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Nonprofiteer
← ARKANSAS STATE UNIVERSITY SYSTEM FOUNDATION INC

Form 990 for tax year 2023

Filed by ARKANSAS STATE UNIVERSITY SYSTEM FOUNDATION INC.

Totals

Total revenue
$39,409,489
Total expenses
$8,270,123
Contributions and grants received
$32,376,831
Grants paid
$4,321,269
Program service revenue
$0
Investment income
$6,464,182
Other revenue
$568,476
Total assets, end of year
$167,464,277
Total liabilities, end of year
$15,682,050
Net assets or fund balances, end of year
$151,782,227
Program services expenses (Part IX)
$8,077,856
Management and general expenses
$192,267
Fundraising expenses
$0
Program service expenses (Part III)
$8,077,856

Program services were 97.7% 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.

  • 1f · All other contributions, gifts and grants

    $32,376,831

  • 1g · Noncash contributions included above

    $25,300,240

  • 3 · Investment income

    total $3,309,817 · excluded $3,309,817

  • 7a · Gross sales of assets other than inventory

    securities $75,927,768

  • 7b · Less cost or other basis and sales expenses

    securities $72,773,403

  • 7c · Gain or loss

    securities $3,154,365

  • 7d · Net gain or loss

    total $3,154,365 · excluded $3,154,365

  • 11a · Other revenue: OTHER INCOME

    total $568,476 · excluded $568,476

  • 11e · Other revenue, total

    $568,476

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,321,269 · program services $4,321,269

  • 5 · Compensation of officers, directors and key employees

    total $212,885 · program services $170,308 · management and general $42,577

  • 7 · Other salaries and wages

    total $146,780 · program services $117,424 · management and general $29,356

  • 9 · Other employee benefits

    total $90,791 · program services $79,680 · management and general $11,111

  • 10 · Payroll taxes

    total $24,626 · program services $19,701 · management and general $4,925

  • 11c · Fees: accounting

    total $77,113 · program services $62,140 · management and general $14,973

  • 11f · Fees: investment management

    total $1,629,503 · program services $1,629,503

  • 12 · Advertising and promotion

    total $62,036 · program services $62,036

  • 13 · Office expenses

    total $32,441 · program services $26,890 · management and general $5,551

  • 14 · Information technology

    total $47,758 · program services $38,281 · management and general $9,477

  • 16 · Occupancy

    total $22,154 · program services $22,154

  • 17 · Travel

    total $68,731 · program services $68,731

  • 19 · Conferences, conventions and meetings

    total $48,301 · program services $48,301

  • 20 · Interest

    total $8,186 · program services $8,186

  • 22 · Depreciation, depletion and amortization

    total $60,854 · program services $48,683 · management and general $12,171

  • 23 · Insurance

    total $31,451 · program services $31,451

  • 24a · Other expenses: SUPPLIES

    total $293,440 · program services $293,440

  • 24b · Other expenses: OTHER EXPENSES

    total $250,370 · program services $250,199 · management and general $171

  • 24c · Other expenses: CONSULTING SERVICES

    total $214,663 · program services $176,819 · management and general $37,844

  • 24d · Other expenses: BUSINESS MEALS & ENTERT

    total $122,684 · program services $122,684

  • 24e · All other expenses

    total $504,087 · program services $479,976 · management and general $24,111

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $732,205 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $12,575,138 · end of year $29,801,834

  • 3 · Pledges and grants receivable

    beginning of year $902,049 · end of year $2,999,761

  • 9 · Prepaid expenses and deferred charges

    beginning of year $43,288 · end of year $71,859

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

    $2,566,990

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

    $778,562

  • 10c · Land, buildings and equipment, net

    beginning of year $1,776,762 · end of year $1,788,428

  • 11 · Investments: publicly traded securities

    beginning of year $100,994,072 · end of year $119,625,276

  • 12 · Investments: other securities

    beginning of year $12,437,987 · end of year $13,055,389

  • 15 · Other assets

    beginning of year $121,730 · end of year $121,730

  • 17 · Accounts payable and accrued expenses

    beginning of year $43,703 · end of year $29,842

  • 25 · Other liabilities

    beginning of year $14,922,926 · end of year $15,652,208

  • 27 · Net assets without donor restrictions

    beginning of year $5,287,562 · end of year $3,963,353

  • 28 · Net assets with donor restrictions

    beginning of year $109,329,040 · end of year $147,818,874

Mission and programs · 2023

Mission

THE PRIMARY PURPOSE OF THE ARKANSAS STATE UNIVERSITY SYSTEM FOUNDATION, INC. (THE FOUNDATION) IS TO RECEIVE, SOLICIT, ACCEPT AND HOLD, ADMINISTER, INVEST AND DISBURSE ANY AND EVERY KIND OF PROPERTY FOR SUCH EDUCATION, SCIENTIFIC, LITERARY, RESEARCH AND SERVICE ACTIVITIES FROM INDIVIDUALS AND ORGANIZATIONS, INCLUDING FOUNDATIONS, GOVERNMENT AGENCIES, AND PRIVATE BUSINESSES, TO SUPPORT THE CORPORATION'S ACTIVITIES, AND IT SHALL MANAGE ENDOWMENTS GIVEN TO THE CORPORATION FOR THE BENEFIT OF ALL THE ARKANSAS STATE UNIVERSITY SYSTEM CAMPUSES OPERATIONS, SITES AND FACILITIES.

