Arizona State University Foundation in Tempe, Arizona (AZ)

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Arizona State University Foundation
Employer Identification Number (EIN)866051042
Name of OrganizationArizona State University Foundation
Address300 E University Drive G, Tempe, AZ 85281-2061
ActivitiesOther school related activities, Gifts, grants, or loans to other organizations, Endowment fund or financial services
SubsectionEducational Organization
Ruling Date05/1958
DeductibilityContributions are deductible
FoundationOrganization which operates for benefit of college or university and is owned or operated by a governmental unit
Exempt Organization StatusUnconditional Exemption
Tax Period06/2008
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$776,050,445
Amount of Income$654,274,149
Form 990 Revenue Amount$155,749,573
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support

Amount of income in 2008: $654,274,149
This organization:  $654,274,149
Other organizations performing similar types of work:  $6,522,972

Assets in 2008: $776,050,445
This organization:  $776,050,445
Other organizations performing similar types of work:  $20,890,363

Expenses in 2006: $76,322,663
This organization:  $76,322,663
Other organizations performing similar types of work:  $2,785,653

Income to expenses ratio in 2006: 2.0
This organization:  2.0
Other organizations performing similar types of work:  1.5

Expenses allocated to program services in 2006: 70.4%
This organization:  70.4%
Other organizations performing similar types of work:  84.6%

Number of employees in 2006: 140
Arizona State University Foundation:  140
Other organizations performing similar types of work:  15

Employees paid over $50,000 in 2006: 42.9%
Arizona State University Foundation:  42.9%
Other organizations performing similar types of work:  20.6%

Grants share in income in 2006: 71.8%
This organization:  71.8%
Other organizations performing similar types of work:  50.2%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Expenses for 2006

Functional Expenses for 2006 ($)

