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Nonprofiteer
← MARSHALL UNIVERSITY RESEARCH CORPORATION

Form 990 for tax year 2023

Filed by MARSHALL UNIVERSITY RESEARCH CORPORATION.

Totals

Total revenue
$75,676,338
Total expenses
$66,279,427
Contributions and grants received
$66,254,333
Grants paid
$2,398,594
Program service revenue
$0
Investment income
$3,440,419
Other revenue
$5,981,586
Total assets, end of year
$75,248,125
Total liabilities, end of year
$20,429,327
Net assets or fund balances, end of year
$54,818,798
Program services expenses (Part IX)
$62,405,527
Management and general expenses
$3,277,062
Fundraising expenses
$596,838
Program service expenses (Part III)
$62,405,527

Program services were 94.2% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $60,567,962

  • 1f · All other contributions, gifts and grants

    $5,686,371

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $3,440,419 · related or exempt $3,440,419 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11d · All other revenue

    total $5,981,586 · related or exempt $5,981,586 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $5,981,586

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $2,398,594 · program services $2,398,594

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $29,717,850 · program services $26,670,491 · management and general $2,592,957 · fundraising $454,402

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $6,958,093 · program services $6,187,321 · management and general $641,672 · fundraising $129,100

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $344,677 · program services $305,412 · management and general $39,265 · fundraising $0

  • 11c · Fees: accounting

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $218,169 · program services $0 · management and general $218,169 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $5,322,799 · program services $4,842,077 · management and general $480,722 · fundraising $0

  • 12 · Advertising and promotion

    total $329,272 · program services $315,769 · management and general $13,503 · fundraising $0

  • 13 · Office expenses

    total $617,640 · program services $523,665 · management and general $92,900 · fundraising $1,075

  • 14 · Information technology

    total $32,011 · program services $31,386 · management and general $625 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $220,799 · program services $276,996 · management and general -$56,197 · fundraising $0

  • 17 · Travel

    total $1,695,520 · program services $1,631,798 · management and general $63,407 · fundraising $315

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $549,022 · program services $485,081 · management and general $62,081 · fundraising $1,860

  • 20 · Interest

    total $17,826 · program services $17,826 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $2,019,243 · program services $2,019,243 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $194,374 · program services $124,366 · management and general $70,008

  • 24a · Other expenses: Research / Program Supplies

    total $3,976,169 · program services $3,800,356 · management and general $175,813 · fundraising $0

  • 24b · Other expenses: Subaward Expenses

    total $6,437,511 · program services $6,043,544 · management and general $393,967 · fundraising $0

  • 24e · All other expenses

    total $5,229,858 · program services $6,731,602 · management and general -$1,511,830 · fundraising $10,086

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $5,803,493 · end of year $15,740,970

  • 3 · Pledges and grants receivable

    beginning of year $21,660,454 · end of year $22,529,610

  • 4 · Accounts receivable

    beginning of year $14,727 · end of year $218,252

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $625,308 · end of year $451,645

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

    $39,451,571

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

    $24,153,204

  • 10c · Land, buildings and equipment, net

    beginning of year $11,727,111 · end of year $15,298,367

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $30,119,543 · end of year $21,009,281

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,396,829 · end of year $6,620,530

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $15,870,336 · end of year $12,694,827

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $965,773 · end of year $750,159

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $295,811 · end of year $363,811

  • 29 · Capital stock, trust principal or current funds

    beginning of year $19,707,836 · end of year $25,435,582

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $10,714,051 · end of year $14,383,216

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,000,000 · end of year $15,000,000

Mission and programs · 2023

Mission

Charitable education and scientific research

  • Marshall University Research Corporation operates for charitable education and scientific purposes to foster, support, and participate in research and economic development activities in the furtherance of the educational objectives and mission of Marshall University.

    Expenses $62,405,527 · Grants $2,398,594 · Revenue $75,676,338

As filed on the 2023 return.

Listed in Part VII

  • Brad Smith

    Chair

    Total calculated
    $514,474
    From this org
    $0
    From related orgs
    $481,378
    Other
    $33,096
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $481,378 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $33,096 related
    Filer's total
    $0 + $514,474 related

  • Avi Mukherjee

    Vice Chair

    Total calculated
    $318,120
    From this org
    $0
    From related orgs
    $296,363
    Other
    $21,757
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $296,363 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $21,757 related
    Filer's total
    $0 + $318,120 related

  • Matt Tidd

    Board Member

    Total calculated
    $264,006
    From this org
    $0
    From related orgs
    $239,649
    Other
    $24,357
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,649 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $24,357 related
    Filer's total
    $0 + $264,006 related

  • David Dampier

    Board Member

    Total calculated
    $243,748
    From this org
    $0
    From related orgs
    $229,913
    Other
    $13,835
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,913 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $13,835 related
    Filer's total
    $0 + $243,748 related

  • Toney Stroud

    Secretary

    Total calculated
    $240,516
    From this org
    $0
    From related orgs
    $223,965
    Other
    $16,551
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $223,965 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $16,551 related
    Filer's total
    $0 + $240,516 related

  • John Maher

    Board Member

    Total calculated
    $230,919
    From this org
    $0
    From related orgs
    $218,126
    Other
    $12,793
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $218,126 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $12,793 related
    Filer's total
    $0 + $230,919 related

  • Robert Plymale

    Associate VP for Economic Dev

    Total calculated
    $200,679
    From this org
    $178,050
    From related orgs
    $0
    Other
    $22,629
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $178,050
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,629
    Filer's total
    $200,679

  • Brandi Jacob-Jones

    Board Member

    Total calculated
    $193,860
    From this org
    $0
    From related orgs
    $170,238
    Other
    $23,622
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $170,238 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $23,622 related
    Filer's total
    $0 + $193,860 related

  • Charlotte Weber

    Board Member

    Total calculated
    $193,228
    From this org
    $0
    From related orgs
    $169,176
    Other
    $24,052
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $169,176 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $24,052 related
    Filer's total
    $0 + $193,228 related

  • David Gozal

    Board Member

    Total calculated
    $156,177
    From this org
    $0
    From related orgs
    $141,298
    Other
    $14,879
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $141,298 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $14,879 related
    Filer's total
    $0 + $156,177 related

  • Uma Sundaram

    Board Member

    Total calculated
    $141,057
    From this org
    $0
    From related orgs
    $133,025
    Other
    $8,032
    Hours/week
    0 + 37.5 related

  • Wesley Stites

    Board Member

    Total calculated
    $108,894
    From this org
    $0
    From related orgs
    $96,854
    Other
    $12,040
    Hours/week
    0 + 37.5 related

  • Michael Castellani

    Board Member

    Total calculated
    $97,527
    From this org
    $0
    From related orgs
    $85,652
    Other
    $11,875
    Hours/week
    0 + 37.5 related

  • Nadja Spitzer

    Board Member

    Total calculated
    $97,161
    From this org
    $0
    From related orgs
    $85,406
    Other
    $11,755
    Hours/week
    0 + 37.5 related

  • Brandon Dennison

    Board Member

    Total calculated
    $83,132
    From this org
    $0
    From related orgs
    $74,527
    Other
    $8,605
    Hours/week
    0 + 37.5 related

  • Beth Hammers

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Chris Plybon

    Board Member

    Total calculated
    $0
    Hours/week
    0

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

  • 3 · Written employment contract

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.

  • Marshall University

    115 · Higher Education · WV

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202521349349307987

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