Marshall University Research Corporation
- Assets
- $66.5m
- Revenue
- $56.0m
- Investments
- $29.8m
- Employees
- 742
- Location
- Huntington, WV
- Founding
- 04/2010
- Data as of
- 06/2022
- EIN
- 55-0683361
Organization Overview
Marshall University Research Corporation is located in Huntington, WV. The organization was established in 2010. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Marshall University Research Corporation employed 742 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Marshall University Research Corporation 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, Marshall University Research Corporation generated $56.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $55.8m during the year ending 06/2022. While expenses have increased by 6.0% 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
CHARITABLE EDUCATION AND SCIENTIFIC RESEARCH
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARSHALL UNIVERSITY RESEARCH CORPORATION OPERATES FOR CHARITABLE EDUCATION AND SCIENTIFIC PURPOSES TO FOSTER, SUPPORT, AND PARTICIPATE IN RESEARCH AND ECONOMIC DEVELOPMENT ACTIVITIES IN THE FURTHERANCE OF THE EDUCATIONAL OBJECTIVES AND MISSION OF MARSHALL UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerome Gilbert Chair | OfficerTrustee | 0 | $0 |
Joseph Shapiro Board Member | Trustee | 0 | $0 |
Avi Mukherjee Vice Chair | OfficerTrustee | 0 | $0 |
David Dampier Board Member | Trustee | 0 | $0 |
John Maher Board Member | Trustee | 0 | $0 |
Chuck Somerville Board Member | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stites And Harbison Pllc Legal Patent Services | 6/29/21 | $321,838 |
Qlarant Integrity Solutions Llc Modeling Services Related To Fraud Detection And Mitigation Project | 6/29/21 | $198,307 |
Dinsmore & Shohl Llp Legal Services | 6/29/21 | $133,230 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $48,160,099 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,322,876 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,482,975 |
| Total Program Service Revenue | $0 |
| 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 | $55,976,007 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,589,105 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $241,747 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,871,207 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,280,144 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $580,130 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $194,294 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,086,978 |
| Advertising and promotion | $88,777 |
| Office expenses | $735,518 |
| Information technology | $56,580 |
| Royalties | $0 |
| Occupancy | $221,476 |
| Travel | $1,015,873 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $257,403 |
| Interest | $31,524 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,492,519 |
| Insurance | $224,828 |
| All other expenses | $4,985,792 |
| Total functional expenses | $55,779,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,895,279 |
| Pledges and grants receivable | $17,746,495 |
| Accounts receivable, net | $55,025 |
| 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 | $363,890 |
| Net Land, buildings, and equipment | $10,694,137 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $29,769,954 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $66,524,780 |
| Accounts payable and accrued expenses | $5,180,915 |
| Grants payable | $0 |
| Deferred revenue | $15,024,806 |
| 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 | $1,113,264 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $469,589 |
| Total liabilities | $21,788,574 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $20,326,691 |
| Paid-in or capital surplus, or land, building, or equipment fund | $9,409,515 |
| Retained earnings, endowment, accumulated income, or other funds | $15,000,000 |
| Total liabilities and net assets/fund balances | $66,524,780 |