Arizona State University Research Park Inc
- Assets
- $67.7m
- Revenue
- $12.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Scottsdale, AZ
- Founding
- 03/1987
- Data as of
- 06/2022
- EIN
- 86-0488828
Organization Overview
Arizona State University Research Park Inc is located in Scottsdale, AZ. The organization was established in 1987. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arizona State University Research Park Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Arizona State University Research Park Inc generated $12.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $7.3m during the year ending 06/2022. While expenses have increased by 7.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE INTERESTS IN REAL PROPERTY AND SUPPORT RESEARCH ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RESEARCH PARK HAS 28 GROUND LEASES IN EFFECT, WITH A TOTAL OF 26 COMPLETED BUILDINGS. THE PARK HOUSES TENANTS ORIENTED TO EDUCATION, RESEARCH, AND MISCELLANEOUS OTHER BUSINESS ENDEAVORS.THE PARK IS 96% LEASED, WITH 5 ACRES REMAINING AVAILABLE FOR LEASE. REVENUES FROM THE RESEARCH PARK ARE USED BY ASU TO SUPPORT THAT INSTITUITION'S VARIOUS ACTIVITIES, INCLUDING RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Morgan Olsen President/director | OfficerTrustee | 1 | $0 |
Joanne Wamsley Secretary/treasurer | Officer | 1 | $0 |
Jose Cardenas Director (left 3/22) | Trustee | 1 | $0 |
Dr Kyle Squires Director | Trustee | 1 | $0 |
Roc Arnett Director | Trustee | 1 | $0 |
Lisa Loo Director (joined 4/22) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Siteworks Landscape Landscaping | 6/29/22 | $521,123 |
Ags Llc Personnel, Management And Accounting | 6/29/22 | $332,943 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $12,608,305 |
| Investment income | $2,188 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,610,493 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $150,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $285,650 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $74,518 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,726 |
| Office expenses | $3,298 |
| Information technology | $3,518 |
| Royalties | $0 |
| Occupancy | $5,642,454 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,699 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $398,519 |
| Insurance | $28,709 |
| All other expenses | $0 |
| Total functional expenses | $7,315,581 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,536,439 |
| Savings and temporary cash investments | $1,681,462 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $448,609 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $79 |
| Net Land, buildings, and equipment | $4,724,490 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $56,305,545 |
| Total assets | $67,696,624 |
| Accounts payable and accrued expenses | $145,005 |
| Grants payable | $0 |
| Deferred revenue | $12,935,366 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,575,743 |
| Total liabilities | $17,656,114 |
| Net assets without donor restrictions | $50,040,510 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $67,696,624 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California State University East Bay Foundation Inc Hayward, CA | $25,796,155 | $16,250,485 |
Campus Research Corporation Tucson, AZ | $42,821,356 | $14,706,755 |
Hsdl Llc Provo, UT | $2,946,169 | $10,965,696 |
Frank Lloyd Wright Foundation Scottsdale, AZ | $22,427,881 | $12,357,928 |
University Union Operation Of Ca State Univ Sacramento Sacramento, CA | $25,245,130 | $13,834,103 |
John Paul The Great Catholic University Escondido, CA | $9,814,132 | $8,425,507 |
San Francisco Bay University Fremont, CA | $295,269,122 | $7,298,553 |
Arizona State University Research Park Inc Scottsdale, AZ | $67,696,624 | $12,610,493 |
University Of The West Rosemead, CA | $35,930,246 | $8,666,423 |
Wave Enterprises Inc Malibu, CA | $44,595,796 | $15,038,830 |
South Baylo University Anaheim, CA | $11,124,164 | $3,345,995 |
Lincoln University Oakland, CA | $4,471,602 | $5,245,780 |