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Nonprofiteer
← THE TRUSTEES OF THE STEVENS INSTITUTE OF TECHNOLOGY

Form 990 for tax year 2023

Filed by THE TRUSTEES OF THE STEVENS INSTITUTE OF TECHNOLOGY.

Totals

Total revenue
$536,669,795
Total expenses
$509,502,464
Contributions and grants received
$23,047,335
Grants paid
$129,554,579
Program service revenue
$482,134,852
Investment income
$17,920,798
Other revenue
$13,566,810
Total assets, end of year
$1,056,523,320
Total liabilities, end of year
$420,497,769
Net assets or fund balances, end of year
$636,025,551
Program services expenses (Part IX)
$465,039,613
Management and general expenses
$37,832,134
Fundraising expenses
$6,630,717
Program service expenses (Part III)
$465,039,613

Program services were 91.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $60,138

  • 1e · Government grants (contributions)

    $3,241,637

  • 1f · All other contributions, gifts and grants

    $19,745,560

  • 1g · Noncash contributions included above

    $3,081,057

  • 2a · Program service revenue: TUITION AND FEES

    total $378,864,292 · related or exempt $378,864,292

  • 2b · Program service revenue: RESEARCH REVENUE

    total $64,439,209 · related or exempt $64,439,209

  • 2c · Program service revenue: STUDENT HOUSING

    total $25,391,066 · related or exempt $25,391,066

  • 2d · Program service revenue: STUDENT DINING

    total $13,088,583 · related or exempt $13,088,583

  • 2e · Program service revenue: TECHNICAL LEADERSHIP

    total $351,702 · related or exempt $351,702

  • 3 · Investment income

    total $13,321,501 · unrelated business $52,497 · excluded $13,269,004

  • 6a · Gross rents

    real property $56,151

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $56,151

  • 6d · Net rental income or loss

    total $56,151 · excluded $56,151

  • 7a · Gross sales of assets other than inventory

    securities $101,290,583 · other assets $4,599,297

  • 7b · Less cost or other basis and sales expenses

    securities $96,741,355 · other assets $4,549,228

  • 7c · Gain or loss

    securities $4,549,228 · other assets $50,069

  • 7d · Net gain or loss

    total $4,599,297 · excluded $4,599,297

  • 8a · Fundraising events: gross income

    $60,252

  • 8a · Fundraising events: contributions included on line 1c

    $60,138

  • 8b · Fundraising events: direct expenses

    $80,102

  • 8c · Net income from fundraising events

    total -$19,850 · excluded -$19,850

  • 11a · Other revenue: STUDENT HEALTH INS

    total $7,156,720 · related or exempt $7,156,720

  • 11b · Other revenue: COMMISION ON DINING

    total $895,513 · related or exempt $895,513

  • 11c · Other revenue: STUDENT CLUBS, SPORTS

    total $512,118 · related or exempt $512,118

  • 11d · All other revenue

    total $4,966,158 · related or exempt $2,387,899 · unrelated business $139,514 · excluded $2,438,745

  • 11e · Other revenue, total

    $13,530,509

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $129,554,579 · program services $129,554,579

  • 5 · Compensation of officers, directors and key employees

    total $8,712,333 · program services $3,479,697 · management and general $4,816,073 · fundraising $416,563

  • 7 · Other salaries and wages

    total $164,012,355 · program services $148,349,575 · management and general $12,032,344 · fundraising $3,630,436

  • 8 · Pension plan contributions

    total $9,083,800 · program services $7,984,884 · management and general $886,079 · fundraising $212,837

  • 9 · Other employee benefits

    total $20,732,016 · program services $18,223,955 · management and general $2,022,303 · fundraising $485,758

  • 10 · Payroll taxes

    total $9,821,932 · program services $8,633,721 · management and general $958,080 · fundraising $230,131

  • 11b · Fees: legal

    total $1,457,627 · program services $990,500 · management and general $457,257 · fundraising $9,870

