2026-05-12T18:37:39-05:00 2025-06-30 333709623 COHNREZNICK ADVISORY LLC 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2024-07-01 941392424 SPARTAN SHOPS INC SPAR 4089241901 ONE WASHINGTON SQUARE SAN JOSE CA 95192 SARA BONAKDER EXECUTIVE OFFICER 4089241901 2026-05-10 1 1 JOLANTA TUCK P01340068 7813803520 2026-05-06 2024 2025-03-06 01:10:19Z SARA BONAKDER ONE WASHINGTON SQUARE SAN JOSE CA 95192 5355963 0 X SJSU.EDU/FABS/SERVICES/COMMERCIAL/SHOPS.PHP X 1956 CA TO PROVIDE AND MANAGE A CAMPUS BOOKSTORE, DINING SERVICES AND REAL ESTATE FOR SJSU. 5 2 0 2 0 0 10000 10000 3517354 5043048 256949 294188 47629 8727 3831932 5355963 151748 0 0 0 0 0 0 0 0 4442663 4441085 4594411 4441085 -762479 914878 17682112 21795752 18821221 21903103 -1139109 -107351 X THE ORGANIZATION'S MISSION IS TO PROVIDE AND MANAGE THE CAMPUS BOOKSTORE, DINING SERVICES AND CERTAIN REAL ESTATE PROPERTIES. SPARTAN SHOPS HAS AN AGREEMENT WITH BARNES & NOBLE COLLEGE BOOKSELLERS ("BARNES & NOBLE") FOR THE DAILY OPERATION OF THE SPARTAN BOOKSTORE AND WITH CHARTWELLS HIGHER EDUCATION ("CHARTWELLS") TO PROVIDE ALL DINING SERVICES TO THE SAN JOSE STATE UNIVERSITY ("SJSU") CAMPUS. SPARTAN SHOPS HOLDS AND ADMINISTERS ASSETS FOR THE ORGANIZATION'S OTHER POST-EMPLOYMENT BENEFITS ("OPEB") PLAN IN A FIDUCIARY FUND. 0 0 2933994 4018240 SPARTAN SHOPS ENTERED INTO AN AGREEMENT WITH CHARTWELLS HIGHER EDUCATION ("CHARTWELLS"), A DIVISION OF COMPASS GROUP USA, INC., TO MANAGE ALL FOOD PREPARATION AND SERVICE PROGRAMS ON BEHALF OF SJSU. THEREFORE, CHARTWELLS HAS SERVED AS SJSU'S EXCLUSIVE FOOD SERVICE PROVIDER SINCE 2018. AS PART OF THIS AGREEMENT, CHARTWELLS PROVIDES RESIDENTIAL DINING SERVICES IN OUR DINING COMMONS, A FOOD COURT AND RETAIL WITHIN THE DIAZ COMPEAN STUDENT UNION, TWO MARKETS, CONCESSIONS IN THE PROVIDENT CREDIT UNION EVENT CENTER AND SOUTH CAMPUS ATHLETICS FACILITIES, AS WELL AS CATERING ON THE MAIN CAMPUS, SOUTH CAMPUS, AND THE HAMMER THEATRE. 353287 391733 PROVIDE HOUSING SERVICES FOR THE BENEFIT AND CONVENIENCE OF THE UNIVERSITY COMMUNITY. WE OWN AND OFFER 13 BELOW MARKET RATE RENTAL HOUSING UNITS FOR FACULTY AND STAFF. 134354 633143 MANAGE SPARTAN BOOKSTORE. SPARTAN BOOKSTORE PROVIDES COURSE MATERIALS, ELECTRONIC GOODS, RETAIL MERCHANDISE, UNIVERSITY BRANDED GOODS AND SCHOOL SUPPLIES TO THE SJSU CAMPUS COMMUNITY. 