Nonprofit · EIN 56-2038762
SRCCO INC
Also known as MARCO
Tax-exempt · DURHAM, NC 27703
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $53,548,337 | $50,262,472 | $3,285,865 | $44,126,161 | $37,004,292 | $7,121,869 |
| December 31, 2023 | 990 | $44,484,022 | $61,911,717 | -$17,427,695 | $38,241,286 | $34,405,282 | $3,836,004 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $52,930,948
- of which government grants
- $27,530,948
- Membership dues
- $25,400,000
- Program service revenue
- $0
- Investment income
- $617,389
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $47,057,336
- Compensation of officers, directors and key employees
- $735,717
- Other salaries and wages
- $702,676
- Salaries, compensation and benefits (total)
- $1,885,023
- Professional fundraising fees
- $0
- Legal fees
- $277,246
- Accounting fees
- $35,686
- Occupancy
- $7,538
- Travel
- $43,222
- Depreciation
- $129,615
Balance sheet and other
- Total assets, start of year
- $38,241,286
- Total assets, end of year
- $44,126,161
- Total liabilities, end of year
- $37,004,292
- Net assets, end of year
- $7,121,869
- Net assets without donor restrictions
- $7,121,869
- Gross receipts
- $53,548,337
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1997
- State of legal domicile
- DE
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 |
|---|---|---|---|---|---|
| TODD YOUNKIN | PRESIDENT & CEO Trustee or director, Officer | 17 | $285,029 | $375,648 | $105,842 |
| DAVID HENSHALL | VP OF BUSINESS DEVELOPMENT Trustee or director | 16 | $107,131 | $154,017 | $73,070 |
| KAREN DI SPIGNA | CHIEF ACCOUNTING OFFICER Trustee or director | 19 | $89,691 | $101,047 | $88,328 |
| ADAM KNAPP | PROGRAM MANAGER Highest-paid employee | 29 | $111,941 | $44,039 | $34,492 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| TODD YOUNKIN | PRESIDENT & CEO Trustee or director, Officer | 12 | $180,822 | $432,869 | $99,705 |
| DAVID HENSHALL | VP OF BUSINESS DEVELOPMENT Trustee or director | 10 | $64,605 | $187,490 | $69,689 |
| KAREN DI SPIGNA | CHIEF ACCOUNTING OFFICER Trustee or director | 15 | $76,971 | $122,426 | $96,650 |
| ADAM KNAPP | PROGRAM MANAGER Highest-paid employee | 30 | $148,950 | $50,446 | $96,650 |
| ROMAN CAUDILLO | PROGRAM DIRECTOR Key employee | 40 | $180,000 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4819 EMPEROR BLVD STE 300, DURHAM, NC 27703-5420
- In care of
- % KAREN DI SPIGNA
- Principal officer (990 for 2024)
- TODD YOUNKIN, 4819 EMPEROR BOULEVARD SUITE 300, DURHAM, NC 27703
- Signed the 990
- TODD YOUNKIN, PRESIDENT & CEO
- Phone
- (919) 941-9400
- Return prepared by
- BDO USA
Mission
SRCCO, AS A CONTROLLED AFFILIATE OF THE SEMICONDUCTOR RESEARCH CORPORATION ("SRC"), FUNDS AND OPERATES PROGRAMS OF UNIVERSITY-BASED RESEARCH CENTERS FOCUSED ON MICROELECTRONIC TECHNOLOGY THAT BENEFITS BOTH PRIVATE INDUSTRY AND U.S. DEFENSE CAPABILITIES.
Program accomplishments
- RESEARCH CONTRACTS GRANTED TO COLLEGES AND UNIVERSITIES THROUGHOUT THE UNITED STATES.
- MANAGEMENT AND GENERAL COSTS TO MANAGE THE ABOVE RESEARCH CONTRACTS.
- JUMP 2.0 IS AN SRC-LED PUBLIC-PRIVATE PARTNERSHIP IN COOPERATION WITH DARPA, CO-SPONSORED BY SRC, DARPA, THE COMMERCIAL SEMICONDUCTOR INDUSTRY, AND THE DEFENSE INDUSTRIAL BASE. JUMP 2.0 WILL DRIVE LONG-TERM PATHFINDING UNIVERSITY RESEARCH THAT SUBSTANTIALLY INCREASES THE PERFORMANCE, EFFICIENCY, AND CAPABILITIES OF BROAD CLASSES OF ELECTRONICS SYSTEMS FOR BOTH COMMERCIAL AND MILITARY APPLICATIONS. THE PROGRAM WILL SPONSOR SEVEN ACADEMIC RESEARCH CENTERS FOCUSED ON CRITICAL TECHNOLOGY THEMES, ONE CENTER FOR EACH THEME. THESE SEVEN THEMES WILL BENEFIT BOTH THE DEFENSE AND INDUSTRIAL SECTORS BY PROVIDING THE DEPARTMENT OF DEFENSE WITH AN UNMATCHED TECHNOLOGICAL EDGE IN ADVANCED RADAR, COMMUNICATIONS, AND WEAPONS SYSTEMS, AND PROVIDE THE U.S. ECONOMY WITH UNIQUE INFORMATION TECHNOLOGY AND PROCESSING CAPABILITIES CRITICAL TO COMMERCIAL COMPETITIVENESS AND FUTURE ECONOMIC GROWTH.
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
- 56-2038762
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2002
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S41)
- Assets (IRS master file)
- $44,126,161
- Income (IRS master file)
- $53,548,337
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $53,548,337 | $50,262,472 | $44,126,161 | XML |
| 990 | December 2023 | $44,484,022 | $61,911,717 | $38,241,286 | XML |
| 990 | December 2022 | $45,012,595 | $39,505,984 | $42,830,224 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 56-2038762).
Questions about SRCCO INC
- What is the EIN of SRCCO INC?
- The employer identification number (EIN) of SRCCO INC is 56-2038762.
- Is SRCCO INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 2002.
- Are donations to SRCCO INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SRCCO INC 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 SRCCO INC 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 SRCCO INC 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 SRCCO INC?
- The 990 for the year ended December 31, 2024 names TODD YOUNKIN.
- Who are the officers and directors of SRCCO INC?
- The 990 for the year ended December 31, 2024 lists 4 people; 4 received compensation from the organization, the highest $285,029 (TODD YOUNKIN, PRESIDENT & CEO).
- How much revenue does SRCCO INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $53,548,337, expenses of $50,262,472 and total assets of $44,126,161 at year end.
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All nonprofits in DURHAM · North Carolina · Community improvement and capacity building