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Nonprofiteer
← DELAWARE TECHNOLOGY PARK INC

Form 990 for tax year 2024

Filed by DELAWARE TECHNOLOGY PARK INC.

Totals

Total revenue
$7,987,789
Total expenses
$9,043,739
Contributions and grants received
$1,459,949
Grants paid
$0
Program service revenue
$6,527,840
Investment income
$0
Other revenue
$0
Total assets, end of year
$54,450,072
Total liabilities, end of year
$59,451,509
Net assets or fund balances, end of year
-$5,001,437
Program services expenses (Part IX)
$8,367,581
Management and general expenses
$676,158
Fundraising expenses
$0
Program service expenses (Part III)
$8,367,581

Program services were 92.5% 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)

    $1,209,949

  • 1f · All other contributions, gifts and grants

    $250,000

  • 2a · Program service revenue: Rental Income

    total $6,527,840 · related or exempt $6,527,840

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $75,000 · management and general $75,000

  • 11a · Fees: management

    total $159,008 · management and general $159,008

  • 11c · Fees: accounting

    total $193,901 · management and general $193,901

  • 11g · Fees: other

    total $1,087,558 · program services $1,040,253 · management and general $47,305

  • 13 · Office expenses

    total $14,615 · management and general $14,615

  • 14 · Information technology

    total $70,472 · program services $70,472

  • 16 · Occupancy

    total $3,609,633 · program services $3,609,633

  • 17 · Travel

    total $2,723 · program services $2,723

  • 20 · Interest

    total $1,747,042 · program services $1,747,042

  • 22 · Depreciation, depletion and amortization

    total $1,818,162 · program services $1,818,162

  • 23 · Insurance

    total $82,643 · program services $79,296 · management and general $3,347

  • 24a · Other expenses: Real Estate Taxes

    total $98,649 · management and general $98,649

  • 24b · Other expenses: Bad Debt Provision

    total $44,833 · management and general $44,833

  • 24c · Other expenses: Subscriptions and Publi

    total $24,710 · management and general $24,710

  • 24d · Other expenses: Miscellaneous Expenses

    total $7,384 · management and general $7,384

  • 24e · All other expenses

    total $7,406 · management and general $7,406

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,820,707 · end of year $4,181,093

  • 4 · Accounts receivable

    beginning of year $1,069,521 · end of year $819,785

  • 9 · Prepaid expenses and deferred charges

    beginning of year $173,651 · end of year $18,522

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

    $59,573,422

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

    $18,962,389

  • 10c · Land, buildings and equipment, net

    beginning of year $42,558,701 · end of year $40,611,033

  • 15 · Other assets

    beginning of year $9,108,383 · end of year $8,819,639

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,590,721 · end of year $1,287,040

  • 19 · Deferred revenue

    beginning of year $665,221 · end of year $765,163

  • 23 · Secured mortgages and notes payable

    beginning of year $43,670,713 · end of year $47,235,276

  • 25 · Other liabilities

    beginning of year $10,624,264 · end of year $10,164,030

  • 27 · Net assets without donor restrictions

    beginning of year -$3,819,956 · end of year -$5,001,437

Mission and programs · 2024

Mission

The mission of the Delaware Technology Park is to stimulate economic growth and create high-value jobs in the Mid-Atlantic region by providing affordable state-of-the-art facilities, access to necessary resources and connections to the region's industry, government and academic leaders.

Activities or mission (Part I)

Promotion of technology and management of state-of-the-art research facilities

  • Promotion of the commercialization of startup companies in the technology industry. This encompasses interactions with the state, university, and private industries. DTP opens the pathway to grants, existing patents within the University of Delaware and potential private sector business opportunities.

    Expenses $8,367,581 · Revenue $6,527,840

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Andrew M Lubin

    Chair

    Total calculated
    $75,000
    From this org
    $75,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Dennis Assanis PhD

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Fleming

    Director

    Total calculated
    $0
    Hours/week
    1

  • Brian A Pryor PhD

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Sheehan

    Director

    Total calculated
    $0
    Hours/week
    1

  • J Michael Bowman

    President & CEO

    Total calculated
    $75,000
    From this org
    $0
    From related orgs
    $75,000
    Other
    $0
    Hours/week
    40

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2024
Filed
9 March 2026
IRS schema version
2024v5.5
Source object
202620709349300012

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