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Nonprofiteer
← IN-Q-TEL INC

Form 990 for tax year 2022

Filed by IN-Q-TEL INC.

Totals

Total revenue
$184,119,866
Total expenses
$117,541,783
Contributions and grants received
$124,324,509
Grants paid
$2,753,424
Program service revenue
$49,550,698
Investment income
$9,987,386
Other revenue
$257,273
Total assets, end of year
$1,028,036,177
Total liabilities, end of year
$97,189,192
Net assets or fund balances, end of year
$930,846,985
Program services expenses (Part IX)
$92,015,764
Management and general expenses
$25,526,019
Fundraising expenses
$0
Program service expenses (Part III)
$92,015,764

Program services were 78.3% 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)

    $118,081,203

  • 1f · All other contributions, gifts and grants

    $6,243,306

  • 2a · Program service revenue: TECH INVEST - NET GAIN

    total $48,022,469 · related or exempt $48,022,469

  • 2b · Program service revenue: TECH INVEST - INT/DIV

    total $1,387,525 · related or exempt $1,387,525

  • 2c · Program service revenue: CEO SUMMIT REGIS FEES

    total $140,704 · related or exempt $140,704

  • 3 · Investment income

    total $9,987,386 · excluded $9,987,386

  • 11a · Other revenue: I/C REV-PAYROLL SVC

    total $201,626 · related or exempt $201,626

  • 11b · Other revenue: I/C REV-SVC LOAN INT

    total $55,647 · related or exempt $55,647

  • 11e · Other revenue, total

    $257,273

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,753,424 · program services $2,753,424

  • 5 · Compensation of officers, directors and key employees

    total $12,190,818 · program services $5,789,999 · management and general $6,400,819

  • 7 · Other salaries and wages

    total $37,368,128 · program services $29,886,488 · management and general $7,481,640

  • 9 · Other employee benefits

    total $6,232,384 · program services $4,247,150 · management and general $1,985,234

  • 10 · Payroll taxes

    total $2,467,699 · program services $1,747,446 · management and general $720,253

  • 11b · Fees: legal

    total $1,626,468 · program services $939,161 · management and general $687,307

  • 11c · Fees: accounting

    total $822,341 · program services $250,761 · management and general $571,580

  • 11g · Fees: other

    total $13,134,279 · program services $11,927,606 · management and general $1,206,673

  • 12 · Advertising and promotion

    total $117,749 · program services $68,449 · management and general $49,300

  • 13 · Office expenses

    total $1,989,457 · program services $927,591 · management and general $1,061,866

  • 14 · Information technology

    total $3,116,181 · program services $2,566,238 · management and general $549,943

  • 16 · Occupancy

    total $6,272,021 · program services $4,374,162 · management and general $1,897,859

  • 17 · Travel

    total $2,683,194 · program services $1,989,162 · management and general $694,032

  • 19 · Conferences, conventions and meetings

    total $2,294,218 · program services $2,272,518 · management and general $21,700

  • 22 · Depreciation, depletion and amortization

    total $1,231,241 · program services $852,374 · management and general $378,867

  • 23 · Insurance

    total $474,201 · management and general $474,201

  • 24a · Other expenses: WORK PROGRAM EXPENSE

    total $20,599,902 · program services $20,599,902

  • 24e · All other expenses

    total $2,168,078 · program services $823,333 · management and general $1,344,745

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $51,572,671 · end of year $17,888,324

  • 4 · Accounts receivable

    beginning of year $30,934,364 · end of year $43,494,134

  • 7 · Other notes and loans receivable

    beginning of year $1,536,272 · end of year $1,354,599

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,689,679 · end of year $2,857,522

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

    $40,165,502

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

    $20,516,050

  • 10c · Land, buildings and equipment, net

    beginning of year $2,386,189 · end of year $19,649,452

  • 11 · Investments: publicly traded securities

    beginning of year $380,086,392 · end of year $431,034,899

  • 13 · Investments: program-related

    beginning of year $542,001,211 · end of year $471,897,819

  • 15 · Other assets

    beginning of year $11,329,002 · end of year $39,859,428

  • 17 · Accounts payable and accrued expenses

    beginning of year $48,453,352 · end of year $56,837,195

  • 19 · Deferred revenue

    end of year $61,126

  • 25 · Other liabilities

    beginning of year $10,071,481 · end of year $40,290,871

  • 27 · Net assets without donor restrictions

    beginning of year $965,010,947 · end of year $930,846,985

Mission and programs · 2022

Mission

IQT SERVES AND POWERS THE U.S. NATIONAL SECURITY AND ITS ALLIES THROUGH CUTTING-EDGE TECHNOLOGY, STRATEGIC INVESTMENTS, EXPLORATION AND APPLIED RESEARCH, AND ACCELERATION OF CAPABILITIES WITH THE GENERAL PUBLIC ULTIMATELY BENEFITTING IQT'S WORK.

