2023-04-18T14:51:02-05:00 2022-06-30 135565207 KPMG LLP 1601 MARKET STREET PHILADELPHIA PA 19103 990 2021-07-01 221487354 STEVENS INSTITUTE OF TECHNOLOGY STEV 2012168761 ONE CASTLE POINT ON HUDSON HOBOKEN NJ 07030 LOUIS MAYER AVP FOR FINANCE 2012168761 2023-04-18 1 LOUIS MAYER 999009999 TESS FANNING P02033722 2672567000 2023-04-18 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JOSEPH CASSIDY ONE CASTLE PT ON HUDSON HOBOKEN NJ 07030 529533108 0 X WWW.STEVENS.EDU X 1870 NJ THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE EDUCATIONAL SERVICES, SEE SCHEDULE O. 33 30 3282 684 71341 0 23091532 26531269 343314102 419310878 7182908 17723142 1759279 2884572 375347821 466449861 106097244 124990017 0 0 157219149 171162041 114003 292760 5693796 86303187 118975857 349733583 415420675 25614238 51029186 910259495 970720079 404779485 434508801 505480010 536211278 X SEE SCHEDULE O 0 0 286606294 124990017 350350786 EDUCATIONAL INSTRUCTION: IN THE ACADEMIC YEAR 2021-2022, STEVENS' ENROLLMENT WAS 4,064 UNDERGRADUATE STUDENTS AND 4,223 GRADUATE STUDENTS. 929 STUDENTS GRADUATED WITH BACHELOR OF ENGINEERING, SCIENCE, BUSINESS OR ARTS DEGREES, 1,282 STUDENTS RECEIVED MASTER'S IN ENGINEERING, SCIENCE OR BUSINESS ADMINISTRATION. 67 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. 53474879 47029368 RESEARCH: RESEARCH CENTERS AND CROSS-DISCIPLINARY RESEARCH INITIATIVES WITH AFFILIATED ORGANIZATIONS AND INFRASTRUCTURE. CREATIVE AND ENTREPRENEURAL RESEARCH IS AN INTEGRAL PART OF THE STEVENS MISSION. THE INSTITUTE HAS BEEN RECOGNIZED BY BOTH THE U.S. DEPARTMENT OF DEFENSE AND THE DEPARTMENT OF HOMELAND SECURITY AS A NATIONAL CENTER OF EXCELLENCE IN THE AREAS OF SYSTEMS ENGINEERING, PORT SECURITY AND INFORMATION ASSURANCE. 37102189 23154485 STUDENT LIFE: THE UNIVERSITY MAINTAINS A 55 ACRE CAMPUS IN HOBOKEN, NEW JERSEY AND PROVIDES STUDENTS WITH ON CAMPUS 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 182 CLUBS, ORGANIZATIONS AND VARSITY SPORTS THAT OFFER THE STUDENTS AMPLE OPPORTUNITY TO PARTICIPATE, BROADEN AND ENRICH THEIR STUDENT LIFE. 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. 377183362 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 7406 0 1 3282 1 1 1 0 0 0 0 1 1 0 0 1 0 X 33 30 1 1 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD MA MI MN 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 1603757 0 29141 YI GUO TRUSTEE/PROFESSOR TO 6/23/2022 55.00 0.00 X 188799 0 23100 RAINER MARTINI TRUSTEE/PROFESSOR 55.00 0.00 X 190301 0 14661 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 DEVON E BROOKS TRUSTEE 1.00 0.00 X 0 0 0 CHARLES J BUSCARINO TRUSTEE AS OF 12/3/21 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 AS OF 12/3/21 1.00 0.00 X 0 0 0 CRISTIAN S COLLADO TRUSTEE TO 5/24/22 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 1.00 0.00 X 0 0 0 JOSEPH G DIPOMPEO TRUSTEE 1.00 0.00 X 0 0 0 MANUEL S ESCOBEDO TRUSTEE AS OF 1/25/22 1.00 0.00 X 0 0 0 EMILIO A FERNANDEZ TRUSTEE TO 12/3/2021 1.00 0.00 X 0 0 