Civic Intelligence

Texas Research and Technology Foundation

990 • Fiscal year 2016 • EIN 74-2311260

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 15, 2017

12001 NETWORK BLVD Suite STE 310San Antonio, TX 78249

(210) 558-4696

Siviq Scores

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

Liabilities / Assets

15th percentile

0.01x

Higher debt load relative to assets than 15% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

49th percentile

0.24x

Higher debt load relative to revenue than 49% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

6th percentile

-53%

Higher net margin than 6% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

71st percentile

$247,532

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 16.9% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

42nd percentile

0.1%

Faster asset growth than 42% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-88%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$24,698,653

Up $35,746 (+0.1%) from 2015

Net Assets

Up

$24,353,551

Up $93,228 (+0.4%) from 2015

Liabilities

Down

$345,102

Down $57,482 (-14%) from 2015

Revenue

Down

$1,460,427

Down $11,185,758 (-88%) from 2015

Expenses

Down

$2,237,796

Down $810,407 (-27%) from 2015

Net Income

Down

-$777,369

Down $10,375,351 (-108%) from 2015

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $18,872,726Liabilities 2010: $2,062,137Net Assets 2010: $16,810,5892010Assets 2011: $17,550,238Liabilities 2011: $1,418,503Net Assets 2011: $16,131,7352011Assets 2012: $17,640,488Liabilities 2012: $1,010,560Net Assets 2012: $16,629,9282012Assets 2013: $16,947,075Liabilities 2013: $1,057,256Net Assets 2013: $15,889,8192013Assets 2014: $16,520,240Liabilities 2014: $1,857,899Net Assets 2014: $14,662,3412014Assets 2015: $24,662,907Liabilities 2015: $402,584Net Assets 2015: $24,260,3232015Assets 2016: $24,698,653Liabilities 2016: $345,102Net Assets 2016: $24,353,5512016Assets 2017: $25,847,922Liabilities 2017: $1,932,181Net Assets 2017: $23,915,7412017Assets 2018: $22,133,231Liabilities 2018: $2,007,274Net Assets 2018: $20,125,9572018Assets 2019: $39,375,862Liabilities 2019: $21,409,757Net Assets 2019: $17,966,1052019Assets 2020: $45,618,455Liabilities 2020: $14,979,342Net Assets 2020: $30,639,1132020Assets 2021: $53,094,822Liabilities 2021: $19,445,996Net Assets 2021: $33,648,8262021Assets 2022: $59,424,466Liabilities 2022: $20,390,604Net Assets 2022: $39,033,8622022Assets 2023: $68,163,786Liabilities 2023: $20,292,751Net Assets 2023: $47,871,0352023Assets 2024: $74,186,483Liabilities 2024: $30,919,564Net Assets 2024: $43,266,9192024

Highlighted filing

2016

Assets$24,698,653
Liabilities$345,102
Net Assets$24,353,551

Operations Trend

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

$20M$10M$0-$10MExpenses 2010: $2,126,4962010Expenses 2011: $1,344,4622011Expenses 2012: $2,273,3922012Revenue 2013: $1,395,441Expenses 2013: $2,206,980Net Income 2013: -$811,5392013Revenue 2014: $1,521,651Expenses 2014: $2,725,083Net Income 2014: -$1,203,4322014Revenue 2015: $12,646,185Expenses 2015: $3,048,203Net Income 2015: $9,597,9822015Revenue 2016: $1,460,427Expenses 2016: $2,237,796Net Income 2016: -$777,3692016Revenue 2017: $1,521,740Expenses 2017: $2,421,169Net Income 2017: -$899,4292017Revenue 2018: $1,737,468Expenses 2018: $4,095,542Net Income 2018: -$2,358,0742018Revenue 2019: $10,734,374Expenses 2019: $12,894,226Net Income 2019: -$2,159,8522019Revenue 2020: $18,690,276Expenses 2020: $6,067,268Net Income 2020: $12,623,0082020Revenue 2021: $7,628,326Expenses 2021: $4,588,641Net Income 2021: $3,039,6852021Revenue 2022: $7,515,026Expenses 2022: $6,336,369Net Income 2022: $1,178,6572022Revenue 2023: $15,033,092Expenses 2023: $4,773,660Net Income 2023: $10,259,4322023Revenue 2024: $2,532,193Expenses 2024: $4,659,827Net Income 2024: -$2,127,6342024

