Stevens Institute of Technology

“Family relationship two of stevens' trustees are related by marriage. Trustee karen carolonza is the step-daughter-in-law of trustee frank semcer. All such relationships are disclosed as part of stevens' annual conflict of interest disclosure process and reported to the audit and risk committee and to the board of trustees. Mitigation efforts will be employed by the secretary to the board and the chairman of the board, if needed, to avoid any impact on stevens relating to these relationships.”

“Governing body and manangement stevens' board of trustees delegated to a prominent investment bank the management of stevens' endowment pursuant to contracts which address the scope of the delegation of authority, monitoring by stevens' management and the board, and reporting, among other matters. Pursuant to the by-laws of the university and the charter of the executive committee, the executive committee has the authority to act on behalf of the board of trustees in certain instances.”

“Governing documents the executive committee charter was amended on december 3, 2021 to reflect its membership consists of the chairs of all board committees and the chairman of the board.”

“Form 990 review this form 990 was prepared by members of finance and legal offices of the university together with its outside tax and accounting firm specializing in higher education. This form 990 was then presented to the audit and risk committee of the board of trustees for review and approval. Following this process and any modifications recommended by the audit and risk committee, the form 990 was presented to a meeting of the full board of trustees of the university and approved in accordance with the by-laws of the university.”

“Conflict of interest the university's conflict of interest policy requires ongoing compliance and self-reporting of conflicts. It also provides for completion of an annual disclosure form by all trustees, officers, certain staff positions and faculty. Each disclosure form is reviewed by the office of audit, risk and compliance, and disclosure forms for trustees and officers are reviewed by the office of general counsel; all conflicts of interest are reported to the audit and risk committee of the board and to the board of trustees. Information disclosed in the disclosure forms which indicates the presence of a conflict is reviewed, discussed with relevant personnel and, if necessary, the conflict is eliminated or managed pursuant to a conflict management plan or device supervised by the chairman of the board of trustees or the chairman of the audit committee, with advice from the office of audit, risk and compliance and the general counsel. In addition, conflicts are identified by the officers of the university and staff at other levels of the university as they arise from time to time and are referred to the office of audit, risk and compliance and the general counsel for further analysis and resolution. Certain conflicts relating to research activities may be managed by the executive director of the office of sponsored programs, with advice from the office of audit, risk and compliance and the general counsel.”

“Compensation the compensation of the president and five highest compensated employees of the university was approved by an independent human resources committee of the board of trustees and the full board of trustees, in each case acting at meetings duly held. In addition to approving the president's compensation for calendar year 2021, the compensation for the following 5 additional positions were approved: provost and university vice president chief financial officer, vice president for finance and treasurer dean of engineering and science vice president, general counsel and secretary dean of school of business with respect to the following additional positions, the human resources committee of the board of trustees, acting on behalf of the board of trustees, approved the compensation at duly held meetings of the committee. The board was fully informed of the committee's actions: vice president for development and alumni engagement vice president for facilities and campus operations vice president for enrollment management and student affairs vice president for information technology and cio vice president for communications and marketing vice president for human resources vice president for government and community relations, chief of staff faculty trustee (2) all such compensation was determined based upon recommendations from the president (except with respect to the president, whose compensation is recommended by the board of trustees, and the deans and faculty, whose compensation is recommended by the provost). The university retains the services of a nationally prominent compensation consulting firm to perform a biennial comprehensive compensation assessment of the salaries of all members of the senior administration, including the president. This study includes a comparison of the university's salaries with a core group of peer institutions. The results of the study are reviewed and discussed annually with the board's human resources committee and the board of trustees, as those bodies approve executive compensation. The secretary to the board of trustees or the vice president of human resources took contemporaneous minutes of each meeting of the board at which these compensation decisions were made. Neither of them took minutes with respect to their own compensation.”

“Disclosure the governing documents of the university together with charters for each committee of the board of trustees, the conflict of interest policy and the financial statements of the university are all made available on the university's website (www.stevens.edu). In addition, a variety of other documents and materials regarding the university and its operations as well as the other policies of the university, are also available on the website. Form 990, part x - investments - publicly traded securities: equity 187,028,285 fixed income 7,507,929 total 194,536,214”

“The full legal name of the university is the trustees of the stevens institute of technology. Stevens institute of technology is registered in the state of new jersey as a "doing business name". Covid-19 impact the continued spread of the coronavirus (covid-19) around the world has caused significant volatility in the u.s. And international markets. While the university did experience unrealized losses to the market value of its endowment assets during the fiscal year ended june 30, 2022, the effect was not material due to continued contributions. Students were able to return to campus and continued government grants provided relief for the student and covid-19 related expenses. There is, however, uncertainty around the breadth and duration of business disruptions related to covid-19, as well as its impact on the u.s. And international economies and, as such, while it may have an impact on the future operations, it is not expected to be material.”

“Stevens institute of technology was founded in 1870. The university is a non-profit research university offering more than 35 undergraduate majors including programs in engineering, the sciences, computer science, business, and the humanities; and graduate level courses in a range of disciplines leading to the masters and phd degrees. Academic research is carried out at every level of the university. The mission of the university is accomplished by the achievement of the following core goals: providing students with a broad-based, multidisciplinary learning experience in the sciences, engineering, business and liberal arts while stressing the fundamental concepts, techniques and attitudes that underlie different branches of technology; promoting the personal development of the student, demonstrated by a sense of ethical responsibility, awareness of the societal impact of their professions, development of leadership and team skills, and a love of learning; creating knowledge through world-class research with a distinct impact in focused areas of national importance; nurturing an innovative environment wherein students, faculty and colleagues in industry contribute to the process of conception, design and marketplace realization of new technologies.”

“Post-retirement benefit changes -355,929. Uncollectible contributions -428,530. Change in value of split interest agreements -400,810. Loss in value of annuities and gifts -13,425. Adjustment for cph net assets in fy22 -99,021. Miscellaneous loss -10.”