2023-10-31T13:52:48-05:00 2022-12-31 910189318 MOSS ADAMS LLP 4747 EXECUTIVE DR SUITE 1300 SAN DIEGO CA 92121 990 2022-01-01 942933165 SAN FRANCISCO BAY UNIVERSITY SANF 5105929688 161 MISSION FALLS LANE FREMONT CA 94539 ANNE SUTARDJI CFO 5105929688 2023-10-31 1 ANNE SUTARDJI 999009999 1 PATRICIA J MAYER P00188643 8586271400 2023-10-31 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z NICHOLAS LADANY 161 MISSION FALLS LANE FREMONT CA 94539 34234365 0 X HTTPS://WWW.SFBU.EDU/ X 1984 CA PROVIDE A HIGHER LEARNING ENVIRONMENT THAT MOTIVATES LEARNERS TO PURSUE INTELLECTUAL GROWTH. 8 8 65 8 0 0 583700 0 708280 1674008 6116862 9308280 -110289 3771803 7298553 14754091 509265 1164825 0 0 4048015 4282176 0 0 0 3833185 5945868 8390465 11392869 -1091912 3361222 295269122 264099503 886193 995799 294382929 263103704 TO PROVIDE QUALITY HIGHER EDUCATION TO HELP INDIVIDUALS OF DIVERSE BACKGROUNDS, INTERESTS, AND SKILLS ACHIEVE THEIR FULL ACADEMIC AND CAREER POTENTIAL. 0 0 5021623 1013398 1474047 SAN FRANCISCO BAY UNIVERSITY ("SFBU") OFFERS BACHELORS AND MASTERS PROGRAMS IN ENGINEERING AND BUSINESS. FOR MASTERS DEGREE STUDENTS, SFBU OFFERS ONSITE CLASSES AS WELL AS THE ONLINE MBA PROGRAM, WHICH WAS APPROVED BY WSCUC IN 2021. SFBU PROVIDES GUEST SPEAKER LECTURES, ORIENTATION, CAREER COUNSELING SERVICES, LIBRARY SERVICES, FIELD TRIPS, AND OTHER SERVICES TO SUPPORT STUDENT EDUCATION. MASTERS DEGREE STUDENTS ARE ALSO EXPOSED TO GRADUATE LEVEL CURRICULUM THAT ENABLE FUTURE SUCCESS IN THEIR FIELDS. 750357 151427 199961 FOR BACHELORS DEGREE STUDENTS, SFBU OFFERS ONSITE CLASSES, GUEST SPEAKER LECTURES, ORIENTATION, CAREER COUNSELING SERVICES, LIBRARY SERVICES, FIELD TRIPS, AND OTHER SERVICES TO SUPPORT STUDENT EDUCATION. ON JUNE 26, 2020, NPU WAS ACCREDITED BY THE WASC SENIOR COLLEGE AND UNIVERSITY COMMISSION (WSCUC). ON DECEMBER 17, 2020, SFBU'S INTENSIVE ENGLISH PROGRAM WAS ACCREDITED BY THE COMMISSION ON ENGLISH LANGUAGE PROGRAM ACCREDITATION. 5771980 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 47 0 1 65 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X ANNE SUTARDJI 5102569620 161 MISSION FALLS LANE FREMONT CA 94539 PETER HSIEH PRESIDENT 40.00 X X 316420 0 43320 HANNO SANDER DIRECTOR 1.00 X 0 0 0 ANN BISHOP DIRECTOR 1.00 X 0 0 0 ELENA FROST DIRECTOR 1.00 X 0 0 0 YUZHE HAN DIRECTOR 1.00 X 0 0 0 JOHNNY YEH DIRECTOR 1.00 X 0 0 0 JANICE SCOTT DIRECTOR 1.00 X 0 0 0 GUNJAN PATEL DIRECTOR 1.00 X 0 0 0 ROY BIGGE DIRECTOR 1.00 X 0 0 0 JOSEPH TING DIRECTOR 1.00 X 0 0 0 PAUL JENSEN DIRECTOR 1.00 X 0 0 0 ANGELI MANNEY DIRECTOR 1.00 X 0 0 0 SYED IJAZ DIRECTOR 1.00 X 0 0 0 ANNE SUTARDJI CHIEF FINANCIAL OFFICER 50.00 X 175840 0 9166 PAUL CHOI EXECUTIVE