To improve return on federal Research investment, maintain global innovation leadership, and reinvigorate the u.s. Heartland.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$1.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $135K a year · 8% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.0M
to officers and key staff · 51% of spending
Concern: pay to officers and key staff is 51% of spending; over 30%.
Pt VII · Sec A
9 mo
of spending, in cash
Looks good: 8.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $4.0M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$219K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$606K
+103% vs prior year
Spent
$2.0M
To programs
85%
Net assets
$2.8M
By yearFY2020–FY2024
Revenue
$606K
FY2024▲ +103%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.3M
FY2021$255K
FY2022$3.3M
FY2023$298K
FY2024$606K
Expenses
$2.0M
FY2024▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.6M
FY2022$1.3M
FY2023$1.7M
FY2024$2.0M
Net assets
$2.8M
FY2024▼ -34%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.6M
FY2021$2.3M
FY2022$4.3M
FY2023$4.2M
FY2024$2.8M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2017.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $1.7M Management & general 15% · $290K Fundraising 0% · $3K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO and Board Chair
$260,495Pt VII · Sec A
Director & Special Advisor
$250,000Pt VII · Sec A
Managing Director of Investments
$250,000Pt VII · Sec A
SR. Associate
$124,423Pt VII · Sec A
SR. Associate
$120,000Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Lydia McClure Kyohere’s $260K as CEO and Board Chair is at the 99th percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
James Graham$250,000$250,000$250,000$250,000$353,365
Lydia McClure Kyohere$260,495$198,077———
Isaac Barchas$250,000$250,000$250,000$250,000$259,615
Lydia Kyohere——$175,000$175,000$247,356
Max Rosett———$150,000$153,975
Ryan Field—$37,500$61,394$125,000$109,423
Andrew Cox$124,423————
Megan Collonnetta$120,000————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Boosts federal research returns, global innovation, and Heartland revitalization.

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Provided by the organization

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1 program · $1.7M · in their own filed words · FY2024
01

Providing entrepreneurship education & training to university students and researchers, working with existing entrepreneurship support organizations and other groups at universities, establishing a fellowship program for university researchers, assisting university researchers with conducting translational research, sponsoring university…

$1.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2019
Total grants receivedfrom 1 funder$4.0M
Grants paid · 2 grants · $175K · 2023–2024
Nightstar Biotechnologies INCFY2024$29,990
Genrab INCFY2023$144,845

