2024-10-16T15:30:00-05:00 2023-12-31 871353108 Eisner Advisory Group LLC 130 North 18th Street Suite 3000 Philadelphia PA 191032757 990 2023-01-01 231645908 University City Science Center UNIV 2159666000 3675 Market Street Suite 400 Philadelphia PA 19104 Tiffany Wilson President and CEO 2159666000 2024-10-15 1 0 HELEN M MARTIN P01330899 2158818800 2023 2024-10-15 13:58:12Z Tiffany Wilson 3675 Market Street Suite 400 Philadelphia PA 19104 44036089 0 X www.sciencecenter.org X 1963 PA To power progress that advances science and healthcare innovation, uplifts communities, and improves lives. 23 22 84 258 0 0 3386078 4461000 40201137 11405913 -11322444 2817220 11661 7671 32276432 18691804 396123 274000 0 0 7405232 7798788 0 0 322272 12239492 13152181 20040847 21224969 12235585 -2533165 129314989 134478155 32448702 30685503 96866287 103792652 X The Science Center is an innovation intermediary, working at the intersection of startups, health and science, and community. Our work drives inclusive growth across Greater Philadelphia and advances best-in-class healthcare solutions for all. 0 0 6231776 10674807 Urban Research ParkSee Detail Schedule O Narrative 3717872 731106 Cultivate and ConveneSee Detail Schedule O Narrative 2502835 274000 CommercializationSee Detail Schedule O Narrative 12452483 1 1 0 1 0 0 0 0 0 1 1 1 0 1 1 1 0 1 0 1 1 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 122 0 1 84 1 0 0 0 0 0 1 0 0 0 0 0 0 0 X 23 22 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AK AR CA CO CT FL GA HI IL KS KY LA ME MD MA MI MN MS MO NH NJ NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI DC X Lorraine LoPresti CFO 2159666000 3675 Market Street Suite 400 Philadelphia PA 19104 Tiffany Wilson President & CEO 40.00 X X 495021 0 60774 Michael A DiPiano Chair 1.00 X X 0 0 0 Craig R Carnaroli Vice Chair 1.00 X X 0 0 0 Jane H Hollingsworth Vice Chair 1.00 X X 0 0 0 Kathleen M Shay Board Member 1.00 X 0 0 0 Ernest J Dianastasis Board Member 0.30 X 0 0 0 Yi Deng Board Member 0.30 X 0 0 0 Dawn A Bonnell PhD Board Member 0.30 X 0 0 0 Tom Gorodon Board Member 0.30 X 0 0 0 Alesiter Saunders Board Member 0.30 X 0 0 0 William Mezzanotte Board Member 0.30 X 0 0 0 Michele Masucci PhD Board Member 1.00 X 0 0 0 Kerry Benson Board Member 0.30 X 0 0 0 Pat Harker Board Member 0.30 X 0 0 0 Kisha Hortman Hawthorne PhD Board Member 0.30 X 0 0 0 Christian Eusemann PhD Board Member 0.30 X 0 0 0 Aileen Alexander Board Member 0.30 X 0 0 0 Tara L Weiner Board Member 1.00 X 0 0 0 Richard Vague Board Member 0.30 X 0 0 0 J Larry Jameson MD PhD Board Member 0.30 X 0 0 0 Chellie Cameron Board Member (eff 7/23) 0.30 X 0 0 0 Adam Glasofer Board Member (eff 7/23) 0.30 X 0 0 0 Michael Nutter Board Member (eff 7/23) 0.30 X 0 0 0 Kenneth J Blank PhD Board Member (thru 6/23) 0.30 X 0 0 0 Stephen T Zarrilli Board Member (thru 6/23) 0.30 X 0 0 0 Saul Behar thru 723 VP & General Counsel 36.00 4.00 X 232779 25864 41861 Lorraine LoPresti CFO 33.00 7.00 X 275562 60490 45311 Tracy Brala Sr VP Strategy & Partnerships 40.00 X 376065 0 69765 Heath Nacquin VP, Govt and Capital Engagement 40.00 X 367507 0 57835 Kristy Traylor VP, People & Operations 30.00 10.00 X 127684 42561 40139 Timnyt Abraha VP, Real Estate 5.00 35.00 X 43028 301191 43829 Nicholas Hahn IT Director 34.00 6.00 X 140286 24756 39296 Katherine Nash Sr Director External Affairs 40.00 X 166103 0 50520 Jennifer Rajchel Senior Director, Experience & Digital Transformati 40.00 X 195707 0 43626 Kristen Fitch Senior Director, Marketing 40.00 X 170300 0 25442 Clayton Moravec III Senior Director, Accounting 26.00 14.00 X 110585 59546 41103 2700627 514408 559501 20 0 1 0 Capital Stack Investors LLC 2 Newton St Belchertown MA 01007 Consultants 278479 GDI Services Inc 780 5th Ave Ste 115 King of Prussia PA 19406 Janitorial Services 218387 EisnerAmper LLP PO Box 360635 Pittsburgh PA 15251 Financial Services 157260 Cushman & Wakefield Property Management 1650 Market St 48th Floor Philadelphia PA 19103 Property Management 152709 Synergi Partners Inc PO Box 5599 Florence SC 295025599 Consultants 151233 9 143010 2616835 1701155 4461000 Rental Income From Exe 532000 8770314 8770314 Equity in Joint Ventur 