2024-05-08T09:44:41-05:00 2023-06-30 366055558 GRANT THORNTON LLP 75 STATE STREET 13TH FLOOR BOSTON MA 02109 990 2022-07-01 263166908 NATIONAL AEROSPACE RESEARCH AND TECHNOLOGY PARK INC NATI 6093652183 600 AVIATION RESEARCH BLVD STE 120 EGG HARBOR TOWNSHIP NJ 08234 HOWARD KYLE PRESIDENT 6093652183 2024-05-08 1 HOWARD KYLE 999009999 0 ERIN COUTURE P01390592 6177237900 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z HOWARD KYLE 600 AVIATION RESEARCH BLVD STE 120 EGG HARBOR TOWNSHIP NJ 08234 694464 0 X WWW.NARTP.COM X 2006 NJ THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE LEADERSHIP IN THE ADVANCEMENT OF AEROSPACE SCIENCES BY CREATING AN ECOSYSTEM OF INDUSTRY, ACADEMIC, AND GOVERNMENTAL PARTNERSHIPS TO FOSTER INNOVATION, COLLABORATION AND SUSTAINABLE ECONOMIC GROWTH. 19 17 0 17 0 0 686696 694464 0 0 0 0 0 0 686696 694464 0 0 0 0 0 0 0 0 0 683812 770164 683812 770164 2884 -75700 816931 825422 4357277 4441468 -3540346 -3616046 TO PROVIDE LEADERSHIP IN THE ADVANCEMENT OF AEROSPACE SCIENCES BY CREATING AN ECOSYSTEM OF INDUSTRY, ACADEMIC, AND GOVERNMENTAL PARTNERSHIPS TO FOSTER INNOVATION, COLLABORATION AND SUSTAINABLE ECONOMIC GROWTH. 0 0 480685 THE PURPOSE OF THE PARK IS TO CONDUCT RESEARCH AND DEVELOPMENT THAT WILL PROMOTE CONCEPT AND PRODUCT DEVELOPMENT USING EMERGING TECHNOLOGIES IN A LABORATORY AND OPERATIONAL ENVIRONMENT. THE PARK IS A FOCAL POINT FOR INTERACTION AND INNOVATION AMONG RESEARCHERS, ACADEMIC, GOVERNMENT, AND PRIVATE INDUSTRY IN DEVELOPING THE NEXT GENERATION AIR TRAFFIC CONTROL SYSTEM ("NEXTGEN") WHICH IS CRITICAL TO OUR NATION'S AVIATION SYSTEM. 480685 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 19 17 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 1 1 0 0 0 X X JENNIFER POTTER VP FOR ADMINISTRAT 6096524381 101 VERA KING FARRIS DR GALLOWAY NJ 08205 DR HARVEY KESSELMAN DIRECTOR (PRESIDENT OF UNIV.) 2.00 33.00 X 0 512253 169830 MICHAEL ANGULO ESQ DIRECTOR (UNIV. VP GOVT REL) 2.00 33.00 X 0 217812 39034 SAMUEL YOUNG VICE-CHAIR 2.00 0.00 X X 0 0 0 MARK LOEBEN CHAIR 2.00 0.00 X X 0 0 0 STEPHEN MAZUR TREASURER 2.00 0.00 X X 0 0 0 LAUREN MOORE SECRETARY 2.00 0.00 X X 0 0 0 TIM EDMUNDS DIRECTOR 2.00 0.00 X 0 0 0 CHRISTINA FUENTES DIRECTOR 2.00 0.00 X 0 0 0 DR STEVE HAMPTON DIRECTOR 2.00 0.00 X 0 0 0 DR ANNE HARLAN EMERITUS DIRECTOR 2.00 0.00 X 0 0 0 DR BARBARA GABA DIRECTOR 2.00 0.00 X 0 0 0 FRANK LOBIONDO DIRECTOR 2.00 0.00 X 0 0 0 DR ANTHONY LOWMAN DIRECTOR 2.00 0.00 X 0 0 0 DR EDWARD SALMON EMERITUS DIRECTOR 2.00 0.00 X 0 0 0 DR DOUGLAS STANLEY DIRECTOR 2.00 0.00 X 0 0 0 DR ALBERTO CUITINO DIRECTOR 2.00 0.00 X 0 0 0 DAVID SWEET DIRECTOR 2.00 0.00 X 0 0 0 ERIK ARMSTRONG STUDENT DIRECTOR 2.00 0.00 X 0 0 0 ROCCO MANCUSO STUDENT DIRECTOR 2.00 0.00 X 0 0 0 ANTHONY PAGANO DIRECTOR 2.00 0.00 X 0 0 0 SEAN PATTWELL DIRECTOR 2.00 0.00 X 0 0 0 JAYDEN CRAFT END 122022 STUDENT DIRECTOR 2.00 0.00 X 0 0 0 TIM SULLIVAN END 122022 DIRECTOR 2.00 0.00 X 0 0 0 MEG WORTHINGTON END 122022 DIRECTOR 2.00 0.00 X 0 0 0 IAN MAUL END 122022 STUDENT DIRECTOR 2.00 0.00 X 0 0 0 HOWARD KYLE PRESIDENT 40.00 0.00 X 157719 0 0 157719 730065 208864 1 0 1 1 0 694464 694464 694464 0 0 0 X 198512 132749 65763 55378 55378 17695 17695 241347 141347 100000 438 438 7044 7044 35000 