Ohio State Innovation Foundation
- Assets
- $19.0m
- Revenue
- $23.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Columbus, OH
- Founding
- 09/2014
- Data as of
- 06/2022
- EIN
- 46-0843878
Organization Overview
Ohio State Innovation Foundation is located in Columbus, OH. The organization was established in 2014. According to its NTEE Classification (B05) the organization is classified as: Research Institutes & Public Policy Analysis, 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. Ohio State Innovation 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, Ohio State Innovation Foundation generated $23.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.0% each year . All expenses for the organization totaled $18.7m during the year ending 06/2022. While expenses have increased by 16.5% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OHIO STATE INNOVATION FOUNDATION ("OSIF") IS A NOT-FOR-PROFIT OHIO CORPORATION FORMED TO MANAGE INTELLECTUAL PROPERTY DEVELOPED AT OR CREATED BY THE OHIO STATE UNIVERSITY ("OSU") AND TO FACILITATE THE COMMERCIALIZATION OF SUCH INTELLECTUAL PROPERTY ("IP"). OSU IS THE SOLE MEMBER OF OSIF, AND A MAJORITY OF THE DIRECTORS ON THE OSIF BOARD OF DIRECTORS ARE REPRESENTATIVES OF OSU. OSIF HAS NO EMPLOYEES. THE OPERATIONS OF THE OSIF ARE CONDUCTED BY THE TECHNOLOGY LICENSING OFFICE OF THE OSU OFFICE OF INNOVATION AND ECONOMIC DEVELOPMENT, PURSUANT TO CONTRACT.
Describe the Organization's Program Activity:
MANAGED LICENSES OF TECHNOLOGY DEVELOPED AT THE OHIO STATE UNIVERSITY.
MANAGED INTELLECTUAL PROPERTY PORTFOLIO OF THE OHIO STATE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Scott Osborne President | OfficerTrustee | 4 | $0 |
Michael Papadakis Chairman | Trustee | 0.1 | $0 |
Tim Wright Director | Trustee | 0.25 | $0 |
Jim Terranova Director | Trustee | 0.25 | $0 |
Ray Shealy Director | Trustee | 0.25 | $0 |
Chris Olsen Director | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
King & Spalding Llc Legal Services | 6/29/22 | $930,111 |
Meunier Carlin & Curfman Llc Legal Services | 6/29/22 | $2,850,886 |
Computer Packages Inc Legal Services | 6/29/22 | $541,703 |
Tremonti Consulting Llc Consulting | 6/29/22 | $450,000 |
Thomas Horstmeyer Llp Legal Services | 6/29/22 | $366,979 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,489,592 |
| 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 | $4,489,592 |
| Total Program Service Revenue | $18,978,235 |
| 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 | $23,467,827 |
| 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 | $1,766,680 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $103,986 |
| Advertising and promotion | $0 |
| Office expenses | $6,578 |
| 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 | $12,084,862 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $4,751,578 |
| Total functional expenses | $18,713,684 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,652,547 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,345,489 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,998,036 |
| Accounts payable and accrued expenses | $10,007,280 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,007,280 |
| Net assets without donor restrictions | $8,990,756 |
| 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 | $18,998,036 |