2024-05-10T10:42:56-05:00 2023-06-30 221478099 COHNREZNICK LLP 14 SYLVAN WAY PARSIPPANY NJ 070543801 990 2022-07-01 900348486 INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC INST 7277587687 912 DREW STREET SUITE 102 1052 CLEARWATER FL 33755 RAFAEL LOHNER EXECUTIVE DIRECTOR 7277587687 2024-05-09 1 RAFAEL LOHNER 999009999 1 LAURA KIELCZEWSKI P00740769 9732283500 2024-05-06 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z X RAFAEL LOHNER 912 DREW STREET SUITE 102 1052 CLEARWATER FL 33755 163151 0 X WWW.FLORIDA-INSTITUTE.COM X 2007 FL PROMOTING ECONOMIC DEVELOPMENT THROUGH THE COMMERCIALIZATION OF NEW DISCOVERIES. 3 3 2 35 0 0 0 500 342694 152049 0 0 0 10602 342694 163151 0 0 0 0 112994 140110 0 0 0 1614820 2778485 1727814 2918595 -1385120 -2755444 17091469 14290682 145048 99705 16946421 14190977 X THE INSTITUTE'S MISSION IS ECONOMIC DEVELOPMENT THROUGH THE COMMERCIALIZATION AND FUNDING OF NEW DISCOVERIES GENERATED FROM FLORIDA INNOVATION BUSINESSES. SUCCESS IS MEASURED BY THE NUMBER OF NEW VENTURES AND JOBS THAT ARE CREATED, AND THE AMOUNT OF CAPITAL COMPANIES RAISE. 0 0 2684556 162651 CONSISTENT WITH FLORIDA'S TARGETED INDUSTRY CLUSTER STRATEGY, THE INSTITUTE MATCHES COMMERCIALLY VIABLE TECHNOLOGIES WITH EXPERIENCED MANAGEMENT AND CAPITAL TO CREATE NEW STARTUP COMPANIES. THE INSTITUTE ALSO MANAGES SEED FUNDING PROGRAMS TO PROVIDE FUNDING TO QUALIFIED EARLY STAGE COMPANIES. RECIPIENTS MUST MATCH INSTITUTE FUNDING WITH PRIVATE INVESTMENT CAPITAL, AND FUNDED COMPANIES HAVE RAISED NEARLY $210 MILLION IN PRIVATE MATCHING FUNDS THIS YEAR. THE INSTITUTE'S FUNDS CONTINUE TO BE MANAGED BY THE SAME PRIVATE FUND MANAGER AS LAST FISCAL YEAR, COMPLETING 2 FUNDING TRANSACTIONS. INSTITUTE COMPANIES GENERATED OVER $55 MILLION IN REVENUES. 2684556 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 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 1 0 0 0 0 1 4 0 1 2 1 0 1 SW 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 FL X X RAFAEL LOHNER 7277587687 912 DREW STREET SUITE 102 1052 CLEARWATER FL 33755 JIM O'CONNELL BOARD MEMBER 1.00 X 0 0 0 RENEE FINLEY CHAIRMAN 1.00 X X 0 0 0 SHERRICK RICK WASSEL VICE CHAIRMAN 1.00 X X 0 0 0 LYNN MATTICE TREASURER 10.00 X 0 0 0 RAFAEL LOHNER EXECUTIVE DIRECTOR 40.00 X 90000 0 0 90000 0 0 0 0 0 0 0 500 500 SCAP LOAN INTEREST INC 522291 147608 147608 PROGRAM RELATED INVEST 541990 4441 4441 152049 INCOME ON BAD DEBT 900099 10602 10602 10602 163151 162651 0 0 90000 72000 18000 39633 31706 7927 10477 8382 2095 12000 9871 2129 21030 17298 3732 57097 46965 10132 321369 264344 57025 13860 693 13167 2817 2316 501 7500 6750 750 7120 5696 1424 4764 3811 953 23637 23637 BAD DEBT 2201861 2201861 GOVERNMENT RELATIONS 91337 91337 UNOBLIGATED SEED FUNDS 8000 8000 DUES & SUBSCRIPTION 6093 4863 1230 2918595 2684556 234039 0 1515996 762821 33744 16191 12750 12750 0 0 15541149 13511090 580 580 17091469 14290682 145048 99705 145048 99705 X -157798 14190977 17104219 0 16946421 14190977 17091469 14290682 -2755444 0 X 0 1 X 1 0 X 14500 1000 500 16000 14500 1000 500 16000 16000 10602 10602 26602 2490941 0.60150 1.00000 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INCOME ON BAD DEBT - 2022 AMOUNT: $ 10,602. 