2025-11-11T13:05:22-06:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 4747 EXECUTIVE DR SUITE 1300 SAN DIEGO CA 92121 990 2024-01-01 942933165 SAN FRANCISCO BAY UNIVERSITY SANF 5108037328 161 MISSION FALLS LANE FREMONT CA 94539 SHERI BOSCARO CFO 5108037328 2025-11-10 1 1 PATRICIA J MAYER P00188643 8586271400 2025-11-10 2024 2025-03-06 01:10:19Z NICHOLAS LADANY 161 MISSION FALLS LANE FREMONT CA 94539 249244872 0 X HTTPS://WWW.SFBU.EDU/ X 1984 CA SAN FRANCISCO BAY UNIVERSITY PROVIDES DIVERSE LEARNERS WITH INCLUSIVE, INNOVATIVE, AND INSPIRATIONAL EDUCATION FOR LIFELONG PERSONAL AND CAREER SUCCESS. 9 9 185 15 0 0 0 0 4183382 5533333 19741011 12251521 -177895 554188 23746498 18339042 3035195 3997423 0 0 5388010 10513663 0 0 0 6957641 14281958 15380846 28793044 8365652 -10454002 306152496 325051032 1219946 2883960 304932550 322167072 TO PROVIDE QUALITY HIGHER EDUCATION TO HELP INDIVIDUALS OF DIVERSE BACKGROUNDS, INTERESTS, AND SKILLS ACHIEVE THEIR FULL ACADEMIC AND CAREER POTENTIAL. 0 0 16188232 3997423 5533333 SAN FRANCISCO BAY UNIVERSITY ("SFBU") IS AN INSTITUTION OF HIGHER EDUCATION OFFERING DEGREES AND CERTIFICATES AT THE UNDERGRADUATE AND GRADUATE LEVEL IN FIELDS SUCH AS BUSINESS ADMINISTRATION, COMPUTER SCIENCE, BUSINESS ANALYTICS, ENGINEERING, AND DATA SCIENCE. SFBU HAS BEEN ACCREDITED BY WASC SENIOR COLLEGE AND UNIVERSITY COMMISSION (WSCUC) SINCE 2020. THE INTENSIVE ENGLISH PROGRAM RECEIVED ACCREDITATION FROM THE COMMISSION ON ENGLISH LANGUAGE PROGRAM ACCREDITATION (CEA) IN 2020. SFBU PROVIDES GUEST SPEAKER LECTURES, ORIENTATION, CAREER COUNSELING SERVICES, LIBRARY SERVICES, FIELD TRIPS, CLUB ACTIVITIES, CULTURAL EVENTS, AND OTHER SERVICES TO SUPPORT STUDENT EDUCATION. 16188232 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 35 0 1 185 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X SHERI BOSCARO 5108037328 161 MISSION FALLS LANE FREMONT CA 94539 X HANNO SANDER CHAIRMAN OF THE BOARD (THRU 7/24) 1.00 X X 0 0 0 JAY BORGES DIRECTOR, SECRETARY (AS OF 7/24) 1.00 X X 0 0 0 ANN BISHOP DIRECTOR (THRU 7/24) 1.00 X 0 0 0 CARLTON BROWN DIRECTOR 1.00 X 0 0 0 CRISTENE BURR DIRECTOR 1.00 X 0 0 0 DAVID LOPEZ DIRECTOR 1.00 X 0 0 0 ED ALVAREZ DIRECTOR (THRU 12/24) 1.00 X 0 0 0 ELENA FROST DIRECTOR 1.00 X 0 0 0 GUNJAN PATEL DIRECTOR 1.00 X 0 0 0 JANICE SCOTT DIRECTOR (THRU 6/24) 1.00 X 0 0 0 JOHNNY YEH DIRECTOR (THRU 6/24) 1.00 X 0 0 0 KEMAL ATKINS DIRECTOR 1.00 X 0 0 0 MARIA MEDRANO DIRECTOR 1.00 X 0 0 0 ROY BIGGE DIRECTOR (THRU 6/24) 1.00 X 0 0 0 VICTORIA LION MONROE DIRECTOR 1.00 X 0 0 0 NICHOLAS LADANY PRESIDENT 40.00 X 477638 0 30191 MELISSA MILLORA EXECUTIVE VP/COO 40.00 X 299115 0 24259 ANNE SUTARDJI CHIEF FINANCIAL OFFICER (THRU 3/24) 40.00 X 272808 0 7314 CALVIN YU CHIEF FINANCIAL OFFICER (THRU 9/24) 40.00 X 149712 0 7656 BRADLEY FUSTER VP ACADEMIC AFFAIRS/PROVOST 40.00 X 171967 0 12540 BRIAN KIM GENERAL