Nanoelectronics Research Corporation
- Assets
- $0.0
- Revenue
- $13.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Durham, NC
- Founding
- 01/2008
- Data as of
- 12/2019
- EIN
- 20-2698055
Organization Overview
Nanoelectronics Research Corporation is located in Durham, NC. The organization was established in 2008. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. Nanoelectronics Research Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2019, Nanoelectronics Research Corporation generated $13.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (72.5%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Nanoelectronics Research Corporation has awarded 51 individual grants totaling $26,272,220. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NERC HAD 8 ACTIVE CONTRACTS DURING 2019. ALL FUNDS ARE PAID TO ACCREDITED COLLEGES AND UNIVERSITIES TO CONTINUE RESEARCH IN THE AREA OF NANOELECTRONICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Kenneth Hansen President & CEO | OfficerTrustee | 1 | $7,296 |
Karen Di Spigna Chief Accounting Officer | OfficerTrustee | 1 | $5,742 |
An Chen Program Director | Officer | 6 | $27,870 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $13,025 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $951,948 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $44,476 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $52,064 |
| Pension plan accruals and contributions | $14,076 |
| Other employee benefits | $7,453 |
| Payroll taxes | $4,818 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,544 |
| Fees for services: Accounting | $4,677 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,505 |
| Advertising and promotion | $0 |
| Office expenses | $253 |
| Information technology | $5,562 |
| Royalties | $0 |
| Occupancy | $7,045 |
| Travel | $663 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,857 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,349 |
| Insurance | $1,165 |
| All other expenses | $1,317 |
| Total functional expenses | $1,132,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Awarded
Over the last fiscal year, Nanoelectronics Research Corporation has awarded $951,949 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF CHICAGO PURPOSE: SCIENTIFIC RESEARCH | $11,085 |
PENNSYLVANIA STATE UNIVERSITY PURPOSE: SCIENTIFIC RESEARCH | $49,996 |
UNIVERSITY OF ILLINOIS URBANA CHAMPAIGN PURPOSE: SCIENTIFIC RESEARCH | $191,155 |
UNIVERSITY OF NOTRE DAME PURPOSE: SCIENTIFIC RESEARCH | $465,271 |
MASSACHUSETTS INSTITUTE OF TECHNOLOGY PURPOSE: SCIENTIFIC RESEARCH | $37,271 |
UNIVERSITY OF CALIFORNIA SAN DIEGO PURPOSE: SCIENTIFIC RESEARCH | $68,448 |