2023-04-20T09:52:11-05:00 2022-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2021-07-01 475599177 ASU ENTERPRISE PARTNERS ASUE 4809653759 PO BOX 2260 TEMPE AZ 852802260 VIRGINIA E DESANTO VP/TREASURER/CFO 4809651791 2023-04-20 1 VIRGINIA DESANTO XXX-XX-XXXX DANIEL ROMANO P00504182 2125990100 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z DAN DILLON PO BOX 2260 TEMPE AZ 852802260 354704354 0 X WWW.ASUENTERPRISEPARTNERS.ORG X 2015 AZ SEE SCHEDULE O 12 9 177 11 0 0 13416747 5357054 3963907 2377886 5269732 11202264 5944241 5050195 28594627 23987399 2977733 13683498 0 0 3758686 5492746 0 0 149637 11801714 10367155 18538133 29543399 10056494 -5556000 301976784 381094670 165964290 175151706 136012494 205942964 X SEE SCHEDULE O 0 0 6297282 677141 2111338 SEE SCHEDULE OPROGRAM SERVICE ACTIVITY #1EP 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 $79.4 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. 1009228 6000 1790558 SEE SCHEDULE OPROGRAM SERVICE ACTIVITY #2EP 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 8TH 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. 16137007 13000357 3150805 SEE SCHEDULE OPROGRAM SERVICE ACTIVITY #3EP MANAGES INVESTMENT POOLS AND PROGRAMS THAT GENERATE REVENUE THROUGH INVESTMENTS IN EDUCATION TECHNOLOGY COMPANIES AND AN ANGEL INVESTOR MEMBERSHIP PROGRAM TO ADVANCE ASU-AFFILIATED STARTUPS. 23443517 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 101 0 1 177 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 12 9 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 AZ X VIRGINIA E DESANTO 4809651791 300 E UNIVERSITY DRIVE TEMPE AZ 85281 DANIEL DILLON PRESIDENT AND CEO 47.00 3.00 X X 761014 0 69086 GRETCHEN BUHLIG DIRECTOR & CEO (ASUF) 1.00 49.00 X 0 536545 62027 VIRGINIA DESANTO VICE PRESIDENT, CFO & TREASURER 38.00 12.00 X X 280300 0 34890 STEVE BETTS CHAIR (UR) 1.00 1.00 X 0 0 0 JOSE CARDENAS DIRECTOR (TO 5/24/22) 1.00 1.00 X 0 0 0 MICHAEL CROW ASU PRESIDENT 1.00 1.00 X 0 0 0 NITA FRANCIS VICE CHAIR (EP AND ASUF BOD) 1.00 1.00 X 0 0 0 JOHN GRAHAM DIRECTOR & CHAIR (ASUF) 1.00 1.00 X 0 0 0 CHRIS HOWARD DIRECTOR 1.00 1.00 X 0 0 0 LISA LOO DIRECTOR 1.00 1.00 X 0 0 0 ANNE MARIUCCI DIRECTOR 1.00 1.00 X 0 0 0 JIM O'BRIEN DIRECTOR (TO 5/24/22) 1.00 2.00 X 0 0 0 MORGAN OLSEN VICE CHAIR (IC) 2.00 1.00 X 0 0 0 WILLIAM POST CHAIR 1.00 1.00 X 0 0 0 HOPE SHARETT GENERAL COUNSEL/CORPORATE SECRETARY 3.00 47.00 X 260814 0 37776 AUGUSTINE CHENG MD & CEO (SI) 50.00 0.00 X 603900 0 39590 JEFF ROBERTS MANAGING DIRECTOR UR 2.00 0.00 X 295986 0 34278 JEFF MINDLIN CHIEF INVESTMENT OFFICER 40.00 0.00 X 299390 0 45839 KYLE SIEGAL SVP & CHIEF PATENT COUNSEL (SI) 40.00 0.00 X 251281 0 42579 DEBBIE WILLIAMS CHIEF OPERATIONS OFFICER 40.00 0.00 X 240776 0 26082 STEPHANIE LEACH CHIEF TECHNOLOGY OFFICER 40.00 0.00 X 235002 0 30684 CHARLIE LEWIS VP VENTURE DEV. & PHYSICAL SCI. (SI) 40.00 0.00 X 232242 0 32061 MITCHELL LEVIN THRU 011521 CEO & MANAGING DIRECTOR (UR) 40.00 0.00 X 142599 0 4154 