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← MID ATLANTIC TECHNOLOGY RESEARCH AND INNOVATION CENTER INC

Form 990 for tax year 2023

Filed by MID ATLANTIC TECHNOLOGY RESEARCH AND INNOVATION CENTER INC.

Totals

Total revenue
-$1,141,612
Total expenses
$4,992
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
-$1,141,612
Other revenue
$0
Total assets, end of year
$3,109,570
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,109,570
Program services expenses (Part IX)
$3,998
Management and general expenses
$994
Fundraising expenses
$0
Program service expenses (Part III)
$3,998

Program services were 80.1% 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.

  • 3 · Investment income

    total $212,571 · excluded $212,571

  • 7a · Gross sales of assets other than inventory

    other assets $5,787,370

  • 7b · Less cost or other basis and sales expenses

    other assets $7,141,553

  • 7c · Gain or loss

    other assets -$1,354,183

  • 7d · Net gain or loss

    total -$1,354,183 · excluded -$1,354,183

Functional expenses

Part IX, the statement of functional expenses.

  • 11f · Fees: investment management

    total $994 · management and general $994

  • 23 · Insurance

    total $3,998 · program services $3,998

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,197,127 · end of year $35,734

  • 2 · Savings and temporary cash investments

    end of year $633,756

  • 4 · Accounts receivable

    beginning of year $2,016,653

  • 7 · Other notes and loans receivable

    end of year $2,350,794

  • 9 · Prepaid expenses and deferred charges

    beginning of year $333,825

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $2,894,400

  • 14 · Intangible assets

    beginning of year $109,890

  • 15 · Other assets

    beginning of year $1,606,450 · end of year $89,286

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,344,338

  • 19 · Deferred revenue

    beginning of year $409,158

  • 23 · Secured mortgages and notes payable

    beginning of year $1,111,486

  • 25 · Other liabilities

    beginning of year $1,037,189 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $4,256,174 · end of year $3,109,570

Mission and programs · 2023

Mission

TO PROVIDE THE GREATER KANAWHA VALLEY AREA OF WEST VIRGINIA CHARITABLE, SCIENTIFIC, AND EDUCATIONAL RESEARCH WHICH CAN BE UTILIZED TO FOSTER ECONOMIC DEVELOPMENT.

Activities or mission (Part I)

CHARITABLE, SCIENTIFIC, AND EDUCATIONAL RESEARCH AND ECONOMIC DEVELOPMENT

  • SERVICE OUTPUT: TO HELP REVITALIZE INDUSTRY WITHIN THE GEOGRAPHIC AREA. POPULATION SERVED: 100,000

    Expenses $3,998 · Revenue $212,571

As filed on the 2023 return.

Listed in Part VII

  • WILLIAM B GOODE

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN M WOOMER

    TREASURER

    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.

Grants on this return

No itemized grants to organizations on this return.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202433169349302428

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