  • 11c · Fees: accounting

    total $657,267 · management and general $657,267

  • 11d · Fees: lobbying

    total $252,933 · management and general $252,933

  • 11e · Fees: professional fundraising services

    total $284,739 · fundraising $284,739

  • 11f · Fees: investment management

    total $2,273,057 · program services $2,273,057

  • 11g · Fees: other

    total $38,183,929 · program services $30,941,819 · management and general $6,780,879 · fundraising $461,231

  • 12 · Advertising and promotion

    total $8,658,298 · program services $7,748,653 · management and general $908,334 · fundraising $1,311

  • 13 · Office expenses

    total $2,883,727 · program services $1,867,139 · management and general $768,822 · fundraising $247,766

  • 14 · Information technology

    total $9,845,916 · program services $8,881,673 · management and general $918,184 · fundraising $46,059

  • 16 · Occupancy

    total $3,397,427 · program services $2,796,272 · management and general $580,610 · fundraising $20,545

  • 17 · Travel

    total $5,547,563 · program services $5,291,272 · management and general $190,777 · fundraising $65,514

  • 19 · Conferences, conventions and meetings

    total $1,190,339 · program services $918,511 · management and general $263,113 · fundraising $8,715

  • 20 · Interest

    total $12,150,943 · program services $11,747,287 · management and general $403,656

  • 22 · Depreciation, depletion and amortization

    total $25,903,242 · program services $25,042,732 · management and general $860,510

  • 23 · Insurance

    total $2,494,206 · program services $5,391 · management and general $2,488,800 · fundraising $15

  • 24a · Other expenses: RESEARCH CONTRACTS

    total $22,801,107 · program services $22,800,770 · management and general $337

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $10,403,398 · program services $10,387,452 · management and general $0 · fundraising $15,946

  • 24c · Other expenses: MATERIALS AND SUPPLIES

    total $5,135,957 · program services $4,952,878 · management and general $111,218 · fundraising $71,861

  • 24d · Other expenses: HOSPITALITY

    total $4,918,592 · program services $4,215,061 · management and general $331,920 · fundraising $371,611

  • 24e · All other expenses

    total $9,145,182 · program services $7,952,735 · management and general $1,142,638 · fundraising $49,809

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,811,697 · end of year $962,871

  • 2 · Savings and temporary cash investments

    beginning of year $71,042,205 · end of year $60,074,297

  • 3 · Pledges and grants receivable

    beginning of year $8,558,206 · end of year $8,735,074

  • 4 · Accounts receivable

    beginning of year $20,058,773 · end of year $23,373,599

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,289,754 · end of year $18,785,689

  • 10a · Land, buildings and equipment: cost or other basis

    $817,996,767

  • 10b · Land, buildings and equipment: accumulated depreciation

    $254,739,061

  • 10c · Land, buildings and equipment, net

    beginning of year $545,427,414 · end of year $563,257,706

  • 11 · Investments: publicly traded securities

    beginning of year $230,657,255 · end of year $263,334,628

  • 12 · Investments: other securities

    beginning of year $90,392,024 · end of year $103,946,117

  • 15 · Other assets

    beginning of year $10,761,903 · end of year $14,053,339

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,529,084 · end of year $35,508,819

  • 19 · Deferred revenue

    beginning of year $21,870,362 · end of year $24,505,510

  • 20 · Tax-exempt bond liabilities

    beginning of year $355,320,257 · end of year $348,551,266

  • 25 · Other liabilities

    beginning of year $13,301,469 · end of year $11,932,174

  • 27 · Net assets without donor restrictions

    beginning of year $290,088,664 · end of year $308,433,521

  • 28 · Net assets with donor restrictions

    beginning of year $288,889,395 · end of year $327,592,030

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE EDUCATIONAL SERVICES, SEE SCHEDULE O.

  • EDUCATIONAL INSTRUCTION: IN THE ACADEMIC YEAR 2023-2024, STEVENS' ENROLLMENT WAS 4,092 UNDERGRADUATE STUDENTS AND 4,750 GRADUATE STUDENTS. 871 STUDENTS GRADUATED WITH BACHELOR OF ENGINEERING, SCIENCE, BUSINESS OR ARTS DEGREES, 2,300 STUDENTS RECEIVED MASTER'S IN ENGINEERING, SCIENCE OR BUSINESS ADMINISTRATION. 72 PHD 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.

