2013-05-13T15:50:54-05:00 2012-06-30 GRANT THORNTON LLP 666 THIRD AVENUE NEW YORK NY 100174057 990 2011-07-01 221487354 STEVENS INSTITUTE OF TECHNOLOGY % RANDY GREENE STEV 2012168761 CASTLE POINT ON HUDSON HOBOKEN NJ 07030 Randly L Greene 2013-05-13 2125990100 2011 2016-02-24 21:20:13Z Nariman Farvardin CASTLE POINT ON HUDSON HOBOKEN NJ 07030 300534329 false X WWW.STEVENS.EDU X 1870 NJ THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE EDUCATIONAL SERVICES TO INDIVIDUALS IN PURSUIT OF AN UNDERGRADUATE, MASTERS AND/OR DOCTORATE DEGREE, AND TO conduct research. 26 18 3082 350 113444 -29288 8164727 11295493 199260504 208906156 5749725 3559052 2287401 2656009 215462357 226416710 40484009 42668734 0 0 101374821 105046962 0 0 2870121 71493490 73489721 213352320 221205417 2110037 5211293 308683840 307906023 134031821 130570130 174652019 177335893 X STEVENS INSTITUTE OF TECHNOLOGY WAS FOUNDED IN 1870. THE INSTITUTE IS A NON-PROFIT RESEARCH UNIVERSITY OFFERING MORE THAN 30 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 MASTER'S AND PHD DEGREES. ACADEMIC RESEARCH IS CARRIED OUT AT EVERY LEVEL OF THE INSTITUTE. THE MISSION OF THE INSTITUTE 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 false false 146824765 42668734 152321264 educational instruction: in the academic year 2011-2012, stevens' enrollment was 2,546 undergraduate students and 3,828 graduate students. 472 students graduated with bachelor of engineering, science or arts degrees, and 1,192 students received master's in Engineering, science, business administration or arts, and 47 Ph.D. 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. 19793814 0 22227079 STUDENT LIFE: STEVENS INSTITUTE 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 120 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 INSTITUTE'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. 27708172 0 34357813 RESEARCH: THE RESEARCH ENTERPRISE INCLUDES ACADEMIC RESEARCH, NATIONAL RESEARCH CENTERS, AND CROSS-DISCIPLINARY RESEARCH INITIATIVES, WITH affiliated ORGANIZATIONS AND INFRASTRUCTURE. CREATIVE AND ENTREPRENEURIAL 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. THE FUNDAMENTAL PRINCIPLES GOVERNING THE RESEARCH ENVIRONMENT ARE INNOVATION, CREATIVITY AND ENTREPRENEURSHIP. 194326751 true true false true false false false true false true true true false false true true true false true true true false true false true false false false true true true false false false false false false false true false true true false false false false true true false false false true 458 0 true 3082 true true true true DR false false false true true false false false false X 26 18 false false false false false false false true true false false true true true true true true true true false X X RANDY GREENE 2012168761 ONE CASTLE POINT ON HUDSON HOBOKEN NJ 07030 Lawrence T Babbio Jr 1.0 X X 0 0 Anthony Barrese 1.0 X 176767 17027 Stephen T Boswell 1.0 X X 0 0 Thomas A Corcoran 1.0 X X 0 0 Philip P Crowley 1.0 X 0 0 Martin C Fliesler 1.0 X 0 0 John Sean J Hanlon IV 1.0 X 0 0 Mark LaRosa 1.0 X 0 0 Richard S Magee 1.0 X 35344 0 Victoria O'Connor 1.0 X 0 0 Hillary Paul 1.0 X 0 0 Spyros Polemis 1.0 X 0 0 Richard R Roscitt 1.0 X X 0 0 Virginia P Ruesterholz 1.0 X X 0 0 RONALD E SALLUZZO 1.0 X 0 0 John A Schepisi 1.0 X X 0 0 frank j semcer sr 1.0 X 0 0 Steven Shulman 1.0 X X 0 0 Richard F Spanier 1.0 X 0 0 James M Walsh 1.0 X 0 0 Joseph J Garvey 1.0 X 3500 0 Larry B Giannechini 1.0 X 1104 0 Matthew R Libera 1.0 X 223369 27970 Lisa M Mascolo 1.0 X 0 0 Sandeep mathrani 1.0 X 0 0 Thomas H Scholl 1.0 X 0 0 Kendra L Appleheimer 1.0 X 0 0 Randy L Greene 60.0 X 464882 28168 Mary Wheeler 60.0 X 193329 28683 Kathy Schulz 60.0 X 298892 22525 Diana Colombo 60.0 X 80386 19869 Nariman Farvardin 60.0 X 317556 22525 Elizabeth Sheldon 60.0 X 47901 4050 Gregory Prastacos 60.0 X 0 0 George P Korfiatis 60.0 X 669637 0 39092 Henry P Dobbelaar Jr 60.0 X 264655 0 22506 Maureen P Weatherall 60.0 X 438776 35558 Michael S Bruno 60.0 X 368574 33205 Lisa Dolling 60.0 X 175939 14346 Charles T koeller 60.0 X 211598 25994 Dinesh Verma 60.0 X 498975 34338 Mark Samolewicz 60.0 X 154678 26299 Malcolm Kahn 60.0 X 247849 26719 Constantin Chassapis 60.0 X 308681 36788 Ralph G Giffin III 60.0 X 311247 