH A CLUB MEMBERSHIP IS IN THE NAME OF AN INDIVIDUAL DUE TO CLUB IMPOSED MEMBERSHIP RULES. THIS MEMBERSHIP IS SOLELY FOR BUSINESS PURPOSES TO FOSTER RELATIONSHIPS WITHIN THE NEW YORK METROPOLITAN AREA FOR THE UNIVERSITY. PERSONAL SERVICES ARE PROVIDED TO THE PRESIDENT IN THE FORM OF HOUSEKEEPING BY AN EMPLOYEE OF THE PHYSICAL PLANT DEPARTMENT. THE VALUE OF THESE SERVICES IS INCLUDED AS TAXABLE INCOME AND IS DISCLOSED AS PART OF HIS SCHEDULE J PART II, COLUMN B (III), OTHER REPORTABLE COMPENSATION. INCENTIVE COMPENSATION, PART I, LINE 7 THE STEVENS INCENTIVE COMPENSATION PLAN PROVIDES A MECHANISM TO REWARD FACULTY AND CERTAIN KEY STAFF FOR EXTRAORDINARY PERFORMANCE OVER A PERIOD OF ONE ACADEMIC YEAR WHERE PERMITTED BY LAW. IN CONTRAST TO MERIT-BASED SALARY INCREASES, ANNUAL INCENTIVES DO NOT INCREASE BASE SALARY. INCENTIVE COMPENSATION MAY BE AWARDED UPON A FINDING BY MANAGEMENT THAT AN EMPLOYEE'S WORK HAS BEEN EXTRAORDINARY AND HAS CLEARLY CONTRIBUTED TOWARD THE GOALS AND MISSION OF STEVENS. INCENTIVE COMPENSATION, EVEN IN CASES OF EXTRAORDINARY PERFORMANCE, IS NOT GUARANTEED, AND DECISIONS REGARDING INCENTIVE COMPENSATION WILL BE SUBJECT TO THE BOARD OF TRUSTEES AND OTHERS' DETERMINATIONS AS TO THE FINANCIAL RESULTS OF THE UNIVERSITY AND OTHER FACTORS NOT SPECIFIED IN THE PLAN. INCENTIVE COMPENSATION FOR FACULTY AND STAFF ARE RECOMMENDED BY MANAGERIAL STAFF, ARE APPROVED BY THE PRESIDENT AND ARE WITHIN PARAMETERS ESTABLISHED BY THE BOARD OF TRUSTEES. INCENTIVE COMPENSATION FOR EXECUTIVE LEADERS IS RECOMMENDED BY THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES AND APPROVED BY THE HUMAN RESOURCES COMMITTEE OR FULL BOARD OF TRUSTEES AS PART OF ITS CONSIDERATION OF THE PRESIDENT, THE TOP FIVE HIGHEST COMPENSATED EMPLOYEES, AND OTHER DISQUALIFIED PERSONS LISTED IN SCHEDULE O. EACH YEAR, THE HUMAN RESOURCES COMMITTEE APPROVES THE ANNUAL PERFORMANCE GOALS FOR THE EXECUTIVE LEADERS AND REVIEWS WITH THE PRESIDENT THE PROCESS FOR DETERMINING THEM FOR EACH OTHER GROUP OR SUB-GROUP OF EMPLOYEES. COMPENSATION INFORMATION, PART II LINE 4 PART II, LINE 4 CONTAINS INFORMATION ABOUT THE COMPENSATION OF THE UNIVERSITY'S PRESIDENT, DR. NARIMAN FARVARDIN, PAID DURING THE YEAR. ALL AMOUNTS WERE PAID PURSUANT TO THE PRESIDENT'S WRITTEN FIVE-YEAR CONTRACT. IN ADDITION TO HIS ANNUAL BASE SALARY OF $926,352, THIS AMOUNT INCLUDES AN ANNUAL INCENTIVE COMPENSATION PAYMENT OF $266,789 ASSOCIATED WITH ACHIEVEMENT OF SEPARATE METRICS FOR THE UNIVERSITY'S FISCAL YEAR ENDED 6/30/2023. ALL INCENTIVE COMPENSATION AMOUNTS WERE BASED UPON DETERMINATIONS BY THE HUMAN RESOURCES COMMITTEE AND THE FULL BOARD OF TRUSTEES THAT OBJECTIVE METRICS RELATING TO THE UNIVERSITY'S STRATEGIC PLAN