Civic Intelligence

Florida State University Magnet Research and Development Inc.

990 • Fiscal year 2014 • EIN 13-4356799

Jul 01, 2013 to Jun 30, 2014 • Filed on Dec 30, 2014

Organization Profilewww.magnet.fsu.edu
109 Westcott BuildingSuite32306-1330

(850) 644-8390

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

72nd percentile

0.36x

Higher debt load relative to assets than 72% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

83rd percentile

0.90x

Higher debt load relative to revenue than 83% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

63rd percentile

7.8%

Higher net margin than 63% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

99th percentile

$729,322

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 98.2% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

7th percentile

-17%

Faster asset growth than 7% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

68th percentile

13%

Faster revenue growth than 68% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$1,858,123

Down $391,241 (-17%) from 2013

Net Assets

Up

$1,190,991

Up $57,947 (+5.1%) from 2013

Liabilities

Down

$667,132

Down $449,188 (-40%) from 2013

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin63rd percentile

Revenue

$743,054

No earlier filing loaded for comparison.

Expenses

Down

$685,107

Down $118,075 (-15%) from 2013

Net Income

$57,947

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $1,099,238Liabilities 2011: $524,648Net Assets 2011: $574,5902011Assets 2012: $1,452,576Liabilities 2012: $654,580Net Assets 2012: $797,9962012Assets 2013: $2,249,364Liabilities 2013: $1,116,320Net Assets 2013: $1,133,0442013Assets 2014: $1,858,123Liabilities 2014: $667,132Net Assets 2014: $1,190,9912014Assets 2015: $1,474,193Liabilities 2015: $271,139Net Assets 2015: $1,203,0542015Assets 2016: $849,052Liabilities 2016: $247,658Net Assets 2016: $601,3942016Assets 2017: $676,096Liabilities 2017: $324,789Net Assets 2017: $351,3072017Assets 2018: $522,818Liabilities 2018: $201,468Net Assets 2018: $321,3502018Assets 2019: $439,692Liabilities 2019: $136,676Net Assets 2019: $303,0162019Assets 2020: $360,872Liabilities 2020: $44,672Net Assets 2020: $316,2002020Assets 2021: $333,322Liabilities 2021: $46,052Net Assets 2021: $287,2702021Assets 2022: $287,131Liabilities 2022: $11,217Net Assets 2022: $275,9142022Assets 2023: $309,474Liabilities 2023: $47,285Net Assets 2023: $262,1892023Assets 2024: $347,086Liabilities 2024: $39,662Net Assets 2024: $307,4242024

Highlighted filing

2014

Assets$1,858,123
Liabilities$667,132
Net Assets$1,190,991
Open 2014 Filing

Operations Trend

Revenue Growth68th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2011: $510,289Expenses 2011: $542,447Net Income 2011: -$32,1582011Expenses 2012: $839,9762012Expenses 2013: $803,1822013Revenue 2014: $743,054Expenses 2014: $685,107Net Income 2014: $57,9472014Revenue 2015: $790,739Expenses 2015: $778,676Net Income 2015: $12,0632015Revenue 2016: $959,374Expenses 2016: $1,561,034Net Income 2016: -$601,6602016Revenue 2017: $480,520Expenses 2017: $730,607Net Income 2017: -$250,0872017Revenue 2018: $657,193Expenses 2018: $687,150Net Income 2018: -$29,9572018Revenue 2019: $95,834Expenses 2019: $114,168Net Income 2019: -$18,3342019Revenue 2020: $139,068Expenses 2020: $125,883Net Income 2020: $13,1852020Revenue 2021: $653Expenses 2021: $29,583Net Income 2021: -$28,9302021Revenue 2022: $12,190Expenses 2022: $23,546Net Income 2022: -$11,3562022Revenue 2023: $10,648Expenses 2023: $24,373Net Income 2023: -$13,7252023Revenue 2024: $115,796Expenses 2024: $70,561Net Income 2024: $45,2352024

Highlighted filing

2014

Revenue$743,054
Expenses$685,107
Net Income$57,947
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Dec 30, 2014
Return Version
2013v4.0
Gross Receipts
$743,054
Mission and Program Overview

Mission

Fsumrd operates for the purpose of supporting, encouraging, and promoting scientific research, education, and training activities of faculty, staff, and students of florida state university. The organization exists to design, develop, invent, assemble, construct, test, repair, maintain, and fabricate magnets or magnet systems of any type of design, and any ancillary components necessary or desirable for the development, operation, or mainenance thereof.

