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← PATUXENT PARTNERSHIP INC

Form 990 for tax year 2022

Filed by PATUXENT PARTNERSHIP INC.

Totals

Total revenue
$7,486,941
Total expenses
$7,382,974
Contributions and grants received
$67,540
Grants paid
$408,406
Program service revenue
$7,351,710
Investment income
$35,406
Other revenue
$32,285
Total assets, end of year
$3,938,081
Total liabilities, end of year
$1,571,027
Net assets or fund balances, end of year
$2,367,054
Program services expenses (Part IX)
$6,487,254
Management and general expenses
$895,720
Fundraising expenses
$0
Program service expenses (Part III)
$6,487,254

Program services were 87.9% 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.

  • 1e · Government grants (contributions)

    $10,956

  • 1f · All other contributions, gifts and grants

    $56,584

  • 2a · Program service revenue: IPA REVENUE

    total $6,044,513 · related or exempt $6,044,513

  • 2b · Program service revenue: PROGRAM SERVICES

    total $1,104,187 · related or exempt $1,104,187

  • 2c · Program service revenue: MEMBERSHIP DUES

    total $133,154 · related or exempt $133,154

  • 2d · Program service revenue: EVENT REVENUE

    total $69,856 · related or exempt $69,856

  • 3 · Investment income

    total $35,406 · excluded $35,406

  • 6a · Gross rents

    real property $32,272

  • 6c · Rental income or loss

    real property $32,272

  • 6d · Net rental income or loss

    total $32,272 · excluded $32,272

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $13 · related or exempt $13

  • 11e · Other revenue, total

    $13

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $408,406 · program services $408,406

  • 5 · Compensation of officers, directors and key employees

    total $177,891 · program services $177,891

  • 7 · Other salaries and wages

    total $4,603,938 · program services $4,186,147 · management and general $417,791

  • 8 · Pension plan contributions

    total $261,924 · program services $235,645 · management and general $26,279

  • 9 · Other employee benefits

    total $765,675 · program services $654,669 · management and general $111,006

  • 10 · Payroll taxes

    total $413,996 · program services $378,858 · management and general $35,138

  • 11g · Fees: other

    total $24,800 · management and general $24,800

  • 12 · Advertising and promotion

    total $7,390 · program services $7,390

  • 13 · Office expenses

    total $39,131 · management and general $39,131

  • 14 · Information technology

    total $54,535 · management and general $54,535

  • 16 · Occupancy

    total $136,660 · management and general $136,660

  • 17 · Travel

    total $78,340 · program services $62,811 · management and general $15,529

  • 19 · Conferences, conventions and meetings

    total $4,816 · program services $97 · management and general $4,719

  • 22 · Depreciation, depletion and amortization

    total $7,536 · management and general $7,536

  • 23 · Insurance

    total $22,596 · management and general $22,596

  • 24a · Other expenses: EDUCATION AND OUTREACH

    total $304,154 · program services $304,154

  • 24b · Other expenses: STEM INITIATIVES

    total $69,186 · program services $69,186

  • 24c · Other expenses: WORKFORCE RETENTION

    total $2,000 · program services $2,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $277,016 · end of year $274,748

  • 2 · Savings and temporary cash investments

    beginning of year $810,889 · end of year $364,964

  • 4 · Accounts receivable

    beginning of year $619,117 · end of year $1,160,286

  • 9 · Prepaid expenses and deferred charges

    beginning of year $94,287 · end of year $39,888

  • 10a · Land, buildings and equipment: cost or other basis

    $74,809

  • 10b · Land, buildings and equipment: accumulated depreciation

    $64,210

  • 10c · Land, buildings and equipment, net

    beginning of year $18,135 · end of year $10,599

  • 11 · Investments: publicly traded securities

    beginning of year $1,012,359 · end of year $1,042,839

  • 15 · Other assets

    beginning of year $10,257 · end of year $1,044,757

  • 17 · Accounts payable and accrued expenses

    beginning of year $311,457 · end of year $350,966

  • 19 · Deferred revenue

    beginning of year $263,441 · end of year $181,864

  • 25 · Other liabilities

    beginning of year $3,240 · end of year $1,038,197

  • 27 · Net assets without donor restrictions

    beginning of year $2,263,922 · end of year $2,367,054

Mission and programs · 2022

Mission

THE PATUXENT PARTNERSHIP IS DEDICATED TO THE DEVELOPMENT OF THE TECHNOLOGY COMMUNITY IN SOUTHERN MARYLAND BY PARTNERING GOVERNMENT, ACADEMIA, AND THE PRIVATE SECTOR.