3421635 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 2 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 CA X X VIET ANH BUI 4089241901 ONE WASHINGTON SQUARE SAN JOSE CA 95192 ARIANA LACSON DIRECTOR 0.10 0.00 X 0 0 0 BILL CAMPSEY SECRETARY AND TREASURER 0.10 39.90 X X 0 65051 0 CHARLIE FAAS PRESIDENT/INTERIM BOARD CHAIR 0.10 39.90 X X 0 315682 81777 JULIE STONE DIRECTOR 0.10 0.00 X 0 0 0 MARI FUENTES-MARTIN DIRECTOR 0.10 0.00 X 0 256812 73909 0 637545 155686 0 0 1 0 0 10000 10000 DINING SERVICES 722514 3500887 3500887 BOOKSTORE COMMISSIONS 459210 533143 533143 DINING CAPITAL INVESTM 722514 517285 517285 RENTAL REVENUE 531110 391733 391733 BOOKSTORE CAPITAL INVE 459210 100000 100000 5043048 294188 294188 INTEREST INCOME FROM N 900099 8659 8659 68 68 8727 5355963 5043116 0 302847 20275 20275 456920 456920 241168 241168 240 240 23903 19048 4855 313733 313733 2301466 2301466 1001273 1001273 74304 72328 1976 TAXES AND LICENSES 7803 7005 798 4441085 3421635 1019450 0 529388 980778 1233099 1327038 365696 3792150 183529 191972 22156331 11908146 10427703 10248185 4034478 4209242 908219 1046387 17682112 21795752 147880 81082 16534434 19576283 29472 27096 2109435 2218642 18821221 21903103 X 0 0 0 0 -1139109 -107351 -1139109 -107351 17682112 21795752 X 914878 -29 116909 X 0 1 X 1 0 X X X 1 SAN JOSE STATE UNIVERSITY 770414038 6 1 0 3421635 1 0 3421635 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 SCHEDULE A, PART I, LINE 12G, COLUMN (VI) SPARTAN SHOPS' PRIMARY EXEMPT MISSION IS TO PROVIDE AND MANAGE A CAMPUS BOOKSTORE, DINING SERVICES, AND REAL ESTATE FOR SAN JOSE STATE UNIVERSITY. ALL EXPENDITURES INCURRED IN PURSUIT OF ITS EXEMPT MISSION AND PROGRAMS ARE DEEMED "OTHER SUPPORT" FOR PURPOSES OF SCHEDULE A, PART I, LINE 12G, COLUMN (VI). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 2310000 2310000 1763726 1406677 357049 9434614 3508327 5926287 8499681 6873105 1626576 148310 120037 28273 10248185 MEAL PLAN DEPOSITS 258119 DUE TO RELATED PARTY 1855427 OPEB DEFERRED INFLOWS 105096 2218642 5355934 -29 -29 5355963 0 5355963 4324176 -116909 -116909 4441085 0 4441085 PART IV, LINE 2B: THE ESCROW LIABILITY AMOUNTS ON FORM 990, PART X, LINE 21 CONSIST OF TENANT SECURITY DEPOSITS. THE DEPOSITS ARE REFUNDED TO THE TENANT UPON TERMINATION OF THE LEASE. PART XII, LINE 2D - OTHER ADJUSTMENTS: OTHER POST-EMPLOYMENT BENEFITS EXPENSE -116,909. 0 0 0 0 0 0 0 0 0 CHARLIE FAAS PRESIDENT/INTERIM BOARD CHAIR 0 315682 0 0 0 0 0 48463 0 33314 0 397459 0 0 MARI FUENTES-MARTIN DIRECTOR 0 238412 0 10000 0 8400 0 47581 0 26328 0 330721 0 0 PART I, LINE 3 THE ORGANIZATION'S PRESIDENT IS COMPENSATED BY SAN JOSE STATE UNIVERSITY (SJSU), A RELATED ORGANIZATION. SJSU ESTABLISHES THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT BASED ON GUIDELINES OF THE UNIVERSITY AND THROUGH THE USE OF A COMPENSATION SURVEY OR STUDY. FORM 990, PART VI, SECTION A, LINE 3 IN MARCH 2011, SPARTAN SHOPS ENTERED INTO