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Current S&P Bond Rating for Stevens Institute as of
January 2008

 
In this and like communities, public sentiment is everything. With public sentiment, nothing can fail; without it nothing can succeed....Abraham Lincoln

The Document Archive

Below are numerous documents detailing the growing financial concerns with Stevens.  Please note that all of the information presented herein has been gathered from publicly accessible sources and centrally located in this area for both educational and reference purposes.

Newspaper Articles

Date Title PDF Format MS-Word Format
9/30/2005 Chronicle of Higher Education - "Proposed Code of Conduct at Stevens Institute Would Violate Academic Freedom, AAUP Says"    
6/12/2005 New York TImes - "In the Region - Sale of the Stevens Estate"
03/29/2005 Jersey Journal Editorial - "Stevens Should Open Up its Books"
03/29/2005 Jersey Journal - "Tech Wreck"
03/27/2005 Star-Ledger - "Growing Pains at Stevens"
03/04/2005 Chronicle of Higher Education - "Uneven Stevens"
2/18/2005 Stute - "Is the President's Salary Just?"  
2/11/2005 Stute - "Is Stevens Financially Secure?"  
06/18/2004 Chronicle of Higher Education - Bond Rating Press Release

You can download the free Adobe PDF Reader at:

Recent Stevens Tax Returns (IRS Form 990) in PDF Format:

bulletFiscal Year 2006 - July 1, 2005 to June 30, 2006 - Rec'd who knows when?
bulletFiscal Year 2005 - July 1, 2004 to June 30, 2005 - Rec'd May 15, 2006
bulletFiscal Year 2004  - July 1, 2003 to June 30, 2004 - Rec'd Sept 28, 2005
bulletFiscal Year 2003  - July 1, 2002 to June 30, 2003 - Rec'd Sept 28, 2005
bulletFiscal Year 2002  - July 1, 2001 to June 30, 2002 - Rec'd Feb 19, 2003
bulletFiscal Year 2001  - July 1, 2000 to June 30, 2001 - Rec'd July 20, 2002
bulletFiscal Year 2000  - July 1, 1999 to June 30, 2000 - Rec'd June 26, 2001


These 990's have been obtained from the Guidestar.org website.  Guidestar collects and posts the 990's for non-profit organizations as they are filed with the IRS and/or are directly provided to Guidestar.   According to the IRS rules posted on the Guidestar website concerning the submission deadlines for the 990:

bulletThe filing deadline for Form 990, 990-EZ, or 990-PF is "the 15th day of the 5th month after [an] organization's accounting period ends."  Thus, if a nonprofit's fiscal year ends on December 31, its 990 will be due May 15 of the following year.  If the fiscal year ends on June 30, the 990 due date is November 15.
bulletA nonprofit can get an automatic three-month extension by submitting Form 8868 to the IRS. The organization often can get another three-month extension by submitting a second Form 8868.
 

Accordingly, the Stevens situation is as follows as of 9/28/2005:

Fiscal Year/Period Original Due Date With 1st Extension With 2nd Extension Finally Received
FY 2003- July 1, 2002 to June 30, 2003 11/15/03 2/15/04 5/15/04 9/28/05
(16 months late)
FY 2004 - July 1, 2003 to June 30, 2004 11/15/04 2/15/05 5/15/05 9/28/05
(4 months late)

Recent Stevens Gifts and Pledges

bulletFiscal Year 2002 - From the Foundation Center Website

Financial Analyses/Summaries of Administrative Salary/Benefits (from IRS Form 990) in PDF Format:

bulletAdministrative Salaries
bulletAdministrative Salary Comparison
bulletLoans to Officers 
bulletRaveche Loans

Faculty Motions and Resolutions

Date Title PDF Format MS-Word Format
01/26/2005 Prof. Friedman's Motion for Independent Review of Stevens Finances and Administration

Raveche Soft-Money Political Contributions in PDF Format:

bullet2006 Election Cycle
bullet2004 Election Cycle 
bullet2002 Election Cycle 
bullet2000 Election Cycle
bullet1998 Election Cycle
bullet1996 Election Cycle
bullet1994 Election Cycle
bullet1992 Election Cycle
bullet1990 Election Cycle 

Stevens CFO, Stefano Falconi

bullet 04/06/2004 - Pittsburgh Business Times - "Carnegie Mellon finance chief resigns"
bullet01/27/2003 - Carnegie Mellon News - "Falconi Named VP, CFO"

 


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Last modified: 01/20/08