South Jersey Technology Park

“The organization has a business operating agreement with rowan university for the university to provide accounting services and property maintenance services. The organization has also delegated the responsibility for the oversight of the audit and tax filings, and selection of an independent accountant to rowan university. The corresponding fee expense incurred during fiscal year 2024 was $301,490.”

“The rowan university board of trustees appoints all directors, except for the director position that is reserved to the president of the university.”

“Certain decisions are reserved to and subject to the approval of the rowan university board of trustees. These include the removal of a director or officer, the approval of budgets, and amendments to the bylaws or certificate of incorporation.”

“The organization has delegated the responsibility for the organization's form 990 to the rowan university division of finance. The form 990 is prepared by an outside accounting firm and is reviewed by the accounting services staff within the rowan university division of finance. A complete copy of the form 990 is provided to all members of the organization's board of directors prior to filing with the irs.”

“If a director, officer, or committee member (or a member of such person's family or on an entity controlled by either) has a financial interest conflicting with the interest of the corporation in any matter (such as whether to enter into a contract with another organization with which such individual is associated), then the individual must bring the conflict to the attention of the other directors, officers, and committee members, and refrain from participating or voting in any decision with respect to the matter. Notwithstanding the above, the corporation and its directors and employees shall fully comply with the ethics rules adopted from time to time by rowan university.”

“The organization makes its governing documents and financial statements available upon request.”

“The filing organization does not have a separate committee that assumes responsibility for selection of an independent accountant. However, the filing organization's related organization, rowan university, does have such a committee that assumes responsibility for selection on behalf of the filing organization. The filing organization does have a committee that assumes responsibility for the oversight of the audit of its financial statements.”

“The organization commenced payroll in the fourth quarter of fy2024. Accordingly, fy2024 compensation is reported on form 990, part ix, lines 7 -10.”