2024-11-15T09:40:23-05:00 2023-12-31 521753100 RYAN & WETMORE PC 3 BETHESDA METRO CENTER RD STE 320 BETHESDA MD 20814 990 2023-01-01 383903952 THE CENTER FOR ADVANCING INNOVATION CENT 2024382208 9508 BURNING TREE RD BETHESDA MD 20817 ROSEMARIE TRUMAN CEO 2024382208 2024-11-13 true true PETER T RYAN CPA P00347443 3015850506 2024-11-13 2023 2024-10-15 13:58:12Z ROSEMARIE TRUMAN 9508 BURNING TREE ROAD BETHESDA MD 20817 309563 false X WWW.THECENTERFORADVANCINGINNOVATION.OR X 2012 MD THE CENTER FOR ADVANCING INNOVATION (CAI) IS A GLOBAL PUBLIC-PRIVATE PARTNERSHIP NON-PROFIT FOCUSED ON CREATING A VIRTUOUS CIRCLE OF INNOVATION AND DRIVING GROWTH BREAKTHROUGHS THROUGH NOVEL, CREATIVE PARADIGMS AND MODELS. CAI'S MISSION IS TO ACCELERATE AND INCREASE THE VOLUME OF RESEARCH COMMERCIALIZATION IN SUPPORT OF HIGH GROWTH BUSINESS IN ORDER TO IGNITE ENTREPRENEURSHIP, BOLSTER THE GLOBAL ECONOMY AND MAXIMIZE THE COMMERCIAL AND KNOWLEDGE-BASED POTENTIAL OF PROMISING INVENTIONS. CAI'S AWARD-WINNING CHALLENGE-BASED ACCELERATOR, RIGOROUS FACT-BASED DUE DILIGENCE AND CAPITAL EFFICIENT LEAN MANAGEMENT MODELS SERVE TO HYPER-ACCELERATE "GAZELLE" HIGH- PERFORMING STARTUPS FOR OUTSIZED INVESTOR RETURNS. FOR MORE INFORMATION ABOUT CAI, PLEASE VISIT HTTP://WWW.THECENTERFORADVANCINGINNOVATION.ORG. 4 3 6 0 276974 0 300000 265424 18461 44139 42000 0 637435 309563 20000 0 0 563367 606149 0 0 263657 146202 847024 752351 -209589 -442788 1628888 1167399 31878 13177 1597010 1154222 X THE CENTER FOR ADVANCING INNOVATION (CAI) IS A GLOBAL PUBLIC-PRIVATE PARTNERSHIP NON-PROFIT FOCUSED ON CREATING A VIRTUOUS CIRCLE OF INNOVATION AND DRIVING GROWTH BREAKTHROUGHS THROUGH NOVEL, CREATIVE PARADIGMS AND MODELS. CAI'S MISSION IS TO ACCELERATE AND INCREASE THE VOLUME OF RESEARCH COMMERCIALIZATION IN SUPPORT OF HIGH GROWTH BUSINESS IN ORDER TO IGNITE ENTREPRENEURSHIP, BOLSTER THE GLOBAL ECONOMY AND MAXIMIZE THE COMMERCIAL AND KNOWLEDGE-BASED POTENTIAL OF PROMISING INVENTIONS. CAI'S AWARD-WINNING CHALLENGE-BASED ACCELERATOR, RIGOROUS FACT-BASED DUE DILIGENCE AND CAPITAL EFFICIENT LEAN MANAGEMENT MODELS SERVE TO HYPER-ACCELERATE "GAZELLE" HIGH- PERFORMING STARTUPS FOR OUTSIZED INVESTOR RETURNS. FOR MORE INFORMATION ABOUT CAI, PLEASE VISIT HTTP://WWW.THECENTERFORADVANCINGINNOVATION.ORG. false false 648810 265424 THE GLOBAL HEALTH INNOVATION CHALLENGE (GHIC) IS ORCHESTRATED BY THE CENTER FOR ADVANCING INNOVATION (CAI) WITH SUPPORT FROM RESONANCE PHILANTHROPIES OF HTE SILCION VALLEY COMMUNITY FOUNDATION AND THE UNITED SATES ECONOMIC DEVELOPMENT ADMINISTRATION (EDA) BUILD TO SCALE (B2S) PROGRAM. AS WITH CAI'S PRIOR CHALLENGES, TEAMS WILL ADVANCE PROMISING DE-RISKED INVENTIONS SELECTED WITH RIGOROUS DUE DILIGENCE BY POTENTIAL INVESTORS AND INDUSTRY EXPERTS. TEAMS MAY ALSO ENTER WITH THEIR OWN COMMERCIALLY VIALABLE IMPROVE CHILDREN'S MENTAL HEALTH AND PANDEMIC RESILIENCY, AN EXPERT JUDGING PANEL WILL SELECT A TOTAL OF 15+ WINNERS FROM THE POOL OF TEAMS, ADVANCING PROMISING INVENTIONS. 648810 true false false false false false false false false false true false false false false false false false false false false false false false false false false false false true false false false true false false false false false false false false false false false false false true 0 0 6 true false false false false false false false false false false false false X 4 3 false false false false false false false true true false false false true true true true true true false false MD X ROSEMARIE TRUMAN 2024382208 9508 BURNING TREE ROAD BETHESDA MD 20817 ROSEMARIE TRUMAN CEO 40.00 X X 366000 0 0 NICK DONOFRIO CHAIRMAN X 0 0 0 GIL PRICE DIRECTOR X 0 0 0 REGINALD SEETO DIRECTOR X 0 0 0 366000 1 false true false GRANTS 541900 265424 265424 265424 44139 44139 309563 265424 44139 366000 311100 54900 208268 177028 31240 31881 27099 4782 1075 1075 191 191 2391 2391 4054 4054 15847 15847 572 572 3945 3945 