0 KAITLIN GILI 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 1.00 0.00 X 0 0 0 EMILY R KOVELESKY TRUSTEE AS OF 5/24/22 1.00 0.00 X 1194 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 ANNMARIE RIZZO TRUSTEE TO 12/3/2021 1.00 0.00 X 0 0 0 RICHARD R ROSCITT 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 FRANK J SEMCER TRUSTEE TO 5/24/2022 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 1.00 0.00 X 0 0 0 VICTORIA VELASCO TRUSTEE 1.00 0.00 X 0 0 0 LOUIS J MAYER VP OF FINANCE/TREASURER, CFO 55.00 0.00 X 447310 0 47392 KATHY L SCHULZ VP & GENERAL COUNSEL/SECRETARY 55.00 0.00 X 459076 0 34242 JOSEPH E CASSIDY AVP FINANCE/ASST TREAS 55.00 0.00 X 259858 0 23168 JIANMIN QU PROVOST & SVP ACAD AFF AS OF 9/1/21 55.00 0.00 X 223407 0 23615 TONIANN BIONDOLILLO ASST SEC/EXEC ASST 55.00 0.00 X 93992 0 16545 CHRISTOPHE PIERRE PROVOST TO 8/31/2021 55.00 0.00 X 586294 0 49436 GREGORY PRASTACOS DEAN 55.00 0.00 X 448855 0 53232 DILHAN KALYON VICE PROVOST 55.00 0.00 X 382785 0 47346 LAURA ROSE VP FOR DEV/ALUM 55.00 0.00 X 369255 0 46934 JEAN ZU DEAN 55.00 0.00 X 381590 0 34242 ELISABETH MCGRATH VP FOR UNIV RELATIONS 55.00 0.00 X 367777 0 29141 ROBERT MAFFIA VP FOR FACILITIES/OPERATIONS 55.00 0.00 X 321677 0 53170 TEJASH PATEL VP FOR INFORMATION TECHNOLOGY 55.00 0.00 X 352500 0 21666 ANTHONY BARRESE INTERIM DEAN AS OF 7/1/21 55.00 0.00 X 282798 0 46776 WARREN PETTY VP FOR HUMAN RES. TO 6/8/2022 55.00 0.00 X 281557 0 23456 CONSTANTIN CHASSAPIS VICE PROVOST 55.00 0.00 X 405595 0 47392 GEORGE KORFIATIS PROFESSOR 55.00 0.00 X 363799 0 47346 DAVID ZENG VICE PROVOST 55.00 0.00 X 352539 0 50270 HADY SALLOUM RESEARCH PROFESSOR 55.00 0.00 X 340811 0 50270 MUHAMMAD HAJJ DEPARTMENT CHAIR 55.00 0.00 X 340608 0 47346 KEITH G SHEPPARD FORMER KEY EMPLOYEE 55.00 0.00 X 254453 0 33175 YEHIA MASSOUD FORMER KEY EMPLOYEE 55.00 0.00 X 208998 0 26919 DAWN DA SILVA FORMER KEY EMPLOYEE 55.00 0.00 X 200861 0 15742 MARYBETH MURPHY FORMER KEY EMPLOYEE 55.00 0.00 X 193677 0 20828 MICHAEL PARENTE FORMER KEY EMPLOYEE 55.00 0.00 X 190448 0 14060 10094571 0 970611 380 1 1 0 TISHMAN CONSTRUCTION 30 KNIGHTSBRIDGE ROAD BLDG 5 2ND F PISCATAWAY NJ 08854 BUILDING CONTRACTOR 30828239 UG2 LLC 116 HUNTINGTON AVENUE 12TH FLOOR BOSTON MA 02116 CLEANING SERVICES 3845616 INTEGRATION PARTNERS 12 HARTWELL AVENUE LEXINGTON MA 02421 IT SERVICES & EQUIPMENT 2352866 FRANKOSKI CONSTRUCTION CO INC 314 DODD STREET EAST ORANGE NJ 07017 CONTRACTOR 1872050 EVENSONBEST LLC 625 MADISON AVE NEW YORK NY 10022 DELIVERY & INSTALLATION FOR FURNITURE 1226140 50 24685 10836547 15670037 857504 26531269 TUITION AND FEES 611600 349332459 349332459 RESEARCH REVENUE 541610 47029368 47029368 STUDENT HOUSING 611710 14299941 14299941 STUDENT DINING 611710 8443907 8443907 TECHNICAL LEADERSHIP 611600 205203 205203 419310878 7596862 71341 7525521 50175 50175 55415 0 55415 55415 55415 65699936 7477562 63051218 0 2648718 7477562 10126280 10126280 37870 24685 32029 5841 5841 PSE&G INCENTIVE PAY 900099 678174 678174 