    Expenses $356,961,436 · Grants $129,554,579 · Revenue $387,660,414

  • RESEARCH: THE U.S. DEPARTMENT OF DEFENSE SUPPORTS STEVENS LEADERSHIP OF THE SYSTEMS ENGINEERING RESEARCH CENTER (SERC), A UNIVERSITY AFFILIATED RESEARCH CENTER (UARC). THE NATIONAL SCIENCE FOUNDATION SUPPORTS THE CENTER FOR RESEARCH FOR ADVANCING FINANCIAL TECHNOLOGIES, AN INDUSTRY-UNIVERSITY COOPERATIVE RESEARCH CENTER (IUCRC). STEVENS IS RECOGNIZED BY THE DEPARTMENT OF HOMELAND SECURITY AS A NATIONAL CENTER OF EXCELLENCE IN INFORMATION ASSURANCE AS IT SUPPORTS THE ACTIVITIES OF THE CENTER FOR THE ADVANCEMENT OF SECURE SYSTEMS AND INFORMATION ASSURANCE (CASSIA).

    Expenses $58,552,958 · Revenue $65,481,110

  • STUDENT LIFE: THE UNIVERSITY MAINTAINS A 55 ACRE CAMPUS IN HOBOKEN, NEW JERSEY AND PROVIDES STUDENTS WITH ON 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 153 CLUBS, ORGANIZATIONS AND VARSITY SPORTS THAT OFFER THE STUDENTS AMPLE OPPORTUNITY TO PARTICIPATE, BROADEN AND ENRICH THEIR STUDENT LIFE. THERE ARE ALSO 22 FRATERNITIES AND SORORITIES ON CAMPUS. THE S.C. WILLIAMS LIBRARY SERVES AS THE UNIVERSITY'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.

    Expenses $49,525,219 · Revenue $39,945,578

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • NARIMAN FARVARDIN

    PRESIDENT/TRUSTEE

    Total calculated
    $1,254,554
    From this org
    $1,221,028
    From related orgs
    $0
    Other
    $33,526
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $926,352
    Bonus
    $266,789
    Other
    $27,887
    Deferred
    $33,000
    Nontaxable benefits
    $526
    Filer's total
    $1,254,554

  • DIBYENDU DIBS SARKAR

    TRUSTEE/PROFESSOR AS OF 5/21/24

    Total calculated
    $295,382
    From this org
    $243,388
    From related orgs
    $0
    Other
    $51,994
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $242,872
    Bonus
    $0
    Other
    $516
    Deferred
    $22,035
    Nontaxable benefits
    $29,959
    Filer's total
    $295,382

  • R ELAINE HENRY

    TRUSTEE/PROFESSOR

    Total calculated
    $242,679
    From this org
    $211,068
    From related orgs
    $0
    Other
    $31,611
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $209,798
    Bonus
    $0
    Other
    $1,270
    Deferred
    $20,925
    Nontaxable benefits
    $10,686
    Filer's total
    $242,679

  • MO MANSOURI

    TRUSTEE/ASSOC PROF TO 5/21/2024

    Total calculated
    $221,066
    From this org
    $177,437
    From related orgs
    $0
    Other
    $43,629
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $176,290
    Bonus
    $1,000
    Other
    $147
    Deferred
    $13,389
    Nontaxable benefits
    $30,240
    Filer's total
    $221,066

  • CHRISTOPHER J FRANK

    TRUSTEE/ADJUNCT AS OF 12/1/23

    Total calculated
    $6,034
    From this org
    $6,000
    From related orgs
    $0
    Other
    $34
    Hours/week
    1

  • MEHRAB H SYED

    TRUSTEE

    Total calculated
    $3,015
    From this org
    $3,015
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • JARED W DONNELLY

    TRUSTEE AS OF 5/21/24

    Total calculated
    $867
    From this org
    $867
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • STEPHEN T BOSWELL

