Overview
What is Ut-Battelle Development Corporation?
Ut-Battelle Development Corporation is a publicly-benefitting, not-for-profit organization based in Oak Ridge, Tennessee. Established with the primary purpose of managing scientific facilities and supporting ORNL in providing research institutions, their mission is dedicated to this mission. Ut-Battelle Development Corporation is a cornerstone in the scientific community, overseeing the operational aspects of various research facilities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Ut-Battelle Development Corporation received a two-star rating from Charity Navigator, indicating a need for improvement in its accountability and finance practices. The overall score of 62% reflects concerns regarding governance, particularly the lack of independent board members and insufficient conflict of interest and whistleblower policies. These factors suggest a potential risk in maintaining transparency and accountability within the organization.
Despite these governance challenges, Ut-Battelle shows strengths in its financial oversight, with a full score on its audit and oversight committee practices and a strong program expense ratio. This indicates that the organization effectively allocates funds towards its programs, which is a positive aspect for potential donors and stakeholders interested in the organization's mission.
However, the organization faces significant limitations in transparency, as noted by its low scores in areas such as having its tax form posted on its website and document retention policies. These limitations could impact stakeholder trust and may hinder the organization's ability to attract support and funding in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Ut-Battelle Development Corporation legitimate?
Ut-Battelle Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ut-Battelle Development 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Ut-Battelle Development Corporation?
Ut-Battelle Development Corporation is a not-for-profit organization dedicated to managing scientific facilities for research purposes. Based in Oak Ridge, Tennessee, the Corporation's mission revolves around effectively overseeing scientific establishments. The primary focus is to ensure the smooth operation of research facilities, with the ultimate goal of advancing scientific knowledge and discovery. The Corporation's role extends beyond mere management, as it also supports the provision of these facilities to further scientific progress.
Who is the CEO of Ut-Battelle Development Corporation?
Andrew Petzold is the Chair of Ut-Battelle Development Corporation.
What is the revenue of Ut-Battelle Development Corporation?
Ut-Battelle Development Corporation's revenue in 2022 was $23,986,732.
Who are the executives of Ut-Battelle Development Corporation and what are their salaries?
Here are 9 key members and their salaries:
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- Related: $658,930
- Other: $15,667
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- Other: $12,868
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- Related: $234,667
- Other: $17,024
Where can I find the form 990 for Ut-Battelle Development Corporation?
Ut-Battelle Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ut-Battelle Development Corporation
Ut-Battelle Development Corporation, a public benefit not-for-profit organization, is dedicated to the mission of managing scientific facilities. Based in Oak Ridge, Tennessee, this corporation was established to support the oversight of research facilities in conjunction with Oak Ridge National Laboratory (ORNL). With a focus on scientific management, Ut-Battelle Development Corporation plays a significant role in ensuring the smooth operation of the research facilities under its care.
In simpler terms, Ut-Battelle Development Corporation serves as the steward of scientific research institutions, employing its expertise to maintain and manage these facilities effectively. The organization's primary goal is to foster an environment conducive to scientific advancements by managing the day-to-day operations and upkeep of the research facilities. By taking on this responsibility, Ut-Battelle Development Corporation enables researchers and scientists to focus on their groundbreaking work.
Furthermore, this not-for-profit organization plays a crucial role in the scientific community by providing essential support to research facilities. By managing these institutions, Ut-Battelle Development Corporation ensures that they have the necessary resources and infrastructure to thrive. This commitment to scientific management allows researchers to make important discoveries and contribute to the advancement of knowledge in various fields.
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Impact
October, 2024
Ut-Battelle Development Corporation plays a crucial role in the management of scientific facilities, particularly through its stewardship of Oak Ridge National Laboratory (ORNL). By overseeing the operational framework that supports cutting-edge research, Ut-Battelle fosters innovation and facilitates scientific advancements across various disciplines.
Its impact is seen in the promotion of research initiatives that contribute to technological breakthroughs and scientific knowledge, essential for addressing global challenges. The corporation supports a collaborative environment, allowing researchers to access state-of-the-art facilities and resources essential for their work.
Located in Oak Ridge, TN, Ut-Battelle is committed to enhancing the effectiveness and efficiency of ORNL, driving forward initiatives that encapsulate its mission of managing scientific facilities. This management enables the laboratory to remain at the forefront of research, aiding both local and global communities through advancements in science and technology.
This information is meant to be a general summary of Ut-Battelle Development 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 2022.
- Investment Income: $68,439
- Program Service Revenue: $11,631,023
- Gross Receipts: $23,986,732
Assets and Liabilities:
- Total Assets: $72,644,900
- Total Liabilities: $47,695,692
- Net Assets: $24,949,208
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME AFFILIATE
Revenue
$11,631,023
Organization Details
Founding Year
2001
Phone
(865) 241-2976Principal Officer
Andrew Petzold
Main Address
PO BOX 2008 MS-6432, OAK RIDGE, TN, 378316432
NTEE Category
Code: U99 - Science research
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