What the amendment changed
Compared with the return it replaced , filed 15 May 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.
Those are the same on the two returns, so the amendment changed something else.
Totals
- Total revenue
- $10,283,256
- Total expenses
- $2,153,367
- Contributions and grants received
- $10,220,000
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $62,256
- Other revenue
- $1,000
- Total assets, end of year
- $18,408,832
- Total liabilities, end of year
- $18,553
- Net assets or fund balances, end of year
- $18,390,279
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $2,149,867
- Fundraising expenses
- $3,500
- Program service expenses (Part III)
- not reported
Program services were 0.0% 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.
-
1f · All other contributions, gifts and grants
$10,220,000
-
3 · Investment income
total $62,256 · excluded $62,256
-
11a · Other revenue: OTHER REVENUE
total $1,000 · related or exempt $1,000
-
11e · Other revenue, total
$1,000
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $630,079 · management and general $630,079
-
7 · Other salaries and wages
total $338,830 · management and general $338,830
-
8 · Pension plan contributions
total $8,813 · management and general $8,813
-
9 · Other employee benefits
total $20,537 · management and general $20,537
-
10 · Payroll taxes
total $52,731 · management and general $52,731
-
11a · Fees: management
total $71,500 · management and general $71,500
-
11b · Fees: legal
total $94,188 · management and general $94,188
-
11c · Fees: accounting
total $8,520 · management and general $8,520
-
11d · Fees: lobbying
total $227,268 · management and general $227,268
-
11e · Fees: professional fundraising services
total $3,500 · fundraising $3,500
-
11g · Fees: other
total $342,169 · management and general $342,169
-
12 · Advertising and promotion
total $103,060 · management and general $103,060
-
13 · Office expenses
total $87,973 · management and general $87,973
-
14 · Information technology
total $70,444 · management and general $70,444
-
16 · Occupancy
total $63,544 · management and general $63,544
-
17 · Travel
total $15,166 · management and general $15,166
-
23 · Insurance
total $15,045 · management and general $15,045
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,795,471 · end of year $708,345
-
2 · Savings and temporary cash investments
end of year $3,060,220
-
3 · Pledges and grants receivable
beginning of year $5,962,921 · end of year $13,904,696
-
12 · Investments: other securities
beginning of year $0 · end of year $727,628
-
15 · Other assets
beginning of year $0 · end of year $7,943
-
17 · Accounts payable and accrued expenses
beginning of year $1,700 · end of year $18,553
-
27 · Net assets without donor restrictions
beginning of year $4,793,771 · end of year $4,485,583
-
28 · Net assets with donor restrictions
beginning of year $5,962,921 · end of year $13,904,696
Mission and programs · 2022
Mission
THE ORGANIZATION IS A PUBLIC-PRIVATE PARTNERSHIP TO ACCELERATE AND SCALE COMMERCIALIZED INNOVATION FROM NC'S UNIVERSITIES, CREAT JOBS, AND IMPROVE ECONOMIC OPPORTUNITIES IN ALL 100 COUNTIES OF NORTH CAROLINA.
Activities or mission (Part I)
THE ORGANIZATION IS A PUBLIC-PRIVATE PARTNERSHIP TO ACCELERATE AND SCALE COMMERCIALIZED INNOVATION FROM NC'S UNIVERSITIES, CREATE JOBS, AND IMPROVE ECONOMIC OPPORTUNITIES IN ALL 100 COUNTIES OF NORTH CAROLINA.
-
IN 2023, NCINNOVATION SUPPORTED STATEWIDE POLICY DEVELOPMENT; CREATED FOUR REGIONAL NETWORKS VIA THE ESTABLISHMENT OF HUBS AT FOUR NC RESEARCH UNIVERSITIES; AND CONTINUED BUILDING THE TEAM, PROCESSES, AND INFRASTRUCTURE REQUIRED TO EXECUTE ITS MISSION.
Revenue $1,000
As filed on the 2022 return.
Listed in Part VII
-
Kelly KingKELLY KING
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Kirk BradleyKIRK BRADLEY
BOARD VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Kelli BrownDR KELLI BROWN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kelly FullerKELLY FULLER
BOARD MEMBER
- Total calculated
- $180,197
- From this org
- $180,197
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- $0
- Bonus
- $0
- Other
- $180,197
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $180,197
-
Sharon Gaber PhDSHARON GABER PHD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Peter HansPETER HANS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Stan KellySTAN KELLY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Harold Martin Sr PhDHAROLD MARTIN SR PHD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Ven PooleVEN POOLE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Philip RogersDR PHILIP ROGERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Lonnie C Poole III 32523-63023LONNIE C POOLE III 32523-63023
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Bob Ingram 7122-32423BOB INGRAM 7122-32423
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Bennet WatersBENNET WATERS
EX OFFICIO PRESIDENT & CEO
- Total calculated
- $300,000
- From this org
- $300,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $300,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $300,000
-
Michelle BolasMICHELLE BOLAS
EXECUTIVE VICE PRESIDENT
- Total calculated
- $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. 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
- 2 · Substantiation required before reimbursing expenses
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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 23 April 2025
- IRS schema version
- 2022v5.0
- Source object
- 202511139349300646
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