Civic Intelligence

Florida State University Research Foundation Inc.

990 • Fiscal year 2017 • EIN 59-3211153

Jul 01, 2016 to Jun 30, 2017 • Filed on Oct 31, 2017

2000 Levy Avenue Suite 351Tallahassee, FL 32310

(850) 644-8650

Siviq Scores

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

Liabilities / Assets

35th percentile

0.19x

Higher debt load relative to assets than 35% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

79th percentile

1.52x

Higher debt load relative to revenue than 79% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

82nd percentile

24%

Higher net margin than 82% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

74th percentile

$838,751

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

57th percentile

7.6%

Faster asset growth than 57% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

52nd percentile

5.8%

Faster revenue growth than 52% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Assets

Up

$158,968,854

Up $11,193,917 (+7.6%) from 2016

Net Assets

Up

$128,440,456

Up $10,262,882 (+8.7%) from 2016

Liabilities

Up

$30,528,398

Up $931,035 (+3.1%) from 2016

Revenue

Up

$20,125,230

Up $1,112,066 (+5.8%) from 2016

Expenses

Down

$15,217,715

Down $961,814 (-5.9%) from 2016

Net Income

Up

$4,907,515

Up $2,073,880 (+73%) from 2016

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2011: $147,802,960Liabilities 2011: $42,787,601Net Assets 2011: $105,015,3592011Assets 2012: $141,403,787Liabilities 2012: $40,463,555Net Assets 2012: $100,940,2322012Assets 2013: $135,335,177Liabilities 2013: $32,420,978Net Assets 2013: $102,914,1992013Assets 2014: $141,469,662Liabilities 2014: $28,991,847Net Assets 2014: $112,477,8152014Assets 2015: $145,497,175Liabilities 2015: $29,047,497Net Assets 2015: $116,449,6782015Assets 2016: $147,774,937Liabilities 2016: $29,597,363Net Assets 2016: $118,177,5742016Assets 2017: $158,968,854Liabilities 2017: $30,528,398Net Assets 2017: $128,440,4562017Assets 2018: $169,104,961Liabilities 2018: $29,137,266Net Assets 2018: $139,967,6952018Assets 2019: $179,270,956Liabilities 2019: $32,754,990Net Assets 2019: $146,515,9662019Assets 2020: $181,884,344Liabilities 2020: $29,042,916Net Assets 2020: $152,841,4282020Assets 2021: $209,954,380Liabilities 2021: $27,891,620Net Assets 2021: $182,062,7602021Assets 2022: $238,210,385Liabilities 2022: $69,758,573Net Assets 2022: $168,451,8122022Assets 2023: $245,277,590Liabilities 2023: $67,682,702Net Assets 2023: $177,594,8882023Assets 2024: $224,086,083Liabilities 2024: $66,841,634Net Assets 2024: $157,244,4492024

Highlighted filing

2017

Assets$158,968,854
Liabilities$30,528,398
Net Assets$128,440,456

Operations Trend

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

$100M$50M$0-$50MExpenses 2011: $15,551,5982011Expenses 2012: $19,747,7802012Expenses 2013: $21,561,8432013Revenue 2014: $16,381,427Expenses 2014: $14,592,027Net Income 2014: $1,789,4002014Revenue 2015: $22,404,163Expenses 2015: $12,577,510Net Income 2015: $9,826,6532015Revenue 2016: $19,013,164Expenses 2016: $16,179,529Net Income 2016: $2,833,6352016Revenue 2017: $20,125,230Expenses 2017: $15,217,715Net Income 2017: $4,907,5152017Revenue 2018: $47,830,730Expenses 2018: $14,218,549Net Income 2018: $33,612,1812018Revenue 2019: $21,565,808Expenses 2019: $15,864,828Net Income 2019: $5,700,9802019Revenue 2020: $21,810,684Expenses 2020: $15,992,579Net Income 2020: $5,818,1052020Revenue 2021: $23,963,876Expenses 2021: $13,069,436Net Income 2021: $10,894,4402021Revenue 2022: $28,107,542Expenses 2022: $14,832,298Net Income 2022: $13,275,2442022Revenue 2023: $24,244,716Expenses 2023: $18,836,373Net Income 2023: $5,408,3432023Revenue 2024: $18,957,067Expenses 2024: $50,836,314Net Income 2024: -$31,879,2472024

Highlighted filing

2017

Revenue$20,125,230
Expenses$15,217,715
Net Income$4,907,515
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Oct 31, 2017
Return Version
2016v3.0
Gross Receipts
$20,548,756
Mission and Program Overview

Mission

To promote, encourage and facilitate the research and training activities of faculty, staff and students of the florida state university through income from contracts, grants and other sources.

