2012-08-22T13:49:29-05:00 2011-12-31 PLANTE & MORAN PLLC PO BOX 307 SOUTHFIELD MI 480370307 990 2011-01-01 412061387 WAYNE STATE UNIVERSITY RESEARCH AND TECHNOLOGY PARK IN THE CITY OF DETROIT WAYN 3138871639 440 BURROUGHS DETROIT MI 48202 LESLIE SMITH 3138871639 2012-08-16 1 SUE MIENCIER P00842339 2483522500 2011 2016-02-24 21:20:13Z TECHTOWN LESLIE SMITH 440 BURROUGHS DETROIT MI 48202 9348066 0 X WWW.TECHTOWNWSU.ORG X 2000 MI TECHTOWN'S MISSION IS TO BE AN INDISPENSIBLE MEMBER OF THE COMMUNITY COMMITTED TO GROWING SMALL BUSINESS IN DETROIT. TECHTOWN PROVIDES EARLY STAGE BUSINESSES AND ENTREPRENEURS WITH POINTED EDUCATIONAL CURRICULUM, ONE-ON-ONE ADVISING, AND ACCESS TO CAPITAL AND TALENT THROUGH OUR CORE PROGRAMS. TECHTOWN IS DRIVEN BY ORGANIZATIONAL CORE VALUES: EMPOWERED, INTENTIONAL AND BOLD. 22 22 38 22 80389 -104311 4048375 9244195 75068 101725 2920 59 -42876 2087 4083487 9348066 0 0 0 0 1417578 1722618 0 0 114223 1404766 1572361 2822344 3294979 1261143 6053087 4949571 11765007 771583 2372666 4177988 9392341 X TECHTOWN IS A COMMUNITY OF PASSIONATE, DIVERSE PEOPLE AND BUSINESSES DRIVEN BY AN ENTREPRENEURIAL SPIRIT TO PURSUE EXTRAORDINARY OPPORTUNITIES. ENTREPRENEURS JOIN TECHTOWN TO GAIN GUIDANCE AND GET CONNECTED WITH RESOURCES NEEDED FOR SUCCESS. TECHTOWN OFFERS ENTREPRENEURS UNIQUE ACCESS TO WAYNE STATE UNIVERSITY'S RESEARCH, ACADEMIC AND TECHNOLOGY ASSETS. BY REIGNITING AN ENTREPRENEURIAL CULTURE, TECHTOWN IS FUELING BUSINESS GROWTH, JOB CREATION AND THE REVITALIZATION OF DETROIT'S MIDTOWN AND BEYOND. 0 0 2315883 21336 PROGRAMS AND EDUCATION: ENTREPRENEURS JOIN TECHTOWN TO GAIN GUIDANCE AND SUPPORT ON THEIR ENTREPRENEURIAL JOURNEY. AN INTAKE TEAM MANAGES INQUIRIES AND DIRECTS ENTREPRENEURS TO THE RESOURCES THAT BEST MEET THEIR NEEDS.TECHTOWN'S THRIVE ACCELERATOR PROGRAM PROVIDES ONE-ON-ONE COACHING TO HELP STARTUPS SET AND REACH MILESTONES, PLUS NETWORKING OPPORTUNITIES AND ACCESS TO TALENT. ENTREPRENEURS IN THRIVE ACHIEVE A FUNDING STRATEGY AND GAIN ACCESS TO CAPITAL THROUGH A DEDICATED CHAMPION, INCLUDING SUPPORT WITH CROWDFUNDING CAMPAIGNS, TRADITIONAL FINANCING AND MORE.TECHTOWN HOSTS EDUCATIONAL WORKSHOPS ON ESSENTIAL BUSINESS TOPICS LIKE BOOTSTRAPPING, MARKET RESEARCH AND SALES, INCLUDING THE KAUFFMAN FOUNDATION'S AWARD-WINNING FASTTRAC PROGRAMS. TECHTOWN ALSO PROVIDES FREE ONE-ON-ONE BUSINESS COUNSELING TO THE PUBLIC IN MONTHLY TUNE-UP SESSIONS.IMPACT:- SINCE 2007, TECHTOWN HAS PROVIDED SUPPORT TO 647 COMPANIES, WHICH HAVE CREATED 1,085 JOBS. - ACTIVE AND GRADUATE CLIENTS GENERATED A COMBINED TOTAL OF $52 MILLION IN REVENUE IN 2011. IN 2010, ACTIVE AND GRADUATE CLIENTS GENERATED $41 MILLION IN REVENUE. - IN EXCESS OF 2,200 PEOPLE HAVE RECEIVED ENTREPRENEURIAL