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← MISSOURI CORPORATION FOR SCIENCE AND TECHNOLOGY

Form 990 for tax year 2022

Filed by MISSOURI CORPORATION FOR SCIENCE AND TECHNOLOGY.

Totals

Total revenue
$57,612,488
Total expenses
$19,605,682
Contributions and grants received
$50,219,323
Grants paid
$18,107,651
Program service revenue
$0
Investment income
$702,824
Other revenue
$6,690,341
Total assets, end of year
$113,462,871
Total liabilities, end of year
$14,501,626
Net assets or fund balances, end of year
$98,961,245
Program services expenses (Part IX)
$19,373,933
Management and general expenses
$231,749
Fundraising expenses
$0
Program service expenses (Part III)
$19,373,933

Program services were 98.8% 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)

    $50,219,323

  • 3 · Investment income

    total $702,824 · excluded $702,824

  • 11a · Other revenue: GAIN ON INVESTMENTS

    total $6,685,870 · related or exempt $6,685,870

  • 11b · Other revenue: PROGRAM DEOBLIGATIONS

    total $3,888 · related or exempt $3,888

  • 11c · Other revenue: MISCELLANEOUS INCOME

    total $583 · related or exempt $583

  • 11e · Other revenue, total

    $6,690,341

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,107,651 · program services $18,107,651

  • 5 · Compensation of officers, directors and key employees

    total $145,867 · program services $129,863 · management and general $16,004

  • 7 · Other salaries and wages

    total $361,445 · program services $287,318 · management and general $74,127

  • 10 · Payroll taxes

    total $36,113 · program services $29,206 · management and general $6,907

  • 11b · Fees: legal

    total $195,770 · program services $115,244 · management and general $80,526

  • 11c · Fees: accounting

    total $28,538 · program services $19,501 · management and general $9,037

  • 11g · Fees: other

    total $614,430 · program services $596,699 · management and general $17,731

  • 16 · Occupancy

    total $25,854 · program services $25,854

  • 17 · Travel

    total $17,878 · program services $17,578 · management and general $300

  • 19 · Conferences, conventions and meetings

    total $6,805 · program services $4,317 · management and general $2,488

  • 23 · Insurance

    total $17,819 · program services $859 · management and general $16,960

  • 24a · Other expenses: ADMINISTRATIVE EXPENSES

    total $37,785 · program services $35,468 · management and general $2,317

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $5,160 · program services $160 · management and general $5,000

  • 24c · Other expenses: TELECOMMUNICATIONS

    total $3,722 · program services $3,422 · management and general $300

  • 24d · Other expenses: PRINTING & REPRODUCTION

    total $520 · program services $468 · management and general $52

  • 24e · All other expenses

    total $325 · program services $325

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,919,058 · end of year $62,219,215

  • 2 · Savings and temporary cash investments

    end of year $10,214,432

  • 7 · Other notes and loans receivable

    beginning of year $5,256,359 · end of year $5,384,775

  • 11 · Investments: publicly traded securities

    beginning of year $7,375,414 · end of year $7,375,415

  • 13 · Investments: program-related

    beginning of year $29,772,280 · end of year $28,269,034

  • 25 · Other liabilities

    beginning of year $1,368,672 · end of year $14,501,626

  • 27 · Net assets without donor restrictions

    beginning of year $59,950,415 · end of year $31,490,006

  • 28 · Net assets with donor restrictions

    beginning of year $1,004,024 · end of year $67,471,239

Mission and programs · 2022

Mission

THE MISSION OF THE MTC IS TO PROVIDE LEADERSHIP AND MAKE STRATEGIC INVESTMENTS THAT HELP ENTREPRENEURS CREATE AND GROW TECHNOLOGY-BASED MISSOURI BUSINESSES.

Activities or mission (Part I)

MTC PROMOTES ENTREPRENEURSHIP AND FOSTERS THE GROWTH OF HIGH-TECH COMPANIES IN MISSOURI.