Highlighted filing

2016

Revenue$1,460,427
Expenses$2,237,796
Net Income-$777,369
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 15, 2017
Return Version
2016v3.1
Gross Receipts
$1,540,787
Mission and Program Overview

Mission

Texas research and technology foundation (trtf) is san antonios champion for delivering sustainable economic and community growth. See schedule o for additional information.

The organization's primary mission is to build a world-class center of bio-science research, medical education and job creation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,883,756$9,842,880▼ $1,040,876
Investments Other Securities$764,046$9,263,415▲ $8,499,369
Savings and Temporary Cash Investments$1,080,820$1,656,806▲ $575,986
Investments Program Related$552,584$1,102,584▲ $550,000
Inventories for Sale or Use$0$800,982▲ $800,982
Cash and Non-Interest-Bearing Accounts$11,103,372$241,538▼ $10,861,834
Accounts Receivable$162,515$147,254▼ $15,261
Pledges and Grants Receivable$50,000$0▼ $50,000
Prepaid Expenses and Deferred Charges$25,282$27,325▲ $2,043
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$24,662,907$24,698,653▲ $35,746
Other Assets Total$40,532$1,615,869▲ $1,575,337
Liabilities
Accounts Payable and Accrued Expenses$381,133$329,722▼ $51,411
Other Liabilities$14,280$15,380▲ $1,100
Deferred Revenue$7,171$0▼ $7,171
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$402,584$345,102▼ $57,482
Net Assets / Fund Balance
Unrestricted Net Assets$23,985,323$24,353,551▲ $368,228
Temporarily Rstr Net Assets$275,000$0▼ $275,000
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$24,260,323$24,353,551▲ $93,228
Total Liabilities and Net Assets / Fund Balance$24,662,907$24,698,653▲ $35,746

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,690,534$4,124,570$7,815,104
Land$6,134,203-$6,134,203
Equipment$18,143$250,998$269,141
Other Assets Org$1,572,925--
Other Securities$8,585,781--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John York DuncanPresident and CEOFT$165,148$82,384$247,532

Highest Paid Contractors

ContractorServicesLocationCompensation
Norton Rose Fullbright US LLPLegal Services300 CONVENT STREET STE 2100, San Antonio, TX 78205$231,963
Revenue and Support

Revenue Composition

Contributions and Grants
$592,521
Program Service Revenue
$490,140
Investment Income
$263,052
Other Revenue
$114,714
All Other Contributions
$348,944
Change in Net Assets
$-777,369

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,460,427
Revenue Not Reported on Form 990
$870,597
Total Revenue per Audited Statements
$2,331,024
Total Revenue per Form 990
$1,460,427
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,454,493
Salaries, Compensation, and Employee Benefits$567,491
Grants and Similar Amounts Paid$215,812
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$101,369$146,163-$247,532
Depreciation Depletion$100,631$145,098-$245,729
Other Salaries and Wages$99,895$144,038-$243,933
Fees for Services Legal-$237,141-$237,141
Occupancy$95,834$138,183-$234,017
Grants to Domestic Orgs$215,812--$215,812
Office Expenses$66,292$95,586-$161,878
Fees for Services Other$31,869$45,951-$77,820
Other Employee Benefits$23,555$33,964-$57,519
Fees for Services Accounting-$34,620-$34,620
Insurance-$31,406-$31,406
Other Expenses$11,102$16,007-$27,109
Payroll Taxes$7,579$10,928-$18,507
All Other Expenses$7,408$10,682-$18,090
Advertising-$17,497-$17,497
Information Technology$3,530$5,090-$8,620
Conferences and Meetings-$1,038-$1,038
Total Functional Expenses$912,110$1,325,686$0$2,237,796

