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Nonprofiteer
← Western Kentucky University Research Foundation Inc

Form 990 for tax year 2022

Filed by Western Kentucky University Research Foundation Inc.

Totals

Total revenue
$108,692
Total expenses
$71,138
Contributions and grants received
$0
Grants paid
$15,907
Program service revenue
$108,640
Investment income
$0
Other revenue
$52
Total assets, end of year
$1,444,408
Total liabilities, end of year
$994,661
Net assets or fund balances, end of year
$449,747
Program services expenses (Part IX)
$56,652
Management and general expenses
$14,486
Fundraising expenses
$0
Program service expenses (Part III)
$56,652

Program services were 79.6% 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.

  • 2a · Program service revenue: ADMINISTRATION FEES

    total $108,640 · related or exempt $108,640

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $52 · excluded $52

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,907 · program services $15,907

  • 11b · Fees: legal

    total $6,040 · management and general $6,040

  • 11c · Fees: accounting

    total $8,446 · management and general $8,446

  • 11g · Fees: other

    total $25,000 · program services $25,000 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $14,821 · program services $14,821

  • 14 · Information technology

    total $924 · program services $924

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $342,938 · end of year $380,491

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $69,255

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $69,255 · end of year $69,255

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $600,321 · end of year $994,662

  • 18 · Grants payable

    beginning of year $600,321 · end of year $994,661

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $412,193 · end of year $449,747

Mission and programs · 2022

Mission

The mission of the WKURF is to promote scholarly research and to serve as Western Kentucky University's agent in the receipt of intellectual property income, and in the protection, development, and commercialization of intellectual properties.

Activities or mission (Part I)

THE MISSION OF THE WESTERN KENTUCKY UNIVERSITY RESEARCH FOUNDATION, INC. IS TO PROMOTE SCHOLARLY RESEARCH AND TO SERVE AS WESTERN KENTUCKY UNIVERSITY'S AGENT IN THE RECEIPT OF INTELLECTUAL PROPERTY INCOME, AND IN THE PROTECTION, DEVELOPMENT, AND COMMERCIALIZATION OF INTELLECTUAL PROPERTIES.

  • THE MISSION OF THE WESTERN KENTUCKY UNIVERSITY RESEARCH FOUNDATION, INC. IS TO PROMOTE SCHOLARLY RESEARCH AND TO SERVE AS WESTERN KENTUCKY UNIVERSITY'S AGENT IN THE RECEIPT OF INTELLECTUAL PROPERTY INCOME, AND IN THE PROTECTION, DEVELOPMENT, AND COMMERCIALIZATION OF INTELLECTUAL PROPERTIES.

    Expenses $56,652 · Grants $15,907 · Revenue $108,640

As filed on the 2022 return.

Listed in Part VII

  • Laura Hagan

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Michael Cowles

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Jeff Hook

    Director

    Total calculated
    $159,964
    From this org
    $0
    From related orgs
    $120,270
    Other
    $39,694
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $120,270 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $20,357 related
    Nontaxable benefits
    $0 + $19,337 related
    Filer's total
    $0 + $159,964 related

  • Michael Minter

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ron Bunch

    Director

    Total calculated
    $0
    Hours/week
    1

  • Vijay Kamineni

    Director

    Total calculated
    $0
    Hours/week
    1

  • Whitney Peake

    Director

    Total calculated
    $222,664
    From this org
    $0
    From related orgs
    $180,531
    Other
    $42,133
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,531 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $29,969 related
    Nontaxable benefits
    $0 + $12,164 related
    Filer's total
    $0 + $222,664 related

  • Henry Steen

    President

    Total calculated
    $177,957
    From this org
    $0
    From related orgs
    $144,924
    Other
    $33,033
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $144,924 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,188 related
    Nontaxable benefits
    $0 + $9,845 related
    Filer's total
    $0 + $177,957 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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 March 2024
IRS schema version
2022v5.0
Source object
202440749349301604

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