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue$37,725,305$41,283,533$87,497,582$62,623,818$89,582,412$169,812,984$149,485,281
Contributions, gifts, grants, and similar amounts received$23,992,127$19,014,136$63,219,987$39,339,272$60,883,375$124,276,306$107,258,642
Contributions to donor advised funds$0
Direct public support$23,992,127$19,014,136$63,219,987$39,339,272$60,883,375$124,276,306$107,258,642
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$4,057,520$4,248,601$5,493,609$4,236,857$5,914,354$4,567,896$5,187,253
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$1,293,319$527,868$75,675$0$0$0$3,810,362
Dividends and interest from securities$4,717,995$5,648,449$5,724,865$5,137,891$6,731,322$11,493,340$11,876,810
Net rental income or (loss)$0$0$0$0$0$1,592,955$495,033
Gross rents$0$0$0$0$0$3,510,708$495,033
Less: rental expenses$0$0$0$0$0$1,917,753$0
Other investment income$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$50,395$4,801,356$5,334,510$6,377,171$3,511,170$7,946,986$5,008,394
Gross amount from sales of assets other than inventory$50,395$14,104,885$9,607,157$197,791,391$268,342,015$312,792,919$338,756,600
Less: cost or other basis and sales expenses$0$9,303,529$4,272,647$191,414,220$264,830,845$304,845,933$333,748,206
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$3,613,949$7,043,123$7,648,936$7,532,627$12,542,191$19,935,501$15,848,787
Total expenses$33,520,277$33,079,947$42,235,113$41,429,299$56,730,777$74,245,028$76,322,663
Program services$27,704,798$26,118,244$33,712,956$32,998,488$46,173,805$47,667,512$53,704,452
Management and general$3,321,512$4,735,738$3,277,103$3,351,380$6,205,773$20,891,513$15,154,958
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$226,481,264$214,510,856$252,814,669$283,010,826$323,022,047$443,784,562$551,925,775
Excess or (deficit) for the year$4,205,028$8,203,586$45,262,469$21,194,519$32,851,635$95,567,956$73,162,618
Net assets or fund balances at beginning of year$241,018,366$226,481,264$214,510,856$252,814,669$283,010,826$323,022,047$443,784,562
Other changes in net assets or fund balances$-18,742,130$-20,173,994$-6,958,656$9,001,638$7,159,586$25,194,559$34,978,595
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$76,322,663$53,704,452$15,154,958$7,463,253
Grants paid from donor advised funds$0
Other grants and allocations$32,840,292
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$552,754$0$283,292$269,462
Compensation of former officers, directors, key employees, etc.$438,735$0$438,735$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$10,420,662$1,995,424$4,166,244$4,258,994
Pension plan contributions not included above$505,358$71,398$401,265$32,695
Employee benefits not included above$1,731,635$115,503$524,995$1,091,137
Payroll taxes$783,831$80,381$703,450$0
Professional fundraising fees$271,909$0$0$271,909
Accounting fees$113,858$0$113,858$0
Legal fees$2,019,962$1,629,581$385,705$4,676
Postage and shipping$41,419$25,365$8,106$7,948
Equipment rental and maintenance$0$0$0$0
Printing and publications$657,925$336,949$52,429$268,547
Conferences, conventions, and meetings$209,617$132,743$36,555$40,319
Depreciation, depletion, etc.$875,759$457,123$418,636$0
Other expenses not covered above$16,775,530$11,252,456$4,735,548$787,526
Balance Sheets
Total assets$240,958,160$227,593,789$313,337,649$390,104,530$506,084,767$630,911,482$764,707,938
Cash - non-interest-bearing$1,053,658$2,347,628$1,283,511$2,739,652$1,072,111$1,450,577$2,203,239
Savings and temporary cash investments$884,157$1,930,907$10,760,908$19,693,494$30,248,101$34,918,773$22,253,489
Accounts receivable less allowance for doubtful accounts$1,207,556$893,965$1,577,109$2,260,998$627,183$1,203,816$871,410
Pledges receivable less allowance for doubtful accounts$41,386,375$28,738,453$59,234,613$50,615,947$46,218,023$64,906,512$109,569,833
Grants receivable$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$473,993$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0
Investments - publicly-traded securities$485,994,684
Investments - other securities$182,800,862$180,840,735$180,373,031$288,657,357$298,181,363$395,613,553$7,898,819
Investments - land, buildings, and equipment less accumulated depreciation$10,006,976$7,734,081$8,245,086$6,046,586$51,053,896$55,370,684$58,295,247
Investments - other$2,850,220$4,338,805$49,891,116$1,433,742$55,513,099$54,210,442$2,514
Land, buildings, and equipment less accumulated depreciation$768,356$769,215$782,985$15,878,141$16,690,641$18,062,546$20,198,243
Other assets, including program-related investments$0$0$1,189,290$2,304,620$6,480,350$5,174,579$57,420,460
Total liabilities$14,476,896$13,082,933$60,522,980$107,093,704$183,062,720$187,126,920$212,782,163
Accounts payable and accrued expenses$6,139,812$529,969$1,927,743$8,424,045$3,612,380$5,447,478$6,475,098
Grants payable$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$30,879,606$29,609,280$28,050,939
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$47,600,000$70,020,000$70,020,000$72,820,128
Mortgages and other notes payable$0$0$0$0$12,075,000$11,690,000$12,275,000
Other liabilities$8,337,084$12,552,964$58,595,237$51,069,659$66,475,734$70,360,162$93,160,998
Total liabilities and net assets/fund balances$240,958,160$227,593,789$313,337,649$390,104,530$506,084,767$630,911,482$764,707,938
Total net assets or fund balances$226,481,264$214,510,856$252,814,669$283,010,826$323,022,047$443,784,562$551,925,775
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue$37,725,305$41,283,533$87,497,582$62,623,818$89,582,412$169,812,984$149,485,281
Total revenue, gains, and other support per audited financial statements$17,895,105$20,790,075$76,914,832$71,239,531$100,855,449$184,776,090$181,696,365
Other expenses$-18,912,758$-20,493,458$-10,582,750$9,001,638$11,756,952$21,731,016$35,570,525
Net unrealized gains on investments$-18,742,130$-20,173,994$-6,958,656$10,011,431$10,859,789$21,731,016$35,009,448
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other revenue$917,442$0$0$385,925$483,915$6,767,910$3,359,441
Investment expenses$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses$33,520,277$33,079,947$42,235,113$41,429,299$56,730,777$74,245,028$76,322,663
Total expenses and losses per audited financial statements$33,349,649$32,760,483$38,611,019$41,043,374$56,246,862$67,477,118$72,963,222
