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← UNIVERSITY OF MEMPHIS RESEARCHFOUNDATION

Form 990 for tax year 2022

Filed by UNIVERSITY OF MEMPHIS RESEARCHFOUNDATION.

Totals

Total revenue
$2,093,460
Total expenses
$1,899,168
Contributions and grants received
$1,876,405
Grants paid
$0
Program service revenue
$146,826
Investment income
$45,718
Other revenue
$24,511
Total assets, end of year
$4,827,142
Total liabilities, end of year
$1,212,180
Net assets or fund balances, end of year
$3,614,962
Program services expenses (Part IX)
$1,841,093
Management and general expenses
$58,075
Fundraising expenses
$0
Program service expenses (Part III)
$1,841,093

Program services were 96.9% 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.

  • 1d · Related organizations

    $58,636

  • 1f · All other contributions, gifts and grants

    $1,817,769

  • 1g · Noncash contributions included above

    $58,636

  • 2a · Program service revenue: RESEARCH PARK

    total $146,826 · related or exempt $146,826

  • 3 · Investment income

    total $62,360 · excluded $62,360

  • 5 · Royalties

    total $24,511 · excluded $24,511

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

    securities $16,642

  • 7c · Gain or loss

    securities -$16,642

  • 7d · Net gain or loss

    total -$16,642 · excluded -$16,642

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $13,150 · management and general $13,150

  • 14 · Information technology

    total $22,462 · management and general $22,462

  • 15 · Royalties

    total $7,399 · management and general $7,399

  • 20 · Interest

    total $2,392 · management and general $2,392

  • 22 · Depreciation, depletion and amortization

    total $55,485 · program services $55,485

  • 23 · Insurance

    total $4,849 · management and general $4,849

  • 24a · Other expenses: RESEARCH PROJECTS

    total $1,785,608 · program services $1,785,608

  • 24b · Other expenses: RESEARCH PARK

    total $6,913 · management and general $6,913

  • 24c · Other expenses: OTHER EXPENSES

    total $910 · management and general $910

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $317,853 · end of year $540,161

  • 2 · Savings and temporary cash investments

    beginning of year $225,650 · end of year $719,064

  • 4 · Accounts receivable

    beginning of year $1,388 · end of year $295,047

  • 7 · Other notes and loans receivable

    beginning of year $225,000 · end of year $225,000

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

    $90,315

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $90,315

  • 12 · Investments: other securities

    beginning of year $1,687,220 · end of year $977,159

  • 14 · Intangible assets

    beginning of year $594,173 · end of year $587,469

  • 15 · Other assets

    beginning of year $1,245,783 · end of year $1,392,927

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,215 · end of year $9,410

  • 18 · Grants payable

    beginning of year $564,281 · end of year $329,671

  • 19 · Deferred revenue

    beginning of year $400,480 · end of year $816,877

  • 25 · Other liabilities

    beginning of year $0 · end of year $56,222

  • 27 · Net assets without donor restrictions

    beginning of year $3,101,657 · end of year $3,398,527

  • 28 · Net assets with donor restrictions

    beginning of year $216,434 · end of year $216,435

Mission and programs · 2022

Mission

TO ENCOURAGE, PROMOTE AND AID THE FULFILLMENT OF EDUCATION, RESEARCHAND SERVICE FUNCTIONS OF THE UNIVERSITY OF MEMPHIS (U OF M) AND TOENCOURAGE, PROMOTE AND AID THE TRANSFER OF TECHNOLOGY GENERATED IN THECOURSE OF RESEARCH BY U OF M FACULTY, STAFF AND STUDENTS.

Activities or mission (Part I)

TO ENCOURAGE, PROMOTE AND AID THE FULFILLMENT OF EDUCATION, RESEARCH AND SERVICE FUNCTIONS OF THE UNIVERSITY OF MEMPHIS (U OF M) AND TO ENCOURAGE, PROMOTE AND AID THE TRANSFER OF TECHNOLOGY GENERATED IN THECOURSE OF RESEARCH BY U OF M FACULTY, STAFF AND STUDENTS.

