Overview
What is Norfolk State University Research And Innovation Foundation?
The Norfolk State University Research and Innovation Foundation, located at 700 Park Avenue BMH A-105, Norfolk, Virginia 23504, is a nonprofit organization with a mission to foster applied research and technological innovations. It aims to contribute positively to the economic strength of the Hampton Roads region and the Commonwealth of Virginia. Specifically, the foundation supports Norfolk State University students by providing relevant brands and services. Its activities are geared towards promoting advancements in research and technology, ultimately benefiting the local and state economy.
Official website here: www.nsurif.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Norfolk State University Research And Innovation Foundation has received an 81% rating, indicating a solid performance in accountability and finance. This score is derived from its robust governance structure, including a board composed of 87% independent members and comprehensive financial oversight mechanisms that demonstrate transparency and commitment to ethical management.
The organization excels in several key areas, such as having no material diversion of assets and maintaining well-documented policies regarding conflict of interest, whistleblower protections, and document retention. Its high program expense ratio of 86.14% reflects its dedication to utilizing funds effectively towards its mission, ensuring that a significant portion of its resources directly supports its initiatives.
However, a notable limitation is the liabilities to assets ratio, which scored poorly at 0 out of 15 points. This suggests potential concerns regarding the organization's financial stability or health, which could affect its operations in the long run. Overall, while the foundation shows strong accountability practices, attention to its financial liabilities is recommended for sustained effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Norfolk State University Research And Innovation Foundation legitimate?
Norfolk State University Research And Innovation Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Norfolk State University Research And Innovation 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: $179,471
Professional Fundraising Fees: $0
Other Salaries and Wages: $293,510
For more financial information, click here
Official website here: www.nsurif.org
What is the mission statement of Norfolk State University Research And Innovation Foundation?
The Norfolk State University Research and Innovation Foundation's mission is centered around promoting applied research and technological innovations. This initiative aims to contribute positively to the economic strength of the Hampton Roads region and the Commonwealth of Virginia. The foundation provides brands and services that facilitate such research and innovations, ultimately serving to enhance the overall economic growth.
Official website here: www.nsurif.org
Who is the CEO of Norfolk State University Research And Innovation Foundation?
Cornelius C Graves is the Board Member of Norfolk State University Research And Innovation Foundation.
Official website here: www.nsurif.org
What is the revenue of Norfolk State University Research And Innovation Foundation?
Norfolk State University Research And Innovation Foundation's revenue in 2023 was $6,046,806.
Official website here: www.nsurif.org
Who are the executives of Norfolk State University Research And Innovation Foundation and what are their salaries?
There 7 volunteers at Norfolk State University Research And Innovation Foundation.
Here are 8 key members and their salaries:
- Compensation: $179,470
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- Other: $0
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Official website here: www.nsurif.org
Where can I find the form 990 for Norfolk State University Research And Innovation Foundation?
Norfolk State University Research And Innovation Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nsurif.org
Learn more at the official website: www.nsurif.org
Mission Statement of Norfolk State University Research And Innovation Foundation
The Norfolk State University Research and Innovation Foundation is dedicated to fulfilling a crucial mission. This mission involves offering brands and services that foster applied research and technological innovations. These initiatives aim to contribute positively to the economic strength of the Hampton Roads region and the Commonwealth of Virginia as a whole. By promoting research and innovation, the foundation seeks to make a significant impact on its surrounding community. The foundation's activities focus on harnessing the power of applied research and technological advancements to enhance the region's economy.
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Impact
July, 2024
Norfolk State University Research And Innovation Foundation's impact lies in providing brands and services that promote applied research and technological innovations, which contribute positively to the economic strength of the Hampton Roads region and the Commonwealth of Virginia. The foundation supports student housing for Norfolk State University students and focuses on community improvement. Through its mission to foster research and innovation, the foundation plays a significant role in driving economic development and enhancing opportunities for both students and the surrounding community.
This information is meant to be a general summary of Norfolk State University Research And Innovation 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: $100,547
- Gross Receipts: $6,222,576
Assets and Liabilities:
- Total Assets: $25,804,421
- Total Liabilities: $24,632,566
- Net Assets: $1,171,855
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Organization Details
Founding Year
2001
Phone
(757) 823-9065Principal Officer
Cornelius C Graves
Main Address
700 PARK AVENUE BMH A-105 410, NORFOLK, VA, 23504
Website
www.nsurif.orgNTEE Category
Code: S43 - Community improvement
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