16285 Souran Manoochehri 60.0 X 293089 31238 Alan F Blumberg 60.0 X 267585 25574 Donald M Merino 60.0 X 292146 15158 Harold J Raveche 63010 X 526138 0 6872597 0 553917 227 true true false SODEXo OPERATIONS PO Box 360170 PITTSBURGH PA 152516170 FOOD SRVC MANAGEMENT 8050390 gca service group po box 643823 PITTSBURGH PA 15264 MAINTENANCE 1635509 Hewlett Packard Financial PO Box 402582 ATLANTA GA 30384 FINANCIAL 907562 Donnelly Construction 557 Route 23 South WAYNE NJ 07470 construction 3565631 The RSmart Group Inc 1375 N Scottsdale Road SCOTTSDALE AZ 85257 consulting 878633 84 76367 11219126 538730 11295493 TUITION & FEES 611600 152321264 152321264 RESEARCH REVENUES 541700 34357813 34357813 ROOM AND BOARD 611710 14264582 14264582 STUDENT DINING 611710 7962497 7962497 208906156 1540189 -21812 1562001 0 0 356761 0 356761 356761 57915 298846 74942543 72923680 2018863 2018863 2018863 34872 76367 35373 -501 -501 0 1451913 1158566 293347 4006 289341 TECHNICAL LEADERSHIP INSTITUTE 611710 131722 131722 DINING SERVICES 722210 165343 165343 ACQUATICS/REC CENTER FEES 713940 249717 73335 176382 1459620 1459620 2006402 226416710 209037878 113444 5969895 0 42668734 42668734 0 0 0 9148877 5546964 3164597 437316 0 79291688 70728017 7466725 1096946 3274120 2798400 390045 85675 8479039 7247059 1010106 221874 4853238 4148076 578165 126997 0 732792 313366 419426 683223 683223 210500 210500 0 2123585 2123585 8436337 4512004 3810121 114212 778911 447157 331754 6727474 5432698 761221 533555 1679555 1404536 211578 63441 0 9464041 9411455 45828 6758 2465710 2191723 132556 141431 0 122650 83042 38208 1400 4048587 3898927 149660 0 8232987 7546832 686155 979127 881214 97913 REPAIRS & MAINTENANCE 6875416 5956833 918583 RESEARCH CONTRACTS 16022013 16022013 EQUIPMENT RENTAL 1146842 923454 214784 8604 LABORATORY SUPPLIES 2148788 2144947 3841 611183 19300 559971 31912 221205417 194326751 24008545 2870121 43950 54585 20248554 17963668 4082187 8309162 26016278 26324728 594081 0 0 0 0 0 296938 302624 876426 1447855 240109217 112205608 130393084 127903609 64693344 65806447 53279701 52688229 0 0 0 0 8159297 7105116 308683840 307906023 15063549 13309069 0 0 7039528 6212618 78542758 77988160 0 0 0 0 15033792 12760415 0 0 18352194 20299868 134031821 130570130 X 22562878 22779457 44458950 44641385 107630191 109915051 174652019 177335893 308683840 307906023 X 5211293 -2527419 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 210500 false false 210500 false Schedule C, Part II-B, Line g THE STEVENS INSTITUTE OF TECHNOLOGY DOES NOT DIRECTLY ENGAGE IN ANY LOBBYING ACTIVITIES; THE INSTITUTE HIRED VARIOUS OUTSIDE CONSULTANTS TO UNDERTAKE LOBBYING ACTIVITIES ON ITS BEHALF. 316405 X X X false false 144100616 2197390 1391552 6272559 141416999 134214252 335365 14682338 5131339 144100616 129122256 742425 8926018 4576447 134214252 155485695 788435 -24764095 2387779 129122256 0.06000 0.94000 true false 1763196 1763196 209273837 96158664 113115174 26346553 16046944 10299608 2725631 2725631 127903609 ALTERNATIVE INVESTMENTS 24599528 F TRUSTS HELD BY OTHERS 3130891 F SPLIT INTEREST AGREEMENTS 3362423 F OTHER 243152 F PRIVATE EQUITY 21352235 F 52688229 0 ACCRUED POSTRETIREMENT BENEFIT 6756337 ANNUITIES PAYABLE 2040117 CONDITIONAL ASSET RETIREMENT 6372358 REFUNDABLE ADVANCES 5131056 20299868 226416710 221205417 5211293 -170176 -2357243 -2527419 2683874 182208878 -170176 -170176 182379054 2123585 41914071 44037656 226416710 177167761 754663 754663 176413098 2123585 42668734 44792319 221205417 COLLECTIONS OF ART, HISTORICAL TREASURES, OR OTHER SIMILAR ASSETS FORM 990, SCHEDULE D, PART III LINE 4 - Various pieces of art that have been donated are on Public Display for the enrichment and enjoyment of visitors, faculty, staff and students. ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V LINE 4 - the Institute'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 Institute. INCOME TAXES FORM 990, SCHEDULE D, PART X The Institute adopted ASC 740-10 as of July 1, 2007. ASC 740-10 clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This section provides that the tax effects from an uncertain tax position can be recognized in the financial statements only if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The Institute 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 Institute believes there are no uncertain tax positions. Therefore, the adoption of ASC 740-10 did not have any impact on the Institute's financial statements. RECONCILIATION OF CHANGE IN NET ASSETS FORM 990, SCHEDULE D, PART XI, LINE 8 Post-retirement benefit changes other than periodic costs $(2,467,455) Change in value of split interest agreements 124,432 Allowance for uncollectible contributions (14,220) ----------- Total $(2,357,243) =========== OTHER REVENUE INCLUDED ON RETURN BUT NOT ON BOOKS FORM 990, SCHEDULE D, PART XII, LINE 4b SCHOLARSHIPS NET ON Financial statements reclassed to expenses (Part IX, Line 2) $42,668,734 Book store costs of goods sold, net of interdepartment sales, included in expenses on financial statements $(754,663) ----------- Total $41,914,071 =========== OTHER EXPENSES INCLUDED ON RETURN BUT NOT ON BOOKS FORM 990, SCHEDULE D, PART XIII, LINE 2d Book store costs of goods sold, net of interdepartment sales, included in expenses on financial statements $(754,663) ========= FORM 990, SCHEDULE D, PART XIII, LINE 4b SCHOLARSHIPS NETTED AGAINST REVENUE ON Financial statements reclassed to expenses (Part IX, Line 2) $42,668,734 =========== true true true true true true true false false false false false false false false true false true Part I, Line 3 The Stevens Institute of Technology nondiscriminatory policy is distributed annually as well as printed in student materials and on its website. Part I, Line 6a Stevens Institute of Technology receives funding from various governmental sources including, but not limited to, Pell, Academic competitiveness grant, National Smart, Perkins, and FSEOG. true Central America and the Caribbean 1 2 Program Services GRADUATE EDUCATION 132149 East Asia and the Pacific 0 0 Program Services Continuing education 323859 South Asia 0 1 Program Services academic recruiting 10000 Central America and the Caribbean 0 0 Investments 30743165 1 3 1 3 31209173 31209173 true false true true true false Form 990, Schedule F, Part IV, Lines 1, 4 & 5 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. Nevertheless, Stevens Institute of Technology's investment in these partnerships may not have reached the thresholds required for filing the Forms 926, 8621 or 8865. golf outing 96604 68104 28500 26063 1310 wine tasting 14635 8263 6372 8000 0 111239 76367 34872 34063 1310 35373 -501 true SCHOLARSHIPS AND GRANTS 2701 42668734 GRANTS AND OTHER ASSISTANCE IN THE U.S. FORM 990, SCHEDULE I, PART I, LINE 2 Scholarships and grants are awarded as financial assistance to students attending the Stevens Institute of Technology. The distribution and application of the 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. Administration of financial assistance is monitored on an on-going basis through a review of bi-weekly system-generated reports. X X X X true true X X X X X true true false false false false false true false Anthony Barrese 176767 0 0 17027 0 193794 Matthew R Libera 223369 0 0 13232 14738 251339 Randy L Greene 464882 0 0 23275 4893 493050 Mary Wheeler 188329 5000 0 17528 11155 222012 Kathy Schulz 298892 0 0 19600 2925 321417 Nariman Farvardin 317556 0 0 19600 2925 340081 George P Korfiatis 505717 0 150000 0 13920 0 22050 0 17042 0 708729 0 Henry P Dobbelaar Jr 264655 0 0 0 0 0 22506 0 0 0 287161 0 Maureen P Weatherall 388776 50000 0 22050 13508 474334 Michael S Bruno 368574 0 0 22050 11155 401779 Lisa Dolling 175939 0 0 14346 0 190285 Charles T koeller 211598 0 0 21420 4574 237592 Dinesh Verma 498975 0 0 19600 14738 533313 Mark Samolewicz 154678 0 0 14546 11753 180977 Constantin Chassapis 305181 3500 22050 14738 345469 Ralph G Giffin III 311247 0 16285 0 327532 Souran Manoochehri 293089 0 0 16538 14700 324327 Alan F Blumberg 265585 2000 0 20299 5275 293159 Donald M Merino 292146 0 0 15158 0 307304 Harold J Raveche 63010 0 0 526138 0 0 526138 0 Malcolm Kahn 247849 0 0 18375 8344 274568 COMPENSATION INFORMATION FORM 990, SCHEDULE J, PART I LINE 1 - The Stevens Institute of Technology guidelines regarding first class/business class travel and spousal travel are included in the Stevens Business and Travel Expense Policy. Campus housing is provided for the University President and is used for program and development purposes. 