2024-11-08T10:07:25-06:00 2024-06-30 113066459 CERINI & ASSOCIATES LLP 3340 VETERANS MEMORIAL HWY BOHEMIA NY 11716 990 2023-07-01 113059018 LONG ISLAND HIGH TECHNOLOGY INCUBATOR INC LONG 6314448800 25 HEALTH SCIENCES DRIVE STONY BROOK NY 11790 ANDREW WOOTEN EXECUTIVE DIRECTOR 6314448800 2024-11-08 1 0 MATTHEW BURKE P00760659 6315821600 2024-11-08 2023 2024-10-15 13:58:12Z ANDREW WOOTEN 25 HEALTH SCIENCES DRIVE STONY BROOK NY 11790 1840280 0 X WWW.LIHTI.ORG X 1989 NY SEE SCHEDULE O.THE LONG ISLAND HIGH TECHNOLOGY INCUBATOR (LIHTI) IS A NON-PROFIT ORGANIZATION THAT SUPPORTS AND STABILIZES EARLY-STAGE, HIGH-RISK, HIGH-TECH BUSINESSES. WE ARE DEDICATED TO HELPING NEW TECHNOLOGICALLY-INNOVATIVE COMPANIES GROW BY PROVIDING THEM WITH A VARIETY OF SUPPORT RESOURCES AND SERVICES. IN ADDITION TO ITS BEAUTIFUL SETTING, LIHTI'S LOCATION ON THE STONY BROOK UNIVERSITY CAMPUS ENABLES THE TRANSFER OF IDEAS FROM THE UNIVERSITY TO THE PRIVATE SECTOR. THE COMPANIES THAT DEVELOP AND GROW AS A RESULT OF BEING A PART OF THE INCUBATOR CREATE JOBS AND EXPAND THE TAX BASE ON LONG ISLAND AND IN NEW YORK STATE. 7 7 0 0 0 0 832006 16000 1833820 1824234 56 44 6456 2 2672338 1840280 139762 13462 0 0 812133 932365 0 0 0 1696268 1467531 2648163 2413358 24175 -573078 6097369 16794320 2531891 2359347 3565478 14434973 X SEE SCHEDULE O.THE LONG ISLAND HIGH TECHNOLOGY INCUBATOR (LIHTI) IS A NON-PROFIT ORGANIZATION THAT SUPPORTS AND STABILIZES EARLY-STAGE, HIGH-RISK, HIGH-TECH BUSINESSES. WE ARE DEDICATED TO HELPING NEW TECHNOLOGICALLY-INNOVATIVE COMPANIES GROW BY PROVIDING THEM WITH A VARIETY OF SUPPORT RESOURCES AND SERVICES. IN ADDITION TO ITS BEAUTIFUL SETTING, LIHTI'S LOCATION ON THE STONY BROOK UNIVERSITY CAMPUS ENABLES THE TRANSFER OF IDEAS FROM THE UNIVERSITY TO THE PRIVATE SECTOR. THE COMPANIES THAT DEVELOP AND GROW AS A RESULT OF BEING A PART OF THE INCUBATOR CREATE JOBS AND EXPAND THE TAX BASE ON LONG ISLAND AND IN NEW YORK STATE. 0 0 1441775 1817334 GENERAL INCUBATOR PROGRAM - THE UTILIZATION OF THE INCUBATOR FACILITIES IS INTRINSTIC TO THE ACCOMPLISHMENT OF THE ORGANIZATION'S EXEMPT PURPOSE OF ECONOMIC DEVELOPMENT OF LONG ISLAND AND THE STATE OF NEW YORK ECONOMY. APPROXIMATELY TWENTY-FIVE HIGH TECHNOLOGY BUSINESS ORGANIZATIONS ARE UNDER DEVELOPMENT IN THIS FACILITY. THE ORGANIZATION ENHANCES THE SUCCESS OF DEVELOPMENT COMPANIES BY PROVIDING SPACE AT A MUCH LOWER RATE AS COMPARED TO THE MARKET. 591091 13462 6900 CLEAN ENERGY BUSINESS INCUBATOR PROGRAM (CEBIP) - CEBIP SEEKS TO ADDRESS MANY KEY NEEDS OF AN EARLY-STAGE, ENERGY-BASED TECHNOLOGY BUSINESS. THIS IS PARTICULARLY CRITICAL IN TODAY'S RAPIDLY CHANGING MARKETPLACE. SUPPORTED BY THE NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY (NYSERDA), CEBIP PROVIDES ACCESS TO AN UNSURPASSED TEAM OF PARTNERS AND RESOURCES TO MAXIMIZE THE PROSPECTS FOR NEW BUSINESS VENTURES. CEBIP WILL CONTINUOUSLY WORK TOWARDS THE DEVELOPMENT OF A SUCCESSFUL CLEAN ENERGY ECONOMY ON LONG ISLAND, WITH