    CHAIRMAN/TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • SALEEL V AWSARE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LAWRENCE T BABBIO JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARISSA BROCK

    TRUSTEE AS OF 5/21/24

    Total calculated
    $0
    Hours/week
    1

  • DEVON E BROOKS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CHARLES J BUSCARINO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARY ANNE CANNON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KAREN S CAROLONZA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PAM P CHENG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • THOMAS A CORCORAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PHILIP P CROWLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHN R DEARBORN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH DEL GUERCIO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM W DESTLER

    TRUSTEE TO 12/1/23

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH G DIPOMPEO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MANUEL S ESCOBEDO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • HERMES O GONZALEZ-BELLO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHN SEAN J HANLON IV

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOELLE M HINDS

    TRUSTEE TO 5/21/24

    Total calculated
    $0
    Hours/week
    1

  • EMILY R KOVELESKY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • A MICHAEL LIPPER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LISA M MASCOLO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • THOMAS J NATHANSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SAMUEL P RECKFORD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • VIRGINIA P RUESTERHOLZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHN A SCHEPISI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CHARLES H SHOTMEYER

    TRUSTEE AS OF 12/1/23

    Total calculated
    $0
    Hours/week
    1

  • LOUIS A STEINBERG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • J SCOTT SWENSEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • HAILEY TANNER

    TRUSTEE TO 5/21/24

    Total calculated
    $0
    Hours/week
    1

  • PAUL VON AUTENRIED

    TRUSTEE AS OF 12/1/23

    Total calculated
    $0
    Hours/week
    1

  • LOUIS J MAYER

    VP OF FINANCE/ TREASURER, CFO

    Total calculated
    $532,411
    From this org
    $476,700
    From related orgs
    $0
    Other
    $55,711
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $461,676
    Bonus
    $13,500
    Other
    $1,524
    Deferred
    $33,000
    Nontaxable benefits
    $22,711
    Filer's total
    $532,411

  • KATHY L SCHULZ

    VP & GENERAL COUNSEL/SECRETARY

    Total calculated
    $525,795
    From this org
    $482,512
    From related orgs
    $0
    Other
    $43,283
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $473,720
    Bonus
    $8,000
    Other
    $792
    Deferred
    $33,000
    Nontaxable benefits
    $10,283
    Filer's total
    $525,795

  • JOSEPH E CASSIDY

    AVP FINANCE/ASSIST TREAS

    Total calculated
    $303,084
    From this org
    $277,784
    From related orgs
    $0
    Other
    $25,300
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $275,268
    Bonus
    $2,000
    Other
    $516
    Deferred
    $24,774
    Nontaxable benefits
    $526
    Filer's total
    $303,084

  • TONIANN BIONDOLILLO

    ASST SEC/EXEC ASST

    Total calculated
    $123,673
    From this org
    $103,694
    From related orgs
    $0
    Other
    $19,979
    Hours/week
    55

  • JIANMIN QU

    PROVOST & SVP FOR ACADEMIC AFFAIRS

    Total calculated
    $618,247
    From this org
    $562,536
    From related orgs
    $0
    Other
    $55,711
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $536,012
    Bonus
    $25,000
    Other
    $1,524
    Deferred
    $33,000
    Nontaxable benefits
    $22,711
    Filer's total
    $618,247

  • GREGORY PRASTACOS

    DEAN

    Total calculated
    $573,951
    From this org
    $511,191
    From related orgs
    $0
    Other
    $62,760
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $488,719
    Bonus
    $20,000
    Other
    $2,472
    Deferred
    $33,000
    Nontaxable benefits
    $29,760
    Filer's total
    $573,951

  • EDMUND SYNAKOWSKI

    VICE PROVOST

    Total calculated
    $494,546
    From this org
    $438,835
    From related orgs
    $0
    Other
    $55,711
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $388,043
    Bonus
    $0
    Other
    $50,792
    Deferred
    $33,000
    Nontaxable benefits
    $22,711
    Filer's total
    $494,546

