Mcnc Endowment
- Assets
- $149.9m
- Revenue
- $17.3m
- Investments
- $35.0m
- Employees
- 0
- Location
- Research Triangle Park, NC
- Founding
- 02/2001
- Data as of
- 06/2021
- EIN
- 58-2591748
Organization Overview
Mcnc Endowment is located in Research Triangle Park, NC. The organization was established in 2001. According to its NTEE Classification (U20) the organization is classified as: General Science, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcnc Endowment 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 06/2021, Mcnc Endowment generated $17.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 46.1% each year . All expenses for the organization totaled $228.9k during the year ending 06/2021. While expenses have increased by 18.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MCNC ENDOWMENT IS ORGANIZED AND IS TO BE OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF MCNC, AN NC NONPROFIT CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTING CHARITABLE, EDUCATIONAL, AND SCIENTIFIC OBJECTIVES ON BEHALF OF MCNC, AND FOR THE PUBLIC PURPOSE OF PROMOTING SCIENTIFIC RESEARCH AND EDUCATION TO ENCOURAGE THE DEVELOPMENT OF THE ELECTRONIC AND INFORMATION TECHNOLOGY INDUSTRIES IN THE STATE OF NORTH CAROLINA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Frost Director | Trustee | 0.46 | $0 |
Neal F Triplett Chair | Trustee | 0.46 | $0 |
Mark W Yusko Director | Trustee | 0.46 | $0 |
E Ward Sax Vice Chair | Trustee | 0.46 | $0 |
Sara K Morgan Director | Trustee | 0.35 | $0 |
Charles Maimone Director | Trustee | 0.06 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $1,738,060 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,429,192 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,348,211 |
| Statement of Expenses | |
|---|---|
| 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 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 | $1,750 |
| Fees for services: Accounting | $7,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $178,077 |
| 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 | $5,577 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,803 |
| All other expenses | $0 |
| Total functional expenses | $228,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Investments—publicly traded securities | $114,896,976 |
| Investments—other securities | $34,981,963 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $149,878,939 |
| Accounts payable and accrued expenses | $17,787 |
| 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 | $35,449 |
| Total liabilities | $53,236 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $149,825,703 |