2025-03-25T13:30:05-07:00 2024-12-31 990 2024-01-01 383903952 THE CENTER FOR ADVANCING INNOVATION INC CENT 2024382208 9508 BURNING TREE RD BETHESDA MD 20817 Cody Locke Chief Innovation Officer 2565063733 2025-02-27 1 2024 2025-03-06 01:10:19Z ROSEMARIE TRUMAN 9508 BURNING TREE ROAD BETHESDA MD 20817 432823 0 X www.centerforadvancinginnovation.com 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. 4 3 2 0 0 0 0 0 265424 408152 44139 24671 0 0 309563 432823 0 0 0 0 606149 564609 0 0 0 146202 146616 752351 711225 -442788 -278402 1167399 875820 13177 0 1154222 875820 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. 0 0 711225 408152 The Global Health Innovation Challenge II (GHIC II) is orchestrated by the Center for Advancing Innovation (CAI) with support from the United States 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-viable inventions. CAI invites anyone to submit an idea with the potential to hyper-accelerate the future of health. An expert judging panel will select winners from the pool of teams, advancing promising inventions. 0 0 0 711225 1 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 2 1 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MD X ROSEMARIE TRUMAN 2024382208 9508 BURNING TREE ROAD BETHESDA MD 20817 ROSEMARIE TRUMAN CEO 40 0 X X 360000 0 0 CODY LOCKE CHIEF INNOVATION OFFICER 40 0 X 153000 0 0 NICK DONOFRIO CHAIRMAN 0 0 X 0 0 0 GIL PRICE DIRECTOR 0 0 X 0 0 0 REGINALD SEETO DIRECTOR 0 0 X 0 0 0 513000 0 0 2 0 1 0 0 0 GRANTS 541900 408152 408152 0 0 0 0 0 0 408152 24671 24671 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 432823 432823 0 0 0 0 513000 513000 0 0 23671 23671 27938 27938 675 675 34471 34471 26952 26952 7361 7361 11658 11658 21065 21065 27254 27254 1945 1945 572 572 13968 13968 695 695 711225 711225 0 0 1065971 381386 6720 5866 1426 854 100002 493580 1167399 875820 13053 0 124 0 13177 0 X 0 0 0 0 1154222 875820 1154222 875820 1167399 875820 -278402 0 0 0 0 0 X X 0 0 0 X 973500 43093 276974 1293567 1273833 277074 342000 265424 408152 2566483 2247333 320167 618974 265424 408152 3860050 3860050 6052 281 18461 44139 24671 93604 6052 281 18461 44139 24671 93604 2253385 320448 637435 309563 432823 3953654 0.97632 0.6482 0.02368 0.01 X 0 0 0 0 0 0 0 0 0 0 0 0 6720 5866 854 0 0 0 0 854 X 0 0 0 0 0 0 0 0 0 ROSEMARIE TRUMAN CEO 360000 0 0 0 0 0 0 0 0 0 360000 0 0 0 CODY LOCKE CHIEF INNOVATION OFFICER 153000 0 0 0 0 0 0 0 0 0 153000 0 0 0 Form 990, Part VI, Section B, Line 11b FORM 990, PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW FORM 990 The director and CEO review the Form 990 prepared by the CPA firm for comments. If any comments are made, a new draft is supplied. Once approved, a final version of the return is sent to the CEO for signature and filing. Form 990, Part VI, Section B, Line 12c FORM 990, PART VI, LINE 12C - ENFORCEMENT OF CONFLICTS POLICY INTERESTED PERSONS = Any director, principal officer, or member of a committee with governing board-delegated powers who has a direct or indirect financial interest, as defined below, is an interested person. PROCEDURES 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. 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. 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. 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 board's or committee's 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. 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 that such person: a) Has received a copy of the conflicts of interest policy. b) Has read and understands the policy. c) Has agreed to comply with the policy. d) Understands that the organization is charitable and, in order to maintain its federal tax exemption, it must engage primarily in activities that accomplish one or more of its tax-exempt purposes. Form 990, Part VI, Section B, Line 15 FORM 990, PART VI, LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL The board approves management's compensation. Form 990, Part VI, Section C, Line 19 FORM 990, PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATION Governing documents are available upon request from the organization. Form 990, Part XII FORM 990, PART XII - ADDITIONAL INFORMATION The Board of Directors is responsible for overseeing the compilation of financial statements and selecting an independent accountant. This process remains unchanged from the previous year.