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Nonprofiteer
← OHIO STATE INNOVATION FOUNDATION

Form 990 for tax year 2022

Filed by OHIO STATE INNOVATION FOUNDATION.

Totals

Total revenue
$15,253,821
Total expenses
$14,538,851
Contributions and grants received
$3,508,778
Grants paid
$0
Program service revenue
$11,745,043
Investment income
$0
Other revenue
$0
Total assets, end of year
$9,807,916
Total liabilities, end of year
$102,190
Net assets or fund balances, end of year
$9,705,726
Program services expenses (Part IX)
$14,538,851
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$14,538,851

Program services were 100.0% 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

    $3,508,778

  • 2a · Program service revenue: PATENT ROYALTY REVENUES

    total $9,952,015 · related or exempt $9,952,015

  • 2b · Program service revenue: REIMBURSEMENTS FROM LICENSEES

    total $1,793,028 · related or exempt $1,793,028

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $999,584 · program services $999,584

  • 11g · Fees: other

    total $381,747 · program services $381,747

  • 13 · Office expenses

    total $3,908 · program services $3,908

  • 21 · Payments to affiliates

    total $8,025,418 · program services $8,025,418

  • 24a · Other expenses: PATENT EXPENSES

    total $5,128,194 · program services $5,128,194

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $17,652,547 · end of year $8,667,853

  • 4 · Accounts receivable

    beginning of year $1,345,489 · end of year $1,140,063

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,007,280 · end of year $102,190

  • 27 · Net assets without donor restrictions

    beginning of year $8,990,756 · end of year $9,705,726

Mission and programs · 2022

Mission

OHIO STATE INNOVATION FOUNDATION ("OSIF") IS A NOT-FOR-PROFIT OHIO CORPORATION FORMED TO MANAGE INTELLECTUAL PROPERTY DEVELOPED AT OR CREATED BY THE OHIO STATE UNIVERSITY ("OSU") AND TO FACILITATE THE COMMERCIALIZATION OF SUCH INTELLECTUAL PROPERTY ("IP"). OSU IS THE SOLE MEMBER OF OSIF, AND A MAJORITY OF THE DIRECTORS ON THE OSIF BOARD OF DIRECTORS ARE REPRESENTATIVE OF OSU. OSIF HAS NO EMPLOYEES. THE OPERATIONS OF OSIF ARE CONDUCTED BY THE TECHNOLOGY LICENSING OFFICE OF THE OSU OFFICE OF INNOVATION AND ECONOMIC DEVELOPMENT, PURSUANT TO CONTRACT.

Activities or mission (Part I)

OHIO STATE INNOVATION FOUNDATION ("OSIF") IS A NOT-FOR-PROFIT OHIO CORPORATION FORMED TO MANAGE INTELLECTUAL PROPERTY DEVELOPED AT OR CREATED BY THE OHIO STATE UNIVERSITY ("OSU") AND TO FACILITATE THE COMMERCIALIZATION OF SUCH INTELLECTUAL PROPERTY ("IP"). OSU IS THE SOLE MEMBER OF OSIF, AND A MAJORITY OF THE DIRECTORS ON THE OSIF BOARD OF DIRECTORS ARE REPRESENTATIVES OF OSU. OSIF HAS NO EMPLOYEES. THE OPERATIONS OF THE OSIF ARE CONDUCTED BY THE TECHNOLOGY LICENSING OFFICE OF THE OSU OFFICE OF INNOVATION AND ECONOMIC DEVELOPMENT, PURSUANT TO CONTRACT.

  • MANAGED INTELLECTUAL PROPERTY PORTFOLIO OF THE OHIO STATE UNIVERSITY.

    Expenses $13,153,612

  • MANAGED LICENSES OF TECHNOLOGY DEVELOPED AT THE OHIO STATE UNIVERSITY.

    Expenses $1,385,239 · Revenue $11,745,043

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • R Scott Osborne

    PRESIDENT

    Total calculated
    $449,476
    From this org
    $0
    From related orgs
    $379,614
    Other
    $69,862
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $294,191 related
    Bonus
    $0 + $49,726 related
    Other
    $0 + $35,697 related
    Deferred
    $0 + $49,064 related
    Nontaxable benefits
    $0 + $20,798 related
    Filer's total
    $0 + $449,476 related

  • Michael Papadakis

    CHAIRMAN

    Total calculated
    $961,271
    From this org
    $0
    From related orgs
    $836,360
    Other
    $124,911
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $616,762 related
    Bonus
    $0 + $186,662 related
    Other
    $0 + $32,936 related
    Deferred
    $0 + $96,176 related
    Nontaxable benefits
    $0 + $28,735 related
    Filer's total
    $0 + $961,271 related

  • Tim Wright

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Jim Terranova

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Ray Shealy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Grace Wang

    DIRECTOR

    Total calculated
    $772,263
    From this org
    $0
    From related orgs
    $676,004
    Other
    $96,259
    Hours/week
    0.25 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $409,171 related
    Bonus
    $0 + $163,750 related
    Other
    $0 + $103,083 related
    Deferred
    $0 + $66,924 related
    Nontaxable benefits
    $0 + $29,335 related
    Filer's total
    $0 + $772,263 related

  • Falon Donohue

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Cheryl Turnbull

    VICE PRESIDENT

    Total calculated
    $278,482
    From this org
    $0
    From related orgs
    $227,450
    Other
    $51,032
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $176,063 related
    Bonus
    $0
    Other
    $0 + $51,387 related
    Deferred
    $0 + $32,624 related
    Nontaxable benefits
    $0 + $18,408 related
    Filer's total
    $0 + $278,482 related

  • David Mess

    SECRETARY

    Total calculated
    $240,169
    From this org
    $0
    From related orgs
    $184,410
    Other
    $55,759
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $139,837 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $39,573 related
    Deferred
    $0 + $26,262 related
    Nontaxable benefits
    $0 + $29,497 related
    Filer's total
    $0 + $240,169 related

  • Kevin Taylor

    VICE PRESIDENT

    Total calculated
    $405,790
    From this org
    $0
    From related orgs
    $337,145
    Other
    $68,645
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $263,405 related
    Bonus
    $0 + $31,212 related
    Other
    $0 + $42,528 related
    Deferred
    $0 + $37,999 related
    Nontaxable benefits
    $0 + $30,646 related
    Filer's total
    $0 + $405,790 related

  • Cash Mitchell

    TREASURER (EFF 10/22)

    Total calculated
    $77,000
    From this org
    $0
    From related orgs
    $62,962
    Other
    $14,038
    Hours/week
    4 + 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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SCARLET INNOVATIONS INC

    C · OTHER BUSINESS SUPPORT ACTIVITIES · OH · 100% owned · share of income $41,254 · share of assets $31,019

    Directly controlled by OSIF

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202421359349303022

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