Pinkney Innovation Complex For Science & Technology At Montgomery
- Assets
- $6.1m
- Revenue
- $303.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Rockville, MD
- Founding
- 04/2012
- Data as of
- 06/2022
- EIN
- 45-3787207
Organization Overview
Pinkney Innovation Complex For Science & Technology At Montgomery is located in Rockville, MD. The organization was established in 2012. 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. Pinkney Innovation Complex For Science & Technology At Montgomery 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, Pinkney Innovation Complex For Science & Technology At Montgomery generated $303.4k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $100.2k during the year ending 06/2022. 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 THE MISSION OF MONTGOMERY COLLEGE AND TO PROMOTE THE ADVANCEMENT OF EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT THE MISSION OF THE COLLEGE AND PROMOTE THE ADVANCEMENT OF STUDENT EDUCATION BY FOSTERING AND EXPANDING EDUCATIONAL AND RESEARCH OPPORTUNITIES FOR FACULTY AND STUDENTS THROUGH ACADEMIC-INDUSTRY PARTNERSHIPS. ENHANCE AND ALIGN THE WORK OF THE COLLEGE WITH THOSE OF TECHNOLOGY BUSINESSES BY CO-LOCATING BUSINESSES ON CAMPUS IN AN INTEGRATED HUB THAT ACTIVELY PROMOTES INTERACTION BETWEEN FACULTY AND STUDENTS TO ACHIEVE THE COLLECTIVE GOAL OF EDUCATIONAL AND ECONOMIC SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Stephen Cain Board Member | Trustee | 2 | $0 |
Dr Sanjay Rai Board Member | Trustee | 2 | $0 |
Margaret Latimer Secretary | OfficerTrustee | 2 | $0 |
Michael Smith Executive Director | Officer | 2 | $0 |
John Compton PHD Chair | OfficerTrustee | 4 | $0 |
Gail Folena Wasserman PHD Vice Chair | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| 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 | $0 |
| Total Program Service Revenue | $63,462 |
| Investment income | $239,917 |
| 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 | $303,379 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,078 |
| Fees for services: Other | $68,572 |
| Advertising and promotion | $0 |
| Office expenses | $1,908 |
| 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 | $5,616 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $100,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,812 |
| Savings and temporary cash investments | $5,665,940 |
| 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 | $384,186 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,140,938 |
| Accounts payable and accrued expenses | $15,318 |
| Grants payable | $0 |
| Deferred revenue | $5,621,655 |
| 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 | $5,636,973 |
| Net assets without donor restrictions | $503,965 |
| 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 | $6,140,938 |