Overview
What is Ndsu Research & Technology Park?
Ndsu Research & Technology Park is a nonprofit organization situated in Fargo, North Dakota, with a focus on fostering public-private partnerships and advancing research and technology development. They primarily serve to promote entrepreneurship and innovation, offering coaching, mentoring, and networking events at their Technology Incubator. In 2014, they took on the role of administrator for the State of North Dakota Department of Commerce Innovate ND program, helping businesses develop business plans and secure funding. Additionally, they collaborate with the North Dakota Small Business Development Center to organize conferences on financing and provide support to incubator clients. The organization is currently developing a cutting-edge makerspace, the NDSU Innovation Studio, to connect students, faculty, and private sector companies in creating innovative products. The studio officially opened in January 2023 and includes areas for metalworking, woodworking, digital fabrication, electronics prototyping, and textiles. Since 2008, Ndsu Research & Technology Park has also invested in NDSU Research Park Ventures, LLC, a renaissance fund corporation for the City of Fargo, aiming to encourage technology-based entrepreneurial business development.
Official website here: www.ndsuresearchpark.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Star Rating)
NDSU Research & Technology Park has received a commendable Four-Star rating from Charity Navigator, reflecting its strong emphasis on accountability and financial management. The organization scored 93% in this category, indicating a well-managed nonprofit that prioritizes transparency and effective governance. The rating is particularly noteworthy as it derives entirely from a single beacon score focused on Accountability & Finance.
The strengths of NDSU Research & Technology Park include a fully independent board of members, meeting all criteria for independence and size. Additionally, the organization has shown a commitment to best practices in financial oversight, as evidenced by its perfect scores in areas such as conflict of interest policies and audit practices. With a program expense ratio of 80.31%, the majority of its funding is directed towards its mission-related activities, which enhances its credibility as a nonprofit entity.
However, a minor limitation noted is the liabilities to assets ratio, which stands at 54.34%. While this is still a solid figure, it suggests that the organization could benefit from a closer examination of its financial leverage. Overall, NDSU Research & Technology Park demonstrates strong operational integrity and a commitment to serving its purpose effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Ndsu Research & Technology Park legitimate?
Ndsu Research & Technology Park is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ndsu Research & Technology Park 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: $162,196
Professional Fundraising Fees: $0
Other Salaries and Wages: $226,728
For more financial information, click here
Official website here: www.ndsuresearchpark.com
What is the mission statement of Ndsu Research & Technology Park?
The NDSU Research and Technology Park's mission is to foster successful technology-driven entrepreneurship and high-tech businesses. This is achieved by leveraging the research conducted at North Dakota State University. The park aims to create new business ventures and broaden the economic base of North Dakota. It accomplishes this by forming partnerships with international, national, and regional centers of excellence, high-tech businesses, and the research community at NDSU. The park also promotes scientific and technological advancement by developing facilities and research centers that cater to cutting-edge research. Furthermore, an innovation accelerator unit is established to provide space, facilities, and services to technology-based entrepreneurs and businesses.
Official website here: www.ndsuresearchpark.com
Who is the CEO of Ndsu Research & Technology Park?
Jan Sobolik is the President of Ndsu Research & Technology Park.
Official website here: www.ndsuresearchpark.com
What is the revenue of Ndsu Research & Technology Park?
Ndsu Research & Technology Park's revenue in 2023 was $2,124,543.
Official website here: www.ndsuresearchpark.com
Who are the executives of Ndsu Research & Technology Park and what are their salaries?
The average compensation at Ndsu Research & Technology Park during 2023 was $64,821. There are 6 employees and 12 volunteers at Ndsu Research & Technology Park.
Here are 13 key members and their salaries:
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- Compensation: $97,962
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- Compensation: $100,109
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- Other: $20,473
Official website here: www.ndsuresearchpark.com
Where can I find the form 990 for Ndsu Research & Technology Park?
Ndsu Research & Technology Park's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ndsuresearchpark.com
Learn more at the official website: www.ndsuresearchpark.com
Mission Statement of Ndsu Research & Technology Park
The NDSU Research & Technology Park's mission is centered around fostering successful technology-driven entrepreneurship and the growth of high-tech businesses. By leveraging the research capabilities of North Dakota State University and establishing partnerships with international, national, and regional centers of excellence, the Park aims to stimulate technological advancement. The Park serves as a bridge between high-tech businesses and the research community at NDSU, promoting the development of innovative facilities and research centers that cater to cutting-edge research.
To further support technology-based entrepreneurs and businesses, NDSU Research & Technology Park has established an innovation accelerator unit. This unit provides essential resources, including space, facilities, and services, to nurture the growth of technology-driven start-ups. By offering these resources, the Park contributes to the creation of new business ventures, thereby broadening the economic base of North Dakota. The Park's mission is rooted in the belief that scientific and technological advancement is key to driving economic development and creating a diverse and thriving economy.
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Impact
July, 2024
The NDSU Research & Technology Park has a significant impact on promoting technology-based economic growth in North Dakota. Through partnerships with high-tech businesses and North Dakota State University, the park facilitates innovation and entrepreneurship, leading to the creation of new business ventures. The park provides valuable resources such as coaching, mentoring services, networking events, and access to funding programs like the Innovate ND program. Additionally, the development of the NDSU Innovation Studio and the investment in NDSU Research Park Ventures, LLC contribute to creating a supportive environment for cutting-edge research and technology development. Overall, the park's activities aim to enhance investments in North Dakota State University, advance scientific and technological advancements, and broaden the economic base of North Dakota.
This information is meant to be a general summary of Ndsu Research & Technology Park. 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: $471,014
- Program Service Revenue: $1,072,809
- Gross Receipts: $2,124,543
Assets and Liabilities:
- Total Assets: $18,723,525
- Total Liabilities: $10,174,771
- Net Assets: $8,548,754
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Facility Rentals
Revenue
$983,120
Other Supporting Reven
Revenue
$40,205
Management Fee Income
Revenue
$25,000
Subsidiary Income
Revenue
$24,484
Organization Details
Founding Year
1999
Phone
(701) 499-3600Principal Officer
Jan Sobolik
Main Address
1854 NDSU Research Circle N, Fargo, ND, 58102
Website
www.ndsuresearchpark.comNTEE Category
Code: U300 - Science research
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