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← MID ATLANTIC TECHNOLOGY RESEARCH AND INNOVATION CENTER INC

Form 990 for tax year 2022

Filed by MID ATLANTIC TECHNOLOGY RESEARCH AND INNOVATION CENTER INC.

Totals

Total revenue
$16,458,293
Total expenses
$15,824,334
Contributions and grants received
$1,193,157
Grants paid
$0
Program service revenue
$15,071,575
Investment income
$712
Other revenue
$192,849
Total assets, end of year
$8,158,345
Total liabilities, end of year
$3,902,171
Net assets or fund balances, end of year
$4,256,174
Program services expenses (Part IX)
$13,059,257
Management and general expenses
$2,765,077
Fundraising expenses
$0
Program service expenses (Part III)
$13,059,257

Program services were 82.5% 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)

    $1,152,523

  • 1f · All other contributions, gifts and grants

    $40,634

  • 1g · Noncash contributions included above

    $40,634

  • 2a · Program service revenue: CONTRACTS

    total $13,359,733 · related or exempt $13,359,733

  • 2b · Program service revenue: GOVERNMENT CONTRACTS

    total $1,711,842 · related or exempt $1,711,842

  • 3 · Investment income

    total $712 · excluded $712

  • 11a · Other revenue: INTERCOMPANY INCOME NOT SUBJECT 5

    total $191,915 · excluded $191,915

  • 11b · Other revenue: OTHER INCOME

    total $934 · excluded $934

  • 11e · Other revenue, total

    $192,849

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,760,450 · program services $343,520 · management and general $1,416,930

  • 7 · Other salaries and wages

    total $6,224,532 · program services $6,224,532

  • 8 · Pension plan contributions

    total $160,434 · program services $142,508 · management and general $17,926

  • 9 · Other employee benefits

    total $798,259 · program services $131,226 · management and general $667,033

  • 10 · Payroll taxes

    total $508,700 · program services $402,379 · management and general $106,321

  • 11b · Fees: legal

    total $110,771 · management and general $110,771

  • 11c · Fees: accounting

    total $120,729 · management and general $120,729

  • 11g · Fees: other

    total $525,261 · program services $525,261

  • 12 · Advertising and promotion

    total $21,844 · management and general $21,844

  • 13 · Office expenses

    total $161,879 · program services $153,861 · management and general $8,018

  • 14 · Information technology

    total $826,212 · program services $826,212

  • 16 · Occupancy

    total $1,268,028 · program services $1,089,416 · management and general $178,612

  • 17 · Travel

    total $95,277 · program services $64,335 · management and general $30,942

  • 19 · Conferences, conventions and meetings

    total $124,771 · program services $87,255 · management and general $37,516

  • 20 · Interest

    total $48,435 · management and general $48,435

  • 22 · Depreciation, depletion and amortization

    total $391,444 · program services $391,444

  • 23 · Insurance

    total $137,052 · program services $137,052

  • 24a · Other expenses: PROJECT SUPPLIES

    total $1,992,919 · program services $1,992,919

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $69,502 · program services $69,502

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $63,849 · program services $63,849

  • 24d · Other expenses: START UP COSTS

    total $30,537 · program services $30,537

  • 24e · All other expenses

    total $383,449 · program services $383,449

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $856,830 · end of year $1,197,127

  • 4 · Accounts receivable

    beginning of year $1,617,751 · end of year $2,016,653

  • 9 · Prepaid expenses and deferred charges

    beginning of year $354,755 · end of year $333,825

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

    $4,638,129

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

    $1,743,729

  • 10c · Land, buildings and equipment, net

    beginning of year $2,396,105 · end of year $2,894,400

  • 14 · Intangible assets

    beginning of year $62,337 · end of year $109,890

  • 15 · Other assets

    beginning of year $0 · end of year $1,606,450

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,292,390 · end of year $1,344,338

  • 19 · Deferred revenue

    beginning of year $85,000 · end of year $409,158

  • 23 · Secured mortgages and notes payable

    beginning of year $773,815 · end of year $1,111,486

  • 25 · Other liabilities

    beginning of year -$514,061 · end of year $1,037,189

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,650,634 · end of year $4,256,174

Mission and programs · 2022

Mission

TO PROVIDE THE GREATER KANAWHA VALLEY AREA OF WEST VIRGINIA CHARITABLE, SCIENTIFIC, AND EDUCATIONAL RESEARCH WHICH CAN BE UTILIZED TO FOSTER ECONOMIC DEVELOPMENT.

Activities or mission (Part I)

CHARITABLE, SCIENTIFIC, AND EDUCATIONAL RESEARCH AND ECONOMIC DEVELOPMENT

  • SERVICE OUTPUT: TO HELP REVITALIZE INDUSTRY WITHIN THE GEOGRAPHIC AREA. POPULATION SERVED: 100,000

    Expenses $13,059,257 · Revenue $15,071,575

As filed on the 2022 return.