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. Schedule J, Part I, Line 7 incentive compensation the stevens incentive compensation plan provides a mechanism to reward faculty, administrative leaders, and key staff for extraordinary performance over a period of one academic year. 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 extra ordinary 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 this plan. incentive compensation for faculty, staff and administration 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 and compensation committee of the board of trustees and approved by the full board of trustees as part of its consideration of this group (and as further described in schedule O). each year, the board of trustees will approve a set of annual incentive performances metrics (performance measures) for the executive leaders and will review with the president the process for determining the metrics for each other group or sub-group of employees. the metrics must be defined by the institutional performance metrics and the institutional core and strategic objectives. Schedule J, Part II Compensation of Former President: Dr. Ravech served 22 years as Stevens' President, ending on June 30, 2010. All of the elements of his compensation reported in the 2011 IRS Form 990 relate to long-standing contractual obligations. His calendar year 2011 contracted compensation consisted of: severance, consulting payments and other contractual benefits. As part of the retirement arrangements, Dr. Ravech repaid the university on 10/31/2011 in full for all outstanding loans previously made to him. The compensation amounts for Dr. Raveche reported on 2011 IRS Form 990 consist of the following: 320,000 CONTRACTUAL SEVERANCE 197,697 CONSULTING PAYMENTS 8,441 OTHER MISCELLANEOUS PAYMENTS ----------- $526,138 TOTAL COMPENSATION AS REPORTED ON 2011 FORM 990 =========== NJ EDU FAC AUTH STEVENS ISSUE 2007 221829511 646065lp5 2007-08-02 71633268 REFUNDING OF PRIOR ISSUES false false false NJ EDU FAC AUTH CAPITAL IMP 2005 A 221829511 60605LWWX 2005-08-10 792706 REFUNDING OF PRIOR ISSUES false false false NJ EDU FAC AUTH CAPITAL IMP 2006 a 221829511 64605LZ43 2006-10-26 133640 REFUNDING OF PRIOR ISSUES false false false NJ EDU FAC AUTH DORM SAFETY 2003 A 221829511 64605NBU7 2004-01-15 244207 FINANCE DORM SAFETY IMPROVEMENT false false false 0 0 85725356 5782758 0 66517119 1535969 0 0 0 0 0 2009 false true true true 0 0 0 0 0 0 0 0 0 0 0 0 false false true true 0 0 0 0 0 0 0 0 0 0 0 0 false false true true 138500 0 0 0 0 0 0 0 0 0 0 0 false false true true false false false false 0.00000 0.00000 0.00000 true false false false false 0 true false false false false 0 true false false false false 0 true false false false 0 false 0 false false false false false 0 false 0 false false false false false 0 false 0 false false false false false 0 false 0 false false 0 Lawrence T Babbio Jr Chairman of the Board 1607954 See Schedule L, Part V false Virginia P Ruesterholz V. Chairman of the board 451431 See Schedule L, Part V false Ronald E Salluzzo Board Trustee 223828 See Schedule L, Part V false Schedule L, Part IV Lines 1, 2, and 3 Chairman of the Board, Lawrence Babbio, also sits on the Board of Directors of Hewlett-Packard Company. The Institute conducts business with Hewlett Packard Company and with Hewlett Packard Financial Services (total fees of $1,607,954). Board of Trustees Member, Virginia Ruesterholz, is the President of Verizon Services Operation. The Institute conducts business with Verizon Wireless, Verizon Select Services, and various other Verizon companies (total fees of $451,431). Board of Trustees member, Ronald E. Salluzzo, is a partner at Attain, LLC. The University conducts business with attainn, llc (total fees of $223,828). X 28 390661 FMV X MISC. EQUIPMENT 20 148069 FMV false true true NONCASH CONTRIBUTIONS FORM 990, SCHEDULE M, PART I Line 9 - To the extent that the Institute receives contributions of securities, the Institute's investment brokerage bank is tasked with selling those securities. Line 32 - the Institute uses various galleries to facilitate the sale of art. No art was sold in Fiscal Year 2012. FORM 990, PART VI, LINE 11B this form 990 was prepared by