531390 1904493 1904493 Business & Community N 541900 731106 731106 11405913 2326926 2326926 25800000 25309706 490294 490294 490294 42250 143010 34579 7671 7671 18691804 11405913 0 2824891 X 32000 32000 242000 242000 2707514 1138204 1435561 133749 3783764 1261852 2521912 381376 195157 153680 32539 402231 188089 180860 33282 523903 245687 238014 40202 10651 10651 138406 42663 95743 160933 7524 153409 82500 82500 2693511 1523430 1170081 351265 128740 222525 1229004 481011 747993 4447775 3981000 466775 243867 153777 90090 906088 869835 36253 2509556 1695653 813903 285399 188439 96960 Security 46234 45810 424 Miscellaneous 24325 16696 7629 Other Taxes 18402 18402 Bad Debt 4265 4265 21224969 12452483 8450214 322272 1172229 0 1926897 4494839 1217013 1430473 74145 237805 35873895 17478148 20341827 18395747 70058018 78734861 18323736 15925286 2467636 2437049 13733488 12822095 129314989 134478155 3677594 3142359 343860 333154 17877383 17940800 986025 486025 9563840 8783165 32448702 30685503 X 96585287 103567652 281000 225000 96866287 103792652 129314989 134478155 X -2533165 10154382 -694852 X X 0 1 X 1 1 1 X 1396074 3288793 2314296 3386078 4461000 14846241 15273167 15924919 12985889 37081410 11405913 92671298 16669241 19213712 15300185 40467488 15866913 107517539 0 8380570 8715929 6777843 3341954 3851504 31067800 8380570 8715929 6777843 3341954 3851504 31067800 76449739 2759123 1712028 1316653 1611536 2226926 9626266 2759123 1712028 1316653 1611536 2226926 9626266 10835 11266 11661 7671 41433 19428364 20936575 16628104 42090685 18101510 117185238 0.65240 0.60490 0.08210 0.06030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 82500 82500 0 Part II-B, Line 1: The University City Science Center utilized the services of consultants to assist in the procurement of public sector funding to support its programs and capital projects. The consultants positioned UCSC to receive funding, primarily through direct grants. 123428 123428 234067 1661 112300 123428 234016 51 234067 294528 1488 62000 234016 272898 21630 294528 0.00000 0.00000 0.00000 0 0 5040230 5040230 26106692 13666320 12440372 4726973 3811828 915145 18395747 Invested Cash 5883625 F Alternative Investments 6080650 F Capital Reserves 3961011 F 15925286 Deferred Rent 566735 Other Deferred Costs, Net 304538 Planning and Development 321752 Due From Related Party 7507578 Right of Use Asset 4121492 12822095 Deposits & Other Current Liabilities 335345 Deferred Rent 358281 Deferred Fellowship Fund 8167 Right of Use Lease Liability 7386520 Swap Liability 694852 8783165 X Part V, Line 4: The Esther M. Klein Endowment Fund supports Klein Gallery (EKG) operations, in an effort to promote art and science to the surrounding Philadelphia community. The EKG hosted its final exhibit at the end of 2022 and the account, designated by the board for gallery operations, was closed in early 2023. Part X, Line 2: The Science Center is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, although its consolidated entities, the Park, PTI, and SCEC, are for profit entities which are subject to income taxes. During each of the years ended December 31, 2023 and 2022, the total federal and state income tax expense from the consolidated entities was $0. U.S. GAAP requires management to evaluate tax positions taken and recognize a tax liability if the Center has taken an uncertain tax position that more likely than not would not be sustained upon examination by a government authority. Management has analyzed the tax positions taken by the Center, and has concluded that as of December 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the consolidated financial statements. The Center would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. There were no income tax related interest and penalties recorded for either of the years ended December 31, 2023 or 2022. Middle East and North Africa - Algeria, Bahrain, Djibouti, Egypt, 1 1 Program Services Program Operations 47010 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 1 1 Program Services Program Operations 32528 North America - Canada and Mexico, but not the United States 1 1 Program Services Program Operations 3495 3 3 0 0 3 3 83033 0 