PARKING 812930 449967 256035 193932 COMMISSION ON DINING 900099 158190 158190 1486810 809536 677274 2773141 466449861 420534639 71341 19312612 124990017 124990017 7636144 2925405 4314214 396525 267918 267918 133459171 119234034 11486376 2738761 7439930 6443337 831583 165010 14492480 12551184 1619868 321428 7866398 6812679 879251 174468 1175490 802715 369407 3368 443758 443758 197274 197274 292760 292760 1129633 1129633 25390128 20111213 4455639 823276 7809636 7430113 378897 626 2789897 1681926 894205 213766 7660182 7090407 543418 26357 9072781 8486785 578581 7415 2039517 1958346 58953 22218 561155 366452 150454 44249 4837486 4620515 216971 20424142 19508078 916064 2425481 3118 2422363 RESEARCH CONTRACTS 11396384 11396384 REPAIRS & MAINTENANCE 5159380 4971772 171171 16437 MATERIALS & SUPPLIES 4228361 3793348 334100 100913 BAD DEBT EXPENSE 2619978 2267741 352237 9615194 8340242 928733 346219 415420675 377183362 32543517 5693796 294994 21330302 86582397 88201222 17499728 11300188 18319109 21093331 17145484 19332450 735855533 215440800 467649347 520414733 197937685 194536214 78116900 83174181 26713851 11337458 910259495 970720079 30166676 40382676 17651739 20917418 336897890 358679256 20063180 14529451 404779485 434508801 X 228415104 268399505 277064906 267811773 505480010 536211278 910259495 970720079 X 51029186 -19000193 -1297725 X 0 1 X 1 1 1 X 34755666 3378407 12280858 22786648 26524934 99726513 34755666 3378407 12280858 22786648 26524934 99726513 18993111 80733402 5910248 8695375 7626495 4171209 7693089 34096416 4613674 3148535 3035693 1649162 2811011 15258075 149081004 1760535240 0.54150 0.53330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 253965 0 0 253965 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, 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. 45000 X X X 0 0 272887000 14472347 -9906243 3502583 4676899 269273622 225010000 5006650 50225185 3272013 4082822 272887000 224304000 2856781 4103638 2523056 3731363 225010000 206806000 6994156 15638833 2148623 2986366 224304000 183934000 19393944 9051558 2038014 3535488 206806000 0.09130 0.90870 1 0 1691546 1691546 632969239 161137928 471831311 76713367 37914320 38799047 24481381 16388552 8092829 520414733 ALTERNATIVE INVESTMENTS 17253077 F TRUSTS HELD BY OTHERS 6145972 F SPLIT INTEREST AGREEMENTS 2293506 F PRIVATE EQUITY 57481626 F 83174181 CAPITAL LEASE OBLIGATION 1831845 ANNUITIES PAYABLE 1511667 ACCRUED POST RETIREMENT BENEFIT 5063866 CONDITIONAL ASSET RETIREMENT 4608474 REFUNDABLE ADVANCES 1513599 14529451 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. ADDITIONALLY, IN THE CURRENT FISCAL YEAR, THE UNIVERSITY RECEIVED AMERICAN RESCUE ACT HEERF FUNDING. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 1 PROGRAM SERVICES CONFERENCES/SPEAKING 2475 EAST ASIA AND THE PACIFIC 0 5 PROGRAM SERVICES CONFERENCES/SPEAKING 16320 EUROPE 0 37 PROGRAM SERVICES CONFERENCES/SPEAKING 79321 NORTH AMERICA 0 2 PROGRAM SERVICES CONFERENCES/SPEAKING 2344 NORTH AMERICA 0 1 PROGRAM SERVICES FIELD RESEARCH 228 EUROPE 0 2 PROGRAM SERVICES INSTITUTIONAL DEVELOPMENT 1564 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 32980162 EUROPE 0 0 INVESTMENTS 31882261 0 48 0 0 0 48 64964675 0 64964675 1 0 1 1 1 1 PART III ACCOUNTING METHOD: SCHEDULE F, PART I - ACCOUNTING METHOD 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 EAB GLOBAL INC 1920 EAST PARHAM ROAD RICHMOND VA 23228 DIG & DIRCT MAIL MKT. 0 0 125294 -125294 RUFFALO NOEL LEVITZ LLC 1025 KIRKWOOD PKWY SW CEDAR RAPIDS IA 52404 DIG & DIRCT MAIL MKT. 0 0 108596 -108596 COPPER REEF ENTERPRISES 6965 EL CAMINO REAL STE 105-488 CARLSBAD CA 92009 FUNDRAISING PROGRAM 0 0 26600 -26600 PENTERA INC 8650 COMMERCE PARK PLACE SUITE G INDIANAPOLIS IN 46268 DIG & DIRCT MAIL MKT. 0 0 32270 -32270 292760 -292760 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 UT VA WV WI ATHLETICS GOLF OUTING 62555 24685 37870 26596 1003 4430 62555 24685 37870 26596 1003 4430 32029 5841 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 $8,457 FOR POSTAGE EXPENSES. 1 SCHOLARSHIPS AND GRANTS 5051 122544621 PRIZES/AWARDS 509 555974 STIPENDS 102 1889422 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 X X 1 1 X X X X X X 0 0 0 0 0 0 0 1 0 NARIMAN FARVARDIN PRESIDENT/TRUSTEE 868957 0 710687 0 24113 0 29000 0 141 0 1632898 0 0 0 CHRISTOPHE PIERRE PROVOST TO 8/31/2021 568794 0 17500 0 0 0 29000 0 20436 0 635730 0 0 0 GREGORY PRASTACOS DEAN 438355 0 10500 0 0 0 29000 0 24232 0 502087 0 0 0 LOUIS J MAYER VP OF FINANCE/TREASURER, CFO 429810 0 17500 0 0 0 29000 0 18392 0 494702 0 0 0 KATHY L SCHULZ VP & GENERAL COUNSEL/SECRETARY 441576 0 17500 0 0 0 26100 0 8142 0 493318 0 0 0 CONSTANTIN CHASSAPIS VICE PROVOST 392095 0 13500 0 0 0 29000 0 18392 0 452987 0 0 0 DILHAN KALYON VICE PROVOST 375785 0 7000 0 0 0 29000 0 18346 0 430131 0 0 0 LAURA ROSE VP FOR DEV/ALUM 347255 0 22000 0 0 0 26100 0 20834 0 416189 0 0 0 JEAN ZU DEAN 350052 0 12500 0 19038 0 26100 0 8142 0 415832 0 0 0 GEORGE KORFIATIS PROFESSOR 362299 0 1500 0 0 0 29000 0 18346 0 411145 0 0 0 DAVID ZENG VICE PROVOST 340039 0 12500 0 0 0 26100 0 24170 0 402809 0 0 0 ELISABETH MCGRATH VP FOR UNIV RELATIONS 345277 0 22500 0 0 0 29000 0 141 0 396918 0 0 0 HADY SALLOUM RESEARCH PROFESSOR 338561 0 2250 0 0 0 26100 0 24170 0 391081 0 0 0 MUHAMMAD HAJJ DEPARTMENT CHAIR 336858 0 3750 0 0 0 29000 0 18346 0 387954 0 0 0 ROBERT MAFFIA VP FOR FACILITIES/OPERATIONS 295777 0 17500 0 8400 0 29000 0 24170 0 374847 0 0 0 TEJASH PATEL VP FOR INFORMATION TECHNOLOGY 335000 0 17500 0 0 0 21525 0 141 0 374166 0 0 0 ANTHONY BARRESE INTERIM DEAN AS OF 7/1/21 274298 0 8500 0 0 0 28430 0 18346 0 329574 0 0 0 WARREN PETTY VP FOR HUMAN RES. TO 6/8/2022 259057 0 22500 0 0 0 23315 0 141 0 305013 0 0 0 KEITH G SHEPPARD FORMER KEY EMPLOYEE 251953 0 2500 0 0 0 25051 0 8124 0 287628 0 0 0 JOSEPH E CASSIDY AVP FINANCE/ASST TREAS 255858 0 4000 0 0 0 23027 0 141 0 283026 0 0 0 JIANMIN QU PROVOST & SVP ACAD AFF AS OF 9/1/21 184143 0 0 0 39264 0 17500 0 6115 0 