2024-05-07T15:48:31-05:00 2023-06-30 135565207 KPMG LLP 515 BROADWAY 4TH FLOOR ALBANY NY 122072974 990 2022-07-01 844046818 NEW YORK CENTER FOR RESEARCH ECONOMIC ADVANCEMENT TECHNOLOGY ENGINEERING AND NEWY 5189567322 257 FULLER RD ALBANY NY 12203 TIMOTHY TAYLOR CFO 5189567322 2024-05-07 1 TIMOTHY TAYLOR 999009999 0 MARILYN E FARLEY P01231880 5184274600 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z NY CREATES DAVID ANDERSON 257 FULLER RD ALBANY NY 12203 17502814 0 X NY-CREATES.ORG X 2018 NY THE NEW YORK CENTER FOR RESEARCH, ECONOMIC ADVANCEMENT, TECHNOLOGY, ENGINEERING AND SCIENCE CORPORATION (NY CREATES) FORMED FOR THE PURPOSE OF ADVANCING SCIENTIFIC RESEARCH, EDUCATION AND ECONOMIC DEVELOPMENT WITHIN NEW YORK STATE. SPECIFICALLY, THE PURPOSE OF NY CREATES IS TO FACILITATE THE ATTRACTION AND EXPANSION OF INNOVATIVE RESEARCH AND DEVELOPMENT PROJECTS AND FACILITIES, AND TO DEVELOP STRATEGIC ASSETS THAT SUPPORT THE GROWTH OF HIGH TECHNOLOGY COMPANIES THROUGHOUT THE STATE IN COOPERATION WITH THE STATE UNIVERSITY OF NEW YORK (SUNY) AND THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION D/B/A/ EMPIRE STATE DEVELOPMENT (ESD). 9 9 0 10 0 0 0 5000000 0 0 0 0 6615819 12502814 6615819 17502814 0 0 0 0 0 0 0 0 0 5280820 11442867 5280820 11442867 1334999 6059947 1449531 7538258 14567 43347 1434964 7494911 X THE NEW YORK CENTER FOR RESEARCH, ECONOMIC ADVANCEMENT, TECHNOLOGY, ENGINEERING AND SCIENCE CORPORATION (NY CREATES) FORMED FOR THE PURPOSE OF ADVANCING SCIENTIFIC RESEARCH, EDUCATION AND ECONOMIC DEVELOPMENT WITHIN NEW YORK STATE. SPECIFICALLY, THE PURPOSE OF NY CREATES IS TO FACILITATE THE ATTRACTION AND EXPANSION OF INNOVATIVE RESEARCH AND DEVELOPMENT PROJECTS AND FACILITIES, AND TO DEVELOP STRATEGIC ASSETS THAT SUPPORT THE GROWTH OF HIGH TECHNOLOGY COMPANIES THROUGHOUT THE STATE IN COOPERATION WITH THE STATE UNIVERSITY OF NEW YORK (SUNY) AND THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION D/B/A/ EMPIRE STATE DEVELOPMENT (ESD). 0 0 11442867 0 12502814 NY CREATES RECEIVED A PAYMENT IN THE AMOUNT OF $12,502,814 FROM FULLER ROAD MANAGEMENT CORPORATION. 11442867 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 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 1 0 0 0 1 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 NY X TIMOTHY TAYLOR 5189567417 257 FULLER ROAD ALBANY NY 12203 MICHAEL ABBOTT DIRECTOR 0.50 0.50 X 0 0 0 ANITA BROWN DIRECTOR 0.50 0.50 X 0 0 0 CHRISTINE CHUNG DIRECTOR 0.50 0.50 X 0 0 0 HEATHER HAGE DIRECTOR 0.50 0.50 X 0 0 0 DOREEN HARRIS DIRECTOR 0.50 0.50 X 0 0 0 MENG-LING HSIAO DIRECTOR 0.50 0.50 X 0 0 0 JOAN MCDONALD DIRECTOR 0.50 