Asu Enterprise Partners

“Significant changes to organizational documents on april 30, 2021 the asu enterprise partners board of directors approved amendments to its bylaws that reduced the maximum number of directors from twenty-five (25) to eleven (11), increased the number of asu presidential appointees to the board from two (2) to three (3); eliminated the executive committee and the investment committee as standings committee of the board.”

“Form 990 review process 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, a full copy of the form 990 is provided to the entire board of directors. It is then signed by the cfo and submitted electronically to the irs and board of directors.”

“Process for monitoring and enforcement of conflict of interest policy upon hire and on an annual basis, all employees and board members 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/commitment form to the ep's general counsel. Any identified conflicts would be reviewed by the board chair and the ceo to determine any mitigation actions needed.”

“Process for establishing compensation of president/ceo and key employees 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.”

“Documents made available to the public 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.”

“Organization's mission asu enterprise partners serves as the resource-raising arm of arizona state university. As the parent organization of five nonprofits that are each tasked with identifying new revenue opportunities, asu enterprise partners represents a highly efficient model for diversified revenue generation. Through its nonprofits, asu enterprise partners invests in initiatives and partnership opportunities that provide resources to arizona state university.”

“Program service activity #1 ep through its subsidiary university realty aims to advance asu by accepting and monetizing commercial office, retail, multifamily buildings, as well as vacant land received from philanthropic real estate gifts from donors. Additionally, they take advantage of opportunities to invest, acquire, and dispose of real estate at logical points in real estate cycles. University realty provides full service, ground-up development including acquisitions and entitlements of land, master-planning and building design, construction, and financing of office, industrial, and multi-family projects. Currently, the organization holds $78.5 million in land and building investments. University realty oversees projects nationwide, from skysong in scottsdale, to the brickyard in tempe, to the washington center in the heart of the district of columbia.”

“Program service activity #2 asu enterprise partners ("ep") through its subsidiary skysong innovations works with asu faculty, postdocs, and students to translate their research innovations into commercial applications. To date, more than 160 startups have been launched based on asu innovations, attracting more than $833 million in funding from outside investors, generating substantial local economic impact. The national academy of inventors and the intellectual property owners association now ranks asu 11th in u.s. Utility patents granted to universities worldwide. Other universities ranked alongside asu in the top 20 include mit, stanford university, johns hopkins university, harvard and the california institute of technology. Skysong innovations also operates an office out of the asu california center in santa monica, facilitating linkages between the arizona and southern california innovation ecosystems, including connecting asu inventors with california-based investors.”

“Program service activity #3 other program service revenue.”

“Change in unrealized swap value 2,022,609.”