UMBC RESEARCH PARK CORPORATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1994

Legal Domicile

Principal Officer

AARON MISCENICH

Phone

4104556778

Tax Period

2024-07-01 to 2025-06-30

UMBC RESEARCH PARK CORPORATION INC, founded in 1994, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2024. Revenue fell 26% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $964K, a strong 32% operating margin.

Mission

TO DEVELOP AND MANAGE THE RESEARCH AND TECHNOLOGY PARK FOR UMBC TO FACILITATE RESEARCH COLLABORATIONS, TECH TRANSFER, AND TO CREATE JOBS.

Program Service Accomplishments

Program 1

Expenses: $1,306,706

PROVIDE PROJECT MANAGEMENT AND PROGRAM SUPPORT FOR INCUBATOR, TECHNOLOGY COMMERCIALIZATION, AND ENTREPRENEURIAL TRAINING ACTIVITIES RELATED TO UMBC'S INCUBATORS AND RESEARCH PARK AND ECONOMIC...

PROVIDE PROJECT MANAGEMENT AND PROGRAM SUPPORT FOR INCUBATOR, TECHNOLOGY COMMERCIALIZATION, AND ENTREPRENEURIAL TRAINING ACTIVITIES RELATED TO UMBC'S INCUBATORS AND RESEARCH PARK AND ECONOMIC DEVELOPMENT MISSION.

Program 2

Expenses: $443,807 Revenue: $117,838

DEVELOPMENT AND SUBLEASING OF A 41-ACRE RESEARCH PARK KNOWN AS BWTECH @ UMBC RESEARCH AND TECHNOLOGY PARK.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $235,479

Program Service Revenue $117,838

Investment Income $1,219,539

Other Revenue $1,466,779

TOTAL REVENUE $3,039,635

Expense Breakdown

Grants Paid $0

Salaries & Benefits $303,935

Fundraising Expenses $0

Program Expenses $1,750,513

Other Expenses $1,771,848

TOTAL EXPENSES $2,075,783

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,039,635	$4,129,864	-0.3%
Expenses	$2,075,783	$1,986,228	+0.0%
Net Income	$963,852	$2,143,636	-0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$123,540

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AARON MISCENICH	EXECUTIVE DIRECTOR	20.00	Officer	$123,540	$0	$123,540
MATT ROBERSON	TRUSTEE	3.00	Officer	$0	$0	$0
JEFF ARMIGER	TRUSTEE	3.00	Officer	$0	$0	$0
AYINDE STEWART	TRUSTEE	3.00	Officer	$0	$0	$0
DR NILANJAN BANERJEE	TRUSTEE	3.00	Officer	$0	$0	$0
DR CHARLES BIEBERICH	TRUSTEE	3.00	Officer	$0	$0	$0
CHRISTPHER BRANDT	TRUSTEE	3.00	Officer	$0	$0	$0
GEORGE DAVIS	TRUSTEE	3.00	Officer	$0	$0	$0
KEVIN GLOVER	TRUSTEE	3.00	Officer	$0	$0	$0
JEREL REGISTRE	EX-OFFICIO TRUSTEE	3.00	Officer	$0	$0	$0
DR VALERIE SHEARES ASHBY	EX-OFFICIO TRUSTEE	1.00	Officer	$0	$0	$0
JONATHAN SACHS	EX-OFFICIO TRUSTEE	3.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$3,039,635	$2,075,783	$22,177,469	$963,852
2024	$4,129,864	$1,986,228	$22,278,012	$2,143,636
2023	$2,097,184	$1,858,457	$17,989,154	$238,727
2022	$2,349,728	$2,037,922	$15,391,985	$311,806
2021	$2,322,510	$1,901,111	$16,806,206	$421,399
2020	$2,112,921	$1,855,626	$14,616,876	$257,295
2019	$2,864,694	$1,889,210	$14,184,177	$975,484