University Financial Investments

May 10, 2024

Dear Campus Community,

San José State University empowers our community to share ideas and views about the world around us. Through different viewpoints, we strive to learn from each other.  We are a place where perspectives are heard and, where appropriate, acted upon for the betterment and evolving transformation of our campus community and the world beyond our campus.

SJSU continues to focus on navigating these challenging times with compassion and open communication while providing access to vital resources and respecting the lived experience of everyone on our campus. We are wholly committed to our institutional values as the defining measures of how we serve and show up for one another.

Transparency and communication are always a priority. Among many communication activities with our students, my Cabinet and I meet regularly with elected members of the Associated Students to discuss issues of significance to students, such as their recent resolutions. 

SJSU has a history of acknowledging and listening to the community regarding our investment policies and practices. In fact, the Tower Foundation, the Research Foundation and all of our auxiliary boards (including Associated Students and Student Union) also have student representatives. The Boards adhere to the CSU Investment Policy for Auxiliary Organizations.  Within their annual year-end activities and FY24/25 budget processes, I will ask each respective board to review the policies and practices that guide socially responsible investments. We always strive to ensure that our auxiliary policies and fund management align with our institutional values and support our strategic plan. 

While an initial review of investments by the Tower Foundation board indicates no direct holdings of companies identified in the April 29 AS Student Resolution [pdf], we are conducting further research to confirm – and we are committed to communicating an update when this research concludes. SJSU-affiliated auxiliaries also hold Exchange Traded Funds (ETF)/ Index diversified mutual funds with de minimis or nominal investments mentioned in the AS Resolution. We acknowledge that we can enhance the transparency of auxiliary investment policies and practices. Vice President of Administration and Finance Charlie Faas is gathering information for each auxiliary, and for ease of access, it will be centrally organized on the university website. 

The campus appreciates the leadership of our Spartan students in elevating these issues. We will continue to ensure that all students have the opportunity to learn and succeed in an environment that balances our commitment to free expression with a safe and healthy campus community.

Sincerely,
President Cynthia Teniente-Matson

Investment Information/Resources

Cal State University (CSU)

Tower Foundation

The Tower Foundation is a non-profit, public benefit organization that has a separate governing board with its own bylaws, policies and standing committees. The SJSU President is not able to direct policy decisions made by the Tower Foundation Board of Directors. 

Research Foundation

Investment Policies

SJSU Auxiliaries

SJSU's President has oversight authority, in accordance with Education Code and the California Code of Regulations (CCR)., and is responsible for the integrity of financial reporting made by campus auxiliary organizations and also must ensure the fiscal viability of campus auxiliary organizations, that campus auxiliary organizations' operations and expenditures comply with CSU and campus policy, and that campus auxiliary organizations submit annual budgets for review and approval.

Associated Students (AS)

Associated Students will be approving Investment Policies in Fall 2024.

Student Union (SU) Inc.

Spartan Shops (SSI)