Activities or mission (Part I)

THE PRIMARY PURPOSE OF THE FOUNDATION IS TO RECEIVE, SOLICIT, ACCEPT AND HOLD, ADMINISTER, INVEST AND DISBURSE ANY AND EVERY KIND OF PROPERTY FOR SUCH EDUCATION, SCIENTIFIC, LITERARY, RESEARCH AND SERVICE ACTIVITIES FROM INDIVIDUALS AND ORGANIZATIONS, INCLUDING FOUNDATIONS, GOVERNMENT AGENCIES, AND PRIVATE BUSINESSES, TO SUPPORT THE CORPORATION'S ACTIVITIES, AND IT SHALL MANAGE ENDOWMENTS GIVEN TO THE CORPORATION FOR THE BENEFIT OF ALL THE ARKANSAS STATE UNIVERSITY SYSTEM CAMPUSES OPERATIONS, SITES AND FACILITIES.

  • ASU SUPPORT:THE PRIMARY PURPOSE OF THE ARKANSAS STATE UNIVERSITY SYSTEM FOUNDATION, INC. (THE FOUNDATION) IS TO RECEIVE, SOLICIT, ACCEPT AND HOLD, ADMINISTER, INVEST AND DISBURSE ANY AND EVERY KIND OF PROPERTY FOR SUCH EDUCATION, SCIENTIFIC, LITERARY, RESEARCH AND SERVICE ACTIVITIES FROM INDIVIDUALS AND ORGANIZATIONS, INCLUDING FOUNDATIONS, GOVERNMENT AGENCIES, AND PRIVATE BUSINESSES, TO SUPPORT THE CORPORATION'S ACTIVITIES, AND IT SHALL MANAGE ENDOWMENTS GIVEN TO THE CORPORATION FOR THE BENEFIT OF ALL THE ARKANSAS STATE UNIVERSITY SYSTEM CAMPUSES OPERATIONS, SITES AND FACILITIES.

    Expenses $4,321,269 · Grants $4,321,269

  • ASU ACADEMIC SUPPORT:THE ARKANSAS STATE UNIVERSITY SYSTEM FOUNDATION, INC. PROVIDES FINANCIAL ASSISTANCE TO ALL MEMBER CAMPUSES OF THE ARKANSAS STATE UNIVERISTY SYSTEM AND RELATED ENTITIES IN SUPPORT OF TEACHING, RESEARCH, DISTANCE LEARNING, LIBRARY MEDIA SERVICES, ECONOMIC DEVELOPMENT AND OUTREACH PROGRAMS BY SUPPLEMENTING UNIVERSITY BUDGETS FOR SUPPLIES AND SERVICES, TRAVEL, EQUIPMENT, TECHNOLOGY, HUMAN RESOURCES AND ALL OTHER COSTS RELATED TO THE UNIVERSITY'S ACADEMIC MISSION.

    Expenses $2,253,952

  • ADMINISTRATIVE SUPPORT:THE ARKANSAS STATE UNIVERSITY SYSTEM FOUNDATION, INC. PROVIDES FINANCIAL ASSISTANCE TO ALL MEMBER CAMPUSES OF THE ARKANSAS STATE UNIVERISTY SYSTEM IN SUPPORT OF ADMINISTRATIVE FUNCTIONS LIKE ACADEMIC AFFAIRS, STUDENT AFFAIRS, RESIDENCE LIFE, RECRUITING, COUNSELING, FACILITIES MANAGEMENT, ADVANCEMENT, ALUMNI RELATIONS, INFORMATION TECHNOLOGY, CAREER MANAGEMENT, DISABILITY SERVICES AD DIVERSITY INITIATIVES BY SUPPLEMENTING UNIVERSITY BUDGETS FOR SUPPLIES AND SERVICES, TRAVEL, EQUIPMENT, TECHNOLOGY, HUMAN RESOURCES AND ALL OTHER COSTS RELATED TO THE UNIVERSITY'S ACADEMIC MISSION.

    Expenses $751,317

  • ASU STUDENT SUPPORT:THE ARKANSAS STATE UNIVERSITY SYSTEM FOUNDATION, INC. PROVIDES FINANCIAL ASSISTANCE TO ALL MEMBER CAMPUSES OF THE ARKANSAS STATE UNIVERISTY SYSTEM THROUGH ACADEMIC SCHOLARSHIPS, AWARDS, STIPENDS, GRANTS AND GENERAL SUPPORT FOR VARIOUS STUDENT ACTIVITIES. THE MAJORITY OF FINANCIAL ASSISTANCE TO STUDENTS IS MADE BY WAY OF TRANSFERS TO ARKANSAS STATE UNIVERSITY.

    Expenses $751,318

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • NICOLE FREY

    PRESIDENT

    Total calculated
    $172,554
    From this org
    $0
    From related orgs
    $135,072
    Other
    $37,482
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $135,072 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,507 related
    Nontaxable benefits
    $0 + $23,975 related
    Filer's total
    $0 + $172,554 related

  • MELISSA LIVINGSTON

    BOARD LIASON

    Total calculated
    $64,256
    From this org
    $0
    From related orgs
    $49,151
    Other
    $15,105
    Hours/week
    1 + 40 related

  • CHARLOTTE RAZER

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • DAVID A PICKLER

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • DR HAZEL DICKY

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • PAM KAIL

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • PHILIP JACKSON

    FORMER PRESIDENT

    Total calculated
    $26,622
    From this org
    $0
    From related orgs
    $24,698
    Other
    $1,924
    Hours/week
    1 + 40 related

  • PHILLIP BUTTERFIELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHRIS VANLANDINGHAM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHARON DAVIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JIM GOWEN JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOE MILES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CRAIG WALKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HUGH BURGE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SCOTT WHITE

    DIRECTOR

    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

  • 1a · Discretionary spending account
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
29 March 2025
IRS schema version
2023v6.0
Source object
202530919349301418

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