PENN STATE RESEARCH FOUNDATION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- PENN STATE RESEARCH FOUNDATION (EIN 25-1359185)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-10-16
- IRS object ID
- 202522899349301007
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-10-16T09:52:34-04:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 251359185 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Penn State Research Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % Lee Wagner | InCareOfNm |
| Business Name Control | PENN | BusinessNameControlTxt |
| Phone | 8148650953 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 180 Pollock Road 308 Old Main | AddressLine1Txt |
| City | University Park | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 16802 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LEE WAGNER | PersonNm |
| Person Title | Controller | PersonTitleTxt |
| Phone | 8148650953 | PhoneNum |
| Signature | 2025-10-15 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | Lee Wagner | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 180 Pollock Road 308 Old Main | AddressLine1Txt |
| City | University Park | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 16802 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $7,203,435 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | psu.edu | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1934 | FormationYr |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Activity Or Mission | The Penn State Research Foundations mission is to foster and advance scientific research which includes creating, purchasing, holding and licensing of rights for inventions, designs and intellectual property of The Pennsylvania State University. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,520,122 | PYContributionsGrantsAmt |
| CY Contributions Grants | $2,429,913 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,931,328 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $4,529,362 | CYProgramServiceRevenueAmt |
| PY Investment Income | $203,925 | PYInvestmentIncomeAmt |
| CY Investment Income | $244,160 | CYInvestmentIncomeAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $5,655,375 | PYTotalRevenueAmt |
| CY Total Revenue | $7,203,435 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,598,652 | PYOtherExpensesAmt |
| CY Other Expenses | $5,759,620 | CYOtherExpensesAmt |
| PY Total Expenses | $5,598,652 | PYTotalExpensesAmt |
| CY Total Expenses | $5,759,620 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $56,723 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,443,815 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $8,770,133 | TotalAssetsBOYAmt |
| Total Assets EOY | $8,267,382 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,690,735 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $523,383 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $7,079,398 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $7,743,999 | NetAssetsOrFundBalancesEOYAmt |
| Mission | The Penn State Research Foundations mission is to foster and advance scientific research which includes creating, purchasing, holding and licensing of rights for inventions, designs and intellectual property of The Pennsylvania State University. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $5,745,522 | ExpenseAmt |
| Revenue | $4,529,362 | RevenueAmt |
| Desc | The Penn State Research Foundation develops and sustains the in-house licensing capability of The Pennsylvania State University including licensing of intellectual property, payments to inventors for incentive awards and sharing of royalties. | Desc |
| Total Program Service Expenses | $5,745,522 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | false | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | false | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 92 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | false | Form8899Filedind |
| Form1098 C Filed | false | Form1098CFiledInd |
| DAF Excess Business Holdings | false | DAFExcessBusinessHoldingsInd |
| Taxable Distributions | false | TaxableDistributionsInd |
| Distribution To Donor | false | DistributionToDonorInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | false | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (true) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (true) | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Lee Wagner | PersonNm |
| Phone | 8148650953 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 180 Pollock Road 308 Old Main | AddressLine1Txt |
| City | University Park | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 16802 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|---|
| Neelima Bendapudi | ||||||||
| Director | 1.00 | 49.00 | Yes (X) | $0 | $1,569,399 | $59,819 | ||
| Lora Weiss | ||||||||
| Former President | 0.00 | 0.00 | $0 | $555,685 | $59,158 | Yes (X) | ||
| Andrew Read | ||||||||
| President | 1.00 | 49.00 | $0 | $537,603 | $45,344 | Yes (X) | ||
| Virginia A Teachey | ||||||||
| Treasurer Term 42025 | 1.00 | 49.00 | Yes (X) | $0 | $336,697 | $52,512 | Yes (X) | |
