Research Park Corporation
- Assets
- $23.5m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 15
- Location
- Baton Rouge, LA
- Founding
- 04/1994
- Data as of
- 12/2021
- EIN
- 58-2087281
Organization Overview
Research Park Corporation, operating under the name Nexus Louisiana, is located in Baton Rouge, LA. The organization was established in 1994. 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 12/2022, Nexus Louisiana employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nexus Louisiana 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 12/2021, Nexus Louisiana generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $2.7m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RESEARCH PARK CORPORATION WAS ORGANIZED TO ATTRACT INDUSTRIES TO BATON ROUGE AND THE STATE OF LOUISIANA. THE ORGANIZATION'S MISSION IS TO ACCELERATE THE GROWTH OF HIGH-POTENTIAL TECHNOLOGY ENABLED COMPANIES BY PROVIDING THEM WITH COACHING, CAPITAL AND CONNECTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPING A RESEARCH PARK FOR THE CITY OF BATON ROUGE IN ORDER TO ATTRACT VARIOUS INDUSTRIES TO LOUISIANA. RESEARCH PARK CORPORATION WORKED WITH APPROXIMATELY 40 START-UP COMPANIES IN 2022 BY PROVIDING THE START-UPS WITH ALL OF THE PHYSICAL THINGS NEEDED TO START A BUSINESS, SUCH AS OFFICE SPACE, FURNITURE, PHONES, INTERNET CONNECTIVITY, AND USE OF A SHARED CONFERENCE ROOM. RESEARCH PARK CORPORATION ALSO PROVIDES BUSINESS COUNSELING IN THE AREAS OF ACCOUNTING, FINANCE, TAX CREDITS, MARKETING, AND PUBLIC RELATIONS. RESEARCH PARK CORPORATION ALSO EDUCATES THE START-UP COMPANIES AND LINKS THEM TO RESOURCES IN THE COMMUNITY THROUGH IN HOUSE EDUCATIONAL WORKSHOPS, ADVISORY BOARD PROGRAMS, AND ITS STRATEGIC PARTNER NETWORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Michael Stubblefield Director | Trustee | 0.5 | $0 |
Anita Tillman Chairman | OfficerTrustee | 0.5 | $0 |
Isaac Thomas Director | Trustee | 0.5 | $0 |
Calvin Mills Jr Interim President & CEO | OfficerTrustee | 40 | $87,500 |
Stephanie Cargile Director | Trustee | 0.5 | $0 |
Barbra Barnett Treasurer | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,445,261 |
| All other contributions, gifts, grants, and similar amounts not included above | $299,213 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,744,474 |
| Total Program Service Revenue | $218,492 |
| Investment income | $214,035 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $523,773 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,708,171 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $199,748 |
| 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. | $370,683 |
| Compensation of current officers, directors, key employees. | $39,038 |
| Compensation to disqualified persons | $477,588 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $237,266 |
| Payroll taxes | $60,570 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,635 |
| Fees for services: Accounting | $29,045 |
| Fees for services: Lobbying | $30,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $171,847 |
| Fees for services: Other | $10,534 |
| Advertising and promotion | $63,257 |
| Office expenses | $29,974 |
| Information technology | $14,102 |
| Royalties | $0 |
| Occupancy | $455,474 |
| Travel | $11,373 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $84,740 |
| Insurance | $27,599 |
| All other expenses | $7,273 |
| Total functional expenses | $2,710,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $298,762 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $859,136 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,251,498 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $48,980 |
| Net Land, buildings, and equipment | $205,224 |
| Investments—publicly traded securities | $18,798,203 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,461,803 |
| Accounts payable and accrued expenses | $113,034 |
| Grants payable | $0 |
| Deferred revenue | $99,547 |
| 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 | $222,660 |
| Total liabilities | $435,241 |
| Net assets without donor restrictions | $23,026,562 |
| 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 | $23,461,803 |
Grants Awarded
Over the last fiscal year, Research Park Corporation has awarded $1,162,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LSU RESEARCH & TECHNOLOGY FOUNDATION PURPOSE: TO CONTRIBUTE TO LSU'S LEVERAGING INNOVATION FOR TECHNOLOGY TRANSFER (LIFT) FUND, TO INVEST IN PROMISING UNIVERSITY TECHNOLOGY WITH HIGH POTENTIAL FOR COMMERCIALIZATION. | $125,000 |
INNOVATION CATALYST INC PURPOSE: TO CULTIVATE THE ENTREPRENEURIAL ENVIROMENT IN LOUISIANA'S NINE-PARISH CAPITAL REGION. | $1,037,000 |