University Financial Investments

August 17, 2026

Dear Campus Community,

San José State University understands that world events often lead to questions about how university-affiliated organizations invest their funds. We appreciate that members of our campus community care deeply about these issues, and we are committed to sharing clear information about our investment practices.

The university and its auxiliary organizations have a responsibility to manage financial resources carefully and responsibly. These funds support student scholarships, research, student programs, and other priorities that help advance our educational mission. Our goal is to protect these resources so they continue to benefit current and future generations of Spartans.

Each auxiliary organization including the Tower Foundation, Research Foundation, Associated Students, and Student Union, is governed by its own board and follows California State University investment policies. Student representatives serve on these boards and help bring the student perspective to discussions and decisions.

Like many colleges and universities, our auxiliary organizations invest in diversified mutual funds and exchange-traded funds (ETFs). These investments spread funds across many companies and industries to reduce financial risk and support long-term stability. Because these funds are broadly diversified, they generally are not designed to include or exclude individual companies.

We know there are different views about socially responsible investing and divestment. We respect those perspectives and welcome thoughtful conversation. We also have a responsibility to make investment decisions that are consistent with our fiduciary obligations, university policies, and the long-term financial health of our institution.

Transparency is important. We are committed to providing information about how investments are managed, the policies that guide them, and the governance processes that oversee them. As information changes or policies are updated, we will continue to share those updates.

Our commitment is to be thoughtful stewards of the resources entrusted to us while supporting the university's mission of student success, academic excellence, and public service.

Sincerely,

Kathy Kaoudis
Vice President for Administration and Finance & Chief Financial Officer

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)

Student Union (SU) Inc.

Spartan Shops (SSI)