NANOELECTRONICS RESEARCH CORPORATION

Address
4819 EMPEROR BLVD Suite 300
DURHAM, NC 27703
Contact
Website: http://nri.src.org
Phone: +1 (919) 941-9400
Nonprofit
NTEE: S41 - Promotion of Business
EIN: 20-2698055

Mission

SEE SCHEDULE O.
 20162015201420132012
Basic features of the organization
Year of formation2005
Metropolitan statistical area6640
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$245,690.00$255,295.00$242,493.00$257,686.00$86,481.00
Sum of reportable (W2/1099) compensation$206,829.00$237,148.00$230,047.00$231,231.00$247,326.00
Number of employees00000
Number of people compensated >$100k11110
Number of volunteers00000
Number of highly compensated contractors1000 
Personnel
Chen, An
TitlePROGRAM DIRECTOR    
Name of key/compensated personAN CHEN    
Position of compensated person
Highest compensated employees (>$100k)True    
Average hours per week working for org40.0    
Reportable compensation from org$135,000.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Average hours per week working for related orgs0.0    
Hansen, Kenneth
TitleCHAIRMANCHAIRMAN (AS OF 06/2015)   
Name of key/compensated personMR KENNETH HANSENMR KENNETH HANSEN   
Position of compensated person
Average hours per week working for org3.02.0   
Reportable compensation from org$35,391.00$10,718.00   
Other comp, non-reportable, from org and related orgs$134,680.00$63,887.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $437,751.00$236,508.00   
Average hours per week working for related orgs37.038.0   
Hillenius, Steven
TitleBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated personDR STEVEN HILLENIUSDR STEVEN HILLENIUSDR STEVEN HILLENIUSDR STEVEN HILLENIUSDR STEVEN HILLENIUS
Position of compensated person
Average hours per week working for org1.01.01.01.61.6
Reportable compensation from org$2,099.00$9,683.00$12,161.00$15,135.00$12,068.00
Other comp, non-reportable, from org and related orgs$104,680.00$110,044.00$156,647.00$157,758.00$177,522.00
Corresponding comp from related orgs
Reportable compensation from related orgs $285,484.00$329,631.00$346,582.00$331,198.00$296,570.00
Average hours per week working for related orgs39.039.039.038.438.4
Joyner, William
Title BOARD MEMBER (THROUGH 05/2015)BOARD MEMBERBOARD MEMBER 
Name of key/compensated person DR WILLIAM JOYNERWILLIAM JOYNERWILLIAM JOYNER 
Position of compensated person
Average hours per week working for org 1.01.01.0 
Reportable compensation from org $3,328.00$3,864.00$4,840.00 
Other comp, non-reportable, from org and related orgs $77,390.00$97,390.00$98,304.00 
Corresponding comp from related orgs
Reportable compensation from related orgs  $239,281.00$233,158.00$225,597.00 
Average hours per week working for related orgs 39.039.039.0 
McFadden, Clark
TitleBOARD SECRETARY    
Name of key/compensated personCLARK MCFADDEN    
Position of compensated person
Average hours per week working for org0.5    
Reportable compensation from org$21,373.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Average hours per week working for related orgs1.5    
Merzbacher, Celia
TitleBOARD MEMBERBOARD MEMBER (AS OF 06/2015)   
Name of key/compensated personDR CELIA MERZBACHERDR CELIA MERZBACHER   
Position of compensated person
Average hours per week working for org2.01.0   
Reportable compensation from org$12,966.00$8,762.00   
Other comp, non-reportable, from org and related orgs$79,200.00$82,762.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $220,658.00$252,995.00   
Average hours per week working for related orgs38.039.0   
Sumney, Larry
Title CHAIRMAN (THROUGH 05/2015)CHAIRMANCHAIRMANCHAIRMAN
Name of key/compensated person MR LARRY SUMNEYMR LARRY SUMNEYMR LARRY SUMNEYMR LARRY SUMNEY
Position of compensated person
Average hours per week working for org 2.02.03.33.3
Reportable compensation from org $24,657.00$34,022.00$31,256.00$48,248.00
Other comp, non-reportable, from org and related orgs $193,905.00$213,163.00$354,240.00$87,150.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $544,128.00$625,314.00$439,478.00$537,282.00
Average hours per week working for related orgs 38.038.036.736.7
Theis, Thomas
Title PROGRAM DIRECTORPROGRAM DIRECTORPROGRAM DIRECTORPROGRAM DIR. (AS OF 07/01)
Name of key/compensated person THOMAS THEISTHOMAS THEISTHOMAS THEISTHOMAS THEIS
Position of compensated person
Average hours per week working for org 40.040.040.040.0
Reportable compensation from org $180,000.00$180,000.00$180,000.00$90,000.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Average hours per week working for related orgs 0.00.00.00.0
Weitzman, Elizabeth
Title    BOARD MEMBER
Name of key/compensated person    MS ELIZABETH WEITZMAN
Position of compensated person
Average hours per week working for org    1.1
Reportable compensation from org    $7,010.00
Other comp, non-reportable, from org and related orgs    $185,047.00
Corresponding comp from related orgs
Reportable compensation from related orgs     $250,720.00
Average hours per week working for related orgs    38.9
Welser, Jeffrey
Title    PROGRAM DIR. (THROUGH 06/30)
Name of key/compensated person    JEFFREY WELSER
Position of compensated person
Average hours per week working for org    40.0
Reportable compensation from org    $90,000.00
Other comp, non-reportable, from org and related orgs    $0.00
Corresponding comp from related orgs
Reportable compensation from related orgs     $0.00
Average hours per week working for related orgs    0.0
Purpose: mission, activities, & accomplishments
Mission or significant activitiesSEE SCHEDULE O.SEE SCHEDULE O.SEE SCHEDULE O.SEE SCHEDULE O.NANOELECTRONICS RESEARCH CORPORATION (NERC) WAS FORMED TO ADMINISTER AND SUPPORT A UNIVERSITY BASED PROGRAM TO ADDRESS THE SCALING OF COMPLEMENTARY METAL OXIDE SEMICONDUCTOR (CMOS) LIMITS.
