University Of Tennessee Research Foundation
- Assets
- $94.3m
- Revenue
- $10.2m
- Investments
- $157.1k
- Employees
- 0
- Location
- Knoxville, TN
- Founding
- 06/1958
- Data as of
- 06/2023
- EIN
- 62-6047697
Organization Overview
University Of Tennessee Research Foundation is located in Knoxville, TN. The organization was established in 1958. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Tennessee Research Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, University Of Tennessee Research Foundation generated $10.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $7.7m during the year ending 06/2023. While expenses have increased by 2.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTED, ENCOURAGED, AND AIDED SCIENTIFIC, SOCIAL AND/OR EDUCATIONAL INVESTIGATION AND RESEARCH BY ASSISTING THE MARKETING OF TECHNOLOGIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTED, ENCOURAGED, AND AIDED SCIENTIFIC, SOCIAL AND/OR EDUCATIONAL INVESTIGATION AND RESEARCH BY ASSISSTING THE MARKETING OF TECHNOLOGIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brendan Boyd Board Member | Trustee | 1 | $0 |
Dr Wesley Byerly Board Member | Trustee | 1 | $0 |
Dr Deborah Crawford Board Member | Trustee | 1 | $0 |
Bradford Box ESQ Board Member | Trustee | 1 | $0 |
Dr Mike Paulus Board Member | Trustee | 1 | $0 |
Tracy Thompson Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Techstars Central Llc Consulting | 6/29/23 | $1,800,000 |
Lm Partners Llc Project Mgmt | 6/29/23 | $678,682 |
Jenkins Wilson Taylor & Hunt Legal | 6/29/23 | $321,447 |
Piper Communications Consulting | 6/29/23 | $122,604 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,018,732 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,021,232 |
| Total Program Service Revenue | $7,944,323 |
| Investment income | $204,879 |
| 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 | $10,170,434 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $833,401 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $380,297 |
| Payroll taxes | $0 |
| Fees for services: Management | $359,219 |
| Fees for services: Legal | $85,868 |
| Fees for services: Accounting | $31,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,000 |
| Advertising and promotion | $155,355 |
| Office expenses | $16,812 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,223,967 |
| Travel | $41,742 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,340 |
| Insurance | $38,885 |
| All other expenses | $50,914 |
| Total functional expenses | $7,723,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,952,098 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,109,737 |
| 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 | $39,881 |
| Net Land, buildings, and equipment | $6,674,920 |
| Investments—publicly traded securities | $478,013 |
| Investments—other securities | $157,099 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $71,911,125 |
| Total assets | $94,322,873 |
| Accounts payable and accrued expenses | $2,129,297 |
| 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 | $8,167,580 |
| Total liabilities | $10,296,877 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $990,384 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $83,035,612 |
| Total liabilities and net assets/fund balances | $94,322,873 |