The Arizona State University Foundation exists to ensure the success of Arizona State University (ASU) as a New American University. As of 2016 the ASU endowment totaled $613 million.
The foundation is a private, nonprofit organization that raises and invests private contributions to Arizona State University. It is one of Arizona’s oldest nonprofits. It coordinates and directs all major fundraising campaigns on behalf of ASU, its colleges and schools and manages private assets. The foundation also serves as the university’s entrepreneurial arm in technology commercialization, real estate investment and other emerging initiatives.