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Nonprofiteer
← K-STATE OLATHE INNOVATION CAMPUS INC

Form 990 for tax year 2022

Filed by K-STATE OLATHE INNOVATION CAMPUS INC.

Totals

Total revenue
$10,759,280
Total expenses
$7,588,600
Contributions and grants received
$0
Grants paid
$4,067
Program service revenue
$10,365,398
Investment income
$115,561
Other revenue
$278,321
Total assets, end of year
$45,992,980
Total liabilities, end of year
$23,656,034
Net assets or fund balances, end of year
$22,336,946
Program services expenses (Part IX)
$3,494,374
Management and general expenses
$4,094,226
Fundraising expenses
$0
Program service expenses (Part III)
$3,494,374

Program services were 46.0% 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.

  • 2a · Program service revenue: JCERT SALES TAX

    total $8,969,634 · related or exempt $8,969,634

  • 2b · Program service revenue: SENSORY INCOME

    total $937,185 · related or exempt $937,185

  • 2c · Program service revenue: WORKSHOP INCOME

    total $383,626 · related or exempt $383,626

  • 2d · Program service revenue: OTHER INCOME

    total $46,571 · related or exempt $46,571

  • 2e · Program service revenue: CATERING

    total $28,382 · unrelated business $28,382

  • 3 · Investment income

    total $115,561 · excluded $115,561

  • 6a · Gross rents

    real property $358,434

  • 6b · Less rental expenses

    real property $80,113

  • 6c · Rental income or loss

    real property $278,321

  • 6d · Net rental income or loss

    total $278,321 · related or exempt $173,475 · unrelated business $104,846

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,067 · program services $4,067

  • 7 · Other salaries and wages

    total $3,475,306 · program services $1,976,997 · management and general $1,498,309

  • 11b · Fees: legal

    total $111,685 · program services $111,685

  • 11c · Fees: accounting

    total $112,478 · management and general $112,478

  • 11g · Fees: other

    total $283,260 · program services $283,260

  • 12 · Advertising and promotion

    total $349,630 · program services $349,630

  • 13 · Office expenses

    total $33,459 · management and general $33,459

  • 14 · Information technology

    total $122,568 · program services $3,881 · management and general $118,687

  • 16 · Occupancy

    total $1,003,917 · program services $290,439 · management and general $713,478

  • 17 · Travel

    total $38,301 · program services $11,210 · management and general $27,091

  • 19 · Conferences, conventions and meetings

    total $20,084 · program services $10,322 · management and general $9,762

  • 20 · Interest

    total $646,107 · program services $24,173 · management and general $621,934

  • 22 · Depreciation, depletion and amortization

    total $831,339 · management and general $831,339

  • 23 · Insurance

    total $37,993 · management and general $37,993

  • 24a · Other expenses: EVENT MANAGEMENT

    total $202,140 · program services $202,140

  • 24b · Other expenses: ACADEMIC SUPPORT

    total $110,359 · program services $110,359

  • 24c · Other expenses: MISC

    total $62,958 · program services $50,788 · management and general $12,170

  • 24d · Other expenses: SUPPLIES & EQUIPMENT

    total $56,240 · program services $20,618 · management and general $35,622

  • 24e · All other expenses

    total $86,709 · program services $44,805 · management and general $41,904

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,911,893 · end of year $9,056,032

  • 2 · Savings and temporary cash investments

    beginning of year $233,140 · end of year $233,012

  • 4 · Accounts receivable

    beginning of year $583,717 · end of year $752,085

  • 9 · Prepaid expenses and deferred charges

    beginning of year $28,951 · end of year $36,429

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

    $36,440,407

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

    $11,348,530

  • 10c · Land, buildings and equipment, net

    beginning of year $25,691,958 · end of year $25,091,877

  • 12 · Investments: other securities

    beginning of year $10,507,256 · end of year $10,731,275

  • 15 · Other assets

    beginning of year $92,270 · end of year $92,270

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,177,776 · end of year $870,971

  • 19 · Deferred revenue

    beginning of year $708,000

  • 20 · Tax-exempt bond liabilities

    beginning of year $23,728,606 · end of year $22,785,063

  • 27 · Net assets without donor restrictions

    beginning of year $6,680,603 · end of year $5,849,107

  • 28 · Net assets with donor restrictions

    beginning of year $12,754,200 · end of year $16,487,839

Mission and programs · 2022

Mission

THE ORGANIZATION IS A PLACE OF ACADEMIC RESEARCH AND FOCUSES PRIMARILY ON COMMERCIALLY VIABLE APPLIED RESEACH AND TECHNOLOGY DISCOVERY IN ANIMAL HEALTH, PLANT SCIENCE, FOOD SAFETY AND SECURITY, BIOENERGY, AND OTHER RELEVANT AREAS.

