2026-04-14T16:30:06-05:00 2025-06-30 333303535 EFPR ADVISORY LLC 6390 MAIN STREET SUITE 200 WILLIAMSVILLE NY 14221 990 2024-07-01 113600385 DOWNSTATE TECHNOLOGY CENTER INC DOWN 7182703176 450 CLARKSON AVE BOX 65 BROOKLYN NY 11203 RICHARD MILLER TREASURER 7182703176 2026-04-10 1 0 DAVID A URBAN CPA P00630018 7166340700 2026-04-10 2024 2025-03-06 01:10:19Z RICHARD MILLER 450 CLARKSON AVE BOX 65 BROOKLYN NY 11203 3143464 0 X WWW.DOWNSTATE.EDU X 2000 NY DOWNSTATE TECHNOLOGY CENTER, INC. (DTC) WAS FORMED TO PROVIDE AN ENVIRONMENT IN WHICH NEW AND TECHNOLOGICALLY INNOVATIVE BUSINESSES CAN DEVELOP SCIENTIFIC AND MEDICAL RESEARCH THAT CAN BE TRANSLATED INTO COMMERCIALLY VIABLE HIGH TECHNOLOGY PRODUCTS AND SERVICES AND/OR RENTAL SPACE IN INCUBATOR AND RESEARCH FACILITIES IN BROOKLYN, NEW YORK. TO ACCOMPLISH THIS, DTC HAS DESIGNED AND DEVELOPED AND CURRENTLY OPERATES STATE-OF-THE-ART INCUBATOR FACILITIES WHERE IT LEASES WET LABORATORY AND OFFICE SPACE TO BIOTECHNOLOGY AND OTHER LIFE SCIENCES COMPANIES TO CONDUCT CUTTING EDGE RESEARCH AND DEVELOPMENT. 9 9 0 0 0 0 142927 125000 2814025 2891585 98370 119615 300 7264 3055622 3143464 0 0 0 0 0 0 0 0 0 2479138 2719337 2479138 2719337 576484 424127 4793757 5373652 955470 1111238 3838287 4262414 X SEE SCHEDULE ODOWNSTATE TECHNOLOGY CENTER, INC. (DTC) WAS FORMED TO PROVIDE AN ENVIRONMENT IN WHICH NEW AND TECHNOLOGICALLY INNOVATIVE BUSINESSES CAN DEVELOP SCIENTIFIC AND MEDICAL RESEARCH THAT CAN BE TRANSLATED INTO COMMERCIALLY VIABLE HIGH TECHNOLOGY PRODUCTS AND SERVICES AND/OR RENTAL SPACE IN INCUBATOR AND RESEARCH FACILITIES IN BROOKLYN, NEW YORK. TO ACCOMPLISH THIS, DTC HAS DESIGNED AND DEVELOPED AND CURRENTLY OPERATES STATE-OF-THE-ART INCUBATOR FACILITIES WHERE IT LEASES WET LABORATORY AND OFFICE SPACE TO BIOTECHNOLOGY AND OTHER LIFE SCIENCES COMPANIES TO CONDUCT CUTTING EDGE RESEARCH AND DEVELOPMENT. 0 0 2464338 2891585 DTC HAS DESIGNED, DEVELOPED AND OPERATES STATE-OF-THE-ART INCUBATOR FACILITIES WHERE IT LEASES WET LABORATORY AND OFFICE SPACE TO BIOTECHNOLOGY AND OTHER LIFE SCIENCES COMPANIES TO CONDUCT CUTTING EDGE RESEARCH AND DEVELOPMENT. AS OF JUNE 30, 2025, DTC HAD A TOTAL OF 26 TENANTS IN THE TWO PROPERTIES THEY MANAGE. 2464338 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 1 0 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 0 0 0 0 1 9 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 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 JOAN BARTOLOMEO TRUSTEE 1.00 X 0 0 0 RICHARD MILLER PHD TREASURER 1.00 X X 0 0 0 HEIDI ARONINMPA TRUSTEE 1.00 X 0 0 0 WAYNE RILEY MD MPHMBAMACP TRUSTEE 1.00 X 0 0 0 NICHOLAS QUERQUES TRUSTEE 1.00 X 0 0 0 DAVID HOCHMAN MBA TRUSTEE 1.00 X 0 0 0 JEFFREY HWANG MBA TRUSTEE 3.00 X 0 0 0 DAVID CHRISTINI PHD TRUSTEE 1.00 X 0 0 0 STEPHEN M KAMINSKY PHD TRUSTEE 1.00 X 0 0 0 A JEFFREY ROSEN MBA ASSISTANT TREASURER 1.00 X 0 0 