Research And Development Council Of New Jersey Inc
- Assets
- $556.7k
- Revenue
- $867.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Chatham, NJ
- Founding
- 07/2004
- Data as of
- 06/2022
- EIN
- 22-2188362
Organization Overview
Research And Development Council Of New Jersey Inc is located in Chatham, NJ. The organization was established in 2004. According to its NTEE Classification (U03) the organization is classified as: Professional Societies & Associations, 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. Research And Development Council Of New Jersey 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 06/2022, Research And Development Council Of New Jersey Inc generated $867.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.0% each year . All expenses for the organization totaled $714.0k during the year ending 06/2022. While expenses have increased by 19.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE COUNCIL'S PURPOSE IS TO ADVANCE RESEARCH AND DEVELOPMENT IN NEW JERSEY AND PROMOTE EXCELLENCE IN STEM EDUCATION THROUGH THE ASSIMILATION AND DISTRIBUTION OF INFORMATION, FACILITATION OF STAKEHOLDERS AND CONSTITUENTS,AND DEVELOPING AND IMPLEMENTING PROGRAMS REGARDING R&D AND STEM THROUGHOUT THE STATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW JERSEY STEM PATHWAYS NETWORK, A STRATEGIC PUBLIC-PRIVATE ALLIANCE, AIMS TO ATTRACT, CULTIVATE AND RETAIN A 21ST CENTURY WORKFORCE IN NEW JERSEY, ENSURING THE STATE REMAINS A TOP GLOBAL COMPETITOR IN STEM INDUSTRY AND CONTINUES ITS RICH HISTORY OF INNOVATION. THIS NETWORK INCLUDES OVER 500 REPRESENTATIVES FROM K-12, HIGHER EDUCATION, BUSINESS, NON-PROFITS AND GOVERNMENT. IT MEETS AS A WHOLE ON A QUARTERLY BASIS TO DISCUSS ISSUES AND SOLUTIONS AFFECTING THE NEW JERSEY STEM PIPELINE AND INCUDES FOUR WORKING GROUPS FOCUSED ON STEM IN EARLY LEARNING, COMPUTER SCIENCE, TEACHER TRAINING AND RECRUITMENT, AND WORKFORCE DEVELOPMENT. NJSPN ALSO MANAGES NEW JERSEYS FIVE STEM LEARNING ECOSYSTEMS WHICH ARE NATIONAL RECOGNIZED.
THE COUNCIL HOSTS AN ANNUAL AWARDS CEREMONY AND DINNER TO RECOGNIZE ACHIEVEMENTS IN RESEARCH AND DEVELOPMENT BY AWARDING THE THOMAS ALVA EDISON PATENT AWARD FOR EXCEPTIONAL PATENTS DEVELOPED IN NEW JERSEY.
THE GOVERNOR'S STEM SCHOLARS IS A PUBLIC PRIVATE PARTNERSHIP DEVELOPED WITH THE GOVERNOR'S OFFICE, DEPARTMENT OF EDUCATION AND THE SECRETARY OF HIGHER EDUCATION. THE PROGRAM ENROLLS 70, 10TH GRADE THROUGH PHD LEVEL, STUDENTS WHO EXCEL IN STEM STUDIES. THE SCHOLARS PARTICIPATE IN A YEARLONG PROGRAM THAT INCLUDES FOUR CONFERENCES HIGHLIGHTING NEW JERSEY' STEM ENONOMY. FURTHER, THE PROGRAM PROVIDES STEM NETWORKING OPPOTUNITIES, INTERNSHIPS AND FIELD TRIPS FOUR OUR SCHOLARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mario M Casabona Trustee | Trustee | 2 | $0 |
Kevin Campos PHD Chairman | Trustee | 0 | $0 |
Robert Asaro-Angelo Trustee | Trustee | 0 | $0 |
Keith Bostian PHD Trustee | Trustee | 0 | $0 |
Robert Cohen Trustee | Trustee | 0 | $0 |
Ian W Davies PHD Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cn Communications Intl Inc Management | 6/29/22 | $0 |
Cn Communications Intl Inc Fundraising | 6/29/22 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $124,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $72,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $196,750 |
| Total Program Service Revenue | $670,778 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $867,528 |
| 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 | $152,875 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,330 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $100,981 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,650 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $182,740 |
| Total functional expenses | $714,011 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $556,651 |
| Savings and temporary cash investments | $0 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $556,651 |
| 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 | $556,651 |
| 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 | $556,651 |
Grants Awarded
Over the last fiscal year, Research And Development Council Of New Jersey Inc has awarded $14,250 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PASSAIC COUNTY COMMUNI PURPOSE: Scholarship Program | $5,250 |
UNION COUNTY COMMUNITY COLLEG PURPOSE: Scholarship Program | $9,000 |