247022 0 0 0 YEHIA MASSOUD FORMER KEY EMPLOYEE 208998 0 0 0 0 0 14834 0 12085 0 235917 0 0 0 DAWN DA SILVA FORMER KEY EMPLOYEE 194861 0 6000 0 0 0 15601 0 141 0 216603 0 0 0 MARYBETH MURPHY FORMER KEY EMPLOYEE 193677 0 0 0 0 0 16075 0 4753 0 214505 0 0 0 YI GUO TRUSTEE/PROFESSOR TO 6/23/2022 188799 0 0 0 0 0 14958 0 8142 0 211899 0 0 0 RAINER MARTINI TRUSTEE/PROFESSOR 185334 0 4967 0 0 0 14520 0 141 0 204962 0 0 0 MICHAEL PARENTE FORMER KEY EMPLOYEE 185581 0 4867 0 0 0 13919 0 141 0 204508 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. RAINER MARTINI AND MICHAEL PARENTE RECEIVED A TAX GROSS UP PAYMENT FOR A EMPLOYEE RECOGNITION AWARD. THE PAYMENT WAS TREATED AS TAXABLE COMPENSATION FOR BOTH INDIVIDUALS. 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: JIANMIN QU, 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 $843,648, THESE AMOUNTS INCLUDE (I) A ONE-TIME INCENTIVE COMPENSATION PAYMENT OF $500,000 ASSOCIATED WITH SPECIFIC METRICS SPECIFIED BY THE UNIVERSITY'S BOARD OF TRUSTEES AND ACHIEVED OVER THE COURSE OF THE AGREEMENT AND PAYABLE AT THE END OF THE FIFTH AND FINAL YEAR OF THE AGREEMENT AND (II) AN ANNUAL INCENTIVE COMPENSATION PAYMENT OF $210,687 ASSOCIATED WITH ACHIEVEMENT OF SEPARATE METRICS FOR THE UNIVERSITY'S FISCAL YEAR ENDED 6/30/2021. 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 A 209648096 1000262 191592779 17055055 2022 0 0 1 1 B 10480000 132589361 911558 76000000 55677803 2021 1 0 1 1 C 1362181 17575574 141074 17434500 2018 0 0 1 1 A 0 0 1 1 1 1 0 0 1 B 0 0 1 1 1 1 0 0 1 C 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 1 0 0 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART I, BOND ISSUES 1. 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. 2. 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. 3. 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 III, PRIVATE BUSINESS USE, LINES 4 & 5 THE UNIVERSITY HAS SERVICE CONTRACTS AND RESEARCH AGREEMENTS THAT MAY RESULT IN PRIVATE BUSINESS USE. THESE AMOUNTS WERE DETERMINED TO BE WITHIN THE PERMITTED LEVELS OVER THE LIFE OF EACH BOND, THEREFORE, A PERCENTAGE WAS NOT DISCLOSED. ADDITIONALLY, THE UNIVERSITY HAS RETAINED KPMG TO CONSULT AND ADVISE ON THE CURRENT PRIVATE BUSINESS USE; THIS REVIEW SHOULD BE COMPLETED FOR THE FISCAL YEAR ENDED JUNE 30, 2023. PART IV, ARBITRAGE REBATE, LINE 2B ISSUE 2017 SERIES A BONDS - 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 1 1 FMV X 15 774628 FMV X MODEL 1 45000 FMV X MISC EQUIP. 2 37875 FMV 1 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". COVID-19 IMPACT THE CONTINUED SPREAD OF THE CORONAVIRUS (COVID-19) AROUND THE WORLD HAS CAUSED SIGNIFICANT VOLATILITY IN THE U.S. AND INTERNATIONAL MARKETS. WHILE THE UNIVERSITY DID EXPERIENCE UNREALIZED LOSSES TO THE MARKET VALUE OF ITS ENDOWMENT ASSETS DURING THE FISCAL YEAR ENDED JUNE 30, 2022, THE EFFECT WAS NOT MATERIAL DUE TO CONTINUED CONTRIBUTIONS. STUDENTS WERE ABLE TO RETURN TO CAMPUS AND CONTINUED GOVERNMENT GRANTS PROVIDED RELIEF FOR THE STUDENT AND COVID-19 RELATED EXPENSES. THERE IS, HOWEVER, UNCERTAINTY AROUND THE BREADTH AND DURATION OF BUSINESS DISRUPTIONS RELATED TO COVID-19, AS WELL AS ITS IMPACT ON THE U.S. AND INTERNATIONAL ECONOMIES AND, AS SUCH, WHILE IT MAY HAVE AN IMPACT ON THE FUTURE OPERATIONS, IT IS NOT EXPECTED TO BE MATERIAL. 