WERE ACHIEVED BY THE PRESIDENT AND, IN MANY CASES EXCEEDED WITH EXCEPTIONAL PERFORMANCE. IN ADDITION, SUCH AMOUNTS WERE REVIEWED AND EVALUATED FOR MARKET COMPARABILITY BY THE UNIVERSITY'S INDEPENDENT COMPENSATION CONSULTANT. A NJ EDU FAC AUTH STEVENS ISSUE 2020 SERIES A 221829511 6460666L9 2020-03-11 209648096 NEW CONSTRUCTION & RENOVATION 0 0 0 B NJ EDU FAC AUTH STEVENS ISSUE 2017 SERIES A 221829511 646066M31 2017-04-04 132589361 1998 & 2007 REFUND/CAP. PROJ 0 0 0 C NJ EDU FAC AUTH CAPITAL IMP SERIES 2016B 221829511 646066F54 2016-12-20 30676062 FINANCING NEW CONSTRUCTION 0 0 1 D NJ EDU FAC AUTH EQUIPMENT ISSUE SERIES 2023A 221829511 646067FW3 2023-10-05 3524149 FINANCING EQUIPMENT 0 0 1 A 209648096 1000262 191592779 17055055 2022 0 0 1 1 B 16270000 132589361 911558 76000000 55677803 2021 1 0 1 1 C 2046853 17575574 141074 17434500 2018 0 0 1 1 D 3524149 24149 1607189 1892811 0 0 0 1 A 0 0 1 1 1 1 0 0 1 B 0 0 1 1 1 1 0 0 1 C 0 0 1 1 0 0 0 1 D 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, BOND ISSUES 1. NJ EDU FAC AUTH HIGHER EDUCATION EQUIPMENT LEASING FUND SERIES 2023A: THESE BONDS WERE ISSUED PURSUANT TO A LEGISLATIVELY CREATED STATE-BACKED PROGRAM TO FINANCE HIGHER EDUCATION EQUIPMENT FOR NEW JERSEY COLLEGES AND UNIVERSITIES. THE BONDS ARE REPAYABLE IN PART BY STATE APPROPRIATIONS. NJEFA BOND PROCEEDS OF $25,361,951 WERE RECEIVED FROM A SINGLE ISSUANCE WHICH WAS GRANTED IN VARYING AMOUNTS TO COLLEGES LOCATED IN NEW JERSEY. STEVENS RECEIVED A TOTAL OF $3,500,000 WHICH REQUIRES THAT THE UNIVERSITY PAY ONE FOURTH (25%) OF THE DEBT SERVICE OF THE UNDERLYING BONDS. THE $3,500,000 IS TO BE USED FOR THE CONSTRUCTION OF A HIGH-PERFORMANCE COMPUTING CLUSTER. STEVENS PRINCIPAL PORTION IS $828,000 AND IS RECORDED ON THE BOOKS AS LONG TERM DEBT. 2. NJ EDU FAC AUTH STEVENS ISSUE 2020 SERIES A: THESE BONDS WERE ISSUED IN THE PAR AMOUNT OF $174,315,000 TO FINANCE: (A) THE CONSTRUCTION, RENOVATION AND EQUIPPING OF THE NEW STUDENT HOUSING AND UNIVERSITY CENTER; (B) FINANCE CAPITAL PROJECTS FOR CONSTRUCTION, RENOVATION, EXPANSION AND EQUIPPING OF CERTAIN ADDITIONAL UNIVERSITY RESEARCH AND EDUCATION BUILDINGS; AND (C) FUND CAPITALIZED INTEREST FOR THE 2020 SERIES A BONDS. TOTAL PROCEEDS OF THE ISSUANCE WERE $209,648,096 OF WHICH $38,600,000 WERE USED TO REPAY A LINE OF CREDIT USED FOR CAPITAL EXPENDITURES PRIOR TO THE COMPLETION OF THE ISSUANCE. THE UNIVERSITY GRANTED A PLEDGE OF AND LIEN ON TUITION AS SECURITY FOR THIS LOAN. 3. NJ EDU FAC AUTH STEVENS ISSUE 2017 SERIES A: THESE BONDS WERE ISSUED IN THE PAR AMOUNT OF $132,589,361 FOR REFUNDING AND LEGAL DEFEASANCE OF THE 1998 SERIES I AND 2007 SERIES A BONDS AND TO FINANCE: (A) THE CONSTRUCTION, RENOVATION AND