2019-04-09T09:26:37-05:00 2017-06-30 420714325 RSM US LLP 1145 Broadway Plaza Suite 900 Tacoma WA 984023529 990 2016-07-01 830403915 THE TOWER FOUNDATION OF SAN JOSE STATE UNIVERSITY TOWE 4089241765 ONE WASHINGTON SQUARE SAN JOSE CA 951920183 LESLIE ROHN COO 4089241765 2019-04-08 1 Christy Engelmann P00745224 2535727111 66.98.98.9 2019-04-08 15:51:17 ED 91755220180800349e04 2018-03-21 P 0E279D1CE1F7CF495AA2FBE41A2C79A604DD9143 8D2B5E9F9BFA3E06DFF2D4874C706FF915E34C4D 2016 2019-02-21 02:37:17Z X LESLIE ROHN ONE WASHINGTON SQUARE SAN JOSE CA 951920183 89172024 0 X WWW.SJSU.EDU/TOWERFOUNDATION X 2004 CA ASSISTANCE TO ACADEMIC PROGRAMS & FACILITIES, STUDENT SCHOLARSHIPS, FACULTY, & ATHLETICS PROGRAMS 26 22 621 27 0 1325 40854387 21928334 3000213 2674732 5330679 7434272 931270 951765 50116549 32989103 3353495 7189553 0 0 5879933 6108928 0 0 0 13163286 18146477 22396714 31444958 27719835 1544145 191290140 202905479 1389021 1938379 189901119 200967100 THE TOWER FOUNDATION'S MISSION IS TO ENCOURAGE PHILANTHROPY AMONG SJSU ALUMNI AND FRIENDS BY PROVIDING HIGH QUALITY, RELIABLE, AND RESPONSIVE CHARITABLE GIVING SERVICES, DONOR STEWARDSHIP, AND ACCURATE ACCOUNTING FOR ALL GIFTS. 0 0 27897741 7189553 3666829 THE TOWER FOUNDATION OF SAN JOSE STATE UNIVERSITY IS ORGANIZED EXCLUSIVELY FOR EDUCATIONAL PURPOSES OF PROMOTING AND ADVANCING THE OBJECTIVES OF SAN JOSE STATE UNIVERSITY. PRIMARY PURPOSES INCLUDE PROVIDING ASSISTANCE TO ACADEMIC PROGRAMS, LIBRARIES, CLASSROOMS, LABORATORIES, STUDENT SCHOLARSHIPS, FACULTY FELLOWSHIPS AND PROFESSORSHIPS, FACULTY RESEARCH AND COMMUNITY PROJECTS, AND ATHLETICS PROGRAMS. 27897741 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 1 0 0 1 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 1 106 0 1 621 1 1 1 0 0 0 0 1 1 0 0 0 0 0 X 26 22 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X X LESLIE ROHN 4089241765 ONE WASHINGTON SQUARE SAN JOSE CA 951920183 X Amir Mashkoori UNTIL JUN'17 Director 0.50 X 0 0 0 Andy Feinstein UNTIL OCT'16 Ex Officio 0.50 40.00 X 0 246652 91791 Anthony Jackson UNTIL MAR'17 Director 0.50 X 0 0 0 Beth Von Till UNTIL OCT'16 Ex Officio 0.50 40.00 X 0 77688 38873 Charles Faas UNTIL OCT'16 Ex Officio 0.50 40.00 X 0 122944 47086 Charles W Davidson Director 0.50 X 0 0 0 Coleetta McElroy UNTIL JUN' 17 Ex Officio 0.50 40.00 X 0 116599 38704 Colleen B Wilcox Director 0.50 X 0 0 0 Constance B Moore Director 0.50 X 0 0 0 Dana C Ditmore Director 0.50 X 0 0 0 Dave Donahue Ex Officio 0.50 X 0 0 0 David Weng Director 0.50 X 0 0 0 Donald L Lucas Director 0.50 X 0 0 0 Edward Oates Chairman of the Board 0.50 X 0 0 0 ERIC KELLY DIRECTOR 0.50 X 0 0 0 Gary D Radine Director 0.50 40.00 X 0 27104 317 Gary J Sbona Director 0.50 X 0 0 0 Gene Bleymaier UNTIL OCT' 16 Ex Officio 0.50 40.00 X 230685 236316 79580 James Jimenez Director 0.50 X 0 0 0 Jeff Ricci Director 0.50 X 0 0 0 Jenny Ming Director 0.50 X 0 0 0 John W Baird Director 0.50 X 0 0 0 Joseph P Parisi Director 0.50 X 0 0 0 Leslie C Francis Director 0.50 X 0 0 0 Mary Papazian Ex Officio, PRESIDENT 0.50 40.00 X 0 203680 53725 Michael J Kaufman (UNTIL OCT' 16) Ex Officio 0.50 40.00 X 0 107739 54968 Michael Kimbarow UNTIL JUN' 17 Ex Officio 0.50 40.00 X 0 103202 46864 Paul Lanning CEO 40.00 X X 0 210914 74389 Peter V Ueberroth Director 0.50 X 0 0 0 Phillip R Boyce Director 0.50 X 0 0 0 Richard Conniff Director 0.50 X 0 0 0 Rod Diridon UNTIL AUG'18 Director 0.50 