Overview
What is The University Of Memphis Research Foundation?
The University of Memphis Research Foundation is a nonprofit organization located in Memphis, Tennessee, serving as a 501(c)(3) entity for the university. Its primary purpose is to facilitate and manage sponsored research and educational activities on behalf of the university's faculty and staff. The foundation currently oversees 14 active projects, funded by 1 unique sponsor, and manages several patents generated through research. By acting as an intermediary, the foundation enables faculty and staff to apply for grants from sponsors requiring a 501(c)(3) organization and to contract with sponsors that cannot comply with Tennessee laws. Additionally, for non-cost-reimbursable program services funded by multiple sponsors, the foundation maintains separate accounting records, reducing the administrative burden on the university's accounting staff. The foundation's mission is twofold: encouraging, promoting, and aiding the fulfillment of education, research, and service functions at the University of Memphis (U of M), as well as aiding the transfer of technology generated from research conducted by U of M faculty, staff, and students.
Official website here: www.umrfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 90% - Four-Star out of Four Star Rating
The University of Memphis Research Foundation has received an impressive Four-Star rating from Charity Navigator, reflecting strong performance in accountability and finance. With a score of 90%, the foundation demonstrates a robust commitment to financial transparency and responsible management of its resources, as evidenced by a high program expense ratio of 94.36%, indicating that a significant portion of its funds is directed towards its mission-related programs.
The foundation's governance structure shows a majority of independent board members, which enhances its accountability. The board is composed of 8 independent members, and there are no reported issues regarding the material diversion of assets. However, the absence of a whistleblower policy and a document retention policy are noted as limitations, which could be areas for improvement in ensuring comprehensive governance practices.
Overall, The University of Memphis Research Foundation stands out for its financial efficiency and commitment to accountability, although addressing the identified governance gaps could further enhance its operational integrity and trustworthiness among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is The University Of Memphis Research Foundation legitimate?
The University Of Memphis Research Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The University Of Memphis Research Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.umrfoundation.org
What is the mission statement of The University Of Memphis Research Foundation?
The University of Memphis Research Foundation's mission is to encourage, promote, and aid the educational, research, and service functions of the University of Memphis (U of M). Additionally, it seeks to facilitate the transfer of technology generated through research by U of M faculty, staff, and students. The foundation supports various educational and service activities, administered on behalf of U of M faculty and staff, through sponsored research. It also manages several patents and offers benefits to the university, such as enabling faculty and staff to apply for grants from sponsors requiring a 501(c)(3) organization, and allowing them to contract with sponsors that cannot comply with TN laws for university contracts.
Official website here: www.umrfoundation.org
What is the revenue of The University Of Memphis Research Foundation?
The University Of Memphis Research Foundation's revenue in 2024 was $2,469,897.
Official website here: www.umrfoundation.org
Who are the executives of The University Of Memphis Research Foundation and what are their salaries?
Here are 15 key members and their salaries:
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- Related: $307,260
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Official website here: www.umrfoundation.org
Where can I find the form 990 for The University Of Memphis Research Foundation?
The University Of Memphis Research Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.umrfoundation.org
Learn more at the official website: www.umrfoundation.org
Mission Statement of The University Of Memphis Research Foundation
The University of Memphis Research Foundation exists to encourage, promote, and aid the fulfillment of educational, research, and service functions of the University of Memphis (U of M). Beyond this primary purpose, the foundation also seeks to facilitate the transfer of technology generated during research by U of M faculty, staff, and students. In essence, the foundation serves as a bridge, connecting the university's academic and research endeavors with potential sponsors and partners, thereby providing additional opportunities for growth and innovation.
By assuming this role, the foundation offers various benefits to the university. One such advantage is enabling faculty and staff to apply for grants from sponsors whose eligibility criteria require a 501(c)(3) organization. This provision expands the university's funding opportunities, potentially securing additional resources for its research and educational projects.
Furthermore, the foundation allows faculty and staff to contract with sponsors that cannot accept Tennessee laws (required for university contracts). This flexibility accommodates partnerships with organizations based in other states or regions, thereby broadening the university's collaborative network and expanding its influence in the academic and research communities.
In conclusion, the University of Memphis Research Foundation serves a vital function in supporting and expanding the university's educational, research, and service activities. By acting as a conduit for grant applications and contractual agreements, the foundation enables the U of M to access a wider range of funding sources and collaborative opportunities, thereby fostering innovation and growth within the academic community.
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Impact
October, 2024
The University of Memphis Research Foundation significantly enhances the educational and research capabilities of the University of Memphis (U of M). By promoting and supporting various educational, research, and service initiatives, it plays a vital role in the academic ecosystem.
The foundation facilitates faculty and staff access to grants from sponsors requiring a 501(c)(3) organization, thereby opening avenues for funding that might otherwise be unavailable. Additionally, it enables contractual relationships with sponsors who cannot comply with Tennessee laws applicable to university contracts, expanding collaborative opportunities for research and service projects.
With 14 active program service projects, the foundation effectively administers and manages sponsored research activities, resulting in streamlined operations that minimize the administrative burden on university accounting staff. It also oversees several patents, further supporting the transfer of technology developed through rigorous research by faculty, staff, and students.
Overall, the University of Memphis Research Foundation fortifies the institution's mission by fostering innovation, enhancing educational offerings, and supporting impactful research that benefits the wider community.
This information is meant to be a general summary of The University Of Memphis Research Foundation. 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: $104,602
- Program Service Revenue: $150,755
- Gross Receipts: $2,492,211
Assets and Liabilities:
- Total Assets: $4,827,142
- Total Liabilities: $1,212,180
- Net Assets: $3,614,962
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESEARCH PARK
Revenue
$150,755
Organization Details
Founding Year
2006
Principal Officer
Jasbir Dhaliwal
Website
www.umrfoundation.orgNTEE Category
Code: B19 - Education
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