Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2016.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
73 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
20 people listed on the 990; $3.8M paid to officers and key staff.
Augustine Cheng’s $596K as Managing Director & CEO (si) is at the 94th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Daniel Dillon | $177,026 | $824,034 | $795,656 | $761,014 | $563,463 |
| Augustine Cheng | $595,793 | $611,701 | $619,800 | $603,900 | $618,233 |
| Mitchell Levin Thru 011521 | — | — | — | $142,599 | $516,336 |
| Jeff Mindlin | $383,722 | $372,431 | $359,841 | $299,390 | — |
| Jeff Roberts | $347,460 | $378,163 | $370,308 | $295,986 | — |
| Meridith Rentz | $370,713 | — | — | — | — |
| Virginia Desanto | — | — | — | $280,300 | $338,015 |
| Kyle Siegal | $328,679 | $307,117 | $271,842 | $251,281 | $238,815 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Raises funds and invests in initiatives to support Arizona State University.
Questions for Asu Enterprise Partners
Your first name shows with your question. Asu Enterprise Partners answers here, for everyone.
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See schedule oprogram service activity #3EP manages investment pools and programs that generate revenue through investments in education technology companies and an angel investor membership program to advance asu-affiliated startups.
See schedule oprogram service activity #1EP through its subsidiary university realty aims to advance asu by accepting and monetizing commercial office, retail, multifamily buildings, as well as vacant land received from philanthropic real estate gifts from donors.
See schedule oprogram service activity #2EP through its subsidiary skysong innovations works with asu faculty, postdocs, and students to translate their research innovations into commercial applications.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $11.8M | $9.0M |
| InvestmentsLn 11–13 | $237.0M | $252.4M |
| Land, buildings, equipmentLn 10c | $92.5M | $63.2M |
| Total assetsLn 16 | $381.1M | $361.8M |
| LiabilitiesLn 26 | $175.2M | $142.9M |
| Net assetsLn 32 | $205.9M | $218.9M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $15.3M | $15.3M | ||
| Pay of current officers, directors and key staffLn 5 | $980K | $196K | $588K | $196K |
| Other salaries and wagesLn 7 | $4.9M | $1.3M | $3.4M | $252K |
| Pension plan contributionsLn 8 | $299K | $71K | $228K | |
| Other employee benefitsLn 9 | $1.1M | $98K | $952K | $75K |
| Payroll taxesLn 10 | $373K | $72K | $301K | |
| Management feesLn 11a | $50K | $50K | ||
| Legal feesLn 11b | $1.2M | $898K | $269K | |
| Accounting feesLn 11c | $74K | $8K | $66K | |
| Lobbying feesLn 11d | $260K | $260K | ||
| Investment management feesLn 11f | $472K | $472K | ||
| Other fees for servicesLn 11g | $1.1M | $434K | $695K | |
| Advertising and promotionLn 12 | $7K | $2K | $5K | |
| Office expensesLn 13 | $1.5M | $1.2M | $283K | $4K |
| Information technologyLn 14 | $1.2M | $1.2M | ||
| OccupancyLn 16 | $3.0M | $3.0M | $24K | |
| TravelLn 17 | $118K | $3K | $115K | |
| Conferences, conventions and meetingsLn 19 | $48K | $622 | $48K | |
| InterestLn 20 | $932K | $873K | $59K | |
| InsuranceLn 23 | $281K | $62K | $219K | |
| Other expenses (24a–d)Ln 24 | $2.5M | $2.2M | $286K | |
| Total functional expensesLn 25 | $35.8M | $26.2M | $9.0M | $527K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $26.1M | $25.5M | $663K | $273.0M | 990 PDF |
| FY2024 | $14.1M | $24.2M | −$10.1M | $235.8M | 990 PDF |
| FY2023 Viewing | $17.5M | $35.8M | −$18.2M | $218.9M | 990 PDF |
| FY2022 | $24.0M | $29.5M | −$5.6M | $205.9M | 990 PDF |
| FY2021 | $28.6M | $18.5M | $10.1M | $136.0M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $17,546,517 revenue, 12 lines filed
Part VI · Governance 8 of 11 board members independent, no flags
Part VIII · Statement of revenue $17,546,517 across 9 lines filed
Part IX · Statement of functional expenses $35,781,750 across 21 lines filed
Part X · Balance sheet $361,760,963 assets, 17 lines filed
Part XI · Reconciliation of net assets $218,895,578 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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