COUNSEL 40.00 X 172218 0 10463 NELLY MANGAROVA CHIEF ACADEMIC OFFICER (THRU 3/24) 40.00 X 165293 0 6469 HEATHER HERRERA VP OF STRATEGY AND INNOVATION 40.00 X 287529 0 21795 STEPHANIE KRUSEMARK VP OF ENROLLMENT MANAGEMENT 40.00 X 232353 0 13719 EVELIA LOPEZ SENIOR DIRECTOR OF OUTREACH 40.00 X 188992 0 21236 PETER MARIBEI SENIOR DIRECTOR OF CAREER SERVICES 40.00 X 166644 0 18299 ELTON LI SENIOR DIRECTOR OF INFORMATION TECH 40.00 X 162715 0 21257 PAUL CHOI FORMER EXECUTIVE VP/COO 40.00 X 117002 0 0 2863986 0 195198 20 1 1 0 HURON CONSULTING SERVICES LLC PO BOX 71223 CHICAGO IL 71223 PROFESSIONAL CONSULTING SERVICES 1700840 RW JONES AGENCY PO BOX 546 MEADOWLANDS PA 15347 ADVERTISING AND MARKETING SERVICES 982936 TONDRO CONSULTING LLC 111 CONGRESS AVENUE SUITE 500 AUSTIN TX 78701 SALESFORCE IMPLEMENTATION CONSULTING 549612 CLARUS GROUP 10801 MASTIN STREET SUITE 1050 OVERLAND PARK KS 66210 SALESFORCE IMPLEMENTATION CONSULTING 182421 EDUCATION TRAILBLAZERS LLC 561 HOLTHOUSE TERRACE SUNNYVALE CA 94087 SALESFORCE IMPLEMENTATION CONSULTING 177748 14 TUITION FEES 611310 5533333 5533333 5533333 5446721 5446721 1492485 1139979 352506 352506 352506 232350651 4220000 227108703 2657148 5241948 1562852 6804800 6804800 OTHER INCOME 900001 201682 201682 201682 18339042 5533333 0 12805709 X 3997423 3997423 1807643 1106738 700905 7029752 4303999 2725753 238287 136804 101483 794018 557473 236545 643963 408894 235069 162782 162782 127279 127279 904383 904383 4833966 1000978 3832988 957336 147702 809634 385008 242214 142794 1615440 612024 1003416 2827650 2107024 720626 131350 81607 49743 159376 159376 1461520 906142 555378 663285 526627 136658 52583 52583 28793044 16188232 12604812 0 4477225 1607027 15130635 1232497 495720 534832 800249 1086328 62291286 17130088 41884491 45161198 243364176 275429150 306152496 325051032 613684 2227293 413833 477407 192429 179260 1219946 2883960 X 304932550 322167072 304932550 322167072 306152496 325051032 -10454002 27688524 0 X 0 1 X 1 0 X 17717678 17717678 22800508 9971467 12829041 16633457 3128822 13504635 3692555 3555190 137365 1447088 474609 972479 45161198 SECURITY DEPOSITS 154645 DEFERRED RENT 24615 179260 X 42265739 27688524 27688524 14577215 904383 2857444 3761827 18339042 25031217 0 25031217 904383 2857444 3761827 28793044 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. 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 3,997,423. RENTAL EXPENSE RECLASS -1,139,979. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,997,423. RENTAL EXPENSE RECLASS -1,139,979. 