0.50 X 0 0 0 KRISTIN PROUD DIRECTOR 0.50 0.50 X 0 0 0 KENNETH TOMPKINS DIRECTOR 0.50 0.50 X 0 0 0 PATRICIA ARCIERO-CRAIG CAO, ACTING GENERAL COUNSEL 1.00 31.00 X 256392 0 51477 TIMOTHY TAYLOR CFO 1.00 24.00 X 202060 0 104485 DAVID ANDERSON PRESIDENT 1.00 19.00 X 284287 0 10597 PAUL KELLY COO 1.00 7.00 X 202303 0 47942 PATRICIA BUCKLIN SECRETARY 1.00 39.00 X 168046 0 16028 SCOTT BATEMAN TREASURER 0.50 0.50 X 0 0 0 DOUG GROSE PAST PRES/CHAIRMAN, DIR 0.00 0.00 X 183076 0 0 1296164 0 230529 6 1 1 1 0 5000000 5000000 PAYMENT FROM FRMC 900099 12502814 12502814 12502814 17502814 12502814 0 0 X 22735 22735 3457744 3457744 175429 175429 24825 24825 222201 222201 4569180 4569180 PAYMENT TO THE RF 2000000 2000000 CONSULTANTS 857780 857780 REPAIRS AND MAINTENANCE 101352 101352 SUBSCRIPTIONS 11621 11621 11442867 11442867 0 0 1210031 7094064 0 0 0 0 0 0 0 0 0 0 0 0 0 0 99500 65000 0 0 0 0 0 0 0 0 0 0 0 0 140000 379194 1449531 7538258 14567 43347 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14567 43347 X 1434964 2494911 0 5000000 1434964 7494911 1449531 7538258 6059947 0 X 0 1 X 1 0 X 5000000 5000000 5000000 5000000 5000000 4450000 6615819 12502814 23568633 28568633 0.17500 X PURSUANT TO TREAS. REG. SEC. 1.170A-9(F)(3), THE NEW YORK CENTER FOR RESEARCH, ECONOMIC ADVANCEMENT, TECHNOLOGY, ENGINEERING AND SCIENCE CORPORATION (NY CREATES) SATISFIES THE 10% FACTS-AND-CIRCUMSTANCES TEST. NY CREATES IS ORGANIZED AND OPERATED TO ATTRACT SUPPORT ON A CONTINUOUS BASIS, MAINTAINS A BONA FIDE FUNDRAISING PROGRAM AND CARRIES ON ACTIVITIES TO ATTRACT SUPPORT FROM GOVERNMENTAL UNITS AND PUBLIC CHARITIES. NY CREATES DOES THIS BY HAVING A STRONG WORKING RELATIONSHIP WITH NEW YORK STATE AND IS CONDUCTING OPERATIONS WHERE IT EXPECTS TO RECEIVE GOVERNMENTAL SUPPORT ON AN ONGOING AND CONTINUOUS BASIS. THE ORGANIZATION ALSO EXPECTS TO RECEIVE GRANTS FROM NEW YORK STATE WHICH HAVE ALREADY BEEN APPROVED.NY CREATES' PRIMARY SOURCES OF SUPPORT DURING FISCAL YEAR ENDED JUNE 30, 2023 WAS A PAYMENT FROM AN AFFILIATE AND A CONTRIBUTION FROM A PUBLICLY SUPPORTED CHARITY DESCRIBED IN SECTION 170(B)(1)(VI). IN FUTURE YEARS, IT EXPECTS TO RECEIVE CONTRIBUTIONS FROM NEW YORK STATE, A GOVERNMENTAL UNIT, AND FURTHER CONTRIBUTIONS FROM A PUBLICLY SUPPORTED CHARITY. THE ORGANIZATION DOES NOT EXPECT TO RECEIVE LARGE CONTRIBUTIONS FROM A SINGLE FAMILY OR COMPANY. AS SUCH, THE ORGANIZATION IS EXPECTED TO INCREASE ITS PUBLIC SUPPORT PERCENTAGE IN FUTURE YEARS WITH A LARGE PERCENTAGE OF SUPPORT FROM THE PUBLIC INCLUDING A GOVERNMENTAL UNIT AND PUBLICLY SUPPORTED CHARITY. NY CREATES ALSO HAS A BOARD OF DIRECTORS WITH A DIVERSE