Ut-Battelle Development Corporation
- Assets
- $69.4m
- Revenue
- $20.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Oak Ridge, TN
- Founding
- 04/2003
- Data as of
- 09/2023
- EIN
- 62-1867598
Organization Overview
Ut-Battelle Development Corporation is located in Oak Ridge, TN. The organization was established in 2003. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., 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. Ut-Battelle Development Corporation 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 09/2023, Ut-Battelle Development Corporation generated $20.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $17.2m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MANAGEMENT OF SCIENTIFIC FACILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
A PUBLIC BENEFIT NOT-FOR-PROFIT CORPORATION ORGANIZED TO SUPPORT THE MANAGEMENT OF ORNL IN CONNECTION WITH THE PROVISION OF RESEARCH FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Mark Peters Chair | Trustee | 0 | $0 |
David Bradshaw Director | Trustee | 0 | $0 |
Dr Robert Van Hook Director | Trustee | 0 | $0 |
Mr Jeffrey W Smith Director | Trustee | 0 | $0 |
Mr Jimmy Stone President | OfficerTrustee | 0.09 | $0 |
Steve Jones Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Optimech - Division Of Ivey Mechanical Construction | 9/29/23 | $6,596,809 |
Walker Electric Construction | 9/29/23 | $2,252,107 |
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 | $15,450 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,450 |
| Total Program Service Revenue | $11,663,759 |
| Investment income | $75,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $20,499,769 |
| 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 | $16,200 |
| Fees for services: Legal | $37,216 |
| Fees for services: Accounting | $13,715 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| 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 | $3,088,141 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,054,751 |
| Insurance | $229,621 |
| All other expenses | $35,165 |
| Total functional expenses | $17,243,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,114,611 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $664,423 |
| 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 | $500,000 |
| Net Land, buildings, and equipment | $63,869,299 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $205,550 |
| Total assets | $69,353,883 |
| Accounts payable and accrued expenses | $1,552,652 |
| Grants payable | $0 |
| Deferred revenue | $205,550 |
| 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 | $39,390,374 |
| Total liabilities | $41,148,576 |
| Net assets without donor restrictions | $28,205,307 |
| 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 | $69,353,883 |