3603304 536545 459046 41 1 1 0 QUARLES AND BRADY LLP TWO NORTH CENTRAL AVE PHOENIX AZ 850042391 EP LEGAL SVCS & SI PATENT PROSECUTION 887252 FISH AND RICHARDSON PC PO BOX 3295 BOSTON MA 022413295 SI PATENT PROSECUTION 496715 WITHROW AND TERRANOVA PLLC 106 PINEDALE SPRINGS WAY CARY NC 27511 SI PATENT PROSECUTION 472761 POLSINELLI PC 700 W 47TH STREET STE 1000 KANSAS CITY MO 64112 SI PATENT PROSECUTION 447839 BOOTH UDALL FULLER PLC 1255 W RI SALADO PKWY STE 215 TEMPE AZ 85281 SI PATENT PROSECUTION 338821 27 4707054 650000 650000 5357054 PROGRAM SUPPORT 611710 1705336 1705336 PROGRAM RENTALS 532000 538600 538600 PROGRAM REV & MBRSHP 541900 133950 133950 2377886 7538424 7538424 134902 134902 240478 0 240478 240478 240478 334380795 330716955 3663840 3663840 3663840 ASSET MANAGEMENT FEES 900099 2595525 2595525 OTHER PROGRAM SERVICE 900099 2079290 2079290 4674815 23987399 7052701 0 11577644 13683498 13683498 164780 32956 32956 98868 4130374 1282635 2831156 16583 268301 88738 179563 642383 128496 482698 31189 286908 87911 198997 58758 58758 867452 755002 112450 67507 67507 249780 249780 791454 791454 890078 606620 283458 31612 31612 1301367 1090566 207804 2997 854599 3 854596 1133942 1114501 19441 44955 4214 40741 17528 465 17063 1101462 1085792 15670 207835 66247 141588 PROGRAM RENTAL EXPENSES 2311948 2311948 OTHER EXPENSES 259362 244484 14878 FEES/SUBSCRIPTIONS 110685 5960 104725 MEALS AND CULTIVATION 66831 3269 63562 29543399 23443517 5950245 149637 10867415 10774784 1451783 1002484 14529748 12288847 699929 409512 104949282 12458557 92978058 92490725 153568258 236961588 0 0 0 0 27881593 27166730 301976784 381094670 21525372 25794959 466522 238266 84035000 80755000 59937396 68363481 165964290 175151706 X 134650531 204906137 1361963 1036827 136012494 205942964 301976784 381094670 X -5556000 71296254 791454 3398762 X 0 1 X 1 0 X 1239000 30126309 39368050 13416747 5357054 89507160 1239000 30126309 39368050 13416747 5357054 89507160 56432937 33074223 6999566 11581635 7778434 7322545 7913804 41595984 131103144 81450764 0.25230 X THE ORGANIZATION, AS THE PARENT ORGANIZATION OF SEVERAL PUBLICLY SUPPORTED NONPROFIT ORGANIZATIONS, HAS OPTIONS ON WHICH ENTITY IT CHOOSES TO RECEIVE GIFTS. WHILE NORMALLY THE ORGANIZATION WOULD AIM TO COLLECT AT LEASE 33 1/3% OF ITS SUPPORT FROM THE GENERAL PUBLIC, THERE ARE TIMES WHERE LARGE REAL ESTATE GIFTS MAY BE RECEIVED BY THE REAL ESTATE ARM OF THE ENTERPRISE. THESE LARGE GIFTS BY NATURE ARE FEW AND HAVE UNPREDICTABLE TIMING, CAUSING INSTANCES WHERE THE 33 1/3% OF PUBLIC SUPPORT MAY NOT BE REACHED. ABSENT THOSE CONTRIBUTIONS AND DEPENDING ON INVESTMENT RETURNS, THE ORGANIZATION WOULD HAVE PASSED THE 33% TEST. DUE TO THAT FACT AND THAT THE ORGANIZATION ALONG WITH ITS AFFILIATED ENTITIES MAINTAINS A BONA FIDE SOLICITATION PROGRAM DIRECTED TOWARDS THE GENERAL PUBLIC AND OTHER PUBLICH CHARITIES THE ORGANIZATION FEELS IT SATISFIES THE 10% FACTS AND CIRCUMSTANCES TEST AND WILL CONTINUE TO MONITOR THE 33% THRESHOLD. IN ADDITION, THE ORGANIZATION HAS A GOVERNING BODY THAT REPRESENTS THE BROAD INTERESTS OF THE PUBLIC. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 249780 0 249780 0 23193737 0 23443517 0 1000000 0 250000 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 487280 965418 357280 249780 2059758 250000 250000 250000 250000 1000000 1500000 172500 124750 102250 0 399500 6250000 6250000 73150000 19161252 9314404 82996848 2000142 1648448 351694 4387888 1495705 2892183 92490725 NET INV IN DIRECT FINANCING 16905000 ASSETS WITH LIMITED USE 8873519 OTHER ASSETS 1388211 27166730 ASSETS HELD FOR OTHER ENTITIES 65072989 INTEREST RATE SWAP LIABILITY 3290492 68363481 X 352134006 71296254 256850353 328146607 23987399 0 23987399 212467593 172391191 172391191 40076402 791454 -11324457 -10533003 29543399 PART X, LINE 2: LIABILITY FOR UNCERTAIN TAX POSITION (ASC 740) ASU ENTERPRISE PARTNERS ("EP") IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND IS FURTHER CLASSIFIED AS PUBLIC CHARITY AS DESCRIBED IN SECTIONS 509(A)(1) AND 170(B)(1)(A)(IV) OF THE INTERNAL REVENUE CODE (CODE). THE ORGANIZATION IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE ORGANIZATION HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. UR AND SI AND ALL SINGLE MEMBER LLCS UNDER THEM HAVE NOT ELECTED TO BE TAXED AS CORPORATIONS AND, THEREFORE, ARE ALL DISREGARDED ENTITIES OF EP FOR FEDERAL, STATE, AND LOCAL INCOME TAX PURPOSES. VENTURES IS A FOR PROFIT CORPORATION WHOLLY OWNED BY SI, AND IS A SEPARATE ENTITY FOR FEDERAL, STATE, AND LOCAL INCOME TAX PURPOSES. THE ORGANIZATION FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE TAX YEARS ENDING JUNE 30, 2022, 2021, 2020, AND 2019 ARE STILL OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: ASUF REVENUE 249,796,978. ASURE REVENUE 8,204,365. RCASU REVENUE 2,699,375. SERVICE AGREEMENT - COST REIMBURSEMENT 13,636,405. CHANGE IN SWAP 3,398,762. PROGRAM RENTAL EXPENSES -2,311,948. SHARED SERVICES 8,989,412. ELIMINATIONS BETWEEN OUTSIDE ENTITIES -27,562,996. PART XII, LINE 2D - OTHER ADJUSTMENTS: ASUF TOTAL EXPENSE 178,978,956. ASURE TOTAL EXPENSE 9,380,695. RCASU TOTAL EXPENSE 2,605,124. SHARED SERVICES 9,931,821. ELIMINATIONS BETWEEN OUTSIDE ENTITIES -31,425,990. ELIMINATIONS BETWEEN EP/UR/SI 2,920,585. PART XII, LINE 4B - OTHER ADJUSTMENTS: PROGRAM RENTAL EXPENSES 2,311,948. EP SERVICE AGREEMENT - COST REIMBURSEMENT -5,215,243. SI SERVICE AGREEMENT - COST REIMBURSEMENT -8,421,162. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES RECRUITING & LEGAL EXPENSES 54394 0 0 0 0 0 0 54394 0 54394 0 0 0 0 0 0 PART I, LINE 3: ACCOUNTING METHOD USED THE EXPENDITURES, PER REGION, ARE PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. PART III ACCOUNTING METHOD: 1 ASU FOUNDATION FOR A NEW AMERICAN UNIVERSITY PO BOX 2260 TEMPE AZ 85280 866051042 501(C)(3) 13530031 0 PROGRAM SUPPORT INVISION AZ 2801 E CAMELBACK ROAD PHOENIX AZ 85016 823671458 501(C)(6) 75000 0 PROGRAM SUPPORT ARIZONA STATE UNIVERSITY PO BOX 