BACKGROUND RATHER THAN A BOARD REPRESENTING PRIVATE INTERESTS OR A LIMITED NUMBER OF DONORS. THE DIVERSE BOARD COMPOSITION INCLUDES PUBLIC OFFICIALS, EDUCATORS, CIVIC LEADERS, AND NON-PROFIT ORGANIZATION LEADERS. THESE DIRECTORS ARE ALSO LEADERS IN THEIR FIELDS WHO HAVE SPECIAL KNOWLEDGE AND EXPERTISE IN ECONOMIC DEVELOPMENT.NY CREATES WAS FORMED TO ADVANCE SCIENTIFIC RESEARCH, EDUCATION AND ECONOMIC DEVELOPMENT WITHIN NEW YORK STATE. ITS PURPOSE IS TO FACILITATE THE ATTRACTION AND EXPANSION OF INNOVATIVE RESEARCH AND DEVELOPMENT OF PROJECTS AND FACILITIES, AND TO DEVELOP STRATEGIC ASSETS THAT SUPPORT THE GROWTH OF HIGH TECHNOLOGY COMPANIES THROUGHOUT THE STATE IN COOPERATION WITH THE STATE UNIVERSITY OF NEW YORK AND EMPIRE STATE DEVELOPMENT. THESE ACTIVITIES ARE CONDUCTED TO BENEFIT THE GENERAL PUBLIC AS A WHOLE BY CREATING AND EXPANDING RESEARCH AND HIGH TECHNOLOGY ECONOMIC GROWTH IN THE STATE. SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PAYMENT FROM FRMC - 2020 AMOUNT: $ 4,450,000. 2021 AMOUNT: $ 6,615,819. 2022 AMOUNT: $ 12,502,814. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE FROM MEMBER 379194 379194 X PART X, LINE 2: THE CORPORATION APPLIES THE PROVISIONS OF ASC 740-10, ACCOUNTING FOR UNCERTAINTY OF INCOME TAXES, WHICH ADDRESSES ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN AN ENTITY'S CONSOLIDATED FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF MORE-LIKELY THAN-NOT FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. ASC 740-10 ALSO PROVIDES GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURES OF TAX UNCERTAINTIES. MANAGEMENT HAS EVALUATED ASC 740-10 AND HAS CONCLUDED THAT THERE ARE NO UNCERTAIN INCOME TAX POSITIONS THAT IMPACT THE CORPORATION'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2023 AND 2022. X 0 0 0 0 0 0 0 0 0 PATRICIA ARCIERO-CRAIG CAO, ACTING GENERAL COUNSEL 256392 0 0 0 0 0 21541 0 29936 0 307869 0 0 0 TIMOTHY TAYLOR CFO 202060 0 0 0 0 0 36452 0 68033 0 306545 0 0 0 DAVID ANDERSON PRESIDENT 284287 0 0 0 0 0 0 0 10597 0 294884 0 0 0 PAUL KELLY COO 202303 0 0 0 0 0 24678 0 23264 0 250245 0 0 0 PATRICIA BUCKLIN SECRETARY 168046 0 0 0 0 0 15547 0 481 0 184074 0 0 0 DOUG GROSE PAST PRES/CHAIRMAN, DIR 183076 0 0 0 0 0 0 0 0 0 183076 0 0 0 PART II - COMPENSATION FROM UNRELATED ORGANIZATIONS COMPENSATION FOR TIMOTHY TAYLOR WAS PAID BY THE STATE UNIVERSITY OF NEW YORK, AN UNRELATED ENTITY, AND WAS PARTIALLY REIMBURSED THROUGH A GRANT. COMPENSATION FOR DOUG GROSS WAS PAID BY NY CREATES AS AN INDEPENDENT CONTRACTOR. COMPENSATION FOR THE OTHER PEOPLE LISTED WAS PAID BY THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK, ANOTHER