  • CONSTANTIN CHASSAPIS

    SR. VICE PROVOST

    Total calculated
    $483,456
    From this org
    $427,745
    From related orgs
    $0
    Other
    $55,711
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $415,221
    Bonus
    $11,000
    Other
    $1,524
    Deferred
    $33,000
    Nontaxable benefits
    $22,711
    Filer's total
    $483,456

  • JEAN ZU

    DEAN

    Total calculated
    $475,948
    From this org
    $432,665
    From related orgs
    $0
    Other
    $43,283
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $416,873
    Bonus
    $15,000
    Other
    $792
    Deferred
    $33,000
    Nontaxable benefits
    $10,283
    Filer's total
    $475,948

  • LAURA ROSE

    VP FOR DEV/ALUM

    Total calculated
    $455,565
    From this org
    $400,184
    From related orgs
    $0
    Other
    $55,381
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $391,668
    Bonus
    $8,000
    Other
    $516
    Deferred
    $29,700
    Nontaxable benefits
    $25,681
    Filer's total
    $455,565

  • ELISABETH MCGRATH

    VP FOR UNIV RELATIONS

    Total calculated
    $448,497
    From this org
    $417,356
    From related orgs
    $0
    Other
    $31,141
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $403,064
    Bonus
    $13,500
    Other
    $792
    Deferred
    $30,615
    Nontaxable benefits
    $526
    Filer's total
    $448,497

  • TEJASH PATEL

    CIO, VP INFORMATION TECHNOLOGY

    Total calculated
    $404,607
    From this org
    $377,681
    From related orgs
    $0
    Other
    $26,926
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $364,061
    Bonus
    $13,500
    Other
    $120
    Deferred
    $26,400
    Nontaxable benefits
    $526
    Filer's total
    $404,607

  • ROBERT MAFFIA

    VP FOR FACILITIES/OPERATIONS

    Total calculated
    $403,207
    From this org
    $340,447
    From related orgs
    $0
    Other
    $62,760
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $317,755
    Bonus
    $13,500
    Other
    $9,192
    Deferred
    $33,000
    Nontaxable benefits
    $29,760
    Filer's total
    $403,207

  • SHERAINE GILLIAM

    CHRO, VP FOR HUMAN RESOURCES

    Total calculated
    $396,531
    From this org
    $360,648
    From related orgs
    $0
    Other
    $35,883
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $312,028
    Bonus
    $13,500
    Other
    $35,120
    Deferred
    $25,600
    Nontaxable benefits
    $10,283
    Filer's total
    $396,531

  • ANTHONY BARRESE

    INTERIM DEAN

    Total calculated
    $375,982
    From this org
    $321,070
    From related orgs
    $0
    Other
    $54,912
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $308,848
    Bonus
    $9,750
    Other
    $2,472
    Deferred
    $32,201
    Nontaxable benefits
    $22,711
    Filer's total
    $375,982

  • CINDY CHIN

    VICE PRESIDENT FOR ENROLLMENT MGMT

    Total calculated
    $329,302
    From this org
    $308,490
    From related orgs
    $0
    Other
    $20,812
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $294,870
    Bonus
    $13,500
    Other
    $120
    Deferred
    $20,286
    Nontaxable benefits
    $526
    Filer's total
    $329,302

  • SARA KLEIN

    VICE PRESIDENT FOR STUDENT AFFAIRS

    Total calculated
    $318,985
    From this org
    $280,351
    From related orgs
    $0
    Other
    $38,634
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $272,171
    Bonus
    $8,000
    Other
    $180
    Deferred
    $22,356
    Nontaxable benefits
    $16,278
    Filer's total
    $318,985

  • DINESH VERMA

    PROFESSOR/ EXEC DIR OF SERC

    Total calculated
    $460,204
    From this org
    $400,709
    From related orgs
    $0
    Other
    $59,495
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $396,557
    Bonus
    $1,500
    Other
    $2,652
    Deferred
    $29,700
    Nontaxable benefits
    $29,795
    Filer's total
    $460,204

