2015-01-29T11:39:27-06:00 2014-06-30 650406502 DASZKAL BOLTON LLP 2401 NW BOCA RATON BLVD BOCA RATON FL 334316639 990 2013-07-01 900348486 INSTITUTE FOR COMMERCIALIZATION OF PUBLIC RESEARCH INC INST 5613688889 3651 FAU BLVD NO 400 BOCA RATON FL 33431 JANE TEAGUE CHIEF OPERATING OFFICER 5613688889 2015-01-14 1 KEVIN E REYNOLDS P00178156 5613671040 2013 2016-02-25 16:41:14Z JANE TEAGUE 3651 FAU BLVD SUITE 400 BOCA RATON FL 33431 6334480 0 X WWW.FLORIDA-INSTITUTE.COM X 2007 FL PROMOTING ECONOMIC DEVELOPMENT THROUGH THE COMMERCIALIZATION OF NEW DISCOVERIES. 4 4 2 54 0 0 1052650 5611109 137370 723371 0 -1169 0 0 1190020 6333311 315837 0 0 0 1206550 1359247 0 0 0 231628 528770 1754015 1888017 -563995 4445294 9569494 14285231 269374 539817 9300120 13745414 X THE 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. 1 0 1479150 723371 CONSISTENT 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. 1479150 1 1 0 1 0 0 0 0 0 0 1 0 1 0 0 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 1 0 0 0 0 1 12 0 1 2 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 1 0 0 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 FL X X JANE TEAGUE 5613688889 3651 FAU BLVD SUITE 400 BOCA RATON FL 33431 RHYS WILLIAMS TREASURER 1.00 X X 0 0 0 DAVID DAY VICE CHAIRMAN 1.00 X X 0 0 0 HAL VALECHE BOARD MEMBER 1.00 X 0 0 0 JOHN FRASER BOARD MEMBER 1.00 X 0 0 0 JANE TEAGUE CHIEF OPERATING OFFICER 40.00 X 137033 0 47408 JAMIE GROOMS CHIEF EXECUTIVE OFFICER 40.00 X 173403 0 59260 JOSEPH REDDY ENTREPRENEUR-IN-RESIDENCE 40.00 X 119575 0 39460 ALISON TANNER ENTREPRENEUR-IN-RESIDENCE 40.00 X 120918 0 39903 550929 0 186031 4 0 1 0 0 5500000 111109 5611109 START UP QUEST REVENUE 541610 350000 350000 SCAP LOAN INTEREST INC 522291 291134 291134 SCAP LOAN CLOSING FEES 522291 82237 82237 723371 1169 -1169 -1169 -1169 6333311 723371 0 -1169 323238 258590 64648 694166 555334 138832 306238 244990 61248 35605 28484 7121 85735 54681 31054 35248 22481 12767 60000 60000 10373 8298 2075 21009 18091 2918 49200 43582 5618 43805 35044 8761 16250 13000 3250 4504 4054 450 7278 7278 ENTREPRENEUR IN RESIDEN 181130 181130 DUES & SUBSCRIPTION 10001 8001 2000 PRINTING & POSTAGE 4237 3390 847 1888017 1479150 408867 0 648207 3823369 3281135 250000 1325996 5964 5752 12750 8173 8284 4577 5374404 9124037 1500 1500 9569494 14285231 155166 412384 114208 127433 269374 539817 X 152359 212540 503357 322336 8644404 13210538 9300120 13745414 9569494 14285231 4445294 0 X X 0 1 X 1 1 1 X 605000 3000000 10000000 1052650 5611109 20268759 605000 3000000 10000000 1052650 5611109 20268759 20268759 9000 9000 20277759 884317 0.99960 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 60000 60000 1828017 1888017 244401 61100 0 0 304758 124266 238951 244401 912376 1368564 25000 40000 40000 60000 165000 76190 31067 59738 61100 228095 342143 12750 8173 4577 4577 SEED FUNDING LOANS RECEIVABLE 7458437 C SEED FUNDING LOANS INTEREST RECEIVABLE 865600 C EQUITY INVESTMENTS 800000 C 9124037 X 6333311 0 6333311 0 6333311 1888017 0 1888017 0 1888017 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. X X 0 0 0 0 0 0 0 0 0 JANE TEAGUE CHIEF OPERATING OFFICER 137033 0 0 0 0 0 0 0 47408 0 184441 0 0 0 JAMIE GROOMS CHIEF EXECUTIVE OFFICER 173403 0 0 0 0 0 0 0 59260 0 232663 0 0 0 JOSEPH REDDY ENTREPRENEUR-IN-RESIDENCE 119575 0 0 0 0 0 0 0 39460 0 159035 0 0 0 ALISON TANNER ENTREPRENEUR-IN-RESIDENCE 120918 0 0 0 0 0 0 0 39903 0 160821 0 0 0 FORM 990, PART III, LINE 2 SEE FORM 990, PART III, LINE 4. FORM 990, PART VI, SECTION A, LINE 4 ON 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 7A A BOARD OF DIRECTOR MEMBER ORGANIZATION HAS THE POWER TO APPOINT A MEMBER OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE TREASURER REVIEWS THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS 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 15 DURING 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 19 GOVERNING 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. FLORIDA TECHNOLOGY SEED CAPITAL FUND LLC 3651 FAU BOULEVARD SUITE 400 BOCA RATON FL 33431 463686978 INVESTMENT FUNDING IN INNOVATION BUSINESSES FL 4508100 4283225 INSTITUTE FOR THE COMMERCIALIZATION OF PUBLIC RESEARCH INC