The Umbc Research Park Corporation Inc

Analysis

The Umbc Research Park Corporation Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in October 1994, 32 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, The Umbc Research Park Corporation Inc reported income of $4.1m and spending of $2.0m, leaving 52% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.9m to $4.1m (+44%), an average of +7.6% a year. The sharpest change came in the year to June 2024, when income rose by 97%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Umbc Research Park Corporation Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MD. Charities of a similar size with the same main cause include Boy Scouts of America ($4.1m), Meals on Wheels of Northwest Indiana Inc ($4.1m) and People of Praise Inc ($4.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 6.5% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $124k (6.2% of expenses). Other salaries and wages came to $10k. At year end it held assets of $22.3m against liabilities of $9.2m, net assets of $13.0m. It reported 2 employees.