  • DAVID ZENG

    VICE PROVOST

    Total calculated
    $456,111
    From this org
    $403,700
    From related orgs
    $0
    Other
    $52,411
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $396,184
    Bonus
    $7,000
    Other
    $516
    Deferred
    $29,700
    Nontaxable benefits
    $22,711
    Filer's total
    $456,111

  • GEORGE KORFIATIS

    PROFESSOR

    Total calculated
    $441,375
    From this org
    $385,629
    From related orgs
    $0
    Other
    $55,746
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $384,105
    Bonus
    $0
    Other
    $1,524
    Deferred
    $33,000
    Nontaxable benefits
    $22,746
    Filer's total
    $441,375

  • MUHAMMAD HAJJ

    DEPARTMENT CHAIR

    Total calculated
    $412,603
    From this org
    $356,857
    From related orgs
    $0
    Other
    $55,746
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $355,065
    Bonus
    $1,000
    Other
    $792
    Deferred
    $33,000
    Nontaxable benefits
    $22,746
    Filer's total
    $412,603

  • CHRISTOS CHRISTODOULATOS

    PROFESSOR

    Total calculated
    $394,709
    From this org
    $338,963
    From related orgs
    $0
    Other
    $55,746
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $337,439
    Bonus
    $0
    Other
    $1,524
    Deferred
    $33,000
    Nontaxable benefits
    $22,746
    Filer's total
    $394,709

  • CHRISTOPHE PIERRE

    FORMER KEY

    Total calculated
    $428,729
    From this org
    $372,983
    From related orgs
    $0
    Other
    $55,746
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $372,257
    Bonus
    $0
    Other
    $726
    Deferred
    $33,000
    Nontaxable benefits
    $22,746
    Filer's total
    $428,729

  • DILHAN KALYON

    FORMER KEY

    Total calculated
    $306,424
    From this org
    $259,579
    From related orgs
    $0
    Other
    $46,845
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $258,355
    Bonus
    $0
    Other
    $1,224
    Deferred
    $23,947
    Nontaxable benefits
    $22,898
    Filer's total
    $306,424

  • DAWN DA SILVA

    FORMER AVP

    Total calculated
    $224,096
    From this org
    $205,556
    From related orgs
    $0
    Other
    $18,540
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $205,280
    Bonus
    $0
    Other
    $276
    Deferred
    $18,014
    Nontaxable benefits
    $526
    Filer's total
    $224,096

  • MICHAEL PARENTE

    FORMER VP - IT

    Total calculated
    $213,530
    From this org
    $196,831
    From related orgs
    $0
    Other
    $16,699
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $196,711
    Bonus
    $0
    Other
    $120
    Deferred
    $16,173
    Nontaxable benefits
    $526
    Filer's total
    $213,530