EQUIPPING OF THE NEW RESEARCH AND ACADEMIC BUILDINGS COMPRISING THE ACADEMIC GATEWAY COMPLEX; (B) THE CONSTRUCTION, RENOVATION AND EXPANSION OF THE EXISTING BABBIO GARAGE; (C) THE CONSTRUCTION, RENOVATION, EXPANSION AND EQUIPPING OF CERTAIN ADDITIONAL FACILITIES AT THE UNIVERSITY FOR RESEARCH AND EDUCATION; (D) PRECONSTRUCTION COSTS RELATED TO A PROPOSED COMBINED STUDENT RESIDENCE AND UNIVERSITY FACILITY. SCHEDULE K, PART II, LINE 1 AMOUNT OF BONDS RETIRED IS A RESULT OF PRINCIPAL PAYMENTS BY THE UNIVERSITY PURSUANT TO AGREEMENTS WITH THE AUTHORITY. 4. NJ EDU FAC AUTH CAPITAL IMP SERIES 2016B: THESE BONDS WERE ISSUED PURSUANT TO A LEGISLATIVELY CREATED STATE-BACKED PROGRAM TO FINANCE CAPITAL IMPROVEMENTS FOR NEW JERSEY COLLEGES AND UNIVERSITIES. THE BONDS ARE REPAYABLE IN PART BY STATE APPROPRIATIONS. NJEFA BOND PROCEEDS OF $142,715,000 WERE RECEIVED FROM A SINGLE ISSUANCE WHICH WAS GRANTED IN VARYING AMOUNTS TO COLLEGES LOCATED IN NEW JERSEY. STEVENS RECEIVED A TOTAL OF $17,434,500 WHICH REQUIRES THAT THE UNIVERSITY PAY ONE HALF (50%) OF THE DEBT SERVICE OF THE UNDERLYING BONDS. THE $17,434,500 IS TO BE USED TO FINANCE A PORTION OF THE CONSTRUCTION OF THE ACADEMIC GATEWAY COMPLEX. STEVENS PRINCIPAL PORTION IS $8,522,585 AND IS RECORDED ON THE BOOKS AS LONG TERM DEBT, PAYABLE OVER 20 YEARS. SCHEDULE K, PART II, LINE 1 AMOUNT OF BONDS RETIRED IS A RESULT OF PRINCIPAL PAYMENTS BY THE UNIVERSITY PURSUANT TO AGREEMENTS WITH THE AUTHORITY. PART IV, ARBITRAGE REBATE, LINE 2B NJ EDU FAC AUTH CAPITAL IMP SERIES 2016B - SINCE THESE BONDS WERE PART OF A STATE BACKED GRANT PROGRAM, ALTHOUGH THE NJEFA RECEIVES ANNUAL ARBITRAGE REPORT ON THE ENTIRE ISSUANCE, THERE IS NOT A REPORT FOR STEVENS' SPECIFICALLY. STEVENS WOULD NOT BE SUBJECT TO ARBITRAGE ON THE ISSUE AS STEVENS' DOES NOT RECEIVE INTEREST INCOME ON THE EARNINGS WHICH GO DIRECTLY TO THE STATE. FOR THE GRANT PROGRAMS, IN THE EVENT OF POSITIVE ARBITRAGE, THE STATE OF NJ (TREASURY) WOULD BE RESPONSIBLE FOR THE PAYMENT. PART IV, ARBITRAGE REBATE, LINE 2C AN ARBITRAGE REBATE AND YIELD RESTRICTION ANALYSIS WAS PERFORMED BY BLX FOR NJ EDU FAC AUTH STEVENS ISSUE 2017 SERIES A FOR THE PERIOD FROM APRIL 4, 2017 THROUGH JUNE 30, 2021. BASED UPON THE REPORT NO PAYMENT IS DUE. X 32 3081057 FMV 0 1 1 SCHEDULE M, LINE 9 NON-CASH CONTRIBUTIONS TO THE EXTENT THAT THE UNIVERSITY RECEIVES CONTRIBUTIONS OF PUBLICLY TRADED SECURITIES, THE UNIVERSITY'S INVESTMENT BROKERAGE BANK IS TASKED WITH PROMPTLY SELLING THOSE SECURITIES. SCHEDULE M, LINE 32 THE UNIVERSITY USES VARIOUS GALLERIES TO FACILITATE THE SALE OF ART. THE UNIVERSITY IS REPORTING IN PART I, COLUMN B, THE NUMBER OF ITEMS RECEIVED. FORM 990, ITEM C, NAME OF ORGANIZATION