The Tower Foundation of San Jose State University

Analysis

The Tower Foundation of San Jose State University is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in March 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Tower Foundation of San Jose State University reported income of $28.5m and spending of $26.7m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $27.0m to $28.5m (+5.6%), an average of +1.4% a year. The sharpest change came in the year to June 2021, when income rose by 56%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Tower Foundation of San Jose State University sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Benefits Data Trust ($28.5m), Hawaii Preparatory Academy ($28.6m) and Paterson Arts and Science Charter School ($28.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 58% and program service revenue 19% of the total. Other salaries and wages came to $9.8m. At year end it held assets of $300.1m against liabilities of $49.3m, net assets of $250.8m. It reported 601 employees.