870502 TEMPE AZ 85287 860196696 115 69466 0 PROGRAM SUPPORT 2 1 PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS GRANTS PAID CONSIST OF FUNDS PROVIDED TO ARIZONA STATE UNIVERSITY AND OTHER NON-PROFITS FOR ASU RELATED INITIATIVES, WHICH ARE ACCOUNTED FOR AND MONITORED THROUGH THE USE OF ACCOUNTS AND ACCOUNT PURPOSE AT THE TIME OF EACH DISBURSEMENT. X X X X 1 1 X X X 0 0 0 0 0 0 0 1 0 DANIEL DILLON PRESIDENT AND CEO 543164 0 208333 0 9517 0 39800 0 29286 0 830100 0 0 0 AUGUSTINE CHENG MD & CEO (SI) 409482 0 136434 0 57984 0 20300 0 19290 0 643490 0 0 0 GRETCHEN BUHLIG DIRECTOR & CEO (ASUF) 0 435274 0 85000 0 16271 0 39800 0 22227 0 598572 0 0 JEFF MINDLIN CHIEF INVESTMENT OFFICER 266353 0 33000 0 37 0 20300 0 25539 0 345229 0 0 0 JEFF ROBERTS MANAGING DIRECTOR UR 270986 0 25000 0 0 0 20300 0 13978 0 330264 0 0 0 VIRGINIA DESANTO VICE PRESIDENT, CFO & TREASURER 255279 0 25000 0 21 0 19140 0 15750 0 315190 0 0 0 HOPE SHARETT GENERAL COUNSEL/CORPORATE SECRETARY 226814 0 34000 0 0 0 15314 0 22462 0 298590 0 0 0 KYLE SIEGAL SVP & CHIEF PATENT COUNSEL (SI) 221281 0 30000 0 0 0 17031 0 25548 0 293860 0 0 0 DEBBIE WILLIAMS CHIEF OPERATIONS OFFICER 220753 0 20000 0 23 0 16340 0 9742 0 266858 0 0 0 STEPHANIE LEACH CHIEF TECHNOLOGY OFFICER 213480 0 21500 0 22 0 16706 0 13978 0 265686 0 0 0 CHARLIE LEWIS VP VENTURE DEV. & PHYSICAL SCI. (SI) 223242 0 9000 0 0 0 16538 0 15523 0 264303 0 0 0 MITCHELL LEVIN THRU 011521 CEO & MANAGING DIRECTOR (UR) 98849 0 43750 0 0 0 2913 0 1241 0 146753 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE THE MANAGING DIRECTOR OF SKYSONG INNOVATIONS RECEIVES A HOUSING ALLOWANCE, WHICH IS TREATED AS TAXABLE COMPENSATION ON FORM W-2 AND REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). TRAVEL FOR COMPANIONS THE MANAGING DIRECTOR OF SKYSONG INNOVATIONS RECEIVES TRAVEL REIMBURSEMENTS FOR HIMSELF AND HIS SPOUSE, WHICH IS TREATED AS TAXABLE COMPENSATION ON FORM W-2 AND REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). TAX INDEMNIFICATION AND GROSS-UP PAYMENTS THE MANAGING DIRECTOR OF SKYSONG INNOVATIONS RECEIVES TAX GROSS-UP PAYMENTS IN RELATION TO AMOUNTS PAID TO HIM FOR HIS HOUSING ALLOWANCE, TAXABLE SPOUSAL TRAVEL, AND REIMBURSEMENT FOR INTERNET EXPENSES. THE GROSS-UPS ARE TREATED AS TAXABLE COMPENSATION ON FORM W-2 AND REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). SOCIAL CLUB DUES OR INITIATION FEES EP PROVIDES THE PRESIDENT AND CEO WITH A MEMBERSHIP TO A SOCIAL CLUB TO USE FOR BUSINESS PURPOSES. THE MEMBERSHIP IS NON-TAXABLE TO THE PRESIDENT AND CEO AND REPORTED AS NON-TAXABLE BENEFITS ON SCHEDULE J, PART II, COLUMN (D). PART I, LINE 7 NON-FIXED PAYMENTS FOR EP, NON-FIXED PAYMENTS ARE BASED ON COMPENSATION AGREEMENTS AND SUCCESS BENCHMARKS STATED IN EMPLOYMENT CONTRACTS. FOR SKYSONG INNOVATIONS, A SINGLE MEMBER LIMITED LIABILITY COMPANY OF EP, THE COMPENSATION CONTRACT FOR THE MANAGING DIRECTOR ALLOWS FOR THE BOARD OF DIRECTORS OF SKYSONG INNOVATIONS TO APPROVE DISCRETIONARY BONUSES