Overview
What is Center For Applied Research & Technology Inc?
Center for Applied Research & Technology Inc, based in Princeton, West Virginia, is a nonprofit organization with a focus on fostering technological innovation. Their mission involves collaborating with technology entrepreneurs to create prototypes, thereby supporting the growth of existing businesses or encouraging new business formation. This initiative aims to contribute to the economic development of the region. The organization's activities include conducting successful technology development programs for industrial sponsors and government agencies, as well as translating STEM (Science, Technology, Art, and Mathematics) into marketable products, processes, systems, and services for their sponsors. With a team of five dedicated individuals, they strive to produce outstanding applied research and generate self-sufficient financial returns.
Official website here: www.cartinc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating.
The Center For Applied Research & Technology Inc has earned a solid Three-Star rating from Charity Navigator, reflecting a 77% score in accountability and finance. This rating highlights the organization’s strong governance practices, such as having 100% independent board members and no material diversion of assets. Additionally, the organization demonstrates itself as financially responsible, with a program expense ratio of 92.06%, indicating that a significant portion of its resources is allocated to its programs.
However, there are areas for improvement noted in the organization’s policies. The lack of a whistleblower policy, which received a score of zero out of four, suggests a gap in protections for individuals reporting concerns within the organization. While the other governance policies, such as conflict of interest and document retention, are well-managed, addressing the missing whistleblower policy could enhance the overall accountability of the organization.
Overall, the Center For Applied Research & Technology Inc shows strengths in transparency and financial management, but it is advisable for potential supporters to consider its governance policies, particularly in bolstering protections for internal reporting.
This AI summary has been generated from information found on Charity Navigator.
Is Center For Applied Research & Technology Inc legitimate?
Center For Applied Research & Technology Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Center For Applied Research & Technology Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $228,650
Professional Fundraising Fees: $0
Other Salaries and Wages: $13,161
For more financial information, click here
Official website here: www.cartinc.com
What is the mission statement of Center For Applied Research & Technology Inc?
The Center for Applied Research & Technology Inc., abbreviated as CART, has a mission to generate outstanding applied research and ensure financial self-sufficiency. They achieve this by successfully executing technology development programs for industrial sponsors and various government agencies. Furthermore, CART translates the fields of Science, Technology, Art, and Mathematics (STEM) into marketable products, processes, systems, and services for its sponsors, thereby contributing to their success.
Official website here: www.cartinc.com
What is the revenue of Center For Applied Research & Technology Inc?
Center For Applied Research & Technology Inc's revenue in 2024 was $708,590.
Official website here: www.cartinc.com
Who are the executives of Center For Applied Research & Technology Inc and what are their salaries?
The average compensation at Center For Applied Research & Technology Inc during 2024 was $48,362. There are 5 employees at Center For Applied Research & Technology Inc.
Here are 5 key members and their salaries:
- Compensation: $152,400
- Related: $0
- Other: $33,102
- Compensation: $76,250
- Related: $0
- Other: $28,848
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.cartinc.com
Where can I find the form 990 for Center For Applied Research & Technology Inc?
Center For Applied Research & Technology Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.cartinc.com
Learn more at the official website: www.cartinc.com
Mission Statement of Center For Applied Research & Technology Inc
The Center for Applied Research & Technology Inc, abbreviated as CART, is committed to achieving two primary objectives. Firstly, it aims to conduct successful technology development programs for various sponsors, including industrial entities and government agencies at the federal, state, and local levels. This initiative is designed to produce outstanding applied research and generate self-sufficient financial returns.
Secondly, CART focuses on translating the disciplines of Science, Technology, Art, and Mathematics (STEM) into marketable products, processes, systems, and services. This transformation process is undertaken specifically for its sponsors. By doing so, CART contributes to the advancement of technology and innovation, leveraging its expertise to create tangible value for its partners.
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Impact
October, 2024
Center For Applied Research & Technology Inc (CART) plays a pivotal role in advancing applied research and technology development. By collaborating with industrial sponsors and government agencies, CART focuses on translating scientific and mathematical principles into innovative, market-ready products and services. This initiative not only fosters technology-based innovation among existing businesses but also encourages the formation of new enterprises, thereby stimulating regional economic growth.
CART's commitment to co-creating prototypes with technology entrepreneurs enhances the local ecosystem for innovation, providing a platform for collaboration and knowledge exchange. Through its successful technology development programs, CART generates self-sufficient financial returns while addressing real-world challenges, positioning itself as a catalyst for both educational initiatives and economic development in Princeton, WV, and beyond. The organization’s impact extends to creating pathways for technological advancements that benefit communities and industries alike.
This information is meant to be a general summary of Center For Applied Research & Technology Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $41,258
- Program Service Revenue: $271,845
- Gross Receipts: $708,590
Assets and Liabilities:
- Total Assets: $1,791,145
- Total Liabilities: $8,512
- Net Assets: $1,782,633
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACTS
Revenue
$271,845
Organization Details
Founding Year
2003
Principal Officer
Bruce V Mutter
Website
www.cartinc.comNTEE Category
Code: B990 - Education
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