The Tower Foundation Of San Jose State University
- Assets
- $263.9m
- Revenue
- $46.4m
- Investments
- $26.8m
- Employees
- 135
- Location
- San Jose, CA
- Founding
- 03/2005
- Data as of
- 06/2021
- EIN
- 83-0403915
Organization Overview
The Tower Foundation Of San Jose State University is located in San Jose, CA. The organization was established in 2005. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Tower Foundation Of San Jose State University employed 135 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tower Foundation Of San Jose State University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Tower Foundation Of San Jose State University generated $46.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $23.1m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Tower Foundation Of San Jose State University has awarded 21 individual grants totaling $38,568,059. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ASSISTANCE TO ACADEMIC PROGRAMS & FACILITIES, STUDENT SCHOLARSHIPS, FACULTY, & ATHLETICS PROGRAMS
Describe the Organization's Program Activity:
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Brennan Head Coach, Football | 1 | $1,275,638 | |
Timothy Miles Head Coach, Men's Basketball | 1 | $272,762 | |
Daniele Lecesne Coo/secretary | Officer | 40 | $0 |
Alison Mckee Academic Senate Chair | Trustee | 0.5 | $0 |
Virginia Lehmkul Dakhwe Staff/faculty Rep | Trustee | 0.5 | $0 |
Marie Tuite Athletics Director (until 8/26/21) | 5 | $156,290 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hopkins & Carley Legal Services | 6/29/22 | $135,229 |
Rsm Us Llp Assurance Services | 6/29/22 | $109,938 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,088,607 |
| Investment income | $2,529,779 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,612,661 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,353,106 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $21,671 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,666,580 |
| Pension plan accruals and contributions | $64,283 |
| Other employee benefits | $1,674,033 |
| Payroll taxes | $330,979 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $288,938 |
| Fees for services: Accounting | $374,878 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $738,578 |
| Fees for services: Other | $678,002 |
| Advertising and promotion | $10,434 |
| Office expenses | $941,329 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,490 |
| Travel | $47,296 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $118,137 |
| Interest | $0 |
| Payments to affiliates | $2,875,071 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,355 |
| All other expenses | $0 |
| Total functional expenses | $23,148,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $30,630,407 |
| Pledges and grants receivable | $19,843,289 |
| Accounts receivable, net | $125,353 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $42,490 |
| Investments—publicly traded securities | $173,946,574 |
| Investments—other securities | $26,807,187 |
| Investments—program-related | $11,290,384 |
| Intangible assets | $0 |
| Other assets | $1,236,047 |
| Total assets | $263,921,731 |
| Accounts payable and accrued expenses | $536,088 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,704,084 |
| Total liabilities | $4,240,172 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $259,681,559 |
| Total liabilities and net assets/fund balances | $259,681,559 |
Grants Awarded
Over the last fiscal year, The Tower Foundation Of San Jose State University has awarded $4,158,453 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SAN JOSE STATE UNIVERSITY PURPOSE: SCHOLARSHIPS/AWARDS | $4,146,853 |
CSU MONTEREY BAY PURPOSE: SCHOLARSHIPS | $11,600 |