Wireless Research Center Of North Carolina
- Assets
- $876.9k
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 38
- Location
- Wake Forest, NC
- Founding
- 06/2011
- Data as of
- 09/2023
- EIN
- 27-3397703
Organization Overview
Wireless Research Center Of North Carolina is located in Wake Forest, NC. The organization was established in 2011. 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 09/2023, Wireless Research Center Of North Carolina employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wireless Research Center Of North Carolina 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 09/2023, Wireless Research Center Of North Carolina generated $3.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $4.3m during the year ending 09/2023. While expenses have increased by 14.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE WIRELESS RESEARCH CENTER IS AN INDEPENDENT, PRIVATE NONPROFIT RESEARCH CENTER DEDICATED TO APPLIED RESEARCH AND ENGINEERING. LOCATED IN NORTH CAROLINA'S RESEARCH TRIANGLE REGION, THE WRC HELPS CLIENTS FROM AROUND THE WORLD DEVELOP PRODUCTS AND SERVICES THAT ADVANCE WIRELESS TECHNOLOGY INNOVATION. THE WRC FOSTERS GLOBAL COLLABORATION AMONG COMPANIES, INDUSTRY GROUPS, ACADEMIC INSTITUTIONS AND OTHER RESEARCH ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WRC TECHNOLOGIES SERVES CLIENTS WORLDWIDE AS A TRUSTED PARTNER PROVIDING ACCESS TO UNIQUE ENGINEERING AND TESTING CAPABILITIES THAT DRIVE SOLUTIONS TO EMERGING WIRELESS COMMUNICATION CHALLENGES
CONNECTED COMMUNITIES SUPPORTS WORKFORCE DEVELOPMENT BY PROVIDING MENTOR-DRIVEN ACCESS TO ONLINE DIGITAL SKILLS TRAINING PROGRAMS THAT ARE ENABLED THROUGH BROADBAND CONNECTIVITY.
RIOT PROMOTES ENTREPRENEURSHIP AND INNOVATION OF IOT (INTERNET OF THINGS) ENABLED SOLUTIONS BY MANAGING REGIONAL ACCELERATOR PROGRAMS, HOSTING COMMUNITY NETWORK BUILDING EVENTS, AND PROVIDING THOUGHT LEADERSHIP GUIDANCE TO REGIONAL ECONOMICDEVELOPMENT AGENCIES AND MUNICIPALITIES.RIOT HAS OVER 90 SPONSORS, 3,000 COMPANIES AT RIOT EVENTS ACROSS THE US, OVER 1,000 JOBS CREATED BY RIOT ENGAGED STARTUPS, AND 12,000 MEMBERS ENGAGED IN RIOT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerard Hayes President | Officer | 50 | $172,309 |
Phillip Emer Board Member | Trustee | 1 | $0 |
Robert White Board Member | Trustee | 1 | $0 |
Neal Ellis Secretary | OfficerTrustee | 1 | $0 |
Joseph Murray Chair | OfficerTrustee | 1 | $0 |
Vivian Jones Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $384,530 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $409,530 |
| Total Program Service Revenue | $3,036,119 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $73,443 |
| 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 | $3,611,103 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200 |
| 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. | $174,164 |
| Compensation of current officers, directors, key employees. | $17,581 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,213,211 |
| Pension plan accruals and contributions | $73,264 |
| Other employee benefits | $343,083 |
| Payroll taxes | $179,083 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,567 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $408,579 |
| Advertising and promotion | $1,110 |
| Office expenses | $29,336 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $317,311 |
| Travel | $42,947 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,980 |
| Interest | $77,375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $118,184 |
| Insurance | $28,295 |
| All other expenses | $10,249 |
| Total functional expenses | $4,330,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,059 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $382,147 |
| 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 | $36,209 |
| Net Land, buildings, and equipment | $419,919 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $26,606 |
| Other assets | $0 |
| Total assets | $876,940 |
| Accounts payable and accrued expenses | $608,342 |
| Grants payable | $0 |
| Deferred revenue | $5,600 |
| 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 | $1,253,531 |
| Other liabilities | $0 |
| Total liabilities | $1,867,473 |
| Net assets without donor restrictions | -$990,533 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $876,940 |