X 0 6296 0 Ronald M Filice UNTIL MAR'17 Director 0.50 X 0 0 0 Stefan Frazier Ex Officio 0.50 40.00 X 0 76762 42736 Stephen H Caplan Director 0.50 X 0 0 0 Wanda Hendrix Director 0.50 X 0 0 0 William E Barton Director 0.50 X 0 0 0 Leslie Rohn Secretary & COO 40.00 X 0 148974 51375 Judith Kass Director of Human Resource 40.00 X 108916 0 16581 Ronald Caragher UNTIL NOV' 16 Head coach, football 0.00 40.00 X 295837 315622 95340 635438 2000492 732329 3 0 1 0 Financial Administrative Support Service 3180 Newberry Drive Suite 200 San Jose CA 95118 Accounting 240000 Marts & Lundy 1200 Wall Street West Lyndhurst NJ 07071 Campaign Consulting 143589 ASPEN Leadership Group LLC PO Box 1212 Aspen CO 81612 Executive Search 109325 3 188989 728500 21010845 2297116 21928334 administration fee 611170 2674732 2674732 2674732 2549076 2549076 60613214 55728018 4885196 4885196 4885196 414571 188989 454903 -40332 -40332 other 611170 992097 992097 992097 32989103 3666829 0 7393940 7133601 7133601 55952 55952 298316 298316 3572816 2713172 859644 56400 28383 28017 1739608 1129022 610586 441788 382279 59509 98086 12834 85252 385030 385030 554524 554524 1148584 1104465 44119 58955 56731 2224 2896615 1947668 948947 125058 83966 41092 290482 265759 24723 847568 847568 8564835 8564835 14188 2595 11593 administration fee 2674732 2548547 126185 Dues & Subscriptions 317504 307512 9992 student support & incen 140996 140996 Taxes & Licenses 29320 17332 11988 31444958 27897741 3547217 0 31936573 23874991 28131456 27659515 7000 144714 3449032 2830869 210944 115451 96641876 109601542 29521488 33822525 756045 4147068 635726 708804 191290140 202905479 813774 1384815 575247 553564 1389021 1938379 X 8216333 7814028 79159669 86274842 102525117 106878230 189901119 200967100 191290140 202905479 X 1544145 10070642 -548806 X X 0 1 X 1 0 X 38660320 15521255 15291809 40854387 21928335 132256106 38660320 15521255 15291809 40854387 21928335 132256106 16535669 115720437 2473535 2776170 2526429 2490582 2549076 12815792 137710 34985 -40333 132362 145204260 17059759 0.79690 0.78700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 125627222 969552 16896637 553839 142939572 120043749 7852326 1778843 490009 125627222 117679105 1722517 1108824 466697 120043749 98282638 2878179 16867445 349157 117679105 73000242 16402733 9274418 394755 98282638 0.18010 0.74770 0.07220 0 0 0 IVA INTERNATIONAL FUND-I 12082517 F FPA CRESCENT FUND 21740008 F 33822525 funds held in trust liability - current 71455 funds held in trust liability - noncurrent 482109 553564 43152246 10070642 454901 10525543 32626703 362400 362400 32989103 32086265 1003707 1003707 31082558 362400 362400 31444958 Part XI, Line 2d - Other Adjustments: Fundraising Expenses 454,903. ROUNDING -2. Part XI, Line 4b - Other Adjustments: Misc Noncash Gifts 362,400. Part XII, Line 2d - Other Adjustments: Fundraising Expenses 454,903. Uncollectible Pledges 548,804. Part XII, Line 4b - Other Adjustments: Misc noncash gifts 362,400. Part V, Line 4: THE FOUNDATION RECEIVES DONATIONS RESTRICTED TO ENDOWMENT BY DONORS. SUCH DONATIONS ARE INVESTED IN ACCORDANCE WITH THE FOUNDATION'S INVESTMENT POLICY. THE ENDOWMENT PORTFOLIO IS COMPRISED OF A BLEND OF INVESTMENTS AND IS PROFESSIONALLY MANAGED. THE FINANCE AND INVESTMENT COMMITTEE OF THE BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE INVESTMENT PORTFOLIO, MONITORING PERFORMANCE OF THE INVESTMENTS AND APPROVING