83033 0 0 0 0 0 0 Nucleus 185260 143010 42250 21100 4080 9399 185260 143010 42250 21100 4080 9399 34579 7671 1 University of Pittsburgh PO BOX 640458 Pittsburgh PA 152640458 250965591 501(c) (3) 32000 0 Sponsored Projects-Biomimetic Peptides 1 0 Founder's Fellowship fellow stipends 9 242000 Part I, Line 2: Grant award documentation and applicable laws are reviewed to ensure compliance with the terms and conditions of the award. In instances where the Science Center grants sub-awards, the Science Center reserves the right to request proof of expenditure as well as supporting documentation to substantiate expenses from the sub-recipient. Reporting requirements are coordinated with all appropriate organizational staff, with oversight provided by an executive staff member. Upon termination of the award, all required close out materials are submitted. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Tiffany Wilson President & CEO 384357 0 110664 0 0 0 34834 0 25940 0 555795 0 0 0 Tracy Brala Sr VP Strategy & Partnerships 290595 0 85470 0 0 0 34794 0 34971 0 445830 0 0 0 Heath Nacquin VP, Govt and Capital Engagement 283507 0 84000 0 0 0 30594 0 27241 0 425342 0 0 0 Timnyt Abraha VP, Real Estate 36309 254160 6719 47031 0 0 1202 8416 4276 29935 48506 339542 0 0 Lorraine LoPresti CFO 216852 47602 58710 12888 0 0 25004 5489 12151 2667 312717 68646 0 0 Saul Behar thru 723 VP & General Counsel 152585 16954 80194 8910 0 0 19957 2217 17718 1969 270454 30050 0 0 Jennifer Rajchel Senior Director, Experience & Digita 169710 0 25997 0 0 0 19161 0 24465 0 239333 0 0 0 Katherine Nash Sr Director External Affairs 143153 0 22950 0 0 0 16304 0 34216 0 216623 0 0 0 Clayton Moravec III Senior Director, Accounting 95661 51510 14924 8036 0 0 10417 5609 16300 8777 137302 73932 0 0 Kristy Traylor VP, People & Operations 127684 42561 0 0 0 0 12146 4049 17958 5986 157788 52596 0 0 Nicholas Hahn IT Director 124986 22056 15300 2700 0 0 13053 2304 20348 3591 173687 30651 0 0 Kristen Fitch Senior Director, Marketing 146191 0 24109 0 0 0 14361 0 11081 0 195742 0 0 0 Part I, Line 1a Per the Travel and Dues Policy included in the employee handbook: First class air travel should be approved in advance and used only when lower class travel would: - require circuitous routing; - greatly increase deviation of flight; - require travel during unreasonable hours; - result in additional costs offsetting transportation savings; - offer accommodations not reasonably adequate for the physical or medical needs; or - is not available. The Science Center reimburses the President/CEO of the Center for dues paid for a social club membership used for business-related activities. Part I, Line 3 See Schedule O Narrative - Form 990, Part VI, Section B, Line 15. Form 990, Part III, Line 4a, Program Service Accomplishments Urban Research Park In 1963 the Science Center was built on the foundation of real estate at a time when labs and research facilities were needed for cross disciplinary and cross-institutional collaborations. Our focus on providing researchers and entrepreneurs with the resources to advance the commercialization of their technologies hasn't changed over the last 60 years. The way we serve them has evolved with the changing needs of the ecosystem and now includes an integrated combination of physical space and programs to advance health and science innovation. Today, the campus-like complex consists of six buildings spanning 888,000 square feet of office and laboratory space. These buildings are part of the larger uCity Square campus developed in partnership with Wexford Science + Technology and Ventas, Inc. uCity Square consists of 27 acres, 20 buildings, 200 companies and over 15,000 people. Form 990, Part III, Line 4b, Program Service Accomplishments CULTIVATE: Programs introduce students and adults to STEM careers through hands-on, industry-informed curriculum and workforce training. STEM Education: The Science Center's FirstHand STEM education program offers free year-round, project-based learning in partnership with local schools and community organizations. The FirstHand Lab connects local students to the innovation ecosystem in Philadelphia. FirstHand's