35000 720 720 70661 70661 5040 5040 8599 8599 GENERAL MAINTENANCE 122263 122263 DUES AND MEMBERSHIPS 4077 4077 LICENSES AND FEES 3289 3289 POSTAGE/SHIPPING 93 93 8 8 770164 480685 289479 0 X 555251 693110 42200 2913 11 113194 28164 118290 17055 106275 101235 0 0 0 0 0 0 816931 825422 58385 12661 676564 735819 1854766 1883767 1767562 1809221 4357277 4441468 X -3540346 -3616046 -3540346 -3616046 816931 825422 -75700 0 X 0 1 X 1 0 X 312789 824599 302472 686696 694464 2821020 312789 824599 302472 686696 694464 2821020 2821020 2821020 22916 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 106845 8744 98101 11445 8311 3134 0 101235 LOAN PAYABLE TO UNIVERSITY 1441700 INTEREST PAYABLE TO UNIVERSITY 367521 1809221 X 762122 67658 67658 694464 0 694464 837822 67658 67658 770164 0 770164 PART X, LINE 2: ASC 740 (FIN 48) FOOTNOTE THE ORGANIZATION FOLLOWS THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) GUIDANCE THAT REQUIRES A TAX POSITION TO BE RECOGNIZED OR DERECOGNIZED BASED ON A MORE LIKELY THAN NOT THRESHOLD TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE ORGANIZATION DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY MATERIAL UNCERTAIN TAX POSITIONS FOR WHICH RECOGNITION OR DISCLOSURE IS WARRANTED. NO INTEREST OR PENALTIES WERE RECOGNIZED IN FISCAL YEAR 2023. THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXATION, BUT IT MAY BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. 0 1 0 0 0 0 0 0 0 DR HARVEY KESSELMAN DIRECTOR (PRESIDENT OF UNIV.) 0 409475 0 0 0 102778 0 169400 0 430 0 682083 0 0 MICHAEL ANGULO ESQ DIRECTOR (UNIV. VP GOVT REL) 0 215743 0 0 0 2069 0 18205 0 20829 0 256846 0 0 HOWARD KYLE PRESIDENT 157719 0 0 0 0 0 0 0 0 0 157719 0 0 0 SCHEDULE J, PART I, LINE 4B: DR. KESSELMAN PARTICIPATES IN THREE IRC SECTION 457(F) PLANS. STOCKTON UNIVERSITY, A RELATED ORGANIZATION, CONTRIBUTED $145,000 DURING THE CALENDAR YEAR TO THE PLANS. SCHEDULE J, PART II, LINE 3(I) HOWARD KYLE'S COMPENSATION FOR SERVICES AT NARTP IS PAID BY ATLANTIC COUNTY ECONOMIC ALLIANCE (ACEA), AN UNRELATED ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 1A GOVERNING BODY DELEGATE AUTHORITY TO ACT ON ITS BEHALF THE EXECUTIVE COMMITTEE OF THE BOARD SHALL CONSIST OF THE CHAIR, VICE CHAIR, SECRETARY, TREASURER, AND PRESIDENT OF THE ORGANIZATION. IN ADDITION, THE BOARD MAY IN ITS DISCRETION APPOINT AN ADDITIONAL MEMBER OF THE BOARD TO SERVE ON THE EXECUTIVE COMMITTEE. THE TERM OF ANY SUCH APPOINTMENT, IF MADE IN ANY GIVEN YEAR, SHALL BE ONE YEAR PROVIDED SUCH INDIVIDUAL CONTINUES TO SERVE AS A BOARD MEMBER. TO THE EXTENT ALLOWED BY LAW, THE EXECUTIVE COMMITTEE SHALL BE VESTED WITH ALL THE POWERS AND OBLIGATIONS OF THE BOARD OF DIRECTORS IN BETWEEN BOARD MEETINGS. ANY TIME IMMEDIATE ACTION IS REQUIRED TO BE TAKEN BY THE EXECUTIVE COMMITTEE SUCH ACTION SHALL BE RATIFIED AT THE NEXT REGULARLY SCHEDULED BOARD MEETING. AT ALL MEETINGS OF THE EXECUTIVE COMMITTEE, A MAJORITY OF THE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE NECESSARY AND SUFFICIENT TO CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS; AT A MEETING AT WHICH THERE IS A QUORUM PRESENT, ACTION BY A MAJORITY OF A QUORUM SHALL BE THE ACT OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS STOCKHOLDERS WHO MAY ELECT THE BOARD OF DIRECTORS IS APPOINTED BY THE BOARD OF TRUSTEES OF STOCKTON UNIVERSITY. THE PRESIDENT OF THE UNIVERSITY NOMINATES THE MEMBERS OF THE BOARD OF DIRECTORS. THE PRESIDENT OF STOCKTON UNIVERSITY, OR HIS/HER DESIGNEE WILL HAVE CONTINUOUS APPOINTMENT ON THE BOARD. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEE MEETINGS WHILE THERE ARE NO FORMAL MINUTES TAKEN AT AUTHORIZED COMMITTEE MEETINGS, STAFF SUPPORT MEMBERS PRESENT DO TAKE NOTES REGARDING DECISIONS THAT ARE MADE AND FOLLOW-UP ACTIONS THAT MUST BE TAKEN. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED BY AN OUTSIDE PUBLIC ACCOUNTING FIRM BASED ON INFORMATION SUBMITTED BY MANAGEMENT OF THE ORGANIZATION. THE PREPARED 990 IS REVIEWED BY THE CHAIR OF FINANCE AND AUDIT COMMITTEE AND THEN ELECTRONICALLY SENT TO EACH VOTING MEMBER OF THE BOARD OF DIRECTORS FOR THE REVIEW AND COMMENT PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C WRITTEN CONFLICT OF INTEREST POLICY THE CONFLICT OF INTEREST POLICY IS REVIEWED AND FORMS ARE COMPLETED ANNUALLY. THE FORMS ARE REVIEWED BY MANAGERIAL LEVEL STAFF. ALL INDIVIDUALS WITH DECISION MAKING AUTHORITY ARE COVERED UNDER THE POLICY. POTENTIAL CONFLICTS ARE REVIEWED BETWEEN THE PRESIDENT OF THE UNIVERSITY AND THE BOARD CHAIR OF NARTP. ACTUAL CONFLICTS ARE DISCUSSED BY THE BOARD. PERSONS WITH A CONFLICT ARE REQUIRED TO RECUSE THEMSELVES FROM DISCUSSION OF THE SUBSTANCE OF ANY MATTER TOUCHING ON THE CONFLICT AND TO REFRAIN FROM PARTICIPATING IN ANY DECISIONS RELATING TO THE AREA OF CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 DETERMINING COMPENSATION OF ORGANIZATION TOP MANAGEMENT OFFICIAL THE ORGANIZATION DOES NOT ITSELF COMPENSATE ANY OF THE TOP MANAGEMENT OFFICIALS OR OTHER OFFICERS OF THE ORGANIZATION. A RELATED ORGANIZATION ESTABLISHES THE COMPENSATION OF THOSE INDIVIDUALS COMPENSATED BY THAT ENTITY. STOCKTON UNIVERSITY PARTICIPATES IN THE NEW JERSEY ASSOCIATION OF STATE COLLEGES AND UNIVERSITIES (NJASCU). THE PRESIDENTS OF THE MEMBER SCHOOLS OF NJASCU REGULARLY SHARE INFORMATION AND CONFER ABOUT THE SALARIES OF THE TOP-LEVEL POSITIONS AT THEIR INSTITUTIONS. IN ADDITION, AS WITH ALL PUBLIC EMPLOYEES IN NEW JERSEY, THE SALARY OF THE EXECUTIVE DIRECTOR IS SUBJECT TO PUBLIC DISCLOSURE AND REVIEW. FORM 990, PART VI, SECTION C, LINE 19 ORGANIZATION MADE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G BOOKKEEPING: PROGRAM SERVICE EXPENSES 3,550. TOTAL EXPENSES 3,550. CONSULTING: PROGRAM SERVICE EXPENSES 22,640. TOTAL EXPENSES 22,640. ENGINEERING SERVICES: PROGRAM SERVICE EXPENSES 61,624. TOTAL EXPENSES 61,624. LEGAL SETTLEMENT: MANAGEMENT AND GENERAL EXPENSES 100,000. TOTAL EXPENSES 100,000. MARKETING: PROGRAM SERVICE EXPENSES 53,533. TOTAL EXPENSES 53,533. FORM 990, PART X, LINE 23: UNSECURED NOTES AND LOANS PAYABLE TO UNRELATED THIRD PARTIES LOAN PAYABLE TO CASINO REINVESTMENT DEVELOPMENT AUTHORITY, NET OF UNAMORTIZED DISCOUNT OF $727,615 AT JUNE 30, 2023 $1,946,385 LESS: DEFERRED FINANCING COSTS, NET ($62,618) ADJUSTED SECURED MORTGAGES & N/P TO UNRELATED 3RD PARTIES $1,883,767 STOCKTON UNIVERSITY 101 VERA KING FARRIS DRIVE GALLOWAY NJ 08205 222832788 HIGHER EDUCATION NJ 501(C)(3) LINE 6 N/A 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0