2026-05-13T16:49:20-05:00 2025-06-30 135565207 KPMG LLP 515 BROADWAY 4TH FLOOR ALBANY NY 122072974 990 2024-07-01 844046818 NEW YORK CENTER FOR RESEARCH ECONOMIC ADVANCEMENT TECHNOLOGY ENGINEERINGAND NEWY 5189567322 257 FULLER RD ALBANY NY 12203 TIMOTHY TAYLOR CFO 5189567322 2026-05-13 1 0 STEPHANIE LONCZAK P01880207 5184274600 2026-05-07 2024 2025-03-06 01:10:19Z NY CREATES DAVID ANDERSON 257 FULLER RD ALBANY NY 12203 144833186 0 X NY-CREATES.ORG X 2018 NY THE NEW YORK CENTER FOR RESEARCH, ECONOMIC ADVANCEMENT, TECHNOLOGY, ENGINEERING AND SCIENCE CORPORATION (NY CREATES) WAS FORMED FOR THE PURPOSE OF ADVANCING SCIENTIFIC RESEARCH, EDUCATION AND ECONOMIC DEVELOPMENT WITHIN NEW YORK STATE. SPECIFICALLY, THE PURPOSE OF NY CREATES IS TO FACILITATE THE ATTRACTION AND EXPANSION OF INNOVATIVE RESEARCH AND DEVELOPMENT PROJECTS AND FACILITIES, AND TO DEVELOP STRATEGIC ASSETS THAT SUPPORT THE GROWTH OF HIGH TECHNOLOGY COMPANIES THROUGHOUT THE STATE IN COOPERATION WITH THE STATE UNIVERSITY OF NEW YORK (SUNY) AND THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION D/B/A/ EMPIRE STATE DEVELOPMENT (ESD). 10 10 0 10 0 0 32153072 131975980 0 0 0 399 10956241 12829709 43109313 144806088 21767 453893 0 0 0 0 0 0 0 59149853 240256369 59171620 240710262 -16062307 -95904174 49097189 185329930 57664585 289801500 -8567396 -104471570 X THE NEW YORK CENTER FOR RESEARCH, ECONOMIC ADVANCEMENT, TECHNOLOGY, ENGINEERING AND SCIENCE CORPORATION (NY CREATES) FORMED FOR THE PURPOSE OF ADVANCING SCIENTIFIC RESEARCH, EDUCATION AND ECONOMIC DEVELOPMENT WITHIN NEW YORK STATE. SPECIFICALLY, THE PURPOSE OF NY CREATES IS TO FACILITATE THE ATTRACTION AND EXPANSION OF INNOVATIVE RESEARCH AND DEVELOPMENT PROJECTS AND FACILITIES, AND TO DEVELOP STRATEGIC ASSETS THAT SUPPORT THE GROWTH OF HIGH TECHNOLOGY COMPANIES THROUGHOUT THE STATE IN COOPERATION WITH THE STATE UNIVERSITY OF NEW YORK (SUNY) AND THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION D/B/A/ EMPIRE STATE DEVELOPMENT (ESD). 0 0 240710262 453893 12832247 NY CREATES RECEIVED A PAYMENT IN THE AMOUNT OF $10,800,000 FROM FULLER ROAD MANAGEMENT CORPORATION ALONG WITH A GRANT FROM EMPIRE STATE DEVELOPMENT CORPORATION IN THE AMOUNT OF $131,859,864. THE GRANT FUNDS WERE THEN PAID TO ITS RELATED ORGANIZATION TO BUILD A FACILITY IN CONNECTION WITH NY CREATES' MISSION OF SUPPORTING INNOVATIVE RESEARCH AND DEVELOPMENT IN THE STATE. 240710262 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 9 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X TIMOTHY TAYLOR 5189567417 257 FULLER ROAD ALBANY NY 12203 JASMINKA HUSIC DIRECTOR, AS OF 6/12/25 0.50 1.00 X 0 0 0 HEATHER HAGE DIRECTOR 0.50 1.00 X 0 0 0 TERRENCE DALY DIRECTOR, AS OF 4/7/25 0.50 1.00 X 0 0 0 DR ANDREA GOLDSMITH DIRECTOR, AS OF 6/12/25 0.50 1.00 X 0 0 0 JOAN MCDONALD DIRECTOR 0.50 1.00 X 0 0 0 MICHAEL CADIGAN DIRECTOR, AS OF 6/13/25 0.50 1.00 X 0 0 0 KRISTIN PROUD DIRECTOR 0.50 1.00 X 0 0 0 MENG-LING