Mca Tech Park Inc
- Assets
- $26.4m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 0
- Location
- El Paso, TX
- Founding
- 11/2013
- Data as of
- 12/2023
- EIN
- 45-4664319
Organization Overview
Mca Tech Park Inc is located in El Paso, TX. The organization was established in 2013. According to its NTEE Classification (E05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mca Tech Park 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 12/2023, Mca Tech Park Inc generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 40.6% each year . All expenses for the organization totaled $2.7m during the year ending 12/2023. While expenses have increased by 33.6% per year over the past 9 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
TO BE A SUPPORTING ORGANIZATION TO MEDICAL CENTER OF THE AMERICAS FOUNDATION, A PUBLICLY SUPPORTED ORGANIZATION, FOR THE DEVELOPMENT AND LONG-TERM GROWTH OF A VIBRANT, STATE-OF-THE ART RESEARCH PARK FOR LIFE SCIENCES AND HEALTHCARE, BEGINNING WITH A 60,000 SQUARE FOOT LIFE SCIENCES RESEARCH AND TECHNOLOGY BUILDING, THE CARDWELL COLLABORATIVE, AS THE ANCHOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION AND THE FOUNDATION DEVELOPED A BIOMEDICAL RESEARCH FACILITY THAT HOUSES: (1) MEDICAL RESEARCH AND BUSINESS INCUBATOR FACILITIES (2) ADMINISTRATION FOR TEXAS TECH UNIVERSITY HEALTH SCIENCES CENTER EL PASO AND ALSO THE UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT HOUSTON, AND (3) MEDICAL CENTER OF THE AMERICAS FOUNDATION OFFICES. THE FIRST PHASE OF THE DEVELOPMENT, A 60,000 SQUARE FOOT BUILDING KNOWN AS THE CARDWELL COLLABORATIVE, WHICH WAS BUILT TO HOUSE STATE-OF-THE ART RESEARCH AND BUSINESS INCUBATIONS, WAS OPENED IN 2016.
SERIES B LOANS TOTALING APPROXIMATELY $3.5 MILLION WERE ASSIGNED TO MEDICAL CENTER OF THE AMERICAS FOUNDATION THROUGH A PUT OPTION PURSUANT TO A PUT/CALL AGREEMENT. SUBSEQUENTLY, FOUNDATION AND THE ORGANIZATION EXECUTED A FORGIVENESS AGREEMENT WHERE FOUNDATION FORGAVE ALL UNPAID PRINCIPAL AND ACCRUED INTEREST OF THE SERIES B LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melinda Becker Board Member | Trustee | 1 | $0 |
Josh Hunt Chair | Trustee | 2 | $0 |
Matthew Bohannon Board Member | Trustee | 1 | $0 |
Edward Escudero Board Member | Trustee | 1 | $0 |
Ted Houghton Board Member | Trustee | 1 | $0 |
Rick Francis Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Glass House Inc Building Contractor | 12/30/21 | $118,897 |
Mike Garcia Merchant Security Llc Building Security | 12/30/21 | $105,132 |
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 | $1,969,643 |
| 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 | $5,298,690 |
| 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 | $246,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,283 |
| 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 | $1,208,672 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $717,904 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,711,582 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $533,925 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,601,611 |
| 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 | $33,225 |
| Net Land, buildings, and equipment | $22,232,635 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $26,401,396 |
| Accounts payable and accrued expenses | $1,860,511 |
| 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 | $17,577,080 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $19,437,591 |
| Net assets without donor restrictions | $6,963,805 |
| 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 | $26,401,396 |