industry-informed curricula provides real-world, hands-on experience to open doors for the minds of tomorrow. Since the program launched in 2014, 2,500 middle and high school students from 87 schools across Philadelphia have been supported through multiweek programming. In 2023, FirstHand supported 261 students from 36 Philadelphia middle and high schools. Workforce Development: The Science Center's BULB Workforce Development program introduces Philadelphia residents to lab skills desired by biotech companies in University City and beyond. In the three cohorts held in 2023, 34 participants without a traditional four year-college degree received STEM training. Mentors from local biotech companies engaged participants in at-home lab experiments using custom STEM kits. CONVENE Convene programs galvanize and amplify an inclusive innovation community: Quorum Quorum serves as a central, neutral gathering space for the Greater Philadelphia's innovation community, offering a two-pronged approach to convening: a free 5,000 square foot drop-in lounge serving as an open workspace and informal meeting location and a 10,000 square foot meeting facility available to rent. In 2023, Quorum attracted over 13,000 participants . Since Quorum's inception in 2011, over 190,000 visitors have joined over 2,000 events on a wide array of business-related and personal topics. Venture Cafe' Philadelphia Part of the Venture Cafe' Global Network, Venture Cafe' Philadelphia connects a community of innovators through free, high-impact programming focused on innovation and entrepreneurship. The weekly events regularly draw a diverse group of stakeholders across the Greater Philadelphia ecosystem. Since it launched 5 years ago, Venture Cafe' has attracted 34,000 participants to more than 280 Thursday Gatherings. Form 990, Part III, Line 4c, Program Service Accomplishments COMMERCIALIZATION: Science Center commercialization activities offer startups the right help at the right time to accelerate and scale healthcare solutions. In 2023, the Science Center supported 68 startups who raised $17.8M. In 2023, 56% of startup founders were underrepresented (underrepresented includes female, LGBTQ+, Race & Ethnicity other than White & Caucasian, disabled, served in the armed forces, low income, first-generation graduate, immigrant, and first-generation U.S. citizens - or a combination of those). Proof Positive Launched in 2023, Proof Positive helps entrepreneurs prioritize the customer perspective through a rigorous customer discovery-focused curriculum. The program incorporates the lean startup methodology with inclusive customer discovery to eliminate bias in product development. In 2023, 16 startups were supported through Proof Positive. ic@3401 ic@3401 is a vetted community of tech-enabled startups, experts, investors, and resources located at the intersection of academic, business & civic interest. US Market Access Program The US Market Access Program enables companies to get a foothold in the US healthcare market. In 2023 the Science Center continued its focus on cultivating top Israeli health technology startups for commercialization in the US. The Science Center partnered with Assuta in Tel Aviv to support 10 startups with a focus on US investment, partner readiness, and plug them into Philadelphia's healthcare ecosystem. Founders Fellowship The Science Center launched the second cohort of its Founders Fellowship in 2023 with four emerging life sciences entrepreneurs. The Fellows are embedded at the Science Center for 12 months with the first six working alongside startup companies to learn the fundamentals of running a business. The second six months give the Fellows an opportunity to apply those lessons learned when transforming their research into reality and developing a pathway to market. Volunteers: The Science Center has a vast network of volunteers enthusiastic to support our mission in a multitude of capacities. In 2023 the Science Center benefited from the time and expertise of close to 258 volunteers. Our commercialization programs engaged business advisors, industry leaders, and experts to advise with startups either one-on-one or in small groups. In 2023, our cultivation efforts through FirstHand and BULB were aided by 39 STEM mentor companies who assisted in hands on experiments and helped design curricula or served as BULB selection team members or mentors to BULB participants. Our convening efforts engaged over 181 experts and thought leaders who presented at Venture Cafe' in 2023. Form 990, Part VI, Section A, line 6 The ownership of shares of the corporation is restricted to organizations qualified for exemption from federal income taxes under section 501(c)(3) of the Internal Revenue Code. Form 990, Part VI, Section A, line 7a Annual Stockholder Meetings: In conjunction with each annual election of directors, the board of directors meets for the purpose of organization, election of a chairman of the Board and other officers, and the transaction of other business at the office of the corporation. Form 990, Part VI, Section B, line 11b The completed 990 is presented for review and discussion by the audit committee, and is subsequently made available to the entire board of directors. Form 990, Part VI, Section B, line 12c Each board member and executive employee is required to annually sign a conflict of interest disclosure form, indicating that he/she understands the policy and will alert the Organization should a conflict occur. Form 990, Part VI, Section B, line 15 The board hired Sullivan Cotter in spring and summer 2021 to review CEO and executive compensation and provide benchmark information on salary and incentive compensation. An array of 501(c)(3) and for-profit benchmarks were included in the study in order to compare entities and their compensation structures that represented business and service operations of a comparable nature. The findings from the study were and have been incorporated into annual review and compensation planning for the CEO and her team. The executive committee of the board of directors annually reviews management compensation and approves all changes. Form 990, Part VI, Section C, line 19 A person requesting a copy of the governing documents etc. places his / her request with the secretary of the University City Science Center. Upon receipt of the request, the requested information is made available to the interested party. Form 990, Part IX, line 11g Other: Program service expenses 1,523,430. Management and general expenses 1,170,081. Fundraising expenses 0. Total expenses 2,693,511. Form 990, Part XI, line 9: loss on swap valuation -694,852. Form 990, Part XII, Line 2c There has been no change during the current period by the Science Center in the audit oversight or independent auditor selection process. 3701 University City Science Center Associates LLC 3675 Market Street Suite 400 Philadelphia PA 19104 233040121 Commercial Real Estate Property Ownership and Rental (prop sold 2021) PA University City Science Center Whaley Partners LP 3675 Market Street Suite 400 Philadelphia PA 19104 208824011 Investment PA University City Science Center Related 171211 0 0 0.80070 Phase I Ventures LLC 3675 Market Street Suite 400 Philadelphia PA 19104 474150042 Technology Accelerator PA University City Science Center Related 0 1 0.43930 3701 Limited Partnership I 3675 Market Street Suite 400 Philadelphia PA 19104 300172434 Investment PA University City Science Center Related 0 1 Port of Technology Inc 3675 Market Street Suite 400 Philadelphia PA 19104 233054794 Investment PA University City Science Center C 1.00000 0 Research Park Inc 3675 Market Street Suite 400 Philadelphia PA 19104 232671100 Services - Real Estate Mgmt PA University City Science Center C 244587 465343 1.00000 0 SCEC Ventures Inc 3675 Market Street Suite 400 Philadelphia PA 19104 474043064 Property Development PA University City Science Center C 347850 735825 1.00000 0 3701 Limited Partnership GP I Inc 3675 Market Street Suite 400 Philadelphia PA 19104 562383457 Investment PA University City Science Center C 1.00000 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 1 0 0 0 Research Park Inc M 219673 Research Park Inc - Net Intercompany Change P 216439 Research Park Inc J 341252 SCEC Ventures Inc - Net Intercompany Change P 22275