Civic Intelligence

Unmc Science Research Fund

990 • Fiscal year 2020 • EIN 20-1619389

Jul 01, 2019 to Jun 30, 2020 • Filed on May 03, 2021

985090 Nebraska Medical CTROmaha, NE 68198-5090

(402) 559-4000

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.07x

Higher debt load relative to assets than 22% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

64th percentile

0.81x

Higher debt load relative to revenue than 64% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Net Margin

92nd percentile

47%

Higher net margin than 92% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$475,020

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Asset Growth

46th percentile

4.2%

Faster asset growth than 46% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

65th percentile

7.1%

Faster revenue growth than 65% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Assets

Up

$159,694,053

Up $6,407,819 (+4.2%) from 2019

Net Assets

Up

$148,188,983

Up $7,269,179 (+5.2%) from 2019

Liabilities

Down

$11,505,070

Down $861,360 (-7.0%) from 2019

Revenue

Up

$14,179,533

Up $944,176 (+7.1%) from 2019

Expenses

Up

$7,550,424

Up $1,342,395 (+22%) from 2019

Net Income

Down

$6,629,109

Down $398,219 (-5.7%) from 2019

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2016: $112,245,280Liabilities 2016: $3,515,549Net Assets 2016: $108,729,7312016Assets 2017: $124,114,883Liabilities 2017: $2,349,242Net Assets 2017: $121,765,6412017Assets 2018: $136,449,381Liabilities 2018: $3,892,277Net Assets 2018: $132,557,1042018Assets 2019: $153,286,234Liabilities 2019: $12,366,430Net Assets 2019: $140,919,8042019Assets 2020: $159,694,053Liabilities 2020: $11,505,070Net Assets 2020: $148,188,9832020Assets 2021: $181,684,647Liabilities 2021: $4,818,261Net Assets 2021: $176,866,3862021Assets 2022: $170,853,696Liabilities 2022: $6,005,966Net Assets 2022: $164,847,7302022Assets 2023: $180,057,353Liabilities 2023: $1,847,245Net Assets 2023: $178,210,1082023Assets 2024: $201,214,632Liabilities 2024: $1,540,436Net Assets 2024: $199,674,1962024Assets 2025: $207,410,144Liabilities 2025: $4,919,074Net Assets 2025: $202,491,0702025

Highlighted filing

2020

Assets$159,694,053
Liabilities$11,505,070
Net Assets$148,188,983

Operations Trend

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

$150M$100M$50M$0Revenue 2016: $108,729,731Expenses 2016: $0Net Income 2016: $108,729,7312016Revenue 2017: $10,704,792Expenses 2017: $2,101,246Net Income 2017: $8,603,5462017Revenue 2018: $14,997,391Expenses 2018: $2,834,039Net Income 2018: $12,163,3522018Revenue 2019: $13,235,357Expenses 2019: $6,208,029Net Income 2019: $7,027,3282019Revenue 2020: $14,179,533Expenses 2020: $7,550,424Net Income 2020: $6,629,1092020Revenue 2021: $13,223,626Expenses 2021: $7,667,160Net Income 2021: $5,556,4662021Revenue 2022: $18,304,038Expenses 2022: $6,675,980Net Income 2022: $11,628,0582022Revenue 2023: $7,990,757Expenses 2023: $2,880,826Net Income 2023: $5,109,9312023Revenue 2024: $14,813,730Expenses 2024: $5,909,309Net Income 2024: $8,904,4212024Revenue 2025: $64,068,869Expenses 2025: $60,612,132Net Income 2025: $3,456,7372025

Highlighted filing

2020

Revenue$14,179,533
Expenses$7,550,424
Net Income$6,629,109
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 3, 2021
Return Version
2019v5.1
Gross Receipts
$14,179,533
Mission and Program Overview

Mission

The UNMC Science Research Fund (SRF) is a Nebraska Non-Profit corporation without members. It promotes, encourages, and assists research and scholarly activities by the departments, faculty, staff, and students of UNMC. It also provides guidance and assistance to the community of UNMC to develop new discoveries, inventions, and other intellectual property and to promote the transfer and commercialization of such intellectual property which are beneficial to and compatible with the role and mission of UNMC.

The unmc science research fund (srf) promotes, encourages and assists research and scholarly activities by the departments, faculty, staff and students of unmc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$115,003,083$117,883,064▲ $2,879,981
Other Notes and Loans Receivable, Net$23,284,248$17,743,114▼ $5,541,134
Savings and Temporary Cash Investments$9,884,427$17,507,160▲ $7,622,733
Cash and Non-Interest-Bearing Accounts$3,455,390$3,272,796▼ $182,594
Investments Other Securities$1,505,908$3,246,339▲ $1,740,431
Accounts Receivable$153,178$41,580▼ $111,598
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$153,286,234$159,694,053▲ $6,407,819
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$11,324,738$11,484,936▲ $160,198
Accounts Payable and Accrued Expenses$1,041,692$20,134▼ $1,021,558
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$12,366,430$11,505,070▼ $861,360
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$93,880,930$95,845,452▲ $1,964,522
Net Assets With Donor Restrictions$47,038,874$52,343,531▲ $5,304,657
Total Net Assets Fund Balance$140,919,804$148,188,983▲ $7,269,179
Total Liabilities and Net Assets / Fund Balance$153,286,234$159,694,053▲ $6,407,819
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Dr Debra RombergerVice PresidentPT$71,720$71,720

