Civic Intelligence

The Penn State Research Foundation

EIN 25-1359185 • 501(c)3 • University Park, PA

Profile

The Penn State Research Foundations mission is to seek patent protection for and exploit the inventions of The Pennsylvania State University. In addition, the Foundation issues grants to support scientific and engineering research at The Pennsylvania State University.

180 Pollock Road 308 Old MainUniversity Park, PA 16802

psu.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

39th percentile

0.06x

Higher debt load relative to assets than 39% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

34th percentile

0.07x

Higher debt load relative to revenue than 34% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

73rd percentile

20%

Higher net margin than 73% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

58th percentile

7.4%

Faster asset growth than 58% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2024

Revenue Growth

28th percentile

-3.7%

Faster revenue growth than 28% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2024

Assets

Down

$8,267,382

Down $502,751 (-5.7%) from 2023

Liabilities

Down

$523,383

Down $1,167,352 (-69%) from 2023

Net Assets

Up

$7,743,999

Up $664,601 (+9.4%) from 2023

Revenue

Up

$7,203,435

Up $1,548,060 (+27%) from 2023

Expenses

Up

$5,759,620

Up $160,968 (+2.9%) from 2023

Net Income

Up

$1,443,815

Up $1,387,092 (+2445%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2020: $4,991,979Liabilities 2020: $1,550,309Net Assets 2020: $3,441,6702020Assets 2021: $6,671,003Liabilities 2021: $1,750,070Net Assets 2021: $4,920,9332021Assets 2022: $8,344,737Liabilities 2022: $1,902,063Net Assets 2022: $6,442,6742022Assets 2023: $8,770,133Liabilities 2023: $1,690,735Net Assets 2023: $7,079,3982023Assets 2024: $8,267,382Liabilities 2024: $523,383Net Assets 2024: $7,743,9992024

Highlighted filing

2024

Assets$8,267,382
Liabilities$523,383
Net Assets$7,743,999

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0Revenue 2020: $4,837,721Expenses 2020: $4,420,480Net Income 2020: $417,2412020Revenue 2021: $8,076,994Expenses 2021: $6,618,077Net Income 2021: $1,458,9172021Revenue 2022: $5,169,616Expenses 2022: $4,810,955Net Income 2022: $358,6612022Revenue 2023: $5,655,375Expenses 2023: $5,598,652Net Income 2023: $56,7232023Revenue 2024: $7,203,435Expenses 2024: $5,759,620Net Income 2024: $1,443,8152024

Highlighted filing

2024

Revenue$7,203,435
Expenses$5,759,620
Net Income$1,443,815

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 15, 2025
Return Version
2024v5.2
Gross Receipts
$7,203,435
Mission and Program Overview

Mission

The Penn State Research Foundation's mission is to seek protection/ exploit the inventions of Penn State University. The Foundation also makes grants to support scientific and eng. research at Penn State.

The Penn State Research Foundations mission is to foster and advance scientific research which includes creating, purchasing, holding and licensing of rights for inventions, designs and intellectual property of The Pennsylvania State University.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$4,726,831$4,861,653▲ $134,822
Investments in Publicly Traded Securities$2,786,062$2,006,878▼ $779,184
Cash and Non-Interest-Bearing Accounts$470,149$1,002,708▲ $532,559
Accounts Receivable$787,091$396,143▼ $390,948
Total Assets$8,770,133$8,267,382▼ $502,751
Liabilities
Deferred Revenue$636,922--
Accounts Payable and Accrued Expenses$1,053,813$523,383▼ $530,430
Total Liabilities$1,690,735$523,383▼ $1,167,352
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,079,398$7,743,999▲ $664,601
Total Net Assets Fund Balance$7,079,398$7,743,999▲ $664,601
Total Liabilities and Net Assets / Fund Balance$8,770,133$8,267,382▼ $502,751

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$4,861,653--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Tracy ClaarAssistant Secretary$93,749$93,749

Board Members and Trustees

NameTitle
Lora WeissFormer President
Andrew ReadPresident
Bin YanVice President
Andrew StephensonDirector
Bruce ShookDirector
C Daniel AzzaraDirector
Charles KunschDirector
Eric Hall IIDirector
Gregory LewisDirector
Joseph HerbstDirector
Kathleen ShayDirector
Mark GranahanDirector
Neelima BendapudiDirector
Patricia LoftusDirector
Selda GunselDirector
Eric BarronFormer Director
Lee WagnerActing Treasurer Eff 052025
Shannon HarveyAssistant Secretary
James DelattreSecretary
Virginia A TeacheyTreasurer Term 42025
Revenue and Support

Revenue Composition

Contributions and Grants
$2,429,913
Program Service Revenue
$4,529,362
Investment Income
$244,160
Other Revenue
$0
Change in Net Assets
$1,443,815
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,759,620
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
Royalties$2,279,286--$2,279,286
Payments to Affiliates$1,511,495--$1,511,495
Other Expenses$161,750--$161,750
Fees for Service Investment Mgmnt Fees-$11,289-$11,289
Fees for Services Other-$2,809-$2,809
Total Functional Expenses$5,745,522$14,098$0$5,759,620
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

The Corporation for Penn State is the sole member and elects the directors.

Member election for additional members Part VI line 7A

The Corporation for Penn State is the sole member and elects the directors.

Form 990 governing body review Part VI line 11

The draft Form 990 is provided to the Board of Directors for comment, questions, review, and approval prior to filing.

Conflict of interest policy compliance Part VI line 12C

The Board of Directors, Members, and Officers complete an annual questionaire documenting compliance with the organizations conflict of interest policy.

CEO executive director top management comp Part VI line 15A

Part IV, Section B, Lines 13, 14, and 15:The policies and procedures of the related controlling parent organization govern the Foundations activities including, but not limited to, a whistleblower, document retention and destruction, and compensation determination policy.The related controlling parent organization provides professional services which includes employee support to the Foundation. The Foundation does not directly employ employees.

Form 990 availability to public Part VI line 18

The Foundations Form 990s are available upon written and/or oral request.

Governing documents etc available to public Part VI line 19

The Foundations governing documents, conflict of interest and other related policies, and financial statements are available upon written and/or oral request.

Part VII response or note to any other line in Part VII

The related controlling parent organization provides professional services which includes employee support to the Foundation. The Foundation does not directly employ employees.All remuneration reported was for services rendered as full-time employees of a related organization and not for services rendered to the filing organization.

Filing and Contact Details

Filer

Filer Name
The Penn State Research Foundation
EIN
25-1359185
In Care Of
% Lee Wagner
Phone
8148650953
Address
180 Pollock Road 308 Old Main, University Park, PA 16802

Signing Officer

Name
Lee Wagner
Title
Controller
Phone
8148650953
Signed
2025-10-15

Organization Details

Principal Officer
Lee Wagner
Formed
1934
Legal Domicile
Pa
Voting Board Members
12
Independent Board Members
9
Employees
0
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