STRATEGY STUDIO / PUBLIC DATA EXPLORER

INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC: Form 990, tax year 2013

View the entire original 990 at ProPublica ↗

Organization
INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC (EIN 90-0348486)
Tax period
2013-07-01 to 2014-06-30
Filed
2015-01-29
IRS object ID
201500299349300435
Schema version
2013v4.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2015-01-29T11:39:27-06:00ReturnTs
Tax Period End2014-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN650406502PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1DASZKAL BOLTON LLPBusinessNameLine1

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12401 NW BOCA RATON BLVDAddressLine1
CityBOCA RATONCity
StateFLState
ZIP Code334316639ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2013-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN900348486EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1INSTITUTE FOR COMMERCIALIZATIONBusinessNameLine1
Business Name Line2OF PUBLIC RESEARCH INCBusinessNameLine2
FieldValueIRS element (for citing)
Business Name ControlINSTBusinessNameControlTxt
Phone5613688889PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13651 FAU BLVD NO 400AddressLine1
CityBOCA RATONCity
StateFLState
ZIP Code33431ZIPCode

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJANE TEAGUEPersonNm
Person TitleCHIEF OPERATING OFFICERPersonTitleTxt
Phone5613688889PhoneNum
Signature2015-01-14SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonKEVIN E REYNOLDSPreparerPersonNm
PTINP00178156PTIN
Phone5613671040PhoneNum
FieldValueIRS element (for citing)
Tax2013TaxYr
Build TS2016-02-25 16:41:14ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJANE TEAGUEPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13651 FAU BLVD SUITE 400AddressLine1
CityBOCA RATONCity
StateFLState
ZIP Code33431ZIPCode
FieldValueIRS element (for citing)
Gross Receipts$6,334,480GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.FLORIDA-INSTITUTE.COMWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2007FormationYr
Legal Domicile StateFLLegalDomicileStateCd
Activity Or MissionPROMOTING ECONOMIC DEVELOPMENT THROUGH THE COMMERCIALIZATION OF NEW DISCOVERIES.ActivityOrMissionDesc
Voting Members Governing Body4VotingMembersGoverningBodyCnt
Voting Members Independent4VotingMembersIndependentCnt
Total Employee2TotalEmployeeCnt
Total Volunteers54TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$1,052,650PYContributionsGrantsAmt
CY Contributions Grants$5,611,109CYContributionsGrantsAmt
PY Program Service Revenue$137,370PYProgramServiceRevenueAmt
CY Program Service Revenue$723,371CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income-$1,169CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$1,190,020PYTotalRevenueAmt
CY Total Revenue$6,333,311CYTotalRevenueAmt
PY Grants And Similar Paid$315,837PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$1,206,550PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$1,359,247CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$231,628PYOtherExpensesAmt
CY Other Expenses$528,770CYOtherExpensesAmt
PY Total Expenses$1,754,015PYTotalExpensesAmt
CY Total Expenses$1,888,017CYTotalExpensesAmt
PY Revenues Less Expenses-$563,995PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$4,445,294CYRevenuesLessExpensesAmt
Total Assets BOY$9,569,494TotalAssetsBOYAmt
Total Assets EOY$14,285,231TotalAssetsEOYAmt
Total Liabilities BOY$269,374TotalLiabilitiesBOYAmt
Total Liabilities EOY$539,817TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$9,300,120NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$13,745,414NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE INSTITUTE'S MISSION IS ECONOMIC DEVELOPMENT THROUGH THE COMMERCIALIZATION OF NEW DISCOVERIES GENERATED FROM PUBLICLY FUNDED RESEARCH. SUCCESS IS MEASURED BY THE NUMBER OF COMPANIES AND JOBS THAT ARE CREATED, AND THE AMOUNT OF CAPITAL INVESTED INTO NEW VENTURES.MissionDesc
Significant New Program SrvcYes (1)SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,479,150ExpenseAmt
Revenue$723,371RevenueAmt
DescCONSISTENT WITH FLORIDA'S TARGETED INDUSTRY CLUSTER STRATEGY, THE INSTITUTE MATCHES COMMERCIALLY VIABLE TECHNOLOGIES WITH EXPERIENCED MANAGEMENT AND CAPITAL TO CREATE NEW STARTUP COMPANIES BASED ON RESEARCH CONDUCTED AT UNIVERSITIES AND RESEARCH INSTITUTIONS. THE INSTITUTE ALSO MANAGES SEED FUNDING PROGRAMS TO PROVIDE BETWEEN $50,000 AND $300,000 TO QUALIFIED EARLY STAGE COMPANIES. RECIPIENTS MUST MATCH INSTITUTE FUNDING WITH PRIVATE INVESTMENT CAPITAL, AND FUNDED COMPANIES HAVE RAISED AS MUCH AS 3-4 TIMES THE AMOUNT PROVIDED BY THE INSTITUTE IN PRIVATE MATCHING FUNDS. THIS YEAR THE INSTITUTE FUNDED TWELVE NEW COMPANIES, EIGHT THROUGH ITS SEED CAPITAL ACCELERATOR PROGRAM, AND FOUR THROUGH ITS NEWLY AUTHORIZED FLORIDA TECHNOLOGY SEED CAPITAL FUND. ADDITIONALLY, FUNDING WAS PROVIDED TO FIVE COMPANIES THAT HAD RECEIVED INITIAL FUNDING PREVIOUSLY, AND SEVERAL OTHER NEW COMPANY OPPORTUNITIES WERE REVIEWED AND APPROVED FOR FUNDING CONSIDERATION. THE INSTITUTE SEEKS ADDITIONAL GRANTS AND DONATIONS TO SUPPLEMENT FUNDING PROVIDED BY THE STATE, AND CONTINUES TO LAUNCH SUPPORT AND FUNDING PROGRAMS TO CREATE NEW COMPANIES AND JOBS IN KEY INDUSTRIES THAT ARE DRIVING THE GLOBAL ECONOMY.Desc
Total Program Service Expenses$1,479,150TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying ActivitiesYes (1)LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related InvstYes (1)ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded EntityYes (1)DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document12IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee2EmployeeCnt
Employment Tax Returns Filed0EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member4IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org DocumentsYes (1)ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldFLStatesWhereCopyOfReturnIsFldCd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1JANE TEAGUEBusinessNameLine1
FieldValueIRS element (for citing)
Phone5613688889PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13651 FAU BLVD SUITE 400AddressLine1
CityBOCA RATONCity
StateFLState
ZIP Code33431ZIPCode

