2026-05-13T13:39:58-05:00 2025-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 6320 CANOGA AVENUE 17TH FLOOR WOODLAND HILLS CA 91367 990 2024-07-01 900868685 ASU RESEARCH ENTERPRISE ASUR 4809653759 PO BOX 2260 TEMPE AZ 852802260 VIRGINIA E DESANTO VP & CFO 4809651791 2026-05-05 1 1 QI WEN LIANG P01270238 8185771900 2026-05-05 2024 2025-03-06 01:10:19Z SCOTT SMAS PO BOX 2260 TEMPE AZ 852802260 842846 0 X HTTP://ASURE.ASU.EDU X 2012 AZ EXTEND ASU'S REACH TO MEET ITS RESEARCH GOALS THROUGH THE CULTIVATION AND EXECUTION OF APPLIED R&D. 3 3 13 5 0 0 170000 0 1816879 796246 0 0 15433 46600 2002312 842846 645553 143945 0 0 314522 70044 0 0 0 215446 57669 1175521 271658 826791 571188 1242408 1411825 794485 392714 447923 1019111 SEE SCHEDULE O 0 0 166345 143945 796246 GROW ASU RESEARCH ENTERPRISE (ASURE) INTO A RECOGNIZED LEADER IN TECHNOLOGY INNOVATION THROUGH APPLIED RESEARCH AND DEVELOPMENT IN ORDER TO STRENGTHEN ASU'S REACH, REPUTATION, AND IMPACT ON THE TOUGHEST CHALLENGES FACING NATIONAL SECURITY AND GLOBAL WELL-BEING. 166345 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 7 0 1 13 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X VIRGINIA E DESANTO 4809657825 PO BOX 2260 TEMPE AZ 852802260 X VIRGINIA E DESANTO FORMER TREASURER 1.00 49.00 X 0 295939 44812 RAJA SURESH MANAGING DIRECTOR (THRU 6/24) 50.00 X 231036 0 11373 ERIK MERCADO DIRECTOR OF RESEARCH COMPLIANCE SVCS. 40.00 X 136936 0 46425 TED SENATOR MEMBER OF RESEARCH STAFF (THRU 3/25) 40.00 X 133953 0 18918 BEN STRASSER LD. PRIN. ENG. RES. SCI. (THRU 3/25) 40.00 X 180401 0 33548 ANTHONY BLOCH PRINCIPAL ENGINEER (THRU 3/25) 40.00 X 172572 0 17009 SANCHARI SEN PRINCIPAL ENGINEER 40.00 X 104229 0 17163 ANA ABASTA EXEC. ASST./ OFFICE MGR./SECRETARY 40.00 X 64293 0 23540 MATT HULVER INTERIM MANAGING DIRECTOR (FROM 7/24 UNTIL 4/25) 50.00 X X 0 0 0 SCOTT SMAS INTERIM MANAGING DIRECTOR (AS OF 4/25) 50.00 X X 0 0 0 RF SHANGRAW JR CHAIR 1.00 X X 0 0 0 SALLY MORTON VICE CHAIR 1.00 1.00 X X 0 0 0 RYAN GIVEN TREASURER 1.00 X 0 0 0 1023420 295939 212788 6 1 1 0 SANGRAM REDKAR 6287 S ROCHESTER DR GILBERT AZ 85298 CONSULTANT 193311 ALLIED UNIVERSAL SECURITY SERVICES 161 WASHINGTON ST STE 600 CONSHOHOCKEN PA 19428 SECURITY SERVICES 138065 2 RESEARCH CONTRACTS 541700 796246 796246 796246 OTHER INCOME 900099 46600 46600 46600 842846 796246 0 46600 143945 143945 4808 4808 48354 9378 38976 2533 2533 9956 105 9851 4393 4393 1689 1689 12237 8722 3515 2810 244 2566 8555 809 7746 10814 10814 1653 624 1029 147 137 10 274 274 16628 16628 PROJECT MATERIALS 2491 2358 133 FEES AND SUBSCRIPTIONS 293 15 278 MEALS AND CULTIVATION 78 8 70 271658 166345 105313 0 424332 1280835 752299 63495 67495 0 65777 67495 1242408 1411825 530942 233347 58747 0 204796 159367 794485 392714 X 447923 1019111 447923 1019111 1242408 1411825 571188 0 X 0 1 X 1 0 X 170000 170000 57625521 8177752 806885 1816879 796246 69223283 57625521 8177752 806885 1986879 796246 69393283 0 0 0 69393283 2824 26613 2240 15433 46600 93710 57628345 8204365 809125 2002312 842846 69486993 0.99870 0.99900 0.00000 0.00000 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 2,824. 