UNRELATED ENTITY, AND WAS WHOLLY OR PARTIALLY REIMBURSED BY THE CORPORATION. THE COMPENSATION REPORTED ON SCHEDULE J PART II IS THE FULL COMPENSATION PAID TO EACH INDIVIDUAL. A PORTION OF THEIR TIME WAS SPENT WORKING FOR THE REPORTING ORGANIZATIONS AND ITS RELATED ORGANIZATIONS, AS REPORTED ON SCHEDULE R. FORM 990, PART I, LINE 5 & PART V, LINE 2A - NUMBER OF EMPLOYEES COMPENSATION FOR DOUG GROSS WAS PAID BY NY CREATES AS AN INDEPENDENT CONTRACTOR. THE REMAINING FIVE INDIVIDUALS INCLUDED IN FORM 990 PART VII LINE 1A WERE PAID BY UNRELATED ORGANIZATIONS. THEREFORE NO EMPLOYEES ARE REPORTED ON FORM 990 PART I, LINE 5 OR PART V, LINE 2A. FORM 990, BOX C THE NAME OF THE ORGANIZATION WAS TRUNCATED ON FORM 990, BOX C DUE TO CHARACTER LIMITATIONS IN THIS FIELD. THE COMPLETE NAME OF THE ORGANIZATION IS: NEW YORK CENTER FOR RESEARCH, ECONOMIC ADVANCEMENT TECHNOLOGY, ENGINEERING AND SCIENCE CORPORATION. FORM 990, PART VI, SECTION A, LINE 6 THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK (THE RESEARCH FOUNDATION) AND SUNY POLYTECHNIC FOUNDATION, INC (SPF) ARE THE MEMBERS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK (THE RESEARCH FOUNDATION) AND SUNY POLYTECHNIC FOUNDATION, INC (SPF) ARE THE MEMBERS OF THE CORPORATION. FOUR DIRECTORS ARE APPOINTED BY SPF, ONE OF WHOM SHALL BE APPOINTED UPON THE RECOMMENDATION OF THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION D/B/A EMPIRE STATE DEVELOPMENT (ESD) AND ONE OF WHOM SHALL BE APPOINTED UPON THE RECOMMENDATION OF THE STATE UNIVERSITY OF NEW YORK ("SUNY"); FOUR DIRECTORS ARE APPOINTED BY THE RESEARCH FOUNDATION, ONE OF WHOM SHALL BE APPOINTED UPON THE RECOMMENDATION OF ESD AND ONE OF WHOM SHALL BE APPOINTED UPON THE RECOMMENDATION OF SUNY; AND THREE DIRECTORS FROM THE PUBLIC AT LARGE OF WHOM SHALL BE ELECTED UPON THE UNANIMOUS CONSENT OF THE MEMBERS AND WITH THE CONSENT OF ESD. IN ADDITION, ESD'S PRESIDENT AND CEO, OR HIS/HER DESIGNEE, AND THE CHANCELLOR OF SUNY, OR HIS/HER DESIGNEE SERVE AS NON-VOTING, NON-FIDUCIARY ADVISORY REPRESENTATIVES TO THE BOARD. THE MEMBERS WITH THE ABILITY TO APPOINT BOARD DIRECTORS, HAVE NO POWER TO CONTROL THE BOARD'S DECISIONS. FORM 990, PART VI, SECTION A, LINE 7B THE BY-LAWS AND THE CERTIFICATE OF INCORPORATION MAY BE ADDED TO, AMENDED, REPEALED OR REPLACED ONLY BY THE AGREEMENT OF THE CORPORATION'S MEMBERS. IN ADDITION, UNDER THE BYLAWS, THE FOLLOWING ITEMS MUST BE APPROVED FIRST BY A MAJORITY VOTE OF THE CORPORATION'S BOARD OF DIRECTORS AND THEN SUBMITTED TO THE MEMBERS FOR APPROVAL: (I) AMENDMENT TO THE CORPORATION'S CETIFICATE OF INCORPORATION; (II) APPROVAL OF A PLAN