Overview
What is Energy And Environmental Research Center Foundation?
The Energy and Environmental Research Center Foundation is a nonprofit organization situated in Grand Forks, North Dakota. Its primary role is to facilitate the commercialization of technologies developed by the Energy and Environmental Research Center (EERC) at the University of North Dakota. With over two decades of experience, the foundation offers customized licensing and equity agreements to help clients gain a competitive edge. The goal is to create spin-off businesses, high-tech jobs, and generate economic growth. The EERC Foundation also invests in the EERC, creating a self-sustaining cycle. Moreover, it incentivizes innovative work at the EERC by sharing at least 30% of the net commercialization income with the inventors. Essentially, the foundation promotes the EERC's market-driven business model, ensuring a smooth transition from technology creation to commercialization, ultimately leading to economic development.
Official website here: www.eercfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
The Energy And Environmental Research Center Foundation has achieved an 88% rating, reflecting strong accountability and financial practices. The score is based entirely on the accountability and finance category, indicating a robust framework for managing funds and ensuring transparency. The foundation has demonstrated excellence in areas such as independent board governance and financial oversight, achieving full marks for its audit and oversight committee.
Strengths noted in the evaluation include a majority of independent board members and an impressive program expense ratio of 97.45%, showing that the vast majority of its resources are directed toward its mission. The foundation also maintains a clear conflict of interest policy and has been transparent with its financial documents, making them readily available on its website.
However, there are areas for improvement, such as the absence of a whistleblower policy and a formal document retention and destruction policy, which received no points in those categories. While these limitations do not significantly detract from the foundation's overall score, addressing them could enhance its governance practices further.
This AI summary has been generated from information found on Charity Navigator.
Is Energy And Environmental Research Center Foundation legitimate?
Energy And Environmental Research Center Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Energy And Environmental Research Center 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.eercfoundation.org
What is the mission statement of Energy And Environmental Research Center Foundation?
The Energy and Environmental Research Center Foundation's mission is to stimulate, inspire, and encourage educational and research initiatives, scientific investigations, technological advancements, commercialization, and related services at the Energy & Environmental Research Center. Their goal is to bridge the gap between the creation of innovative technologies and their successful commercialization, thereby fostering economic growth and job creation. The Foundation provides a supportive infrastructure for commercialization activities, securing development contracts and funding for commercially viable technologies. Inventors involved in commercialized technologies receive a significant share of the net income, incentivizing innovative work at the center. The Foundation serves as a catalyst for the EERC's market-driven business model, ensuring a smooth transition from technology development to commercialization. As of June 30, 2022, the Foundation holds 13 active, issued US patents and 15 patents pending.
Official website here: www.eercfoundation.org
Who is the CEO of Energy And Environmental Research Center Foundation?
Charles Gorecki is the President of Energy And Environmental Research Center Foundation. The CEO's salary of Energy And Environmental Research Center Foundation is $0 and their total compensation is $394,553.
Official website here: www.eercfoundation.org
What is the revenue of Energy And Environmental Research Center Foundation?
Energy And Environmental Research Center Foundation's revenue in 2022 was $5,603,143.
Official website here: www.eercfoundation.org
Who are the executives of Energy And Environmental Research Center Foundation and what are their salaries?
There 11 volunteers at Energy And Environmental Research Center Foundation.
Here are 23 key members and their salaries (Energy And Environmental Research Center Foundation's CEO's salary is $0 and their total compensation is $394,553):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $335,294
- Other: $59,259
- Compensation: $0
- Related: $323,903
- Other: $55,376
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $296,475
- Other: $55,311
- Compensation: $0
- Related: $127,262
- Other: $36,787
- Compensation: $0
- Related: $91,650
- Other: $33,139
- Compensation: $0
- Related: $261,710
- Other: $55,517
- Compensation: $0
- Related: $181,448
- Other: $45,985
- Compensation: $0
- Related: $113,338
- Other: $32,136
- Compensation: $0
- Related: $163,530
- Other: $39,506
- Compensation: $0
- Related: $288,506
- Other: $58,027
- Compensation: $0
- Related: $215,492
- Other: $55,330
- Compensation: $0
- Related: $212,881
- Other: $46,178
- Compensation: $0
- Related: $345,522
- Other: $39,000
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.eercfoundation.org
Where can I find the form 990 for Energy And Environmental Research Center Foundation?
