Arizona State University has overhauled its foundation and the specialty groups that had been housed within it, creating a new governance structure likened to a corporate holding company.
The university on Monday announced the creation this month of Enterprise Partners, an umbrella group made up of five nonprofit organizations: the ASU Foundation, defense researcher and consultant ASU Research Enterprise, intellectual property manager Arizona Technology Enterprises, real estate group University Realty, and nonprofit incubator Research Collaboratory. The ASU Foundation had previously been the parent of the other four groups.
Arizona State likened the change to Google's reorganization under the holding company Alphabet. At the university, however, the change gives each organization its own leader and board of directors. It could generate new sources of revenue, Arizona State said. But the groups share support systems and services under the umbrella organization.
"This model allows us to add new entities for diverse revenue as those opportunities come along," ASU Foundation CEO R. F. Shangraw said in the university's announcement of the new group.
Arizona State is billing the group as the first of its kind to follow its organizational model.
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