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← ASU RESEARCH ENTERPRISE

Form 990 for tax year 2023

Filed by ASU RESEARCH ENTERPRISE.

Totals

Total revenue
$2,002,312
Total expenses
$1,175,521
Contributions and grants received
$170,000
Grants paid
$645,553
Program service revenue
$1,816,879
Investment income
$0
Other revenue
$15,433
Total assets, end of year
$1,242,408
Total liabilities, end of year
$794,485
Net assets or fund balances, end of year
$447,923
Program services expenses (Part IX)
$756,181
Management and general expenses
$419,340
Fundraising expenses
$0
Program service expenses (Part III)
$756,181

Program services were 64.3% 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.

  • 1d · Related organizations

    $170,000

  • 2a · Program service revenue: RESEARCH CONTRACTS

    total $1,816,879 · related or exempt $1,816,879

  • 11a · Other revenue: OTHER INCOME

    total $15,433 · excluded $15,433

  • 11e · Other revenue, total

    $15,433

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $645,553 · program services $645,553

  • 5 · Compensation of officers, directors and key employees

    total $85,833 · management and general $85,833

  • 7 · Other salaries and wages

    total $159,575 · program services $18,626 · management and general $140,949

  • 8 · Pension plan contributions

    total $10,502 · management and general $10,502

  • 9 · Other employee benefits

    total $38,328 · management and general $38,328

  • 10 · Payroll taxes

    total $20,284 · management and general $20,284

  • 11b · Fees: legal

    total $10,305 · management and general $10,305

  • 11c · Fees: accounting

    total $5,267 · management and general $5,267

  • 11f · Fees: investment management

    total $93,102 · program services $83,436 · management and general $9,666

  • 13 · Office expenses

    total $7,422 · program services $3,407 · management and general $4,015

  • 14 · Information technology

    total $38,231 · program services $276 · management and general $37,955

  • 16 · Occupancy

    total $36,912 · management and general $36,912

  • 17 · Travel

    total $8,576 · program services $4,843 · management and general $3,733

  • 19 · Conferences, conventions and meetings

    total $718 · management and general $718

  • 20 · Interest

    total $954 · management and general $954

  • 24a · Other expenses: PROJECT MATERIALS

    total $11,509 · management and general $11,509

  • 24b · Other expenses: FEES AND SUBSCRIPTIONS

    total $2,079 · program services $29 · management and general $2,050

  • 24c · Other expenses: MEALS AND CULTIVATION

    total $371 · program services $11 · management and general $360

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $95,602 · end of year $424,332

  • 4 · Accounts receivable

    beginning of year $63,732 · end of year $752,299

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

    $65,777

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $261,275 · end of year $65,777

  • 15 · Other assets

    beginning of year $2,612 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $383,982 · end of year $530,942

  • 19 · Deferred revenue

    beginning of year $0 · end of year $58,747

  • 25 · Other liabilities

    beginning of year $418,107 · end of year $204,796

  • 27 · Net assets without donor restrictions

    beginning of year -$378,868 · end of year $447,923

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

EXTEND ASU'S REACH TO MEET ITS RESEARCH GOALS THROUGH THE CULTIVATION AND EXECUTION OF APPLIED R&D.

  • GROW ASU RESEARCH ENTERPRISE (ASURE) INTO A RECOGNIZED LEADER IN TECHNOLOGY INNOVATION THROUGH APPLIED RESEARCH AND DEVELOPMENT IN ORDER TO STRENGTHEN ASU'S REACH, REPUTATION, AND IMPACT ON THE TOUGHEST CHALLENGES FACING NATIONAL SECURITY AND GLOBAL WELL-BEING.

    Expenses $756,181 · Grants $645,553 · Revenue $1,816,879

As filed on the 2023 return.