TRAINING THROUGH TECHTOWN SINCE 2008. - TECHTOWN HAS INTRODUCED MORE THAN 8,000 MICHIGAN RESIDENTS TO AN ENTREPRENEURIAL CULTURE THROUGH NETWORKING EVENTS, CONFERENCES AND WALK-IN SESSIONS.CAPITAL:AT TECHTOWN, CLIENTS WORK WITH A DEDICATED CHAMPION WHO HELPS THEM UNDERSTAND THE FUNDING PROCESS AND HOW TO BECOME ELIGIBLE FOR FUNDING OPPORTUNITIES. CLIENTS RECEIVE ACCESS TO 62 FUNDS POSITIONED ACROSS THE CAPITAL LANDSCAPE, AND TECHTOWN HELPS PREPARE THEM FOR FUNDING OPPORTUNITIES APPROPRIATE TO THEIR STAGE OF DEVELOPMENT.TECHTOWN'S THRIVE ONE FUND ENCOURAGES MINORITIES AND WOMEN TO BUILD THEIR BUSINESS IN THE CITY OF DETROIT AND CONTRIBUTE TO THE ECONOMIC GROWTH OF THE REGION. TECHTOWN PROVIDES COACHING, ENTREPRENEURIAL TRAINING AND FUNDING TO SUITABLE LOAN CANDIDATES. ADDITIONALLY, TECHTOWN IS THE FUNDING STRATEGY FACILITATOR FOR THE $500,000 HEBREW FREE LOAN FOR JEWISH ENTREPRENEURS COMMITTED TO REMAINING IN SOUTHEAST MICHIGAN. CANDIDATES WHO ARE GRANTED A HEBREW FREE LOAN ALSO RECEIVE ACCESS TO TECHTOWN'S COMPREHENSIVE ENTREPRENEURIAL SUPPORT SYSTEM.IMPACT:- WITH TECHTOWN'S ASSISTANCE, CLIENTS HAVE RAISED $84 MILLION IN FUNDING SINCE 2007 FROM INVESTMENT FUNDS INCLUDING THE FIRST STEP FUND, THE MICHIGAN PRE-SEED CAPITAL FUND, DETROIT MICRO-ENTERPRISE FUND AND AUTOMATION ALLEY. - THROUGH THE TECHTOWN LOAN FUND AND THE THRIVE ONE FUND, TECHTOWN HAS INVESTED $790,000 DIRECTLY IN CLIENTS.UNIVERSITY ASSETS, TALENT, INNOVATION PIPELINES:TECHTOWN PROVIDES ENTREPRENEURS WITH UNIQUE ACCESS TO WAYNE STATE UNIVERSITY'S RESEARCH, ACADEMIC AND TECHNOLOGY ASSETS. CLIENTS COMMERCIALIZING UNIVERSITY TECHNOLOGY RECEIVE SUPPORT FROM THE UNIVERSITY'S TECHNOLOGY COMMERCIALIZATION TEAM ON LICENSING AND INTELLECTUAL PROPERTY PROTECTION. COMPANIES ALSO RECEIVE ACCESS TO PROTOTYPING AND OTHER TECHNICAL EQUIPMENT ACROSS CAMPUS, AND RECEIVE FREE LEGAL COUNSEL THROUGH LAW SCHOOL CLINICS. ENTREPRENEURS GAIN OPPORTUNITY FROM ACADEMIC AND INDUSTRY COLLABORATIONS THROUGH THE UNIVERSITY RESEARCH CORRIDOR, COMPRISED OF WAYNE STATE UNIVERSITY, THE UNIVERSITY OF MICHIGAN AND MICHIGAN STATE UNIVERSITY.OUR COMMUNITY IS COMPRISED OF DRIVEN ENTREPRENEURS, INTERNS, EXPERIENCED MENTORS AND PROFESSIONALS RE-ENTERING THE WORKFORCE. TECHTOWN SERVES AS A CONDUIT BRINGING PEOPLE TOGETHER TO INNOVATE, COACH, TRANSFER KNOWLEDGE AND NETWORK TO EXPAND BUSINESS AND EMPLOYMENT OPPORTUNITIES. A NETWORK OF 100 DEDICATED INDUSTRY EXPERTS FROM ACROSS SOUTHEAST MICHIGAN MENTOR CLIENTS TO HELP THEM ACHIEVE MILESTONES ON THEIR JOURNEY TO SUCCESS. STARTUPS AT TECHTOWN GET CONNECTED WITH INTERNS THROUGH A PROGRAM ESTABLISHED BY TECHTOWN AND WAYNE STATE UNIVERSITY. THESE COMPANIES ARE ELIGIBLE TO RECEIVE 50 TO 100 PERCENT REIMBURSEMENT FOR