ASU Foundation

Last updated
ASU Foundation
ASUFoundation.jpg
Fulton Center, home of the ASU Foundation
Formation22 June 1955 (1955-06-22)
86-6051042
HeadquartersTempe, Arizona, U.S.
Chief Executive Officer
Gretchen Buhlig
Senior Vice President and Chief Development Officer
Kimberly Hopely
Key people
John Graham, Chairman of the Board of Directors
Revenue
$221 million (FY20)
Endowment $959 million (FY20)
Staff
106 FTEs (FY20)
Website https://www.asufoundation.org/

The ASU Foundation, officially known as the Arizona State University Foundation for A New American University, is a nonprofit corporation created to support Arizona State University, which has four metropolitan Phoenix campuses, and campuses in Lake Havasu City, Los Angeles and Washington, D.C. The ASU Foundation is one of five distinct nonprofit entities governed by ASU Enterprise Partners and its volunteer board of directors. Tax exempt under section 501(c)(3), the ASU Foundation raises and manages money through philanthropic efforts.

Size

In fiscal year 2020, the ASU Foundation generated more than $289 million in new gifts and commitments for the benefit of ASU, while increasing its overall endowment to more than $959 million. [1]

Mission and Values

The ASU Foundation's mission is "To advance, through philanthropy, the success of Arizona State University as A New American University." [2]

History

The ASU Foundation was incorporated on June 22, 1955, as the Arizona State College Foundation. The foundation drew inspiration from the 1885 philanthropic offering of George and Martha Wilson of 15 acres of land to create the Tempe Normal School, [3] which would later become Arizona State University. These first donors to ASU were recognized in 1956 with the naming of a new women's residence facility, George W. Wilson Hall.

The Arizona State Teachers College, as ASU was known in the 1930s, relied on the Bulldog Boosters organization for private support of its athletic programs. In the mid-1940s, the fundraising group changed its name to Sun Angels, concurrent with the renaming of the college's mascot to the Sun Devils.

In 1947, Grady Gammage, president of the newly named Arizona State College, established the Agricultural Advisory Council to advocate for and raise funds on behalf of the school's agricultural activities. In 1955, the council was incorporated and renamed the Arizona State College Foundation, with its philanthropic mission broadened to serve the entire college.

A state referendum in 1958 renamed the college Arizona State University, with a concomitant name change for the foundation to Arizona State University Foundation, more commonly referred to as the ASU Foundation. In 2008, the foundation was renamed the ASU Foundation for A New American University to reflect the vision laid out for the university by President Michael M. Crow. [4]

As of July 1,2016, the ASU Foundation for A New American University underwent a corporate restructuring to create ASU Enterprise Partners. The fundraising component retained the name "ASU Foundation for A New American University," becoming one of the five entities or partners of the larger enterprise, focusing its efforts solely on philanthropy and development.

Methods

The ASU Foundation supports the university with funds provided by private and corporate philanthropy. Philanthropy through the foundation is based on each donor's areas of interest. The foundation's guiding principle states, "Financial support is best advanced by determining and aligning the motivations and aspirations of our investors with the university's mission." [5] The foundation works to connect donors with the ASU colleges, institutes, or programs that share their interests.

Funds raised by development activity become part of a foundation portfolio invested by an outsourced chief investment officer model. The foundation provided about $143.6 million in fiscal year 2020 to ASU for university programs and activities and to support students and faculty. The foundation invests the endowment funds under the direction of the Investment Committee of ASU Enterprise Partners' board of directors and under the management of an Outsourced Chief Investment Officer, currently BlackRock, in collaboration with the ASU Enterprise Partners investment office.