| Bin Yan | ||||||||
| Vice President | 1.00 | 49.00 | Yes (X) | $0 | $258,170 | $43,705 | Yes (X) | |
| Lee Wagner | ||||||||
| Acting Treasurer Eff 052025 | 1.00 | 49.00 | $0 | $233,570 | $48,637 | Yes (X) | ||
| James Delattre | ||||||||
| Secretary | 1.00 | 49.00 | Yes (X) | $0 | $239,994 | $22,342 | Yes (X) | |
| Shannon Harvey | ||||||||
| Assistant Secretary | 1.00 | 49.00 | $0 | $172,617 | $79,700 | Yes (X) | ||
| C Daniel Azzara | ||||||||
| Director | 1.00 | 49.00 | Yes (X) | $0 | $135,623 | $34,181 | ||
| Gregory Lewis | ||||||||
| Director | 1.00 | 49.00 | Yes (X) | $0 | $131,360 | $33,136 | ||
| Tracy Claar | ||||||||
| Assistant Secretary | 1.00 | 49.00 | $0 | $57,069 | $36,680 | Yes (X) | ||
| Eric Barron | ||||||||
| Former Director | 0.00 | 0.00 | $0 | $73,862 | $0 | Yes (X) | ||
| Andrew Stephenson | ||||||||
| Director | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| Bruce Shook | ||||||||
| Director | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| Kathleen Shay | ||||||||
| Director | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| Joseph Herbst | ||||||||
| Director | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| Mark Granahan | ||||||||
| Director | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| Eric Hall II | ||||||||
| Director | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| Charles Kunsch | ||||||||
| Director | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| Selda Gunsel | ||||||||
| Director | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| Patricia Loftus | ||||||||
| Director | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $4,301,649 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $515,214 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Related Organizations | $2,429,913 | RelatedOrganizationsAmt |
| Total Contributions | $2,429,913 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Patent Cost Reimburse | 541700 | $381,495 | $381,495 |
| Patent Royalties | 541700 | $4,147,867 | $4,147,867 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $4,529,362 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $244,160 | TotalRevenueColumnAmt |
| Exclusion | $244,160 | ExclusionAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,203,435 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,529,362 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $244,160 | ExclusionAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,289 | TotalAmt |
| Management And General | $11,289 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,809 | TotalAmt |
| Management And General | $2,809 | ManagementAndGeneralAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,279,286 | TotalAmt |
| Program Services | $2,279,286 | ProgramServicesAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,511,495 | TotalAmt |
| Program Services | $1,511,495 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| Professional Services | $1,792,991 | $1,792,991 |
| Awards | $161,750 | $161,750 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,759,620 | TotalAmt |
| Program Services | $5,745,522 | ProgramServicesAmt |
| Management And General | $14,098 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $470,149 | BOYAmt |
| EOY | $1,002,708 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $787,091 | BOYAmt |
| EOY | $396,143 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,786,062 | BOYAmt |
| EOY | $2,006,878 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,726,831 | BOYAmt |
| EOY | $4,861,653 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,770,133 | BOYAmt |
| EOY | $8,267,382 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,053,813 | BOYAmt |
| EOY | $523,383 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $636,922 | BOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,690,735 | BOYAmt |
| EOY | $523,383 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,079,398 | BOYAmt |
| EOY | $7,743,999 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,079,398 | BOYAmt |
| EOY | $7,743,999 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,770,133 | BOYAmt |
| EOY | $8,267,382 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $1,443,815 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$779,214 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type1 | Yes (X) | SupportingOrgType1Ind |
| Supported Organizations | 1 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Pennsylvania State Uni | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 246000376 | EIN |
| Organization Type | 6 | OrganizationTypeCd |
| Governing Document Listed | Yes (true) | GoverningDocumentListedInd |
| Support | $1,511,495 | SupportAmt |
