Unm Rainforest Innovations
- Assets
- $22.6m
- Revenue
- $58.0m
- Investments
- $1.8k
- Employees
- 34
- Location
- Albuquerque, NM
- Founding
- 06/1994
- Data as of
- 06/2021
- EIN
- 85-0413634
Organization Overview
Unm Rainforest Innovations is located in Albuquerque, NM. The organization was established in 1994. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Unm Rainforest Innovations employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Unm Rainforest Innovations 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, Unm Rainforest Innovations generated $58.0m in total revenue. All expenses for the organization totaled $52.3m during the year ending 06/2021. While expenses have increased by 237.0% per year over the past 2 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
SUPPORTING THE UNIVERSITY OF NEW MEXICO AS THE SOURCE OF INNOVATION MANAGEMENT, PATENT PROSECUTION AND LICENSING OF TECHNOLOGIES DEVELOPED AT THE UNIVERSITY OF NEW MEXICO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNM RAINFOREST INNOVATIONS IS THE TECHNOLOGY TRANSFER AND ECONOMIC DEVELOPMENT ORGANIZATION SUPPORTING THE UNIVERSITY OF NEW MEXICO ("UNM") AND THE CORPORATION WAS FORMED UNDER THE STATE OF NEW MEXICO UNIVERSITY RESEARCH PARK AND ECONOMIC DEVELOPMENT ACT. UNM RAINFOREST INNOVATIONS ENDEAVORS TO MAKE IT EASY, AS POSSIBLE, FOR UNM RESEARCHERS AND FACULTY INVENTORS TO DISCLOSE INNOVATIONS. UNM RAINFOREST INNOVATIONS PROTECTS TECHNOLOGIES (INTELLECTUAL PROPERTY) DEVELOPED AT UNM THROUGH PATENT AND COPYRIGHT CONSISTENT WITH THE PROVISIONS OF THE FEDERAL BAYH-DOLE ACT. DURING FISCAL YEAR 2022, NM RAINFOREST INNOVATIONS RECEIVED 45 ISSUED PATENTS FROM THE U.S. PATENT AND TRADEMARK OFFICE AND FILED 56 NEW PATENT APPLICATION WITH THE U.S. PATENT AND TRADEMARK OFFICE. ADDITIONALLY, DURING THE FISCAL YEAR 2022, UNM RAINFOREST INNOVATIONS ENTERED INTO 41 LICENSE AND OPTION-TO-LICENSE AGREEMENTS. AS THE ECONOMIC DEVELOPMENT ORGANIZATION FOR THE UNIVERSITY OF NEW MEXICO, UNM RAINFOREST INNOVATIONS SEEKS TO FIND VARIOUS INITIATIVES TO CREATE ECONOMIC DEVELOPMENT THAT IS RELEVANT TO THE UNIVERSITY. UNM RAINFOREST INNOVATIONS HAS RECEIVED, IN FISCAL YEAR 2022, TWO U.S. ECONOMIC DEVELOPMENT ADMINISTRATION GRANTS TO PROMOTE JOB CREATION, CREATE BROADER OPPORTUNITIES THROUGH ENTREPRENEURSHIP AND REDUCE BARRIERS TO ENTREPRENEURSHIP AND ASSIST INVENTORS TO COMMERCIALIZE THEIR INVENTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Ziedonis Director | Trustee | 1 | $0 |
Garnett Stokes Director | Trustee | 1 | $0 |
Richard Larson Director (through 6/30/22) | Trustee | 1 | $0 |
James Holloway Vice Chair | OfficerTrustee | 2 | $0 |
Teresa Costantinidis Director | Trustee | 1 | $0 |
Mitzi Montoya Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shore Chan Depumpo Llc Patent Legal Services | 6/29/22 | $29,278,991 |
Ipris Ag Patent Legal Services | 6/29/22 | $332,033 |
Schwegman Lundberg & Woessner Patent Legal Services | 6/29/22 | $256,252 |
Mh2 Technology Law Group Patent Legal Services | 6/29/22 | $242,569 |
Cosud Intellectual Property Solutions Pc Patent Legal Services | 6/29/22 | $210,521 |
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 | $57,767,707 |
| Investment income | $164,578 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $70,133 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,002,418 |
| 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. | $1,445,224 |
| Compensation of current officers, directors, key employees. | $308,351 |
| Compensation to disqualified persons | $2,143,626 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $73,724 |
| Other employee benefits | $73,171 |
| Payroll taxes | $157,779 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,845,899 |
| Fees for services: Accounting | $29,126 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $49,568 |
| Fees for services: Other | $0 |
| Advertising and promotion | $94,656 |
| Office expenses | $94,885 |
| Information technology | $34,864 |
| Royalties | $12,002,640 |
| Occupancy | $204,528 |
| Travel | $95 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,250 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,596 |
| Insurance | $32,121 |
| All other expenses | $0 |
| Total functional expenses | $52,298,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,840,647 |
| Savings and temporary cash investments | $307,569 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $754,737 |
| 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 |
| Net Land, buildings, and equipment | $35,656 |
| Investments—publicly traded securities | $12,646,362 |
| Investments—other securities | $1,750 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,586,721 |
| Accounts payable and accrued expenses | $3,394,395 |
| 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 | $4,425,383 |
| Total liabilities | $7,819,778 |
| Net assets without donor restrictions | $14,766,943 |
| 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 | $22,586,721 |