Other revenue$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Other expenses$170,628$319,464$3,624,094$385,925$483,915$6,767,910$3,359,441
Investment expenses$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings14
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006140
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Program service revenue
Program service revenue 1000000$000$0$2,728,405
Program service revenue 2Advertising and related services$4,15000$0$2,454,698
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$3,810,362$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$11,876,810$0
Net rental income or (loss) from real estate
debt-financed property000000$0Income exempt from debt-financed (section 514) provisions because at least 85% of the use of the property is for the organization's exempt purposes (Note: This code is only for income from the 15% or less non-exempt purpose use.) (section 514(b)(1)(A))$495,033$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$5,008,394$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$15,848,787
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
Total number of other employees paid over $50,00052
Statements About Activities (for 2006)
Expenses paid or incurred in connection with the lobbying activities$115,500
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization operated for the benefit of a college or university
Support Schedule
Gifts, grants, and contributions received$27,678,292$24,165,837$20,825,745$32,723,827$47,957,938$65,281,299$105,587,817
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$2,131,425$4,057,520$4,248,601$4,810,465$3,552,968$7,557,469$7,567,661
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$5,910,387$6,011,314$6,176,317$5,800,540$4,978,900$37,769,919$10,223,014
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$5,521,392$3,613,949$4,838,131$7,648,936$7,532,627$12,542,191$19,935,501
Lobbying Expenditures by Electing Public Charities (for 2006)
Total exempt purpose expenditures$76,322,663
Total lobbying expenditures$115,500
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$115,500
Other exempt purpose expenditures$76,207,163
Lobbying nontaxable amount$1,000,000
Grassroots nontaxable amount$250,000
Unrelated Trade or Business Income (for 2008)
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$-109,275$0$-109,275
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$2,700$0$2,700
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$45
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Taxes and licenses$0
Charitable contributions$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$-106,620
Unrelated business taxable income before net operating loss deduction$-106,620
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-106,620
Specific deduction$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Harvard Management Private Equity Corporation600 Atlantic Ave, Boston, MA 02210-2211MA1991-03$7,483,676,897
2Gothic Corporation406 Blackwell St Ste 300, Durham, NC 27701-3984NC1993-09$2,639,466,817
3University Of Wisconsin Foundation1848 University Ave, Madison, WI 53726-4090WI1948-10$2,562,741,914
4Arizona State University Foundation300 E University Drive G, Tempe, AZ 85281-2061AZ1958-05$654,274,149
5Ball State University Foundation2800 W Bethel Ave, Muncie, IN 47304IN1953-10$205,397,404
6University Of Arizona Foundation1111 N Cherry Ave, Tucson, AZ 85721-0111AZ1962-04$138,483,487
7Colorado State University FoundationPO BOX 1870, Fort Collins, CO 80522CO1971-02$96,333,754
8Associated Students Ucla, Payroll Manager308 Westwood Plaza Rm 219 Kh, Los Angeles, CA 90024CA1945-10$89,686,006
9Colorado School Of Mines Foundation Inc923 16th Street, Golden, CO 80401CO1960-03$76,060,536
10Cal Poly Pomona Foundation Inc3801 W Temple Avenue Bldg 55, Pornona, CA 91768-2557CA1966-07$65,991,838
11Csu Fullerton Auxiliary Services Corporation2600 Nutwood Ave Ste 275, Fullerton, CA 92831-3137CA1961-08$53,501,678
12Northern Arizona University Fdn IncPO BOX 4094, Flagstaff, AZ 86011-0001AZ1965-02$52,464,038
13Archdiocesan Educational Fund300 Conshohocken State Rd Ste 100, Conshohocken, PA 19428-3814PA1946-03$48,598,594
14Catholic Foundation For The Roman Catholic Church In Northern Co3801 E Florida Ave Ste 725, Denver, CO 80210-2543CO1946-03$46,519,252
15Appalachian State University Foundation IncAsu Box 32064, Boone, NC 28608-0001NC1971-03$34,126,853
16Csula Auxiliary Services Inc5151 St University Dr Ge Bl314, Los Angeles, CA 90032CA1986-08$33,368,872
17Clark Community College District 14 Foundation1933 Fort Vancouver Way, Vancouver, WA 98663-3501WA1973-10$31,774,635
18Auxiliary Services Corporation Of Suny CortlandWinchell Hall, Cortland, NY 13045NY1956-11$23,467,991
19Duke University Special Ventures Fund Inc406 Blackwell St Ste 300, Durham, NC 27701-3984NC1986-06$19,509,996
20Clementine Lockwood Peterson Foundation, Tuthill H S Donohue A Et Al TteesPO BOX 120, Stamford, CT 06904-0120CT1993-11$15,995,901
21Law College Association Of The University Of ArizonaPO BOX 210176, Tucson, AZ 85721AZ1968-03$11,827,955
22Allan Hancock College Auxiliary Programs Corporation800 S College Drive, Santa Maria, CA 93454CA1972-07$6,815,816
23American University Of Armenia Corporation300 Lakeside Dr 5th Fl, Oakland, CA 94612-3534CA1991-11$6,000,778
24College Association Of The Niagara County Community College Inc3111 Saunders Settlement Road, Sanborn, NY 14132NY1965-03$5,187,282
25College Of Charleston Foundation66 George Street, Charleston, SC 29424-0001SC1971-02$4,856,006
26Clemson University Continuing Educ And Conference Complex Corporation100 Madren Center Dr, Clemson, SC 29634-0001SC1995-12$3,955,032
27Cathedral High School Education Foundation, CathPO BOX 1579, St Cloud, MN 56302-1579MN1980-10$3,113,800
28Cooper-Hansen FoundationPO BOX 53456, Phoenix, AZ 85072-3456AZ2000-04$3,100,384
29H A And Edna Benning Charitable Endowment FundPO BOX 53456, Phoenix, AZ 85072-3456AZ1992-05$2,054,708
30Elizabeth Cassidy Trust UwPO BOX 53456, Phoenix, AZ 85072-3456AZ1970-12$389,237
Number of organizations performing similar types of work
District of Columbia4
North Carolina27
North Dakota4
New Hampshire2
New Jersey12
New Mexico6
New York44
Rhode Island6
South Carolina9
South Dakota2
West Virginia6
Total716 is not associated with, endorsed by, or sponsored by Arizona State University Foundation and has no official or unofficial affiliation with Arizona State University Foundation