2015-11-13T13:30:14-06:00 2015-06-30 650406502 DASZKAL BOLTON LLP 2401 NW BOCA RATON BLVD BOCA RATON FL 334316639 990 2014-07-01 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 2015-11-13 1 KEVIN E REYNOLDS P00178156 5613671040 2014 2016-02-25 16:41:14Z JANE TEAGUE 3651 FAU BLVD SUITE 400 BOCA RATON FL 33431 6220212 0 X WWW.FLORIDA-INSTITUTE.COM X 2007 FL PROMOTING ECONOMIC DEVELOPMENT THROUGH THE COMMERCIALIZATION OF NEW DISCOVERIES. 5 5 0 55 0 0 5611109 5622135 723371 598077 -1169 0 0 0 6333311 6220212 0 0 0 0 1359247 1346342 0 0 0 528770 1822131 1888017 3168473 4445294 3051739 14285231 17307780 539817 510627 13745414 16797153 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 NEW VENTURES AND JOBS THAT ARE CREATED, AND THE AMOUNT OF CAPITAL INVESTED INTO NEW VENTURES. 0 0 2761357 598077 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 $500,000 TO QUALIFIED EARLY STAGE COMPANIES. RECIPIENTS MUST MATCH INSTITUTE FUNDING WITH PRIVATE INVESTMENT CAPITAL, AND FUNDED COMPANIES HAVE RAISED AS MUCH AS 4-5 TIMES THE AMOUNT PROVIDED BY THE INSTITUTE IN PRIVATE MATCHING FUNDS. THIS YEAR THE INSTITUTE PROVIDED FIRST ROUND FUNDING TO TWELVE COMPANIES, SIX THROUGH ITS SEED CAPITAL ACCELERATOR PROGRAM WHICH IS NOW FULLY-DEPLOYED, AND SIX THROUGH ITS FLORIDA TECHNOLOGY SEED CAPITAL FUND WHICH WAS CREATED IN 2013. ADDITIONALLY, FOLLOW-ON ROUND FUNDING WAS PROVIDED TO FIVE COMPANIES THAT HAD RECEIVED FIRST ROUND FUNDING PREVIOUSLY, AND SEVERAL OTHER NEW COMPANY OPPORTUNITIES WERE REVIEWED AND APPROVED FOR FUNDING CONSIDERATION. THE INSTITUTE SEEKS AND SECURES 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. 2761357 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 15 0 1 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X X JANE TEAGUE 5613688889 3651 FAU BLVD SUITE 400 BOCA RATON FL 33431 X DAVID DAY VICE CHAIRMAN 1.00 X X 0 0 0 HAL VALECHE TREASURER 1.00 X 0 0 0 MANNY FERNANDEZ BOARD MEMBER 1.00 X 0 0 0 RENEE FINLEY BOARD MEMBER 1.00 X 0 0 0 RICK WASSEL BOARD MEMBER 1.00 X 0 0 0 JANE TEAGUE CHIEF OPERATING OFFICER 40.00 X 159004 0 56691 JAMIE GROOMS CHIEF EXECUTIVE OFFICER 40.00 X 199303 0 70119 JOSEPH REDDY ENTREPRENEUR-IN-RESIDENCE 40.00 X 124003 0 40921 ALLISON TANNER ENTREPRENEUR-IN-RESIDENCE 40.00 X 128132 0 42283 LAWRENCE TINKER ENTREPRENEUR-IN-RESIDENCE 40.00 X 118891 0 39234 729333 0 249248 5 0 1 0 0 5500000 122135 5622135 SCAP LOAN INTEREST INC 522291 389761 389761 CLOSING FEES 522291 108316 108316 START UP QUEST REVENUE 541610 100000 100000 598077 6220212 598077 0 0 384273 307418 76855 648430 518744 129686 282275 225820 56455 31364 25091 6273 25820 16525 9295 43653 6713 36940 60781 60781 17100 13680 3420 11544 10138 1406 53871 47894 5977 37231 29785 7446 19492 15594 3898 2313 2082 231 5385 5385 BAD DEBT 1203736 1203736 ENTREPRENEUR IN RESIDEN 325856 325856 DUES & SUBSCRIPTION 12322 9859 2463 PRINTING & POSTAGE 3027 2422 605 3168473 2761357 407116 0 3823369 4104100 1325996 1393076 5752 5008 12750 10486 4577 2264 9124037 11801832 1500 1500 14285231 17307780 412384 387126 127433 123501 539817 510627 X 212540 -855308 322336 52162 13210538 17600299 13745414 16797153 14285231 17307780 3051739 0 X X 0 1 X 1 1 1 X 3000000 10000000 1052650 5611109 5622135 25285894 3000000 10000000 1052650 5611109 5622135 25285894 25285894 9000 9000 25294894 1482394 0.99960 0.99960 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: REVENUE FROM FEES - 2011 AMOUNT: $ 9,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 60781 60781 3107692 3168473 308424 77106 0 0 124266 238951 244401 308424 916042 1374063 40000 40000 60000 60781 200781 31067 59738 61100 77106 229011 343517 1966 1966 0 10784 8520 2264 2264 SEED FUNDING LOANS RECEIVABLE LESS ALLOWANCE 7709763 C SEED FUNDING LOANS INTEREST RECEIVABLE 1634905 C EQUITY INVESTMENTS 2457164 C 11801832 X 6220212 0 6220212 0 6220212 3168473 0 3168473 0 3168473 PART X, LINE 2: THE INSTITUTE IS A NON-PROFIT CORPORATION WHICH IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC") AND, ACCORDINGLY, GENERALLY WOULD NOT INCUR INCOME TAXES. THE FUND IS A SINGLE MEMBER LIMITED LIABILITY COMPANY AND ITS RESULTS ARE INCLUDED IN THE INSTITUTE'S TAX FILINGS. AS A RESULT, THE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES. THE ORGANIZATION RECOGNIZES AND MEASURES TAX POSITIONS BASED ON THEIR TECHNICAL MERIT AND ASSESSES THE LIKELIHOOD THAT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BASED ON THE FACTS, CIRCUMSTANCES AND INFORMATION AVAILABLE AT THE END OF THE YEAR. AT JUNE 30, 2015, THE ORGANIZATION HAS NO LIABILITIES FOR UNCERTAIN TAX POSITIONS. THE ORGANIZATION CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. THE U.S. FEDERAL JURISDICTION IS THE MAJOR TAX JURISDICTION WHERE THE ORGANIZATION FILES INCOME TAX RETURNS. THE ORGANIZATION IS GENERALLY NO LONGER SUBJECT TO U.S. FEDERAL EXAMINATIONS BY TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2011. X X 0 0 0 0 0 0 0 0 0 JANE TEAGUE CHIEF OPERATING OFFICER 159004 0 0 0 0 0 0 0 56691 0 215695 0 0 0 JAMIE GROOMS CHIEF EXECUTIVE OFFICER 199303 0 0 0 0 0 0 0 70119 0 269422 0 0 0 JOSEPH REDDY ENTREPRENEUR-IN-RESIDENCE 124003 0 0 0 0 0 0 0 40921 0 164924 0 0 0 ALLISON TANNER ENTREPRENEUR-IN-RESIDENCE 128132 0 0 0 0 0 0 0 42283 0 170415 0 0 0 LAWRENCE TINKER ENTREPRENEUR-IN-RESIDENCE 118891 0 0 0 0 0 0 0 39234 0 158125 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNOR OF FLORIDA 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. UF PROVIDES COMPARABILITY DATA FOR EXECUTIVE SALARIES IN ORDER TO MAKE RECOMMENDATIONS TO THE INSTITUTE'S MANAGEMENT REGARDING COMPENSATION. DURING 2014, THE INSITUTE ENGAGED A COMPENSATION SPECIALIST TO EVALUATE EXECUTIVE COMPENSATION. THE BOARD TOOK ACTION BASED ON THE FINDINGS OF THE SPECIALISTS REPORT. 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. PART V, LINES 2A, 2B & PART VII, SECTION A DURING JANUARY 2012, THE INSTITUTE ENGAGED THE UNIVERSITY OF FLORIDA (UF) TO PROVIDE PERSONNEL EMPLOYMENT SERVICES TO THE ORGANIZATION. 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 4076498 8693970 INSTITUTE FOR COMMERCIALIZATION OF PUBLIC RESEARCH INC