AN AGREEMENT WITH BARNES & NOBLE FOR THE MANAGEMENT OF THE DAILY OPERATIONS OF THE SPARTAN BOOKSTORE FOR A PERIOD OF 10 YEARS. SPARTAN SHOPS EXTENDED THEIR AGREEMENT WITH BARNES & NOBLE FROM JULY 1, 2021, TO JUNE 30, 2026, IN JULY 2015. UNDER THE EXTENDED AGREEMENT AND SUBSEQUENT AMENDMENT EXECUTED IN DECEMBER OF 2018, THE COMMISSION PAYMENT IS 12% OF ALL GROSS SALES, UP TO $10 MILLION AND 13% OF ALL GROSS SALES OVER $10 MILLION PER YEAR AND 7% OF ALL GROSS SALES OF FIRST DAY AND ETEXTBOOKS. THE MINIMUM ANNUAL GUARANTEE WILL BE AN AMOUNT EQUAL TO 90% OF THE CALCULATED COMMISSIONS FOR THE PRIOR CONTRACT YEAR. SPARTAN SHOPS RECEIVED $533,143 IN COMMISSIONS FROM BARNES & NOBLE FOR FISCAL YEAR ENDED JUNE 30, 2025. SPARTAN SHOPS ENTERED INTO AN AGREEMENT WITH CHARTWELLS, A DIVISION OF COMPASS GROUP USA, TO PROVIDE THE ENTIRETY OF THE FOOD SERVICE PROGRAMMING ON THE SJSU CAMPUS. THIS INCLUDES CATERING, FOOD VENDING, RESIDENTIAL DINING, CONCESSIONS AND/OR ALL FOOD PREPARATION, SERVING DINING AND STORAGE ON THE MAIN AND SOUTH CAMPUS, AS WELL AS CATERING SERVICES TO OUR OFFSITE HAMMER THEATRE. THE AGREEMENT IS EFFECTIVE FROM JULY 5, 2018 THROUGH JUNE 30, 2038. FOR THE PERIOD FROM JULY 2018 THROUGH JUNE 30, 2022, SPARTAN SHOPS RETAINED ALL REVENUE FROM OPERATION AND REIMBURSED CHARTWELLS FOR THE COST OF BUSINESS (REFERRED TO AS A COST OF BUSINESS MODEL). COST OF BUSINESS INCLUDED ALL CHARTWELLS' LABOR, COST OF ALL PRODUCTS, MERCHANDISE, MATERIALS, SUPPLIES, AND THE COST OF ALL OTHER OPERATING EXPENSES INCLUDING DEPRECIATION FOR THE FIRST THREE YEARS AND EXCLUDING DEPRECIATION FOR YEAR FOUR. MANAGEMENT FEE OF $400,000 WAS PAID ON YEAR TWO AND YEAR THREE ONLY. EFFECTIVE JULY 1, 2022, THE SERVICES TRANSITIONED FROM A COST OF BUSINESS MODEL TO A PROFIT LOSS BASIS. CHARTWELLS THEN BEGAN PAYING COMMISSIONS TO SPARTAN SHOPS BASED ON GROSS SALES IN ACCORDANCE WITH THE ESTABLISHED COMMISSION RATES. SPARTAN SHOPS RECEIVED $2,221,121 IN COMMISSION FROM CHARTWELLS FOR THE FISCAL YEAR ENDED JUNE 30, 2025. CHARTWELLS IS COMMITTED TO FUND AN INVESTMENT IN SPARTAN SHOPS' DINING PROGRAM THROUGH JUNE 30, 2042. FORM 990, PART VI, SECTION A, LINE 7A THE SPARTAN SHOPS BOARD OF DIRECTORS RECOMMENDS A STAFF MEMBER AT SAN JOSE STATE UNIVERSITY ("SJSU") TO BE A VOTING MEMBER OF THE BOARD OF DIRECTORS. THE PRESIDENT OF SJSU WILL APPROVE THE STAFF MEMBER'S APPOINTMENT AS A MEMBER OF THE BOARD OF DIRECTORS. THE PRESIDENT OF SJSU ALSO APPOINTS ONE COMMUNITY MEMBER AND TWO FACULTY MEMBERS TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B IT IS THE RESPONSIBILITY OF THE PRESIDENT OF SJSU TO REVIEW AND APPROVE SPARTAN