HSIAO DIRECTOR 0.50 1.00 X 0 0 0 MICHAEL ABBOTT DIRECTOR 0.50 1.00 X 0 0 0 DOUGLAS GROSE CHAIR 0.50 1.00 X 72692 0 0 DAVID ANDERSON PRESIDENT 1.00 19.00 X 423795 0 54493 PATRICIA BUCKLIN SECRETARY 1.00 39.00 X 187984 0 19325 PAUL KELLY VP STRATEGY, PSHIPS & NV, & COO 1.00 7.00 X 283236 0 44969 SCOTT BATEMAN TREASURER 0.50 1.00 X 0 0 0 TIMOTHY TAYLOR VP CORPORATE FINANCE & CFO 1.00 24.00 X 246552 0 129144 REBECCA BORDEN GENERAL COUNSEL 1.00 31.00 X 209772 0 34081 WILLIAM BRONNER VP OF HUMAN RESOURCES 1.00 24.00 X 230164 0 58875 CHRISTOPHER BORST VP OF TECHNOLOGY & INFRASTRUCTURE 1.00 24.00 X 268685 0 140737 MAURICE RAGHUBAR VP OF IT & CHIEF INFORMATION OFFICER 1.00 15.00 X 240772 0 12203 PATRICIA ARCIERO-CRAIG PAST CAO,ACT GEN COUN 0.00 0.00 X 456367 0 23457 2620019 0 517284 9 1 1 1 HARRIS BEACH PLLC 677 BROADWAY ALBANY NY 12207 LEGAL 183963 1 116116 131859864 131975980 399 399 24560 116116 27098 -2538 -2538 PAYMENT FROM FRMC 900099 10800000 10800000 MISCELLANEOUS REVENUE 900099 2032247 2032247 12832247 144806088 12832247 0 -2139 453893 453893 101148 101148 13000 13000 151318 151318 1918335 1918335 250780 250780 82391 82391 1107489 1107489 188097 188097 233628099 233628099 239828 239828 26975 26975 PAYMENT TO THE RF 2000000 2000000 SUBSCRIPTIONS 281388 281388 CONSULTANTS 245820 245820 REPAIRS AND MAINTENANCE 21651 21651 50 50 240710262 240710262 0 0 6416171 6551577 0 0 0 0 115306 347043 0 0 0 0 0 0 0 0 99000 2033472 251895 645169 1781577 0 0 0 0 0 0 0 0 41821543 176649733 49097189 185329930 16790307 112456573 0 0 40874278 177344927 0 0 0 0 0 0 0 0 0 0 57664585 289801500 X -45693118 -273457156 37125722 168985586 -8567396 -104471570 49097189 185329930 -95904174 0 X 0 1 X 1 0 X 5000000 32170992 131975980 169146972 5000000 32170992 131975980 169146972 169146972 399 399 4450000 6615819 12502814 10961824 12832247 47362704 216510075 0.78120 0.51840 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PAYMENT FROM FRMC - 2020 AMOUNT: $ 4,450,000. 2021 AMOUNT: $ 6,615,819. 2022 AMOUNT: $ 12,502,814. 2023 AMOUNT: $ 10,115,909. 2024 AMOUNT: $ 10,800,000. MISCELLANEOUS REVENUE - 2023 AMOUNT: $ 845,915. 2024 AMOUNT: $ 2,032,247. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 0 0 0 0 1 151318 151318 0 PART II-B, LINE 1: THE CORPORATION ENGAGED A LOBBYING AND MARKETING FIRM TO DEVELOP A MULTI-YEAR TECHNOLOGY PROGRAM TO SUPPORT MICROELECTRONICS INNOVATION. THE FIRM ALSO ASSISTED WITH LOBBYING CONGRESS FOR FUNDING AND PROGRAM INCREASES, ALONG WITH PURSUING FEDERAL FUNDING OPPORTUNITIES ACROSS FEDERAL AGENCIES AND CREATING HELPFUL INCENTIVES TO PRODUCE SEMICONDUCTORS ("CHIPS") AND SCIENCE ACT. FEDERAL FUNDING/LOAN OPPORTUNITIES HAVE ALSO BEEN PURSUED BY THE CORPORATION WITHOUT THE ASSISTANCE OF THE LOBBYING FIRM OR WITHOUT THE INVOLVEMENT OF ANY OTHER LOBBYING ACTIVITIES. 