Activities or mission (Part I)

IQT IDENTIFIES, EVALUATES, AND LEVERAGES EMERGING COMMERCIAL TECHNOLOGIES FOR (SEE SCHEDULE O)THE NATIONAL SECURITY COMMUNITY. IQT (IN-Q-TEL, INC.) ACHIEVES ITS MISSION BY DELIVERING BEST-IN-CLASS CAPABILITIES, INSIGHTS, AND OTHER SERVICES TO OUR PARTNERS THROUGH A UNIQUE GLOBAL INVESTMENT PLATFORM.

  • SEE SCHEDULE O

    Expenses $92,015,764 · Grants $2,753,424 · Revenue $49,807,971

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

Listed in Part VII

  • C DARBY

    CEO & TRUSTEE

    Total calculated
    $3,268,717
    From this org
    $2,202,392
    From related orgs
    $0
    Other
    $1,066,325
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $990,336
    Bonus
    $1,000,000
    Other
    $212,056
    Deferred
    $1,036,600
    Nontaxable benefits
    $29,725
    Filer's total
    $3,268,717

  • M CROW

    TRUSTEE, CHAIRMAN, COMMITTEE CHAIR

    Total calculated
    $42,500
    From this org
    $42,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • P BARRIS

    TRUSTEE & COMMITTEE CHAIR

    Total calculated
    $37,500
    From this org
    $37,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • A JONES

    TRUSTEE & COMMITTEE CHAIR

    Total calculated
    $37,500
    From this org
    $37,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • H COX

    TRUSTEE & COMMITTEE CHAIR

    Total calculated
    $37,500
    From this org
    $37,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • T SCHLEIN

    TRUSTEE

    Total calculated
    $35,000
    From this org
    $35,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • M MULLEN

    TRUSTEE

    Total calculated
    $35,000
    From this org
    $35,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • G TENET

    TRUSTEE

    Total calculated
    $35,000
    From this org
    $35,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • J SMITH

    TRUSTEE

    Total calculated
    $35,000
    From this org
    $35,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • S CATZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • S O'SULLIVAN

    TRUSTEE

    Total calculated
    $35,000
    From this org
    $35,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • W HURD

    TRUSTEE

    Total calculated
    $35,000
    From this org
    $35,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • J MISCIK

    TRUSTEE

    Total calculated
    $35,000
    From this org
    $35,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • S BOWSHER

    PRESIDENT

    Total calculated
    $2,560,117
    From this org
    $1,693,854
    From related orgs
    $0
    Other
    $866,263
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $841,336
    Bonus
    $850,000
    Other
    $2,518
    Deferred
    $836,600
    Nontaxable benefits
    $29,663
    Filer's total
    $2,560,117

  • M STROTTMAN

    CHIEF OPERATING OFFICER

    Total calculated
    $1,423,074
    From this org
    $1,056,830
    From related orgs
    $0
    Other
    $366,244
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $581,335
    Bonus
    $472,000
    Other
    $3,495
    Deferred
    $336,600
    Nontaxable benefits
    $29,644
    Filer's total
    $1,423,074

  • M DICKEN

    EVP, TECHNOLOGY PROGRAMS

    Total calculated
    $874,379
    From this org
    $834,126
    From related orgs
    $0
    Other
    $40,253
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $375,773
    Bonus
    $456,368
    Other
    $1,985
    Deferred
    $36,600
    Nontaxable benefits
    $3,653
    Filer's total
    $874,379

  • B ADAMS

    EVP, GENERAL COUNSEL

    Total calculated
    $769,034
    From this org
    $721,098
    From related orgs
    $0
    Other
    $47,936
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $436,074
    Bonus
    $278,460
    Other
    $6,564
    Deferred
    $36,600
    Nontaxable benefits
    $11,336
    Filer's total
    $769,034

  • G HOYEM

    MANAGING PARTNER, WEST COAST

    Total calculated
    $804,428
    From this org
    $644,435
    From related orgs
    $0
    Other
    $159,993
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $417,458
    Bonus
    $220,626
    Other
    $6,351
    Deferred
    $136,600
    Nontaxable benefits
    $23,393
    Filer's total
    $804,428

  • E FOX

    EVP, PRODUCT MARKETING & COMM.

