ARIZONA STATE UNIVERSITY FOUNDATION FOR A NEW AMERICAN UNIVERSITY (EIN 866051042) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1955

Legal Domicile

Principal Officer

GRETCHEN BUHLIG

Phone

4809653759

Tax Period

2024-07-01 to 2025-06-30

ARIZONA STATE UNIVERSITY FOUNDATION FOR A NEW AMERICAN UNIVERSITY, founded in 1955, is a major nonprofit in the Education sector that reported $452.6M in total revenue in fiscal year 2024. Revenue surged 64% from the prior year, signaling strong growth momentum. The organization ran a surplus of $217.3M, a strong 48% operating margin.

Mission

THE ASU FOUNDATION FOR A NEW AMERICAN UNIVERSITY ("ASUF") IS A PRIVATE, NONPROFIT ORGANIZATION THAT RAISES AND MANAGES PRIVATE CONTRIBUTIONS TO SUPPORT THE WORK OF ARIZONA STATE UNIVERSITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $362,370,199

Program Service Revenue $841,083

Investment Income $84,620,684

Other Revenue $4,763,952

TOTAL REVENUE $452,595,918

Expense Breakdown

Grants Paid $193,382,473

Salaries & Benefits $20,823,973

Fundraising Expenses $25,491,146

Program Expenses $207,823,479

Other Expenses $19,939,531

TOTAL EXPENSES $235,333,977

Year-over-Year Comparison

	2024	2023	Change
Revenue	$452,595,918	$276,143,909	+0.6%
Expenses	$235,333,977	$213,676,231	+0.1%
Net Income	$217,261,941	$62,467,678	+2.5%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

255

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,126,489

Total Directors

$708,275

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GRETCHEN BUHLIG	CHIEF EXECUTIVE OFFICER ASUF	50.00	Officer Director	$621,255	$87,020	$708,275
JOHN W GRAHAM	CHAIR	1.00	Officer Director	$0	$0	$0
JUANITA F FRANCIS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
NICOLE COLYER	SECRETARY (THRU 8/24)	1.00	Officer Director	$0	$0	$0
ANNE MARIUCCI	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS HOWARD	DIRECTOR	1.00	Director	$0	$0	$0
DENISE RESNIK	DIRECTOR	2.00	Director	$0	$0	$0
DOUG FULTON	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL M CROW	ASU PRESIDENT	1.00	Director	$0	$0	$0
MORGAN OLSEN	DIRECTOR	1.00	Director	$0	$0	$0
HARRY A PAPP	DIRECTOR	2.00	Director	$0	$0	$0
HIROSHI HAMADA	DIRECTOR	1.00	Director	$0	$0	$0
IRA A FULTON	DIRECTOR	2.00	Director	$0	$0	$0
JAY HEILER	DIRECTOR	2.00	Director	$0	$0	$0
JAZMIN MEDINA	DIRECTOR	1.00	Director	$0	$0	$0
LAUREN BAILEY	DIRECTOR	2.00	Director	$0	$0	$0
LISA LOO	DIRECTOR	1.00	Director	$0	$0	$0
LISA URIAS	DIRECTOR	1.00	Director	$0	$0	$0
MALISSIA CLINTON	DIRECTOR	2.00	Director	$0	$0	$0
MARY HENTGES	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL AGUIRRE	DIRECTOR	1.00	Director	$0	$0	$0
ROGER WITTLIN	SENIOR INVESTMENT ADVISOR	1.00	Director	$0	$0	$0
SATJIV CHAHIL	DIRECTOR	1.00	Director	$0	$0	$0
STEVE EVANS	DIRECTOR	1.00	Director	$0	$0	$0
TONY SARSAM	DIRECTOR	2.00	Director	$0	$0	$0
MEGAN BEUS	DIRECTOR	1.00	Director	$0	$0	$0
VIRGINIA DESANTO	VICE PRESIDENT, CFO & TREASURER	8.00	Officer	$0	$44,812	$340,751
MACKENZIE WOODS	GENERAL COUNSEL, SECRETARY (AS OF 9/24)	1.00	Officer	$0	$12,087	$77,463
ERIC SPICER	VICE PRESIDENT UNIT DEVELOPMENT	40.00	Highest	$302,516	$45,920	$348,436
CARLY NIERI	EXECUTIVE DIRECTOR OF DEVELOPMENT	40.00	Highest	$302,213	$49,229	$351,442
PATRICK MCDERMOTT	CHIEF GLOBAL ADVANCEMENT OFFICER	40.00	Highest	$297,240	$48,286	$345,526
JACQUELINE SMITH	SENIOR VICE PRESIDENT	40.00	Highest	$296,319	$56,991	$353,310
BILL KAVAN	VICE PRESIDENT ENGAGEMENT & OUTREACH	40.00	Highest	$296,173	$44,253	$340,426

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$452,595,918	$235,333,977	$2,304,463,852	$217,261,941
2024	$276,143,909	$213,676,231	$2,038,433,605	$62,467,678
2023	$299,319,127	$173,459,672	$1,879,923,397	$125,859,455
2022	$295,474,196	$172,089,032	$1,713,596,162	$123,385,164
2021	$233,378,142	$141,528,221	$1,623,439,615	$91,849,921
2020	$234,163,963	$167,164,857	$1,302,658,843	$66,999,106
2019	$246,041,374	$137,224,151	$1,250,283,209	$108,817,223

ARIZONA STATE UNIVERSITY FOUNDATION FOR A NEW AMERICAN UNIVERSITY