OF MERGER OR CONSOLIDATION OF THE CORPORATION; (III) APPROVAL OF A PLAN OF DISSOLUTION OF THE CORPORATION; (IV) APPROVAL OF A RECOMMENDATION FOR THE SALE OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION, (IV) ADMISSION OF ADDITIONAL MEMBERS INTO THE CORPORATION, AND (IV) ANY CHANGE TO THE MISSION OR PURPOSE OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE CURRENTLY NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE CORPORATION'S FORM 990 IS PREPARED INTERNALLY UNDER THE REVIEW OF THE PRESIDENT, TREASURER AND CFO. IT IS REVIEWED BY THE CORPORATION'S EXTERNAL AUDITORS. THE COMPLETED FORM IS DISTRIBUTED TO THE AUDIT COMMITTEE AND REVIEWED WITH MANAGEMENT AND THE EXTERNAL AUDITORS. AFTER THE AUDIT COMMITTEE REVIEWS, THE FINAL FORM 990 AND ALL REQUIRED SCHEDULES IS DISTRIBUTED TO EACH VOTING BOARD DIRECTOR AND IS APPROVED BY THE BOARD OF DIRECTORS PRIOR TO FILING THE FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C UNDER THE CONFLICT OF INTEREST AND RELATED PARTY TRANSACTION POLICY, DIRECTORS, OFFICERS, AND KEY EMPLOYEES MUST DISCLOSE IN GOOD FAITH AND IN WRITING ALL MATERIAL FACTS RELATED TO CONFLICTS OF INTEREST TO THE GENERAL COUNSEL AND/OR ETHICS OFFICER, WHO WILL ADVISE HOW TO PROCEED. THE DISCLOSURE MUST BE MADE PART OF THE CORPORATION'S OFFICIAL RECORDS, INCLUDING IN THE MINUTES OF ANY MEETING AT WHICH THE CONFLICT ISSUE IS DISCUSSED OR VOTED ON. THE POLICY ALSO CONTAINS PROVISIONS FOR RECUSAL AND ABSTENTION. QUESTIONNAIRES ARE SUBMITTED ANNUALLY TO DIRECTORS, OFFICERS, AND KEY EMPLOYEES TO DETERMINE WHETHER ANY CONFLICTS OF INTEREST OR RELATED PARTY TRANSACTIONS EXIST. FORM 990, PART VI, SECTION B, LINE 15 FOR SUCH INDIVIDUALS WHOSE COMPENSATION WAS WHOLLY OR PARTIALLY REIMBURSED BY THE CORPORATION OR RELATED ORGANIZATIONS, THE AUDIT COMMITTEE, COMPRISED OF INDEPENDENT MEMBERS, CONSIDERED COMPARABLE SALARY INFORMATION AND DOCUMENTED ITS DECISION CONTEMPORANEOUSLY. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE POSTED ON THE CORPORATION'S WEBSITE AND ARE AVAILABLE TO THE PUBLIC, UPON REQUEST, AT THE CORPORATION'S BUSINESS OFFICE. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 3,457,744. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,457,744. FULLER ROAD MANAGEMENT CORPORATION 257 FULLER ROAD ALBANY NY 12207 RE HOLDING NY 501(C)(25) NY CREATES 0 FORT SCHUYLER MANAGEMENT CORPORATION 257 FULLER ROAD ALBANY NY 12207 SUP SUNY POLY NY 501(C)(3) LINE 10 NY CREATES 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 FORT SCHUYLER MANAGEMENT CORPORATION R 4569180 ACTUAL PAYMENTS FULLER ROAD MANAGEMENT CORPORATION S 12502814 ACTUAL PAYMENTS