2033472 251895 1781577 1781577 ASSETS LIMITED TO USE 176154246 DUE FROM MEMBER 495487 176649733 X PART X, LINE 2: THE CORPORATION APPLIES THE PROVISIONS OF ASC 740-10, ACCOUNTING FOR UNCERTAINTY OF INCOME TAXES, WHICH ADDRESSES ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN AN ENTITY'S CONSOLIDATED FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF MORE-LIKELY THAN-NOT FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. ASC 740-10 ALSO PROVIDES GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURES OF TAX UNCERTAINTIES. MANAGEMENT HAS EVALUATED ASC 740-10 AND CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT IMPACT THE CORPORATION'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2025 AND 2024. GOLF OUTING 140676 116116 24560 4000 22098 1000 140676 116116 24560 4000 22098 1000 27098 -2538 1 HUDSON VALLEY COMMUNITY COLLEGE FOUNDATION 80 VANDENBURGH AVE TROY NY 12180 222427015 501C3 120560 0 GENERAL NY DESIGN INC 33 BROADWAY SUITE 476 TROY NY 12180 871183988 501C3 333333 0 GENERAL 2 0 PART I, LINE 2: THE CORPORATION PROVIDED A GRANT IN FYE JUNE 30, 2025 TO HVCC FOUNDATION WITH THE FUNDS RESTRICTED TO ITS APPLIED TECHNOLOGY EDUCATION CENTER ("ATEC"). A MEMBER DELEGATED BY AN OFFICER OF THE CORPORATION, IS ON THE GRANTEE'S STEERING COMMITTEE, WHICH MONITORS THE USE OF THESE GRANT FUNDS AND HELPS WITH THE DIRECTION OF THE ATEC FACILITY. THE CORPORATION PROVIDED A GRANT IN FYE JUNE 30, 2025 TO NY DESIGN TO SUPPORT WORKFORCE DEVELOPMENT INITIATIVES TO AID THE SEMICONDUCTOR INDUSTRY NATIONALLY. ON A MONTHLY BASIS, NY DESIGN SENDS A MILESTONE PROGRESS REPORT WHICH IS REVIEWED AND APPROVED. X 1 0 0 0 0 0 0 1 0 PATRICIA ARCIERO-CRAIG PAST CAO,ACT GEN COUN 117098 0 0 0 339269 0 7094 0 16363 0 479824 0 0 0 DAVID ANDERSON PRESIDENT 423795 0 0 0 0 0 24152 0 30341 0 478288 0 0 0 CHRISTOPHER BORST VP OF TECHNOLOGY & INFRASTRUCTURE 268685 0 0 0 0 0 29582 0 111155 0 409422 0 0 0 TIMOTHY TAYLOR VP CORPORATE FINANCE & CFO 246552 0 0 0 0 0 27145 0 101999 0 375696 0 0 0 PAUL KELLY VP STRATEGY, PSHIPS & NV, & COO 273236 0 10000 0 0 0 16899 0 28070 0 328205 0 0 0 WILLIAM BRONNER VP OF HUMAN RESOURCES 230164 0 0 0 0 0 24128 0 34747 0 289039 0 0 0 MAURICE RAGHUBAR VP OF IT & CHIEF INFORMATION OFFICER 240772 0 0 0 0 0 11045 0 1158 0 252975 0 0 0 REBECCA BORDEN GENERAL COUNSEL 199772 0 10000 0 0 0 4480 0 29601 0 243853 0 0 0 PATRICIA BUCKLIN SECRETARY 185484 0 2500 0 0 0 18803 0 522 0 207309 0 0 0 PART I, LINE 4A DURING THE CALENDAR YEAR 2024, THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK (THE "RESEARCH FOUNDATION") ENTERED INTO A SEPARATION AGREEMENT AND GENERAL RELEASE WITH PATRICIA ARCIERO-CRAIG FOLLOWING HER DEPARTURE IN CONNECTION WITH EMPLOYMENT THROUGH THE RESEARCH FOUNDATION AS VICE PRESIDENT OF POLICY, ACTING GENERAL COUNSEL AND CHIEF ADMINISTRATIVE OFFICER OF THE NEW YORK CENTER FOR RESEARCH, ECONOMIC ADVANCEMENT, TECHNOLOGY, ENGINEERING AND SCIENCE CORP. ("NYCREATES"), FULLER ROAD MANAGEMENT CORPORATION ("FRMC") AND FORT SCHUYLER MANAGEMENT CORPORATION ("FSMC"). THE SEVERANCE PAYMENT REPORTED