Florida State University Research Foundation Inc
- Assets
- $238.2m
- Revenue
- $28.1m
- Investments
- $120.3m
- Employees
- 0
- Location
- Tallahassee, FL
- Founding
- 09/1995
- Data as of
- 06/2022
- EIN
- 59-3211153
Organization Overview
Florida State University Research Foundation Inc is located in Tallahassee, FL. The organization was established in 1995. 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. Florida State University 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 06/2022, Florida State University Research Foundation Inc generated $28.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $14.8m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, ENCOURAGE, AND ASSIST THE RESEARCH AND TRAINING IN ACTIVITIES OF FACULTY, STAFF, AND STUDENTS OF FLORIDA STATE UNIVERSITY (FSU) THROUGH INCOME FROM CONTRACTS, GRANTS, AND OTHER SOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RESEARCH FOUNDATION ACCEPTS AND ADMINISTERS CONTRACTS AND GRANTS FROM PRIVATE SOURCES, (I.E. NON-U.S. FEDERAL, STATE AND LOCAL GOVERNMENTAL ENTITIES), WHICH ARE USED IN SUPPORT OF RESEARCH AT THE FLORIDA STATE UNIVERSITY. THE RESEARCH FOUNDATION PROCESSED 205 PROPOSALS AND 161 AWARDS IN THE CURRENT YEAR.
THE RESEARCH FOUNDATION OPERATES SEVEN BUILDINGS WITH THE OBJECTIVE OF PROVIDING RESEARCH FACILITIES FOR FLORIDA STATE UNIVERSITY TENANTS TO PERFORM RESEARCH.
ADMINISTERING INCOME FROM RESEARCH/ROYALTY CONTRACTS RECEIVED BY UNIVERSITY DEPARTMENTS AND LICENSING OR OTHER CONTRACTUAL ARRANGEMENTS RELATED TO PATENTABLE PRODUCTS DEVELOPED BY FLORIDA STATE UNIVERSITY FACULTY, STAFF, AND STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Riley Interim President As Of 4/2/2022 | OfficerTrustee | 10 | $0 |
Laurel Fulkerson President Until 04/01/2022 | OfficerTrustee | 10 | $0 |
Heather Cave Executive Director | Officer | 40 | $0 |
Kerry Peluso Treasurer | Officer | 5 | $0 |
Kelly Starke Secretary | Officer | 5 | $0 |
Richard Mccullough Director As Of 8/16/2021 | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eversheds Sutherland (Us) Llp Legal-patent And Copyright | 6/29/22 | $633,236 |
Meunier Carlin & Curfman Llc Legal-patent And Copyright | 6/29/22 | $151,569 |
Ruby E Krishnamurti Royalties | 6/29/22 | $105,123 |
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 | $15,116,427 |
| Investment income | $139,752 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,451,021 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,107,542 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,027,524 |
| 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. | $112,064 |
| Compensation of current officers, directors, key employees. | $112,064 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $720,269 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $41,747 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $75,731 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,128,753 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $14,832,298 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $39,375,025 |
| Pledges and grants receivable | $2,264,062 |
| Accounts receivable, net | $615,088 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,346,598 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $105,837 |
| Net Land, buildings, and equipment | $13,215,315 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $120,301,778 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,986,682 |
| Total assets | $238,210,385 |
| Accounts payable and accrued expenses | $182,313 |
| Grants payable | $0 |
| Deferred revenue | $8,984,269 |
| Tax-exempt bond liabilities | $6,715,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $43,165,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,711,991 |
| Total liabilities | $69,758,573 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $161,069,397 |
| Paid-in or capital surplus, or land, building, or equipment fund | $7,382,415 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $238,210,385 |
Grants Recieved
Over the last fiscal year, we have identified 36 grants that Florida State University Research Foundation Inc has recieved totaling $1,948,705.
| Awarding Organization | Amount |
|---|---|
Joyce Foundation Chicago, IL PURPOSE: GUN VIOLENCE PREVENTION & JUSTICE REFORM | $333,334 |
Jdrf International New York, NY PURPOSE: PREVENTION | $300,000 |
Laura And John Arnold Foundation Houston, TX PURPOSE: TO FUND A STUDY TO LEARN THE DESIGN AND IMPLEMENTATION OF ABOUT CRISIS STABILIZATION UNITS IN THREE RURAL AND URBAN COUNTIES IN FLORIDA. | $203,249 |
Joyce Foundation Chicago, IL PURPOSE: GUN VIOLENCE PREVENTION & JUSTICE REFORM | $166,666 |
Pew Charitable Trusts Washington, DC PURPOSE: Policy | $150,000 |
American Heart Association Inc Dallas, TX PURPOSE: RESEARCH | $138,384 |
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 |