0 FRANCI SCHARF SECRETARY 1.00 X 0 0 0 BLAKE A ADAIR-WHEELER MPA EXECUTIVE DIRECTOR 40.00 X 0 0 0 SAMUEL KIEL PROGRAM MANAGER 40.00 X 0 0 0 0 0 0 0 0 0 1 PENGUIN MAINTENANCE AND SERVICE 5 PENN PLAZA 16TH FLOOR NEW YORK NY 10001 ELECTRICAL 340193 GROUNDS AND PROPERTY SERVICES 1075 EASTON AVE SUITE 312 SOMERSET NJ 08873 CLEANING 158702 2 125000 125000 RENTAL INCOME 531120 2891585 2891585 2891585 119615 119615 MISCELLANEOUS 900099 7264 7264 7264 3143464 2891585 0 126879 22937 18350 4587 99468 79574 19894 29563 29563 727202 714368 12834 46432 45968 464 209944 171280 38664 MAINTENANCE AND REPAIRS 838825 838825 PURCHASED SERVICES 744966 595973 148993 2719337 2464338 254999 0 827163 634149 2475000 2875000 7042 357391 64241 96306 1118037 160773 921175 957264 499136 453542 4793757 5373652 156964 245301 499136 433122 299370 432815 955470 1111238 X 3838287 4262414 3838287 4262414 4793757 5373652 424127 0 X X 0 1 X 1 0 X 125139 125000 125000 142927 125000 643066 125139 125000 125000 142927 125000 643066 643066 4308 98370 119615 222293 7087 115654 886 300 7264 131191 996550 12829838 0.64530 0.73930 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 7,087. 2021 AMOUNT: $ 697. 2022 AMOUNT: $ 886. 2023 AMOUNT: $ 300. 2024 AMOUNT: $ 7,264. HSCB FOUNDATION INC DEBT FORGIVENESS - 2021 AMOUNT: $ 114,957. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 1118037 160773 957264 957264 DUE FROM THE STATE UNIVERSITY OF NEW YORK DOWNSTATE HEALTH SCIENCES UNIVERSI 20420 SECURITY DEPOSITS 433122 453542 DUE TO HCSB FDN (HEALTH SCIENCE CENTER AT BROOKLYN FOUNDATION INC) 432815 432815 X 3699714 556250 556250 3143464 0 3143464 3275587 556250 556250 2719337 0 2719337 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 OCCURRED OR REPAIRS NEED TO BE DONE TO THE PROPERTY THAT WAS BEING LEASED, THE SECURITY DEPOSIT IS RETURNED TO THE TENANT. THE SECURITY DEPOSIT RETRUNED TO THE TENANT IS NET OF ANY OUTSTANDING FEES. PART X, LINE 2: DTC IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS BEEN CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. 0 0 0 0 0 0 0 0 0 FORM 990, PART VII, SEC A, LINE 5 COMPENSATION PAID BY AN UNRELATED ORG: DOWNSTATE TECHNOLOGY CENTER IS AFFILIATED WITH DOWNSTATE HEALTH SCIENCES UNIVERSITY, WHICH PAYS EMPLOYEE SALARIES DIRECTLY THROUGH THEIR PAYROLL DEPARTMENT. THE COSTS FOR SALARY AND FRINGE BENEFITS ARE THEN CHARGED BACK TO DTC AS FOLLOWS: SAMUEL KIEL, PROGRAM DIRECTOR - TOTAL SALARY $145,462 FOR SERVICES TO DTCI. PENSION BENEFITS $14,773; OTHER NON-TAXABLE BENEFIT $13,329. BLAKE ADAIR-WHEELER, EXECUTIVE DIRECTOR - TOTAL SALARY $223,087 FOR SERVICES TO DTCI. OTHER NON-TAXABLE BENEFIT $3,818. 