2014-02-18T13:53:51-06:00 2013-06-30 JONES & COMPANY LTD 501 SOUTHWEST DR JONESBORO AR 724015858 990 2012-07-01 710489924 ARKANSAS STATE UNIVERSITY FOUNDATION ARKA 8709722775 PO BOX 1990 STATE UNIVERSITY AR 72467 PHILIP JACKSON 8709722775 2014-02-07 false CHERYL DEEN CPA 8709352871 2014-02-18 2012 2015-11-30 17:44:51Z PHILIP JACKSON PO BOX 1990 STATE UNIVERSITY AR 72467 8091715 false X WWW.ASTATEFOUNDATION.ORG X 1977 AR 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. 20 19 0 21 0 3564263 5933830 0 840196 911522 956889 743827 5361348 7589179 0 0 336695 325437 0 401273 1282088 1416860 1618783 1742297 3742565 5846882 49610857 55659186 9397759 10089497 40213098 45569689 X 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. false false 642184 PROGRAM TITLE: ASU ACADEMIC SUPPORT THE ARKANSAS STATE UNIVERSITY FOUNDATION, INC. PROVIDES FINANCIAL ASSISTANCE TO ALL MEMBER CAMPUSES OF THE ARKANSAS STATE UNIVERSITY 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. 129658 PROGRAM TITLE: ADMINISTRATIVE SUPPORT THE ARKANSAS STATE UNIVERSITY FOUNDATION, INC. PROVIDES FINANCIAL ASSISTANCE TO ALL MEMBER CAMPUSES OF THE ARKANSAS STATE UNIVERSITY 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 AND DIVERSITY INITIATIVES BY SUPPLEMENTING UNIVERSITY BUDGETS FOR SUPPLIES AND SERVICES, TRAVEL, EQUIPMENT, TECHNOLOGY, HUMAN RESOURCES AND ALL OTHER COSTS RELATED TO THE UNIVERSITY'S ADMINISTRATIVE MISSIONS. 50934 PROGRAM TITLE: ASU STUDENT SUPPORT THE ARKANSAS STATE UNIVERSITY FOUNDATION, INC. PROVIDES FINANCIAL ASSISTANCE TO STUDENTS AT ALL MEMBER CAMPUSES OF THE ARKANSAS STATE UNIVERSITY SYSTEM THROUGH ACADEMIC SCHOLARSHIPS, AWARDS, STIPENDS, GRANTS AND GENERAL SUPPORT FOR VARIOUS STUDENT ACTIVITIES. THE MAJORITY OF FINANCIAL ASSISTANCE TO STUDENTS ARE MADE BY WAY OF TRANSFERS TO ARKANSAS STATE UNIVERSITY. 822776 true true false false false false false false false true true false false false true false true false false false false false false false false false false false false true false false false false false false false false true true false false false true false true false true 0 0 true 0 false false false false false false false false false false false false false X 20 19 false false false false false false false true true false false true true true true true true false false false AR X X PHILIP JACKSON 8709722775 PO BOX 1990 STATE UNIVERSITY AR 724671990 STEVE OWENS 30.00 X X 0 132103 36260 BOBBY CALDWELL 1.00 X 0 0 0 BOB EARWOOD 1.00 X 0 0 0 JOE MILES 1.00 X 0 0 0 RANDALL POPE 1.00 X 0 0 0 KEN BENNETT 1.00 X 0 0 0 DOUG COY 1.00 X 0 0 0 THOM BEASLEY 1.00 X 0 0 0 HAZEL DICKEY 1.00 X 0 0 0 JUDIOUS LEWIS 1.00 X 0 0 0 GARY PUGH 1.00 X 0 0 0 ROGER POHLNER 1.00 X 0 0 0 CHARLES WELCH 1.00 X 0 0 0 NESS SECHREST 1.00 X 0 0 0 MELISSA LIVINGSTON 1.00 X 0 0 0 DON WINTON 1.00 X 0 0 0 CHARLOTTE RAZER 1.00 X 0 0 0 HERMAN