Financial Information

Tower Hall

The Tower Foundation undergoes an annual audit by an independent public accounting firm to ensure compliance with corporate governance requirements set by the State of California and the California State University system. Fiscal reports detail the Foundation's assets, liabilities, and the allocation of net assets based on donor restrictions. These funds help support students, faculty, programs, and capital projects.

audited financial statements

Audited Financial Statements

For the fiscal year ending June 30, 2024, the Tower Foundation was audited by RSM LLP, Certified Public Accountants. The audit was conducted in accordance with generally accepted auditing standards and, in their opinion, the financial statements presented fairly, in all material respects, the financial position of Tower Foundation as of June 30, 2024 in conformity with accounting principles generally accepted in the United States of America. Their independent auditor's report expressed an unqualified opinion.

990 tax return

Tax Returns

The Tower Foundation directly manages all financial aspects of funds donated to San Jose State University. The Tower Foundation is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code. It is certified as an auxiliary in good standing with the California State University System. An international accounting firm audits the foundation’s financial records annually.

miscellaneous

Miscellaneous Documents