Overview
What is The Penn State Research Foundation?
The Penn State Research Foundation, located in University Park, Pennsylvania, is a nonprofit organization that plays a crucial role in fostering innovation at Pennsylvania State University. Its primary objective is to protect and commercialize the university's inventions, ensuring they benefit society. The Foundation manages the licensing of intellectual property, pays incentive awards to inventors, and shares royalties. Additionally, it provides financial support for scientific and engineering research at the university through grant issuances, contributing to the advancement of knowledge and technology.
Official website here: www.psu.edu
Is The Penn State Research Foundation legitimate?
The Penn State Research Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Penn State 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.psu.edu
What is the mission statement of The Penn State Research Foundation?
The Penn State Research Foundation's mission is centered around protecting and commercializing the inventions developed at The Pennsylvania State University. It accomplishes this by seeking patent protection for these inventions and exploring their potential uses. Furthermore, the Foundation provides financial support for scientific and engineering research at the university through grant distributions. The Foundation's activities also involve incentive awards for inventors and the sharing of royalty payments. Overall, its goal is to foster and promote innovation and research within the academic community.
Official website here: www.psu.edu
What is the revenue of The Penn State Research Foundation?
The Penn State Research Foundation's revenue in 2023 was $5,655,375.
Official website here: www.psu.edu
Who are the executives of The Penn State Research Foundation and what are their salaries?
Here are 18 key members and their salaries:
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- Related: $1,378,476
- Other: $56,534
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- Other: $55,924
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- Related: $461,215
- Other: $43,054
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- Related: $303,881
- Other: $48,611
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- Related: $240,702
- Other: $47,885
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- Related: $224,158
- Other: $20,658
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- Related: $139,851
- Other: $11,653
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Official website here: www.psu.edu
Where can I find the form 990 for The Penn State Research Foundation?
The Penn State Research Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.psu.edu
Learn more at the official website: www.psu.edu
Mission Statement of The Penn State Research Foundation
The Penn State Research Foundation is committed to safeguarding and maximizing the value of inventions developed at The Pennsylvania State University. This nonprofit organization pursues patent protection for these inventions and works to commercialize them, thereby generating revenue. Moreover, the Foundation also provides financial aid in the form of grants to bolster scientific and engineering research within the university. The Penn State Research Foundation's activities are geared towards fostering an environment that encourages innovation and nurtures groundbreaking discoveries, ultimately contributing to the advancement of knowledge and society at large.
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Impact
October, 2024
The Penn State Research Foundation plays a crucial role in fostering innovation and advancing scientific and engineering research at The Pennsylvania State University. By actively seeking patent protection and leveraging the university's inventions, the Foundation enhances the commercialization of intellectual property, ensuring that groundbreaking ideas transition from the lab to the marketplace.
In addition to its licensing activities, the Foundation supports researchers by issuing grants, promoting an ecosystem that encourages creativity and practical application of academic discoveries. Its work not only benefits individual inventors through incentive awards and royalty sharing but also positions Penn State as a leader in research initiatives, ultimately contributing to advancements in technology and education. The Foundation's efforts have a far-reaching impact, driving economic growth and enriching the academic environment at Penn State.
This information is meant to be a general summary of The Penn State 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 2023.
- Investment Income: $203,925
- Program Service Revenue: $3,931,328
- Gross Receipts: $5,655,375
Assets and Liabilities:
- Total Assets: $8,344,737
- Total Liabilities: $1,902,063
- Net Assets: $6,442,674
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Patent Cost Reimburse
Revenue
$634,011
Patent Royalties
Revenue
$3,297,317
Organization Details
Founding Year
1934
Principal Officer
Virginia A Teachey
Website
www.psu.eduNTEE Category
Code: B99 - Education
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