SAN JOSE STATE UNIVERSITY RESEARCH FOUNDATION (EIN 946017638) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1932

Legal Domicile

Principal Officer

SHAILENDRA BAGHEL

Phone

4089241400

Tax Period

2024-07-01 to 2025-06-30

SAN JOSE STATE UNIVERSITY RESEARCH FOUNDATION, founded in 1932, is a mid-sized nonprofit in the Education sector that reported $89.3M in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $84.4M left a modest 5% surplus.

Mission

THE SAN JOSE STATE UNIVERSITY RESEARCH FOUNDATION IS AN AUXILIARY ORGANIZATION OF SAN JOSE STATE UNIVERSITY AND THE CALIFORNIA STATE UNIVERSITY SYSTEM. THE FOUNDATION'S MISSION IS TO ADVANCE THE WELFARE OF THE UNIVERSITY AND ASSIST IN FULFILLING ITS OBJECTIVES, SUPPLEMENT PROGRAMS AND ACTIVITIES OF THE UNIVERSITY, AND PROMOTE AND ASSIST THE UNIVERSITY'S EDUCATION SERVICES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $71,885,764

Program Service Revenue $13,474,659

Investment Income $2,852,796

Other Revenue $1,057,021

TOTAL REVENUE $89,270,240

Expense Breakdown

Grants Paid $6,910,818

Salaries & Benefits $46,439,070

Fundraising Expenses $0

Program Expenses $73,361,363

Other Expenses $31,026,616

TOTAL EXPENSES $84,376,504

Year-over-Year Comparison

	2024	2023	Change
Revenue	$89,270,240	$71,922,901	+0.2%
Expenses	$84,376,504	$66,512,324	+0.3%
Net Income	$4,893,736	$5,410,577	-0.1%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

1488

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,708,069

Total Directors

$4,129,663

Key Employees

$457,211

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARC D'ALARCAO	BOARD PRESIDENT	1.00	Officer Director	$0	$104,720	$369,019
MOHAMED ABOUSALEM	BOARD PRESIDENT	1.00	Officer Director	$0	$42,595	$207,857
JESSICA TRASK	BOARD VICE PRESIDENT	1.00	Officer Director	$0	$46,903	$245,713
RICHARD MOCARSKI	BOARD VICE PRESIDENT	1.00	Officer Director	$1,096	$51,804	$201,726
CHARLIE FAAS	BOARD TREASURER	1.00	Officer Director	$0	$81,777	$397,459
SHERYL EHRMAN	SJSU DEAN	1.00	Director	$0	$79,625	$350,854
HEATHER LATTIMER	SJSU DEAN	1.00	Director	$0	$60,907	$310,600
ANNE MARIE TODD	SJSU DEAN	1.00	Director	$0	$86,531	$324,149
JASON ALEKSANDER	SJSU PROFESSOR	1.00	Director	$0	$72,003	$205,520
PETRA DEKENS	MLML EXECUTIVE DIRECTOR	1.00	Director	$0	$86,681	$268,717
LAURIE DRABBLE	SJSU PROFESSOR (UNTIL 10/24)	1.00	Director	$14,921	$248	$76,698
KATY KAO	SJSU PROFESSOR	1.00	Director	$23,301	$55,709	$224,340
MATTHEW SPANGLER	SJSU DEPARTMENT CHAIR	1.00	Director	$0	$46,727	$210,875
HENRI BRILLON	STUDENT REPRESENTATIVE	1.00	Director	$0	$0	$0
SARA NAYEEM	STUDENT REPRESENTATIVE (UNTIL 02/25)	1.00	Director	$0	$0	$2,784
IVANO AIELLO	MLML PROFESSOR (UNTIL 10/24)	1.00	Director	$7,149	$67,314	$226,086
VINCENT DEL CASINO	SJSU PROVOST	1.00	Director	$0	$137,873	$507,266
ANDREW EXNER	EXECUTIVE DIRECTOR	40.00	Officer	$251,402	$34,893	$286,295
DEBORAH MALONEY	OSP DIRECTOR	40.00	Key Emp	$197,571	$12,787	$210,358
RANJIT KAUR	HR DIRECTOR	40.00	Key Emp	$192,087	$54,766	$246,853
KAREN PHILBRICK	MTI EXECUTIVE DIRECTOR	40.00	Highest	$263,813	$52,605	$316,418
MARK SNYCERSKI	SENIOR RESEARCH ASSOCIATE	40.00	Highest	$257,042	$63,072	$320,114
MARK YARBROUGH	PROJECT MANAGER	40.00	Highest	$229,402	$53,111	$282,513
SEAN LARAWAY	PROJECT DIRECTOR	20.00	Highest	$175,235	$73,540	$447,537
SHAILENDRA BAGHEL	FINANCE DIRECTOR	40.00	Highest	$173,000	$63,497	$236,497

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$89,270,240	$84,376,504	$76,693,420	$4,893,736
2024	No data	No data	No data	No data
2024	$71,922,901	$66,512,324	$66,788,650	$5,410,577
2023	$59,409,840	$58,288,881	$59,457,799	$1,120,959
2022	$56,020,839	$54,293,598	$60,826,660	$1,727,241
2021	$53,661,013	$54,306,631	$57,091,451	$-645,618
2020	$57,260,435	$57,341,017	$48,690,406	$-80,582
2019	$57,428,281	$57,169,909	$45,640,181	$258,372
2018	$54,255,402	$57,220,845	$43,785,269	$-2,965,443

SAN JOSE STATE UNIVERSITY RESEARCH FOUNDATION