To promote, encourage, and assist the research and training in activities of faculty, staff, and students of florida state university (fsu) through income from contracts, grants, and other sources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$118,177,574$128,440,456▲ $10,262,882
Savings and Temporary Cash Investments$75,723,097$78,753,754▲ $3,030,657
Investments Other Securities$47,470,059$56,209,356▲ $8,739,297
Land, Buildings, and Equipment, Net$16,916,760$15,991,686▼ $925,074
Pledges and Grants Receivable$688,442$1,185,628▲ $497,186
Other Notes and Loans Receivable, Net$1,000,000$1,025,000▲ $25,000
Accounts Receivable$293,600$159,836▼ $133,764
Prepaid Expenses and Deferred Charges$99,065$146,639▲ $47,574
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$147,774,937$158,968,854▲ $11,193,917
Other Assets Total$5,583,914$5,496,955▼ $86,959
Liabilities
Deferred Revenue$10,109,266$10,676,868▲ $567,602
Other Liabilities$9,060,463$9,806,146▲ $745,683
Tax Exempt Bond Liabilities$10,100,000$9,585,000▼ $515,000
Accounts Payable and Accrued Expenses$327,634$460,384▲ $132,750
Total Liabilities$29,597,363$30,528,398▲ $931,035
Net Assets / Fund Balance
Total Net Assets Fund Balance$118,177,574$128,440,456▲ $10,262,882
Total Liabilities and Net Assets / Fund Balance$147,774,937$158,968,854▲ $11,193,917

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,665,032$11,952,619$26,617,651
Land$1,326,654-$1,326,654
Other Securities$56,209,356--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Heather CaveExecutive DirectorFT$78,236$78,236
Kelly StarkeSecretaryPT$63,455$63,455

Board Members and Trustees

NameTitle
Gary K OstranderPresident
William R EllingtonVice President
John ThrasherDirector
Joseph W LandersDirector
Kay StephensonDirector
Kim WilliamsDirector
Kyle ClarkDirector
Ricardo SchneiderDirector
Sally McrorieDirector
Sam HuckabaDirector
Bill SweeneyFormer Director
David CoburnFormer Director
Holly NewellFormer Officer (CFO)
Olivia PopeTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Smith & Hopen PaLegal-patent And Copyright180 PINE AVENUE N, Oldsmar, FL 34677$389,882
Rosen Centre HotelBanquet-conference Event9840 INTERNATIONAL DRIVE, Orlando, FL 32819$150,498
Eversheds Sutherland (us) LLPLegal-patent And Copyright999 PEACHTREE ST NE SUITE 2300, Atlanta, GA 30309$146,546
Alchemy-partners PCLegal-patent And Copyright5885 TRINITY PARKWAY SUITE 370, Centreville, VA 20120$130,058
Public Religion Research Institute INCResearch Grant2027 MASSACHUSETTS AVE NW FL3, Washington Dc, DC 20036$115,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$16,275,303
Investment Income
$3,824,472
Other Revenue
$25,455
Change in Net Assets
$4,907,515

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,125,230
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$5,405,129
Total Revenue per Audited Statements
$25,530,359
Total Revenue per Form 990
$20,125,230
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$11,548,051
Other Expenses$2,987,859
Salaries, Compensation, and Employee Benefits$681,805
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$11,110,984--$11,110,984
Depreciation Depletion$977,405$34,629-$1,012,034
Other Salaries and Wages-$556,300-$556,300
Foreign Grants$437,067--$437,067
Other Expenses$400,735--$400,735
Fees for Service Investment Mgmnt Fees-$97,097-$97,097
Current Officers, Directors, Trustees, and Key Employees-$90,574-$90,574
Payroll Taxes-$34,931-$34,931
Fees for Services Accounting-$29,750-$29,750
Total Functional Expenses$14,374,434$843,281$0$15,217,715

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$15,267,477
Expenses per Audited Statements$15,217,715
Total Expenses per Form 990$15,217,715
Expenses Not Reported on Form 990$49,762
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Florida State UniversityTallahassee, FL115Research$11,110,984

International Summary

Offices
0
Employees
0
Spending
$437,067

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumGrants to Recipients-00$372,021
North AmericaGrants to Recipients-00$39,896
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumProgram ServicesEfficiency & Technology Research and Archaelogical Dig00$25,150
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Florida State University$6,832,308
Inventors Dptmt. Allocation Payable$1,481,929
Unamortized Premium$921,462
Inventors Royalty Allocation Payable$344,878
Gift Annuity Obligation$225,569

Bond Issues

BondIssuerIssuedIssue PricePurpose
AState of Florida2013-01-01$11,920,000RESEARCH

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$11,920,000$11,920,000$2,335,000-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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

Form 990, Part VI, Section B, Line 11B

Form 990 is reviewed by the director and assistant director. Any issues or questions are resolved with the independent accounting firm that prepares the forms. Upon the approval of director, the return is provided to the board before the return is filed with the irs. Distribution to all board members may be in the form of electronic mail, notification of a link to a website or actual mailing of the document.