STUDENTS' SALARIES FROM THE UNIVERSITY.LONG A REGION OF INNOVATION, THE MIDTOWN AREA OF DETROIT WHERE TECHTOWN IS LOCATED SEES HUNDREDS OF MILLIONS OF DOLLARS INVESTED IN RESEARCH ANNUALLY BY MEDICAL INSTITUTIONS SUCH AS THE DETROIT MEDICAL CENTER AND THE KARMANOS CANCER INSTITUTE. WAYNE STATE UNIVERSITY IS MICHIGAN'S ONLY URBAN RESEARCH UNIVERSITY AND IS TECHTOWN'S PRIMARY PIPELINE OF TECHNOLOGY FOR COMMERCIALIZATION. IT IS AMONG ONLY 3.6 PERCENT OF ALL U.S. UNIVERSITIES WITH THE CARNEGIE CLASSIFICATION OF RU/VH (RESEARCH UNIVERSITIES/VERY HIGH RESEARCH ACTIVITY).THE HENRY FORD HEALTH SYSTEM (HFHS) CONTRIBUTES SIGNIFICANTLY TO THE INNOVATION PIPELINE WITH RESEARCH ACTIVITIES HOUSED AT TECHTOWN. THE HFHS RECENTLY LAUNCHED THE INNOVATION INSTITUTE, A CENTER BRINGING MEDICAL RESEARCHERS FROM AROUND THE COUNTRY TOGETHER WITH ENGINEERS AND DESIGNERS TO START FOR-PROFIT COMPANIES MAKING MEDICAL DEVICES; THE INSTITUTE IS BECOMING A POWERFUL PARTNER IN TECHNOLOGY COMMERCIALIZATION.IMPACT:- VOLUNTEER MENTORS HAVE COMMITTED MORE THAN 4,000 HOURS OF COACHING WITH TECHTOWN STARTUPS SINCE 2008, COUNSEL VALUED AT $400,000. - SINCE 2009, TECHTOWN HAS PLACED 74 INTERNS WHO HAVE LOGGED 20,000 HOURS, REPRESENTING $200,000 IN WAGES.- WAYNE STATE UNIVERSITY'S RESEARCH EXPENDITURES TOTALED $254 MILLION IN 2010. 2315883 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 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 0 1 1 1 0 0 1 74 0 1 38 1 1 1 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 0 0 0 0 0 MI X LESLIE SMITH 3138795249 440 BURROUGHS DETROIT MI 48202 ALLEN GILMOUR 1.00 X X 0 0 0 FAYE NELSON 1.00 X X 0 0 0 JAMES CONNELLY 1.00 X X 0 0 0 DAVID BLASZKIEWICZ 1.00 X X 0 0 0 LIZABETH ARDISANA 1.00 X 0 0 0 JOHN BLANCHARD 1.00 X 0 0 0 ROBERT CHARLES 1.00 X 0 0 0 MATTHEW CULLEN 1.00 X 0 0 0 HON DEBBIE DINGELL 1.00 X 0 0 0 DR FARSHAD FOTOUHI 1.00 X 0 0 0 PAUL HILLEGONDS 1.00 X 0 0 0 BRIAN HOLDWICK 1.00 X 0 0 0 HON ANNETTA MILLER 1.00 X 0 0 0 RICK NORK 1.00 X 0 0 0 HON CHARLES PUGH 1.00 X 0 0 0 DR HILARY RATNER 1.00 X 0 0 0 ROSS SANDERS 1.00 X 0 0 0 A PAUL SCHAAP PHD 1.00 X 0 0 0 MARC SCHWARTZ 1.00 X 0 0 0 NED STAEBLER 1.00 X 0 0 0 ROBERT THOMAS 1.00 X 0 0 0 MARGARET WILLIAMS 1.00 X 0 0 0 RANDALL CHARLTON 40.00 X 93091 0 3476 ALEXANDER BACON 40.00 X 109471 0 13109 LESLIE SMITH 40.00 X 142955 0 24120 KENNETH MESKIN 40.00 X 93076 0 16056 438593 0 56761 2 0 1 0 PHOENIX CONTRACTORS INC 2111 GOLFSIDE DRIVE YPSILANTI MI 48197 CONSTRUCTION 341395 AVALON LLC 13046 PARTRIDGE RUN SHELBY TOWNSHIP MI 48135 CONSULTING 101409 2 572415 8671780 9244195 MANAGEMENT FEES 611310 80389 80389 ENTREPRENEUR LOAN INTE 900099 21336 21336 101725 59 59 ADMINISTRATIVE INCOME 900099 2087 2087 2087 9348066 21336 