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← MISSISSIPPI STATE UNIVERSITY RESEARCH AND TECHNOLOGY CORP

Form 990 for tax year 2022

Filed by MISSISSIPPI STATE UNIVERSITY RESEARCH AND TECHNOLOGY CORP.

Totals

Total revenue
$5,292,653
Total expenses
$4,502,609
Contributions and grants received
$1,310,562
Grants paid
$0
Program service revenue
$0
Investment income
$87,369
Other revenue
$3,894,722
Total assets, end of year
$41,884,728
Total liabilities, end of year
$33,720,470
Net assets or fund balances, end of year
$8,164,258
Program services expenses (Part IX)
$4,074,852
Management and general expenses
$427,757
Fundraising expenses
$0
Program service expenses (Part III)
$4,074,852

Program services were 90.5% 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)

    $1,310,490

  • 1f · All other contributions, gifts and grants

    $72

  • 3 · Investment income

    total $87,369 · related or exempt $87,369

  • 6a · Gross rents

    real property $2,538,814

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $2,538,814

  • 6d · Net rental income or loss

    total $2,538,814 · related or exempt $2,538,814

  • 11a · Other revenue: OTHER INCOME

    total $1,355,908 · related or exempt $1,355,908

  • 11e · Other revenue, total

    $1,355,908

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $302,527 · management and general $302,527

  • 11a · Fees: management

    total $18,500 · program services $18,500

  • 11b · Fees: legal

    total $4,984 · management and general $4,984

  • 11c · Fees: accounting

    total $18,051 · management and general $18,051

  • 13 · Office expenses

    total $21,997 · program services $11,721 · management and general $10,276

  • 16 · Occupancy

    total $289,073 · program services $289,073

  • 17 · Travel

    total $5,561 · management and general $5,561

  • 20 · Interest

    total $192,751 · program services $192,751

  • 22 · Depreciation, depletion and amortization

    total $1,325,161 · program services $1,325,161

  • 23 · Insurance

    total $82,722 · program services $65,334 · management and general $17,388

  • 24a · Other expenses: UTILITIES

    total $1,234,289 · program services $1,234,289

  • 24b · Other expenses: CONSULTANTS - SUBCONTRA

    total $475,138 · program services $475,138

  • 24c · Other expenses: FACILITIES AND EQUIPMEN

    total $273,818 · program services $273,818

  • 24d · Other expenses: LANDSCAPING

    total $101,892 · program services $101,892

  • 24e · All other expenses

    total $156,145 · program services $87,175 · management and general $68,970

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,738,998 · end of year $1,930,525

  • 4 · Accounts receivable

    beginning of year $239,845 · end of year $399,212

  • 7 · Other notes and loans receivable

    beginning of year $5,403

  • 9 · Prepaid expenses and deferred charges

    beginning of year $37,561 · end of year $37,561

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

    $51,248,785

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

    $13,652,952

  • 10c · Land, buildings and equipment, net

    beginning of year $36,752,521 · end of year $37,595,833

  • 12 · Investments: other securities

    beginning of year $67,508 · end of year $100,008

  • 15 · Other assets

    beginning of year $9,266 · end of year $1,821,589

  • 17 · Accounts payable and accrued expenses

    beginning of year $857,714 · end of year $209,537

  • 19 · Deferred revenue

    beginning of year $87,233 · end of year $119,306

  • 23 · Secured mortgages and notes payable

    beginning of year $8,927,232 · end of year $11,050,626

  • 24 · Unsecured notes and loans payable

    beginning of year $1,693,093 · end of year $1,669,989

  • 25 · Other liabilities

    beginning of year $19,882,891 · end of year $20,671,012

  • 27 · Net assets without donor restrictions

    beginning of year $7,402,939 · end of year $8,164,258

Mission and programs · 2022

Mission

TO ENCOURAGE AND PROMOTE NEW TECHNOLOGIES AND RESEARCH BY WORKING WITH BUSINESS, INDUSTRY AND MISSISSIPPI STATE UNIVERSITY.

Activities or mission (Part I)

ENCOURAGE & PROMOTE NEW TECHNOLOGIES & RESEARCH BY WORKING WITH BUSINESS, INDUSTRY AND MSU.

  • BUILDING AND MAINTENANCE TO MAINTAIN THE UPKEEP OF BUILDINGS CONSTRUCTED FOR THE PURPOSE OF HOUSING RESEARCH AND DEVELOPMENT ACTIVITIES

    Expenses $4,074,852 · Revenue $2,538,814

As filed on the 2022 return.

Listed in Part VII

  • Marc McGee

    DIRECTOR

    Total calculated
    $184,185
    From this org
    $0
    From related orgs
    $184,185
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $184,185 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $184,185 related

  • Camille Young

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Ben Moncrief

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • John Rush

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • David Shaw

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Greg Hinkebein

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Kent Bloodworth

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Julie Jordan

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Keith Coble

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Don Zant

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Joan Lucas

    SECRETARY/GENERAL COUNSEL

    Total calculated
    $0
    Hours/week
    0

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

None.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
16 January 2024
IRS schema version
2022v5.0
Source object
202430619349300083

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