Srcco Inc
- Assets
- $38.2m
- Revenue
- $44.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Durham, NC
- Founding
- 02/2002
- Data as of
- 12/2023
- EIN
- 56-2038762
Organization Overview
Srcco Inc, operating under the name Marco, is located in Durham, NC. The organization was established in 2002. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marco is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Marco generated $44.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $61.9m during the year ending 12/2023. While expenses have increased by 5.2% 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.
Since 2014, Marco has awarded 112 individual grants totaling $367,956,806. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH CONTRACTS GRANTED TO COLLEGES AND UNIVERSITIES THROUGHOUT THE UNITED STATES.
MANAGEMENT AND GENERAL COSTS TO MANAGE THE ABOVE RESEARCH CONTRACTS.
JUMP 2.0 IS AN SRC-LED PUBLIC-PRIVATE PARTNERSHIP IN COOPERATION WITH DARPA, CO-SPONSORED BY SRC, DARPA, THE COMMERCIAL SEMICONDUCTOR INDUSTRY, AND THE DEFENSE INDUSTRIAL BASE. JUMP 2.0 WILL DRIVE LONG-TERM PATHFINDING UNIVERSITY RESEARCH THAT SUBSTANTIALLY INCREASES THE PERFORMANCE, EFFICIENCY, AND CAPABILITIES OF BROAD CLASSES OF ELECTRONICS SYSTEMS FOR BOTH COMMERCIAL AND MILITARY APPLICATIONS. THE PROGRAM WILL SPONSOR SEVEN ACADEMIC RESEARCH CENTERS FOCUSED ON CRITICAL TECHNOLOGY THEMES, ONE CENTER FOR EACH THEME. THESE SEVEN THEMES WILL BENEFIT BOTH THE DEFENSE AND INDUSTRIAL SECTORS BY PROVIDING THE DEPARTMENT OF DEFENSE WITH AN UNMATCHED TECHNOLOGICAL EDGE IN ADVANCED RADAR, COMMUNICATIONS, AND WEAPONS SYSTEMS, AND PROVIDE THE U.S. ECONOMY WITH UNIQUE INFORMATION TECHNOLOGY AND PROCESSING CAPABILITIES CRITICAL TO COMMERCIAL COMPETITIVENESS AND FUTURE ECONOMIC GROWTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Younkin President & CEO | OfficerTrustee | 12 | $180,822 |
David Henshall VP Of Business Development | Trustee | 10 | $64,605 |
Karen Di Spigna Chief Accounting Officer | Trustee | 15 | $76,971 |
Adam Knapp Program Manager | 30 | $148,950 | |
Roman Caudillo Program Director | Officer | 40 | $180,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ibm Loaned Employee | 12/30/20 | $180,000 |
Intel Loaned Employee | 12/30/20 | $114,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $25,400,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $18,680,125 |
| 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 | $44,080,125 |
| Total Program Service Revenue | $0 |
| Investment income | $403,897 |
| 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 | $44,484,022 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $59,574,671 |
| 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. | $768,709 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $453,626 |
| Pension plan accruals and contributions | $208,376 |
| Other employee benefits | $105,942 |
| Payroll taxes | $67,402 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $267,934 |
| Fees for services: Accounting | $27,624 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,145 |
| Advertising and promotion | $0 |
| Office expenses | $3,174 |
| Information technology | $54,786 |
| Royalties | $0 |
| Occupancy | $2,993 |
| Travel | $47,965 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $170,411 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,032 |
| Insurance | $11,112 |
| All other expenses | $29,815 |
| Total functional expenses | $61,911,717 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $33,604,591 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,436,687 |
| 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 | $200,008 |
| 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 | $38,241,286 |
| Accounts payable and accrued expenses | $130,074 |
| Grants payable | $24,525,426 |
| Deferred revenue | $4,000,000 |
| 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 | $5,749,782 |
| Total liabilities | $34,405,282 |
| Net assets without donor restrictions | $3,836,004 |
| 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 | $38,241,286 |
Grants Awarded
Over the last fiscal year, Srcco Inc has awarded $59,574,671 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
GEORGIA TECH RESEARCH CORPORATION PURPOSE: UNIVERSITY RESEARCH IN THE SEMICONDUCTOR/TECHNOLOGY INDUSTRY | $11,944,484 |
THE TRUSTEES OF THE COLUMBIA UNIV IN NYC PURPOSE: UNIVERSITY RESEARCH IN THE SEMICONDUCTOR/TECHNOLOGY INDUSTRY | $6,997,558 |
THE REGENTS OF THE UNIV OF CALIFORNIA SAN DIEGO PURPOSE: UNIVERSITY RESEARCH IN THE SEMICONDUCTOR/TECHNOLOGY INDUSTRY | $7,600,000 |
CORNELL UNIVERSITY PURPOSE: UNIVERSITY RESEARCH IN THE SEMICONDUCTOR/TECHNOLOGY INDUSTRY | $6,895,103 |
THE PENNSYLVANIA UNIVERSITY PURPOSE: UNIVERSITY RESEARCH IN THE SEMICONDUCTOR/TECHNOLOGY INDUSTRY | $6,700,000 |
THE BOARD OF TRUSTEES OF THE UNIV OF IL PURPOSE: UNIVERSITY RESEARCH IN THE SEMICONDUCTOR/TECHNOLOGY INDUSTRY | $6,270,582 |