Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $16,646,377

• 1g · Noncash contributions included above

  $271,741

• 2a · Program service revenue: Reimbursements from SJSU/Auxiliar

  total $5,541,867 · related or exempt $5,541,867

• 3 · Investment income

  total $3,861,448 · unrelated business -$804,919 · excluded $4,666,367

• 7a · Gross sales of assets other than inventory

  securities $46,671,197

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

  securities $45,355,434

• 7c · Gain or loss

  securities $1,315,763

• 7d · Net gain or loss

  total $1,315,763 · excluded $1,315,763

• 11a · Other revenue: Flex Benefits Revenue

  total $1,124,118 · related or exempt $1,124,118

• 11d · All other revenue

  total $59,456 · excluded $59,456

• 11e · Other revenue, total

  $1,183,574

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $3,834,219 · program services $3,834,219

• 2 · Grants to domestic individuals

  total $63,705 · program services $63,705

• 7 · Other salaries and wages

  total $9,777,536 · program services $7,271,301 · management and general $2,506,235

• 8 · Pension plan contributions

  total $33,352 · program services $32,352 · management and general $1,000

• 9 · Other employee benefits

  total $2,492,347 · program services $1,633,786 · management and general $858,561

• 10 · Payroll taxes

  total $447,102 · program services $426,888 · management and general $20,214

• 11b · Fees: legal

  total $12,895 · management and general $12,895

• 11c · Fees: accounting

  total $349,670 · management and general $349,670

• 11f · Fees: investment management

  total $871,277 · management and general $871,277

• 11g · Fees: other

  total $1,798,962 · program services $1,607,643 · management and general $191,319

• 12 · Advertising and promotion

  total $4,777 · program services $4,777

• 13 · Office expenses

  total $2,694,449 · program services $2,694,449

• 16 · Occupancy

  total $43,737 · program services $10,361 · management and general $33,376

• 17 · Travel

  total $1,753,678 · program services $1,747,651 · management and general $6,027

• 19 · Conferences, conventions and meetings

  total $585,238 · program services $571,039 · management and general $14,199

• 20 · Interest

  total $1,048,249 · program services $1,048,249

• 22 · Depreciation, depletion and amortization

  total $38,138 · management and general $38,138

• 23 · Insurance

  total $28,766 · management and general $28,766

• 24a · Other expenses: Taxes and Licenses

  total $420,060 · program services $418,750 · management and general $1,310

• 24b · Other expenses: Dues and Subscriptions

  total $267,839 · program services $240,324 · management and general $27,515

• 24c · Other expenses: Student Support

  total $104,630 · program services $104,630

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $34,041,896 · end of year $35,740,212

• 3 · Pledges and grants receivable

  beginning of year $18,548,864 · end of year $17,671,632

• 4 · Accounts receivable

  beginning of year $5,017,474 · end of year $4,214,883

• 7 · Other notes and loans receivable

  beginning of year $21,257,489 · end of year $2,279,478

• 9 · Prepaid expenses and deferred charges

  beginning of year $10,920 · end of year $424,527

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

  $42,040,489

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

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $20,411,961 · end of year $42,040,489

• 11 · Investments: publicly traded securities

  beginning of year $167,381,342 · end of year $182,635,743

• 12 · Investments: other securities

  beginning of year $2,995,519 · end of year $3,097,180

• 13 · Investments: program-related

  beginning of year $9,449,022 · end of year $10,666,032

• 15 · Other assets

  beginning of year $1,180,258 · end of year $1,297,401

• 17 · Accounts payable and accrued expenses

  beginning of year $591,478 · end of year $622,912

• 24 · Unsecured notes and loans payable

  beginning of year $42,470,000 · end of year $42,470,000

• 25 · Other liabilities

  beginning of year $3,566,139 · end of year $6,181,606

• 29 · Capital stock, trust principal or current funds

  beginning of year $233,667,128 · end of year $250,793,059

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• SJSU Tower Real Estate Fund LLC

  Real Estate Management · CA · income $0 · assets $0

  Directly controlled by The Tower Foundation of San Jose State University

• Hilo Project LLC

  Housing Investment · HI · income $0 · assets $0

  Directly controlled by The Tower Foundation of San Jose State University