THE FULL LEGAL NAME OF THE UNIVERSITY IS THE TRUSTEES OF THE STEVENS INSTITUTE OF TECHNOLOGY. STEVENS INSTITUTE OF TECHNOLOGY IS REGISTERED IN THE STATE OF NEW JERSEY AS A "DOING BUSINESS NAME". ORGANIZATION'S MISSION STEVENS INSTITUTE OF TECHNOLOGY WAS FOUNDED IN 1870. THE UNIVERSITY IS A NON-PROFIT RESEARCH UNIVERSITY OFFERING MORE THAN 35 UNDERGRADUATE MAJORS INCLUDING PROGRAMS IN ENGINEERING, THE SCIENCES, COMPUTER SCIENCE, BUSINESS, AND THE HUMANITIES; AND GRADUATE LEVEL COURSES IN A RANGE OF DISCIPLINES LEADING TO THE MASTERS AND PHD DEGREES. ACADEMIC RESEARCH IS CARRIED OUT AT EVERY LEVEL OF THE UNIVERSITY. THE MISSION OF THE UNIVERSITY IS ACCOMPLISHED BY THE ACHIEVEMENT OF THE FOLLOWING CORE GOALS: PROVIDING STUDENTS WITH A BROAD-BASED, MULTIDISCIPLINARY LEARNING EXPERIENCE IN THE SCIENCES, ENGINEERING, BUSINESS AND LIBERAL ARTS WHILE STRESSING THE FUNDAMENTAL CONCEPTS, TECHNIQUES AND ATTITUDES THAT UNDERLIE DIFFERENT BRANCHES OF TECHNOLOGY; PROMOTING THE PERSONAL DEVELOPMENT OF THE STUDENT, DEMONSTRATED BY A SENSE OF ETHICAL RESPONSIBILITY, AWARENESS OF THE SOCIETAL IMPACT OF THEIR PROFESSIONS, DEVELOPMENT OF LEADERSHIP AND TEAM SKILLS, AND A LOVE OF LEARNING; CREATING KNOWLEDGE THROUGH WORLD-CLASS RESEARCH WITH A DISTINCT IMPACT IN FOCUSED AREAS OF NATIONAL IMPORTANCE; NURTURING AN INNOVATIVE ENVIRONMENT WHEREIN STUDENTS, FACULTY AND COLLEAGUES IN INDUSTRY CONTRIBUTE TO THE PROCESS OF CONCEPTION, DESIGN AND MARKETPLACE REALIZATION OF NEW TECHNOLOGIES. FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIPS THERE ARE SEVERAL TRUSTEES WHO UTILIZE PROFESSIONAL SERVICES PROVIDED BY OR HAVE OTHER PROFESSIONAL RELATIONSHIPS WITH OTHER TRUSTEES, PRIMARILY IN THE AREAS OF LEGAL AND INVESTMENT SERVICES. FORM 990, PART VI, SECTION A, LINE 3 GOVERNING BODY AND MANAGEMENT STEVENS' BOARD OF TRUSTEES DELEGATED TO A PROMINENT INVESTMENT BANK THE MANAGEMENT OF STEVENS' ENDOWMENT PURSUANT TO CONTRACTS WHICH ADDRESS THE SCOPE OF THE DELEGATION OF AUTHORITY, MONITORING BY STEVENS' MANAGEMENT AND THE BOARD, AND REPORTING, AMONG OTHER MATTERS. PURSUANT TO THE BY-LAWS OF THE UNIVERSITY AND THE CHARTER OF THE EXECUTIVE COMMITTEE, THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE BOARD OF TRUSTEES IN CERTAIN INSTANCES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW THIS FORM 990 WAS PREPARED BY MEMBERS OF THE FINANCE AND LEGAL OFFICES OF THE UNIVERSITY TOGETHER WITH ITS OUTSIDE TAX AND ACCOUNTING FIRM SPECIALIZING IN HIGHER EDUCATION. THIS FORM 990 WAS THEN PRESENTED TO THE AUDIT AND RISK COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW AND APPROVAL. FOLLOWING THIS PROCESS AND ANY MODIFICATIONS RECOMMENDED BY THE AUDIT AND RISK COMMITTEE, THE FORM 