Here is an excerpt from the State Press article:
The Coalition for Justice at Great Western Erectors has said in a press conference Tuesday that the ASU Foundation spent too much money on overhead expenses and not enough on students.
According to a report circulated at a coalition press conference, millions of dollars that were donated to the foundation were spent on meals, entertainment, gifts, trophies and flowers.
The ASU Foundation's expenditures were not consistent with its stated mission to advance ASU and supply financial aid to ASU students.
But the foundation's president and CEO, Johnnie Ray, said that the allegedly exorbitant expenses, such as fees paid to asset managers, meal and gift expenses, along with salaries of top foundation employees, are normal operating expenses.
The growth of ASU Foundation's has resulted in increased spending to attract potential donors and hire more staff.
The payoff, he added, is evidenced by ASU's endowments growth —more than 50 percent since 2003.
Ray said a lot of the other information in the report was taken out of context.
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