NEW FUND MANAGERS. part x, line 2: Although there was no formal footnote related to ASC 740 in the financial statement, management determined and its auditors confirmed that no ASC 740 liabilities existed at year end. CAYMAN ISLANDS 0 0 INVESTMENTS 764188 0 0 0 0 0 0 764188 0 764188 1 0 0 1 0 0 Tower Gala 174455 138650 35805 79124 151460 1600 48554 PRESIDENT'S CUP 125307 10000 115307 250 18043 12900 14716 8 303798 40339 263459 13528 38453 57138 1000 18136 603560 188989 414571 250 31571 130477 223314 2600 66690 454902 -40331 1 SAN JOSE STATE UNIVERSITY ONE WASHINGTON SQUARE SAN JOSE CA 95912 770414438 4993186 SCHOLARSHIPS AND REIMBURSED SALARIES AND BENEFITS CSU MONTEREY BAY 100 CAMPUS CENTER SEASIDE CA 93955 27200 SCHOLARSHIPS 2 SCHOLARSHIPS 35 55952 Part I, Line 2: THE TOWER FOUNDATION FUNDS SCHOLARSHIPS THAT ARE AWARDED TO STUDENTS OF SAN JOSE STATE UNIVERSITY (SJSU). THE SCHOLARSHIPS ARE DIRECTED BY SJSU'S FINANCIAL AID AND SCHOLARSHIP OFFICE AND ITS ATHLETICS DEPARTMENT, WHICH EVALUATE APPLICANTS TO ENSURE THEY MEET THE CRITERIA STIPULATED BY THE DONOR. THE AMOUNT OF SCHOLARSHIPS AWARDED BY SJSU'S FINANCIAL AID AND SCHOLARSHIP OFFICE AND FUNDED BY THE TOWER FOUNDATION WAS $4,469,005. ADDITIONALLY, THE TOWER FOUNDATION REIMBURSES SJSU FOR CERTAIN SALARIES AND BENEFITS PAID TO UNIVERSITY PERSONNEL. THE AMOUNT OF FUNDS GRANTED TO SJSU FOR THIS PURPOSE DURING THE FISCAL YEAR REPORTED ON THIS RETURN WAS $2,106,015. X X 1 1 0 0 0 0 0 0 0 0 0 Andy Feinstein UNTIL OCT'16 Ex Officio 0 246652 0 0 0 0 0 64551 0 27240 0 338443 0 0 Charles Faas UNTIL OCT'16 Ex Officio 0 122944 0 0 0 0 0 32654 0 14432 0 170030 0 0 Coleetta McElroy UNTIL JUN' 17 Ex Officio 0 116599 0 0 0 0 0 29855 0 8849 0 155303 0 0 Gene Bleymaier UNTIL OCT' 16 Ex Officio 117036 236316 113649 0 0 0 0 60999 0 18581 230685 315896 0 0 Mary Papazian Ex Officio, PRESIDENT 0 203680 0 0 0 0 0 41317 0 12408 0 257405 0 0 Michael J Kaufman (UNTIL OCT' 16) Ex Officio 0 107739 0 0 0 0 0 28726 0 26242 0 162707 0 0 Michael Kimbarow UNTIL JUN' 17 Ex Officio 0 103202 0 0 0 0 0 23935 0 22929 0 150066 0 0 Paul Lanning CEO 0 210914 0 0 0 0 0 54926 0 19463 0 285303 0 0 Leslie Rohn Secretary & COO 0 148974 0 0 0 0 0 39379 0 11996 0 200349 0 0 Ronald Caragher UNTIL NOV' 16 Head coach, football 280337 315622 10000 0 5500 0 0 70600 0 24740 295837 410962 0 0 Part I, Line 3: The organization's CEO is compensated by San Jose State University (SJSU), a related organization. SJSU establishes the compensation of the organization's CEO based on guidelines of the university and through the use of a compensation survey or study. SABRA DIRIDON SABRA DIRIDON IS THE DAUGHTER-IN-LAW OF THE BOARD DIRECTOR, ROD DIRIDON 113388 SABRA DIRIDON IS AN EMPLOYEE OF THE SAN JOSE STATE UNIVERSITY. HER COMPENSATION IS REIMBURSED BY TOWER FOUNDATION. 0 X 6 2135 Fair Market Value X 2440 Fair Market VAlue X 205 Fair Market Value X 1 4500 Fair Market Value X 42 1449716 stock market quotes X 2 485000 Fair Market VAlue X 12 991 Fair Market VAlue X Equipment 12 312352 Fair Market VAlue X auction items 95 18640 fair Market VAlue X INSTRUMENTS 5 17900 Fair Market VAlue X Gift Cert 44 3237 Fair Market VAlue 2 0 1 0 Form 990, Part VI, Section A, line 7a THE SAN JOSE STATE UNIVERSITY PRESIDENT WHO IS A BOARD DIRECTOR OF THE FOUNDATION HAS THE SOLE AUTHORITY TO APPOINT THE BOARD MEMBERS FOR THE FOUNDATION. Form 990, Part VI, Section B, line 11b THE