80389 2146 491880 344315 122970 24595 1002950 723737 232678 46535 131795 92256 32949 6590 95993 67195 23998 4800 3997 2998 999 31280 23460 7820 520431 390323 130108 76950 46171 30779 73787 44272 29515 112397 84299 28098 125067 123935 1132 160338 80169 80169 12267 12267 64906 64906 8357 5014 3343 BUSINESS START-UP EXPEN 104031 104031 BAD DEBT EXPENSE 62946 62946 SUBSCRIPTIONS & PUBS. 9235 4617 3694 924 REPAIRS & MAINT. 1384 1384 204988 102494 102494 3294979 2315883 864873 114223 767665 854064 3842897 11135358 163944 221053 615144 251257 144148 363887 10652 -828082 20265 18727 4949571 11765007 617766 1250922 153817 185729 936015 771583 2372666 X 2017859 8669797 2160129 722544 4177988 9392341 4949571 11765007 X 6053087 -838734 X X 0 1 1 X 0 X 1853031 1139213 3381512 4048375 9244195 19666326 64068 343463 281980 689511 1917099 1482676 3663492 4048375 9244195 20355837 1500000 625882 1125882 900000 4151764 72472 32110 415265 519847 1500000 625882 72472 1157992 1315265 4671611 15684226 410 12446 5909 2920 59 21744 100266 149600 80389 330255 410 12446 106175 152520 80448 351999 5173 1067 3716 19884 23423 53263 1922682 1496189 3773383 4220779 9348066 20761099 0.75550 0.68820 0.01700 0.02090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 169183 5432 163751 358245 160777 197468 87716 85048 2668 363887 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: FIN 48 DISCLOSURE: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2011 AND 2010, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. X 0 0 0 0 0 0 0 0 0 LESLIE SMITH 142955 0 0 0 0 0 0 0 24120 0 167075 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A WAYNE STATE UNIVERSITY MAY APPOINT UP TO EIGHT MEMBERS. FURTHER, THE WAYNE STATE BOARD OF GOVERNORS MAY APPOINT UP TO TWO MEMBERS. GENERAL MOTORS, HENRY FORD HEALTH SYSTEM, AND THE CITY OF DETROIT MAY ALSO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 WILL BE REVIEWED BY THE EXECUTIVE DIRECTOR PRIOR TO FILING. NO FORMAL BOARD REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT AVAILABLE FOR PUBLIC INSPECTION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -838,734. FORM 990, PART XIII, LINE 2C: THE AUDIT PROCESS HAS NOT CHANGED FROM PREVIOUS YEARS. TECHONE DEVELOPMENT LLC 440 BURROUGHS DETROIT MI 48202 201062523 LANDLORD MI N/A TECHONE HOLDING CORPORATION 440 BURROUGHS DETROIT MI 48202 201062426 MASTER SUB-TENANT MI WAYNE STATE UNIVERSITY RESEARCH AND TECHNOLOGY PARK IN THE CITY OF DETROIT C -1103194 12888093 1.00000 0 1 1 0 0 0 0 0 0 1 1 0 1 1 0 1 0 0 TECHONE HOLDING CORPORATION K 80389 CASH TRANSACTION TECHONE HOLDING CORPORATION J 122202 CASH TRANSACTION TECHONE HOLDING CORPORATION P 550766 CASH TRANSACTION TECHONE DEVELOPMENT LLC P 1183600 CASH TRANSACTION