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Nonprofiteer
← ARIZONA STATE UNIVERSITY RESEARCH PARK INC

Form 990 for tax year 2024

Filed by ARIZONA STATE UNIVERSITY RESEARCH PARK INC.

Totals

Total revenue
$14,528,109
Total expenses
$8,559,664
Contributions and grants received
$0
Grants paid
$150,000
Program service revenue
$14,336,490
Investment income
$191,619
Other revenue
$0
Total assets, end of year
$85,894,079
Total liabilities, end of year
$16,790,244
Net assets or fund balances, end of year
$69,103,835
Program services expenses (Part IX)
$8,345,596
Management and general expenses
$214,068
Fundraising expenses
$0
Program service expenses (Part III)
$8,345,596

Program services were 97.5% 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 $14,232,939 · related or exempt $14,232,939

  • 2b · Program service revenue: INFRASTRUCTURE REVENUE

    total $63,208 · related or exempt $63,208

  • 2c · Program service revenue: OTHER PROGRAM REVENUE

    total $40,343 · related or exempt $40,343

  • 3 · Investment income

    total $191,619 · excluded $191,619

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 $293,434 · program services $293,434

  • 11b · Fees: legal

    total $8,933 · program services $8,933

  • 11c · Fees: accounting

    total $79,784 · management and general $79,784

  • 12 · Advertising and promotion

    total $17,049 · management and general $17,049

  • 13 · Office expenses

    total $13,701 · management and general $13,701

  • 14 · Information technology

    total $2,646 · management and general $2,646

  • 16 · Occupancy

    total $6,735,813 · program services $6,732,808 · management and general $3,005

  • 17 · Travel

    total $51 · program services $51

  • 19 · Conferences, conventions and meetings

    total $12,884 · management and general $12,884

  • 22 · Depreciation, depletion and amortization

    total $413,842 · program services $413,842

  • 23 · Insurance

    total $30,395 · management and general $30,395

  • 24a · Other expenses: GROUNDS MAINTENANCE

    total $760,435 · program services $746,528 · management and general $13,907

  • 24b · Other expenses: OPERATIONS

    total $22,563 · management and general $22,563

  • 24c · Other expenses: SECURITY

    total $18,134 · management and general $18,134

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,827,204 · end of year $4,715,329

  • 2 · Savings and temporary cash investments

    beginning of year $2,215,494 · end of year $2,368,374

  • 3 · Pledges and grants receivable

    beginning of year $79,730 · end of year $566

  • 9 · Prepaid expenses and deferred charges

    beginning of year $77 · end of year $76

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

    $16,674,486

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

    $12,590,008

  • 10c · Land, buildings and equipment, net

    beginning of year $4,200,493 · end of year $4,084,478

  • 15 · Other assets

    beginning of year $68,992,573 · end of year $74,725,256

  • 17 · Accounts payable and accrued expenses

    beginning of year $100,703 · end of year $154,358

  • 19 · Deferred revenue

    beginning of year $12,396,140 · end of year $12,482,510

  • 25 · Other liabilities

    beginning of year $3,683,338 · end of year $4,153,376

  • 27 · Net assets without donor restrictions

    beginning of year $63,135,390 · end of year $69,103,835

Mission and programs · 2024

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 $8,345,596 · Grants $150,000 · Revenue $14,336,490

As filed on the 2024 return.

Listed in Part VII

  • Dr Morgan Olsen

    PRESIDENT/DIRECTOR

    Total calculated
    $1,167,038
    From this org
    $0
    From related orgs
    $1,104,247
    Other
    $62,791
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $587,699 related
    Bonus
    $0
    Other
    $0 + $516,548 related
    Deferred
    $0 + $44,850 related
    Nontaxable benefits
    $0 + $17,941 related
    Filer's total
    $0 + $1,167,038 related

  • Lisa Loo

    DIRECTOR

    Total calculated
    $655,042
    From this org
    $0
    From related orgs
    $613,907
    Other
    $41,135
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $491,372 related
    Bonus
    $0
    Other
    $0 + $122,535 related
    Deferred
    $0 + $34,674 related
    Nontaxable benefits
    $0 + $6,461 related
    Filer's total
    $0 + $655,042 related

  • Dr Kyle Squires

    DIRECTOR

    Total calculated
    $618,653
    From this org
    $0
    From related orgs
    $589,306
    Other
    $29,347
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $589,306 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $5,197 related
    Filer's total
    $0 + $618,653 related

  • Anjali Halabe

    SECRETARY/TREASURER

    Total calculated
    $437,677
    From this org
    $0
    From related orgs
    $411,810
    Other
    $25,867
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $396,810 related
    Bonus
    $0 + $15,000 related
    Other
    $0
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $1,717 related
    Filer's total
    $0 + $437,677 related

  • John Lewis

    VICE PRESIDENT/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Roc Arnett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Denny Barney

    DIRECTOR (UNTIL 10/24)

    Total calculated
    $0
    Hours/week
    1

  • Angela Creedon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Drena Kusari

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ann McCartney

    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

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
2024
Filed
27 February 2026
IRS schema version
2024v5.5
Source object
202630629349300743

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