Arizona State University Foundation for a New American University

Nonprofit profile at a glance

EIN
866051042
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Tempe, AZ, USA
Phone
4809653759
Rating
78
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Single Organization Support

Official website

Reported finances

Revenue
$452,595,918
Expenses
$235,333,977
Assets
$2,304,463,852
Liabilities
$584,223,120

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

33 people listed

Executive titles in this filing

  • GRETCHEN BUHLIG (CHIEF EXECUTIVE OFFICER ASUF)
  • MICHAEL M CROW (ASU PRESIDENT)
  • VIRGINIA DESANTO (VICE PRESIDENT, CFO & TREASURER)
  • ERIC SPICER (VICE PRESIDENT UNIT DEVELOPMENT)
  • CARLY NIERI (EXECUTIVE DIRECTOR OF DEVELOPMENT)
  • JACQUELINE SMITH (SENIOR VICE PRESIDENT)

Highest reported compensation

  • GRETCHEN BUHLIG (CHIEF EXECUTIVE OFFICER ASUF): $708,275 total reported compensation
  • JACQUELINE SMITH (SENIOR VICE PRESIDENT): $353,310 total reported compensation
  • CARLY NIERI (EXECUTIVE DIRECTOR OF DEVELOPMENT): $351,442 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2024

Research support - the asu foundation provided more than $81 million in research funding for asu. The asu foundation received more than $53 million of contributions to support asu research in information privacy and security; supply chain management; environment and sustainability; early childhood education, and other areas.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 93% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 76
  • Accountability: 98
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.8%; rating input score 56
  • Program expense ratio: 88.3%; rating input score 88
  • Fundraising efficiency: $14.22 raised per $1 spent on fundraising; rating input score 50; 50th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Limited
    • May require repayment: Limited
  • Grant itemization coverage: 99.9%; rating input score 100; 47th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 96%; rating input score 96; 50th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 48%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 9.79; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 9.3% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 8% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 55.8% of revenue deployed · 88.3% of spending went to programs
  • Governance: 24 of 25 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $207.8M in reported program spending
  • Leadership: top reported pay $708K · 33 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.9M reported
  • Consistency: 44 of 44 current checks pass
  • Schedules: 13 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 28 filed money-flow records
  • Related organizations: 30 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 50/100.