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Nonprofiteer
← THE TOWER FOUNDATION OF SAN JOSE STATE UNIVERSITY

Form 990 for tax year 2023

Filed by THE TOWER FOUNDATION OF SAN JOSE STATE UNIVERSITY.

Totals

Total revenue
$40,849,599
Total expenses
$26,052,888
Contributions and grants received
$21,495,799
Grants paid
$4,416,196
Program service revenue
$4,020,630
Investment income
$12,815,225
Other revenue
$2,517,945
Total assets, end of year
$330,738,995
Total liabilities, end of year
$54,208,134
Net assets or fund balances, end of year
$276,530,861
Program services expenses (Part IX)
$21,731,820
Management and general expenses
$4,321,068
Fundraising expenses
$0
Program service expenses (Part III)
$21,731,820

Program services were 83.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Cynthia Teniente-Matson

    SJSU President

    Total calculated
    $543,065
    From this org
    $0
    From related orgs
    $426,454
    Other
    $116,611
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $415,454 related
    Bonus
    $0
    Other
    $0 + $11,000 related
    Deferred
    $0 + $105,600 related
    Nontaxable benefits
    $0 + $11,011 related
    Filer's total
    $0 + $543,065 related

  • Karthika Sasikumar

    Faculty Senate Chair

    Total calculated
    $195,689
    From this org
    $0
    From related orgs
    $129,906
    Other
    $65,783
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $129,906 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $36,995 related
    Nontaxable benefits
    $0 + $28,788 related
    Filer's total
    $0 + $195,689 related

  • Judy Nagai

    CEO

    Total calculated
    $113,230
    From this org
    $0
    From related orgs
    $88,335
    Other
    $24,895
    Hours/week
    30 + 10 related

  • Tom McCarron

    Interim VPUA & CEO (until 12/31/23)

    Total calculated
    $74,093
    From this org
    $0
    From related orgs
    $74,093
    Other
    $0
    Hours/week
    30 + 10 related

  • Folarin Erogbogbo

    Faculty At-Large Rep

    Total calculated
    $167,984
    From this org
    $11,392
    From related orgs
    $76,397
    Other
    $80,195
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $11,392 + $76,397 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $24,804 related
    Nontaxable benefits
    $26,603 + $28,788 related
    Filer's total
    $37,995 + $129,989 related

  • Phil Boyce

    Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Connie Moore

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Wanda Hendrix

    Treasurer

    Total calculated
    $0
    Hours/week
    0.5

  • John W Baird

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • William E Barton

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Steve Caplan

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Vincent Del Casino

    Director

    Total calculated
    $397,414
    From this org
    $0
    From related orgs
    $361,511
    Other
    $35,903
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $361,511 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,000 related
    Nontaxable benefits
    $0 + $23,903 related
    Filer's total
    $0 + $397,414 related

  • Dana C Ditmore

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Charlie Faas

    Director

    Total calculated
    $349,523
    From this org
    $0
    From related orgs
    $287,306
    Other
    $62,217
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $287,306 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $28,400 related
    Nontaxable benefits
    $0 + $33,817 related
    Filer's total
    $0 + $349,523 related

  • Eric Kelly

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Janikke Klem

    Alumni Appointee

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Lazzarini

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Linda Morasch

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Sarab Multani

    Student Body Rep

    Total calculated
    $0
    Hours/week
    0.5

  • Edward Oates

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Gary Radine

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Jeff Ricci

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Kevin Swanson

    Athletic Directors Council

    Total calculated
    $0
    Hours/week
    0.5

  • Sandy Swanson

    Athletic Directors Council

    Total calculated
    $0
    Hours/week
    0.5

  • Marko Trapani

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Peter V Ueberroth

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Colleen B Wilcox

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Robin Reynolds

    COO/Secretary

    Total calculated
    $272,697
    From this org
    $0
    From related orgs
    $218,394
    Other
    $54,303
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $218,394 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $52,067 related
    Nontaxable benefits
    $0 + $2,236 related
    Filer's total
    $0 + $272,697 related

  • Brent Brennan

    Head Coach, Football (until 1/16/24)

    Total calculated
    $1,811,914
    From this org
    $1,372,900
    From related orgs
    $344,385
    Other
    $94,629
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $1,366,900 + $344,385 related
    Bonus
    $0
    Other
    $6,000
    Deferred
    $0 + $60,812 related
    Nontaxable benefits
    $0 + $33,817 related
    Filer's total
    $1,372,900 + $439,014 related

  • Timothy Miles

    Head Coach, Men's Basketball

    Total calculated
    $905,515
    From this org
    $478,933
    From related orgs
    $343,796
    Other
    $82,786
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $396,433 + $343,796 related
    Bonus
    $82,500
    Other
    $0
    Deferred
    $0 + $46,733 related
    Nontaxable benefits
    $0 + $36,053 related
    Filer's total
    $478,933 + $426,582 related

  • Jeffrey Konya

    Director of Athletics

    Total calculated
    $538,191
    From this org
    $163,455
    From related orgs
    $274,564
    Other
    $100,172
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $97,080 + $274,564 related
    Bonus
    $57,375
    Other
    $9,000
    Deferred
    $0 + $89,026 related
    Nontaxable benefits
    $0 + $11,146 related
    Filer's total
    $163,455 + $374,736 related

  • Kevin McGiven

    Assistant Coach, Football

    Total calculated
    $422,678
    From this org
    $151,588
    From related orgs
    $219,273
    Other
    $51,817
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $151,588 + $219,273 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $18,000 related
    Nontaxable benefits
    $0 + $33,817 related
    Filer's total
    $151,588 + $271,090 related

  • Derrick Odum

    Assistant Coach, Football

    Total calculated
    $445,595
    From this org
    $136,636
    From related orgs
    $226,173
    Other
    $82,786
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $121,636 + $226,173 related
    Bonus
    $0
    Other
    $15,000
    Deferred
    $0 + $46,733 related
    Nontaxable benefits
    $0 + $36,053 related
    Filer's total
    $136,636 + $308,959 related

  • Lisa Millora

    Former CEO

    Total calculated
    $451,841
    From this org
    $6,000
    From related orgs
    $385,011
    Other
    $60,830
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $6,000 + $385,011 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $36,991 related
    Nontaxable benefits
    $0 + $23,839 related
    Filer's total
    $6,000 + $445,841 related

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

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

Provenance

Return type
form_990
Tax year
2023
Filed
23 April 2025
IRS schema version
2023v6.0
Source object
202501259349300415

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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