Programs, including revenue & expenses
NERC PROVIDED 4 GRANTS AND HAD 13 ACTIVE CONTRACTS DURING 2016. ALL FUNDS ARE PAID TO ACCREDITED COLLEGES AND UNIVERSITIES TO CONTINUE RESEARCH IN THE AREA OF NANOELECTRONICS.
Program descriptionNERC PROVIDED 4 GRANTS AND HAD 13 ACTIVE CONTRACTS DURING 2016. ALL FUNDS ARE PAID TO ACCREDITED COLLEGES AND UNIVERSITIES TO CONTINUE RESEARCH IN THE AREA OF NANOELECTRONICS.NERC PROVIDED 8 GRANTS AND HAD 8 ACTIVE CONTRACTS DURING 2015. ALL FUNDS ARE PAID TO ACCREDITED COLLEGES AND UNIVERSITIES TO CONTINUE RESEARCH IN THE AREA OF NANOELECTRONICS.NERC PROVIDED 3 GRANTS AND HAD 3 ACTIVE CONTRACTS DURING 2014. ALL FUNDS ARE GIVEN TO ACCREDITED COLLEGES AND UNIVERSITIES TO CONTINUE RESEARCH IN THE AREA OF NANOELECTRONICS.NERC PROVIDED 2 GRANTS AND HAD 8 ACTIVE CONTRACTS DURING 2013. ALL FUNDS ARE GIVEN TO ACCREDITED COLLEGES AND UNIVERSITIES TO CONTINUE RESEARCH IN THE AREA OF NANOELECTRONICS.NERC PROVIDED 14 GRANTS AND HAD 5 ACTIVE CONTRACTS DURING 2012. ALL FUNDS ARE GIVEN TO ACCREDITED COLLEGES AND UNIVERSITIES TO CONTINUE RESEARCH IN THE AREA OF NANOELECTRONICS.
Financial data
Revenue
Total revenue$8,352,279.00$8,245,631.00$9,523,001.00$5,905,578.00$6,312,394.00
Revenue from contributions (total)$8,339,910.00$8,233,157.00$9,510,427.00$5,893,193.00$6,304,928.00
Investment income, current yr$12,369.00$12,474.00$12,574.00$12,385.00$7,466.00
Total revenue from grants, etc., current yr$8,339,910.00$8,233,157.00$9,510,427.00$5,893,193.00$6,304,928.00
Total unrelated business revenue$0.00$0.00$0.00$0.00$0.00
Other revenue, current yr$0.00$0.00$0.00$0.00$0.00
Program service revenue (total)$0.00$0.00$0.00$0.00$0.00
Gross receipts$8,352,279.00$8,245,631.00$9,523,001.00$5,905,578.00$6,312,394.00
Sources of contributions
Contributions revenue from membership dues$4,500,000.00$4,500,000.00$5,200,000.00$5,200,000.00$5,200,000.00
Revenue from gov't grants$3,839,910.00$3,733,157.00$4,310,427.00$693,193.00$1,104,928.00
Other types of revenue
Royalties (total)$0.00$0.00$0.00$0.00$0.00
Miscellaneous revenue (total)$0.00$0.00$0.00$0.00$0.00
Net revenue from gaming (total)$0.00$0.00$0.00$0.00$0.00
Income from dividends, interest, and similar investments$12,369.00$12,474.00$12,574.00$12,385.00$7,466.00
Net rental income$0.00$0.00$0.00$0.00$0.00
Net income from fundraising events$0.00$0.00$0.00$0.00$0.00
Net inventory sales (total)$0.00$0.00$0.00$0.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$7,690,459.00$6,776,477.00$6,689,717.00$5,567,879.00$7,036,607.00
Fees for services
Lobbying fees (total)$0.00$0.00$0.00$0.00$0.00
Legal fees (total)$113,438.00$83,876.00$57,127.00$47,886.00$182,428.00
Fundraising service fees (total)$0.00$0.00$0.00$0.00$0.00
General management fees (total)$0.00$0.00$0.00$0.00$0.00
Investment management fees (total)$0.00$0.00$0.00$0.00$0.00
Assets and liabilities
Total assets$10,433,598.00$9,174,939.00$7,361,103.00$5,509,869.00$4,614,924.00
Total assets, beginning of year$9,174,939.00$7,361,103.00$5,509,869.00$4,614,924.00$6,817,602.00
Total liabilities$3,881,534.00$3,284,695.00$2,940,013.00$3,922,063.00$3,364,817.00
Total liabilities, beginning of year$3,284,695.00$2,940,013.00$3,922,063.00$3,364,817.00$4,843,282.00