WITHOUT FIXED AMOUNT CALCULATIONS BASED ON THE BOARD'S OVERALL SATISFACTION OF THE MANAGING DIRECTOR'S PERFORMANCE. SCHEDULE J, PART II QUESTIONS REGARDING COMPENSATION EP'S FIVE HIGHEST PAID EMPLOYEES INCLUDES TWO MEMBERS OF THE MANAGEMENT OF ITS SUBSIDIARY, SKYSONG INNOVATIONS, WHICH PROVIDES TECHNOLOGY TRANSFER SERVICES FOR ARIZONA STATE UNIVERSITY. AS ITS SOLE MEMBER, EP HAS DELEGATED RESPONSIBILITY FOR MANAGEMENT OF SKYSONG INNOVATIONS TO THE FIVE-MEMBER BOARD OF DIRECTORS FOR SKYSONG INNOVATIONS, INCLUDING OPERATIONAL ACTIVITIES AND COMPENSATION. A THE INDUSTRIAL DEV AUTH OF THE CITY OF TEMPE AZ 860439481 87972MAB8 2004-01-07 22420000 ACQUIRE, IMPROVE, & EQUIP FACILITY 0 0 0 B THE INDUSTRIAL DEV AUTH OF THE CITY OF TEMPE AZ 860439481 2004-07-01 30425000 BOND REFUNDING ISSUE 0 0 0 C THE INDUSTRIAL DEV AUTH OF THE CITY OF TEMPE AZ 860439481 2014-12-16 31390000 ACQUIRE, IMPROVE, & EQUIP FACILITY 0 0 0 A 22475006 650472 277740 21546714 2004 0 0 1 1 B 30425000 30425000 2021 1 0 1 1 C 31503841 31503841 2018 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 1 1 1 BANK OF AMERICA 30.000000000000 0 0 0 1 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART I, BONDS A-C, ISSUER NAME: THE INDUSTRIAL DEV. AUTH. OF THE CITY OF TEMPE, AZ SCHEDULE K, PART I, BONDS A AND C, PURPOSE OF BOND: TO ACQUIRE, IMPROVE, AND EQUIP FACILITY. SCHEDULE K, PART I, BOND B, PURPOSE OF BOND: THE BOND ISSUED 04/22/2014 WAS USED TO REFUND A BOND ORIGINALLY ISSUED ON 10/28/2003. SCHEDULE K, PART II, LINE 3, BOND A AND BOND C, ISSUE PRICE: THE DIFFERENCE BETWEEN THE ISSUE PRICE LISTED IN PART I, COLUMN (E) AND THE TOTAL PROCEEDS OF ISSUE IN PART II, LINE 3 FOR BOND A AND BOND C REPRESENTS INTEREST INCOME. SCHEDULE K, PART IV, LINE 2C, BONDS A-C, REBATE COMPUTATION: THE REBATE COMPUTATION FOR THE 2004 BOND A WAS LAST PERFORMED ON 6/30/2019. THE REBATE COMPUTATION FOR THE 2021 BOND B WAS LAST PERFORMED ON 11/09/2021. THE REBATE COMPUTATION FOR THE 2014 BOND C WAS LAST PERFORMED ON 12/16/2019. X 1 650000 FMV 0 1 1 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS IN COLUMN (B). PART I, LINE 32B: ASU EP USES A VARIETY OF BROKERAGE AND SERVICE COMPANIES TO CONVERT NON-CASH GIFTS TO CASH BASED ON THE TYPE OF NON-CASH GIFT RECEIVED. FORM 990, PART I, LINE 1 AND PART III, LINE 1: 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. FORM 990, PART VI, SECTION B, LINE 11B 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. FORM 990, PART VI, SECTION B, LINE 12C 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. FORM 990, PART VI, SECTION B, LINE 15 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. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS MADE AVAILABLE TO THE PUBLIC THE FINANCIAL STATEMENTS, FORM 990, AND FORM 990-T FOR ASUEP ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST STATEMENT ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN UNREALIZED SWAP VALUE 3,398,762. 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