Listed in Part VII

  • Daniel Dillon

    DIRECTOR (THRU 3/24)

    Total calculated
    $900,539
    From this org
    $0
    From related orgs
    $824,034
    Other
    $76,505
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $565,792 related
    Bonus
    $0 + $235,000 related
    Other
    $0 + $23,242 related
    Deferred
    $0 + $45,600 related
    Nontaxable benefits
    $0 + $30,905 related
    Filer's total
    $0 + $900,539 related

  • Virginia E Desanto

    FORMER TREASURER

    Total calculated
    $349,966
    From this org
    $0
    From related orgs
    $305,588
    Other
    $44,378
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $278,043 related
    Bonus
    $0 + $27,545 related
    Other
    $0
    Deferred
    $0 + $20,865 related
    Nontaxable benefits
    $0 + $23,513 related
    Filer's total
    $0 + $349,966 related

  • Hope Sharett

    FORMER SECRETARY

    Total calculated
    $342,517
    From this org
    $0
    From related orgs
    $292,576
    Other
    $49,941
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,956 related
    Bonus
    $0 + $26,620 related
    Other
    $0
    Deferred
    $0 + $20,071 related
    Nontaxable benefits
    $0 + $29,870 related
    Filer's total
    $0 + $342,517 related

  • Ronald Thompson

    MANAGING DIRECTOR (THRU 9/23)

    Total calculated
    $224,902
    From this org
    $214,017
    From related orgs
    $0
    Other
    $10,885
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,684
    Bonus
    $30,000
    Other
    $33,333
    Deferred
    $9,692
    Nontaxable benefits
    $1,193
    Filer's total
    $224,902

  • Erik Mercado

    DIRECTOR OF RESEARCH COMPLIANCE SVCS.

    Total calculated
    $178,847
    From this org
    $132,480
    From related orgs
    $0
    Other
    $46,367
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,687
    Bonus
    $6,750
    Other
    $43
    Deferred
    $9,909
    Nontaxable benefits
    $36,458
    Filer's total
    $178,847

  • Justin Wheeler

    DIRECTOR OF OPERATIONS (THRU 5/24)

    Total calculated
    $163,469
    From this org
    $150,836
    From related orgs
    $0
    Other
    $12,633
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,836
    Bonus
    $7,000
    Other
    $0
    Deferred
    $10,584
    Nontaxable benefits
    $2,049
    Filer's total
    $163,469

  • Nickolai Bannick

    TELECOM ENGINEER (THRU 11/23)

    Total calculated
    $113,281
    From this org
    $105,987
    From related orgs
    $0
    Other
    $7,294
    Hours/week
    40

  • Raja Suresh

    MANAGING DIRECTOR (FROM 10/23)

    Total calculated
    $86,446
    From this org
    $83,700
    From related orgs
    $0
    Other
    $2,746
    Hours/week
    50

  • Ana Abasta

    EXEC. ASST./ OFFICE MGR./SECRETARY

    Total calculated
    $85,861
    From this org
    $62,755
    From related orgs
    $0
    Other
    $23,106
    Hours/week
    40

  • Rf Shangraw Jr

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Sally Morton

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ryan Given

    TREASURER

    Total calculated
    $0
    Hours/week
    1

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

  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
RONALD THOMPSON RECEIVED A SEVERANCE PAYMENT OF $33,333.
PART I, LINE 7
NON-FIXED PAYMENTS BONUSES ARE GIVEN ON A DISCRETIONARY BASIS BASED ON PERFORMANCE REVIEWS AT THE END OF THE YEAR.

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

  • ARIZONA STATE UNIVERSITY

    $645,553

    PROGRAM SUPPORT

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • EPIXC LLC

    SUPPORT · AZ · income $0 · assets $0

    Directly controlled by ASURE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • TEOTIHUACAN HOLDINGS LLC

    C · HOLDING CO. · DE

    Directly controlled by ECASU

  • CHARITABLE REMAINDER TRUST (16)

    T · CHARITABLE REMAINDER TRUST · AZ

    Directly controlled by ASUF

  • SS SPORTFISHING INC

    C · HOLDING CO. · HI

    Directly controlled by ECASU

  • AZTE VENTURES CO

    C · SOLAR ENERGY · AZ

    Directly controlled by SKYSONG

Provenance

Return type
form_990
Tax year
2023
Filed
11 March 2025
IRS schema version
2023v6.0
Source object
202510739349301671

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