Usa Research And Technology Corporation
- Assets
- $33.1m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 05/2004
- Data as of
- 09/2023
- EIN
- 02-0617779
Organization Overview
Usa Research And Technology Corporation is located in Mobile, AL. The organization was established in 2004. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. USA Research And Technology Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, USA Research And Technology Corporation generated $4.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $3.9m during the year ending 09/2023. While expenses have increased by 2.0% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY MISSION IS TO FURTHER THE EDUCATIONAL AND SCIENTIFIC RESEARCH MISSIONS OF THE UNIVERSITY OF SOUTH ALABAMA BY SEEKING TO ENHANCE THE LEARNING, TRAINING, AND OVERALL ACADEMIC EXPERIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO FURTHER THE EDUCATIONAL AND SCIENTIFIC RESEARCH MISSIONS OF THE UNIVERSITY OF SOUTH ALABAMA, AN INSTITUTION OF HIGHER LEARNING AND A GOVERNMENTAL UNIT OF THE STATE OF ALABAMA. MORE SPECIFICALLY, THE ORGANIZATION SEEKS TO ENHANCE THE LEARNING, TRAINING AND OVERALL ACADEMIC EXPERIENCE OF THE UNIVERSITY'S STUDENTS AND MEMBERS OF ITS FACULTY. THE PURSUIT OF THESE EXEMPT PURPOSES SHOULD PRODUCE THE ADDITIONAL BENEFIT TO THE UNIVERSITY OF CREATING ATTRACTIVE INTERNSHIPS AND CAREER OPPORTUNITIES FOR THE UNIVERSITY'S STUDENTS, FACULTY AND GRADUATES WITH ACADEMIC BACKGROUNDS THAT ARE NEEDED BOTH WITHIN THE UNIVERSITY AND THE STATE OF ALABAMA. ADDITIONALLY, THE ORGANIZATION STRIVES TO CREATE AREAS OF RESEARCH COLLABORATION BETWEEN THE UNIVERSITY AND PRIVATE ENTERPRISE IN ADDITION TO FOSTERING A COMMUNITY OF INNOVATION IN WHICH PRIVATE ENTEPRISES MAY COLLABORATE AMONG THEMSELVES. THE ORGANIZATION HAS ACCOMPLISHED, AND IS CONTINUING TO ACCOMPLISH, ITS EXEMPT PURPOSE BY OPERATING A RESEARCH AND TECHNOLOGY CAMPUS IN WHICH TECHNOLOGY-BASED ENTERPRISES WITH SUBSTANTIAL RESEARCH AND DEVELOPMENT ACTIVITIES HAVE LOCATED. STUDENTS AND FACULTY OF THE UNIVERSITY ARE ABLE TO BE DIRECTLY INVOLVED IN THE RESEARCH AND DEVELOPMENT ACTIVITIES OF THE TECHNOLOGY-BASED ENTERPRISES; INVOLVEMENT THAT SUPPLEMENTS AND ENHANCES THE TRADITIONAL IN-CLASSROOM EXPERIENCE AVAILABLE TO STUDENTS AND FACULTY WITHIN THE UNIVERSITY. THE TECHNOLOGY-BASED ENTERPRISES ALSO OFFER SCHOLARSHIPS TO GIFTED STUDENTS AND COLLABORATE WITH THE UNIVERSITY ON WORK-STUDY OPPORTUNITIES, INTERNSHIPS AND OTHER COLLABORATIVE PROGRAMS INVOLVING UNIVERSITY STUDENTS AND FACULTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jo Bonner President/vi | OfficerTrustee | 1 | $0 |
Polly Stokley Secretary/tr | 0 | $0 | |
Lynne Chronister Vice Preside | Officer | 1 | $0 |
Terry Albano Director | Trustee | 1 | $0 |
John Smith Director | 0 | $0 | |
G Scott Weldon Dir./vp/sec. | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,967,902 |
| Investment income | $73,486 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $120,268 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,170,242 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $492,503 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,140 |
| Fees for services: Lobbying | $48,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,958 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $848,985 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,282,560 |
| Insurance | $61,598 |
| All other expenses | $0 |
| Total functional expenses | $3,904,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,199,776 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,711,189 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,742 |
| Net Land, buildings, and equipment | $17,979,131 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $164,808 |
| Other assets | $10,047,725 |
| Total assets | $33,118,371 |
| Accounts payable and accrued expenses | $302,041 |
| Grants payable | $0 |
| Deferred revenue | $360,763 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $17,988,971 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,714,879 |
| Total liabilities | $30,366,654 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,751,717 |
| Total liabilities and net assets/fund balances | $33,118,371 |