    Total calculated
    $699,373
    From this org
    $633,148
    From related orgs
    $0
    Other
    $66,225
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $317,250
    Bonus
    $312,534
    Other
    $3,364
    Deferred
    $36,600
    Nontaxable benefits
    $29,625
    Filer's total
    $699,373

  • S DAVIDSON

    EVP, IQT EMERGE (UNTIL 12/31/22)

    Total calculated
    $680,704
    From this org
    $614,331
    From related orgs
    $0
    Other
    $66,373
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $379,682
    Bonus
    $232,544
    Other
    $2,105
    Deferred
    $36,600
    Nontaxable benefits
    $29,773
    Filer's total
    $680,704

  • S SEWALL

    EVP, STRATEGIC ISSUES

    Total calculated
    $653,589
    From this org
    $587,137
    From related orgs
    $0
    Other
    $66,452
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $333,576
    Bonus
    $248,900
    Other
    $4,661
    Deferred
    $36,600
    Nontaxable benefits
    $29,852
    Filer's total
    $653,589

  • J NELSON

    EVP, INT'L & CHIEF OF STAFF

    Total calculated
    $530,614
    From this org
    $464,396
    From related orgs
    $0
    Other
    $66,218
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $314,765
    Bonus
    $146,464
    Other
    $3,167
    Deferred
    $36,600
    Nontaxable benefits
    $29,618
    Filer's total
    $530,614

  • B JADEJA

    SENIOR PARTNER

    Total calculated
    $664,947
    From this org
    $640,771
    From related orgs
    $0
    Other
    $24,176
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $402,937
    Bonus
    $219,051
    Other
    $18,783
    Deferred
    $12,200
    Nontaxable benefits
    $11,976
    Filer's total
    $664,947

  • G GAFFNEY

    EVP, SENIOR FELLOW

    Total calculated
    $628,314
    From this org
    $612,308
    From related orgs
    $0
    Other
    $16,006
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $391,037
    Bonus
    $218,766
    Other
    $2,505
    Deferred
    $12,200
    Nontaxable benefits
    $3,806
    Filer's total
    $628,314

  • T GILLESPIE

    MANAGING PARTNER, WASHINGTON DC

    Total calculated
    $642,041
    From this org
    $600,161
    From related orgs
    $0
    Other
    $41,880
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $392,214
    Bonus
    $202,884
    Other
    $5,063
    Deferred
    $12,200
    Nontaxable benefits
    $29,680
    Filer's total
    $642,041

  • D LOBOSCO

    SVP, TECHNOLOGY

    Total calculated
    $662,495
    From this org
    $592,498
    From related orgs
    $0
    Other
    $69,997
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,693
    Bonus
    $339,840
    Other
    $1,965
    Deferred
    $42,200
    Nontaxable benefits
    $27,797
    Filer's total
    $662,495

  • E CHIU

    SENIOR PARTNER

    Total calculated
    $603,378
    From this org
    $561,515
    From related orgs
    $0
    Other
    $41,863
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $367,241
    Bonus
    $193,434
    Other
    $840
    Deferred
    $12,200
    Nontaxable benefits
    $29,663
    Filer's total
    $603,378

  • P TAGUE UNTIL 040122

    FORMER EVP, IQT INTL & IQT LABS

    Total calculated
    $428,032
    From this org
    $409,791
    From related orgs
    $0
    Other
    $18,241
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $126,425
    Bonus
    $282,906
    Other
    $460
    Deferred
    $12,200
    Nontaxable benefits
    $6,041
    Filer's total
    $428,032