STRICKLAND JR 1.00 X 0 0 0 PHILIP JACKSON 40.00 X 0 92900 24157 PAM KAIL 1.00 X 0 0 0 225003 60417 false true false 5933830 1333376 5933830 893498 893498 520560 502536 18024 18024 18024 OTHER REVENUE 743827 743827 743827 7589179 18024 1637325 X 248104 248104 77333 77333 31603 878 30725 10708 10708 54579 7829 46750 19746 5459 10516 3771 10128 216 9912 67916 28779 6906 32231 8905 7998 382 525 594 526 68 63477 8504 54973 26148 1375 13699 11074 OTHER EXPENSES 367757 366753 1004 SUPPLIES 271298 158566 16499 96233 BUSINESS MEALS & ENTERTAI 124551 54127 4691 65733 HONORARIUM & CONTRACT SER 83593 15429 68164 275857 155629 43436 76792 1742297 822776 518248 401273 255258 292983 6938692 8915701 1460664 1442071 6121 10269 1458346 392530 1106514 1065816 39707885 43435682 128223 485789 7500 10875 49610857 55659186 38000 81643 21423 4053 9338336 10003801 9397759 10089497 X 2436225 2461558 5873738 8556041 31903135 34552090 40213098 45569689 49610857 55659186 5846882 2045750 355876 -2891917 X false true X true false X 13092873 5165342 3613414 3564263 5933830 31369722 472475 377978 402622 340266 355876 1949217 13565348 5543320 4016036 3904529 6289706 33318939 12940302 20378637 779134 742850 809701 855074 893498 4080257 1232329 897405 699441 956889 743827 4529891 41929087 0.48600 0.48040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31903135 1138421 2833287 1322753 34552090 31964326 762803 1486 825480 31903135 29030722 513738 3268875 849009 31964326 25076402 461217 4046843 553740 29030722 32342698 514499 -7032106 748689 25076402 0.00950 0.99050 false false 110093 110093 1088150 220350 867800 260103 172180 87923 1065816 AMOUNTS HELD ON BEHALF OF ASU 9892101 ANNUITIES PAYABLE 111700 10003801 9990805 2045750 355876 2401626 7589179 7589179 4634214 2891917 2891917 1742297 1742297 INTENDED USES FOR ENDOWMENT FUNDS SCHEDULE D, PAGE 2, PART V, LINE 4 INVESTMENT RETURN OBJECTIVES, RISK PARAMETERS AND STRATEGIES: THE FOUNDATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES, APPROVED BY THE BOARD OF TRUSTEES, FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT FUNDS WHILE ALSO MAINTAINING THE PURCHASING POWER OF THOSE ENDOWMENT ASSETS OF THE LONG-TERM. ACCORDINGLY, THE INVESTMENT PROCESS SEEKS TO ACHIEVE AN AFTER-COST TOTAL REAL RATE OF RETURN, INCLUDING INVESTMENT INCOME AS WELL AS CAPITAL APPRECIATION, WHICH EXCEEDS THE ANNUAL DISTRIBUTION WITH ACCEPTABLE LEVELS OF RISK. ENDOWMENT ASSETS ARE INVESTED IN A WELL DIVERSIFIED ASSET MIX, WHICH INCLUDES EQUITY AND DEBT SECURITIES, THAT IS INTENDED TO RESULT IN A CONSISTENT INFLATION-PROTECTED RATE OF RETURN THAT HAS SUFFICIENT LIQUIDITY TO MAKE AN ANNUAL DISTRIBUTION OF 5%, WHILE GROWING THE FUNDS IF POSSIBLE. THEREFORE, THE ORGANIZATION EXPECTS ITS ENDOWMENT ASSETS, OVER TIME, TO PRODUCE AN AVERAGE RATE OF RETURN OF APPROXIMATELY 8% ANNUALLY. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. INVESTMENT RISK IS MEASURED IN TERMS OF THE TOTAL ENDOWMENT FUND; INVESTMENT ASSETS AND ALLOCATION BETWEEN ASSET CLASSES AND STRATEGIES ARE MANAGED TO NOT EXPOSE THE FUND TO UNACCEPTABLE LEVELS OF RISK. SPENDING POLICY: THE FOUNDATION HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 5% OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OF THE PRIOR FIVE CALENDAR YEAR-ENDS FOR MOST OF ITS ENDOWMENTS. IN ESTABLISHING THIS POLICY, THE ORGANIZATION CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS INVESTMENT ASSETS, THE NATURE AND DURATION OF THE INDIVIDUAL ENDOWMENT FUNDS, MANY OF WHICH MUST BE MAINTAINED IN PERPETUITY BECAUSE OF DONOR- RESTRICTIONS, AND THE POSSIBLE EFFECTS OF INFLATION. THE ORGANIZATION EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT FUNDS TO GROW AT A NOMINAL AVERAGE RATE OF 3% ANNUALLY, WHICH IS CONSISTENT WITH THE ORGANIZATION'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH INVESTMENT RETURN. INTENDED USE: ENOWMENT FUNDS ARE INTENDED TO BE KEPT IN PERPITUITY TO PROVIDE INCOME FOR SUPPORT OF VARIOUS ACADEMIC FUNCTIONS WITH MEMBERS CAMPUSES OF THE ASU SYSTEM. EXPENSE AMOUNTS INCLUDED IN FINANCIALS - OTHER SCHEDULE D, PAGE 4, PART XII, LINE 2D TRANSFERS TO ASU 2,888,267 TRANSFERS TO THE ALUMNI ASSOCIATION 2,192 TRANSFERS TO THE RED WOLF CLUB 1,458 X true true false false false false false false false false false STEVE OWENS 132103 36260 168363 183718 X 14 643700 FAIR MARKET VALUE X 155 105200 FAIR MARKET VALUE X 400 FAIR MARKET VALUE X 5 373720 STOCK MARKET X 1 100000 FAIR MARKET VALUE X FUNDRAISING ITE 189 28284 FAIR MARKET VALUE X ADVERTISING SER 13 61198 FAIR MARKET VALUE X EQ. & BLDG. REN 2 10750 FAIR MARKET VALUE X LIVESTOCK & SUP 6 10124 FAIR MARKET VALUE false true false ORGANIZATION'S MISSION FORM 990 - ORGANIZATION'S MISSION 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. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF THE FORM 990 WAS REVIEWD BY THE TREASURER AND AUDIT COMMITTEE OF THE EXEMPT ORGANIZATION BEFORE THE RETURN WAS FILED. ENFORCEMENT OF CONFLICTS POLICY FORM 990, PAGE 6, PART VI, LINE 12C AT THE FIRST BOARD MEETING FOLLOWING THE ANNUAL BOARD MEETING, AND AT THE FIRST MEETING OF EACH COMMITTEE WITH BOARD-DELEGATED POWERS FOLLOWING THE ANNUAL BOARD MEETING, AND AT SUCH OTHER TIMES AS THE BOARD OR EXECUTIVE COMMITTEE MAY DEEM APPROPRIATE, THE BOARD, OR EXECUTIVE COMMITTEE SHALL CONDUCT A REVIEW OF THE FOUNDATION'S ACTIVITIES TO ENSURE THAT THE FOUNDATION IS OPERATING IN A MANNER CONSISTENT WITH ACCOMPLISHING ITS CHARITABLE PURPOSES AND THAT ITS OPERATIONS DO NOT RESULT IN PRIVATE INUREMENT OR IMPERMISSIBLE BENEFIT TO PRIVATE INTERESTS. IN THE INSTANCE WHERE A CONFLICT OF INTEREST ARISES, THE BOARD OR EXECUTIVE COMMITTEE SHALL: (1) REQUIRE THE INTERESTED PERSON TO LEAVE THE MEETING DURING THE DISCUSSION OF, AND VOTE