  • THE EXEMPT PURPOSE OF THIS ORGANIZATION IS TO DEVELOP, ADMINISTER AND OTHERWISE MANAGE THE EDUCATIONAL, RESEARCH AND SERVICE ACTIVITIES AT THE K-STATE OLATHE INNOVATION CAMPUS.

    Expenses $3,494,374 · Grants $4,067 · Revenue $10,365,398

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

Listed in Part VII

  • Richard Linton

    CHAIRPERSON/

    Total calculated
    $546,900
    From this org
    $0
    From related orgs
    $478,535
    Other
    $68,365
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $473,639 related
    Bonus
    not reported
    Other
    not reported + $4,896 related
    Deferred
    not reported + $18,138 related
    Nontaxable benefits
    not reported + $50,227 related
    Filer's total
    not reported + $546,900 related

  • Charles Tabor

    VICE-CHAIRPE

    Total calculated
    $445,275
    From this org
    $0
    From related orgs
    $411,320
    Other
    $33,955
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $409,694 related
    Bonus
    not reported + $1,626 related
    Other
    not reported
    Deferred
    not reported + $25,925 related
    Nontaxable benefits
    not reported + $8,030 related
    Filer's total
    not reported + $445,275 related

  • Ethan Erickson

    TREASURER/SE

    Total calculated
    $300,229
    From this org
    $0
    From related orgs
    $265,809
    Other
    $34,420
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $264,713 related
    Bonus
    not reported + $1,096 related
    Other
    not reported
    Deferred
    not reported + $22,594 related
    Nontaxable benefits
    not reported + $11,826 related
    Filer's total
    not reported + $300,229 related

  • David Rosowsky

    BOARD MEMBER

    Total calculated
    $402,797
    From this org
    $0
    From related orgs
    $365,047
    Other
    $37,750
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $365,047 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $25,925 related
    Nontaxable benefits
    not reported + $11,825 related
    Filer's total
    not reported + $402,797 related

  • Carig Harms

    BOARD MEMBER

    Total calculated
    $265,888
    From this org
    $0
    From related orgs
    $234,159
    Other
    $31,729
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $231,794 related
    Bonus
    not reported + $2,365 related
    Other
    not reported
    Deferred
    not reported + $19,904 related
    Nontaxable benefits
    not reported + $11,825 related
    Filer's total
    not reported + $265,888 related

  • Kent Glasscock

    BOARD MEMBER

    Total calculated
    $0

  • Clay Blair

    BOARD MEMBER

    Total calculated
    $0

  • David Warm

    BOARD MEMBER

    Total calculated
    $0

  • Jacqueline Spears

    INTERIM DEAN

    Total calculated
    $225,242
    From this org
    $0
    From related orgs
    $196,698
    Other
    $28,544
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    not reported + $196,698 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $16,719 related
    Nontaxable benefits
    not reported + $11,825 related
    Filer's total
    not reported + $225,242 related

  • Alison Paige Adams

    TEACHING ASS

    Total calculated
    $142,651
    From this org
    $0
    From related orgs
    $124,167
    Other
    $18,484
    Hours/week
    40

  • Deborah Kirchhoff

    EXEC DIR STR

    Total calculated
    $139,310
    From this org
    $0
    From related orgs
    $121,084
    Other
    $18,226
    Hours/week
    40

  • Benjamin Wolfe

    DEAN AND CEO

    Total calculated
    $136,776
    From this org
    $0
    From related orgs
    $120,000
    Other
    $16,776
    Hours/week
    40

  • Haley Larson

    TEACHING ASS

    Total calculated
    $130,287
    From this org
    $0
    From related orgs
    $112,720
    Other
    $17,567
    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. 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.

Provenance

Return type
form_990
Tax year
2022
Filed
5 December 2023
IRS schema version
2022v5.0
Source object
202303469349300205

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