TOWER FOUNDATION'S AUDIT COMMITTEE REVIEWS THE 990 FORM IN DETAIL WITH TOWER MANAGEMENT. THE 990 IS DISTRIBUTED TO THE FULL BOARD PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. MINUTES KEPT FOR THE AUDIT COMMITTEE AND BOARD OF DIRECTORS DOCUMENT THE PROCESS. Form 990, Part VI, Section B, line 12c THE CONFLICT OF INTEREST POLICY AND RELATED DISCLOSURE STATEMENT IS REVIEWED ON AN ANNUAL BASIS AT THE TOWER FOUNDATION AUDIT COMMITTEE MEETING IN NOVEMBER. THE COMMITTEE RECOMMENDS ANY CHANGE TO THE POLICY AND DISCLOSURE FORM. THIS POLICY AND THE DISCLOSURE FORM ARE THEN PRESENTED AT THE DECEMBER MEETING TO TOWER BOARD MEMBERS. ALL BOARD MEMBERS ARE REQUIRED TO COMPLETE THE DISCLOSURE FORM AND THE FORMS ARE COLLECTED BY TOWER MANAGEMENT. IF THERE ARE ANY DISCLOSED CONFLICTS, THEY ARE ADDRESSED AT THE SUBSEQUENT AUDIT COMMITTEE MEETING AND PRESENTED TO THE BOARD AS APPROPRIATE. Form 990, Part VI, Section B, line 15 THE ORGANIZATION'S CEO, OFFICERS AND KEY EMPLOYEES ARE GENERALLY COMPENSATED BY SAN JOSE STATE UNIVERSITY, A RELATED ORGANIZATION OF THE TOWER FOUNDATION. THEREFORE, THE TOWER FOUNDATION HAS NOT ESTABLISHED COMPENSATION POLICIES FOR THESE INDIVIDUALS. HOWEVER, SAN JOSE STATE UNIVERSITY DETERMINES COMPENSATION FOR THE TOWER FOUNDATION'S CEO, OFFICERS AND KEY EMPLOYEES BASED ON REVIEW AND APPROVAL BY INDEPENDENT PERSONS AND COMPARABILITY DATA. Form 990, Part VI, Section C, line 19 Audited financial statements and conflict of interest policy are available on the organization's website. Governing documents are available upon request. FORM 990, PART VII, SECTION A, LINE 1A, Column D: CSU policy requires that stipend payments by an auxiliary to a CSU employee be made through the auxiliary's payroll. Accordingly, some payments made to university employees on behalf of SJSU are reflected as compensation from the Tower Foundation on Form 990, PART VII, SECTION A, LINE 1A, Column D. Form 990, Part XI, line 9: Uncollected pledges -548,804. ROUNDING -2. form 990, part xii, line 2c: THE ORGANIZATION'S PROCESS FOR OVERSEEING THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM PRIOR YEARS. Form 990, AMENDED RETURN: The organization filed an amended 2016 Form 990 to correctly reflect the Schedule A, Excess Contributors which were inadvertently excluded from the calculation. The public support percentage from the prior year (2015) was also updated. Schedule R, Part I was updated to correctly reflect the change of Hilo Project LLC from partnership to a disregarded entity during the tax year. The following areas of the Form 990 were updated: -Schedule A, Part II, Line 5 -Schedule A, Part II, Line 14 -Schedule A, Part II, Line 15 -Schedule R, Part I -Schedule R, Part III SJSU TOWER REAL ESTATE FUND LLC ONE WASHINGTON SQUARE CLARK HALL SAN JOSE CA 95192 999999999 REAL ESTATE MANAGEMENT CA 0 0 THE TOWER FOUNDATION OF SAN JOSE STATE UNIVERSITY HILO PROJECT LLC 1346 THE ALAMEDA STE 7 PMB 269 SAN JOSE CA 95126 263694655 HOUSING INVESTMENT HI -2476 2046457 THE TOWER FOUNDATION OF SAN JOSE STATE UNIVERSITY San Jose State University One Washington Square San Jose CA 95192 770414438 State university CA 115 N/A 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 1 San Jose State University B 6575020 FMV San Jose State University P 8951961 FMV San Jose State University Q 137727 FMV San Jose State University R 127147 FMV San Jose State University S 728500 FMV