| Other Support | $0 | OtherSupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $1,511,495 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (true) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | false | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | false | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | false | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | false | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | false | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | false | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | false | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | false | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | false | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | false | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | false | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | false | ContributionControllerInd |
| Contribution Family | false | ContributionFamilyInd |
| Contribution35 Controlled | false | Contribution35ControlledInd |
Form990 Sch A Type1 Suprt Org Form990SchAType1SuprtOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Power Appoint Majority Dir Trst | Yes (true) | PowerAppointMajorityDirTrstInd |
| Operate Benefit Non Suprt Org | false | OperateBenefitNonSuprtOrgInd |
Schedule D IRS990ScheduleD
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Asset Backed Securities | Desc |
| Book Value | $4,861,653 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $4,861,653 | TotalBookValueSecuritiesAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (true) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 entries)
| TitleTitleTxt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt |
|---|---|---|---|---|---|
| Lora Weiss | |||||
| Former President | $530,229 | $25,456 | $32,051 | $27,107 | $614,843 |
| James Delattre | |||||
| Secretary | $239,994 | $22,342 | $262,336 | ||
| Eric Barron | |||||
| Former Director | $73,862 | $73,862 | |||
| C Daniel Azzara | |||||
| Director | $135,623 | $13,064 | $21,117 | $169,804 | |
| Virginia A Teachey | |||||
| Treasurer Term 42025 | $333,084 | $3,613 | $30,944 | $21,568 | $389,209 |
| Neelima Bendapudi | |||||
| Director | $950,000 | $619,399 | $32,051 | $27,768 | $1,629,218 |
| Bin Yan | |||||
| Vice President | $258,170 | $24,699 | $19,006 | $301,875 | |
| Gregory Lewis | |||||
| Director | $131,360 | $12,659 | $20,477 | $164,496 | |
| Andrew Read | |||||
| President | $526,500 | $11,103 | $32,051 | $13,293 | $582,947 |
| Lee Wagner | |||||
| Acting Treasurer Eff 052025 | $233,570 | $22,483 | $26,154 | $282,207 | |
| Shannon Harvey | |||||
| Assistant Secretary | $172,617 | $70,748 | $8,952 | $252,317 | |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Other non-fixed payments (Part I, line 7) | Bonuses are based on several individual and organization variables. Bonuses are calculated, determined, and approved by the related organizational Board as prepared by the compensation committee. |
| General Explanation Attachment | Part VII/Schedule J reflect directors and officers receiving compensation and benefits from a related organization. All remuneration reported was for services rendered as full-time employees of a related organization and not for services rendered to the filing organization. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Members or stockholder classes and rights Part VI line 6 | The Corporation for Penn State is the sole member and elects the directors. |
| Member election for additional members Part VI line 7a | The Corporation for Penn State is the sole member and elects the directors. |
| Form 990 governing body review Part VI line 11 | The draft Form 990 is provided to the Board of Directors for comment, questions, review, and approval prior to filing. |
| Conflict of interest policy compliance Part VI line 12c | The Board of Directors, Members, and Officers complete an annual questionaire documenting compliance with the organizations conflict of interest policy. |
| CEO executive director top management comp Part VI line 15a | Part IV, Section B, Lines 13, 14, and 15:The policies and procedures of the related controlling parent organization govern the Foundations activities including, but not limited to, a whistleblower, document retention and destruction, and compensation determination policy.The related controlling parent organization provides professional services which includes employee support to the Foundation. The Foundation does not directly employ employees. |
| Form 990 availability to public Part VI line 18 | The Foundations Form 990s are available upon written and/or oral request. |
| Governing documents etc available to public Part VI line 19 | The Foundations governing documents, conflict of interest and other related policies, and financial statements are available upon written and/or oral request. |
| Part VII response or note to any other line in Part VII | The related controlling parent organization provides professional services which includes employee support to the Foundation. The Foundation does not directly employ employees.All remuneration reported was for services rendered as full-time employees of a related organization and not for services rendered to the filing organization. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (17 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|---|---|
| The Pennsylvania State University | |||||||||||
| 308 Old Main | University Park | PA | 16802 | 246000376 | Education | PA | 115 | N/A | false | ||