ON, THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST; PROVIDED, HOWEVER, THAT THE INTERESTED PERSON MAY MAKE A PRESENTATION AT THE MEETING PRIOR TO LEAVING; (2) APPOINT, IF IT DEEMS APPROPRIATE, A NON-INTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT; AND (3) DETERMINE, BY A MAJORITY VOTE WITHOUT THE INTERESTED PERSON VOTING, THAT THE TRANSACTION OR ARRANGEMENT IS IN THE FOUNDATION'S BEST INTERESTS AND FOR ITS OWN BENEFIT; IS FAIR AND REASONABLE TO THE FOUNDATION; AND, AFTER EXERCISING DUE DILIGENCE, DETERMINE THAT THE FOUNDATION CANNOT OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS UNDER THE CIRCUMSTANCES. ANY INTERESTED PERSON WHO VIOLATES THIS CONFLICT OF INTEREST POLICY SHALL BE SUBJECT TO APPROPRIATE DISCIPLINE INCLUDING REMOVAL FROM OFFICE. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE DIRECTOR'S COMPENSATION IS NOT REVIEWED BY THE FINANCE COMMITTEE, HOWEVER THE SALARY IS DEFINED IN ACCORDANCE WITH THE STATE OF ARKANSAS' PAY SCALES. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S POLICY DOCUMENTS AND FINANCIAL STATMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. OTHER EXPENSES FORM 990, PART IX, LINE 24E EQUIPMENT RENTAL 9,587 2,500 34,024 EMPLOYEE AWARD 29,898 0 0 MUSIC PERFORMANCE 14,636 0 14,928 CONTRIBUTIONS & GRANTS 28,014 25 1,140 SPECIAL EVENTS 5,291 0 21,382 REPAIRS & MAINTENANCE 3,374 22,849 53 DUES & MEMBERSHIPS 16,626 1,041 0 FLORIST 8,286 1,011 2,215 STUDENT AWARDS 7,812 0 0 EXHIBIT AWARDS 7,762 0 0 CREDIT CARD FEES 0 7,577 30 SCHOLARSHIPS 6,350 0 0 STUDENT INTERNSHIPS 6,000 0 0 TELEPHONE 0 4,663 0 TRAINING & DEVELOPMENT 300 3,704 0 EMERGENCY ASSISTANCE 3,485 0 0 STUDENT STIPENDS 3,475 0 0 APPRAISAL SERVICES 2,750 0 0 DONOR ACKNOWLEDGEMENT 0 0 2,625 FACULTY AWARD 1,751 0 0 TAXES & LICENSES 0 66 395 EXHIBIT SUPPLIES 200 0 0 HOSPITALITY 32 0 0 RECONCILIATION OF CHANGES - OTHER FORM 990, PART XI, LINE 9 TRANSFERS TO ASU -2,888,267 TRANSFERS TO THE ALUMNI ASSOCIATION -2,192 TRANSFERS TO THE RED WOLF CLUB -1,458 ASU - JONESBORO 2105 EAST AGGIE JONESBORO AR 72401 716000556 EDUCATIONA AR 115A N/A false ASU - BEEBE 1000 IOWA ST BEEBE AR 72012 710421333 EDUCATIONA AR 115A N/A false ASU - MOUNTAIN HOME 1600 SOUTH COLLEGE MOUNTAIN HOME AR 72653 621687591 EDUCATIONA AR 115A N/A false ASU - NEWPORT 7648 VICTORY BLVD NEWPORT AR 72112 710855933 EDUCATIONA AR 115A N/A false ASU ALUMNI ASSOCIATION INC 2600 ALUMNI BLVD JONESBORO AR 72401 581723646 ALUMNI AR 501C7 N/A false ASU RED WOLF CLUB INC 1000 OPLYMPIC DR JONESBORO AR 72401 710526367 BOOSTER AR 501C3 5 N/A false false true false false false false false false false false false false false false false false false false false ASU - JONESBORO B 2536750 CASH ASU - BEEBE B 36078 CASH ASU - MOUNTAIN HOME B 207765 CASH ASU - NEWPORT B 107674 CASH ASU ALUMNI ASSOCIATION INC B 2192 CASH ASU RED WOLF CLUB INC B 1458 CASH