Form990 Part VII Section A Form990PartVIISectionAGrp (8 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
RHYS WILLIAMS
TREASURER1.00Yes (X)Yes (X)$0$0$0
DAVID DAY
VICE CHAIRMAN1.00Yes (X)Yes (X)$0$0$0
HAL VALECHE
BOARD MEMBER1.00Yes (X)$0$0$0
JOHN FRASER
BOARD MEMBER1.00Yes (X)$0$0$0
JANE TEAGUE
CHIEF OPERATING OFFICER40.00Yes (X)$137,033$0$47,408
JAMIE GROOMS
CHIEF EXECUTIVE OFFICER40.00Yes (X)$173,403$0$59,260
JOSEPH REDDY
ENTREPRENEUR-IN-RESIDENCE40.00$119,575$0$39,460Yes (X)
ALISON TANNER
ENTREPRENEUR-IN-RESIDENCE40.00$120,918$0$39,903Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$550,929TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$186,031TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K4IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Government Grants$5,500,000GovernmentGrantsAmt
All Other Contributions$111,109AllOtherContributionsAmt
Total Contributions$5,611,109TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
START UP QUEST REVENUE541610$350,000$350,000
SCAP LOAN INTEREST INC522291$291,134$291,134
SCAP LOAN CLOSING FEES522291$82,237$82,237
FieldValueIRS element (for citing)
Total Program Service Revenue$723,371TotalProgramServiceRevenueAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Other$1,169OtherAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Other-$1,169OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column-$1,169TotalRevenueColumnAmt
Exclusion-$1,169ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$6,333,311TotalRevenueColumnAmt
Related Or Exempt Func Income$723,371RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion-$1,169ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$323,238TotalAmt
Program Services$258,590ProgramServicesAmt
Management And General$64,648ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$694,166TotalAmt
Program Services$555,334ProgramServicesAmt
Management And General$138,832ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$306,238TotalAmt
Program Services$244,990ProgramServicesAmt
Management And General$61,248ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$35,605TotalAmt
Program Services$28,484ProgramServicesAmt
Management And General$7,121ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$85,735TotalAmt
Program Services$54,681ProgramServicesAmt
Management And General$31,054ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$35,248TotalAmt
Program Services$22,481ProgramServicesAmt
Management And General$12,767ManagementAndGeneralAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

FieldValueIRS element (for citing)
Total$60,000TotalAmt
Management And General$60,000ManagementAndGeneralAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$10,373TotalAmt
Program Services$8,298ProgramServicesAmt
Management And General$2,075ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$21,009TotalAmt
Program Services$18,091ProgramServicesAmt
Management And General$2,918ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$49,200TotalAmt
Program Services$43,582ProgramServicesAmt
Management And General$5,618ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$43,805TotalAmt
Program Services$35,044ProgramServicesAmt
Management And General$8,761ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$16,250TotalAmt
Program Services$13,000ProgramServicesAmt
Management And General$3,250ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$4,504TotalAmt
Program Services$4,054ProgramServicesAmt
Management And General$450ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$7,278TotalAmt
Management And General$7,278ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
ENTREPRENEUR IN RESIDEN$181,130$181,130
DUES & SUBSCRIPTION$10,001$8,001$2,000
PRINTING & POSTAGE$4,237$3,390$847

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$1,888,017TotalAmt
Program Services$1,479,150ProgramServicesAmt
Management And General$408,867ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$648,207BOYAmt
EOY$3,823,369EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$3,281,135BOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$250,000BOYAmt
EOY$1,325,996EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$5,964BOYAmt
EOY$5,752EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$12,750LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$8,173LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$8,284BOYAmt
EOY$4,577EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$5,374,404BOYAmt
EOY$9,124,037EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$1,500BOYAmt
EOY$1,500EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$9,569,494BOYAmt
EOY$14,285,231EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$155,166BOYAmt
EOY$412,384EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$114,208BOYAmt
EOY$127,433EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$269,374BOYAmt
EOY$539,817EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$152,359BOYAmt
EOY$212,540EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$503,357BOYAmt
EOY$322,336EOYAmt

Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$8,644,404BOYAmt
EOY$13,210,538EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$9,300,120BOYAmt
EOY$13,745,414EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$9,569,494BOYAmt
EOY$14,285,231EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$4,445,294ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit RequiredYes (1)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (1)FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$605,000CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$3,000,000CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$10,000,000CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,052,650CurrentTaxYearMinus1YearAmt
Current Tax Year$5,611,109CurrentTaxYearAmt
Total$20,268,759TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$605,000CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$3,000,000CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$10,000,000CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,052,650CurrentTaxYearMinus1YearAmt
Current Tax Year$5,611,109CurrentTaxYearAmt
Total$20,268,759TotalAmt
FieldValueIRS element (for citing)
Public Support Total170$20,268,759PublicSupportTotal170Amt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus2 Years$9,000CurrentTaxYearMinus2YearsAmt
Total$9,000TotalAmt
FieldValueIRS element (for citing)
Total Support$20,277,759TotalSupportAmt
Gross Receipts Rltd Activities$884,317GrossReceiptsRltdActivitiesAmt
Public Support CY1700.99960PublicSupportCY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule C IRS990ScheduleC

Total Direct Lobbying TotalDirectLobbyingGrp

FieldValueIRS element (for citing)
Filing Organizations Total$60,000FilingOrganizationsTotalAmt

Total Lobbying Expend TotalLobbyingExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$60,000FilingOrganizationsTotalAmt

Other Exempt Purpose Expend OtherExemptPurposeExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$1,828,017FilingOrganizationsTotalAmt

Total Exempt Purpose Expend TotalExemptPurposeExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$1,888,017FilingOrganizationsTotalAmt

Lobbying Nontaxable Amount LobbyingNontaxableAmountGrp

FieldValueIRS element (for citing)
Filing Organizations Total$244,401FilingOrganizationsTotalAmt

Grassroots Nontaxable GrassrootsNontaxableGrp

FieldValueIRS element (for citing)
Filing Organizations Total$61,100FilingOrganizationsTotalAmt

Tot Lbbyng Grassroot Mns Non Tx TotLbbyngGrassrootMnsNonTxGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Tot Lbby Expend Mns Lbbyng Non Tx TotLbbyExpendMnsLbbyngNonTxGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Avg Lobbying Nontaxable Amount AvgLobbyingNontaxableAmountGrp

FieldValueIRS element (for citing)
Current Year Minus3$304,758CurrentYearMinus3Amt
Current Year Minus2$124,266CurrentYearMinus2Amt
Current Year Minus1$238,951CurrentYearMinus1Amt
Current Year$244,401CurrentYearAmt
Total$912,376TotalAmt
FieldValueIRS element (for citing)
Lobbying Ceiling$1,368,564LobbyingCeilingAmt

Avg Total Lobbying Expend AvgTotalLobbyingExpendGrp

FieldValueIRS element (for citing)
Current Year Minus3$25,000CurrentYearMinus3Amt
Current Year Minus2$40,000CurrentYearMinus2Amt
Current Year Minus1$40,000CurrentYearMinus1Amt
Current Year$60,000CurrentYearAmt
Total$165,000TotalAmt

Avg Grassroots Nontaxable AvgGrassrootsNontaxableGrp

FieldValueIRS element (for citing)
Current Year Minus3$76,190CurrentYearMinus3Amt
Current Year Minus2$31,067CurrentYearMinus2Amt
Current Year Minus1$59,738CurrentYearMinus1Amt
Current Year$61,100CurrentYearAmt
Total$228,095TotalAmt
FieldValueIRS element (for citing)
Grassroots Ceiling$342,143GrassrootsCeilingAmt

Schedule D IRS990ScheduleD

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$12,750InvestmentCostOrOtherBasisAmt
Depreciation$8,173DepreciationAmt
Book Value$4,577BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$4,577TotalBookValueLandBuildingsAmt

Invst Program Related Org InvstProgramRelatedOrgGrp (3 entries)

DescDescBook ValueBookValueAmtMethod ValuationMethodValuationCd
SEED FUNDING LOANS RECEIVABLE$7,458,437C
SEED FUNDING LOANS INTEREST RECEIVABLE$865,600C
EQUITY INVESTMENTS$800,000C
FieldValueIRS element (for citing)
Total Book Value Program Rltd$9,124,037TotalBookValueProgramRltdAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$6,333,311TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$6,333,311RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$6,333,311TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$1,888,017TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$1,888,017ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$1,888,017TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART X, LINE 2:THE INSTITUTE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). THE INSTITUTE RECORDS A LIABILITY FOR UNCERTAIN TAX POSITIONS WHEN IT IS PROBABLE THAT A LOSS HAS BEEN INCURRED AND THE AMOUNT CAN BE REASONABLY ESTIMATED. AS OF JUNE 30, 2014, THE INSTITUTE HAS NO LIABILITIES FOR UNCERTAIN TAX POSITIONS. THE INSTITUTE CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS.
PART XI, LINE 4B - OTHER ADJUSTMENTS:OTHER INCOME INCLUDES SEED FUNDING LOAN INTEREST INCOME, FEE INCOME, AND OTHER MISCELLANEOUS INCOME.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Compensation CommitteeYes (X)CompensationCommitteeInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
JANE TEAGUE
CHIEF OPERATING OFFICER$137,033$0$0$0$0$0$0$0$47,408$0$184,441$0$0$0
JAMIE GROOMS
CHIEF EXECUTIVE OFFICER$173,403$0$0$0$0$0$0$0$59,260$0$232,663$0$0$0
JOSEPH REDDY
ENTREPRENEUR-IN-RESIDENCE$119,575$0$0$0$0$0$0$0$39,460$0$159,035$0$0$0
ALISON TANNER
ENTREPRENEUR-IN-RESIDENCE$120,918$0$0$0$0$0$0$0$39,903$0$160,821$0$0$0

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART III, LINE 2SEE FORM 990, PART III, LINE 4.
FORM 990, PART VI, SECTION A, LINE 4ON SEPTEMBER 10, 2013, THE ORGANIZATION'S BYLAWS WERE AMENDED AND RESTATED FOR THE CREATION OF THE FLORIDA TECHNOLOGY SEED CAPITAL FUND, LLC (THE FUND). PURSUANT TO ITS OPERATING AGREEMENT: THE FUND IS ORGANIZED AND SHALL OPERATE AS A WHOLLY-OWNED SUBSIDIARY OF THE INSTITUTE, WHICH IS ITSELF ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, RELIGIOUS, OR SCIENTIFIC PURPOSES WITHIN THE MEANING OF 501(C)(3) OF THE INTERNAL REVENUE CODE, AND CERTAIN POWERS AND LIMITATIONS OF THE INSTITUTE AS SET FORTH IN THE INSTITUTE'S ARTICLES OF INCORPORATION AND AMENDED AND RESTATED BYLAWS (THE "BYLAWS") SHALL BE APPLICABLE TO THE FUND.
FORM 990, PART VI, SECTION A, LINE 7AA BOARD OF DIRECTOR MEMBER ORGANIZATION HAS THE POWER TO APPOINT A MEMBER OF THE GOVERNING BODY.
FORM 990, PART VI, SECTION B, LINE 11THE TREASURER REVIEWS THE FORM 990 BEFORE IT IS FILED.
FORM 990, PART VI, SECTION B, LINE 12CMEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST THAT MIGHT EXIST WITH THE COMPANIES THAT THE ORGANIZATION ASSISTS.
FORM 990, PART VI, SECTION B, LINE 15DURING JANUARY 2012, THE INSTITUTE ENGAGED THE UNIVERSITY OF FLORIDA (UF) TO PROVIDE PERSONNEL EMPLOYMENT SERVICES TO THE ORGANIZATION TO INCLUDE COMPARABILITY DATA FOR EXECUTIVE SALARIES.
FORM 990, PART VI, SECTION C, LINE 19GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE FORM 990 IS ALSO AVAILABLE ON WWW.GUIDESTAR.ORG.
FORM 990, PART XII, LINE 2C:NO CHANGES FROM PRIOR YEAR.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1FLORIDA TECHNOLOGY SEED CAPITAL FUND LLCBusinessNameLine1

US Address USAddress

FieldValueIRS element (for citing)
Address Line13651 FAU BOULEVARD SUITE 400AddressLine1
CityBOCA RATONCity
StateFLState
ZIP Code33431ZIPCode
FieldValueIRS element (for citing)
EIN463686978EIN
Primary ActivitiesINVESTMENT FUNDING IN INNOVATION BUSINESSESPrimaryActivitiesTxt
Legal Domicile StateFLLegalDomicileStateCd
Total Income$4,508,100TotalIncomeAmt
End Of Year Assets$4,283,225EndOfYearAssetsAmt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1INSTITUTE FOR THE COMMERCIALIZATION OF PUBLIC RESEARCH INCBusinessNameLine1