Pledges & accounts receivable, net$0.00$1,080,477.00$0.00$234,214.00$0.00
Loans & receivables from key persons$0.00$0.00$0.00$0.00$0.00
Unrestricted net assets, end of yr$6,550,064.00$5,888,244.00$4,419,090.00$1,585,806.00$1,248,107.00
Temporarily restricted net assets$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00
Permanently restricted net assets, end of yr$0.00$0.00$0.00$0.00$0.00
Net assets$6,552,064.00$5,890,244.00$4,421,090.00$1,587,806.00$1,250,107.00
Net assets, beginning of year$5,890,244.00$4,421,090.00$1,587,806.00$1,250,107.00$1,974,320.00
Other liabilities$760,439.00$617,486.00$505,039.00$743,623.00$714,711.00
Bond liabilities$0.00$0.00$0.00$0.00$0.00
Intangible assets$0.00$0.00$0.00$0.00$0.00
Other assets$0.00$8,763.00$0.00$0.00$0.00
Investments: other securities$0.00$0.00$0.00$0.00$0.00
Investments: publicly traded securities$0.00$0.00$0.00$0.00$0.00
Cash: non-interest bearing$0.00$0.00$0.00$0.00$0.00
Cash: non-interest bearing, beginning of year$0.00$0.00$0.00$0.00$0.00
Investments -- program-related$0.00$0.00$0.00$0.00$0.00
Escrow or custodial account liability$0.00$0.00$0.00$0.00$0.00
Loans and other payables to key persons$0.00$0.00$0.00$0.00$0.00
Grants payable$2,962,565.00$2,541,156.00$2,359,395.00$3,004,321.00$2,476,267.00
Inventories for sale or use$0.00$0.00$0.00$0.00$0.00
Other financial variables
Revenue less expenses$661,820.00$1,469,154.00$2,833,284.00$337,699.00-$724,213.00
Advertising (total)$559.00$924.00$881.00$1,046.00$675.00
Savings & temp cash investment$10,433,598.00$8,085,699.00$7,361,103.00$4,870,655.00$4,614,924.00
Accounts receivable, net$0.00$0.00$0.00$405,000.00$0.00
Prepaid expenses & deferred charges$0.00$0.00$0.00$0.00$0.00
Accounts payable & accrued expenses$158,530.00$126,053.00$75,579.00$174,119.00$173,839.00
Deferred revenue$0.00$0.00$0.00$0.00$0.00
Unsecured notes & loans to unrelated parties$0.00$0.00$0.00$0.00$0.00
Secured mortgages and notes payable$0.00$0.00$0.00$0.00$0.00
Total net assets or fund balances$6,552,064.00$5,890,244.00$4,421,090.00$1,587,806.00$1,250,107.00
Depreciation, depletion, amortization$5,373.00$5,098.00$9,721.00$11,308.00$8,322.00
Payment to affiliates$0.00$0.00$0.00$0.00$0.00
Governance and accountability
Number of voting members33333
Number of independent voting members00000
Financial sheets auditedTrueTrueTrueTrueTrue
Audit on consolidated basisTrueTrueTrueTrueTrue
Accrual accountingTrueTrueTrueTrueTrue
Tax year start date2016-01-012015-01-012014-01-012013-01-012012-01-01
Tax year end date2016-12-012015-12-012014-12-012013-12-012012-12-01
Indicators for schedules (selected)
Business transaction with employeeTrue    
Grants to domestic org/gov't >$5kTrueTrueTrueTrueTrue
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990990990
Reason for form submission
Address change  True  
Date e-filing submitted2017-10-172017-01-252016-02-082014-12-082013-12-18
IRS schema version2016v3.12015v2.12014v5.02013v3.12012v2.1
Filing identifier201732059349301073201632999349301208201543159349304164201423169349303022201302839349300740
Use these data in your project Benchmark this organization against its peers