| The Corporation for Penn State | |||||||||||
| 308 Old Main | University Park | PA | 16802 | 251500292 | Holding Company | PA | 501c3 | false | 12a | The Pennsylvania State University | |
| Pennsylvania College of Technology | |||||||||||
| One College Ave | Williamsport | PA | 17701 | 232564508 | Education | PA | 501c3 | false | 7 | Corporation for Penn State | |
| PA College of Tech Community Arts | |||||||||||
| One College Ave | Williamsport | PA | 17701 | 232617447 | Art Center | PA | 501c3 | false | 7 | PA College of Tech | |
| Ben Franklin Tech Ctr | |||||||||||
| 308 Old Main | University Park | PA | 16802 | 251618093 | Technology | PA | 501c3 | false | 7 | Corporation for Penn State | |
| The Penn State Uni Philanthropic | |||||||||||
| 308 Old Main | University Park | PA | 16802 | 274628784 | Fundraising | PA | 501c3 | false | 12a | Corporation for Penn State | |
| Recycling Markets Center | |||||||||||
| 777 W Harrisburg Pike | Middletown | PA | 17057 | 202191485 | Promote Recycling | PA | 501c3 | false | 7 | Corporation for Penn State | |
| St Joseph Regional Health Network | |||||||||||
| 2500 Bernville Road | Reading | PA | 19605 | 231352211 | Healthcare | PA | 501c3 | false | 3 | Penn State Health | |
| St Joseph Medical Center Foundatio | |||||||||||
| 2500 Bernville Road | Reading | PA | 19605 | 232649362 | Fundraising | PA | 501c3 | false | 12a | St Joseph Regional Heatlh Network | |
| St Joseph Medical Group | |||||||||||
| 2500 Bernville Road | Reading | PA | 19605 | 208544021 | Healthcare | PA | 501c10 | false | 10 | Penn State Health | |
| The Milton S Hershey Med Ctr | |||||||||||
| 90 Hope Drive | Hershey | PA | 17033 | 251854772 | Healthcare | PA | 115 | false | Penn State Health | ||
| Penn State Health | |||||||||||
| 500 University Drive | Hershey | PA | 17033 | 473769205 | Healthcare Support | PA | 501c3 | false | 12a | The Pennsylvania State University | |
| Penn State Health Hampden Medical C | |||||||||||
| 220 Good Hope Road | Enola | PA | 17025 | 851608328 | Healthcare | PA | 501c3 | false | 3 | Penn State Health | |
| Penn State Health Lancaster Medical | |||||||||||
| 2160 State Road | Lancaster | PA | 17601 | 851620990 | Healthcare | PA | 501c3 | false | 3 | Penn State Health | |
| Penn State Health Holy Spirit MC | |||||||||||
| 100 Crystal A Drive MC CA 210 | Hershey | PA | 17033 | 231512747 | Healthcare | PA | 501c3 | false | 3 | Penn State Health | |
| Holy Spirit Corporation | |||||||||||
| 100 Crystal A Drive MC CA210 | Hershey | PA | 17033 | 232214540 | Real Estate | PA | 501c2 | false | PSHHSMC | ||
| Pennsylvania Psychiatric Institute | |||||||||||
| 100 Crystal A Drive MC CA210 | Hershey | PA | 17033 | 261699000 | Healthcare | PA | 501c3 | false | 3 | Penn State Health | |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Disproportionate AllocationsDisproportionateAllocationsInd | General Or Managing PartnerGeneralOrManagingPartnerInd | OwnershipOwnershipPct |
|---|---|---|---|---|---|---|---|---|---|---|
| HOSC | ||||||||||
| 15305 Dallas Pkwy | Addison | TX | 75001 | 200469951 | Healthcare | PA | Nittany Health | false | false | 0.00000 |
| CGH Realty Associates | ||||||||||
| 145 N 6th Street | Reading | PA | 19601 | Real Estate | PA | CGH Realty Co | false | false | 0.00000 | |
| Nittany Health ValueHealth Joint | ||||||||||
| 11221 Roe Ave | Leawood | KS | 66211 | 851154159 | Healthcare | PA | Nittany Health | false | false | 0.00000 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | OwnershipOwnershipPct |
|---|---|---|---|---|---|---|---|---|---|
| Research Park Management Corp | |||||||||
| 308 Old Main | University Park | PA | 16802 | 251625696 | Real Estate | PA | Corporation for Penn State | C Corp | 0.00000 |
| Research Park Hotel Corporation | |||||||||
| 308 Old Main | University Park | PA | 16802 | 251673018 | Hotel | PA | Research Park Management Corp | C Corp | 0.00000 |
| Nittany Insurance Company | |||||||||
| PO Box 4119 | Burlington | VT | 05406 | 251718998 | Insurance | PA | Corporation for Penn State | C Corp | 0.00000 |
| PS Research Park Tech Center | |||||||||
| 308 Old Main | University Park | PA | 16802 | 251723275 | Condo Management | PA | Penn State University | C Corp | 0.00000 |
| Nittany Health Inc | |||||||||
| 500 University Drive | Hershey | PA | 17033 | 251769611 | Homecare Health | PA | Penn State Health | C Corp | 0.00000 |
| CGH Realty Co | |||||||||
| 2500 Bernville Road | Reading | PA | 19605 | 232326801 | Real Estate | PA | SJRHN | C Corp | 0.00000 |
| Holy Spirit Ventures Inc | |||||||||
| 100 Crystal A Drive MC CA210 | Hershey | PA | 17033 | 232407709 | Real Estate | PA | PSHHSMC | C Corp | 0.00000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (true) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| The Pennsylvania State University | ||
| o | $1,792,991 | Fair Market Value |
| The Pennsylvania State University | ||
| m | $1,511,495 | Fair Market Value |
| The Pennsylvania State University | ||
| l | $930,741 | Fair Market Value |
| The Pennsylvania State University | ||
| p | $11,067 | Fair Market Value |