Form 990 for tax year 2023
Filed by PINKNEY INNOVATION COMPLEX FOR SCIENCE & TECHNOLOGY AT MONTGOMERY.
Totals
- Total revenue
- $267,985
- Total expenses
- $427,051
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $63,847
- Investment income
- $204,138
- Other revenue
- $0
- Total assets, end of year
- $11,132,843
- Total liabilities, end of year
- $10,099,077
- Net assets or fund balances, end of year
- $1,033,766
- Program services expenses (Part IX)
- $113,940
- Management and general expenses
- $313,111
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $113,940
Program services were 26.7% 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.
-
2a · Program service revenue: PROGRAM RENTAL INCOME
total $63,847 · related or exempt $63,847
-
3 · Investment income
total $204,138 · excluded $204,138
Functional expenses
Part IX, the statement of functional expenses.
-
11a · Fees: management
total $23,636 · management and general $23,636
-
11g · Fees: other
total $113,940 · program services $113,940
-
13 · Office expenses
total $4,857 · management and general $4,857
-
24a · Other expenses: EXPENSE CLEARING ACCOUN
total $281,570 · management and general $281,570
-
24b · Other expenses: OPERATING LEASE PAYMENT
total $3,048 · management and general $3,048
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $63,412 · end of year $186,176
-
4 · Accounts receivable
end of year $4,414,579
-
10a · Land, buildings and equipment: cost or other basis
$384,186
-
10c · Land, buildings and equipment, net
beginning of year $384,186 · end of year $384,186
-
11 · Investments: publicly traded securities
beginning of year $5,869,614 · end of year $6,147,902
-
17 · Accounts payable and accrued expenses
beginning of year $79 · end of year $27,679
-
19 · Deferred revenue
beginning of year $5,558,201 · end of year $10,071,398
-
27 · Net assets without donor restrictions
beginning of year $758,932 · end of year $1,033,766
Mission and programs · 2023
Mission
SUPPORT THE MISSION OF THE COLLEGE AND PROMOTE THE ADVANCEMENT OF STUDENT EDUCATION BY FOSTERING AND EXPANDING EDUCATIONAL AND RESEARCH OPPORTUNITIES FOR FACULTY AND STUDENTS THROUGH ACADEMIC-INDUSTRY PARTNERSHIPS. (CONTINUED ON SCHEDULE O)ENHANCE AND ALIGN THE WORK OF THE COLLEGE WITH THOSE OF TECHNOLOGY BUSINESSES BY CO-LOCATING BUSINESSES ON CAMPUS IN AN INTEGRATED HUB THAT ACTIVELY PROMOTES INTERACTION BETWEEN FACULTY AND STUDENTS TO ACHIEVE THE COLLECTIVE GOAL OF EDUCATIONAL AND ECONOMIC SUCCESS.
Activities or mission (Part I)
TO SUPPORT THE MISSION OF MONTGOMERY COLLEGE AND TO PROMOTE THE ADVANCEMENT OF EDUCATION.
-
SUPPORT THE MISSION OF THE COLLEGE AND PROMOTE THE ADVANCEMENT OF STUDENT EDUCATION BY FOSTERING AND EXPANDING EDUCATIONAL AND RESEARCH OPPORTUNITIES FOR FACULTY AND STUDENTS THROUGH ACADEMIC-INDUSTRY PARTNERSHIPS. ENHANCE AND ALIGN THE WORK OF THE COLLEGE WITH THOSE OF TECHNOLOGY BUSINESSES BY CO-LOCATING BUSINESSES ON CAMPUS IN AN INTEGRATED HUB THAT ACTIVELY PROMOTES INTERACTION BETWEEN FACULTY AND STUDENTS TO ACHIEVE THE COLLECTIVE GOAL OF EDUCATIONAL AND ECONOMIC SUCCESS.
Expenses $113,940 · Revenue $63,847
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dr Stephen CainDR STEPHEN CAIN
BOARD MEMBER
- Total calculated
- $260,357
- From this org
- $0
- From related orgs
- $223,031
- Other
- $37,326
- Hours/week
- 2 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $223,031 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $16,464 related
- Nontaxable benefits
- $0 + $20,862 related
- Filer's total
- $0 + $260,357 related
-
Gail Folena-Wasserman PhDGAIL FOLENA-WASSERMAN PHD
CHAIR
- Total calculated
- $0
- Hours/week
- 4
-
Allen DeleonALLEN DELEON
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 4
-
Yum Yu Cheng EsqYUM YU CHENG ESQ
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Tony Spearman-LeachTONY SPEARMAN-LEACH
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Kelli BrooksKELLI BROOKS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
John Compton PhDJOHN COMPTON PHD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Misale EndriasMISALE ENDRIAS
STUDENT BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Danielle GabrishDANIELLE GABRISH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Angela GrahamANGELA GRAHAM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Steve GreenfieldSTEVE GREENFIELD
BOARD MEMBER
- Total calculated
- $207,017
- From this org
- $0
- From related orgs
- $175,971
- Other
- $31,046
- Hours/week
- 2 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $175,971 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $31,046 related
- Filer's total
- $0 + $207,017 related
-
Stephen KaufmanSTEPHEN KAUFMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Manish KothariMANISH KOTHARI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Margaret LatimerMARGARET LATIMER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Prashant PanchalPRASHANT PANCHAL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Deidre PriceDEIDRE PRICE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 40 related
-
Sofia PerezSOFIA PEREZ
STUDENT BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Kristine WarnerKRISTINE WARNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Doug WrennDOUG WRENN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Thomas LuginbillTHOMAS LUGINBILL
EXECUTIVE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2 + 40 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
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.
-
MONTGOMERY COLLEGE
N/A · COLLEGE · MD
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 6 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511299349303251
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