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← UNIVERSITY OF CENTRAL FLORIDA RESEARCH FOUNDATION INC

Form 990 for tax year 2023

Filed by UNIVERSITY OF CENTRAL FLORIDA RESEARCH FOUNDATION INC.

Totals

Total revenue
$27,517,288
Total expenses
$26,941,655
Contributions and grants received
$1,248,166
Grants paid
$0
Program service revenue
$21,292,492
Investment income
$814,109
Other revenue
$4,162,521
Total assets, end of year
$38,383,258
Total liabilities, end of year
$23,014,770
Net assets or fund balances, end of year
$15,368,488
Program services expenses (Part IX)
$25,952,922
Management and general expenses
$988,733
Fundraising expenses
$0
Program service expenses (Part III)
$25,952,922

Program services were 96.3% 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.

  • 1f · All other contributions, gifts and grants

    $1,248,166

  • 2a · Program service revenue: CONTRACT SERVICE REVEN

    total $20,288,401 · related or exempt $20,288,401

  • 2b · Program service revenue: RESEARCH INITIATIVE RE

    total $714,544 · related or exempt $714,544

  • 2c · Program service revenue: CONFERENCE REVENUE

    total $289,547 · related or exempt $289,547

  • 3 · Investment income

    total $814,109 · excluded $814,109

  • 5 · Royalties

    total $860,387 · related or exempt $860,387

  • 6a · Gross rents

    real property $356,628

  • 6b · Less rental expenses

    real property $330,094

  • 6c · Rental income or loss

    real property $26,534

  • 6d · Net rental income or loss

    total $26,534 · related or exempt $26,534

  • 11a · Other revenue: MANAGEMENT FEE & F&A

    total $2,587,751 · related or exempt $2,587,751

  • 11b · Other revenue: REIMBURSE OF PATENT MA

    total $687,849 · related or exempt $687,849

  • 11e · Other revenue, total

    $3,275,600

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $29,179 · management and general $29,179

  • 15 · Royalties

    total $753,382 · program services $753,382

  • 19 · Conferences, conventions and meetings

    total $901,852 · program services $901,852

  • 24a · Other expenses: CONTRACTS & GRANTS EXPE

    total $18,998,753 · program services $18,998,753

  • 24b · Other expenses: CONTRIBUTIONS EXPENSE

    total $2,001,830 · program services $2,001,830

  • 24c · Other expenses: REIMBURSED SALARIES

    total $1,982,567 · program services $1,982,567

  • 24d · Other expenses: RESEARCH INITIATIVES

    total $1,314,538 · program services $1,314,538

  • 24e · All other expenses

    total $959,554 · management and general $959,554

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $450,707 · end of year $420,747

  • 4 · Accounts receivable

    beginning of year $6,679,920 · end of year $5,578,620

  • 9 · Prepaid expenses and deferred charges

    beginning of year $143,110 · end of year $42,500

  • 12 · Investments: other securities

    beginning of year $31,518 · end of year $17,524

  • 15 · Other assets

    beginning of year $27,796,328 · end of year $32,323,867

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,883,092 · end of year $3,903,522

  • 19 · Deferred revenue

    beginning of year $17,411,642 · end of year $19,111,248

  • 27 · Net assets without donor restrictions

    beginning of year $11,003,183 · end of year $12,318,486

  • 28 · Net assets with donor restrictions

    beginning of year $3,803,666 · end of year $3,050,002

Mission and programs · 2023

Mission

TO SUPPORT THE RESEARCH AND SPONSORED PROGRAM ACTIVITIES OF FACULTY, STAFF, AND STUDENTS WHILE PROVIDING HIGH QUALITY ADMINISTRATIVE, FISCAL, AND SUPPORT SERVICES IN A USER-FRIENDLY AND EFFICIENT MANNER. ALSO TO CREATE AND DEVELOP OPPORTUNITIES TO INCREASE SPONSORED PROGRAM ACTIVITY, PROTECT UNIVERSITY-DEVELOPED INTELLECTUAL PROPERTY, AND MAXIMIZE THE UTILIZATION OF RESEARCH RESULTS.

  • THE DEVELOPMENT OF RESEARCH, THE PROVISION OF BUILDINGS FOR SUCH RESEARCH ACTIVITIES, AND TO PROVIDE A MEANS BY WHICH INVENTIONS AND COPYRIGHTABLE MATERIALS MAY BE DEVELOPED, PATENTED, APPLIED AND UTILIZED.