  • THE ADVANCED MANUFACTURING RESILIENCY GRANT PROGRAM PROVIDES GRANT-BASED FUNDING FOR THE CREATION OF INFRASTRUCTURE FOR INDUSTRIES THAT ARE FUNDAMENTAL TO THE NATIONAL SECURITY OF THE UNITED STATES WHERE THE MANUFACTURING OF ESSENTIAL PRODUCTS HAS BECOME RELIANT ON PRODUCTION OUTSIDE OF THE UNITED STATES. THE PROGRAM FOCUSES ON SUCH MANUFACTURING WHERE MISSOURI HAS AN INHERENT CONNECTION OR ADVANTAGE CREATING AN ENVIRONMENT FOR SIGNIFICANT GROWTH IN MISSOURI'S ECONOMY, INCLUDING BUT NOT LIMITED TO ADVANCED AND INNOVATIVE MANUFACTURING OF ACTIVE PHARMACEUTICAL INGREDIENTS AND SEMICONDUCTORS.

    Expenses $14,904,270 · Grants $14,850,000 · Revenue $15,000,000

  • THE MISSOURI TECHNOLOGY INVESTMENT PROGRAM FUNDS INNOVATION CENTERS AROUND THE STATE WHOSE PURPOSE IS TO PROVIDE VITAL SERVICES TO TECHNOLOGY STARTUPS OFFERING AN ENVIRONMENT TO FOSTER GROWTH TO A POINT WHERE THESE STARTUPS ARE MORE LIKELY TO RECEIVE VENTURE INVESTMENTS, CORPORATE AND GOVERNMENT CONTRACTS, AND EVENTUALLY ENTER THE MARKETPLACE. THIS FUNDING SOURCE ALSO SUPPORTS MTC'S CAPITAL FORMATION PROGRAM, THE IDEA FUNDS WHICH PROVIDE CO-INVESTMENT TO ELIGIBLE HIGH-TECH, EARLY STAGE AND STARTUP COMPANIES AND ITS MISSOURI BUILDING ENTREPRENEURIAL CAPACITY (MOBEC) PROGRAM WHICH PROVIDES GRANT FUNDING TO REGIONAL AND LOCAL NON-PROFIT ORGANIZATIONS AND HIGHER EDUCATION INSTITUTIONS TO SUPPORT INITIATIVES THAT ASSIST ENTREPRENEURS OR ENHANCES MISSOURI'S RESEARCH AND COMMERCIALIZATION CAPABILITIES.

    Expenses $3,803,416 · Grants $3,257,651 · Revenue $10,814,088

  • THE STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI 2.0) IS A PROGRAM ADMINISTERED BY THE U.S. DEPARTMENT OF TREASURY TO SUPPORT STATE PROGRAMS TO INCREASE THE AMOUNT OF PRIVATE CAPITAL MADE AVAILABLE TO SMALL BUSINESSES AND TO COVER REASONABLE ADMINISTRATIVE EXPENSES. MTC USES THE SSBCI PROGRAM FUNDS TO SUPPORT ITS INNOVATION, DEVELOPMENT, AND ENTREPRENEURIAL ADVANCEMENT (IDEA) FUND CO-INVESTMENT PROGRAM WHICH MAKES DIRECT INVESTMENTS INTO MISSOURI-BASED TECHNOLOGY STARTUPS FOR THE PURPOSE OF SUPPORTING TECHNOLOGY AND BUSINESS DEVELOPMENT.