990 WAS PRESENTED TO A MEETING OF THE FULL BOARD OF TRUSTEES OF THE UNIVERSITY AND APPROVED IN ACCORDANCE WITH THE BY-LAWS OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST THE UNIVERSITY'S CONFLICT OF INTEREST POLICY REQUIRES ONGOING COMPLIANCE AND SELF-REPORTING OF CONFLICTS. IT ALSO PROVIDES FOR COMPLETION OF AN ANNUAL DISCLOSURE FORM BY ALL TRUSTEES, OFFICERS, CERTAIN STAFF POSITIONS AND FACULTY. EACH DISCLOSURE FORM IS REVIEWED BY THE OFFICE OF AUDIT, RISK AND COMPLIANCE, AND DISCLOSURE FORMS FOR TRUSTEES AND OFFICERS ARE REVIEWED BY THE OFFICE OF GENERAL COUNSEL; ALL CONFLICTS OF INTEREST ARE REPORTED TO THE AUDIT AND RISK COMMITTEE OF THE BOARD AND TO THE BOARD OF TRUSTEES. INFORMATION DISCLOSED IN THE DISCLOSURE FORMS WHICH INDICATES THE PRESENCE OF A CONFLICT IS REVIEWED, DISCUSSED WITH RELEVANT PERSONNEL AND, IF NECESSARY, THE CONFLICT IS ELIMINATED OR MANAGED PURSUANT TO A CONFLICT MANAGEMENT PLAN OR DEVICE, WITH ADVICE FROM THE OFFICE OF AUDIT, RISK AND COMPLIANCE AND THE GENERAL COUNSEL. IN ADDITION, CONFLICTS ARE IDENTIFIED BY THE OFFICERS OF THE UNIVERSITY AND STAFF AT OTHER LEVELS OF THE UNIVERSITY AS THEY ARISE FROM TIME TO TIME AND ARE REFERRED TO THE OFFICE OF AUDIT, RISK AND COMPLIANCE AND/OR THE GENERAL COUNSEL FOR FURTHER ANALYSIS AND RESOLUTION. CERTAIN CONFLICTS RELATING TO RESEARCH ACTIVITIES MAY BE MANAGED BY THE VICE PROVOST FOR RESEARCH AND INNOVATION, WITH ADVICE FROM THE OFFICE OF AUDIT, RISK AND COMPLIANCE AND THE GENERAL COUNSEL. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION THE COMPENSATION OF THE PRESIDENT AND FIVE HIGHEST COMPENSATED EMPLOYEES OF THE UNIVERSITY WAS APPROVED BY AN INDEPENDENT HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES AND THE FULL BOARD OF TRUSTEES, IN EACH CASE ACTING AT MEETINGS DULY HELD. IN ADDITION TO APPROVING THE PRESIDENT'S COMPENSATION FOR CALENDAR YEAR 2023, THE COMPENSATION FOR THE FOLLOWING 5 ADDITIONAL POSITIONS WERE APPROVED: PROVOST AND UNIVERSITY VICE PRESIDENT CHIEF FINANCIAL OFFICER, VICE PRESIDENT FOR FINANCE AND TREASURER DEAN OF ENGINEERING AND SCIENCE VICE PRESIDENT, GENERAL COUNSEL AND SECRETARY DEAN OF SCHOOL OF BUSINESS WITH RESPECT TO THE FOLLOWING ADDITIONAL POSITIONS, THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES, ACTING ON BEHALF OF THE BOARD OF TRUSTEES, APPROVED THE COMPENSATION AT DULY HELD MEETINGS OF THE COMMITTEE. THE BOARD WAS FULLY INFORMED OF THE COMMITTEE'S ACTIONS: VICE PRESIDENT FOR DEVELOPMENT AND ALUMNI ENGAGEMENT VICE PRESIDENT FOR FACILITIES AND CAMPUS OPERATIONS VICE PRESIDENT FOR ENROLLMENT MANAGEMENT VICE PRESIDENT FOR STUDENT AFFAIRS VICE PRESIDENT FOR INFORMATION TECHNOLOGY AND CIO VICE PRESIDENT FOR COMMUNICATIONS