Florida State University Magnet Research And Development Inc
- Assets
- $347.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Tallahassee, FL
- Founding
- 02/2008
- Data as of
- 06/2024
- EIN
- 13-4356799
Organization Overview
Florida State University Magnet Research And Development Inc is located in Tallahassee, FL. The organization was established in 2008. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., 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. Florida State University Magnet Research And Development Inc 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 06/2024, Florida State University Magnet Research And Development Inc generated $115.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (20.9%) each year. All expenses for the organization totaled $70.6k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (29.1%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3
FSUMRD OPERATES FOR THE PURPOSE OF SUPPORTING, ENCOURAGING, AND PROMOTING SCIENTIFIC RESEARCH, EDUCATION, AND TRAINING ACTIVITIES OF FACULTY, STAFF, AND STUDENTS OF FLORIDA STATE UNIVERSITY. THE ORGANIZATION EXISTS TO DESIGN, DEVELOP, INVENT, ASSEMBLE, CONSTRUCT, TEST, REPAIR, MAINTAIN, AND FABRICATE MAGNETS OR MAGNET SYSTEMS OF ANY TYPE OF DESIGN, AND ANY ANCILLARY COMPONENTS NECESSARY OR DESIRABLE FOR THE DEVELOPMENT, OPERATION, OR MAINENANCE THEREOF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacey Patterson President | 1 | $0 | |
Walter Lee Treasurer | 10 | $0 | |
Kelly Stark Secretary | 1 | $0 | |
Richard Mccullough Director | 1 | $0 | |
Gregory Boebinger Director | 3 | $0 | |
Mark Bird Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $101,490 |
| Membership dues | $0 |
| Investment income | $14,306 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $115,796 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $48,693 |
| Professional fees and other payments to independent contractors | $14,500 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $7,368 |
| Total expenses | $70,561 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $17,495 |
| Other assets | $0 |
| Total assets | $347,086 |
| Total liabilities | $39,662 |
| Net assets or fund balances | $307,424 |