University Of Memphis Researchfoundation
- Assets
- $4.8m
- Revenue
- $2.1m
- Investments
- $977.2k
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 10/2006
- Data as of
- 06/2023
- EIN
- 20-5400381
Organization Overview
University Of Memphis Researchfoundation is located in Memphis, TN. The organization was established in 2006. 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. University Of Memphis Researchfoundation 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 06/2023, University Of Memphis Researchfoundation generated $2.1m 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 (5.4%) each year. All expenses for the organization totaled $1.9m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 8 years. 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
TO ENCOURAGE, PROMOTE AND AID THE FULFILLMENT OF EDUCATION, RESEARCH AND SERVICE FUNCTIONS OF THE UNIVERSITY OF MEMPHIS (U OF M) AND TO ENCOURAGE, PROMOTE AND AID THE TRANSFER OF TECHNOLOGY GENERATED IN THECOURSE OF RESEARCH BY U OF M FACULTY, STAFF AND STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORED RESEARCH AND OTHER EDUCATIONAL/SERVICE ACTIVITIES DEVELOPED AND ADMINISTERED ON BEHALF OF FACULTY AND STAFF OF THE UNIVERSITY OF MEMPHIS TOTALED 14 ACTIVE PROGRAM SERVICE PROJECTS FUNDED BY 1 UNIQUE SPONSORS, AND THE ADMINISTRATION OF SEVERAL PATENTS.THE RESEARCH FOUNDATION PROVIDES THE FOLLOWING BENEFITS FOR THEUNIVERSITY:1. FACULTY AND STAFF MAY APPLY FOR GRANTS FROM SPONSORS WHOSE ELIGIBILITY CRITERIA REQUIRES A 501(C)(3) ORGANIZATION.2. FACULTY AND STAFF MAY CONTRACT WITH SPONSORS THAT CANNOT ACCEPT TN LAWS (REQUIRED FOR UNIVERSITY CONTRACTS).3. FOR NON-COST REIMBURSABLE PROGRAM SERVICES FUNDED BY MULTIPLE SPONSORS, THE RESEARCH FOUNDATION MAINTAINS THE ACCOUNTING BY SPONSOR WHICH REDUCES THE ADMINISTRATIVE BURDEN ON UNIVERSITY ACCOUNTING STAFF
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Hardgrave Chairman | OfficerTrustee | 1 | $0 |
Jasbir Dhaliwal Executive Director | OfficerTrustee | 2 | $0 |
Raajkumar Kurapati Director | Trustee | 0.5 | $0 |
Richard Bloomer Director | Trustee | 0.5 | $0 |
Erika Dillard Director | Trustee | 0.5 | $0 |
David Scully Secretary/treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $58,636 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,817,769 |
| Noncash contributions included in lines 1a–1f | $58,636 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,876,405 |
| Total Program Service Revenue | $146,826 |
| Investment income | $62,360 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $24,511 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16,642 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,093,460 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $22,462 |
| Royalties | $7,399 |
| 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 | $2,392 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $55,485 |
| Insurance | $4,849 |
| All other expenses | $0 |
| Total functional expenses | $1,899,168 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $540,161 |
| Savings and temporary cash investments | $719,064 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $295,047 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $225,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $90,315 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $977,159 |
| Investments—program-related | $0 |
| Intangible assets | $587,469 |
| Other assets | $1,392,927 |
| Total assets | $4,827,142 |
| Accounts payable and accrued expenses | $9,410 |
| Grants payable | $329,671 |
| Deferred revenue | $816,877 |
| 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 | $56,222 |
| Total liabilities | $1,212,180 |
| Net assets without donor restrictions | $3,398,527 |
| Net assets with donor restrictions | $216,435 |
| 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 | $4,827,142 |