VP/CHIEF OPERATI 40.00 X 461812 0 16280 NELLY MANGAROVA CHIEF ACADEMIC OFFICER 45.00 X 207440 0 20738 ELTON LI DIRECTOR OF IT & COMPUTING 45.00 X 150878 0 6146 HE YAN SENIOR SOFTWARE DEVELOPMEN 40.00 X 140986 0 6406 THAWI IWAGOSHI DEAN OF ENGINEERING SCHOOL 45.00 X 133232 0 5846 JAMES CONNORS DEAN OF BUSINESS SCHOOL 45.00 X 115091 0 4599 1701699 0 112501 8 0 1 0 LOEB & LOEB LLP 10100 SANTA MONICA BLVD SUITE 2200 LOS ANGELES CA 90067 LEGAL SERVICES 333440 CAPLIN & DRYSDALE ONE THOMAS CIRCLE NW SUITE 1100 WASHINGTON DC DC 20005 LEGAL SERVICES 250173 EMERGENT LLP 155 MONTGOMERY STREET SUITE 300 SAN FRANCISCO CA 94104 LEGAL SERVICES 234673 TOVELLA DOWLING PC 600 W BROADWAY SUITE 660 SAN DIEGO CA 92101 LEGAL SERVICES 184264 JM O'NEILL INC 354 EARNHART WAY LIVERMORE CA 94551 CONSTRUCTION OF NEW CAMPUS 106248 5 TUITION FEES 611310 1674008 1674008 1674008 1671817 1671817 1653628 2246687 -593059 -593059 -593059 8080000 16790050 6050495 11183092 2029505 5606958 7636463 7636463 OTHER INCOME 900001 4364862 4364862 4364862 14754091 1674008 0 13080083 1164825 1164825 1251015 697254 553761 2605262 1584762 1020500 75650 47185 28465 116995 72974 44021 233254 145488 87766 30468 30468 1713046 1713046 293137 293137 309914 193304 116610 313546 195569 117977 104706 65309 39397 279014 174030 104984 8588 5357 3231 1154364 720015 434349 326361 326361 REPAIRS AND MAINTENANCE 366896 228845 138051 REAL ESTATE TAXES 256961 256961 FACILITY EXPENSES 217725 135802 81923 571142 341261 229881 11392869 5771980 5620889 0 5303408 18060345 132219 229369 407222 218125 65410978 15858208 58702038 49552770 230724235 196038894 295269122 264099503 575302 584407 84987 245055 225904 166337 886193 995799 X 294382929 263103704 294382929 263103704 295269122 264099503 3361222 -34640447 0 X 0 1 X 1 0 X 19728749 19728749 39945652 11467155 28478497 1849295 545035 1304260 3432086 3390822 41264 455196 455196 0 49552770 SECURITY DEPOSITS 161616 DEFERRED RENT 4721 166337 X -18804494 -34640447 -34640447 15835953 -1081862 -1081862 14754091 12474731 0 12474731 -1081862 -1081862 11392869 PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE, SECTION 23701D. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. RE HLDGS LLC IS A PASSTHROUGH ENTITY FOR INCOME TAX REPORTING PURPOSES AND, ACCORDINGLY, DOES NOT PAY TAX ON ITS INCOME. INSTEAD, INCOME OR LOSS IS REPORTED ON THE TAX RETURNS OF THE UNIVERSITY. THE ENTITY IS SUBJECT TO A MINIMUM FRANCHISE TAX FOR THE STATE OF CALIFORNIA. EACH YEAR, MANAGEMENT CONSIDERS WHETHER ANY MATERIAL TAX POSITION THE UNIVERSITY HAS TAKEN IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY. MANAGEMENT BELIEVES THAT ANY POSITIONS THE UNIVERSITY HAS TAKEN ARE SUPPORTED BY SUBSTANTIAL AUTHORITY, AND HENCE, DO NOT NEED TO BE MEASURED OR DISCLOSED IN THESE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,164,825. RENTAL EXPENSE RECLASS -2,246,687. