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Nonprofiteer
← MARSHALL UNIVERSITY RESEARCH CORPORATION

Form 990 for tax year 2022

Filed by MARSHALL UNIVERSITY RESEARCH CORPORATION.

Totals

Total revenue
$61,567,325
Total expenses
$60,881,644
Contributions and grants received
$53,073,293
Grants paid
$1,514,164
Program service revenue
$0
Investment income
$2,939,809
Other revenue
$5,554,223
Total assets, end of year
$69,950,636
Total liabilities, end of year
$24,528,749
Net assets or fund balances, end of year
$45,421,887
Program services expenses (Part IX)
$57,260,055
Management and general expenses
$3,156,902
Fundraising expenses
$464,687
Program service expenses (Part III)
$57,260,055

Program services were 94.1% 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)

    $49,161,850

  • 1f · All other contributions, gifts and grants

    $3,911,443

  • 1g · Noncash contributions included above

    $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $2,929,517 · related or exempt $2,929,517 · 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

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $10,292

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $10,292

  • 7d · Net gain or loss

    total $10,292 · related or exempt $10,292 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

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

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 11d · All other revenue

    total $5,554,223 · related or exempt $5,554,223 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $5,554,223

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 $1,514,164 · program services $1,514,164

  • 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 $194,256 · program services $194,256 · 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 $25,498,742 · program services $23,762,386 · management and general $1,383,468 · fundraising $352,888

  • 8 · Pension plan contributions

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

  • 9 · Other employee benefits

    total $6,016,282 · program services $5,541,020 · management and general $377,006 · fundraising $98,256

  • 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 $486,798 · program services $439,885 · management and general $46,913 · fundraising $0

  • 11c · Fees: accounting

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

  • 11d · Fees: lobbying

    total $221,762 · program services $0 · management and general $221,762 · 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 $7,287,896 · program services $6,947,607 · management and general $340,289

  • 12 · Advertising and promotion

    total $363,529 · program services $363,249 · management and general $280 · fundraising $0

  • 13 · Office expenses

    total $699,078 · program services $573,606 · management and general $118,533 · fundraising $6,939

  • 14 · Information technology

    total $51,176 · program services $31,176 · management and general $20,000 · fundraising $0

  • 15 · Royalties

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

  • 16 · Occupancy

    total $631,197 · program services $631,197 · management and general $0 · fundraising $0

  • 17 · Travel

    total $1,556,012 · program services $1,513,518 · management and general $42,494 · fundraising $0

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

    total $419,193 · program services $405,905 · management and general $13,288 · fundraising $0

  • 20 · Interest

    total $26,426 · program services $26,426 · 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 $1,382,706 · program services $1,382,706 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $230,280 · program services $3,349 · management and general $226,931 · fundraising $0

  • 24a · Other expenses: Research/Program Supplies

    total $4,617,604 · program services $4,617,604 · management and general $0 · fundraising $0

  • 24b · Other expenses: Subaward Expenses

    total $5,868,204 · program services $5,868,204 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $3,816,339 · program services $3,443,797 · management and general $365,938 · fundraising $6,604

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $7,895,279 · end of year $5,803,493

  • 3 · Pledges and grants receivable

    beginning of year $17,746,495 · end of year $21,660,454

  • 4 · Accounts receivable

    beginning of year $55,025 · end of year $14,727

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $363,890 · end of year $625,308

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

    $34,781,911

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

    $23,054,800

  • 10c · Land, buildings and equipment, net

    beginning of year $10,694,137 · end of year $11,727,111

  • 12 · Investments: other securities

    beginning of year $29,769,954 · end of year $30,119,543

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,180,915 · end of year $7,396,829

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $15,024,806 · end of year $15,870,336

  • 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 $1,113,264 · end of year $965,773

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $469,589 · end of year $295,811

  • 29 · Capital stock, trust principal or current funds

    beginning of year $20,311,745 · end of year $19,707,836

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

    beginning of year $9,424,461 · end of year $10,714,051

  • 31 · Retained earnings, endowment or other funds

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

Mission and programs · 2022

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 $57,260,055 · Revenue $61,567,325

As filed on the 2022 return.

Listed in Part VII

  • Brad Smith

    Chair

    Total calculated
    $1,034,254
    From this org
    $0
    From related orgs
    $517,127
    Other
    $517,127
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $488,146 related
    Bonus
    $0
    Other
    $0 + $28,981 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $517,127 related

  • Avi Mukherjee

    Vice Chair

    Total calculated
    $643,676
    From this org
    $0
    From related orgs
    $321,838
    Other
    $321,838
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $297,832 related
    Bonus
    $0
    Other
    $0 + $24,006 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $321,838 related

  • David Dampier

    Board Member

    Total calculated
    $534,882
    From this org
    $0
    From related orgs
    $267,441
    Other
    $267,441
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,239 related
    Bonus
    $0 + $15,202 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $267,441 related

  • John Maher

    Board Member

    Total calculated
    $481,988
    From this org
    $0
    From related orgs
    $240,994
    Other
    $240,994
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $227,728 related
    Bonus
    $0
    Other
    $0 + $13,266 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $240,994 related

  • Robert Plymale

    Associate VP for Economic Dev

    Total calculated
    $409,262
    From this org
    $204,631
    From related orgs
    $0
    Other
    $204,631
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $182,890
    Bonus
    $0
    Other
    $21,741
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $204,631

  • Charlotte Weber

    Board Member

    Total calculated
    $388,514
    From this org
    $73,640
    From related orgs
    $120,617
    Other
    $194,257
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $107,906 + $64,662 related
    Bonus
    $0
    Other
    $12,711 + $8,978 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $120,617 + $73,640 related

  • Brandi Jacob-Jones

    Board Member

    Total calculated
    $388,512
    From this org
    $0
    From related orgs
    $194,256
    Other
    $194,256
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $176,036 related
    Bonus
    $0
    Other
    $0 + $22,286 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $198,322 related

  • Andrew Nichols

    Research Professor

    Total calculated
    $255,218
    From this org
    $127,609
    From related orgs
    $0
    Other
    $127,609
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $120,354
    Bonus
    $0
    Other
    $7,255
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $127,609

  • Toney Stroud

    Secretary

    Total calculated
    $234,542
    From this org
    $0
    From related orgs
    $117,271
    Other
    $117,271
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $110,787 related
    Bonus
    $0
    Other
    $0 + $6,485 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $117,272 related

  • Michael Castellani

    Board Member

    Total calculated
    $198,164
    From this org
    $0
    From related orgs
    $99,082
    Other
    $99,082
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $87,886 related
    Bonus
    $0
    Other
    $0 + $11,196 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $99,082 related

  • Matt Tidd

    Board Member

    Total calculated
    $59,568
    From this org
    $0
    From related orgs
    $29,784
    Other
    $29,784
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $26,685 related
    Bonus
    $0
    Other
    $0 + $3,098 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $29,783 related

  • Beth Hammers

    Board Member

    Total calculated
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0

  • Chris Plybon

    Board Member

    Total calculated
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0

  • Thomas L Craig

    Board Member

    Total calculated
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0

  • John Hess

    Board Member

    Total calculated
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $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
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349303605

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