  • SPONSORED RESEARCH AND OTHER EDUCATIONAL/SERVICE ACTIVITIES DEVELOPED AND ADMINISTERED ON BEHALF OF FACULTY AND STAFF OF THE UNIVERSITY OF MEMPHIS TOTALED 14 ACTIVE PROGRAM SERVICE PROJECTS FUNDED BY 1 UNIQUE SPONSORS, AND THE ADMINISTRATION OF SEVERAL PATENTS.THE RESEARCH FOUNDATION PROVIDES THE FOLLOWING BENEFITS FOR THEUNIVERSITY:1. FACULTY AND STAFF MAY APPLY FOR GRANTS FROM SPONSORS WHOSE ELIGIBILITY CRITERIA REQUIRES A 501(C)(3) ORGANIZATION.2. FACULTY AND STAFF MAY CONTRACT WITH SPONSORS THAT CANNOT ACCEPT TN LAWS (REQUIRED FOR UNIVERSITY CONTRACTS).3. FOR NON-COST REIMBURSABLE PROGRAM SERVICES FUNDED BY MULTIPLE SPONSORS, THE RESEARCH FOUNDATION MAINTAINS THE ACCOUNTING BY SPONSOR WHICH REDUCES THE ADMINISTRATIVE BURDEN ON UNIVERSITY ACCOUNTING STAFF

    Expenses $1,841,093 · Revenue $146,826

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

Listed in Part VII

  • Bill Hardgrave

    CHAIRMAN

    Total calculated
    $636,700
    From this org
    $0
    From related orgs
    $636,700
    Other
    $0
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $487,500 related
    Bonus
    $0
    Other
    $0 + $149,200 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $636,700 related

  • Jasbir Dhaliwal

    EXECUTIVE DIRECTOR

    Total calculated
    $406,468
    From this org
    $0
    From related orgs
    $406,468
    Other
    $0
    Hours/week
    2 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $339,800 related
    Bonus
    $0 + $3,424 related
    Other
    $0 + $63,244 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $406,468 related

  • Raajkumar Kurapati

    DIRECTOR

    Total calculated
    $370,347
    From this org
    $0
    From related orgs
    $370,347
    Other
    $0
    Hours/week
    0.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $367,337 related
    Bonus
    $0 + $2,410 related
    Other
    $0 + $600 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $370,347 related

  • Richard Bloomer

    DIRECTOR

    Total calculated
    $268,835
    From this org
    $0
    From related orgs
    $268,835
    Other
    $0
    Hours/week
    0.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,180 related
    Bonus
    $0 + $3,055 related
    Other
    $0 + $600 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $268,835 related

  • Erika Dillard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 37.5 related

  • David Scully

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Jan Bouten

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lakita Cavin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Brad Phillips

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Scott Vogel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tim Whitehorn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tom Kadien

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Cody Behles

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Gary Emmert

    DIRECTOR

    Total calculated
    $206,895
    From this org
    $0
    From related orgs
    $206,895
    Other
    $0
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $155,904 related
    Bonus
    $0 + $2,791 related
    Other
    $0 + $48,200 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $206,895 related

  • Firouzeh Sabri

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Abby Parrill-Baker

    FORMER DIRECTOR

    Total calculated
    $301,423
    From this org
    $0
    From related orgs
    $301,423
    Other
    $0
    Hours/week
    0.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $274,728 related
    Bonus
    $0 + $3,760 related
    Other
    $0 + $22,935 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $301,423 related

  • Dr David Rudd

    FORMER CHAIRMAN

    Total calculated
    $631,350
    From this org
    $0
    From related orgs
    $631,350
    Other
    $0
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $530,250 related
    Bonus
    $0 + $3,604 related
    Other
    $0 + $97,496 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $631,350 related

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.

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.

Related corporations and trusts

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

  • UMRF VENTURES INC

    C · ECONOMIC DEVELOPMENT INITIATIVE FOR STUDENTS · TN · 100% owned · share of income $89,340 · share of assets $3,467,282 · controlled entity

    Directly controlled by THE UNIVERSITY OF MEMPHIS RESEARCH FDN

Provenance

Return type
form_990
Tax year
2022
Filed
13 December 2023
IRS schema version
2022v5.0
Source object
202333479349300833

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