  • THE PATUXENT PARTNERSHIP (TPP) IS A NON-PROFIT MEMBER ORGANIZATION THAT WORKS WITH GOVERNMENT, INDUSTRY AND ACADEMIA TO ADVANCE EDUCATION THROUGH STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATH) BASED INITIATIVES, TO ADVANCE TECHNOLOGY THROUGH SPEAKER PROGRAMS AND NETWORKING, TO ADVANCE SCIENCE AND TECHNOLOGY TRANSFER THROUGH THE EXCHANGE OF IDEAS, INFORMATION AND DATA RELATED TO TECHNOLOGIES, AND TO FOSTER WORKFORCE DEVELOPMENT THROUGH AN ARRAY OF INITIATIVES. TPP FOSTERS COOPERATION AND COLLABORATION AMONG ACADEMIA, PRIVATE INDUSTRY AND GOVERNMENT, BRINGING TOGETHER THE KEY ECONOMIC DRIVERS IN SOUTHERN MARYLAND TO COLLABORATE ON GROWTH FOR THE BETTERMENT OF ALL.

    Expenses $6,487,254 · Grants $408,406 · Revenue $7,351,710

As filed on the 2022 return.

Listed in Part VII

  • DOUG BELVIN

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • MIKE MORGAN

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • APRIL TSIRIGOTIS

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • TROY TOWNSEND

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • LARRY HOLLINGSWORTH

    AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • BONNIE GREEN

    EXECUTIVE DI

    Total calculated
    $177,892
    From this org
    $169,159
    From related orgs
    $0
    Other
    $8,733
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,159
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,198
    Nontaxable benefits
    $535
    Filer's total
    $177,892

  • MIKE DEMANSS

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PHIL FICKES

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HEIDI FLEMING

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRIS KASELEMIS

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JAQUELINE MARSTELLER

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DALE MOORE

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RON OBLEN

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TOM PHELAN

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ED RULE

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TOM SANDERS

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MATT SCASSERO

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RAY WERNECKE

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SCOTT WHITE

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DOUGLAS DESROCHERS

    IPA EMPLOYEE

    Total calculated
    $277,886
    From this org
    $246,110
    From related orgs
    $0
    Other
    $31,776
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $242,428
    Bonus
    $3,682
    Other
    not reported
    Deferred
    $14,767
    Nontaxable benefits
    $17,009
    Filer's total
    $277,886

  • ERIC SWENSON

    IPA EMPLOYEE

    Total calculated
    $203,753
    From this org
    $190,908
    From related orgs
    $0
    Other
    $12,845
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,908
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,455
    Nontaxable benefits
    $1,390
    Filer's total
    $203,753

  • JAMES SMALL

    IPA EMPLOYEE

    Total calculated
    $235,772
    From this org
    $221,492
    From related orgs
    $0
    Other
    $14,280
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,178
    Bonus
    $3,314
    Other
    not reported
    Deferred
    $13,290
    Nontaxable benefits
    $990
    Filer's total
    $235,772

  • MICHAEL MCGUINNESS

    IPA EMPLOYEE

    Total calculated
    $204,250
    From this org
    $191,660
    From related orgs
    $0
    Other
    $12,590
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,660
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,500
    Nontaxable benefits
    $1,090
    Filer's total
    $204,250

  • STEPHEN SPEHN

    IPA EMPLOYEE

    Total calculated
    $204,250
    From this org
    $191,660
    From related orgs
    $0
    Other
    $12,590
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,660
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,500
    Nontaxable benefits
    $1,090
    Filer's total
    $204,250

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 · 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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
9 January 2023
IRS schema version
2022v5.0
Source object
202440179349301704

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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