Nonprofit · EIN 88-0234325
RESEARCH DEVELOPMENT FOUNDATION
Tax-exempt · CARSON CITY, NV 89703
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $6,153,203 | $15,954,732 | -$9,801,529 | $51,172,587 | $29,470,044 | $21,702,543 |
| December 31, 2023 | 990 | $4,800,082 | $16,802,510 | -$12,002,428 | $47,741,944 | $19,824,763 | $27,917,181 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,935,000
- Program service revenue
- $745,691
- Investment income
- $1,472,512
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $250,000
- Compensation of officers, directors and key employees
- $656,116
- Salaries, compensation and benefits (total)
- $702,127
- Professional fundraising fees
- $0
- Legal fees
- $4,663,624
- Accounting fees
- $32,000
- Occupancy
- $21,000
- Travel
- $2,536
- Program services (functional)
- $15,639,214
- Management and general (functional)
- $315,518
Balance sheet and other
- Total assets, start of year
- $47,741,944
- Total assets, end of year
- $51,172,587
- Total liabilities, end of year
- $29,470,044
- Net assets, end of year
- $21,702,543
- Publicly traded securities
- $29,319,817
- Net assets without donor restrictions
- $10,885,204
- Net assets with donor restrictions
- $10,817,339
- Gross receipts
- $6,153,203
- Employees
- 3
- Year formed
- 1989
- State of legal domicile
- NV
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 |
|---|---|---|---|---|---|
| Robert M Wallace | Trustee, President Trustee or director, Officer | 4 | $186,901 | $499,114 | $99,413 |
| Jarred W Sloan | Trustee, Vice President, Treasurer Trustee or director, Officer | 4 | $150,341 | $535,674 | $99,413 |
| Lynn P Carter | Trustee Trustee or director | 4 | $77,248 | $608,767 | $99,413 |
| Joan S Dunlap | Trustee,VP,Assistant Secretary Trustee or director, Officer | 8 | $129,182 | $488,563 | $89,294 |
| Brian W Crozier | Trustee, Chairman Trustee or director, Officer | 6 | $77,248 | $279,800 | $49,850 |
| Robert L Evans Jr | VP, Assistant Treasurer Officer | 0 | $0 | $222,000 | $83,150 |
| John Russell Beekman | Vice President Officer | 10 | $0 | $117,543 | $40,505 |
| Christopher MacKenzie | Vice President, Secretary Officer | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Jarred W Sloan | Trustee, Vice President, Treasurer Trustee or director, Officer | 4 | $145,897 | $518,059 | $97,800 |
| Robert M Wallace | Trustee, President Trustee or director, Officer | 4 | $180,754 | $482,702 | $97,800 |
| Lynn P Carter | Trustee Trustee or director | 4 | $74,707 | $588,749 | $97,800 |
| Joan S Dunlap | Trustee,VP,Assistant Secretary Trustee or director, Officer | 8 | $103,872 | $396,214 | $88,019 |
| Brian W Crozier | Trustee, Chairman Trustee or director, Officer | 6 | $74,907 | $270,599 | $50,086 |
| Thomas J Brorby Deceased | Trustee, Chairman Trustee or director, Officer | 6 | $62,084 | $224,878 | $16,600 |
| Robert L Evans Jr | VP, Assistant Treasurer Officer | 0 | $0 | $210,000 | $81,846 |
| John Russell Beekman | Vice President Officer | 10 | $0 | $113,678 | $39,925 |
| Christopher MacKenzie | Vice President, Secretary Officer | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 402 N DIVISION ST, CARSON CITY, NV 89703-4168
- Principal officer (990 for 2024)
- Robert M Wallace
- Signed the 990
- Jarred W Sloan, Vice President & Treasurer
- Phone
- (713) 817-5259
Mission
To advance medical and scientific research through the transfer of technology from the laboratory to public use by obtaining patents and licenses and administering patents arising out of discoveries made pursuant to research conducted or sponsored by Clayton Foundation for Research and its supporting organizations.
Program accomplishments
- Research Development Foundation (RDF) is established to transfer medical and scientific technology from the lab to the public use by obtaining patents and licenses and administering patents arising out of discoveries made pursuant to medical research conducted or sponsored by Clayton Foundation for Research, a medical research organization described in Section 170(b)(1)(A)(iii) ("Clayton"), and by supporting organizations to Clayton. RDF's current patent portfolio contains approximately 200 patent applications and issued patents on discoveries that have been made in the course of the various research projects that have been conducted by Clayton or funded by another supporting entity of Clayton over the years. RDF has entered into numerous licenses of such discoveries to pharmaceutical and startup companies and fifteen of such discoveries have already led to products that have been brought to market by the licensee and are benefiting mankind. RDF has collected millions of dollars in royalties from its licensing activities over the years.Expenses $15,639,214 · grants $250,000
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
- 88-0234325
- 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
- 1988
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $51,172,587
- Income (IRS master file)
- $6,153,203
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $6,153,203 | $15,954,732 | $51,172,587 | XML |
| 990 | December 2023 | $4,800,082 | $16,802,510 | $47,741,944 | XML |
| 990 | December 2022 | $5,465,008 | $12,137,887 | $53,552,306 | 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 88-0234325).
Questions about RESEARCH DEVELOPMENT FOUNDATION
- What is the EIN of RESEARCH DEVELOPMENT FOUNDATION?
- The employer identification number (EIN) of RESEARCH DEVELOPMENT FOUNDATION is 88-0234325.
- Is RESEARCH DEVELOPMENT FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1988.
- Are donations to RESEARCH DEVELOPMENT FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does RESEARCH DEVELOPMENT 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 RESEARCH DEVELOPMENT 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 RESEARCH DEVELOPMENT 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 RESEARCH DEVELOPMENT FOUNDATION?
- The 990 for the year ended December 31, 2024 names Robert M Wallace.
- Who are the officers and directors of RESEARCH DEVELOPMENT FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 8 people; 5 received compensation from the organization, the highest $186,901 (Robert M Wallace, Trustee, President).
- How much revenue does RESEARCH DEVELOPMENT FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $6,153,203, expenses of $15,954,732 and total assets of $51,172,587 at year end.
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