Charles Stark Draper Laboratory Inc
- Assets
- $22.7m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 2,611
- Location
- Cambridge, MA
- Founding
- 03/1973
- Data as of
- 06/2022
- 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. As of 06/2023, Retiree Medical Payments Trust employed 2,611 individuals. 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 06/2022, Retiree Medical Payments Trust generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (51.9%) each year. All expenses for the organization totaled $336.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (61.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Retiree Medical Payments Trust has awarded 102 individual grants totaling $25,104,106. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PIONEER IN THE APPLICATION OF SCIENCE AND TECHNOLOGY IN THE NATIONAL INTEREST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DRAPER ENGINEERS SOLUTIONS THAT SERVE OUR NATIONAL SECURITY AND STRATEGIC DEFENSE INTERESTS. FROM DEVELOPING, TESTING AND DELIVERING THE WORLD'S MOST ACCURATE SYSTEMS TO PROVIDING TECHNOLOGY ACROSS MULTIPLE DISCIPLINES TO ADDRESS OUR CUSTOMERS' MOST COMPLEX TECHNOLOGICAL CHALLENGES. BUILDING ON OUR HISTORIC 90-YEAR LEGACY, WE SUPPORT HUMANKIND'S DESIRE TO SURPASS THE BOUNDARIES OF OUR PLANET AND TO PROTECT, DEFEND AND EXTEND HUMAN LIFE THROUGH INNOVATION. WE ARE PROUD OF OUR LONG-STANDING COMMITMENT AS A CHAMPION OF U.S. MILITARY, SPACE AND NATIONAL SECURITY MISSIONS, ACROSS AIR, LAND AND SEA, AND WE ARE DEDICATED TO DRIVING MISSION SUCCESS FOR THE NATION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Wohletz President And CEO | OfficerTrustee | 40 | $808,073 |
David R Shedd Chairman | Trustee | 5 | $100,000 |
Betty Sapp Director | Trustee | 3 | $55,000 |
David B Aronoff Director | Trustee | 3 | $55,000 |
D Rick Williams Director | Trustee | 3 | $55,000 |
Terry J Benedict Director | Trustee | 3 | $55,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elysian Technology Inc Information Technology Services | 6/29/23 | $5,807,466 |
Chapman Constructiondesign Company Outside Services | 6/29/23 | $4,732,347 |
Softworld Inc Staffing Services | 6/29/23 | $4,297,782 |
Digital Prospectors Staffing Services | 6/29/23 | $4,536,829 |
Gen Computer Resouces Inc Staffing Services | 6/29/23 | $3,992,112 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $651,640 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,287,244 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,938,884 |
| Statement of Expenses | |
|---|---|
| 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. | $18,954 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,238 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Payments to affiliates | $314,218 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $336,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $25,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $22,706,326 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,731,326 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $22,731,326 |
Grants Awarded
Over the last fiscal year, Charles Stark Draper Laboratory Inc has awarded $4,230,966 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON CHILDRENS HOSPITAL PURPOSE: RESEARCH | $230,690 |
MASSACHUSETTS INSTITUTE OF TECHNOLOGY PURPOSE: RESEARCH / SCHOLAR SUPPORT | $1,608,130 |
THROMBODYNE INC PURPOSE: RESEARCH | $24,000 |
THE GENEVA FOUNDATION PURPOSE: RESEARCH | $275,635 |
SEATTLE CHILDREN'S RESEARCH INSTITUTE PURPOSE: RESEARCH | $459,340 |
BOSTON UNIVERSITY PURPOSE: SCHOLAR SUPPORT | $231,498 |