Gateway Research Park Inc
- Assets
- $77.3m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 19
- Location
- Greensboro, NC
- Founding
- 12/2004
- Data as of
- 06/2022
- EIN
- 90-0131526
Organization Overview
Gateway Research Park Inc is located in Greensboro, NC. The organization was established in 2004. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Gateway Research Park Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gateway Research Park 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, Gateway Research Park Inc generated $5.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $7.4m 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
THE ORGANIZATION IS A CATALYST FOR UNIVERSITY RESEARCH, INNOVATION, AND ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO BE A CATALYST FOR ENHANCING THE RESEARCH ENTERPRISE FOR NORTH CAROLINA AGRICULTURAL & TECHNICAL STATE UNIVERSITY AND THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO WHILE ENHANCING/PROMOTING THE COMMUNITY THROUGH ECONOMIC AND CULTURAL DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Jim Westmoreland Interim Exec. Director | OfficerTrustee | 40 | $210,000 |
Mr James Chaplin II Director Of Facilities | 40 | $115,591 | |
Ms Rene Whitesell Secretary/treasurer | OfficerTrustee | 1 | $0 |
Dr Debbie Storrs Member, Board Of Directors | OfficerTrustee | 1 | $0 |
Dr Charles E Mcqueary Chair | OfficerTrustee | 5 | $0 |
Dr Terri Shelton Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Samet Corporation Construction | 6/29/22 | $119,468 |
Admiral Security Services Security | 6/29/22 | $154,405 |
Southeastern Service Group Inc Janitorial/maintenance | 6/29/22 | $174,300 |
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 | $718,017 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $718,017 |
| Total Program Service Revenue | $4,479,839 |
| Investment income | $289,974 |
| 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 | $5,504,159 |
| 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. | $227,664 |
| Compensation of current officers, directors, key employees. | $56,916 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $968,961 |
| Pension plan accruals and contributions | $54,087 |
| Other employee benefits | $57,143 |
| Payroll taxes | $77,315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $77,531 |
| Fees for services: Accounting | $50,369 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,239 |
| Advertising and promotion | $3,426 |
| Office expenses | $22,635 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,077,286 |
| Travel | $103 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $765,733 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,463,848 |
| Insurance | $112,811 |
| All other expenses | $17,714 |
| Total functional expenses | $7,364,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,584,108 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,783,605 |
| 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 | $59,925 |
| Net Land, buildings, and equipment | $68,742,717 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $159,098 |
| Total assets | $77,329,453 |
| Accounts payable and accrued expenses | $398,307 |
| Grants payable | $0 |
| Deferred revenue | $6,924,256 |
| 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 | $17,764,617 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $159,098 |
| Total liabilities | $25,246,278 |
| Net assets without donor restrictions | $52,083,175 |
| 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 | $77,329,453 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Gateway Research Park Inc has recieved totaling $22,500.
| Awarding Organization | Amount |
|---|---|
Bell Foundation Inc 1025874768 Greensboro, NC PURPOSE: GENERAL OPERATING | $12,500 |
Stanley & Dorothy Frank Family Foundation Greensboro, NC PURPOSE: general support | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Susan B Anthony List Inc Arlington, VA | $6,109,204 | $16,065,131 |
Georgia Advanced Technology Ventures Inc Atlanta, GA | $206,195,666 | $20,980,407 |
North Raleigh Christian Academy Raleigh, NC | $50,620,236 | $15,888,714 |
Seton Home Study School Front Royal, VA | $19,128,742 | $13,590,541 |
Instruction Partners Nashville, TN | $7,038,441 | $15,858,376 |
Centennial Place Academy Inc Atlanta, GA | $7,663,078 | $14,548,051 |
Read Foundation Memphis, TN | $15,946,000 | $13,611,845 |
Strategic Capacity Group Inc Mclean, VA | $1,824,045 | $10,738,430 |
Georgia School Boards Association Workers Compensation Fund Lawrenceville, GA | $82,470,003 | $15,076,432 |
Phoenix Counseling Center Mooresville, NC | $4,757,713 | $10,250,930 |
Nashville Christian Schools Inc Nashville, TN | $15,861,527 | $11,380,929 |
Global Entrepreneurship Network Inc Arlington, VA | $6,928,946 | $10,036,868 |