Arizona State University Foundation for a New American University

Arizona State University Foundation for A New American University Is

“REFERRED TO AS "ASUF" OR "THE FOUNDATION" IN THIS SCHEDULE Form 990, Part III, 4d: Other Program Services - All other program expenses support the education, research, public service and other activities of Arizona State University. Form 990, Part IV, Line 18 and Part V, Line 7a and 7b: ASUF conducts fundraising events for the benefit of Arizona State University (ASU). Event participants receive charitable gift receipts indicating the gross value of the goods received, the fair market value of benefits received by donor, and the net amount that may be considered a charitable contribution. Form 990, Part VI, Line 11b: ASUF's Form 990, Return of Organization Exempt From Income Tax, is prepared by an accounting firm. The draft is submitted to the ASU Foundation for review by management for accuracy of reporting. The board of directors has delegated review of the Form 990 to the Audit Committee. Management and a representative of the accounting firm review the Form 990 with the Audit Committee. Once approved and accepted by the Audit Committee, the form is signed by the CFO and submitted electronically to the IRS and the Board of Directors. Form 990, Part VI, 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 ASUF. 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 ASUF CFO. Form 990, Part VI, Line 15a: For ASUF, the Board of Directors approves the compensation package for the CEO based on current market comparisons provided by the foundation's Human Resources Department obtained from an independent compensation firm, responsibilites of the position, goals of the foundation and negotiations with the CEO. All other compensation decisions have been delegated to the CEO from the Board of Directors and a similar process is followed for obtaining CEO approval of key employees COMPENSATION. For Arizona Science and Technology Enterprises (AZTE), a single member limited liability company controlled by ASUF, the CEO's compensation contract was reviewed through general counsel of ASUF and CFO of ASU. It included a compensation comparison performed by a third party service provider and was approved by AZTE's Board of Directors. Form 990, Part VI, Line 19: The ASUF financial statements and Conflict of Interest Policy are available to the public on the organization's website. The organization's governing documents are not available to the public. Form 990, Part VII, Section B, Line 1 and Attachment 1: All of the legal services disclosed in attachment 1 were performed in support of AzTE's technology transfer services to the University and are not related to the primary fundraising services of the Foundation. Form 990, Part IX, Line 24d: In its effort to support ASU, the Foundation and Affiliates perform a broad scope of services that include: fundraising, investment management, technology transfer, advocacy, university branding and marketing, educational awareness, and property financing and management. Certain elements of management and general expenses are driven by the broad scope of the Foundation's role in support of ASU. The ASU Foundation's fundraising expenses support activities that generate contributions that go directly to entities other than itself, such as ASU and other ASU affiliates; thus, not all fundraising results generated through the Foundation's efforts are reflected in the contribution totals on the Foundation's 990. Form 990, Part XI, Line 9: Change in Assets due to Other Entities (17,456,651) Change in Value of Split Interest Agreements 331,685 Change in Value of Unrealized Swap 120,071 __________________ Total Other Changes in Net Assets (17,004,895)”