SRCCO
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.
SRCCO at a glance
In short: SRCCO gave $47.1M across 8 grants in 2024 (avg $5.9M), top state New York. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $47,057,336
- -21.0% vs 2023
- Grants made (2024)
- 8
- -46.7% vs 2023
- Average grant
- $5,882,167
- +48.1% vs 2023
- Median grant
- $6,748,893
- Total assets
- $44,126,161
- +15.4% vs 2023
- Primary geography
- New York (29% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
Who SRCCO funds
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
The largest 2024 recipient was Georgia Tech Research Corporation ($11.9M). Together the top 8 received $47.1M.
Grant Size Distribution
70 grants across all recorded years
The most common grant size was $5M or more: 28 grants of 70 (40%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 8 itemized grants.
States
Cities
How SRCCO gives
- Giving held roughly steady from 2021 to 2024 (+1%). Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $37.0M (2022) to $59.6M (2023). In 2024 it made 8 grants totaling $47.1M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Georgia Tech Research Corporation Atlanta, GA | University Research | $11,915,919 |
| The Regents of the Univ of CA San Diego La Jolla, CA | University Research | $7,600,000 |
| The Trustees of the Columbia Univ in NYC New York, NY | University Research | $6,980,176 |
| Cornell University Ithaca, NY | University Research | $6,797,785 |
| The Pennsylvania State University Univ Park, PA | University Research | $6,700,000 |
| The Board of Trustees of the Univ of IL Urbana, IL | University Research | $6,407,419 |
| National Science Foundation Alexandria, VA | University Research | $600,000 |
| The Regents of the Univ of Michigan Ann Arbor, MI | University Research | $56,037 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $44,126,161 | $53,548,337 | $50,262,472 | $47,057,336 | 8 | $617,389 |
| 2023 | $38,241,286 | $44,484,022 | $61,911,717 | $59,574,671 | 15 | $403,897 |
| 2022 | $42,830,224 | $45,012,595 | $39,505,984 | $36,998,734 | 11 | $132,698 |
| 2021 | $42,497,453 | $49,465,239 | $48,931,880 | $46,459,823 | 11 | $6,180 |
| 2020 | $36,492,507 | $48,050,657 | $51,521,998 | $48,747,066 | 25 | $127,014 |
About SRCCO
Based on IRS filings
SRCCO is a public charity focused on Community Improvement & Capacity Building, based in Durham, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $44.1M in total assets. In 2024, it awarded 8 grants totaling $47.1M. Net investment income was $617K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
SRCCO is led by Todd Younkin, President & CEO on every filing since 2020; all 4 officers listed in 2024 are compensated.
Officers on the 2024 filing
Todd Younkin
President & CEO
On filings since 2020
17 hrs/week
$198K (2020) → $285K (2024)
Karen Di Spigna
Chief Accounting Officer
On filings since 2020
19 hrs/week
$80K (2020) → $90K (2024)
David Henshall
Vice President of Business Development
On filings since 2021
16 hrs/week
$55K (2021) → $107K (2024)
Adam Knapp
Program Manager
On filings since 2023
29 hrs/week
$149K (2023) → $112K (2024)
Former officers (4)
- Former: Roman Caudillo (2023) — Program Director
- Former: Timothy Green (2021–2022) — Program Director
- Former: An Chen (2020–2021) — Program Director
- Former: Kenneth Hansen (2020) — President & CEO
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $285K, to Todd Younkin (President & CEO). 4 officers or directors reported compensation on that filing.
Frequently asked questions about SRCCO
How much does SRCCO give each year?
SRCCO gave $47.1M across 8 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $59.6M across 15 grants.
What is SRCCO's typical grant size?
SRCCO's median grant in 2024 was $6,748,893, and its average grant was $5,882,167, across 8 grants on its 2024 IRS Form 990.
Where does SRCCO give grants?
SRCCO's top state is New York, with 29% of the grant dollars itemized on its 2024 IRS Form 990. The next largest states were Georgia (25%) and California (16%).
Does SRCCO give general operating support?
Not in 2024: none of the 8 grants with a stated purpose on SRCCO's 2024 IRS Form 990 were described as general or operating support. Recurring purposes include "University Research" (8 grants).
Who are SRCCO's largest grantees?
SRCCO's largest 2024 grantees include Georgia Tech Research Corporation ($11,915,919), The Regents of the Univ of CA San Diego ($7,600,000) and The Trustees of the Columbia Univ in NYC ($6,980,176), according to its 2024 IRS Form 990. Together they received 56% of its itemized 2024 grant dollars.
How large is SRCCO?
SRCCO reported $44.1M in total assets on its 2024 IRS Form 990. Its revenue that year was $53.5M.
What is SRCCO?
SRCCO is a public charity focused on Community Improvement & Capacity Building, based in Durham, NC. It holds $44.1M in total assets as of 2024.
What is SRCCO's EIN?
SRCCO's EIN (Employer Identification Number) is 56-2038762. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 11, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS October 31, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS October 6, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS July 10, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS July 23, 2025)
- IRS filings on file for fiscal years 2020–2024
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SRCCO down — hundreds of funders to go?