2021-06-01T19:25:10-05:00 2020-06-30 770051130 ABBOTT STRINGHAM & LYNCH 1530 MERIDIAN AVE 2ND FLR SAN JOSE CA 95125 990 2019-07-01 942955205 INTERNATIONAL TECHNOLOGICAL UNIVERSITY FOUNDATION INTE 8336370866 3120 SCOTT BLVD SANTA CLARA CA 95054 AMAL MOUGHARBEL CFO 8336370866 2021-06-01 1 SHEBA B DALANEY P00351252 4083778700 2021-06-01 2019 2022-09-23 18:48:47Z X YAU-GENE CHAN 3120 SCOTT BLVD SANTA CLARA CA 95054 10801868 0 X WWW.ITU.EDU X 1984 CA ITU PIONEERS A MODERN, INDUSTRY-FOCUSED EDUCATIONAL MODEL TO DELIVER EDUCATION GLOBALLY. ITU'S EDUCATIONAL PEDAGOGY CULTIVATES INNOVATIVE THINKING, ETHICAL LEADERSHIP, AND AN ENTREPRENEURIAL SPIRIT THROUGH PRACTICAL, INDUSTRY RELEVANT CURRICULUM THAT REFLECTS SILICON VALLEY'S CULTURE. ITU CLOSES THE EMPLOYMENT SKILLS GAP AND EMPOWERS PEOPLE TO LEAD SUCCESSFUL, ENRICHING LIVES AS MEANINGFUL CONTRIBUTORS TO THE GLOBAL COMMUNITY. 7 5 152 7 0 0 14675 11167 8913551 7738639 -2104311 -2916783 0 3025452 6823915 7858475 421091 268331 0 0 7451253 3693946 0 0 0 7079716 5459386 14952060 9421663 -8128145 -1563188 6167910 4352838 5446147 5194265 721763 -841427 X ITU PIONEERS A MODERN, INDUSTRY-FOCUSED EDUCATIONAL MODEL TO DELIVER EDUCATION GLOBALLY. ITU'S EDUCATIONAL PEDAGOGY CULTIVATES INNOVATIVE THINKING, ETHICAL LEADERSHIP, AND AN ENTREPRENEURIAL SPRIT THROUGH PRACTICAL, INDUSTRY RELEVANT CURRICULUM THAT REFLECTS SILICON VALLEY'S CULTURE. ITU CLOSES THE EMPLOYMENT SKILLS GAP AND EMPOWERS PEOPLE TO LEAD SUCCESSFUL, ENRICHING LIVES AS MEANINGFUL CONTRIBUTORS TO THE GLOBAL COMMUNITY. 0 0 4747142 268331 7820698 ITU PROVIDES GRADUATE DEGREE PROGRAMS AT THE MASTER'S LEVEL (MS) IN COMPUTER SCIENCE, SOFTWARE/COMPUTER ENGINEERING (SE/CE), ELECTRICAL ENGINEERING (EE), DIGITAL ARTS, DIGITAL MEDIA MANAGEMENT, INFORMATION & CYBER SECURITY, AND ENGINEERING MANAGEMENT. ITU ALSO OFFERS A MASTER'S OF BUSINESS ADMINISTRATION (MBA) WITH CONCETRATIONS IN AREA OF BUSINESS ANALYTICS, HEALTHCARE MANAGEMENT, AND GENERAL MBA. THE UNIVERSITY OFFERS DOCTOR OF PHILOSOPHY PROGRAMS IN ELECTRICAL ENGINEERING AND IN INTERDISCIPLINARY SCIENCES. IN ADDITION, ITU OFFERS A DOCTORAL PROGRAM IN BUSINESS ADMINISTRATION. 4747142 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 27 0 1 152 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 5 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X YAU-GENE CHAN 4086670788 285 DENISE DR SANTA CLARA CA 95050 PHILIP KING KWAN NG DIRECTOR 40.00 X 199 0 0 JOHN DUBOIS CHAIR AND SECRETARY OF THE BOARD 1.00 X X 0 0 0 DR POLAND HUNG BOARD MEMBER 1.00 X 0 0 0 YALE LAM BOARD MEMBER 1.00 X 0 0 0 YAU-GENE CHAN PRESIDENT AND CEO, BOARD MEMBER 