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,164,825. RENTAL EXPENSE RECLASS -2,246,687. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATION POLICY CAN BE FOUND ON THE ORGANIZATION'S INTERNET HOMEPAGE. 1 TUITION GRANTS 123 541350 FAIR MARKET VALUE TUITION REDUCTION TUITION SCHOLARSHIPS 79 488475 FAIR MARKET VALUE TUITION REDUCTION STUDENT HOUSING ASSISTANCE 45 135000 FAIR MARKET VALUE DORM FEE REDUCTION PART I, LINE 2: THE SFBU SCHOLARSHIPS PROGRAM WAS ESTABLISHED TO HONOR MERITORIOUS AND MULTIFACETED STUDENTS. SCHOLARSHIPS ARE OFFERED TO QUALIFIED APPLICANTS, CURRENT STUDENTS AND ALUMNI (BOTH DOMESTIC AND INTERNATIONAL). THE SFBU SCHOLARSHIP COMMITTEE IS RESPONSIBLE FOR EVALUATING, SELECTING, AND AWARDING SCHOLARSHIPS. TERMS AND MINIMUM ELIGIBILITY FOR CONSIDERATION CAN BE FOUND AT SFBU.EDU/ADMISSIONS/SCHOLARSHIPS. X 1 1 X X X 0 0 0 0 0 0 0 0 0 PAUL CHOI EXECUTIVE VP/CHIEF OPERATI 350240 0 0 0 111572 0 15250 0 1030 0 478092 0 0 0 PETER HSIEH PRESIDENT 204953 0 80000 0 31467 0 4554 0 38766 0 359740 0 0 0 NELLY MANGAROVA CHIEF ACADEMIC OFFICER 200240 0 0 0 7200 0 9285 0 11453 0 228178 0 0 0 ANNE SUTARDJI CHIEF FINANCIAL OFFICER 175840 0 0 0 0 0 7971 0 1195 0 185006 0 0 0 ELTON LI DIRECTOR OF IT & COMPUTING 150878 0 0 0 0 0 6146 0 0 0 157024 0 0 0 PART I, LINE 1A PAUL CHOI AND PETER HSIEH RECEIVED HOUSING ALLOWANCE AS TAXABLE FRINGE BENEFIT. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM. A DRAFT OF THE FORM 990 IS REVIEWED BY THE PRESIDENT AND CFO. THE FINAL VERSION OF THE FORM 990 IS SUBMITTED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY. THE ORGANIZATION MONITORS ANY CONFLICTS OF INTEREST AS NEEDED TO ENSURE THAT ALL CONFLICTS ARE PROPERLY DISCLOSED AND KNOWN BY THE BOARD OF DIRECTORS. IF A CONFLICT ARISES, THE PERSON WITH A CONFLICT IS NOT ALLOWED TO VOTE ON THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 WITH REGARD TO COMPENSATION FOR THE PRESIDENT, CFO, COO AND CAO, THE ORGANIZATION MAINTAINS AN EXECUTIVE COMPENSATION AND HOUSING COMMITTEE. THIS COMMITTEE EVALUATES AND SETS EXECUTIVE COMPENSATION AND, TO INFORM ITS DECISIONS, HAS HISTORICALLY USED COMPARABLES AND COMPENSATION STUDIES BY INDEPENDENT THIRD PARTIES. THE APPROVAL PROCESS IS DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES DOCUMENTS REFERENCED IN PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST. RE HLDGS LLC 1674 ROSELAND DR CONCORD CA 94519 822132213 REAL ESTATE HOLDING COMPANY CA 0 0 SAN FRANCISCO BAY UNIVERSITY