Arizona State University Foundation For A New American University
- Assets
- $1.9b
- Revenue
- $299.3m
- Investments
- $929.6m
- Employees
- 211
- Location
- Tempe, AZ
- Founding
- 05/1958
- Data as of
- 06/2023
- EIN
- 86-6051042
Organization Overview
Arizona State University Foundation For A New American University, operating under the name Asu Foundation, is located in Tempe, AZ. The organization was established in 1958. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2023, Asu Foundation employed 211 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asu Foundation 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 06/2023, Asu Foundation generated $299.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $173.5m during the year ending 06/2023. While expenses have increased by 5.6% per year over the past 8 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.
Since 2015, Asu Foundation has awarded 234 individual grants totaling $880,567,008. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ASU FOUNDATION FOR A NEW AMERICAN UNIVERSITY IS A PRIVATE, NONPROFIT ORGANIZATION THAT RAISES AND MANAGES PRIVATE CONTRIBUTIONS TO SUPPORT THE WORK OF ARIZONA STATE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH SUPPORT - THE ASU FOUNDATION PROVIDED MORE THAN $52 MILLION IN RESEARCH FUNDING FOR ASU. THE ASU FOUNDATION RECEIVED MORE THAN $46 MILLION OF CONTRIBUTIONS TO SUPPORT ASU RESEARCH IN INFORMATION PRIVACY AND SECURITY; SUPPLY CHAIN MANAGEMENT; ENVIRONMENT AND SUSTAINABILITY; EARLY CHILDHOOD EDUCATION AND OTHER AREAS.
THE ASU FOUNDATION PROVIDED OVER $26 MILLION TO SUPPORT THE EDUCATION, RESEARCH, PUBLIC SERVICE AND OTHER ACTIVITIES OF ARIZONA STATE UNIVERSITY. IN ADDITION TO THE MORE THAN $4 MILLION OF PROGRAM REVENUE, ASU FOUNDATION PROVIDED OVER $38 MILLION OF CONTRIBUTIONS IN SUPPORT OF THESE ACTIVITIES.
SPECIFIC UNIVERSITY PROGRAMS - THE ASU FOUNDATION PROVIDED MORE THAN $35 MILLION IN SUPPORT OF SUSTAINABILITY AND EDUCATION ACTIVITIES, ENTREPRENEURIAL ACTIVITIES, AND PROGRAMMING ACTIVITIES. ASU FOUNDATION RECEIVED OVER $25 MILLION IN CONTRIBUTIONS TO SUPPORT THESE ACTIVITIES.
STUDENT AND FACULTY SUPPORT - THE ASU FOUNDATION PROVIDED OVER $34 MILLION FOR ASU PROGRAMS THAT ASSIST UNDERGRADUATE AND GRADUATE STUDENTS.ASU FOUNDATION RECEIVED OVER $30 MILLION OF CONTRIBUTIONS TO SUPPORT FACULTY RECOGNITION AND PROFESSORSHIPS AND FOR STUDENT SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Dillon Director (asuf)/ceo (asuep) | Trustee | 1 | $0 |
Virginia E Desanto Vice President, CFO & Treasurer | OfficerTrustee | 10 | $0 |
Michael Aguirre Director (as Of 05/2023) | Trustee | 1 | $0 |
Lauren Bailey Director | Trustee | 2 | $0 |
Steve Betts Chair (ur) | Trustee | 1 | $0 |
Malissia Clinton Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blackrock Inc Outsourced Cio | 6/29/23 | $1,537,376 |
True Sense Marketing Inc Consulting | 6/29/23 | $717,118 |
Laurel Strategies Inc Consulting | 6/29/23 | $600,000 |
Nji Media Consulting | 6/29/23 | $288,238 |
Questex Llc Event Planning | 6/29/23 | $359,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $15,225,581 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $245,872,174 |
| Noncash contributions included in lines 1a–1f | $1,283,084 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $261,097,755 |
| Total Program Service Revenue | $1,014,067 |
| Investment income | $26,948,907 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,436 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,813,979 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $299,319,127 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $138,492,309 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $378,992 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $590,426 |
| Compensation of current officers, directors, key employees. | $118,085 |
| Compensation to disqualified persons | $270,843 |
| Other salaries and wages | $13,571,570 |
| Pension plan accruals and contributions | $831,433 |
| Other employee benefits | $1,782,549 |
| Payroll taxes | $990,497 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,474 |
| Fees for services: Accounting | $145,458 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,986,817 |
| Fees for services: Investment Management | $2,676,694 |
| Fees for services: Other | $2,558,979 |
| Advertising and promotion | $249,464 |
| Office expenses | $1,315,296 |
| Information technology | $42,117 |
| Royalties | $0 |
| Occupancy | $12,256 |
| Travel | $1,612,182 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $141,753 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $20,574 |
| All other expenses | $0 |
| Total functional expenses | $173,459,672 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,711,317 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $217,144,326 |
| Accounts receivable, net | $2,367,092 |
| 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 | $120,141 |
| Net Land, buildings, and equipment | $20,663,182 |
| Investments—publicly traded securities | $678,266,119 |
| Investments—other securities | $929,563,391 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,087,829 |
| Total assets | $1,879,923,397 |
| Accounts payable and accrued expenses | $4,478,549 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $26,119,181 |
| Escrow or custodial account liability | $460,874,418 |
| 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 | $5,147,273 |
| Total liabilities | $496,619,421 |
| Net assets without donor restrictions | -$1,804,299 |
| Net assets with donor restrictions | $1,385,108,275 |
| 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 | $1,879,923,397 |
Grants Awarded
Over the last fiscal year, Arizona State University Foundation For A New American University has awarded $138,289,754 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
ASU ENTERPRISE PARTNERS PURPOSE: PROGRAM SUPPORT | $2,923,297 |
ARIZONA STATE UNIVERSITY PURPOSE: PROGRAM SUPPORT | $131,853,175 |
EARTH SCHOOL EDUCATIONAL FOUNDATION PURPOSE: PROGRAM SUPPORT | $1,748,751 |
HAWAII MARINE EDUCATION AND RESEARCH CENTER PURPOSE: PROGRAM SUPPORT | $425,000 |
THE UNIVERISTY OF CONNECTICUT FOUNDATION PURPOSE: PROGRAM SUPPORT | $285,000 |
THUNDERBIRD SCHOOL OF GLOBAL MANAGEMENT PURPOSE: PROGRAM SUPPORT | $272,447 |