members of the finance and legal offices of the institution together with its outside tax and accounting firm specializing in higher education. the form 990 was then presented to the audit committee of the board of trustees for review and approval. following this process and any modifications recommended by the audit committee, the form 990 was presented to a meeting of the full board of trustees of the institution and approved in accordance with the by-laws of the institution and approved in accordance with the By-Laws of the institution. Form 990, Part VI, Line 12C the institution's conflict of interest policy requires ongoing compliance and self-reporting of conflicts. it also provides for completion of an annual questionnaire by all trustees, officers and faculty, which questionnaire is reviewed by the office of compliance and internal audit and the general counsel and reported to the audit committee of the board and to the board of trustees. information disclosed in the questionnaires which indicates the possible presence of a conflict is investigated, discussed with relevant personnel and, if necessary, the conflict is eliminated or managed pursuant to a conflict management plan or device supervised by the chair of the board of trustees or the chair 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 institution and staff at other levels of the institution as they arise from time to time and are referred to office of audit, risk and compliance and the general counsel for further analysis and resolution. certain conflicts relating solely to research activities may be managed by the director of the office sponsored programs, with advice from the office of audit, risk and compliance and the general counsel. Form 990, Part VI, Line 15B the total compensation of the persons occupying the following positions and any recommended adjustments were reviewed by the human resources and compensation committee of the board of trustees, in the fall of 2011, based on recommendations from the president (except with respect to the president himself), together with comparative data from peer institutions collected and analyzed by an independent compensation consultant to the institution, and then proposed by such committee to the full board of trustees for approval: president provost and university vice president (interim president) deans vice president for facilities and community affairs chief administrative officer chief financial officer and treasurer vice president for development vice president for enterprise development vice president for the research enterprise vice president, gerenal counsel and secretary vice president for human resources assistant secretary grants and contracts specialist (related) associate provost for graduate enterprise and professor deputy dean and department director (engineering) faculty trustee, associate dean and chief of staff (systems) the secretary of the board of trustees took contemporaneous minutes of the meetings at which these decisions were made by the human resources and compensation committee and the board of trustees. Form 990, Part VI, Line 19 The Governing documents of the institution together with charters for committees of the board of trustees, the conflict of interest policy and the financial statements of the institution are all made available on the institutions website (www.stevens.edu). in addition, a variety of other documents and materials regarding the institution and its operations, as well as the other policies of the institution, are available on the website. Form 990, Part XI, Line 5 Other changes in net assets or fund balances Net unrealized gains (losses) on investments $(170,176) Post-retirement benefit changes other than periodic costs (2,467,455) Change in value of split interest agreements 124,432 Allowance for uncollectible contributions (14,220) ----------- Total $(2,527,419) =========== Schedule K, Part I Supplemental Information 1. Bond Issue A - Column (F): This issue advance refunded all of the outstanding principal amount of the revenue bonds, Stevens Institute of Technology issue, 2004 Series B issued on July 1, 2004 by the New Jersey Educational Facilities Authority ("NJEFA"), all of the revenue bonds, 2002 Series C issued by NJEFA on December 1, 2002 and a portion of the revenue bonds, Stevens Institute of Technology issue, 1998 Series I issued by NJEFA on August 25, 1998. The refunded bonds financed capital improvements for the Institute. 