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 & SCHOLARSHIPS 554 3834852 FAIR MARKET VALUE TUITION REDUCTION STUDENT HOUSING ASSISTANCE 30 120850 FAIR MARKET VALUE DORM FEE REDUCTION FOOD/EMERGENCY FUND 17 41721 FAIR MARKET VALUE FREE FOOD & EMERGENCY FUNDS TO STUDENTS 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 X 1 0 0 0 0 0 0 0 0 NICHOLAS LADANY PRESIDENT 385000 0 19250 0 73388 0 17250 0 12941 0 507829 0 0 0 MELISSA MILLORA EXECUTIVE VP/COO 278540 0 20000 0 575 0 11624 0 12635 0 323374 0 0 0 HEATHER HERRERA VP OF STRATEGY AND INNOVATION 255729 0 0 0 31800 0 12816 0 8979 0 309324 0 0 0 ANNE SUTARDJI CHIEF FINANCIAL OFFICER (THRU 3/24) 81065 0 0 0 191743 0 4066 0 3248 0 280122 0 0 0 STEPHANIE KRUSEMARK VP OF ENROLLMENT MANAGEMENT 206878 0 25000 0 475 0 7905 0 5814 0 246072 0 0 0 EVELIA LOPEZ SENIOR DIRECTOR OF OUTREACH 188392 0 0 0 600 0 5970 0 15266 0 210228 0 0 0 PETER MARIBEI SENIOR DIRECTOR OF CAREER SERVICES 146094 0 20000 0 550 0 5520 0 12779 0 184943 0 0 0 BRADLEY FUSTER VP ACADEMIC AFFAIRS/PROVOST 151667 0 20000 0 300 0 4506 0 8034 0 184507 0 0 0 ELTON LI SENIOR DIRECTOR OF INFORMATION TECH 161875 0 0 0 840 0 6651 0 14606 0 183972 0 0 0 BRIAN KIM GENERAL COUNSEL 151818 0 20000 0 400 0 6516 0 3947 0 182681 0 0 0 NELLY MANGAROVA CHIEF ACADEMIC OFFICER (THRU 3/24) 89790 0 0 0 75503 0 4493 0 1976 0 171762 0 0 0 CALVIN YU CHIEF FINANCIAL OFFICER (THRU 9/24) 86203 0 16667 0 46842 0 4401 0 3255 0 157368 0 0 0 PAUL CHOI FORMER EXECUTIVE VP/COO 0 0 0 0 117002 0 0 0 0 0 117002 0 0 0 PART I, LINE 1A NICHOLAS LADANY AND HEATHER HERRERA RECEIVED HOUSING ALLOWANCE AS TAXABLE FRINGE BENEFITS. PART I, LINE 4A THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PAYMENTS DURING 2024: PAUL CHOI - $117,002, NEDIALKA MANGAROVA - $73,333, ANNE SUTARDJI - $191,498, AND CALVIN YU - $46,667. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM. A DRAFT OF THE FORM IS REVIEWED BY THE AUDIT COMMITTEE. 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 AND CFO, 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. COMPENSATION APPROVAL FOR OTHER OFFICERS AND KEY EMPLOYEES IS BASED ON USING COMPARABLES, WORKING WITH HUMAN RESOURCES, AND DOCUMENTING COST OF LIVING INCREASES. 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. PART VII, SECTION A CALVIN YU WAS SFBU'S CFO FROM 6/17/2024-9/26/2024. THEN THERE WAS NO OTHER NAMED CFO NAMED UNTIL 2/4/2025 (SHERI BOSCARO). DUE TO VACANCIES IN THE CFO AND CONTROLLER POSITIONS, SFBU ENGAGED HURON CONSULTING GROUP FOR INTERIM FINANCIAL LEADERSHIP SUPPORT FROM OCTOBER 2024 THROUGH JANUARY 2025. HURON'S ROLES INCLUDED FINANCIAL OPERATIONS MANAGEMENT, AS WELL AS OVERSIGHT OF ACCOUNTING AND REPORTING ACTIVITIES. AS NOTED IN THE ENGAGEMENT AGREEMENT, HURON IS NOT A CPA FIRM AND DID NOT ASSUME SIGNATURE AUTHORITY, SUPERVISORY, OR GOVERNANCE ROLES ON BEHALF OF SFBU. FORM 990, PART IX, LINE 11G CONSULTING FEES: PROGRAM SERVICE EXPENSES 887,562. MANAGEMENT AND GENERAL EXPENSES 3,169,514. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,057,076. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 113,416. MANAGEMENT AND GENERAL EXPENSES 663,474. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 776,890.