Form 990 for tax year 2023
Filed by UNIVERSITY OF RHODE ISLAND RESEARCH FOUNDATION.
Totals
- Total revenue
- $11,022,838
- Total expenses
- $11,066,334
- Contributions and grants received
- $9,710,917
- Grants paid
- $0
- Program service revenue
- $1,311,746
- Investment income
- $175
- Other revenue
- $0
- Total assets, end of year
- $6,783,523
- Total liabilities, end of year
- $2,287,808
- Net assets or fund balances, end of year
- $4,495,715
- Program services expenses (Part IX)
- $10,115,898
- Management and general expenses
- $950,436
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $10,115,898
Program services were 91.4% 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.
-
1d · Related organizations
$360,441
-
1e · Government grants (contributions)
$9,170,437
-
1f · All other contributions, gifts and grants
$180,039
-
2a · Program service revenue: PROJECT REVENUE
total $510,486 · unrelated business $0 · excluded $0
-
2b · Program service revenue: LICENSING INCOME
total $635,367 · unrelated business $0 · excluded $0
-
2c · Program service revenue: RESEARCH AND DEV SERVICE
total $165,893 · unrelated business $0 · excluded $0
-
3 · Investment income
total $175 · unrelated business $0 · excluded $175
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $3,313,966 · program services $2,855,933 · management and general $458,033 · fundraising $0
-
9 · Other employee benefits
total $548,223 · program services $489,063 · management and general $59,160 · fundraising $0
-
10 · Payroll taxes
total $280,430 · program services $250,103 · management and general $30,327 · fundraising $0
-
11b · Fees: legal
total $37,558 · program services $0 · management and general $37,558 · fundraising $0
-
11c · Fees: accounting
total $21,171 · program services $0 · management and general $21,171 · fundraising $0
-
11d · Fees: lobbying
total $225,000 · program services $225,000 · management and general $0 · fundraising $0
-
12 · Advertising and promotion
total $209,166 · program services $206,536 · management and general $2,630 · fundraising $0
-
13 · Office expenses
total $273,717 · program services $102,523 · management and general $171,194 · fundraising $0
-
15 · Royalties
total $85,797 · program services $85,797 · management and general $0 · fundraising $0
-
16 · Occupancy
total $269,664 · program services $269,664 · management and general $0 · fundraising $0
-
17 · Travel
total $210,714 · program services $210,136 · management and general $578 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $155,125 · program services $154,771 · management and general $354 · fundraising $0
-
23 · Insurance
total $50,185 · program services $0 · management and general $50,185 · fundraising $0
-
24a · Other expenses: CONSULTING FEES
total $2,748,914 · program services $2,635,635 · management and general $113,279 · fundraising $0
-
24b · Other expenses: SUBCONTRACTORS - R&D SERVICES
total $116,611 · program services $116,611 · management and general $0 · fundraising $0
-
24c · Other expenses: INTELLECTUAL PROPERTY COSTS
total $405,732 · program services $405,732 · management and general $0 · fundraising $0
-
24d · Other expenses: PROFESSIONAL FEES
total $338,424 · program services $338,424 · management and general $0 · fundraising $0
-
24e · All other expenses
total $1,775,937 · program services $1,769,970 · management and general $5,967 · fundraising $0
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $511,283 · end of year $48,960
-
4 · Accounts receivable
beginning of year $1,439,337 · end of year $1,967,419
-
10a · Land, buildings and equipment: cost or other basis
$2,177,280
-
10b · Land, buildings and equipment: accumulated depreciation
$338,778
-
10c · Land, buildings and equipment, net
beginning of year $1,490,750 · end of year $1,838,502
-
13 · Investments: program-related
beginning of year $1,372,190 · end of year $1,416,540
-
15 · Other assets
beginning of year $1,664,495 · end of year $1,512,102
-
17 · Accounts payable and accrued expenses
beginning of year $721,166 · end of year $1,243,578
-
19 · Deferred revenue
beginning of year $110,788 · end of year $250,862
-
25 · Other liabilities
beginning of year $1,268,886 · end of year $793,368
-
27 · Net assets without donor restrictions
beginning of year $4,028,518 · end of year $4,179,894
-
28 · Net assets with donor restrictions
beginning of year $348,697 · end of year $315,821
Mission and programs · 2023
Mission
BE A LEADING DRIVER OF ECONOMIC PROSPERITY FOR RHODE ISLAND BY PROVIDING A SCALABLE, FLEXIBLE SHARED-SUPPORT STRUCTURE FOR OUR CURRENT AND FUTURE PORTFOLIO ENTITIES AND ENGAGING URI AND RESEARCH, THE MANUFACTURING COMMUNITY, AND OTHER REGIONAL RESOURCES AND PARTNERSHIPS TO ACCELERATE INNOVATION, ADVANCEMENT, AND ENTREPRENEURSHIP IN RIS COMMERCIAL AND TECHNOLOGICAL ECOSYSTEM, PARTICULARLY URI.
Activities or mission (Part I)
Be a leading driver of economic prosperity for Rhode Island by providing a scalable, flexible shared-support structure for our current and future portfolio entities and engaging URI research, the manufacturing community, and other regional resources and partnerships to accelerate innovation, advancement, and entrepreneurship in RIs commercial and technological ecosystem, particularly URI.
-
FACILITATE THE TRANSITION OF URI TECHNOLOGIES INTO USEFUL PRODUCTS AND SERVICES THROUGH INTELLECTUAL PROPERTY LICENSES TO COMMERCIAL ENTITIES.