    Expenses $25,952,922 · Revenue $25,455,013

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mr Mark Crandall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Waymon Armstrong

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Terri Finkel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Benjamin Patz

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dr Alexander Cartwright

    DIRECTOR

    Total calculated
    $1,167,518
    From this org
    $0
    From related orgs
    $1,105,024
    Other
    $62,494
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $724,713 related
    Bonus
    $0 + $302,000 related
    Other
    $0 + $78,311 related
    Deferred
    $0 + $32,769 related
    Nontaxable benefits
    $0 + $29,725 related
    Filer's total
    $0 + $1,167,518 related

  • Ms Beverly Seay

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dr Winston Schoenfeld

    INTERIM CEO & PRESIDENT

    Total calculated
    $434,290
    From this org
    $0
    From related orgs
    $364,003
    Other
    $70,287
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $360,741 related
    Bonus
    $0 + $2,500 related
    Other
    $0 + $762 related
    Deferred
    $0 + $43,480 related
    Nontaxable benefits
    $0 + $26,807 related
    Filer's total
    $0 + $434,290 related

  • Mr Harold Mills

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Tiffany Altizer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Kim Smith

    SECRETARY, VP OPERATIONS

    Total calculated
    $234,422
    From this org
    $0
    From related orgs
    $188,735
    Other
    $45,687
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $153,183 related
    Bonus
    $0 + $35,500 related
    Other
    $0 + $52 related
    Deferred
    $0 + $20,249 related
    Nontaxable benefits
    $0 + $25,438 related
    Filer's total
    $0 + $234,422 related

  • Ms Megan Carrigan

    CFO, TREASURER

    Total calculated
    $173,770
    From this org
    $0
    From related orgs
    $129,507
    Other
    $44,263
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $126,111 related
    Bonus
    $0 + $2,500 related
    Other
    $0 + $896 related
    Deferred
    $0 + $13,258 related
    Nontaxable benefits
    $0 + $31,005 related
    Filer's total
    $0 + $173,770 related

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

The filer's explanations (Part III)

SCHEDULE J
THROUGH THE RELATED ORGANIZATION THAT EMPLOYS THEM, THE INDIVIDUALS REPORTED IN PART VII OF FORM 990 AND IN SCHEDULE J (FORM 990) GENERALLY PARTICIPATE IN THE FLORIDA RETIREMENT SYSTEM (FRS), A MULTI-EMPLOYER RETIREMENT SYSTEM CREATED UNDER CHAPTER 121 OF THE FLORIDA STATUTES AND ADMINISTERED BY THE FLORIDA DIVISION OF RETIREMENT. AS STATED ON THE WEBSITE OF FRS, IT IS FUNDED BY CONTRIBUTIONS PAID BY EMPLOYERS, BASED ON A PERCENTAGE OF THE EMPLOYEES' SALARIES. THE RATE OF CONTRIBUTIONS REQUIRED IS DETERMINED BY AN ACTUARIAL CONSULTING FIRM TO ASSURE COMPLIANCE WITH THE REQUIREMENTS OF THE CONSTITUTION OF THE STATE OF FLORIDA. THE INSTRUCTIONS FOR FORM 990 INDICATE THAT PART VII AND SCHEDULE J SHOULD INCLUDE A REASONABLE ESTIMATE OF THE INCREASE IN THE ACTUARIAL VALUE OF ANY QUALIFIED OR NONQUALIFIED RETIREMENT ACCRUALS UNDER A DEFINED BENEFIT PLAN. FRS HAS STATED THAT SUCH INFORMATION CURRENTLY IS NOT AVAILABLE FOR PARTICIPANTS IN ITS PLAN. THEREFORE, THE AMOUNTS REPORTED IN PART VII AND SCHEDULE J, AS APPROPRIATE, INCLUDE THE CONTRIBUTION PAID BY THE RELATED ORGANIZATION AS ITS CONTRIBUTION ON BEHALF OF THE NAMED INDIVIDUAL. THIS AMOUNT IS CONSIDERED THE BEST REASONABLE ESTIMATE OF INFORMATION REQUIRED ON THE FORM 990 AND RELATED SCHEDULES.

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 CENTRAL FLORIDA

    115 · EDUCATION · FL

  • ICAMR INC

    501(C)(6) · BUSINESS LEAGUE · FL

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.

  • UCF RESEARCH FOUNDATION REAL ESTATE LLC

    REAL ESTATE · FL · income $0 · assets $0

    Directly controlled by UNIVERSITY OF CENTRAL FLORIDA RESEARCH FOUNDATION INC

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202531339349303493

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