Form 990 for tax year 2023
Filed by RESEARCH TRIANGLE FOUNDATION OF NORTH CAROLINA.
Totals
- Total revenue
- $16,722,219
- Total expenses
- $23,544,149
- Contributions and grants received
- $0
- Grants paid
- $1,450
- Program service revenue
- $12,440,864
- Investment income
- $4,213,755
- Other revenue
- $67,600
- Total assets, end of year
- $216,643,585
- Total liabilities, end of year
- $97,831,560
- Net assets or fund balances, end of year
- $118,812,025
- Program services expenses (Part IX)
- $19,538,892
- Management and general expenses
- $4,005,257
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $19,538,892
Program services were 83.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: LEASING PROGRAM
total $11,551,738 · related or exempt $11,551,738
-
2b · Program service revenue: SHARED EXPENSE REIMBURSEMENT
total $812,576 · related or exempt $812,576
-
2c · Program service revenue: CONFERENCE INCOME
total $76,550 · related or exempt $76,550
-
3 · Investment income
total $670,879 · excluded $670,879
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $15,764,669 · other assets $1,188,561
-
7b · Less cost or other basis and sales expenses
securities $12,666,867 · other assets $743,487
-
7c · Gain or loss
securities $3,097,802 · other assets $445,074
-
7d · Net gain or loss
total $3,542,876 · excluded $3,542,876
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $83,242 · excluded $83,242
-
11b · Other revenue: INCOME/LOSS FROM SUB
total -$15,642 · excluded -$15,642
-
11e · Other revenue, total
$67,600
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,450 · program services $1,450
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $1,444,851 · program services $1,444,851
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $2,533,607 · program services $1,582,739 · management and general $950,868
-
8 · Pension plan contributions
total $282,608 · program services $221,462 · management and general $61,146
-
9 · Other employee benefits
total $672,932 · program services $382,760 · management and general $290,172
-
10 · Payroll taxes
total $257,698 · program services $201,942 · management and general $55,756
-
11a · Fees: management
total $616,326 · program services $616,326
-
11b · Fees: legal
total $102,377 · management and general $102,377
-
11c · Fees: accounting
total $156,946 · management and general $156,946
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $126,857 · management and general $126,857
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $368,494 · program services $298,277 · management and general $70,217
-
13 · Office expenses
total $1,643,775 · management and general $1,643,775
-
14 · Information technology
total $131,407 · management and general $131,407
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $251,994 · management and general $251,994
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $44,936 · program services $21,696 · management and general $23,240
-
20 · Interest
total $3,088,299 · program services $3,088,299
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $7,137,526 · program services $7,137,526
-
23 · Insurance
total $498,972 · program services $432,443 · management and general $66,529
-
24a · Other expenses: OTHER-BUILDING REPAIR
total $2,779,454 · program services $2,779,454
-
24b · Other expenses: PARTNERSHIP PROGRAM
total $530,982 · program services $530,982
-
24c · Other expenses: OTHER-MISCELLANEOUS
total $635,330 · program services $561,357 · management and general $73,973
-
24d · Other expenses: PROPERTY TAX
total $237,328 · program services $237,328
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,568,605 · end of year $36,016,747
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $2,839,956 · end of year $2,851,986
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $464,733 · end of year $275,837
-
10a · Land, buildings and equipment: cost or other basis
$204,146,209
-
10b · Land, buildings and equipment: accumulated depreciation
$37,630,737
-
10c · Land, buildings and equipment, net
beginning of year $162,376,463 · end of year $166,515,472
-
11 · Investments: publicly traded securities
beginning of year $35,252,021 · end of year $3,075,489
-
12 · Investments: other securities
beginning of year $7,770,566 · end of year $6,033,797
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $2,840,665 · end of year $1,874,257
-
17 · Accounts payable and accrued expenses
beginning of year $13,220,617 · end of year $7,451,801
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $1,311,558 · end of year $1,661,202
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $74,414,848 · end of year $87,851,233
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $786,128 · end of year $867,324
-
27 · Net assets without donor restrictions
beginning of year $124,379,858 · end of year $118,812,025
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
Mission and programs · 2023
Mission
TO PROMOTE UNIVERSITY, ACADEMIC, INDUSTRY AND GOVERNMENT COLLABORATIONS LEADING TO THE ESTABLISHMENT AND MAINTENANCE OF RESEARCH, SCIENTIFIC AND TECHNOLOGY-BASED FACILITIES WITHIN THE RESEARCH TRIANGLE AND NORTH CAROLINA, CREATING QUALITY JOBS AND OPPORTUNITIES FOR ITS CITIZENS.
Activities or mission (Part I)
PRIMARILY ENGAGED IN THE PROMOTION AND ENCOURAGEMENT OF RESEARCH OR SCIENTIFIC LABORATORIES AND OTHER RELATED FACILITIES IN RESEARCH TRIANGLE PARK.
-
PROVIDE FOR THE UPKEEP OF RTP ASSETS AND INFRASTRUCTURE TO ENHANCE THE PARK'S REPUTATION AS AN INNOVATIVE AND DYNAMIC ENVIRONMENT AND TO PROMOTE AND FOSTER RESEARCH FACILITIES IN THE 7,000 ACRE RESEARCH TRIANGLE PARK.
Expenses $11,393,101 · Grants $1,450 · Revenue $12,225,414
-
PROVIDE FOR THE PROMOTION OF PROGRAMS FOR THE RTP COMMUNITY AND TRIANGLE REGION.