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. IN ADDITION, THE MEMBERS ELECT TWO TRUSTEES JOINTLY. THE TRUSTEES DIRECT THE MANAGEMENT AND OPERATION OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7B THE BYLAWS OF THE CORPORATION MAY ONLY BE AMENDED, REPEALED, ETC. UPON VOTE OF BOTH MEMBERS OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B 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 ELECTRONICALLY SENT TO THE AUDIT COMMITTEE AND 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 EACH TRUSTEE AND OFFICER OF DOWNSTATE TECHNOLOGY CENTER, INC. (DTC) HAS A FIDUCIARY OBLIGATION TO ACT IN THE BEST INTERESTS OF THE CORPORATION. THEY ARE REQUIRED TO COMPLETE AN ANNUAL DISCLOSURE STATEMENT TO DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. A TRUSTEE OR OFFICER MAY NOT PARTICIPATE IN ANY VOTE ON ANY MATTER RELATING TO CURRENT OR PROPOSED DTC BUSINESS WITH ANY INDIVIDUAL OR ENTITY WITH WHICH THE TRUSTEE/OFFICER HAS A DIRECT OR INDIRECT PERSONAL OR FINANCIAL INTEREST THAT MAY CONFLICT WITH THE PROPER DISCHARGE OF THE MEMBER'S BOARD DUTIES. AN INDIRECT PERSONAL OR FINANCIAL INTEREST INCLUDES ANY TRANSACTION WHEREBY FAMILY MEMBERS MAY ACQUIRE A FINANCIAL BENEFIT. RELATIONSHIPS WITH HSCB FOUNDATION, RESEARCH FOUNDATION AND DOWNSTATE HEALTH SCIENCES UNIVERSITY ARE EXCLUDED FROM THE REQUIRED DISCLOSURES. THE BOARD OF TRUSTEES WILL DETERMINE WHETHER THE FACTS, AS DISCLOSED BY THE TRUSTEE/OFFICER, CONSTITUTE A CONFLICT OF INTEREST. IF THE BOARD DETERMINES THAT A CONFLICT EXISTS, THE AFFECTED TRUSTEE/OFFICER SHALL ABSTAIN FROM VOTING ON THE MATTER. THE AFFECTED TRUSTEE/OFFICER MAY PARTICIPATE IN DISCUSSIONS ON THE MATTER IN QUESTION ONLY IF ASKED FOR INFORMATION BY A MAJORITY OF THE REMAINING BOARD MEMBERS. THE AFFECTED TRUSTEE /OFFICER MUST WITHDRAW FROM THE MEETING CONCERNING THE MATTER IN QUESTION IF REQUESTED BY THE REMAINING BOARD MEMBERS. IN THE EVENT THAT THE CONFLICT INVOLVES A VENDOR FOR GOODS OR SERVICES, THE AFFECTED TRUSTEE OR OFFICER SHALL NOT PARTICIPATE IN THE ADMINISTRATION OF THE TRANSACTION. THE MINUTES OF THE BOARD SHALL REFLECT THE ACTIONS OF THE BOARD OF TRUSTEES AND THE AFFECTED TRUSTEE OR OFFICER. SUCH MINUTES SHALL INCLUDE ALL DISCLOSURES OF ACTUAL AND POTENTIAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 DOWNSTATE TECHNOLOGY CENTER IS AFFILIATED WITH DOWNSTATE HEALTH SCIENCES UNIVERSITY, WHICH PAYS EMPLOYEE SALARIES DIRECTLY THROUGH THEIR PAYROLL DEPARTMENT. 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 SYSTEM HAS SPECIFIC GUIDELINES ON SALARY AND GRADE LEVEL BASED ON JOB RESPONSIBILITIES. BLAKE ADAIR-WHEELER IS PAID BY AN UNRELATED ORGANIZATION, THE STATE OF NEW YORK, FOR SERVICES PROVIDED TO DOWNSTATE TECHNOLOGY CENTER AS EXECUTIVE DIRECTOR. HE RECEIVES A W-2 FOR HIS SERVICES, AS WELL AS RETIREMENT CONTRIBUTIONS AND NONTAXABLE BENEFITS FROM THE UNRELATED ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 DOWNSTATE TECHNOLOGY CENTER, INC. 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)613-8449. 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.