AND MARKETING VICE PRESIDENT FOR HUMAN RESOURCES AND CHRO VICE PRESIDENT FOR UNIVERSITY RELATIONS, CHIEF OF STAFF FACULTY TRUSTEE (2) FORMER PROVOST ALL SUCH COMPENSATION WAS DETERMINED BASED UPON RECOMMENDATIONS FROM THE PRESIDENT (EXCEPT WITH RESPECT TO THE PRESIDENT, WHOSE COMPENSATION IS RECOMMENDED BY THE HUMAN RESOURCES COMMITTEE TO THE BOARD OF TRUSTEES FOR APPROVAL, AND THE DEANS AND FACULTY, WHOSE COMPENSATION IS RECOMMENDED BY THE PROVOST). THE UNIVERSITY RETAINS THE SERVICES OF A NATIONALLY PROMINENT COMPENSATION CONSULTING FIRM TO PERFORM A COMPREHENSIVE COMPENSATION ASSESSMENT OF THE SALARIES OF ALL MEMBERS OF THE SENIOR ADMINISTRATION, INCLUDING THE PRESIDENT. THIS STUDY INCLUDES A COMPARISON OF THE UNIVERSITY'S SALARIES WITH A CORE GROUP OF PEER INSTITUTIONS. THE RESULTS OF THE STUDY ARE REVIEWED AND DISCUSSED ANNUALLY WITH THE BOARD'S HUMAN RESOURCES COMMITTEE AND THE BOARD OF TRUSTEES, AS THOSE BODIES APPROVE EXECUTIVE COMPENSATION. THE SECRETARY TO THE BOARD OF TRUSTEES OR THE VICE PRESIDENT OF HUMAN RESOURCES TOOK CONTEMPORANEOUS MINUTES OF EACH MEETING OF THE BOARD AT WHICH THESE COMPENSATION DECISIONS WERE MADE. NEITHER OF THEM TOOK MINUTES WITH RESPECT TO THEIR OWN COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 DISCLOSURE THE GOVERNING DOCUMENTS OF THE UNIVERSITY TOGETHER WITH CHARTERS FOR EACH COMMITTEE OF THE BOARD OF TRUSTEES, THE CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS OF THE UNIVERSITY ARE ALL MADE AVAILABLE ON THE UNIVERSITY'S WEBSITE (WWW.STEVENS.EDU). IN ADDITION, A VARIETY OF OTHER DOCUMENTS AND MATERIALS REGARDING THE UNIVERSITY AND ITS OPERATIONS AS WELL AS THE OTHER POLICIES OF THE UNIVERSITY, ARE ALSO AVAILABLE ON THE WEBSITE. FORM 990, PART X - INVESTMENTS - PUBLICLY TRADED SECURITIES: EQUITY 242,726,425 FIXED INCOME 20,608,203 TOTAL 263,334,628 FORM 990, PART XI, LINE 9: UNCOLLECTIBLE CONTRIBUTIONS -829,310. PRB - OTHER THAN NET PERIODIC BEN COSTS -240,394. GAIN/(LOSS) IN VALUE ON SPLIT INTEREST AGREEMENTS 1,137,907. GAIN/(LOSS) IN VALUE OF ANNUITIES AND GIFTS -6,633. CASTLE POINT HOLDINGS INC ONE CASTLE POINT ON HUDSON HOBOKEN NJ 07030 204264786 HOLDING COMPANY - SEE PART VII NJ STEVENS INSTITUTE OF TECHNOLOGY C -20640 416742 1.00000 1 CHARITABLE REMAINDER TRUST (1) TRUST CA N/A T 1 CHARITABLE REMAINDER UNITRUST (3) TRUST RI N/A T 1 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 SCHEDULE R, PART IV, COLUMN (C) CASTLE POINT HOLDINGS, INC., LISTED ON SCHEDULE R, PART IV, IS A HOLDING COMPANY WITH A MINORITY INTEREST IN INACTIVE SUBSIDIARIES. SCHEDULE R, PART IV, COLUMN (C) THE CHARITABLE REMAINDER TRUST/UNITRUSTS LISTED ON PART IV, LINE 2 HAVE THE FOLLOWING LEGAL DOMICILES: CA RI NC OH