Mrva Inc
- Assets
- $338.5k
- Revenue
- $175.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Kihei, HI
- Founding
- Data as of
- 12/2022
- EIN
- 86-2319116
Organization Overview
Mrva Inc is located in Kihei, HI. According to its NTEE Classification (B60) the organization is classified as: Adult Education, 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. Mrva 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 12/2022, Mrva Inc generated $175.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $455.7k during the year ending 12/2022. 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 PROVIDE AND SUPPORT LEARNING OPPORTUNITIES FOR COLLEGE AND HIGH SCHOOL STUDENTS TO FURTHER THEIR SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH KNOWLEDGE AND INTERESTS VIA HANDS-ON EXPERIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MRVA FOCUSED MOST OF IT PROGRAM IN 2021 ON PARTICIPATING IN THE IAC AUTONOMOUS VEHICLE COMPETITION. THE PROGRAM BRINGS TOGETHER TALENTED UNIVERSITY STUDENTS (FOCUSED ON HAWAII BUT INCLUDES OTHERS) TO PROVIDE HANDS-ON / MULTI-PERSON DEVELOPMENT EXPERIENCE TO ENRICH THEIR UNIVERSITY TRAINING IN ENGINEERING. THE STUDENTS ARE TASKED TO DEVELOP AN AUTONOMOUS SOFTWARE SYSTEM TO PERFORM AT VERY HIGH SPEED IN FULL SIZED VEHICLE. THEY ARE SUPPORTED BY STAFF, MENTORS, AND ADVISORS FROM SUPPORTING UNIVERSITIES AS WELL AS INDUSTRY. THE AIRACINGTECH TEAM CONSISTS ON BETWEEN 6-20 STUDENTS AND BUID THEIR FIRST SOFTWARE MODULES IN 2021. THEY COMPETED IN 2 INTERNATIONAL ROUNDS OF COMPETITION AND FINISHED IN THE TOP 8 IN BOTH.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Powers Director | Trustee | 5 | $0 |
Wade Koglin Vice Preside | Officer | 5 | $0 |
Gary Passon President/tr | Officer | 30 | $0 |
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 | $175,450 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,450 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $175,450 |
| 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 | $0 |
| Fees for services: Accounting | $4,013 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,340 |
| Advertising and promotion | $279 |
| Office expenses | $994 |
| Information technology | $3,143 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,999 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $297 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $93,709 |
| Insurance | $1,863 |
| All other expenses | $0 |
| Total functional expenses | $455,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,511 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $334,947 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $338,458 |
| Accounts payable and accrued expenses | $0 |
| 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 | $745,925 |
| Other liabilities | $29,538 |
| Total liabilities | $775,463 |
| Net assets without donor restrictions | -$437,005 |
| 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 | $338,458 |