Listed in Part VII

  • STEVEN B HEDRICK

    PRESIDENT/ CEO/CHAIRMAN PART YEAR

    Total calculated
    $676,489
    From this org
    $643,864
    From related orgs
    $0
    Other
    $32,625
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $643,864
    Bonus
    $0
    Other
    $0
    Deferred
    $12,060
    Nontaxable benefits
    $20,565
    Filer's total
    $676,489

  • JOHN MIESNER

    SECRETARY

    Total calculated
    $427,628
    From this org
    $399,159
    From related orgs
    $0
    Other
    $28,469
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $399,159
    Bonus
    $0
    Other
    $0
    Deferred
    $7,427
    Nontaxable benefits
    $21,042
    Filer's total
    $427,628

  • DONALD SUPCOE

    AUDIT CHAIR

    Total calculated
    $0
    Hours/week
    1

  • PAUL ARBOGAST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM B GOODE

    CHAIRMAN PART YEAR

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN E KAWASH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BOB WELTY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN M WOOMER

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DR PARVEZ WADIA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    24.5

  • JOHN H JARRETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JIM UNDERHILL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELTON BOND

    CAO/CFO

    Total calculated
    $311,483
    From this org
    $283,504
    From related orgs
    $0
    Other
    $27,979
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $283,504
    Bonus
    $0
    Other
    $0
    Deferred
    $6,937
    Nontaxable benefits
    $21,042
    Filer's total
    $311,483

  • JOHN P DEVER

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $344,850
    From this org
    $321,602
    From related orgs
    $0
    Other
    $23,248
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $321,602
    Bonus
    $0
    Other
    $0
    Deferred
    $8,108
    Nontaxable benefits
    $15,140
    Filer's total
    $344,850

  • BERNARD D DOMBEK

    KEY EMPLOYEE

    Total calculated
    $206,080
    From this org
    $200,012
    From related orgs
    $0
    Other
    $6,068
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,012
    Bonus
    $0
    Other
    $0
    Deferred
    $5,368
    Nontaxable benefits
    $700
    Filer's total
    $206,080

  • MARK A DEHLIN

    KEY EMPLOYEE

    Total calculated
    $205,316
    From this org
    $178,764
    From related orgs
    $0
    Other
    $26,552
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,764
    Bonus
    $0
    Other
    $0
    Deferred
    $5,510
    Nontaxable benefits
    $21,042
    Filer's total
    $205,316

  • JEFFREY G HIPPLER

    KEY EMPLOYEE

    Total calculated
    $186,271
    From this org
    $165,871
    From related orgs
    $0
    Other
    $20,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,871
    Bonus
    $0
    Other
    $0
    Deferred
    $5,260
    Nontaxable benefits
    $15,140
    Filer's total
    $186,271

  • ROBERT E NUNLEY

    KEY EMPLOYEE

    Total calculated
    $194,362
    From this org
    $167,927
    From related orgs
    $0
    Other
    $26,435
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,927
    Bonus
    $0
    Other
    $0
    Deferred
    $5,393
    Nontaxable benefits
    $21,042
    Filer's total
    $194,362

  • LLOYD M BURGESS

    HIGHLY COMPENSATED EMPLOYE

    Total calculated
    $161,660
    From this org
    $149,690
    From related orgs
    $0
    Other
    $11,970
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,690
    Bonus
    $0
    Other
    $0
    Deferred
    $4,629
    Nontaxable benefits
    $7,341
    Filer's total
    $161,660

  • MARK A NUNLEY

    HIGHLY COMPENSATED EMPLOYE

    Total calculated
    $172,085
    From this org
    $146,312
    From related orgs
    $0
    Other
    $25,773
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,312
    Bonus
    $0
    Other
    $0
    Deferred
    $4,731
    Nontaxable benefits
    $21,042
    Filer's total
    $172,085

  • RAYMOND ROOKS

    HIGHLY COMPENSATED EMPLOYE

    Total calculated
    $165,866
    From this org
    $140,247
    From related orgs
    $0
    Other
    $25,619
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,247
    Bonus
    $0
    Other
    $0
    Deferred
    $4,577
    Nontaxable benefits
    $21,042
    Filer's total
    $165,866

  • GLENN K GRAHAM

    HIGHLY COMPENSATED EMPLOYE

    Total calculated
    $157,738
    From this org
    $154,316
    From related orgs
    $0
    Other
    $3,422
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,316
    Bonus
    $0
    Other
    $0
    Deferred
    $2,590
    Nontaxable benefits
    $832
    Filer's total
    $157,738

  • JEREMY RADER

    HIGHLY COMPENSATED EMPLOYE

    Total calculated
    $161,636
    From this org
    $136,243
    From related orgs
    $0
    Other
    $25,393
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,243
    Bonus
    $0
    Other
    $0
    Deferred
    $4,351
    Nontaxable benefits
    $21,042
    Filer's total
    $161,636

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
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee
  • 6a · Pay contingent on this organization's net earnings

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
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 6
THE CEO'S CONTRACT CALLS FOR A BONUS TO BE PAID ON THE BUSINESS PERFORMANCE AND GOALS AS ESTABLISHED BY THE BOARD; WHICH INCLUDES GROWTH OF THE ORGANIZATION.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • APPALACHIA DEVELOPMENT GROUP LLC

    HOLDS RIGHTS AND INTELLECTUAL PROPERTY FOR TWO PROJECTS · WV · income $200,806 · assets $19,488

    Directly controlled by MID ATLANTIC TECHNOLOGY RESEARCH & INNOVATION CENTER

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MID ATLANTIC HOLDINGS INC

    C · LABORATORY/CHEMICAL TESTING · WV · 97% owned · share of income $41 · share of assets $356,568

    Directly controlled by MID ATLANTIC TECHNOLOGY RESEARCH & INNOVATION CENTER

  • MID-ATLANTIC TECHNICAL ENGINEERING INC

    C · CONSULTING ENGINEERING · WV · 100% owned · share of income $255 · share of assets $239,758 · controlled entity

    Directly controlled by MID ATLANTIC TECHNOLOGY RESEARCH & INNOVATION CENTER

Provenance

Return type
form_990
Tax year
2022
Filed
12 May 2023
IRS schema version
2022v5.0
Source object
202311359349311426

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