    Expenses $112,248 · Revenue $26,869,323

  • THE LEWIS AND CLARK DISCOVERY INITIATIVE PROVIDES FUNDS TO THE MISSOURI TECHNOLOGY CORPORATION TO PROVIDE LOANS AND GRANTS TO HIGH-TECH SMALL BUSINESS LOCATED IN MISSOURI.THE STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI) IS A PROGRAM ADMINISTERED BY THE U.S. DEPARTMENT OF TREASURY TO SUPPORT STATE PROGRAMS TO INCREASE THE AMOUNT OF PRIVATE CAPITAL MADE AVAILABLE TO SMALL BUSINESSES AND TO COVER REASONABLE ADMINISTRATIVE EXPENSES. MTC USES THE SSBCI PROGRAM TO SUPPORT THE HIGH-TECH MISSOURI INNOVATION, DEVELOPMENT AND ENTREPRENEURIAL ADVANCEMENT (IDEA) SEED AND VENTURE CAPITAL FUNDS DESIGNED TO HELP HIGH-TECH MISSOURI ENTREPRENEURS TO ACCELERATE PRIVATE INVESTMENT IN MISSOURI TECHNOLOGY EARLY-STAGE COMPANIES AND TO CREATE NEW, HIGH-TECH JOBS IN THE STATE.THE NATIONAL GEOSPATIAL-INTELLIGENCE AGENCY (NGA) IS A UNIQUE COMBINATION OF INTELLIGENCE AGENCY AND COMBAT SUPPORT AGENCY. NGA SEEKS TO ADVANCE ITS TECHNOLOGY TRANSFER EFFORTS FOR THE COMMERCIALIZATION OF FEDERALLY DEVELOPED TECHNOLOGY. THROUGH A PARTNERSHIP WITH THE MISSOURI TECHNOLOGY CORPORATION (MTC), NGA WILL ENGAGE WITH PARTNERS IN THE GREATER ST. LOUIS REGION TO DRIVE INNOVATION IN GEOSPATIAL TECHNOLOGY THROUGH COLLABORATION AND A TRANSFER OF TECHNOLOGY AND SUBJECT MATTER EXPERTISE. THE MTC HAS BEEN TASKED WITH LAUNCHING AND COORDINATING COMPETITIVE PROGRAMS DESIGNED TO DELIVER INNOVATIVE AND COMMERCIALLY VIABLE SOLUTIONS THAT EITHER MATCH NGA'S OR THEIR CUSTOMER'S CURRENT AND FUTURE TECHNOLOGY NEEDS.

    Expenses $553,999 · Revenue $4,357,292

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

Listed in Part VII

  • Jim Baker

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2.5

  • John Scatizzi

    EXECUTIVE DIRECTOR

    Total calculated
    $148,321
    From this org
    $120,417
    From related orgs
    $0
    Other
    $27,904
    Hours/week
    40

  • Stephanie Regagnon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tom Spencer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Ajay K Jhamb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Allen Dillingham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Erwin Switzer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • Kathryn Allen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Oconnell III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Donn Rubin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dan Cobb

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2.5

  • Dedric Carter

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Denny Hoskins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Alex Riley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Michelle Hataway

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

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

  • BRUSH CREEK ENTERPRISE CENTER

    $0

    MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN KANSAS CITY, MISSOURI

  • CENTER FOR EMERGING TECHNOLOGIES

    $0

    MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN ST. LOUIS, MISSOURI

  • CITY OF KIRKSVILLE - INNOVATION CENTER

    $0

    MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN KIRKSVILLE, MISSOURI

  • JOPLIN AREA CHAMBER OF COMMERCE

    $0

    MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN JOPLIN, MISSOURI

  • JOPLIN AREA CHAMBER OF COMMERCE

    $0

    MTC GRANTED FUNDING TO EXPAND ENTREPRENEURIAL CAPACITY IN JOPLIN, MISSOURI

  • MISSOURI ENTERPRISE

    $0

    MTC GRANTED FUNDING FOR THE OPERATION OF MISSOURI'S MANUFACTURING EXTENSION PARTNERSHIP PROGRAM

  • MISSOURI INNOVATION CENTER

    $0

    MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN COLUMBIA, MISSOURI

  • MISSOURI STATE UNIVERSITY

    $0

    MTC GRANTED FUNDING TO DEVELOP SEMICONDUCTOR MANUFACTURING INFRASTRUCTURE WITHIN MISSOURI

  • MISSOURI STATE UNIVERSITY

    $0

    MTC GRANTED FUNDING TO EXPAND ENTREPRENEURIAL CAPACITY THROUGHOUT SOUTHERN MISSOURI

  • SPRINGFIELD INNOVATION CENTER

    $0

    MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN SPRINGFIELD, MISSOURI

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
27 October 2023
IRS schema version
2022v5.0
Source object
202323049349300107

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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