Overview
What is Research Park Corporation?
Research Park Corporation, also known as Nexus Louisiana, is a nonprofit organization situated in Baton Rouge, Louisiana. Their primary mission is to stimulate industrial growth in Baton Rouge and Louisiana as a whole. By providing start-ups with essential business amenities such as office space, furniture, phones, internet access, and a shared conference room, the corporation assists around 40 companies annually. Beyond physical support, they offer counseling in areas like accounting, finance, tax credits, marketing, and public relations. Research Park Corporation also educates start-ups and connects them to community resources through workshops, advisory boards, and a strategic partner network. Their ultimate goal is to nurture high-potential technology-driven companies by offering coaching, capital, and networking opportunities.
Official website here: www.nexusla.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Research Park Corporation has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. With a perfect score in several key areas, the organization demonstrates a robust governance structure, including 100% independent board members, which enhances its credibility and operational integrity.
The financial health of Research Park Corporation is evident with a program expense ratio of 83.36%, indicating that a significant portion of its funds is directed towards its mission-driven activities. The organization follows best practices in transparency and accountability, as reflected in its compliance with various policies and thorough documentation of board meeting minutes.
Despite its strengths, the summary does not highlight any specific limitations or areas for improvement. Overall, Research Park Corporation stands out as a well-managed nonprofit that prioritizes effective use of resources and strong governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is Research Park Corporation legitimate?
Research Park Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Research Park Corporation 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: $160,407
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.nexusla.org
What is the mission statement of Research Park Corporation?
Research Park Corporation was established with the objective of attracting high-potential technology-driven companies to expand in Baton Rouge and Louisiana. Their mission is to accelerate the growth of these companies by offering them essential resources such as coaching, capital, and connections. The organization achieves this by providing start-ups with necessary physical resources like office space, furniture, phones, internet connectivity, and conference rooms. Additionally, Research Park Corporation offers business counseling in areas like accounting, finance, tax credits, marketing, and public relations. They also organize educational workshops, advisory board programs, and leverage their strategic partner network to link start-ups with community resources.
Official website here: www.nexusla.org
Who is the CEO of Research Park Corporation?
Calvin Mills Jr is the CEO of Research Park Corporation The CEO's salary of Research Park Corporation is $175,000 and their total compensation is $175,000.
Official website here: www.nexusla.org
What is the revenue of Research Park Corporation?
Research Park Corporation's revenue in 2023 was $3,200,845.
Official website here: www.nexusla.org
Who are the executives of Research Park Corporation and what are their salaries?
The average compensation at Research Park Corporation during 2023 was $10,694. There are 15 employees and 174 volunteers at Research Park Corporation.
Here are 14 key members and their salaries (Research Park Corporation's CEO's salary is $175,000 and their total compensation is $175,000):
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- Compensation: $175,000
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- Compensation: $189,730
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- Other: $52,122
Official website here: www.nexusla.org
Where can I find the form 990 for Research Park Corporation?
Research Park Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nexusla.org
Learn more at the official website: www.nexusla.org
Mission Statement of Research Park Corporation
Research Park Corporation, a notable organization, was established with the primary objective of drawing industries towards Baton Rouge and the state of Louisiana. Its mission is multi-faceted, aimed at fostering the growth of high-potential technology-driven companies. This is accomplished by offering them essential resources such as coaching, capital, and connections. By providing these services, Research Park Corporation seeks to accelerate the expansion of these companies, thereby contributing to the overall economic development of the region.
To achieve its mission, Research Park Corporation offers a comprehensive suite of support services to start-ups. This includes providing them with the physical necessities needed to establish a business, including office space, furniture, phones, internet connectivity, and access to a shared conference room. Moreover, the organization offers business counseling in various areas, including accounting, finance, tax credits, marketing, and public relations. This guidance is instrumental in helping start-ups navigate the complexities of setting up and running a business.
In addition to these tangible resources, Research Park Corporation also educates start-ups and connects them to local resources. This is done through in-house educational workshops, advisory board programs, and the organization's strategic partner network. By doing so, Research Park Corporation empowers these companies to grow and thrive, ultimately contributing to the broader economic growth of the region.
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Impact
July, 2024
Research Park Corporation's impact is profound in Baton Rouge and the state of Louisiana. By developing a research park and working with around 40 startup companies in 2022, Research Park Corporation has played a key role in attracting industries to the region. Their provision of essential resources like office space, furniture, phones, internet connectivity, and business counseling in areas such as accounting, finance, and marketing has been instrumental in supporting the growth of high-potential technology-enabled companies. Additionally, through educational workshops, advisory board programs, and a strategic partner network, Research Park Corporation is effectively accelerating the growth of startups and linking them to valuable resources in the community. This dedication to fostering innovation and entrepreneurship is helping to drive economic development and create a vibrant business ecosystem in Baton Rouge and Louisiana.
This information is meant to be a general summary of Research Park Corporation. 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: $297,834
- Program Service Revenue: $257,846
- Gross Receipts: $9,085,043
Assets and Liabilities:
- Total Assets: $18,588,963
- Total Liabilities: $329,343
- Net Assets: $18,259,620
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCUBATOR FEES
Revenue
$246,249
OTHER INCOME
Revenue
$11,597
Organization Details
Founding Year
1992
Principal Officer
Calvin Mills
Website
www.nexusla.orgNTEE Category
Code: S30Z - Community improvement
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