Nonprofit · EIN 25-1359185
PENN STATE RESEARCH FOUNDATION
Tax-exempt · UNIVERSITY PK, PA 16802
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $7,203,435 | $5,759,620 | $1,443,815 | $8,267,382 | $523,383 | $7,743,999 |
| December 31, 2023 | 990 | $5,655,375 | $5,598,652 | $56,723 | $8,770,133 | $1,690,735 | $7,079,398 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,429,913
- Program service revenue
- $4,529,362
- Investment income
- $244,160
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $5,745,522
- Management and general (functional)
- $14,098
Balance sheet and other
- Total assets, start of year
- $8,770,133
- Total assets, end of year
- $8,267,382
- Total liabilities, end of year
- $523,383
- Net assets, end of year
- $7,743,999
- Publicly traded securities
- $2,006,878
- Net assets without donor restrictions
- $7,743,999
- Gross receipts
- $7,203,435
- Employees
- 0
- Year formed
- 1934
- State of legal domicile
- PA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Neelima Bendapudi | Director Trustee or director | 1 | $0 | $1,569,399 | $59,819 |
| Lora Weiss | Former President Former | 0 | $0 | $555,685 | $59,158 |
| Andrew Read | President Officer | 1 | $0 | $537,603 | $45,344 |
| Virginia A Teachey | Treasurer Term 42025 Trustee or director, Officer | 1 | $0 | $336,697 | $52,512 |
| Bin Yan | Vice President Trustee or director, Officer | 1 | $0 | $258,170 | $43,705 |
| Lee Wagner | Acting Treasurer Eff 052025 Officer | 1 | $0 | $233,570 | $48,637 |
| James Delattre | Secretary Trustee or director, Officer | 1 | $0 | $239,994 | $22,342 |
| Shannon Harvey | Assistant Secretary Officer | 1 | $0 | $172,617 | $79,700 |
| C Daniel Azzara | Director Trustee or director | 1 | $0 | $135,623 | $34,181 |
| Gregory Lewis | Director Trustee or director | 1 | $0 | $131,360 | $33,136 |
| Tracy Claar | Assistant Secretary Officer | 1 | $0 | $57,069 | $36,680 |
| Eric Barron | Former Director Former | 0 | $0 | $73,862 | $0 |
| Andrew Stephenson | Director Trustee or director | 1 | $0 | $0 | $0 |
| Bruce Shook | Director Trustee or director | 1 | $0 | $0 | $0 |
| Kathleen Shay | Director Trustee or director | 1 | $0 | $0 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Joseph Herbst | Director Trustee or director | 1 | $0 |
| Mark Granahan | Director Trustee or director | 1 | $0 |
| Eric Hall II | Director Trustee or director | 1 | $0 |
| Charles Kunsch | Director Trustee or director | 1 | $0 |
| Selda Gunsel | Director Trustee or director | 1 | $0 |
| Patricia Loftus | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Neelima Bendapudi | Director Trustee or director | 1 | $0 | $1,378,476 | $56,534 |
| Eric Barron | Former Director Former | 0 | $0 | $606,646 | $40,407 |
| Lora Weiss | Former President Former | 0 | $0 | $527,169 | $55,924 |
| Andrew Read | President Officer | 1 | $0 | $461,215 | $43,054 |
| Virginia A Teachey | Treasurer Trustee or director, Officer | 1 | $0 | $303,881 | $48,611 |
| Bin Yan | Vice President Trustee or director, Officer | 1 | $0 | $240,702 | $47,885 |
| James Delattre | Secretary Trustee or director, Officer | 1 | $0 | $224,158 | $20,658 |
| Gregory Lewis | Director Trustee or director | 1 | $0 | $139,851 | $11,653 |
| Patricia Loftus | Director Trustee or director | 1 | $0 | $0 | $0 |
| Selda Gunsel | Director Trustee or director | 1 | $0 | $0 | $0 |
| C Daniel Azzara | Director Trustee or director | 1 | $0 | $0 | $0 |
| Kathleen Shay | Director Trustee or director | 1 | $0 | $0 | $0 |
| Bruce Shook | Director Trustee or director | 1 | $0 | $0 | $0 |
| Andrew Stephenson | Director Trustee or director | 1 | $0 | $0 | $0 |
| Joseph Herbst | Director Trustee or director | 1 | $0 | $0 | $0 |
| Charles Kunsch | Director Trustee or director | 1 | $0 | $0 | $0 |
| Eric Hall II | Director Trustee or director | 1 | $0 | $0 | $0 |
| Mark Granahan | Director Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 180 POLLOCK RD, UNIVERSITY PK, PA 16802-4540
- In care of
- % LEE WAGNER
- Principal officer (990 for 2024)
- Lee Wagner, 180 Pollock Road 308 Old Main, University Park, PA 16802
- Signed the 990
- LEE WAGNER, Controller
- Phone
- (814) 865-0953
- Website
- psu.edu
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.
Program accomplishments
- 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.Expenses $5,745,522 · revenue $4,529,362
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 25-1359185
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1979
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B99)
- Assets (IRS master file)
- $8,267,382
- Income (IRS master file)
- $7,203,435
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $7,203,435 | $5,759,620 | $8,267,382 | XML |
| 990 | December 2023 | $5,655,375 | $5,598,652 | $8,770,133 | XML |
| 990 | December 2022 | $5,169,616 | $4,810,955 | $8,344,737 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 25-1359185).
Questions about PENN STATE RESEARCH FOUNDATION
- What is the EIN of PENN STATE RESEARCH FOUNDATION?
- The employer identification number (EIN) of PENN STATE RESEARCH FOUNDATION is 25-1359185.
- Is PENN STATE RESEARCH FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1979.
- Are donations to PENN STATE RESEARCH FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does PENN STATE RESEARCH FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PENN STATE RESEARCH FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PENN STATE RESEARCH FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PENN STATE RESEARCH FOUNDATION?
- The 990 for the year ended December 31, 2024 names Lee Wagner.
- Who are the officers and directors of PENN STATE RESEARCH FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 21 people; 0 received compensation from the organization.
- How much revenue does PENN STATE RESEARCH FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $7,203,435, expenses of $5,759,620 and total assets of $8,267,382 at year end.
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