Recognition

The ASU Foundation is rated a four-star charity by Charity Navigator [6] and is a gold-level GuideStar Exchange participant [7] in recognition of its commitment to transparency. The foundation was recognized as one of the Top Companies to Work for in Arizona by AZcentral.com from 2014 to 2020. [8]

Related Research Articles

United Way of America

United Way of America, based in Alexandria, Virginia, is a nonprofit organization that works with almost 1,200 offices throughout the country in a coalition of charitable organizations to pool efforts in fundraising and support. United Way's focus is to identify and resolve pressing community issues and to make measurable changes in communities through partnerships with schools, government agencies, businesses, organized labor, financial institutions, community development corporations, voluntary and neighborhood associations, the faith community, and others. The main areas include education, income, and health.

Tides Foundation

The Tides Foundation is an American public charity and fiscal sponsor working to advance progressive causes and policy initiatives in areas such as the environment, health care, labor issues, immigrant rights, LGBTQ+ rights, women's rights and human rights. It was founded in San Francisco in 1976. Through donor advised funds, Tides distributes money from anonymous donors to other organizations, which are often politically liberal. It manages two centers in San Francisco and New York that offer collaborative spaces for social ventures and other nonprofits.

American Cancer Society Health organization seeking to cure and treat cancer

The American Cancer Society (ACS) is a nationwide voluntary health organization dedicated to eliminating cancer. Established in 1913, the society is organized into six geographical regions of both medical and lay volunteers operating in more than 250 Regional offices throughout the United States. Its global headquarters is located in the American Cancer Society Center in Atlanta, Georgia. The ACS publishes the journals Cancer, CA: A Cancer Journal for Clinicians and Cancer Cytopathology.

Fundraising Process of gathering voluntary contributions of money or other resources

Fundraising or fund-raising is the process of seeking and gathering voluntary financial contributions by engaging individuals, businesses, charitable foundations, or governmental agencies. Although fundraising typically refers to efforts to gather money for non-profit organizations, it is sometimes used to refer to the identification and solicitation of investors or other sources of capital for for-profit enterprises.

Financial endowment Donation to a non profit enterprise for ongoing support

A financial endowment is a legal structure for managing, and in many cases indefinitely perpetuating, a pool of financial, real estate, or other investments for a specific purpose according to the will of its founders and donors. Endowments are often structured so that the principal value is kept intact, while the investment income or a small part of the principal is available for use each year.

CharityWatch, formerly known as the American Institute of Philanthropy (AIP), is a 501(c)(3) nonprofit organization in Chicago, created in the United States by Daniel Borochoff in 1992, to provide information about charities' financial efficiency, accountability, governance, and fundraising.

In the United States, a donor-advised fund is a charitable giving vehicle administered by a public charity created to manage charitable donations on behalf of organizations, families, or individuals. To participate in a donor-advised fund, a donating individual or organization opens an account in the fund and deposits cash, securities, or other financial instruments. They surrender ownership of anything they put in the fund, but retain advisory privileges over how their account is invested, and how it distributes money to charities.

The New York Community Trust is the community foundation for New York City, with divisions in Westchester and Long Island. The New York Community Trust connects past, present, and future generous New Yorkers with vital nonprofits working to make a healthy, equitable, and thriving community for all. It is one of the oldest and largest community foundations in the United States and one of the largest funders of New York City’s nonprofits.

Philanthrocapitalism is a way of doing philanthropy, which mirrors the way that business is done in the for-profit world. It may involve venture philanthropy that actively invests in social programs to pursue specific philanthropic goal that would yield return on investment over the long term, or in a more passive form whereby "social investors" benefit from investing in socially-responsible programs.

Clinton Foundation Non-profit organisation in the USA

The Clinton Foundation is a nonprofit organization under section 501(c)(3) of the U.S. tax code. It was established by former President of the United States Bill Clinton with the stated mission to "strengthen the capacity of people in the United States and throughout the world to meet the challenges of global interdependence." Its offices are located in New York City and Little Rock, Arkansas.

Legatum Private investment firm headquartered in Dubai

Legatum Limited, also known as Legatum, is a private investment firm, headquartered in Dubai, United Arab Emirates. Legatum is a partnership that uses its own funds to invest globally. The firm also invests in activities to promote entrepreneurship and free enterprise as well as anti-slavery, health and education initiatives.