IS REPORTED IN SCHEDULE J, PART II, COLUMN(B)(III). PART I, LINE 7 THE BONUSES ARE ALL IN RECOGNITION OF THE EFFORTS OF THE INDIVIDUAL EMPLOYEES ABOVE AND BEYOND THEIR NORMAL DUTIES. PART II - COMPENSATION FROM UNRELATED ORGANIZATIONS COMPENSATION FOR TIMOTHY TAYLOR AND CHRISTOPHER BORST, WAS PAID BY THE STATE UNIVERSITY OF NEW YORK, AN UNRELATED ENTITY. COMPENSATION FOR THE OTHER PEOPLE LISTED WAS PAID BY THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK, ANOTHER UNRELATED ENTITY, AND WAS WHOLLY OR PARTIALLY REIMBURSED BY THE CORPORATION. THE COMPENSATION REPORTED ON SCHEDULE J PART II IS THE FULL COMPENSATION PAID TO EACH INDIVIDUAL. THE HOURS LISTED ON PART VII AS BEING DEVOTED TO THE ORGANIZATION AND RELATED ORGANIZATIONS, MAY BE LESS THAN 40 HOURS, AS ONLY A PORTION OF THEIR TIME WAS SPENT WORKING FOR THE REPORTING ORGANIZATION AND ITS RELATED ORGANIZATIONS, AS REPORTED ON SCHEDULE R. FORM 990, PART I, LINE 5 & PART V, LINE 2A - NUMBER OF EMPLOYEES COMPENSATION FOR DOUGLAS GROSE WAS PAID BY NY CREATES AS AN INDEPENDENT CONTRACTOR. DOUGLAS GROSE'S COMPENSATION REPORTED WAS FOR JANUARY UNTIL MAY 2024 PRIOR TO HIM BECOMING CHAIRMAN OF THE BOARD IN APRIL 2024. THE REMAINING NINE INDIVIDUALS INCLUDED IN FORM 990 PART VII LINE 1A WERE PAID BY UNRELATED ORGANIZATIONS. THEREFORE NO EMPLOYEES ARE REPORTED ON FORM 990 PART I, LINE 5 OR PART V, LINE 2A. FORM 990, BOX C THE NAME OF THE ORGANIZATION WAS TRUNCATED ON FORM 990, BOX C DUE TO CHARACTER LIMITATIONS IN THIS FIELD. THE COMPLETE NAME OF THE ORGANIZATION IS: NEW YORK CENTER FOR RESEARCH, ECONOMIC ADVANCEMENT, TECHNOLOGY, ENGINEERING AND SCIENCE CORPORATION. FORM 990, PART VI, SECTION A, LINE 6 THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK (THE RESEARCH FOUNDATION) AND SUNY POLYTECHNIC FOUNDATION, INC (SPF) ARE THE MEMBERS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK (THE RESEARCH FOUNDATION) AND SUNY POLYTECHNIC FOUNDATION, INC (SPF) ARE THE MEMBERS OF THE CORPORATION. FOUR DIRECTORS ARE APPOINTED BY SPF, ONE OF WHOM SHALL BE APPOINTED UPON THE RECOMMENDATION OF THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION D/B/A EMPIRE STATE DEVELOPMENT (ESD) AND ONE OF WHOM SHALL BE APPOINTED UPON THE RECOMMENDATION OF THE STATE UNIVERSITY OF NEW YORK ("SUNY"); FOUR DIRECTORS ARE APPOINTED BY THE RESEARCH FOUNDATION, ONE OF WHOM SHALL BE APPOINTED UPON THE RECOMMENDATION OF ESD AND ONE OF WHOM SHALL BE APPOINTED UPON THE RECOMMENDATION OF SUNY; AND THREE DIRECTORS FROM THE PUBLIC AT LARGE OF WHOM SHALL BE ELECTED UPON THE UNANIMOUS CONSENT OF THE MEMBERS AND WITH THE CONSENT OF ESD. IN ADDITION, ESD'S PRESIDENT AND CEO, OR HIS/HER DESIGNEE, AND THE CHANCELLOR OF SUNY, OR HIS/HER DESIGNEE SERVE AS NON-VOTING, NON-FIDUCIARY ADVISORY REPRESENTATIVES TO THE BOARD. THE MEMBERS WITH THE ABILITY TO APPOINT BOARD DIRECTORS, HAVE NO POWER TO CONTROL THE BOARD'S DECISIONS. FORM 990, PART VI, SECTION A, LINE 7B THE