2012-03-26T08:36:07-05:00 2011-06-30 O'CONNOR DAVIES MUNNS & DOBBINS LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2010-07-01 113600385 DOWNSTATE TECHNOLOGY CENTER INC DOWN 7182703176 450 CLARKSON AVE BOX 65 BROOKLYN NY 11203 PAUL DAVIS 7182703176 2012-03-22 1 GARRETT HIGGINS 9143818900 2012-03-22 2010 2016-02-24 21:20:13Z EVA CRAMER PHD 450 CLARKSON AVE BOX 65 BROOKLYN NY 11203 1095867 0 X HTTP://INCUBATOR.DOWNSTATE.EDU/INCUBATOR.HTM X 2000 NY SEE SCHEDULE O FOR CONTINUATION DOWNSTATE TECHNOLOGY CENTER, INC. (DTC) WAS FORMED TO HELP PROVIDE AN ENVIRONMENT IN WHICH NEW AND TECHNOLOGICALLY INNOVATIVE BUSINESSES CAN DEVELOP SCIENTIFIC AND MEDICAL RESEARCH INTO COMMERCIALLY VIABLE PRODUCTS AND SERVICES. THIS IS PRINCIPALLY ACCOMPLISHED BY DEVELOPING AND OFFERING RENTAL SPACE THAT CAN ACCOMMODATE THE NEEDS OF SUCH BUSINESSES, AND DEVELOPING PROGRAMS TO FOSTER THE GROWTH OF AN APPROPRIATE LABOR FORCE. 10 10 0 0 0 0 274355 138619 859016 955942 0 0 12293 1306 1145664 1095867 14950 0 0 0 0 0 0 0 0 1250996 1242723 1265946 1242723 -120282 -146856 199875 183625 2786588 2917194 -2586713 -2733569 X DOWNSTATE TECHNOLOGY CENTER, INC. (DTC) WAS FORMED TO HELP PROVIDE AN ENVIRONMENT IN WHICH NEW AND TECHNOLOGICALLY INNOVATIVE BUSINESSES CAN DEVELOP SCIENTIFIC AND MEDICAL RESEARCH INTO COMMERCIALLY VIABLE PRODUCTS AND SERVICES. THIS IS PRINCIPALLY ACCOMPLISHED BY DEVELOPING AND OFFERING RENTAL SPACE THAT CAN ACCOMMODATE THE NEEDS OF SUCH BUSINESSES, AND DEVELOPING PROGRAMS TO FOSTER THE GROWTH OF AN APPROPRIATE LABOR FORCE. 0 0 40720 DTC SEEKS TO FOSTER THE GROWTH OF THE BIOSCIENCE/BIOTECHNOLOGY WORKFORCE SO THAT INNOVATIVE, GROWING BUSINESSES IN THIS INDUSTRY HAVE AN APPROPRIATELY TRAINED LABOR FORCE. THE PROGRAM THAT DTC OFFERS IN CONJUNCTION WITH HUNTER COLLEGE PROVIDES LECTURES, HANDS-ON WORKSHOPS, PROFESSIONAL INTERNSHIPS, AND HELP WITH EMPLOYMENT PLACEMENT. AS OF JUNE 2011, THE PROGRAM TRAINED 302 INDIVIDUALS, PLACED 133 IN INTERNSHIPS AND FOUND EMPLOYMENT FOR 137. THIS PROGRAM IS FUNDED BY THE HELENA RUBINSTEIN FOUNDATION, WHICH PROVIDED A $40,000 GRANT FOR THIS FISCAL YEAR, FOR A PROGRAM COORDINATOR. 961869 955942 DTC DEVELOPS AND OFFERS RENTAL SPACE THAT MEETS THE REQUIREMENTS OF NEW AND TECHNOLOGICALLY INNOVATIVE BUSINESSES. DTC MANAGES TWO BUILDINGS, AND AS OF JUNE 2011, SERVED 9 TENANTS IN ONE BUILDING AND 5 TENANTS IN THE OTHER. 1002589 1 1 0 1 0 0 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X X SAM KIEL 7182704358 450 CLARKSON AVENUE BROOKLYN NY 11203 X EVA CRAMER PHD 30.00 X X 0 0 0 IVAN M LISNITZER 4.00 X X 0 0 0 JOAN BARTOLOMEO 1.00 X 0 0 0 JOHN C LAROSA MD 2.00 X X 0 0 0 PAUL DAVIS 2.00 X X 0 0 0 GREGORY W O'CONNOR 1.00 X 0 0 0 JAMES A WEYHENMEYER PHD 1.00 X 0 0 0 CHARLES D DILKS 1.00 X 0 0 0 GARRETT R SANDERS 1.00 X 0 0 0 STEPHEN M KAMINSKY 1.00 X 0 0 0 FRANCI SCHARF 3.00 X 0 0 0 DAVID NORTON 40.00 X 0 0 0 0 0 0 0 0 0 0 0 89293 49326 138619 RENTAL INCOME 900099 955942 955942 955942 OTHER INCOME 900099 1306 1306 1306 1095867 955942 0 1306 44008 44008 50825 50825 45000 45000 83763 83763 20926 20926 317762 317762 2090 2090 4290 4290 99511 99511 PURCHASED SERVICES 387870 387870 MAINTENANCE 185207 185207 BAD DEBT EXPENSE 790 790 MISCELLANEOUS 681 681 1242723 1002589 240134 0 143822 91692 43069 16684 12984 23792 0 51457 199875 183625 39433 44580 3912 4115 51457 2743243 2817042 2786588 2917194 X -2586713 -2733569 -2586713 -2733569 199875 183625 -146856 0 X X 0 1 1 X 0 X 147725 323445 299905 274335 138619 1184029 147725 323445 299905 274335 138619 1184029 94858 1089171 59496 12293 1306 73095 1257124 4103014 0.86640 0.69260 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME INSURANCE SETTLEMENT PROPERTY TAX REFUND RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 45000 45000 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: DTCI UTILIZED THE SERVICES OF YOSWEIN NEW YORK TO ENGAGE IN LOBBYING ACTIVITIES. SUBJECTS THAT WERE LOBBIED WERE: CAPITAL FUNDING FOR NEW RESEARCH BUILDING AND ACADEMIC CENTER; CAPITAL FUNDING FOR BIOTECH INCUBATOR, AND SUNY BUDGET CUTS. 0 1 0 SECURITY DEPOSITS 51457 51457 DUE TO STATE U. OF NY DOWNSTATE MEDICAL CENTER 644272 DUE TO RESEARCH FOUNDATION OF STATE U OF NY 1428276 DUE TO HEALTH SCIENCE CENTER AT BROOKLYN FOUNDATION, INC. 744494 2817042 1095867 1242723 -146856 0 -146856 1395867 300000 300000 1095867 0 1095867 1542723 300000 300000 1242723 0 1242723 PART IV, LINE 2B: THE ORGANIZATION HOLDS SECURITY DEPOSITS FOR TENANTS IN AN ESCROW ACCOUNT UNTIL THE END OF THE LEASE. ONCE THE END OF THE LEASE OCCURS, AND THE ORGANIZATION VERIFIES THAT NO DAMAGE OR REPAIRS NEEDS TO BE DONE TO THE PROPERTY THAT WAS BEING LEASED, THE SECURITY DEPOSIT IS RETURNED TO THE TENANT. THE SECURITY DEPOSIT RETURNED TO THE TENANT IS NET OF ANY OUTSTANDING FEES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: DTC RECOGNIZES THE EFFECT OF TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT DTC HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. DTC IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO JUNE 30, 2008. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS TWO MEMBERS: THE RESEARCH FOUNDATION OF THE STATE UNIVERSITY OF NEW YORK AND THE HEALTH SCIENCE CENTER AT BROOKLYN FOUNDATION INC. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE ORGANIZATION IS ALLOWED TO ELECT FOUR TRUSTEES TO REPRESENT THEM. IN ADDITION, THE MEMBERS ELECT TWO TRUSTEES JOINTLY. THE TRUSTEES DIRECT THE MANAGEMENT AND OPERATION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11 DOWNSTATE TECHNOLOGY CENTER INC. HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. AFTER THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO DIRECTORS, AND OFFICERS OF THE ORGANIZATION. THE CONFLICT OF INTEREST POLICY IS UPDATED AS NEEDED. THE LAST UPDATE WAS ON JUNE 27, 2011. IT IS THE RESPONSIBILITY OF THE BOARD MEMBERS TO NOTIFY DTC OF ANY POTENTIAL CONFLICTS AS THEY ARISE. THE BOARD OF DIRECTORS WILL DETERMINE, BASED ON THE FACTS, IF A CONFLICT ACTUALLY EXISTS. IF THE BOARD DETERMINES THAT A CONFLICT EXISTS, THE AFFECTED DIRECTOR SHALL ABSTAIN FROM VOTING ON THE MATTER. THE AFFECTED DIRECTOR MAY PARTICIPATE IN DISCUSSIONS ON THE MATTER IN QUESTION ONLY IF ASKED FOR INFORMATION BY A MAJORITY OF THE REMAINING BOARD MEMBERS. THE AFFECTED DIRECTOR MUST WITHDRAW FROM THE MEETING CONCERNING THE MATTER IN QUESTION IF REQUESTED BY THE REMAINING BOARD MEMBERS. THE MINUTES OF THE BOARD SHALL REFLECT THE ACTIONS OF THE BOARD OF DIRECTOR AND THE AFFECTED DIRECTOR. FORM 990, PART VI, LINE 15A AND 15B DOWNSTATE TECHNOLOGY CENTER IS AFFILIATED TO SUNY DOWNSTATE MEDICAL CENTER AND THE RESEARCH FOUNDATION OF SUNY, WHICH PAY EMPLOYEE SALARIES DIRECTLY THROUGH THEIR PAYROLL DEPARTMENTS. THE COSTS FOR SALARY AND FRINGE BENEFITS ARE THEN CHARGED BACK TO DTC. SALARIES ARE DETERMINED BY CLASS AND COMPENSATION BASED ON GRADE AND POSITION TITLE. THE STATE AND RESEARCH FOUNDATION SYSTEM HAVE SPECIFIC GUIDELINES ON SALARY AND GRADE LEVEL BASED ON JOB RESPONSIBILITIES. FORM 990, PART VI, SECTION C, LINE 19 THE EXEMPT ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE BY POSTING IT ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, FORM 990 AS WELL AS THE FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST AT 450 CLARKSON AVENUE, BOX 65, BROOKLYN, NY 11203...OR BY CALLING THE ORGANIZATION DIRECTLY AT (718)-270-3176. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.