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,237,796
Total Expenses per Audited Statements$2,237,796
Total Expenses per Form 990$2,237,796
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
UthscaSan Antonio, TX501(c)(3)In Memory of Glenn Biggs, Form Trtf Board Member$50,000
Texas Biomedical Research InstituteSan Antonio, TX501(c)(3)Support for Biomedical Research$10,000
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
Security Deposits$15,380
Governance and Compliance

Governance Checklist

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

Governance Explanations

Part VI, Line 11B - Process to Review the Form 990

An outside accounting firm prepares and files the organization's form 990. Management conducts a review of the draft and provides it to executive committee for review. The final draft is provided to the entire board for review and approval.

Part VI, Line 12C - Monitoring the Conflict of Interest Policy

The policy is included in the employee policy manual and is applicable to the board of trustees. The executive committee, along with the president and ceo, monitors for compliance and reviews any potential or actual conflicts. Any member of the governing body that has a conflict of interest on a particular matter is required to abstain from voting on that matter.

Part VI, Line 15A - Review of Top Management Compensation

A thorough review is conducted and performed in conjunction with the annual bonuses awarded at year end by the board of trustees. The review is recorded in the meeting minutes.

Part VI, Line 15B - Review of Other Compensation

Texas research and technology foundation does not provide compensation to any other officers.

Part VI, Line 19 - How Documents Are Made Available to the Public

The form 990, financial statements, and other documents will be provided upon request to the public.

Part VI, Line 1A - Delegation to Executive Committee

The texas research and technology foundation delegated authority to act on its behalf to an executive committee.

Filing and Contact Details

Filer

Filer Name
Texas Research and Technology Foundation
EIN
74-2311260
In Care Of
% DORA ANN VERDE
Phone
2105584696
Address
12001 NETWORK BLVD Suite STE 310, SAN ANTONIO, TX 78249

Signing Officer

Name
John York Duncan
Title
President
Phone
2103419400
Signed
2017-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John York Duncan
Formed
1984
Legal Domicile
TX
Voting Board Members
34
Independent Board Members
34
Employees
5
Volunteers
35

Preparer

Firm
Bkd Llp
Address
10001 REUNION PLACE SUITE 400, SAN ANTONIO, TX 78216-4137
Preparer
John R Bruce CPA
Phone
2103419400
Supplemental Narrative

Financial Statement Notes

Part X, Line 2 - Asc 740 Footnote

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Raw XML AppendixShowing 400 of 866 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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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$74.2$30.9$43.3$2.53$4.66$2.13
2023Detailed filing. Detailed filing data is available for this year.$68.2$20.3$47.9$15.0$4.77$10.3
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.4$20.4$39.0$7.52$6.34$1.18
2021Detailed filing. Detailed filing data is available for this year.$53.1$19.4$33.6$7.63$4.59$3.04
2020Detailed filing. Detailed filing data is available for this year.$45.6$15.0$30.6$18.7$6.07$12.6
2019Detailed filing. Detailed filing data is available for this year.$39.4$21.4$18.0$10.7$12.9$2.16
2018Detailed filing. Detailed filing data is available for this year.$22.1$2.01$20.1$1.74$4.10$2.36
2017Detailed filing. Detailed filing data is available for this year.$25.8$1.93$23.9$1.52$2.42$0.90
2016Detailed filing. Detailed filing data is available for this year.$24.7$0.35$24.4$1.46$2.24$0.78
2015Detailed filing. Detailed filing data is available for this year.$24.7$0.40$24.3$12.6$3.05$9.60
2014Detailed filing. Detailed filing data is available for this year.$16.5$1.86$14.7$1.52$2.73$1.20
2013Detailed filing. Detailed filing data is available for this year.$16.9$1.06$15.9$1.40$2.21$0.81
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.6$1.01$16.6$2.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.6$1.42$16.1$1.34
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.9$2.06$16.8$2.13