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 FAMILY RELATIONSHIP TWO OF STEVENS' TRUSTEES ARE RELATED BY MARRIAGE. TRUSTEE KAREN CAROLONZA IS THE STEP-DAUGHTER-IN-LAW OF TRUSTEE FRANK SEMCER. ALL SUCH RELATIONSHIPS ARE DISCLOSED AS PART OF STEVENS' ANNUAL CONFLICT OF INTEREST DISCLOSURE PROCESS AND REPORTED TO THE AUDIT AND RISK COMMITTEE AND TO THE BOARD OF TRUSTEES. MITIGATION EFFORTS WILL BE EMPLOYED BY THE SECRETARY TO THE BOARD AND THE CHAIRMAN OF THE BOARD, IF NEEDED, TO AVOID ANY IMPACT ON STEVENS RELATING TO THESE RELATIONSHIPS. FORM 990, PART VI, SECTION A, LINE 3 GOVERNING BODY AND MANANGEMENT 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 A, LINE 4 GOVERNING DOCUMENTS THE EXECUTIVE COMMITTEE CHARTER WAS AMENDED ON DECEMBER 3, 2021 TO REFLECT ITS MEMBERSHIP CONSISTS OF THE CHAIRS OF ALL BOARD COMMITTEES AND THE CHAIRMAN OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW THIS FORM 990 WAS PREPARED BY MEMBERS OF 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 SUPERVISED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES OR THE CHAIRMAN OF THE AUDIT COMMITTEE, 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 THE GENERAL COUNSEL FOR FURTHER ANALYSIS AND RESOLUTION. CERTAIN CONFLICTS RELATING TO RESEARCH ACTIVITIES MAY BE MANAGED BY THE EXECUTIVE DIRECTOR OF THE OFFICE OF SPONSORED PROGRAMS, 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 2021, 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 AND STUDENT AFFAIRS VICE PRESIDENT FOR INFORMATION TECHNOLOGY AND CIO VICE PRESIDENT FOR COMMUNICATIONS AND MARKETING VICE PRESIDENT FOR HUMAN RESOURCES VICE PRESIDENT FOR GOVERNMENT AND COMMUNITY RELATIONS, CHIEF OF STAFF FACULTY TRUSTEE (2) ALL SUCH COMPENSATION WAS DETERMINED BASED UPON RECOMMENDATIONS FROM THE PRESIDENT (EXCEPT WITH RESPECT TO THE PRESIDENT, WHOSE COMPENSATION IS RECOMMENDED BY THE BOARD OF TRUSTEES, 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 BIENNIAL 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 187,028,285 FIXED INCOME 7,507,929 TOTAL 194,536,214 FORM 990, PART XI, LINE 9: POST-RETIREMENT BENEFIT CHANGES -355,929. UNCOLLECTIBLE CONTRIBUTIONS -428,530. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -400,810. LOSS IN VALUE OF ANNUITIES AND GIFTS -13,425. ADJUSTMENT FOR CPH NET ASSETS IN FY22 -99,021. MISCELLANEOUS LOSS -10. CASTLE POINT HOLDINGS INC ONE CASTLE POINT ON HUDSON HOBOKEN NJ 07030 204264786 HOLDING COMPANY - SEE PART VII NJ STEVENS INSTITUTE OF TECHNOLOGY C -19987 408943 1.00000 1 CHARITABLE REMAINDER TRUST (1) TRUST OH N/A T 1 CHARITABLE REMAINDER UNITRUST (3) TRUST NJ 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 MD NC NJ