University Of Florida Research Foundation Inc
- Assets
- $131.2m
- Revenue
- $46.8m
- Investments
- $1.3m
- Employees
- 0
- Location
- Gainesville, FL
- Founding
- 06/2000
- Data as of
- 06/2021
- EIN
- 59-2729133
Organization Overview
University Of Florida Research Foundation Inc is located in Gainesville, FL. The organization was established in 2000. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. University Of Florida Research Foundation Inc 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, University Of Florida Research Foundation Inc generated $46.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $45.0m during the year ending 06/2021. While expenses have increased by 2.8% 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
ASSIST THE UNIVERSITY OF FLORIDA IN FUNDING OF RESEARCH/DEVELOPMENT THROUGH GRANTS & CONTRACTUAL ARRANGEMENTS & IN THE COMMERCIALIZATION OF INTELLECTUAL PROPERTIES, WHICH INCLUDE INVENTIONS, DISCOVERIES,PROCESSES & WORK PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COST INCURRED IN OBTAINING LICENSES AND GRANTS FOR THE UNIVERSITY OF FLORIDA RESEARCH FOUNDATION ACTIVITIES.
OTHER REVENUE/COSTS INCURRED FOR UNIVERSITY OF FLORIDA RESEARCHFOUNDATION ACTIVITIES.
COSTS INCURRED IN THE LICENSING OF PATENTED OR PATENTABLE PRODUCTS DEVELOPED BY THE UNVERSITY OF FLORIDA.
COSTS INCURRED IN SECURING AND PROVIDING RESEARCH AND DEVELOPMENT FUNDING FOR THE UNIVERSITY OF FLORIDA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr David P Norton President | OfficerTrustee | 10 | $0 |
Scott Angle Board Member | Trustee | 1 | $0 |
Curtis Reynolds Board Member | Trustee | 1 | $0 |
Dr David Richardson Board Member | Trustee | 1 | $0 |
Saby Mitra Board Member | Trustee | 1 | $0 |
David Nelson Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wolf Greenfield And Sacks Pc Legal | 6/29/22 | $3,770,051 |
Thomas Horstemeyer Legal | 6/29/22 | $1,345,244 |
Alston & Bird Llp Legal | 6/29/22 | $927,328 |
Marshall Gerstein And Borun Llp Legal | 6/29/22 | $485,374 |
Wolter Van Dyke Davis Pllc Legal | 6/29/22 | $427,851 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $868 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $36,098,802 |
| 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 | $46,757,527 |
| 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 | $7,323,152 |
| Fees for services: Accounting | $35,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $294,078 |
| Advertising and promotion | $113,563 |
| Office expenses | $136,678 |
| Information technology | $409,532 |
| Royalties | $27,143,993 |
| Occupancy | $0 |
| Travel | $501 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,376 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $25,664 |
| All other expenses | $0 |
| Total functional expenses | $44,980,877 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,237,728 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,200,762 |
| 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 | $0 |
| Investments—other securities | $1,339,238 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $119,440,371 |
| Total assets | $131,218,099 |
| Accounts payable and accrued expenses | $22,806,968 |
| 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 | $22,806,968 |
| 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 | $108,411,131 |