40.00 X X 0 0 0 BHAGAT PATLOLLA ASSISTANT PROVOST 40.00 X 153056 0 26132 MAMOUN ABU-SAMAHA CTO 40.00 X 73601 0 0 AMAL MOUGHARBEL CFO 40.00 X 113302 0 0 IVAN CHAN TREASURER 1.00 X 0 0 0 GREGORY OBRIEN CFO 40.00 X 334148 0 14700 EDWARD LAM CFO 40.00 X 145571 0 0 KRANITHI LAMMATHA CTO 40.00 X 161273 0 19376 MICAH KELLY THOMAS ENROLLMENT DIRECTOR 40.00 X 119043 0 0 KARL WANG RESEARCH DIRECTOR 40.00 X 110891 0 0 MAY HUANG CHAIR AND DIRECTOR 40.00 X 101268 0 0 1312352 0 60208 8 0 1 0 JENZABAR INC 101 HUNTINGTON AVE SUITE 2200 BOSTON MA 02199 EDUCATIONAL MANAGEMENT SYSTEM 145982 UNION EXPRESS TRAVEL INC 7932 PINEVILLE CIR CASTRO VALLEY CA 94552 TRAVEL 124794 2 X 11167 11167 TUITION AND FEES 611600 7434562 7434562 SERVICE REVENUE 611710 304077 304077 7738639 26610 26610 2943393 -2943393 -2943393 -2943393 GAIN ON EARLY LEASE TERMINATION 611710 3025452 3025452 3025452 7858475 7820698 0 26610 268331 268331 1092648 289861 802787 2069691 1083889 985802 300478 150239 150239 231129 115565 115564 200933 48224 152709 68876 68876 40000 40000 45628 35134 10494 47620 5714 41906 199147 175249 23898 1439999 921599 518400 16127 911 15216 6640 2855 3785 14255 9979 4276 500015 333343 166672 42561 8087 34474 SETTLEMENT AGREEMENT EX 1170000 1170000 WRITE OFF OF PREPAID EX 578043 404630 173413 BAD DEBT EXPENSE 329620 329620 OUTSIDE CONTRACTORS 204411 181926 22485 555511 381986 173525 9421663 4747142 4674521 0 431028 2781190 1623264 1109411 17100 57870 60959 503644 112784 1593114 1466574 3543595 126540 118654 8509 26200 6167910 4352838 768865 1018258 1223631 869509 346261 650000 1138987 3453651 1171250 5446147 5194265 X 721763 -841427 721763 -841427 6167910 4352838 X -1563188 -2 X 0 1 X 0 0 X 1564049 1437514 126535 29065 29060 5 126540 SECURITY DEPOSITS HELD 1250 SETTTLEMENT LIABILITY 1170000 1171250 X 7590144 0 7590144 268331 268331 7858475 9153334 2 2 9153332 268331 268331 9421663 PART X, LINE 2: THE UNIVERSITY HAS ADOPTED THE ACCOUNTING STANDARD RELATED TO UNCERTAINTIES IN INCOME TAXES. THE UNIVERSITY EVALUATES UNCERTAIN TAX POSITIONS THROUGH ITS REVIEW OF THE SOURCE OF REVENUE TO IDENTIFY UNRELATED BUSINESS INCOME AND CERTAIN OTHER MATTERS, INCLUDING THOSE WHICH MAY AFFECT ITS TAX EXEMPT STATUS. MANAGEMENT BELIEVES THEIR ESTIMATES RELATED TO INCOME TAX UNCERTAINTIES ARE APPROPRIATE BASED ON THE CURRENT FACTS AND CIRCUMSTANCES. THE UNIVERSITY'S FEDERAL RETURNS OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) FOR YEARS ENDED JUNE 30, 2017 AND AFTER ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. THE ORGANIZATION'S STATE RETURNS (FORM 199) FOR THE YEARS ENDED JUNE 30, 2016 AND AFTER COULD BE SUBJECT TO EXAMINATION BY STATE (CALIFORNIA) TAXING AUTHORITIES, GENERALLY FOR FOUR YEARS AFTER THEY ARE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION ASSISTANCE NETTED WITH TUITION AND FEES 268,331. PART XII, LINE 2D - OTHER ADJUSTMENTS: ROUNDING 2. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION ASSISTANCE NETTED WITH TUITION AND FEES 268,331. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 ITU DOESN'T USE NEWSPAPER OR MEDIA TO PUBLICIZE ITS POLICIES. ITU PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY IN THE STUDENT HANDBOOK AND ENROLLMENT AGREEMENT. 0 SCHOLARSHIPS 97 71749 X 0 1 X X 1 0 0 0 0 0 0 0 0 BHAGAT PATLOLLA ASSISTANT PROVOST 153056 0 0 0 0 0 19000 0 7132 0 179188 0 0 0 GREGORY OBRIEN CFO 334148 0 0 0 0 0 14700 0 0 0 348848 0 0 0 KRANITHI LAMMATHA CTO 161273 0 0 0 0 0 15038 0 4338 0 180649 0 0 0 PART I, LINE 4A GREGORY O'BRIEN: $90,000 KRANTHI LAMMATHA: $13,077 YAU-GENE CHAN CEO PAYROLL PAYMENT X 346261 346261 0 1 0 346261 FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEE MEMBERS ELECT ONE CHAIR FOR EACH OF THE 4 BOARD COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B TAX RETURN IS SENT TO THE FINANCE COMMITTEE FOR REVIEW. RETURN WILL THEN BE SENT TO ALL MEMBERS OF THE BOARD OF TRUSTEES FOR REVIEW AND COMMENTS, AND APPROVED BY THE BOARD OF TRUSTEES BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ITU LEADERS DEVELOPED WITH ONE OF THE BOARD OF TRUSTEE MEMBERS, WHO IS A LAWYER, THE CONFLICT OF INTEREST POLICY. THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO THE BOARD MEMBERS AND REVIEWED IN ONE OF BOARD OF TRUSTEE MEETINGS AND APPROVED BY THE CHAIRS AND ALL MEMBERS. CONFLICT OF INTEREST INFOAMTION IS REQUESTED ANNUALLY FROM ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 15 HR CONSULTANT REVIEWED REPORTS FROM AN EXTERNAL HR ORGANIZATION TO COMPARE THE SALARY OF THE KEY EMPLOYEES. THE SALARY IS APPROVED BY THE CEO FOR THE KEY EMPLOYEES AND BY THE BOARD OF TRUSTEE MEMBERS FOR THE CEO SALARY. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VIII STATEMENT OF REVENUE, LINE 7C AND 11A . THE UNIVERSITY ENTERED INTO A LEASE AGREEMENT FOR ITS CAMPUS LOCATED IN SAN JOSE IN 2014. IN MARCH 2020, THE LEASE WAS TERMINATED BY BOTH PARTIES AND THE UNIVERSITY VACATED THE LOCATION BY APRIL 30, 2020. LEASEHOLD IMPROVEMENTS OF $2,943,393 WERE WRITTEN OFF IN CONNECTION WITH LEASE TERMINATION, AND THE AMOUNT WAS REPORTED AS LOSS ON DISPOSAL ON THE STATEMENT OF REVENUE, LINE 7C. THERE IS A CORRESPONDING WRITE OFF OF $3,025,452 FOR DEFERRED RENT ASSOCIATED WITH THIS LEASE ON LINE 11A. FORM 990, PART XI, LINE 9: ROUNDING -2.