Board Members and Trustees

NameTitle
Dr Bradley E BritiganChairman
Dr Carl V SmithPresident
DR JAMES O'DELLDirector
Dr Ashley WysongDirector
Dr Charles EnkeDirector
Dr Craig WalkerDirector
Dr Dwight JonesDirector
Dr Howard Y LiuDirector
Dr Jeffrey HarrisonDirector
Dr Joseph H SissonDirector
Dr Kevin GarvinDirector
Dr Matthew RizzoDirector
Dr Michael WadmanDirector
Dr Ronald KruegerDirector
Dr Samuel BiernerDirector
Dr Steve HinrichsDirector
Dr Steven LiscoDirector
Dr Troy PlumbDirector
Dr Kari SimonsenDIRECTOR (start 11/2019)
Dr Aviva AboschDirector (start 7/19)
Dr Michael SitoriusDirector (thru 1/2020)
Dr Anna SpagnoliDIRECTOR (thru 10/2019)
Dr David MercerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$9,449,644
Program Service Revenue
$0
Investment Income
$4,310,594
Other Revenue
$419,295
All Other Contributions
$9,449,644
Change in Net Assets
$6,629,109

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,542,584
Revenue Not Reported on Financial Statements
$3,636,949
Revenue Not Reported on Form 990
$539,599
Other Revenue Adjustments
$3,636,949
Total Revenue per Audited Statements
$11,082,183
Total Revenue per Form 990
$14,179,533
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,728,036
Other Expenses$822,388
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$6,728,036--$6,728,036
Fees for Service Investment Mgmnt Fees$264,458$324,414-$588,872
Fees for Services Accounting$56,425$22,607-$79,032
Fees for Services Other$26,708--$26,708
Other Expenses$19,233$8,072-$19,233
Total Functional Expenses$7,195,331$355,093$0$7,550,424

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$7,736,203
Other Expense Adjustments$7,736,203
Total Expenses per Form 990$7,550,424
Expenses Not Reported on Form 990$-100,471
Expenses per Audited Statements$-185,779
Total Expenses per Audited Statements$-286,250
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of Nebraska Medical CenterOmaha, NE501(c)(3)Research/Scholarly$4,099,254
University of Nebraska FoundationOmaha, NE501(c)(3)Program Support$2,628,782
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$8,356,692
Unmc Payable$1,520,624
Contribution Payable$1,449,454
Unmc Physicians - Self Insurance$149,000
Nebraska Medicine Payable$9,166
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B

After completion and before filing of the Form 990, it is reviewed by the organization's governing body. Any suggestions or changes that are necessary are then made.

Form 990, Part VI, Section B, Line 12C

Each Covered Person must promptly and fully report to UNMC Science Research Fund's Chairman of the Board and/or President, situations that may create a conflict of interest when he or she becomes aware of such situations. In any situation where a Covered Person is in doubt, full disclosure should be made so as to permit an impartial and objective determination. A written record of the disclosure will be made. In the case where the Chairman and/or President have a reporting obligation for a conflict of interest, he or she shall report to Vice President of UNMC Science Research Fund. In addition to the ongoing disclosure obligation, UNMC Science Research Fund shall annually send to all Covered Persons a copy of this Policy statement and the Conflict of Interest Disclosure Statement. The Covered Persons must promptly complete, sign, and return the statement to the Secretary of UNMC Science Research Fund. The completed statements will be reviewed by the Chairman and/or President or his or her designee(s). The President or the President's designee shall make such further investigation of conflicts of interest disclosures as he or she may deem appropriate. If the conflict involves the President, the Chairman will assume the President's role outlined in this Policy. Based on review and evaluation of the relevant facts and circumstances, the President will make an initial determination as to whether a conflict of interest exists and whether, pursuant to this Policy statement, review and approval or other action by the Board of Directors is required. A written record of the President's determination, including relevant facts and circumstances, will be made. The President shall then make an appropriate report to the Executive Committee of the Board concerning such review, evaluation and determination. If there is a difference of opinion between the President and another Covered Person as to whether the facts and circumstances of a given situation constitute a conflict of interest or whether Board of Directors review and approval or other action is required within this Policy statement, the matter shall be submitted to the Board's Executive Committee, which shall make a final determination as to the matter presented. Such determination, including relevant facts and circumstances, will be reflected in the Committee minutes and will be reported to the Board of Directors.

Form 990, Part VI, Line 19

The organization provides all governing documents and financial statements to the public upon request.

Filing and Contact Details

Filer

Filer Name
UNMC Science Research Fund
EIN
20-1619389
In Care Of
% LINA JIANG
Phone
4025594000
Address
985090 Nebraska Medical CTR, Omaha, NE 68198-5090

Signing Officer

Name
Dr Carl V Smith
Title
President
Phone
4025594000
Signed
2021-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Carl V Smith
Formed
2005
Legal Domicile
Ne
Voting Board Members
22
Independent Board Members
0
Employees
0
Volunteers
1

Preparer

Firm
Kpmg Llp
Address
1212 North 96th Street Suite 300, Omaha, NE 68114
Preparer
Donald Neal Jr
Phone
4023481450
Supplemental Narrative

Financial Statement Notes

Fin 48 Footnote

Schedule D, Part X, Line 2 SRF has been recognized as a not-for-profit organization by the Internal Revenue Service as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code (the Code). U.S. generally accepted accounting principles require management to evaluate tax positions taken and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service.

Schedule D, Part XI, Line 2D

UBI Income Tax 100,471

Schedule D, Part XI, Line 4B

Self Insurance Adjustment 419,295 Investment Fee 588,872 Contribution to NUF 2,628,782 ____________ Total 3,636,949

Schedule D, Part XII, Line 2D

UBI Income Tax 100,471

Schedule D, Part XII, Line 4B

Transfer to UNMC 4,099,254 Self Insurance Adjustment 419,295 Investment Fee 588,872 Contribution to NUF 2,628,782 ____________ Total 7,736,203

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