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$606K
Ln 12
Fees for servicesLn 2g$386K
Investment incomeLn 3$220K
Money outPt IX
$2.0M
Ln 25
Programscol B$1.7M
Managementcol C$290K
Fundraisingcol D$3K
Owns and owesPt X
$2.8M
net assets · Ln 32
Cash and savingsLn 1–2$1.5M
Total assetsLn 16$3.0M
LiabilitiesLn 26$219K
PeoplePt VI, VII
11
listed · VII A
PaidVII A5
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$386K
Investment incomeLn 3$220K
Gains on assetsLn 7$113K
Total revenueLn 12$606K
Assets in detailPt X, end of year
CashLn 1$278K
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$1.5M
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$3.0M
LiabilitiesLn 26$219K
Net assetsLn 32$2.8M
OperationsPt I, VI
EmployeesI 57
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.0M$1.5M
InvestmentsLn 11–13$1.3M$1.1M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$4.4M$3.0M
LiabilitiesLn 26$160K$219K
Net assetsLn 32$4.2M$2.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$30K$30K
Pay of current officers, directors and key staffLn 5$831K$770K$61K$790
Other salaries and wagesLn 7$370K$342K$28K$350
Other employee benefitsLn 9$65K$61K$3K$63
Payroll taxesLn 10$71K$68K$3K$40
Legal feesLn 11b$101K$79K$22K
Accounting feesLn 11c$77K$75K$2K
Other fees for servicesLn 11g$119K$91K$28K
Office expensesLn 13$2K$2K
Information technologyLn 14$80K$75K$5K
OccupancyLn 16$29K$29K
TravelLn 17$129K$118K$11K
Conferences, conventions and meetingsLn 19$57K$53K$4K$74
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$2.0M$1.7M$290K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $606K$2.0M−$1.4M$2.8M 990 PDF
FY2023 $298K$1.7M−$1.4M$4.2M 990 PDF
FY2022 $3.3M$1.3M$2.0M$4.3M 990 PDF
FY2021 $255K$1.6M−$1.3M$2.3M 990 PDF
FY2020 $4.3M$1.5M$2.7M$3.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $605,827 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $229,167$386,009
I-10 Investment incomePrior year $69,130$219,818
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $298,297$605,827
I-13 Grants and similar amounts paidPrior year $144,845$29,990
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,146,006$1,336,774
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $397,320$613,410
I-18 Total expensesPrior year $1,688,171$1,980,174
I-19 Revenue less expensesPrior year −$1,389,874−$1,374,347
Part VI · Governance 3 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $605,827 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $386,009$386,009
VIII-3 Investment incomeExcluded from tax $106,859$106,859
VIII-7 Net gain or loss on sales of assetsExcluded from tax $112,959$112,959
VIII-12 Total revenueRelated to mission $386,009 · Unrelated business $0 · Excluded from tax $219,818$605,827
Part IX · Statement of functional expenses $1,980,174 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $29,990$29,990
IX-5 Pay of current officers, directors and key staffPrograms $769,609 · Management $60,738 · Fundraising $790$831,137
IX-7 Other salaries and wagesPrograms $341,505 · Management $27,808 · Fundraising $350$369,663
IX-9 Other employee benefitsPrograms $61,490 · Management $3,238 · Fundraising $63$64,791
IX-10 Payroll taxesPrograms $67,743 · Management $3,400 · Fundraising $40$71,183
IX-11b Legal feesPrograms $79,009 · Management $22,415$101,424
IX-11c Accounting feesManagement $74,799 · Fundraising $2,024$76,823
IX-11g Other fees for servicesPrograms $91,369 · Management $27,659$119,028
IX-13 Office expensesManagement $2,416$2,416
IX-14 Information technologyPrograms $75,420 · Management $4,949$80,369
IX-16 OccupancyManagement $29,425$29,425
IX-17 TravelPrograms $117,963 · Management $11,054$129,017
IX-19 Conferences, conventions and meetingsPrograms $52,790 · Management $4,299 · Fundraising $74$57,163
IX-23 InsuranceManagement $13,990$13,990
IX-24 Other expenses (24a–d)Management $3,755$3,755
IX-25 Total functional expensesPrograms $1,686,888 · Management $289,945 · Fundraising $3,341$1,980,174
Part X · Balance sheet $3,002,101 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $111,669$278,334
X-2 Savings and temporary cash investmentsStart of year $2,844,840$1,185,629
X-3 Pledges and grants receivableStart of year $46,810$0
X-4 Accounts receivableStart of year $2,000$388,009
X-9 Prepaid expenses and deferred chargesStart of year $40,498$51,257
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $1,301,976$1,047,982
X-12 Other securitiesStart of year $21,390$50,890
X-16 Total assetsStart of year $4,369,183$3,002,101
X-17 Accounts payable and accrued expensesStart of year $160,383$219,242
X-26 Total liabilitiesStart of year $160,383$219,242
X-27 Net assets without donor restrictionsStart of year $1,738,541$1,067,256
X-28 Net assets with donor restrictionsStart of year $2,470,259$1,715,603
X-32 Total net assets or fund balancesStart of year $4,208,800$2,782,859
X-33 Total liabilities and net assetsStart of year $4,369,183$3,002,101
Part XI · Reconciliation of net assets $2,782,859 net assets at year end
XI-1 Total revenue$605,827
XI-2 Total expenses$1,980,174
XI-3 Revenue less expenses−$1,374,347
XI-4 Net assets at start of year$4,208,800
XI-5 Net unrealized gains (losses) on investments−$51,594
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,782,859

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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