SUPPLIES 41158 33750 7408 OUTSIDE SERVICES 16333 16333 OFFICE EXPENSE 11827 11827 COMPUTER 8881 8881 39928 39928 752351 648810 103541 0 1145503 1065971 6720 5294 1997 1426 481388 100002 1628888 1167399 16660 13053 15218 124 31878 13177 X 1597010 1154222 1597010 1154222 1628888 1167399 -442788 X X false false false X 973500 43093 276974 1293567 1851782 1273833 277074 342000 265424 4010113 1851782 2247333 320167 618974 265424 5303680 1814541 1814541 1814541 1814541 3489139 10065 6052 281 18461 44139 78998 10065 6052 281 18461 44139 78998 1861847 2253385 320448 637435 309563 5382678 0.64820 0.56420 0.01000 0.01000 X 6720 5294 1426 1426 X false false false false false false false false false ROSEMARIE TRUMAN CEO 366000 366000 ROSEMARIE TRUMAN CEO X 124 false false false 124 FORM 990 - ORGANIZATION'S MISSION THE CENTER FOR ADVANCING INNOVATION (CAI) IS A GLOBAL PUBLIC-PRIVATE PARTNERSHIP NON-PROFIT FOCUSED ON CREATING A VIRTUOUS CIRCLE OF INNOVATION AND DRIVING GROWTH BREAKTHROUGHS THROUGH NOVEL, CREATIVE PARADIGMS AND MODELS. CAI'S MISSION IS TO ACCELERATE AND INCREASE THE VOLUME OF RESEARCH COMMERCIALIZATION IN SUPPORT OF HIGH GROWTH BUSINESS IN ORDER TO IGNITE ENTREPRENEURSHIP, BOLSTER THE GLOBAL ECONOMY AND MAXIMIZE THE COMMERCIAL AND KNOWLEDGE-BASED POTENTIAL OF PROMISING INVENTIONS. CAI'S AWARD-WINNING CHALLENGE-BASED ACCELERATOR, RIGOROUS FACT-BASED DUE DILIGENCE AND CAPITAL EFFICIENT LEAN MANAGEMENT MODELS SERVE TO HYPER-ACCELERATE "GAZELLE" HIGH- PERFORMING STARTUPS FOR OUTSIZED INVESTOR RETURNS. FOR MORE INFORMATION ABOUT CAI, PLEASE VISIT HTTP://WWW.THECENTERFORADVANCINGINNOVATION.ORG. FORM 990, PAGE 6, PART VI, LINE 11B DIRECTOR AND CEO REVIEW FORM 990 PREPARED BY CPA FIRM FOR COMMENTS. UPON ANY COMMENTS, NEW DRAFT IS SUPPLIED AND ONCE APPROVED, A FINAL VERSION COPY OF THE RETURN IS SENT TO THE CEO FOR SIGNATURE AND FILING. FORM 990, PAGE 6, PART VI, LINE 12C INTERESTED PERSONS= ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING, BOARD DELEGATED POWERS, WHO HAS A DIRECTOR INDIRECT FINANCIAL INTEREST, AS DEFINED BELOW, IS AN INTERESTED PERSON PROCEDURES = 1- DUTY TO DISCLOSE IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT 2- DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS- AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS 3- PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST A) AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST B) THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT C) AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST D) IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT 4- VIOLATIONS OF THE CONFLICTS OF INTEREST POLICY A) IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE B) IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION RECORDS OF PROCEEDINGS = THE MINUTES OF THE GOVERNING BOARD AND ALL COMMITTEES WITH BOARD DELEGATED POWERS SHALL CONTAIN THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A FINANCIAL INTEREST IN CONNECTION WITH AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THE FINANCIAL-INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE GOVERNING BOARDS OR COMMITTEES DECISION AS TO WHETHER A CONFLICT OF INTEREST IN FACT EXISTED, THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION WITH THE PROCEEDINGS ANNUAL STATEMENTS EACH DIRECTOR, OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON A) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, B) HAS READ AND UND UNDERSTANDS THE POLICY, C) HAS AGREED TO COMPLY WITH THE POLICY, AND D) UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES FORM 990, PAGE 6, PART VI, LINE 15A BOARD APPROVES MANAGEMENT'S COMPENSATION FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE AVIALABLE UPON REQUEST TO THE ORGANIZATION FORM 990, PART XII THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE COMPILATION OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.