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

  • 1a · First-class or charter travel
  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
IQT'S CORPORATE TRAVEL POLICY STATES, FOR DOMESTIC TRAVEL, "ALL IQT REQUIRED TO TRAVEL IN COACH OR ECONOMY CLASS." FOR FLIGHTS OVER APPROXIMATELY FIVE HOURS EMPLOYEES MAY BOOK ECONOMY PLUS AIRFARE.ON INTERNATIONAL FLIGHTS, IF AN EMPLOYEE IS EXPECTED TO WORK ON THE DAY OF ARRIVAL OR HAS WORKED THE FULL DAY OF DEPARTURE, THE EMPLOYEE MAY UPGRADE TO BUSINESS CLASS AIRFARE. WHILE THE CORPORATE TRAVEL POLICY SPECIFICALLY ADDRESSES IQT EMPLOYEE TRAVEL, IQT BOARD OF TRUSTEES ARE PROVIDED THE OPTION TO TRAVEL TO QUARTERLY BOARD MEETINGS IN BUSINESS CLASS AND RECEIVE REIMBURSEMENT. IQT GROSSES UP THE AMOUNT ADDED TO WAGES FOR THE CEO TO COMPENSATE FOR THE INCOME TAX LIABILITY ASSOCIATED WITH 1) PAYING A LIFE INSURANCE PREMIUM ON HIS BEHALF; 2) PAYING HIS COMMUTING EXPENSES FROM HIS PERSONAL RESIDENCE TO IQT HEADQUARTERS; 3) PAYING HIS VIRGINIA STATE TAX FOR DAYS WORKED IN VIRGINIA.
PART I, LINE 4B
THE COMPENSATION OF THE CEO, COO AND PRESIDENT IS NOT PAID FOR WITH GOVERNMENT FUNDING. IN ADDITION, ALL INDIVIDUAL EMPLOYEE COMPENSATION IN EXCESS OF $589,000 FOR CALENDAR YEAR 2022 IS ALSO NOT PAID FOR WITH GOVERNMENT FUNDING. FOR CALENDAR YEAR 2022, MR. DARBY'S EMPLOYMENT ARRANGEMENT IS AS FOLLOWS: - BASE SALARY OF $1,000,000; - AN ANNUAL PERFORMANCE BASED BONUS DECIDED BY THE BOARD BASED ON PRESET CRITERIA; - SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION AS A RETENTION MECHANISM, PAYABLE UPON COMPLETION OF THE CONTRACT TERM. FOR CALENDAR YEAR 2022, MR. BOWSHER'S EMPLOYMENT ARRANGEMENT IS AS FOLLOWS: - BASE SALARY OF $850,000; - AN ANNUAL PERFORMANCE BASED BONUS DECIDED BY THE BOARD BASED ON PRESET CRITERIA; - SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION AS A RETENTION MECHANISM, PAYABLE UPON COMPLETION OF THE CONTRACT TERM. FOR CALENDAR YEAR 2022, MR. STROTTMAN'S EMPLOYMENT ARRANGEMENT IS AS FOLLOWS: - BASE SALARY OF $590,000; - AN ANNUAL PERFORMANCE BASED BONUS DECIDED BY THE BOARD BASED ON PRESET CRITERIA; - SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION AS A RETENTION MECHANISM, PAYABLE UPON COMPLETION OF THE CONTRACT TERM.
SCHEDULE J, PART I, LINES 4B-C
IQT WAS THE MANAGING MEMBER OF A LONG-TERM EMPLOYEE INVESTMENT PROGRAM ("EIP"), THE IN-Q-TEL EMPLOYEE FUND, LLC, A SEPARATE RELATED ENTITY WHICH INVOLVED MAKING SIDE-BY-SIDE EQUITY INVESTMENTS WITH IQT. THE EIP WAS SUSPENDED IN JUNE 2007 AND IN 2021, IQT COMPLETED THE WIND DOWN OF THE ENTITY BY PURCHASING THE REMAINING POSITIONS FROM THE EMPLOYEE MEMBERS. EFFECTIVE MARCH 22, 2023, THE ENTITY WAS DISSOLVED.
PART VII & SCHEDULE J, PART II
IN ADDITION TO C. DARBY'S RESPONSIBILITIES AS CEO OF IQT, MR. DARBY SERVES AS A TRUSTEE ON THE COMPANY'S BOARD OF TRUSTEES. DARBY HAS WAIVED ANY COMPENSATION RELATED TO HIS TRUSTEE DUTIES AND HIS INCOME AS REPORTED IN THIS FORM IS ENTIRELY ATTRIBUTABLE TO HIS DUTIES AS CEO.

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

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.

  • IQTI LLC

    INVESTMENTS · DE · income $0 · assets $0

    Directly controlled by IN-Q-TELINC

  • IQT LABS LLC

    RESEARCH · DE · income $0 · assets $0

    Directly controlled by IN-Q-TELINC

  • FORMER COSMIQ LLC

    ANALYTICS · DE · income $0 · assets $0

    Directly controlled by IN-Q-TELINC

  • IQTE LLC

    RESEARCH · DE · income $0 · assets $0

    Directly controlled by IN-Q-TELINC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

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

  • IQT INTERNATIONAL UK LTD

    C · CONSULTING · UK · 100% owned · share of income $4,566,051 · share of assets $2,036,562 · controlled entity

    Directly controlled by IN-Q-TELINC

  • IQT INTERNATIONAL AUSTRALIA LTD

    C · CONSULTING · AS · 100% owned · share of income $2,552,824 · share of assets $1,810,764 · controlled entity

    Directly controlled by IN-Q-TELINC

  • IQT INTERNATIONAL SINGAPORE PTE LTD

    C · CONSULTING · SN · 100% owned · share of income $654,202 · share of assets $1,834,113 · controlled entity

    Directly controlled by IN-Q-TELINC

Provenance

Return type
form_990
Tax year
2022
Filed
13 February 2024
IRS schema version
2022v5.0
Source object
202440459349302179

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