THE ULTIMATE GOAL OF CREATING NEW JOBS AND MAKING A STRONG ECONOMIC IMPACT HERE IN NEW YORK. 46087 INNOVATION HOTSPOT PROGRAM - THE INNOVATION HOTSPOT PROGRAM IS A GRANT FROM EMPIRE STATE DEVELOPMENT'S DIVISION OF SCIENCE, TECHNOLOGY AND INNOVATION ("NYSTAR") TO LIHTI DESIGNATING IT AS ONE OF TEN INNOVATION HOTSPOTS ACROSS NEW YORK STATE. THE PURPOSE OF THE GRANT IS TO AID LIHTI TO REACH A GREATER NUMBER OF EARLY-STAGE COMPANIES. THE FINANCIAL SUPPORT MAY BE USED FOR PHYSICAL SPACE, SHARED ADMINISTRATIVE STAFF, ACCESS TO CAPITAL, COACHING, MENTORING, NETWORKING CONNECTIONS, PROTOTYPE DEVELOPMENT, AND ACCESS TO OTHER TECHNICAL SERVICES. INNOVATION HOTSPOTS ALSO OFFERS TAX BENEFITS TO PARTICIPATING COMPANIES. LIHTI IS SPECIFICALLY USING THE GRANT TO REIMBURSE QUALIFIED PROTOTYPING, INTELLECTUAL PROPERTY ("IP"), SMALL BUSINESS INNOVATION RESEARCH ("SBIR"), AND MARKETING EXPENSES FROM PARTICIPATING COMPANIES AND TO FINANCIALLY SUPPORT THE ADMINISTRATION OF THE GRANT AND DELIVERY OF MARKETING AND BUSINESS MENTORING STAFF SERVICES. IN ADDITION, LIHTI ENTERED A SUBCONTRACT WITH ACCELERATE LI TO RUN THE HOT SPOT PROGRAM THROUGH NYSTAR, BEGINNING 1/31/2023. LIHTI VALIDATES COMPANIES FOR ALI AND OFFERS MENTORING AND OTHER INCUBATION SERVICES. ALI IS RESPONSIBLE FOR ALL OF THE ADMINISTRATIVE WORK AND REPORTING TO NYSTAR. LIHTI SUBMITS TWO REPORTS A YEAR TO ALI WHICH COVERS $5,000/YR. OF SALARY/FRINGE AT LIHTI. 2078953 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 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 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X RYAN WELCH 6314448800 25 HEALTH SCIENCES DRIVE STONY BROOK NY 11790 X RYAN WELCH FACILITES AND OPS. MGR., SECRETARY 40.00 X X 0 0 0 SUSAN DIBBINS TREASURER 4.00 X X 0 0 0 DAVID MARCUS DIRECTOR 0.20 X 0 0 0 KACY BULLARD DIRECTOR 0.20 X 0 0 0 JON LONGTIN DIRECTOR (RESIGNED 12/23) 0.20 X 0 0 0 NICHOLAS QUERQUES DIRECTOR 0.20 X 0 0 0 LYLE GOMES DIRECTOR (RESIGNED 12/23) 0.20 X 0 0 0 ROBERT BRILL DIRECTOR (RESIGNED 9/23) 0.20 X 0 0 0 PAUL SHEIFFELE DIRECTOR 0.20 X 0 0 0 PETER DONNELLY CHAIR 1.00 X X 0 0 0 RICHARD REEDER EX-OFFICIO,VICE CHAIR(RESIGNED 7/23) 0.20 X X 0 0 0 ANIL DHUNDALE RESIGNED AS ED, BACK TO BOD 11/23 1.00 X X 0 0 0 MIGUEL GARCIA-DIAZ EX-OFFICIO, DIRECTOR (RESIGNED 5/24) 0.20 X 0 0 0 KEVIN GARDNER DIRECTOR 0.20 X 0 0 0 ANDREW L WOOTEN EXECUTIVE DIRECTOR 40.00 X 0 0 0 0 0 0 0 0 0 0 0 16000 16000 RENTAL INCOME AND SURC 531120 1817334 1817334 CEBIP SERVICES 531120 6900 6900 1824234 44 44 OTHER INCOME 900099 2 2 2 1840280 1824236 0 44 13462 13462 355111 191552 163559 318085 279293 38792 65966 45385 20581 146052 101259 44793 47151 31817 15334 5173 50 5123 69756 69756 43565 43304 261 16605 11788 4817 8834 7069 1765 2002 1863 139 3840 3763 77 416146 407823 8323 36872 36135 737 REPAIRS AND MAINTENANCE 396154 389050 7104 UTILITIES 313700 307426 6274 ADMINISTRATIVE 106304 91220 15084 BAD DEBT EXPENSE 40067 40067 8513 6871 1642 2413358 2078953 