Quote:
Originally Posted by Jay Random
It's not incorporated as a business, but those are not the only kind of corporations. However, there is a pretty darn big business included under the umbrella of ASU's charter: its endowment is said to be $1.3 billion.
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ASU is a non-profit. It's not legally allowed to operate as a corporation or generate profits. The fact that you reference its endowment supports the point. Universities live off of gifts (endowment) from donors and alumni. It is this giving that allows universities to build new buildings and pay for research. They don't generate profits because that is against their charter and their tax status.