University Of Utah Research Foundation
- Assets
- $360.7m
- Revenue
- $26.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Salt Lake City, UT
- Founding
- 08/1972
- Data as of
- 06/2022
- EIN
- 23-7112869
Organization Overview
University Of Utah Research Foundation is located in Salt Lake City, UT. The organization was established in 1972. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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 Utah Research Foundation 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, University Of Utah Research Foundation generated $26.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $11.2m during the year ending 06/2022. While expenses have increased by 3.0% per year over the past 7 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
SUPPORT UNIVERSITY OF UTAH RESEARCH AND ADMINISTER UNIVERSITY RESEARCH PARK
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND RESEARCH SUPPORT TO THE UNIVERSITY OF UTAH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Weyrich Pres,dir,interim Chair | OfficerTrustee | 4 | $0 |
Erin W Rothwell Interim Pres.,dir. | OfficerTrustee | 4 | $0 |
Daniel A Reed Exec VP And Director | OfficerTrustee | 1 | $0 |
Martell L Teasley Exec VP And Director | OfficerTrustee | 1 | $0 |
Taylor R Randall Chair And Director | OfficerTrustee | 1 | $0 |
Phyllis Vetter Secretary | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ballard Spahr Llp Atty Service For Patents | 6/29/22 | $801,258 |
Thorpe North & Western Llp Atty Service For Patents | 6/29/22 | $280,896 |
Workman Nydegger Atty Service For Patents | 6/29/22 | $346,387 |
Master Data Center Atty Service For Patents | 6/29/22 | $205,656 |
Michael Best & Friedrich Llp Atty Service For Patents | 6/29/22 | $375,024 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,600,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,600,000 |
| Total Program Service Revenue | $0 |
| Investment income | -$451,271 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,344,680 |
| Net Rental Income | $8,649,394 |
| Net Gain/Loss on Asset Sales | $165,834 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,132,674 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,263,982 |
| 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 | $330,736 |
| Fees for services: Accounting | $58,450 |
| 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 | $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 | $9,564,588 |
| Total functional expenses | $11,217,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,505,205 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $226,301,714 |
| 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 | $731,866 |
| Net Land, buildings, and equipment | $80,361,774 |
| Investments—publicly traded securities | $8,180,700 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,667,788 |
| Total assets | $360,749,047 |
| Accounts payable and accrued expenses | $8,908,586 |
| Grants payable | $0 |
| Deferred revenue | $291,017 |
| 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 | $30,004,345 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $221,750,316 |
| Total liabilities | $260,954,264 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $49,437,354 |
| Paid-in or capital surplus, or land, building, or equipment fund | $50,357,429 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $360,749,047 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that University Of Utah Research Foundation has recieved totaling $1,672,500.
| Awarding Organization | Amount |
|---|---|
American Cancer Society Inc Kennesaw, GA PURPOSE: Extramural Research Grant | $1,447,500 |
The Community Foundation Of Utah Salt Lake City, UT PURPOSE: GENERAL SUPPORT | $150,000 |
American College Of Radiology Reston, VA PURPOSE: PROGRAM SUPPORT | $75,000 |
Endowment Analysis
| Beg. Balance | $2,930,273 |
| Earnings | -$146,927 |
| Ending Balance | $2,783,346 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of New Mexico Foundation Incorporated Albuquerque, NM | $270,142,035 | $53,815,950 |
Colorado School Of Mines Foundation Golden, CO | $425,843,908 | $49,131,943 |
American Indian College Fund Denver, CO | $151,570,496 | $57,441,920 |
University Of Nevada Las Vegas Foundation Las Vegas, NV | $436,194,901 | $57,839,511 |
Lincoln Institute Of Land Policy Phoenix, AZ | $774,885,329 | $64,138,879 |
Asu Enterprise Partners Tempe, AZ | $381,094,670 | $23,987,399 |
Boise State University Foundation Inc Boise, ID | $181,429,408 | $23,699,772 |
University Of Idaho Foundation Inc Moscow, ID | $461,396,601 | $57,102,014 |
Northern Arizona University Fdn Inc Flagstaff, AZ | $256,288,832 | $37,761,443 |
New Mexico State University Foundation Inc Las Cruces, NM | $355,498,587 | $111,307,691 |
University Of Northern Colorado Foundation Inc Greeley, CO | $134,921,327 | $19,470,249 |
Wgu Advancement Salt Lake City, UT | $262,529 | $10,776,481 |