334405 0 54076 41872 106189 113085 2504610 13611995 219466 19448 12904 24930 13904395 10932988 3187025 2971407 13099 11583 6097369 16794320 343671 309945 1500000 1500000 507267 383959 180953 165443 2531891 2359347 X 3565478 2992400 0 11442573 3565478 14434973 6097369 16794320 -573078 -236678 11679251 0 X X 0 1 X 1 0 X 756071 431038 1036480 832006 16000 3071595 1705047 1735018 1815739 1833820 1824234 8913858 2461118 2166056 2852219 2665826 1840234 11985453 0 0 0 11985453 49 20 22 56 44 191 49 20 22 56 44 191 935 2305 44108 6456 2 53806 2462102 2168381 2896349 2672338 1840280 12039450 0.99550 0.99550 0.00000 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: AFFILIATE ID CARDS - 2019 AMOUNT: $ 935. 2020 AMOUNT: $ 2,305. 2021 AMOUNT: $ 2,100. IN-KIND CONTRIBUTIONS - 2021 AMOUNT: $ 36,583. SPONSORSHIPS - 2021 AMOUNT: $ 5,425. 2022 AMOUNT: $ 6,425. 2023 AMOUNT: $ 0. OTHER - 2022 AMOUNT: $ 31. 2023 AMOUNT: $ 2. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 70300 70300 11497338 9732590 1764748 2023889 1024584 999305 196203 90226 105977 116665 85588 31077 2971407 TENANT SECURITY DEPOSITS 165443 165443 X 2283602 443322 443322 1840280 0 1840280 3093358 680000 680000 2413358 0 2413358 PART X, LINE 2: LIHTI EVALUATED ITS ACTIVITIES FOR UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO UNCERTAIN TAX POSITIONS TAKEN DURING THE YEARS ENDED JUNE 30, 2024 AND 2023. 1 UNIQUE ELECTRIC SOLUTIONS INCORPORATED - CEBIP 34 EAST MAIN STREET SUITE 313 SMITHTOWN NY 11787 472945768 11000 0 SUPPORT THE COMPANY'S LASER WELDING MANUFACTURING PROJECT. 1 PART I, LINE 2: FOR CEBIP GRANTS, THERE IS A GRANT AGREEMENT WHERE PAYMENTS ARE MADE AFTER CONTRACT MILESTONES ARE ACHIEVED. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS TWO MEMBERS: STONY BROOK FOUNDATION, INC. AND THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK. FORM 990, PART VI, SECTION A, LINE 7A LIHTI'S MEMBERS MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT 990 IS PROVIDED TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS THE FORM AND ONCE SATISFIED WITH ITS CONTENTS, THE COMMITTEE APPROVES IT FOR FILING ON BEHALF OF THE BOARD. A COPY OF THE FORM IS THEN PROVIDED TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST DISCLOSURE IS SIGNED BY ALL DIRECTORS, OFFICERS, AND KEY EMPLOYEES ANNUALLY. THE AUDIT COMMITTEE REVIEWS ALL CONFLICT OF INTEREST DISCLOSURES ANNUALLY AND IMPLEMENTS CONFLICT OF INTEREST MANAGEMENT PLANS AS NECESSARY. FORM 990, PART VI, SECTION B, LINE 15A EXECUTIVE DIRECTOR AND TOP MANAGEMENT OFFICIAL COMPENSATION IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD, OR BOARD OF DIRECTORS AT LARGE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990 PART XI LINE 8 PRIOR PERIOD ADJUSTMENT NOTED ON FORM 990 PART XI LINE 8 IS A RECONCILING ITEM TO NET ASSETS. THE NATURE OF THIS ADJUSTMENT WAS AN INCREASE IN NET ASSETS WITH DONOR RESTRICTIONS OF $11,679,251 RESULTING FROM THE RECOGNITION OF IN-KIND RENT RECEIVABLE.