Candid is an information service specializing in reporting on U.S. nonprofit companies. In 2016, its database provided information on 2.5 million organizations. In February 2019, GuideStar merged with Foundation Center to become Candid.

National Philanthropic Trust(NPT) is an independent public charity providing philanthropic expertise to donors, foundations and financial institutions. NPT ranks among the largest grantmaking institutions in the United States.

UK Community Foundations (UKCF) is a registered charity that leads a movement of community foundations committed to positive social change in the UK through the development of “community philanthropy”. Community philanthropy involves people from all parts of a community working together locally to use the financial and other resources available to them to improve others’ lives.

Donors Trust is an American non-profit donor-advised fund. It was founded in 1999 with the goal of "safeguarding the intent of libertarian and conservative donors". As a donor advised fund, Donors Trust is not legally required to disclose the identity of its donors, and most of its donors remain anonymous. It distributes funds to various conservative and libertarian organizations, and has been characterized as the "dark money ATM" of the right.

GlobalGiving is 501(c)(3) non-profit organization based in the United States that provides a global crowdfunding platform for grassroots charitable projects. Since 2002, more than 1.1M donors on GlobalGiving have donated move than $530 million to support more than 28,000 projects in 170 countries.

GivingTuesday, often stylized as #GivingTuesday for the purposes of hashtag activism, is the Tuesday after Thanksgiving in the United States. It is touted as a "global generosity movement unleashing the power of people and organizations to transform their communities and the world".

Rick Shangraw

R.F. “Rick” Shangraw Jr. was named president of Cintana Education on May 1, 2020. Previously, he served as chief executive officer of ASU Enterprise Partners from 2016 to 2019. He was chief executive officer of the ASU Foundation for A New American University from 2011 to July 1, 2017, after being appointed to the position by the Arizona State University Foundation board of directors on Oct. 31, 2011 succeeding Johnnie Ray. Previously, Shangraw worked in both the private and public sectors after beginning his career as an assistant professor at Syracuse University.

Charity assessment is the process of analysis of the goodness of a non-profit organization in financial terms. Historically, charity evaluators have focused on the question of how much of contributed funds are used for the purpose(s) claimed by the charity, while more recently some evaluators have placed an emphasis on the cost effectiveness of charities.

LDS Philanthropies Department of The Church of Jesus Christ of Latter-day Saints

Philanthropies, formerly LDS Philanthropies, is a department of The Church of Jesus Christ of Latter-day Saints and is responsible for facilitating donations to humanitarian and educational initiatives. The department works under the direction of the church's Presiding Bishop. The most widely known educational projects are the operation of church-owned schools, such as Brigham Young University (BYU). Humanitarian funds are given to Latter-day Saint Charities which sponsors and organizes relief efforts. In 2019, the church reported over 3,000 community-based projects with an excess of 2,000 partners, in locations around the world.

References

  1. "ASU Foundation 2019-2020 Audited Financial Statements" (PDF). asufoundation.org. ASU Foundation. 30 June 2020. Retrieved 2020-12-18.
  2. "About ASU Foundation | Arizona State University". www.asufoundation.org. Retrieved 2020-12-18.
  3. "About ASU Foundation | Arizona State University". www.asufoundation.org. Retrieved 2020-12-18.
  4. Crow, Michael and William Dabars (2015). Designing the New American University. Johns Hopkins University Press. p. 360. ISBN   9781421417233 . Retrieved 3 August 2016.
  5. "About ASU Foundation | Arizona State University". www.asufoundation.org. Retrieved 2020-12-18.
  6. "Charity Navigator - Rating for ASU Foundation". Charity Navigator. Retrieved 2020-12-18.
  7. "Guidestar - Arizona State University Foundation". www.guidestar.org. Retrieved 2020-12-18.
  8. Companies, Top. "Story from Top Companies to Work for in Arizona 2020: Top Companies to Work for in Arizona - 2020". The Arizona Republic. Retrieved 2020-12-18.