The organization is operated exclusively for educational purposes. Its purpose is the promotion, encouragement, and assistance of research and training activities for fsu.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,188,365$1,691,367▼ $496,998
Prepaid Expenses and Deferred Charges$0$100,317▲ $100,317
Accounts Receivable$60,999$66,439▲ $5,440
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$2,249,364$1,858,123▼ $391,241
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$829,022$650,946▼ $178,076
Accounts Payable and Accrued Expenses$287,298$16,186▼ $271,112
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,116,320$667,132▼ $449,188
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,133,044$1,190,991▲ $57,947
Total Liabilities and Net Assets / Fund Balance$2,249,364$1,858,123▼ $391,241
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleOtherTotal
Clyde ReaTreasurer$125,514$125,514
Beth HodgesSecretary (07/13-09/13)$80,779$80,779
Linda MccorveySecretary (09/13-06/14)$66,293$66,293
Dr Kirby W KemperDirector (07/13-02/14)$9,226$9,226

Board Members and Trustees

NameTitle
Gary OstranderPresident/Director
Dr Gregory BoebingerDirector
James BrooksDirector
Mark D BirdDirector
David LarbalestierDirector (03/14-06/14)
Garnett S StokesDirector (04/14-06/14)
Dr Eric J BarronDirector (07/13-04/14)
Dr Ross EllingtonVP/Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$742,991
Investment Income
$63
Other Revenue
$0
Change in Net Assets
$57,947

Audited Revenue Reconciliation

Revenue per Audited Statements
$743,054
Total Revenue per Audited Statements
$743,054
Total Revenue per Form 990
$743,054
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$685,107
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$100,904--$100,904
Fees for Services Accounting$0$17,942$0$17,942
Insurance$0$1,859$0$1,859
Travel$1,847$0$0$1,847
Other Expenses$534$61-$61
Office Expenses$0$39$0$39
Total Functional Expenses$665,206$19,901$0$685,107

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$685,107
Total Expenses per Audited Statements$685,107
Total Expenses per Form 990$685,107
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI

“Line 11 the organization reviews form 990 and resolves any issues or questions with the independent accounting firm that prepares the forms. The organization reviews the form 990 before it's filed with the irs. Line 12c the organization's conflict of interest policy requires annual disclosure reporting in accordance with the florida commission of ethics. Line 15a & 15b florida state university magnet research and development, inc. Does not have any employees. All personnel costs are paid through florida state university and follow florida state university's compensation policies. Fsumrd is a direct support organization of florida state university. Line 19 documents are available to the public upon written request.”

Filing and Contact Details

Filer

EIN
13-4356799
In Care Of
% CLYDE REA
Phone
8506448390

Signing Officer

Name
Clyde Rea
Title
Treasurer
Phone
8506448390
Signed
2014-12-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary K Ostrander
Formed
2007
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Preparer
Stacey T Kolka
Phone
8506448390
Supplemental Narrative

Financial Statement Notes

Part X, Line 2

“With few exceptions, the corporation is no longer subject to examinations by major tax jurisdictions for years ended june 30, 2010 and prior. Prior.”

Raw XML AppendixShowing 400 of 626 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR (07/13-04/14)
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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR (04/14-06/14)
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR (03/14-06/14)
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IRS990/OtherExpensesGrp/TotalAmt1534
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IRS990/PrincipalOfficerNm0Gary K Ostrander
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IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0742991
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0742991
IRS990/ProgSrvcAccomActy2Grp/Desc0Hybrid Magnet development project for Radboud University Nijmegan.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0131375
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0106234
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IRS990/PYRevenuesLessExpensesAmt0335048
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01138230
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IRS990/RelatedEntityInd0true
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt01691367
IRS990ScheduleA/CertificationInd0X
IRS990ScheduleA/Contribution35ControlledInd0false
IRS990ScheduleA/ContributionControllerInd0false
IRS990ScheduleA/ContributionFamilyInd0false
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IRS990ScheduleA/SupportedOrgInformationGrp/EIN0591961248
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc002
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0685107
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine10FLORIDA STATE UNIVERSITY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd0true
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
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IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0685107
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueSubtotalAmt0743054
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0WITH FEW EXCEPTIONS, THE CORPORATION IS NO LONGER SUBJECT TO EXAMINATIONS BY MAJOR TAX JURISDICTIONS FOR YEARS ENDED JUNE 30, 2010 AND PRIOR. PRIOR.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2
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IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt0743054
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0743054
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt30
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt70
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount70
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt2244
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt3244
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt4233000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt5244
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1228868
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2153415
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt5291376
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt7244451
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,858,123
Liabilities
$667,132
Net assets
$1,190,991
Revenue
$743,054
Expenses
$685,107
Net income
$57,947
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.35$0.04$0.31$0.12$0.07$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.31$0.05$0.26$0.01$0.02$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.29$0.01$0.28$0.01$0.02$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.05$0.29$0.00$0.03$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.36$0.04$0.32$0.14$0.13$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.44$0.14$0.30$0.10$0.11$0.02
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.20$0.32$0.66$0.69$0.03
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$0.32$0.35$0.48$0.73$0.25
2016Detailed filing. Detailed filing data is available for this year.$0.85$0.25$0.60$0.96$1.56$0.60
2015Detailed filing. Detailed filing data is available for this year.$1.47$0.27$1.20$0.79$0.78$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.86$0.67$1.19$0.74$0.69$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.25$1.12$1.13$0.80
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$0.65$0.80$0.84
2011Summary only. Only limited summary data is available for this year.$1.10$0.52$0.57$0.51$0.54$0.03