Expenses $5,560,190 · Revenue $95,450
-
PARK CENTER 100 ACRES REDEVELOPMENT PROVIDES INNOVATORS TO COME TOGETHER TO BE INSPIRED, PROVIDE A PLACE FOR LEADERS IN TECHNOLOGY, SCIENCE, THE ARTS AND THE HUMANITIES TO COLLABORATE AND CREATE JOBS AND A BETTER FUTURE FOR ALL NORTH CAROLINIANS. THE DEVELOPMENT INCLUDES RETAIL, RESIDENTIAL AND OFFICE AMENITIES WITH A PLETHORA OF PUBLIC PARKS AND SPACE THAT WILL BE USED BY ENTREPRENEURS AND NORTH CAROLINIANS.
Expenses $1,878,276 · Revenue $120,000
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Scott LevitanSCOTT LEVITAN
PRESIDENT & CEO
- Total calculated
- $682,079
- From this org
- $606,947
- From related orgs
- $0
- Other
- $75,132
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $493,081
- Bonus
- $101,866
- Other
- $12,000
- Deferred
- $60,871
- Nontaxable benefits
- $14,261
- Filer's total
- $682,079
-
Linda K HallLINDA K HALL
EVP & COO (THRU 4/15/2024)
- Total calculated
- $505,558
- From this org
- $444,892
- From related orgs
- $0
- Other
- $60,666
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $351,890
- Bonus
- $81,002
- Other
- $12,000
- Deferred
- $46,113
- Nontaxable benefits
- $14,553
- Filer's total
- $505,558
-
Carolyn CoiaCAROLYN COIA
VP REAL ESTATE
- Total calculated
- $272,333
- From this org
- $241,855
- From related orgs
- $0
- Other
- $30,478
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $199,855
- Bonus
- $30,000
- Other
- $12,000
- Deferred
- $23,296
- Nontaxable benefits
- $7,182
- Filer's total
- $272,333
-
Jessica WisniewskiJESSICA WISNIEWSKI
VP FINANCE & ADMINISTRATION
- Total calculated
- $238,365
- From this org
- $194,178
- From related orgs
- $0
- Other
- $44,187
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $169,178
- Bonus
- $25,000
- Other
- $0
- Deferred
- $21,433
- Nontaxable benefits
- $22,754
- Filer's total
- $238,365
-
Amanda RonanAMANDA RONAN
SENIOR DIRECTOR PLACEMAKING
- Total calculated
- $161,660
- From this org
- $124,819
- From related orgs
- $0
- Other
- $36,841
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $110,819
- Bonus
- $14,000
- Other
- $0
- Deferred
- $14,087
- Nontaxable benefits
- $22,754
- Filer's total
- $161,660
-
David WieandDAVID WIEAND
ACCOUNTING MANAGER
- Total calculated
- $141,840
- From this org
- $115,953
- From related orgs
- $0
- Other
- $25,887
- Hours/week
- 40
-
Travis CraytonTRAVIS CRAYTON
VP PLANNING & PUBLIC POLICY
- Total calculated
- $138,316
- From this org
- $124,488
- From related orgs
- $0
- Other
- $13,828
- Hours/week
- 40
-
Kevin PattersonKEVIN PATTERSON
DIRECTOR OF IT
- Total calculated
- $126,298
- From this org
- $100,942
- From related orgs
- $0
- Other
- $25,356
- Hours/week
- 40
-
Raymond TrappRAYMOND TRAPP
FORMER OFFICER
- Total calculated
- $116,923
- From this org
- $102,245
- From related orgs
- $0
- Other
- $14,678
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- $77,140
- Bonus
- $0
- Other
- $25,105
- Deferred
- $8,111
- Nontaxable benefits
- $6,567
- Filer's total
- $116,923
-
Barbara MulkeyBARBARA MULKEY
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Brad WilsonBRAD WILSON
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Anita Brown-GrahamANITA BROWN-GRAHAM
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Hugh AllenHUGH ALLEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Farad AliFARAD ALI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brooks BellBROOKS BELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jud BowmanJUD BOWMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John CecilJOHN CECIL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Daniel EnnisDANIEL ENNIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Charles FrancisCHARLES FRANCIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tim GabelTIM GABEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Peter HansPETER HANS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Greg LubereckiGREG LUBERECKI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Howard NyeHOWARD NYE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Vincent PriceDR VINCENT PRICE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lee RobertsLEE ROBERTS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Randy WoodsonDR RANDY WOODSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Independent compensation consultant
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
DAVIS 54 LLC
SEE PART VII · NC · income $0 · assets $0
Directly controlled by RTF
-
PARK CENTER EAST LLC
SEE PART VII · NC · income $126,011 · assets $45,888,993
Directly controlled by RTF
-
FRONTIER HUB LLC
SEE PART VII · NC · income $10,916,339 · assets $45,716,946
Directly controlled by RTF
-
BOXYARD RTP LLC
SEE PART VII · NC · income $465,687 · assets $8,861,908
Directly controlled by RTF
-
HORSESHOE RTF DEVELOPMENT LLC
SEE PART VII · NC · income $0 · assets $55,057,693
Directly controlled by RTF
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
TRIANGLE SERVICE CENTER INC
C CORP · SEE PART VII · NC · 100% owned · share of income $1,366,166 · share of assets $18,936,393 · controlled entity
Directly controlled by RTF
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 28 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202531499349300703
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