2021 AMOUNT: $ 26,613. 2022 AMOUNT: $ 2,240. 2023 AMOUNT: $ 15,433. 2024 AMOUNT: $ 46,600. 67495 67495 67495 PAYROLL LIABILITIES 91872 RIGHTS OF USE LEASE LIABILITY 67495 159367 X 3228167 35321 2350000 2385321 842846 0 842846 2656979 35321 2350000 2385321 271658 0 271658 PART X, LINE 2: ASURE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND IS FURTHER CLASSIFIED AS A PUBLIC CHARITY AS DESCRIBED IN SECTIONS 509(A)(1) AND 170(B)(1)(A)(IV) OF THE INTERNAL REVENUE CODE. THOUGH GENERALLY TAX-EXEMPT IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSES, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE ORGANIZATION HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE ORGANIZATION FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE TAX YEARS ENDING JUNE 30, 2025, 2024, 2023, 2022, AND 2021 ARE STILL OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AS OF JUNE 30, 2025 AND 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: SERVICE AGREEMENT REIMBURSEMENT 2,350,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: SERVICE AGREEMENT REIMBURSEMENT 2,350,000. 1 ARIZONA STATE UNIVERSITY PO BOX 870502 TEMPE AZ 85287 860196696 115 143945 0 PROGRAM SUPPORT 1 0 PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS GRANTS MADE ARE MONITORED THROUGH RESEARCH SUBAWARDS. X 1 0 0 0 0 0 0 0 0 1 0 VIRGINIA E DESANTO FORMER TREASURER 0 287262 0 8677 0 0 0 20770 0 24042 0 340751 0 0 RAJA SURESH MANAGING DIRECTOR (THRU 6/24) 173801 0 22500 0 34735 0 10904 0 469 0 242409 0 0 0 ERIK MERCADO DIRECTOR OF RESEARCH COMPLIANCE SVCS 132704 0 4212 0 20 0 10193 0 36232 0 183361 0 0 0 TED SENATOR MEMBER OF RESEARCH STAFF (THRU 3/25) 122250 0 0 0 11703 0 8076 0 10842 0 152871 0 0 0 BEN STRASSER LD. PRIN. ENG. RES. SCI. (THRU 3/25) 111582 0 60000 0 8819 0 10181 0 23367 0 213949 0 0 0 ANTHONY BLOCH PRINCIPAL ENGINEER (THRU 3/25) 107658 0 20000 0 44914 0 8817 0 8192 0 189581 0 0 0 PART I, LINE 1A THE MANAGING DIRECTOR RECEIVES A HOUSING ALLOWANCE, WHICH IS TREATED AS TAXABLE COMPENSATION ON FORM W-2 AND REPORTED ON SCHEDULE J, PART II, COLUMN B(III). PART I, LINE 7 NON-FIXED PAYMENTS BONUSES ARE GIVEN ON A DISCRETIONARY BASIS BASED ON PERFORMANCE REVIEWS AT THE END OF THE YEAR. SCHEDULE J, PART II: COMPENSATION FOR MATT HULVER WAS PAID BY ARIZONA STATE UNIVERSITY, AN UNRELATED ORGANIZATION. THE ORGANIZATION MADE A REASONABLE, GOOD-FAITH EFFORT TO OBTAIN COMPENSATION INFORMATION FROM THE UNIVERSITY, BUT WAS UNABLE TO SECURE THE INFORMATION. ACCORDINGLY, THE COMPENSATION PAID BY THE UNIVERSITY IS NOT REPORTED ON THE FORM 990, PART VII AND SCHEDULE J. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: EXTEND ASU'S REACH TO MEET ITS RESEARCH GOALS THROUGH THE CULTIVATION AND EXECUTION OF APPLIED RESEARCH AND DEVELOPMENT FOR THE TRANSITION OF TECHNOLOGY AND INNOVATION INTO LATER-STAGE READINESS LEVELS AND BY OPERATIONALIZING AGILE MANAGERIAL SERVICES TO DELIVER MATURED SOLUTIONS THAT ADVANCE NATIONAL SECIRUTY AND GLOBAL HUMANITY CHALLENGES. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OR STOCKHOLDERS ASU ENTERPRISE PARTNERS ("EP") SERVES AS THE SOLE MEMBER OF THE ORGANIZATION, AND PROVIDES IT WITH VARIOUS SUPPORTING SERVICES, SUCH AS LEGAL, HUMAN RESOURCES, FINANCIAL, MARKETING AND TECHNICAL SERVICES. FORM 990, PART VI, SECTION A, LINE 7A POWER TO ELECT PER THE BYLAWS OF ASURE, THE FOLLOWING ACTIONS SHALL NOT BE TAKEN BY THE CORPORATION WITHOUT THE APPROVAL OF THE MEMBER: ELECTION AND REMOVAL OF DIRECTORS OTHER THAN EX OFFICIO DIRECTORS OR DIRECTORS DESIGNATED AS "KEY MANAGEMENT PERSONNEL" FOR PURPOSES OF MAINTAINING COMPLIANCE WITH CERTAIN FEDERAL SECURITY CLEARANCE REQUIREMENTS, AMENDMENT OF THE ARTICLES OF INCORPORATION OF THE CORPORATION, AMENDMENT OF THE BYLAWS OF THE CORPORATION, MERGER, CONSOLIDATION OR DISSOLUTION OF THE CORPORATION, AND THE CREATION OF ANY SUBSIDIARIES OR AFFILIATES OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS SUBJECT TO APPROVAL SEE PART VI, LINE 7A DISCLOSURE FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS ASURE'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. THE DRAFT IS SUBMITTED TO ASURE'S MANAGEMENT AND TREASURER FOR REVIEW AND ACCURACY OF REPORTING. A FULL COPY OF THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD OF DIRECTORS. IT IS THEN SIGNED BY THE TREASURER AND SUBMITTED ELECTRONICALLY TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C PROCESS FOR MONITORING AND ENFORCEMENT OF CONFLICT OF INTEREST POLICY UPON HIRE AND ON AN ANNUAL BASIS, ALL EMPLOYEES ARE REQUIRED TO DISCLOSE ANY CONFLICTS OR POTENTIAL CONFLICTS RELATED TO THEIR INVOLVEMENT WITH ASURE. IN ADDITION, ANY TIME THE EMPLOYEE BECOMES AWARE OF A NEW CONFLICT, THEY ARE REQUIRED TO SUBMIT AN UPDATED CONFLICT OF INTEREST/COMMITMENT FORM TO EP'S GENERAL COUNSEL. ANY IDENTIFIED CONFLICTS WOULD BE REVIEWED BY THE BOARD CHAIR AND THE MANAGING DIRECTOR TO DETERMINE ANY MITIGATION ACTIONS NEEDED. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR ESTABLISHING COMPENSATION OF PRESIDENT/CEO AND KEY EMPLOYEES THE MANAGING DIRECTOR'S COMPENSATION IS DETERMINED AND PAID BY ARIZONA STATE UNIVERSITY; AS SUCH, LINES 15A AND 15B HAVE BEEN ANSWERED "NO" AS REQUIRED BY THE FORM 990 INSTRUCTIONS. IF ASURE BEGINS COMPENSATING THE MANAGING DIRECTOR (OR OTHER TOP MANAGEMENT OFFICIAL), THE BOARD OF DIRECTORS WILL APPROVE THE COMPENSATION PACKAGE FOR THE MANAGING DIRECTOR IN RELIANCE ON A REASONABLENESS OPINION PROVIDED BY AN INDEPENDENT COMPENSATION CONSULTANT. THE MANAGING DIRECTOR MAKES COMPENSATION DECISIONS FOR ALL OTHER EMPLOYEES IN RELIANCE ON MARKET COMPARABILITY DATA PREPARED BY INDEPENDENT COMPENSATION CONSULTANTS. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS MADE AVAILABLE TO THE PUBLIC THE FORM 1023 AND FORM 990 FOR ASURE ARE AVAILABLE UPON REQUEST. ASURE DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART VII, SECTION A, LINE 5: COMPENSATION FOR MATT HULVER WAS PAID BY ARIZONA STATE UNIVERSITY, AN UNRELATED ORGANIZATION. THE ORGANIZATION MADE A REASONABLE, GOOD-FAITH EFFORT TO OBTAIN COMPENSATION INFORMATION FROM THE UNIVERSITY, BUT WAS UNABLE TO SECURE THE INFORMATION. ACCORDINGLY, THE COMPENSATION PAID BY THE UNIVERSITY IS NOT REPORTED ON THE FORM 990, PART VII AND SCHEDULE J. 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