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

COMPENSATION INFORMATION PART I, LINE 1
THE STEVENS INSTITUTE OF TECHNOLOGY GUIDELINES REGARDING SPOUSAL TRAVEL ARE INCLUDED IN THE STEVENS BUSINESS AND TRAVEL EXPENSE POLICY. EXPENSES INCURRED FOR ACCOMPANYING COMPANIONS/SPOUSES ARE CONSIDERED PERSONAL IN NATURE EXCEPT ON OCCASIONS WHEN ATTENDANCE OF A COMPANION/SPOUSE AT AN EVENT SERVES A BONA FIDE BUSINESS PURPOSE FOR THE UNIVERSITY AND THE PRESENCE OF THE COMPANION/SPOUSE IS ESSENTIAL (NOT JUST BENEFICIAL) TO THE EMPLOYEE BEING ABLE TO CARRY OUT THE BUSINESS PURPOSE FOR THE UNIVERSITY; GIVEN THAT ATTENDANCE IS ESSENTIAL, THIS IS NOT TAXABLE TO THE EMPLOYEE. CAMPUS HOUSING IS PROVIDED FOR THE UNIVERSITY PRESIDENT AND IS USED FOR PROGRAM AND DEVELOPMENT PURPOSES. THE PRESIDENT IS CONTRACTUALLY REQUIRED TO LIVE IN CAMPUS HOUSING AND, THEREFORE, IT IS NOT TAXABLE COMPENSATION TO HIM. THE FOLLOWING KEY EMPLOYEE ALSO RECEIVED A HOUSING ALLOWANCE WHICH IS INCLUDED IN THEIR TAXABLE INCOME: - EDMUND SYNAKOWSKI, VICE PROVOST 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. PERSONAL SERVICES ARE PROVIDED TO THE PRESIDENT IN THE FORM OF HOUSEKEEPING BY AN EMPLOYEE OF THE PHYSICAL PLANT DEPARTMENT. THE VALUE OF THESE SERVICES IS INCLUDED AS TAXABLE INCOME AND IS DISCLOSED AS PART OF HIS SCHEDULE J PART II, COLUMN B (III), OTHER REPORTABLE COMPENSATION.
INCENTIVE COMPENSATION, PART I, LINE 7
THE STEVENS INCENTIVE COMPENSATION PLAN PROVIDES A MECHANISM TO REWARD FACULTY AND CERTAIN KEY STAFF FOR EXTRAORDINARY PERFORMANCE OVER A PERIOD OF ONE ACADEMIC YEAR WHERE PERMITTED BY LAW. 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 EXTRAORDINARY 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 THE PLAN. INCENTIVE COMPENSATION FOR FACULTY AND STAFF 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 COMMITTEE OF THE BOARD OF TRUSTEES AND APPROVED BY THE HUMAN RESOURCES COMMITTEE OR FULL BOARD OF TRUSTEES AS PART OF ITS CONSIDERATION OF THE PRESIDENT, THE TOP FIVE HIGHEST COMPENSATED EMPLOYEES, AND OTHER DISQUALIFIED PERSONS LISTED IN SCHEDULE O. EACH YEAR, THE HUMAN RESOURCES COMMITTEE APPROVES THE ANNUAL PERFORMANCE GOALS FOR THE EXECUTIVE LEADERS AND REVIEWS WITH THE PRESIDENT THE PROCESS FOR DETERMINING THEM FOR EACH OTHER GROUP OR SUB-GROUP OF EMPLOYEES.
COMPENSATION INFORMATION, PART II LINE 4
PART II, LINE 4 CONTAINS INFORMATION ABOUT THE COMPENSATION OF THE UNIVERSITY'S PRESIDENT, DR. NARIMAN FARVARDIN, PAID DURING THE YEAR. ALL AMOUNTS WERE PAID PURSUANT TO THE PRESIDENT'S WRITTEN FIVE-YEAR CONTRACT. IN ADDITION TO HIS ANNUAL BASE SALARY OF $926,352, THIS AMOUNT INCLUDES AN ANNUAL INCENTIVE COMPENSATION PAYMENT OF $266,789 ASSOCIATED WITH ACHIEVEMENT OF SEPARATE METRICS FOR THE UNIVERSITY'S FISCAL YEAR ENDED 6/30/2023. ALL INCENTIVE COMPENSATION AMOUNTS WERE BASED UPON DETERMINATIONS BY THE HUMAN RESOURCES COMMITTEE AND THE FULL BOARD OF TRUSTEES THAT OBJECTIVE METRICS RELATING TO THE UNIVERSITY'S STRATEGIC PLAN WERE ACHIEVED BY THE PRESIDENT AND, IN MANY CASES EXCEEDED WITH EXCEPTIONAL PERFORMANCE. IN ADDITION, SUCH AMOUNTS WERE REVIEWED AND EVALUATED FOR MARKET COMPARABILITY BY THE UNIVERSITY'S INDEPENDENT COMPENSATION CONSULTANT.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CASTLE POINT HOLDINGS INC

    C · HOLDING COMPANY - SEE PART VII · NJ · 100% owned · share of income -$20,640 · share of assets $416,742 · controlled entity

    Directly controlled by STEVENS INSTITUTE OF TECHNOLOGY

  • CHARITABLE REMAINDER TRUST (1)

    T · TRUST · CA · controlled entity

  • CHARITABLE REMAINDER UNITRUST (3)

    T · TRUST · RI · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
28 April 2025
IRS schema version
2023v6.0
Source object
202501269349302400

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