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Nonprofiteer
← ARIZONA STATE UNIVERSITY RESEARCH PARK INC

Form 990 for tax year 2023

Filed by ARIZONA STATE UNIVERSITY RESEARCH PARK INC.

Totals

Total revenue
$14,466,903
Total expenses
$8,214,454
Contributions and grants received
$0
Grants paid
$150,000
Program service revenue
$14,303,453
Investment income
$163,450
Other revenue
$0
Total assets, end of year
$79,315,571
Total liabilities, end of year
$16,180,181
Net assets or fund balances, end of year
$63,135,390
Program services expenses (Part IX)
$8,000,986
Management and general expenses
$213,468
Fundraising expenses
$0
Program service expenses (Part III)
$8,000,986

Program services were 97.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: NONRESIDENTIAL RENT

    total $14,215,807 · related or exempt $14,215,807

  • 2b · Program service revenue: INFRASTRUCTURE REVENUE

    total $63,216 · related or exempt $63,216

  • 2c · Program service revenue: OTHER PROGRAM REVENUE

    total $24,430 · related or exempt $24,430

  • 3 · Investment income

    total $163,450 · excluded $163,450

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $150,000 · program services $150,000

  • 11a · Fees: management

    total $292,753 · program services $292,753

  • 11b · Fees: legal

    total $29,094 · program services $29,094

  • 11c · Fees: accounting

    total $78,595 · management and general $78,595

  • 12 · Advertising and promotion

    total $21,466 · management and general $21,466

  • 13 · Office expenses

    total $9,647 · management and general $9,647

  • 14 · Information technology

    total $2,378 · management and general $2,378

  • 16 · Occupancy

    total $6,255,435 · program services $6,252,707 · management and general $2,728

  • 19 · Conferences, conventions and meetings

    total $14,661 · management and general $14,661

  • 22 · Depreciation, depletion and amortization

    total $406,785 · program services $406,785

  • 23 · Insurance

    total $29,407 · management and general $29,407

  • 24a · Other expenses: GROUNDS MAINTENANCE

    total $883,041 · program services $869,544 · management and general $13,497

  • 24b · Other expenses: OPERATIONS

    total $26,026 · management and general $26,026

  • 24c · Other expenses: SECURITY

    total $15,063 · management and general $15,063

  • 24d · Other expenses: DONATION EXPENSE

    total $103 · program services $103

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,009,823 · end of year $3,827,204

  • 2 · Savings and temporary cash investments

    beginning of year $1,980,713 · end of year $2,215,494

  • 3 · Pledges and grants receivable

    end of year $79,730

  • 9 · Prepaid expenses and deferred charges

    beginning of year $78 · end of year $77

  • 10a · Land, buildings and equipment: cost or other basis

    $16,453,625

  • 10b · Land, buildings and equipment: accumulated depreciation

    $12,253,132

  • 10c · Land, buildings and equipment, net

    beginning of year $4,405,958 · end of year $4,200,493

  • 15 · Other assets

    beginning of year $62,968,342 · end of year $68,992,573

  • 17 · Accounts payable and accrued expenses

    beginning of year $130,428 · end of year $100,703

  • 19 · Deferred revenue

    beginning of year $12,868,116 · end of year $12,396,140

  • 25 · Other liabilities

    beginning of year $4,483,429 · end of year $3,683,338

  • 27 · Net assets without donor restrictions

    beginning of year $56,882,941 · end of year $63,135,390

Mission and programs · 2023

Mission

TO ACQUIRE INTERESTS IN REAL PROPERTY, DEVELOP SUCH PROPERTY AS A RESEARCH PARK, AND PROMOTE AND SUPPORT RESEARCH ACTIVITIES IN COORDINATION WITH ARIZONA STATE UNIVERSITY.

Activities or mission (Part I)

TO ACQUIRE INTERESTS IN REAL PROPERTY AND SUPPORT RESEARCH ACTIVITIES.

  • THE RESEARCH PARK HAS 28 GROUND LEASES IN EFFECT, WITH A TOTAL OF 26 COMPLETED BUILDINGS. THE PARK HOUSES TENANTS ORIENTED TO EDUCATION, RESEARCH, AND MISCELLANEOUS OTHER BUSINESS ENDEAVORS.THE PARK IS 96% LEASED, WITH 5 ACRES REMAINING AVAILABLE FOR LEASE. REVENUES FROM THE RESEARCH PARK ARE USED BY ASU TO SUPPORT THAT INSTITUITION'S VARIOUS ACTIVITIES, INCLUDING RESEARCH.

    Expenses $8,000,986 · Grants $150,000 · Revenue $14,303,453

As filed on the 2023 return.

Listed in Part VII

  • Dr Morgan Olsen

    PRESIDENT

    Total calculated
    $1,101,896
    From this org
    $0
    From related orgs
    $1,045,194
    Other
    $56,702
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $561,251 related
    Bonus
    $0
    Other
    $0 + $483,943 related
    Deferred
    $0 + $42,900 related
    Nontaxable benefits
    $0 + $13,802 related
    Filer's total
    $0 + $1,101,896 related

  • Roc Arnett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Denny Barney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Drena Kusari

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lisa Loo

    DIRECTOR

    Total calculated
    $635,576
    From this org
    $0
    From related orgs
    $595,863
    Other
    $39,713
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $475,613 related
    Bonus
    $0
    Other
    $0 + $120,250 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $6,713 related
    Filer's total
    $0 + $635,576 related

  • Ann McCartney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Kyle Squires

    DIRECTOR

    Total calculated
    $524,873
    From this org
    $0
    From related orgs
    $496,576
    Other
    $28,297
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $496,576 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,100 related
    Nontaxable benefits
    $0 + $5,197 related
    Filer's total
    $0 + $524,873 related

  • Anjali Halabe

    SECRETARY/TREASURER

    Total calculated
    $429,245
    From this org
    $0
    From related orgs
    $404,510
    Other
    $24,735
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,057 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $43,453 related
    Deferred
    $0 + $23,100 related
    Nontaxable benefits
    $0 + $1,635 related
    Filer's total
    $0 + $429,245 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE OFFICERS AND DIRECTORS LISTED ON THIS SCHEDULE J ARE COMPENSATED BY ARIZONA STATE UNIVERSITY. THEIR COMPENSATION IS DETERMINED BY THE UNIVERSITY IN ADHERANCE WITH POLICIES OF THE UNIVERSITY AND APPLICABLE UNIVERSITY GOVERNANCE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • ARIZONA STATE UNIVERSITY

    UNIVERSITY · AZ

Provenance

Return type
form_990
Tax year
2023
Filed
11 December 2024
IRS schema version
2023v5.1
Source object
202423589349301002

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