Expenses $645,530 · Revenue $801,442
-
POLARIS MANUFACTURING EXTENSION PARTNERSHIP PROVIDED SERVICES ON BEHALF OF THE STATE OF RHODE ISLAND TO IMPROVE THE PRODUCTIVITY AND RESILIENCE OF THE STATES MANUFACTURERS AND TO SUPPORT STATE INCENTIVES TO GROW THE NUMBER OF WORKERS WITH THE SKILLS NEEDED TO SUSTAIN THE STATES MANUFACTURERS.
Expenses $4,875,034 · Revenue $632,610
-
401 TECH BRIDGE SERVES AS A SUPER-CONNECTOR FOR COMPANIES THAT ARE DEVELOPING LEADING-EDGE ADVANCED MATERIALS, TECHNOLOGIES, AND PRODUCTS, ENABLING BUSINESS GROWTH, AND SPEEDING THE PROCESS OF FUNDING COMMERCIAL AND DUAL-USE APPLICATIONS FOR TECHNOLOGIES.
Expenses $2,730,283 · Revenue $43,610
-
THE URI VENTURES DIVISION/PROGRAM FACILITATED RESEARCH COLLABORATIONS BETWEEN UNIVERSITY OF RHODE ISLAND (URI) FACULTY MEMBERS AND INDUSTRY SPONSORS. IT HOSTED ENTERPRENEURSHIP EDUCATIONAL PROGRAMS TO URI STUDENTS.
Expenses $1,865,051 · Revenue $6,298
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Christian CowanCHRISTIAN COWAN
EXECUTIVE DIRECTOR
- Total calculated
- $257,239
- From this org
- $207,000
- From related orgs
- $0
- Other
- $50,239
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $207,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $50,239
- Filer's total
- $257,239
-
Matthew WatsonMATTHEW WATSON
POLARIS CENTER DIRECTOR
- Total calculated
- $227,136
- From this org
- $174,250
- From related orgs
- $0
- Other
- $52,886
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $174,250
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $52,886
- Filer's total
- $227,136
-
Erik BrineERIK BRINE
DIRECTOR FOR DEFENSE INTERACTIONS
- Total calculated
- $210,308
- From this org
- $190,550
- From related orgs
- $0
- Other
- $19,758
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $190,550
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $19,758
- Filer's total
- $210,308
-
Lindsey BrickleLINDSEY BRICKLE
DIRECTOR OF WORKFORCE & COMMUNITY ENGAGEMENT
- Total calculated
- $160,943
- From this org
- $123,600
- From related orgs
- $0
- Other
- $37,343
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $123,600
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $37,343
- Filer's total
- $160,943
-
Peter RumseyPETER RUMSEY
CHIEF BUSINESS DEVELOPMENT OFFICER
- Total calculated
- $235,890
- From this org
- $190,550
- From related orgs
- $0
- Other
- $45,340
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $190,550
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $45,340
- Filer's total
- $235,890
-
Christine SmithCHRISTINE SMITH
DIRECTOR OF SPECIAL PROJECTS
- Total calculated
- $141,837
- From this org
- $128,750
- From related orgs
- $0
- Other
- $13,087
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $128,750
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $13,087
- Filer's total
- $141,837
-
Sarah ReggioSARAH REGGIO
DIRECTR OF OPERATIONS
- Total calculated
- $135,514
- From this org
- $123,600
- From related orgs
- $0
- Other
- $11,914
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $123,600
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $11,914
- Filer's total
- $135,514
-
Jaqueline N MazzaJAQUELINE N MAZZA
CHIEF FINANCIAL OFFICER
- Total calculated
- $205,660
- From this org
- $187,460
- From related orgs
- $0
- Other
- $18,200
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $187,460
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $18,200
- Filer's total
- $205,660
-
Melissa McCarthyMELISSA MCCARTHY
URIRF BOARD SECRETARY
- Total calculated
- $25,113
- From this org
- $25,113
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Taylor GreeneTAYLOR GREENE
SPECIAL PROGRAMS MANAGER
- Total calculated
- $120,878
- From this org
- $100,940
- From related orgs
- $0
- Other
- $19,938
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $100,940
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $19,938
- Filer's total
- $120,878
-
Bethany D JenkinsBETHANY D JENKINS
DIRECTOR, EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Marc ParlangeMARC PARLANGE
DIRECTOR, EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Abby BensonABBY BENSON
DIRECTOR, EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Megan Mercedes EchevarriaMEGAN MERCEDES ECHEVARRIA
DIRECTOR, EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Rele AbidaeRELE ABIDAE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Erin ReadERIN READ
DIRECTOR
- Total calculated
- $120,654
- From this org
- $100,831
- From related orgs
- $0
- Other
- $19,823
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $100,831
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $19,823
- Filer's total
- $120,654
-
Randy BrandenburgRANDY BRANDENBURG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Linda LarsenLINDA LARSEN
DIRECTOR
- Total calculated
- $122,001
- From this org
- $100,786
- From related orgs
- $0
- Other
- $21,215
- Hours/week
- 40
-
Amy GrzybowskiAMY GRZYBOWSKI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Natalie HoganNATALIE HOGAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Peter KaczmarekPETER KACZMAREK
DIRECTOR,VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Matthew M NeylandMATTHEW M NEYLAND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Paul J RobertiPAUL J ROBERTI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sean DalySEAN DALY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Theodore B HowellTHEODORE B HOWELL
COUNSEL
- 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
Itemized on Schedule J with no Part VII listing of the same name on this return:
-
Linda LarenLINDA LAREN
Schedule J breakdown
- Base
- $100,786
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $21,215
- Filer's total
- $122,001
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.
-
UNIVERSITY OF RHODE ISLAND
HIGHER EDUCATION · RI
-
FUNDING TECH PROJECTS · RI
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 November 2024
- IRS schema version
- 2023v6.0
- Source object
- 202531339349303163
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