University Of Rhode Island Research Foundation
- Assets
- $6.1m
- Revenue
- $8.7m
- Investments
- $0.0
- Employees
- 25
- Location
- Kingston, RI
- Founding
- 01/2010
- Data as of
- 06/2022
- EIN
- 36-4644408
Organization Overview
University Of Rhode Island Research Foundation is located in Kingston, RI. The organization was established in 2010. 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. As of 06/2022, University Of Rhode Island Research Foundation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Rhode Island 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 Rhode Island Research Foundation generated $8.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $9.1m during the year ending 06/2022. While expenses have increased by 21.5% 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
TO SUPPORT RESEARCH AT THE UNIVERSITY OF RHODE ISLAND AND FOSTER COMMERCIALIZATION OF TECHNOLOGIES ARISING FROM THAT RESEARCH
Describe the Organization's Program Activity:
Part 3 - Line 4a
FACILITATE THE TRANSITION OF URI TECHNOLOGIES INTO USEFUL PRODUCTS AND SERVICES THROUGH INTELLECTUAL PROPERTY LICENSES TO COMMERCIAL ENTITIES.
THE URI VENTURES DIVISION/PROGRAM FACILITATED RESEARCH COLLABORATIONS BETWEEN UNIVERSITY OF RHODE ISLAND (URI) FACULTY MEMBERS AND INDUSTRY SPONSORS. IT HOSTED ENTERPRENEURSHIP EDUCATIONAL PROGRAMS TO URI STUDENTS.
POLARIS MANUFACTURING EXTENSION PARTNERSHIP PROVIDED SERVICES ON BEHALF OF THE STATE OF RHODE ISLAND TO IMPROVE THE PRODUCTIVITY AND RESILIENCE OF THE STATE'S MANUFACTURERS AND TO SUPPORT STATE INCENTIVES TO GROW THE NUMBER OF WORKERS WITH THE SKILLS NEEDED TO SUSTAIN THE STATE'S MANUFACTURERS.
401 TECH BRIDGE SERVES AS A SUPER-CONNECTOR FOR COMPANIES THAT ARE DEVELOPING LEADING-EDGE ADVANCED MATERIALS, TECHNOLOGIES, AND PRODUCTS, ENABLING BUSINESS GROWTH, AND SPEEDING THE PROCESS OF FUNDING COMMERCIAL AND DUAL-USE APPLICATIONS FOR TECHNOLOGIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Katz Executive Director | Officer | 40 | $9,000 |
Christian Cowan Chief Operating Officer | Officer | 40 | $174,902 |
Mary Springer Director Of Finance And Admin. | 40 | $124,509 | |
Erik Brine Director For Defense Interactions | 40 | $101,042 | |
Katherine Mahoney Mep Center Director | 40 | $132,862 | |
Peter Rumsey Chief Business Development Officer | 40 | $119,316 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rhode Island Manufacturing Institute Job Training/development | 6/29/22 | $577,986 |
Ccri Bursar's Office Job Training/development | 6/29/22 | $474,288 |
Sheworks Inc Workforce Development Services | 6/29/22 | $200,000 |
Uri Office Of Sponsored Projects R&d/consulting | 6/29/22 | $655,148 |
Rhode Island Marine Trade Association Workforce Development Services | 6/29/22 | $208,271 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $403,116 |
| Government grants | $6,323,101 |
| All other contributions, gifts, grants, and similar amounts not included above | $79,664 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,805,881 |
| Total Program Service Revenue | $1,903,340 |
| Investment income | $1,287 |
| 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 | $8,710,508 |
| 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. | $312,444 |
| Compensation of current officers, directors, key employees. | $143,225 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,864,378 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $500,891 |
| Payroll taxes | $183,687 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51,646 |
| Fees for services: Accounting | $18,500 |
| Fees for services: Lobbying | $110,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $199,311 |
| Office expenses | $129,810 |
| Information technology | $0 |
| Royalties | $26,177 |
| Occupancy | $217,124 |
| Travel | $60,874 |
| 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 | $89,116 |
| Insurance | $32,294 |
| All other expenses | $305,877 |
| Total functional expenses | $9,063,901 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,286 |
| Savings and temporary cash investments | $808,043 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,339,753 |
| 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 | $1,595,100 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,179,697 |
| Intangible assets | $0 |
| Other assets | $1,059,781 |
| Total assets | $6,078,660 |
| Accounts payable and accrued expenses | $925,855 |
| Grants payable | $0 |
| Deferred revenue | $364,131 |
| 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 | $1,289,986 |
| Net assets without donor restrictions | $4,201,338 |
| Net assets with donor restrictions | $587,336 |
| 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 | $6,078,660 |