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

The board of directors are required to sign a conflict of interest policy annually. Any known or potential conflicts are discussed and resolved with the chairman of the board.

Form 990, Part VI, Section B, Line 15A

All salaries are in a payband based on position level. The cfo has an annual written contract with fsu. The original salary was set by the president of fsu research foundation, and the associate vice president for finance and administration for fsu. Subsequent to that, there is an annual review. Salary increases are provided when the state gives raises, and when approved by the president. The most recent compensation comparison was conducted in 2012.

Form 990, Part VI, Section C, Line 19

The organization's financial statements, bylaws and articles of incorporation are avaialble on the website. Other governing documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Florida State University Research
EIN
59-3211153
Phone
8506448650
Address
2000 LEVY AVENUE SUITE 351, TALLAHASSEE, FL 32310

Signing Officer

Name
DAVID O'KEEFE
Title
Assistant Director
Phone
8506448650
Signed
2017-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary K Ostrander
Formed
1993
Legal Domicile
Fl
Voting Board Members
9
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
James Moore & Co Pl
Address
5931 NW 1ST PLACE, GAINESVILLE, FL 32607-2063
Preparer
Ken Kurdziel
Phone
3523781331
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in annuity value -49,762.

Form 990, Part XII, Line 2C

The process for the selection and supervision of the organization's independent auditor has remained consistent with the prior year.

Financial Statement Notes

PART X, LINE 2:

Pursuant to a determination letter received from the internal revenue service, the research foundation is exempt from federal income tax under section 501(c)(3) of the internal revenue code, and as such is liable for tax only on business income unrelated to the purpose for which it is exempt. No provision for income tax expense or liability has been made in either year presented.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Change in annuity value 49,762.

Raw XML AppendixShowing 400 of 882 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/ActivityOrMissionDesc0TO PROMOTE, ENCOURAGE, AND ASSIST THE RESEARCH AND TRAINING IN ACTIVITIES OF FACULTY, STAFF, AND STUDENTS OF FLORIDA STATE UNIVERSITY (FSU) THROUGH INCOME FROM CONTRACTS, GRANTS, AND OTHER SOURCES.
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IRS990/Form990PartVIISectionAGrp/PersonNm4GARY K OSTRANDER
IRS990/Form990PartVIISectionAGrp/PersonNm5JOSEPH W LANDERS
IRS990/Form990PartVIISectionAGrp/PersonNm6KAY STEPHENSON
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IRS990/Form990PartVIISectionAGrp/PersonNm8RICARDO SCHNEIDER
IRS990/Form990PartVIISectionAGrp/PersonNm9WILLIAM R ELLINGTON
IRS990/Form990PartVIISectionAGrp/PersonNm10KELLY STARKE
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IRS990/Form990PartVIISectionAGrp/PersonNm14DAVID COBURN
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt11EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13FORMER DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14FORMER DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15FORMER OFFICER (CFO)
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IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROMOTE, ENCOURAGE AND FACILITATE THE RESEARCH AND TRAINING ACTIVITIES OF FACULTY, STAFF AND STUDENTS OF THE FLORIDA STATE UNIVERSITY THROUGH INCOME FROM CONTRACTS, GRANTS AND OTHER SOURCES.
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IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/BOYAmt05583914
IRS990/OtherAssetsTotalGrp/EOYAmt05496955
IRS990/OtherChangesInNetAssetsAmt0-49762
IRS990/OtherExpensesGrp/Desc0PATENT & LICENSING COST
IRS990/OtherExpensesGrp/Desc1RENTAL EXPENSES
IRS990/OtherExpensesGrp/Desc2ROYALTY ALLOCATIONS
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$224$66.8$157$19.0$50.8$31.9
2023Detailed filing. Detailed filing data is available for this year.$245$67.7$178$24.2$18.8$5.41
2022Detailed filing. Detailed filing data is available for this year.$238$69.8$168$28.1$14.8$13.3
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$210$27.9$182$24.0$13.1$10.9
2020Detailed filing. Detailed filing data is available for this year.$182$29.0$153$21.8$16.0$5.82
2019Detailed filing. Detailed filing data is available for this year.$179$32.8$147$21.6$15.9$5.70
2018Detailed filing. Detailed filing data is available for this year.$169$29.1$140$47.8$14.2$33.6
2017Detailed filing. Detailed filing data is available for this year.$159$30.5$128$20.1$15.2$4.91
2016Detailed filing. Detailed filing data is available for this year.$148$29.6$118$19.0$16.2$2.83
2015Detailed filing. Detailed filing data is available for this year.$145$29.0$116$22.4$12.6$9.83
2014Detailed filing. Detailed filing data is available for this year.$141$29.0$112$16.4$14.6$1.79
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$135$32.4$103$21.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$141$40.5$101$19.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$148$42.8$105$15.6
Peer Organizations

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