University Of South Florida Research Foundation Inc
- Assets
- $129.1m
- Revenue
- $23.0m
- Investments
- $36.8m
- Employees
- 0
- Location
- Tampa, FL
- Founding
- 08/1990
- Data as of
- 06/2021
- EIN
- 59-2959590
Organization Overview
University Of South Florida Research Foundation Inc is located in Tampa, FL. The organization was established in 1990. 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 South 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 South Florida Research Foundation Inc generated $23.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $11.8m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, ENCOURAGE AND ENHANCE RESEARCH ACTIVITIES AT THE UNIVERSITY OF SOUTH FLORIDA.
Describe the Organization's Program Activity:
THE RESEARCH FOUNDATION ASSISTS IN DEVELOPING HIGH-TECHNOLOGY BUSINESSES AND RESEARCH PARTNERSHIPS THAT BOOST THE ECONOMY AND CREATE HIGH-PAYING JOBS IN THE TAMPA BAY AREA BY DEVELOPING ITS USF RESEARCH PARK OF TAMPA BAY INTO A HUB FOR BIOTECHNOLOGY AND LIFE SCIENCES RESEARCH AND ENTREPRENEURSHIP.
THE RESEARCH FOUNDATION PROVIDES A MECHANISM BY WHICH DISCOVERIES, INVENTIONS, PROCESSES AND WORK PRODUCTS OF USF FACULTY, STAFF AND STUDENTS CAN BE TRANSFERRED FROM THE UNIVERSITY LABORATORY TO BENEFIT THE PUBLIC. INCOME IS ALLOCATED IN ACCORDANCE WITH USF POLICY ON INVENTIONS AND WORKS TO INVENTORS AND THEIR RESEARCH SUPPORT FUNDS, AND FOR DIRECT SUPPORT OF RESEARCH AT THE UNIVERSITY.
THE RESEARCH FOUNDATION RECEIVES AND ADMINISTERS CERTAIN BASIC RESEARCH AND CLINICAL TRIAL CONTRACTS AND GRANTS SPONSORED BY THE PRIVATE SECTOR AND FOUNDATIONS. THE GRANT STUDIES ARE PERFORMED BY UNIVERSITY FACULTY, STAFF AND STUDENTS.
THE TAMPA BAY TECHNOLOGY INCUBATOR (TBTI) IS ONE VEHICLE THROUGH WHICH USF CONNECT GROWS SUCCESSFUL COMPANIES. TBTI SUPPORTS TECHNOLOGY RESEARCH AS A CATALYST FOR ECONOMIC DEVELOPMENT AND ADVOCATES THE CREATION AND DEVELOPMENT OF FACILITIES FOR HIGH-TECHNOLOGY COMPANIES AND RELATED SUPPORT FUNCTIONS. ONE WAY TBTI IS ABLE TO ASSIST IS BY PROVIDING ACCESS TO CRITICAL COSTLY RESEARCH EQUIPMENT. MANY COMPANIES ORIGINATE IN THE COMMUNITY AND SEEK OUR SUPPORT TO EVOLVE THEIR CONCEPTS TO COMMERCIALIZATION.THE REVENUE AND EXPENDITURES RELATED TO FIDUCIARY ACTIVITIES FOR THE TAMPA BAY TECHNOLOGY INCUBATOR PROGRAM HAVE BEEN EXCLUDED FROM THE PROGRAM SERVICES REVENUE AND EXPENSES AS REQUIRED BY THE ADOPTION OF GASB 84, FIDUCIARY ACTIVITIES. THE USF RESEARCH FOUNDATION HAS CONTINUED TO PROCESS THE BUSINESS TRANSACTIONS ON BEHALF OF THE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Sanberg President & Director To Jan | OfficerTrustee | 15 | $0 |
Keith Anderson President & Director From Jan | OfficerTrustee | 15 | $0 |
Nick Trivunovich Treasurer | OfficerTrustee | 5 | $0 |
Patricia Gamble CFO | Officer | 40 | $0 |
Allison Madden Secretary | Officer | 35 | $0 |
Jeffrey Hackman Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Davey Tree Expert Company Landscaping Services | 6/29/21 | $274,331 |
Ed Taylor Construction South Inc Construction Manager | 6/29/21 | $1,961,850 |
Rja Architects Inc Construction Manager | 6/29/21 | $178,911 |
Master Maintenance Inc Cleaning And Janitorial | 6/29/21 | $270,694 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $20,355,140 |
| Investment income | $2,589,483 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $54,788 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,992,565 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 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 | $1,201 |
| Fees for services: Accounting | $78,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $61,649 |
| Advertising and promotion | $0 |
| Office expenses | $46,478 |
| Information technology | $0 |
| Royalties | $1,692,078 |
| Occupancy | $3,601,524 |
| Travel | $11,774 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,547,351 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,786,130 |
| Insurance | $279,752 |
| All other expenses | $3,930 |
| Total functional expenses | $11,770,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,077,671 |
| Savings and temporary cash investments | $670,833 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,747,269 |
| 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 | $195,009 |
| Net Land, buildings, and equipment | $40,930,703 |
| Investments—publicly traded securities | $35,647,165 |
| Investments—other securities | $36,776,518 |
| Investments—program-related | $680,451 |
| Intangible assets | $6,877,419 |
| Other assets | $2,513,917 |
| Total assets | $129,116,955 |
| Accounts payable and accrued expenses | $2,142,557 |
| Grants payable | $0 |
| Deferred revenue | $133,067 |
| 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 | $14,635,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,314,104 |
| Total liabilities | $33,224,728 |
| Net assets without donor restrictions | $80,503,224 |
| Net assets with donor restrictions | $15,389,003 |
| 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 | $129,116,955 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that University Of South Florida Research Foundation Inc has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
The Rita And Harry Greenberger Foundation Inc Haddonfield, NJ PURPOSE: GENERAL PURPOSES | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |
Florida International University Foundation Inc Miami, FL | $475,743,772 | $154,605,877 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of South Alabama Foundation Mobile, AL | $392,021,424 | $13,140,864 |
Seminole County Coalition For School Readiness Inc Longwood, FL | $3,997,009 | $35,020,709 |
Georgia State University Foundation Inc Atlanta, GA | $466,073,205 | $89,649,877 |
Florida Atlantic University Foundation Inc Boca Raton, FL | $393,420,422 | $44,215,838 |
St Petersburg College Foundation Inc Saint Petersburg, FL | $84,259,588 | $9,116,029 |
Florida Gulf Coast University Foundation Inc Fort Myers, FL | $164,718,359 | $25,895,312 |