SHOPS' PROGRAMS AND BUDGETS AND ENSURE IT CONFORMS TO THE POLICY OF THE BOARD OF TRUSTEES OF THE SAN JOSE STATE UNIVERSITY. THE BYLAWS MAY BE AMENDED BY THE BOARD OF DIRECTORS THROUGH A MAJORITY VOTE BUT THE FINAL DECISION IS SUBJECT TO THE WRITTEN APPROVAL OF THE PRESIDENT OF SJSU. FORM 990, PART VI, SECTION B, LINE 11B COHNREZNICK, A PROFESSIONAL PUBLIC ACCOUNTING FIRM, AND SPARTAN SHOPS' FINANCE STAFF WORK TOGETHER TO GATHER THE REQUIRED TAX INFORMATION NECESSARY TO COMPLETE THE TAX RETURNS. THE INITIAL DRAFT RETURN IS REVIEWED BY COHNREZNICK. THE BOARD HAS DELEGATED THE REVIEW OF THE TAX RETURN TO SPARTAN SHOPS' FINANCE STAFF AFTER THE COMPLETION AND INITIAL REVIEW BY COHNREZNICK. SPARTAN SHOPS INTERIM BOARD CHAIR COMPLETES THE FINAL REVIEW OF THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS ESTABLISHED A POLICY THAT DEFINES CONFLICT OF INTEREST FOR BOTH BOARD MEMBERS AND EMPLOYEES AND STATES COMPANY BUYING ETHICS AND A GENERAL CODE OF ETHICS. AT THE BEGINNING OF EACH SEMESTER, QUESTIONNAIRES ARE GIVEN TO ALL BOARD MEMBERS TO DETERMINE IF A CONFLICT OF INTEREST STATUS HAS CHANGED. THE QUESTIONNAIRES ARE REVIEWED BY THE INTERIM BOARD CHAIR AND THE BOARD STAFF REPRESENTATIVE FOR ACCURACY AND COMPLETENESS. ANY CONFLICTS OR ISSUES WOULD BE REVIEWED AND DISCUSSED WITH THE APPROPRIATE BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S PRESIDENT IS COMPENSATED BY SAN JOSE STATE UNIVERSITY (SJSU), A RELATED ORGANIZATION. SJSU ESTABLISHES THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT BASED ON GUIDELINES OF THE UNIVERSITY AND THROUGH THE USE OF A COMPENSATION SURVEY OR STUDY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST, AND POSTS ITS FINANCIAL STATEMENTS ON ITS WEBSITE. FORM 990, PART XI, LINE 9: OTHER POST-EMPLOYMENT BENEFITS EXPENSE 116,909. SAN JOSE STATE UNIVERSITY RESEARCH FOUNDATION ONE WASHINGTON SQUARE SAN JOSE CA 95172 946017638 FINANCIAL ASSISTANCE CA 501(C)(3) LINE 7 SAN JOSE STATE UNIVERSITY 0 SAN JOSE STATE UNIVERSITY TOWER FOUNDATION ONE WASHINGTON SQUARE SAN JOSE CA 95192 830403915 FINANCIAL ASSISTANCE CA 501(C)(3) LINE 7 SAN JOSE STATE UNIVERSITY 0 SAN JOSE STATE UNIVERSITY ONE WASHINGTON SQUARE SAN JOSE CA 95192 770414038 EDUCATION INSTITUTE CA 115 N/A 0 SAN JOSE STATE UNIVERSITY STUDENT UNION ONE WASHINGTON SQUARE SAN JOSE CA 95192 942830732 AUXILIARY SERVICES CA 501(C)(3) LINE 12C, III-FI SAN JOSE STATE UNIVERSITY 0 SAN JOSE STATE UNIVERSITY ASSOCIATED STUDENTS ONE WASHINGTON SQUARE SAN JOSE CA 95192 941156305 AUXILIARY SERVICES CA 501(C)(3) LINE 5 SAN JOSE STATE UNIVERSITY 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 1 0 1 0 0