Charles Stark Draper Laboratory Inc
- Assets
- $683.6m
- Revenue
- $741.0m
- Investments
- $51.1k
- Employees
- 0
- Location
- Cambridge, MA
- Founding
- 03/1973
- Data as of
- 06/2021
- EIN
- 04-2505372
Organization Overview
Charles Stark Draper Laboratory Inc, operating under the name Retiree Medical Payments Trust, is located in Cambridge, MA. The organization was established in 1973. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Retiree Medical Payments Trust 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 06/2021, Retiree Medical Payments Trust generated $741.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $710.3m during the year ending 06/2021. While expenses have increased by 1.8% per year over the past 6 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.
Since 2015, Retiree Medical Payments Trust has awarded 69 individual grants totaling $17,463,597. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPPORT THE CHARLES STARK DRAPER LABORATORY, INC- THE TRUST PROVIDES POST-RETIREMENT MEDICAL BENEFITS TO QUALIFIED RETIREES OF THE CHARLES STARK DRAPER LABORATORY, INC AND THEIR ELIGIBLE DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT THE CHARLES STARK DRAPER LABORATORY, INC- THE TRUST PROVIDES POST-RETIREMENT MEDICAL BENEFITS TO QUALIFIED RETIREES OF THE CHARLES STARK DRAPER LABORATORY, INC AND THEIR ELIGIBLE DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kaigham J Grabriel President And Ceo-End May 2020 | 40 | $1,711,545 | |
Elizabeth Mora Cao -End Aug 2020 | Officer | 40 | $1,310,322 |
Steven Ditullio VP Strategic Sys-End Aug 2020 | Officer | 40 | $1,209,670 |
Jennifer L Jensen VP Natl Sec & Sp Prog-End Jan 2021 | Officer | 40 | $531,122 |
Anthony S Kourepenis VP St Sys Prog-Beg Jan 2021 | Officer | 40 | $394,871 |
Richard J Russell Vice President For Engineering | Officer | 40 | $391,531 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Emerald Isle Systems Llc Materials & Supplies | 6/24/21 | $1,061,802 |
Venice Precision Llc Materials & Supplies | 6/24/21 | $886,235 |
Goodwin Procter Llp Legal Services | 6/24/21 | $824,291 |
Pricewaterhousecoopers Llp Audit Services | 6/24/21 | $611,262 |
Arnold & Porter Kaye Scholer Llp Legal Services | 6/24/21 | $603,066 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,642,827 |
| All other contributions, gifts, grants, and similar amounts not included above | $407,588 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,050,415 |
| Total Program Service Revenue | $718,901,116 |
| Investment income | $1,515,319 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,119,381 |
| Net Rental Income | -$831,571 |
| Net Gain/Loss on Asset Sales | $15,268,246 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $741,022,906 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,230,179 |
| 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. | $6,239,074 |
| Compensation of current officers, directors, key employees. | $6,239,074 |
| Compensation to disqualified persons | $371,494 |
| Other salaries and wages | $237,530,180 |
| Pension plan accruals and contributions | $27,754,596 |
| Other employee benefits | $40,183,122 |
| Payroll taxes | $18,975,738 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,851,544 |
| Fees for services: Accounting | $456,778 |
| Fees for services: Lobbying | $137,250 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,074,247 |
| Fees for services: Other | $7,805,634 |
| Advertising and promotion | $2,980,779 |
| Office expenses | $2,258,704 |
| Information technology | $19,928,833 |
| Royalties | $981,026 |
| Occupancy | $11,921,828 |
| Travel | $887,092 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,672 |
| Interest | $4,347,036 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,445,336 |
| Insurance | $1,652,613 |
| All other expenses | $0 |
| Total functional expenses | $710,284,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $66,026,485 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $143,652,962 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $275,624 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $36,461,845 |
| Net Land, buildings, and equipment | $228,474,569 |
| Investments—publicly traded securities | $202,708,416 |
| Investments—other securities | $51,116 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,930,096 |
| Total assets | $683,581,113 |
| Accounts payable and accrued expenses | $107,158,708 |
| Grants payable | $0 |
| Deferred revenue | $32,248,043 |
| 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 | $10,290,794 |
| Unsecured mortgages and notes payable | $98,987,770 |
| Other liabilities | $10,489,465 |
| Total liabilities | $259,174,780 |
| Net assets without donor restrictions | $424,406,333 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $683,581,113 |
Grants Awarded
Over the last fiscal year, Charles Stark Draper Laboratory Inc has awarded $3,240,935 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
Cambridge, MA PURPOSE: FELLOWSHIPS SUPPORT | $1,582,838 |
Denver, CO PURPOSE: FELLOWSHIPS SUPPORT | $410,211 |
Providence, RI PURPOSE: FELLOWSHIPS SUPPORT | $308,887 |
Boston, MA PURPOSE: FELLOWSHIPS SUPPORT | $233,952 |
Geneva, IL PURPOSE: FELLOWSHIPS SUPPORT | $192,167 |
Seattle, WA PURPOSE: FELLOWSHIPS SUPPORT | $120,136 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Charles Stark Draper Laboratory Inc has recieved totaling $545,824.
| Awarding Organization | Amount |
|---|---|
National Philanthropic Tr Jenkintown, PA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $536,990 |
Johns Hopkins University Baltimore, MD PURPOSE: SUB-AWARD | $8,834 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles Stark Draper Laboratory Inc Cambridge, MA | $683,581,113 | $741,022,906 |
For Inspiration And Recognition Of Science And Technology First Manchester, NH | $64,269,944 | $72,988,833 |
Terc Inc Cambridge, MA | $20,874,819 | $13,653,170 |
Ny Creates Albany, NY | $99,965 | $4,450,000 |
Western New York Technology Development Center Inc Buffalo, NY | $1,286,247 | $2,858,472 |
The Asme Foundation Inc New York, NY | $33,818,246 | $3,028,197 |
Cortico Corporation Boston, MA | $3,352,303 | $987,674 |
Mit Real Estate Foundation Inc Cambridge, MA | $3,185,000 | -$155,000 |
Hudson Valley Technology Development Center Inc Newburgh, NY | $824,479 | $1,255,790 |
International First Committee Association Manchester, NH | $2,287,995 | $919,576 |
Engineering Conferences International Inc New York, NY | $3,118,614 | $313,156 |
Brokaw Family Foundation Merrimack, NH | $4,131,332 | $152,642 |