2. Bond Issue B - Columns (E) and (F): These bonds were issued in the par amount of $15,077,352 to refund a portion of the NJEFA Capital Improvement Fund (CIF) Issues, Series 2000 A, Series 2000 B and Series 2002 A. CIF Bonds were issued pursuant to a legislative program to finance capital improvements for New Jersey colleges and universities. Eleven colleges received grants from the 2000 A, 2000 B, and 2002 A bonds. Stevens received grants only from the 2000 A and 2000 B bonds. The refunded bonds and the series 2005 A refunding bonds (bond issue B) are repayable in part by state appropriations. The issue price shown on Schedule K for the Series 2005 A Bonds is the approximate amount of the issue price allocable to the Institute. 3. Bond Issue C - Columns (E) and (F): These bonds were issued in the par amount of $155,460,000 to refund a portion of NJEFA's capital improvement fund issues, Series 2000 A, Series 2000 B, Series 2002 A, and Series 2004 A. The 2000 A, 2000 B, 2002 A, and 2004 A bonds were issued on July 1, 2000, December 30, 2000, November 21, 2002 and March 14, 2004 respectively. At least eleven colleges received grants from these bonds. Stevens received grants only from 2000 A and 2000 B. The refunded bonds and the series 2006 A refunding bonds (Bond Issue C) are repayable in part by state appropriations. The issue price shown on the Schedule K for the refunding 2006 A Bonds is the approximate amount of the issue price allocable to the Institute. 4. Bond Issue D - Columns (E) and (F): These bonds were issued pursuant to a legislatively created state-backed program to finance safety improvements for dormitory facilities. The bonds are repayable in part by state appropriations. Proceeds of Bond Issue D were issued as a single issue of $5,440,000 which was lent in varying amounts to 12 of the private colleges located in New Jersey. The Institute received a loan of $243,500. The issue price shown on Schedule K is the approximate amount of the $5,523,846.05 issue price for the entire bond issue which is allocable to the loan made to the Institute. Schedule K, Part II Supplemental Information 1. Bond Issue A - As described above, these bonds advance refunded three prior issues. The $85,725,356.30 shown on Line 1 is the total of the par amount, the original issue discount, the amount held in escrow funds for the refunded bonds applied to the refunding and gross earnings of $8,747,827.89 on all funds as reported in the interim rebate report for these bonds as of June 30, 2011 (the "rebate report"). The $5,782,757.88 is the amount reported as the balance remaining in the debt reserve fund in the rebate report. The original deposit was $5,772,781.26. The $66,517,119.10 in Line 3 is the total balance remaining in the escrow funds for the refunded bonds reported in the rebate report. The issuance costs in Line 5 includes underwriters' discount. 2. Bond Issues B, C, & D - As described in the supplemental information to Part I, these three bond issues were issued by the New Jersey Educational Facilities Authority under state legislative programs intended to provide financial assistance to a large number of colleges and universities in New Jersey. Stevens Institute received grants under these programs but was only 1 of 11 or 12 institutions that received money from each issue. Each of these issues were sold on the credit of the State of New Jersey which pays debt service from state appropriations. The Institute is reporting the amounts it received but does not have the complete information that the Authority, as issuer, has. RAVENSWOOD CORPORATION ONE CASTLE POINT ON HUDSON HOBOKEN NJ 07030 221854071 real estate NJ stevens inst C CORP 356761 1933908 1.00000 CASTLE POINT HOLDINGS INC ONE CASTLE POINT ON HUDSON HOBOKEN NJ 07030 204264786 tech transfer NJ stevens inst C CORP 598341 1.00000 false false false true true false false false false false true false false false false false false false RAVENSWOOD CORPORATION e, k 86899 FMV CASTLE POINT HOLDINGS inc d, k 44562 FMV