91337 91337 2827258 2918595 295930 73983 0 0 236391 295930 532321 798482 61952 91337 153289 59098 73983 133081 199622 FORM 990, SCHEDULE C, PART II-A, LINE 1B THE INSTITUTE ADVOCATES FOR ITS INVOLVEMENT WITH THE ADMINISTRATION OF THE FLORIDA EQUITY CAPITAL PROGRAM, WHICH MAY BE A COMPONENT OF SSBCI 2.0, THROUGH THE USE OF PAID CONSULTANTS AND VOLUNTEERS. SPECIFICALLY, CAPITAL CITY CONSULTING, LLC, HAS AN ACTIVE CONTRACT WITH THE INSTITUTE TO LOBBY ON BEHALF OF THE INSTITUTE BEFORE THE DEPARTMENT OF ECONOMIC OPPORTUNITY AND THE EXECUTIVE OFFICE OF THE GOVERNOR, THE LEGISLATURE, AND PUBLIC UNIVERSITIES TO ADVANCE THE INSTITUTE'S MISSION OF SUPPORTING INNOVATION OF FLORIDA COMPANIES AND TO EXPAND ITS PORTFOLIO OF SERVICES TO INCLUDE ADDITIONAL INVESTMENT OVERSIGHT ROLES WITH BOTH PUBLIC AND PRIVATE ENTITIES. 1966 1966 0 10784 10784 0 0 SEED FUNDING LOANS RECEIVABLE LESS ALLOWANCE 1173868 C SEED FUNDING LOANS INTEREST RECEIVABLE 916113 C EQUITY INVESTMENTS 11421109 C 13511090 X 163151 0 163151 0 163151 2918595 0 2918595 0 2918595 PART X, LINE 2: THE INSTITUTE IS A NONPROFIT CORPORATION WHICH IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC") AND, ACCORDINGLY, GENERALLY WOULD NOT INCUR INCOME TAXES. THE FUND IS A SINGLE-MEMBER LIMITED LIABILITY COMPANY, AND ITS RESULTS ARE INCLUDED IN THE INSTITUTE'S TAX FILINGS. AS A RESULT, THE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES. THE ORGANIZATION IDENTIFIES AND EVALUATES UNCERTAIN TAX POSITIONS, IF ANY, AND RECOGNIZES THE IMPACT OF UNCERTAIN TAX POSITIONS FOR WHICH THERE IS A LESS THAN MORE LIKELY THAN NOT PROBABILITY OF THE POSITION BEING UPHELD WHEN REVIEWED BY THE RELEVANT TAXING AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION'S TAX YEARS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE GENERALLY REMAIN OPEN FOR THREE YEARS FROM THE DATE OF FILING. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY NOW APPOINTS NEW MEMBERS AS VACANCIES ARISE. FORM 990, PART VI, SECTION B, LINE 11B THE SECRETARY REVIEWS THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C BOARD OF DIRECTORS AND COMMITTEE MEMBERS MUST ADVISE THE BOARD OF ANY DIRECT AND INDIRECT INTEREST IN ANY TRANSACTION OR RELATIONSHIP WITH THE ORGANIZATION AND NOT PARTICIPATE IN DISCUSSIONS AND DECISIONS REGARDING ANY ACTION AFFECTING THEIR INDIVIDUAL, PROFESSIONAL, OR BUSINESS INTERESTS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED ANNUALLY AND ESTABLISHED BY THE INSTITUTE'S BOARD OF DIRECTORS OR THE INSTITUTE'S EXECUTIVE COMMITTEE USING COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE FORM 990 IS ALSO AVAILABLE ON WWW.GUIDESTAR.ORG. FLORIDA TECHNOLOGY SEED CAPITAL FUND LLC 912 DREW STREET SUITE 102 1052 CLEARWATER FL 33755 463686978 INVESTMENT FUNDING IN INNOVATION BUSINESSES FL 105260 12929675 INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC