Asu Enterprise Partners

“FORM 990, PART VI, LINE 4 IN SEPTEMBER 2015, THE FOUNDATION'S BOARD OF DIRECTORS APPROVED A CORPORATE ENTITY RESTRUCTURE, WHERE A NEW ENTITY ASU ENTERPRISE PARTNERS (EP), WAS CREATED TO BE THE PARENT AND HOLDING COMPANY OF THE FOUNDATION AND FOUR OTHER AFFILIATED ORGANIZATIONS DESCRIBED FURTHER BELOW. EP BEGAN OPERATIONS ON JULY 1, 2016, AND IS THE SOLE MEMBER OF EACH OF THESE FIVE ENTITIES. EP IS AN ARIZONA NONPROFIT CORPORATION AND A 501(C)(3) TAX-EXEMPT ORGANIZATION. THE RESTRUCTURE WAS DESIGNED TO ENABLE THE VARIOUS ACTIVITIES OF THE Arizona State University Foundation for A New American University (ASUF or Foundation) TO HAVE BETTER FOCUS ON EACH ENTITY'S INDIVIDUAL ACTIVITIES AND TO BE STRUCTURED FOR EFFICIENT ON-BOARDING OF NEW INITIATIVES. ADDITIONALLY, THIS RESTRUCTURE IS INTENDED TO PROTECT THE PURITY OF PHILANTHROPHY AND ALLOW THE FOUNDATION TO MORE EASILY COMPARE ITSELF TO ITS PEERS. THIS CORPORATE RESTRUCTURE DID NOT ADD OR REMOVE ANY NET ASSETS FROM THE CONSOLIDATED VIEW OF THE FOUNDATION COMPARED TO THE CONSOLIDATED VIEW OF EP. EFFECTIVE JULY 1, 2016 THE FOUNDATION ASSIGNED ITS INTEREST IN VARIOUS ASSETS AND LIABILITIES TO EP OR TO AN AFFILIATE OF EP.”

“Form 990, part vi, section b, line 11b ep's form 990, return of organization exempt from income tax, is prepared by an outside accounting firm. The draft is submitted to ep's management for review and accuracy of reporting. The board of directors has delegated review of the form 990 to the audit committee. Management and a representative of the outside accounting firm review the form 990 with the audit committee. Once approved and accepted by the audit committee, the form 990 is signed by the cfo and submitted electronically to the irs and the board of directors.”

“Policy form 990, part vi, section b, line 12c upon hire and on an annual basis, officers, directors, trustees, and key employees are required to disclose any conflicts or potential conflicts relating to their involvement with ep. In addition, any time the individuals referred to above become aware of a new conflict, they are required to submit an updated conflict of interest/committment form to the ep cfo. Any identified conflicts would be reviewed by the board chair and the ceo to determine any mitigation actions needed.”

“Form 990, part vi, lines 15a and 15b for ep, the board of directors approves the compensation package for the president and ceo based on current market comparisons provided by ep's human resources department (which obtains this information from an independent compensation consultant), responsibilities of the position, goals of ep, and negotiations with the president and ceo. All other compensation decisions for key employees have been delegated from the board of directors to the president and ceo, who follows a similar process aforementioned.”

“FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS FOR EP ARE AVAILABLE Upon request. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST STATEMENT ARE NOT MADE AVAILABLE TO THE PUBLIC.”

“Form 990, Part XI, Line 9: Restructure Transfer $23,088,989 Change in unrealized swap value $2,962,780 Investment IN Brickyard and DC $3,695,014 UR and AzTE Beginning Net Assets $19,270,484 Program Rental Expenses $1,607,983 ------------ TOTAL $50,625,250”