Energy And Environmental Research Center Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.eercfoundation.org
Learn more at the official website: www.eercfoundation.org
Mission Statement of Energy And Environmental Research Center Foundation
The Energy and Environmental Research Center Foundation's mission is centered around promoting, encouraging, and fostering the educational and training services, scientific investigations, technology development, technology commercialization, and other related services of the Energy & Environmental Research Center located in Grand Forks, North Dakota. The foundation's primary objective is to bridge the gap between the research and development phase of technologies created by the Energy & Environmental Research Center and their successful commercialization in the marketplace. By doing so, the EERC Foundation aims to stimulate economic growth and create high-tech and manufacturing jobs that offer competitive salaries.
The EERC Foundation plays a crucial role in providing the necessary infrastructure to support commercialization activities and holds the rights to technologies developed by the Energy & Environmental Research Center. With over two decades of experience in meeting a diverse range of client needs, the foundation has honed innovative approaches to various business arrangements, including tailored licensing and equity agreements that help clients gain a competitive edge. The foundation's commitment to commercialization not only secures work at the Energy & Environmental Research Center through development contracts but also provides funding to assist in the development of commercially viable technology. Moreover, the EERC Foundation invests cash in the Energy & Environmental Research Center, creating a virtuous cycle of economic growth.
In addition, the EERC Foundation offers incentives for innovative work at the Energy & Environmental Research Center. Under the State Board of Higher Education policy, inventors in a commercially successful technology are entitled to at least 30% of the net commercialization income. This support for the Energy & Environmental Research Center's market-driven business model enables a timely and seamless transition between the creation of the technology and its commercialization, ultimately leading to economic development. As of fiscal year end June 30, 2022, the EERC Foundation holds 13 active, issued US patents and 15 patents pending, demonstrating its significant role in commercializing Energy & Environmental Research Center technologies.
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Impact
October, 2024
The Energy and Environmental Research Center Foundation plays a pivotal role in advancing technology from the University of North Dakota's Energy and Environmental Research Center (EERC) into the marketplace. By providing a dedicated infrastructure for commercialization efforts, the foundation facilitates the transition of innovative ideas into viable products and services that can drive economic growth.
With over two decades of experience, the foundation has fostered an adaptive and innovative approach to business arrangements, enabling tailored licensing and equity agreements that enhance clients' competitive positioning. Successful commercialization efforts have led to the creation of spin-off businesses and the generation of high-quality jobs in high-tech and manufacturing sectors.
The foundation's commitment to commercialization not only supports ongoing work at the EERC through development contracts but also plays a crucial role in securing funding for the advancement of commercially viable technologies. This investment creates a cycle of economic growth that benefits both the EERC and the broader community.
Recognizing the value of innovation, the foundation incentivizes researchers by ensuring that inventors receive a significant portion of the financial gains from commercialized technologies. As of mid-2022, the foundation has helped secure 13 active U.S. patents and supports 15 patents pending, underscoring its impact in fostering a culture of innovation.
In short, the Energy and Environmental Research Center Foundation acts as a catalyst for commercialization, driving economic development through the effective translation of research into market-ready solutions.
This information is meant to be a general summary of Energy And Environmental Research Center 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 2022.
- Investment Income: $30,855
- Program Service Revenue: $5,527,288
- Gross Receipts: $5,603,143
Assets and Liabilities:
- Total Assets: $6,183,269
- Total Liabilities: $2,661,980
- Net Assets: $3,521,289
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Research Revenue
Revenue
$5,527,288
Organization Details
Founding Year
1992
Phone
(701) 777-5000Principal Officer
Charles Gorecki
Main Address
15 N 23rd St Stop 9017, Grand Forks, ND, 582029017
Website
www.eercfoundation.orgNTEE Category
Code: T99J - Philanthropy
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