BY-LAWS AND THE CERTIFICATE OF INCORPORATION MAY BE ADDED TO, AMENDED, REPEALED OR REPLACED ONLY BY THE AGREEMENT OF THE CORPORATION'S MEMBERS. IN ADDITION, UNDER THE BYLAWS, THE FOLLOWING ITEMS MUST BE APPROVED FIRST BY A MAJORITY VOTE OF THE CORPORATION'S BOARD OF DIRECTORS AND THEN SUBMITTED TO THE MEMBERS FOR APPROVAL: (I) AMENDMENT TO THE CORPORATION'S CETIFICATE OF INCORPORATION; (II) APPROVAL OF A PLAN OF MERGER OR CONSOLIDATION OF THE CORPORATION; (III) APPROVAL OF A PLAN OF DISSOLUTION OF THE CORPORATION; (IV) APPROVAL OF A RECOMMENDATION FOR THE SALE OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION, (IV) ADMISSION OF ADDITIONAL MEMBERS INTO THE CORPORATION, AND (IV) ANY CHANGE TO THE MISSION OR PURPOSE OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE CORPORATION'S FORM 990 IS PREPARED INTERNALLY UNDER THE REVIEW OF THE PRESIDENT, TREASURER AND CFO. IT IS REVIEWED BY THE CORPORATION'S EXTERNAL AUDITORS. THE COMPLETED FORM IS DISTRIBUTED TO THE AUDIT COMMITTEE AND REVIEWED WITH MANAGEMENT AND THE EXTERNAL AUDITORS. AFTER THE AUDIT COMMITTEE REVIEWS, THE FINAL FORM 990 AND ALL REQUIRED SCHEDULES IS DISTRIBUTED TO EACH VOTING BOARD DIRECTOR AND IS APPROVED BY THE BOARD OF DIRECTORS PRIOR TO FILING THE FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C UNDER THE CONFLICT OF INTEREST AND RELATED PARTY TRANSACTION POLICY, DIRECTORS, OFFICERS, AND KEY EMPLOYEES MUST DISCLOSE IN GOOD FAITH AND IN WRITING ALL MATERIAL FACTS RELATED TO CONFLICTS OF INTEREST TO THE GENERAL COUNSEL AND/OR ETHICS OFFICER, WHO WILL ADVISE HOW TO PROCEED. THE DISCLOSURE MUST BE MADE PART OF THE CORPORATION'S OFFICIAL RECORDS, INCLUDING IN THE MINUTES OF ANY MEETING AT WHICH THE CONFLICT ISSUE IS DISCUSSED OR VOTED ON. THE POLICY ALSO CONTAINS PROVISIONS FOR RECUSAL AND ABSTENTION. QUESTIONNAIRES ARE SUBMITTED ANNUALLY TO DIRECTORS, OFFICERS, AND KEY EMPLOYEES TO DETERMINE WHETHER ANY CONFLICTS OF INTEREST OR RELATED PARTY TRANSACTIONS EXIST. FORM 990, PART VI, SECTION B, LINE 15 FOR SUCH INDIVIDUALS WHOSE COMPENSATION WAS WHOLLY OR PARTIALLY REIMBURSED BY THE CORPORATION OR RELATED ORGANIZATIONS, THE AUDIT COMMITTEE, WHICH WAS COMPOSED OF INDEPENDENT MEMBERS, CONSIDERED COMPARABLE SALARY INFORMATION AND DOCUMENTED ITS DECISION CONTEMPORANEOUSLY. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE POSTED ON THE CORPORATION'S WEBSITE AND ARE AVAILABLE TO THE PUBLIC, UPON REQUEST, AT THE CORPORATION'S BUSINESS OFFICE. FULLER ROAD MANAGEMENT CORPORATION 257 FULLER ROAD ALBANY NY 12207 141772760 RE HOLDING NY 501(C)(25) NY CREATES 1 FORT SCHUYLER MANAGEMENT CORPORATION 257 FULLER ROAD ALBANY NY 12207 271459023 SUP SUNY POLY NY 501(C)(3) LINE 10 NY CREATES 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 FORT SCHUYLER MANAGEMENT CORPORATION R 4500000 ACTUAL PAYMENTS FULLER ROAD MANAGEMENT CORPORATION S 10800000 ACTUAL PAYMENTS FULLER ROAD MANAGEMENT CORPORATION R 229128099 ACTUAL PAYMENTS