2025-10-21T15:43:34-05:00 2024-06-30 521946112 HILDEBRAND LIMPARIS & ASSOCIATES CPAS PC 7101 GUILFORD DRIVE SUITE 200 FREDERICK MD 21704 990 2023-07-01 201262262 FREDERICK INNOVATIVE TECHNOLOGY CENTER I INC FRED 3016942999 4539 METROPOLITAN COURT FREDERICK MD 21704 KATHIE CALLAHAN BRADY PRESIDENT/CEO 3016942999 2025-10-21 1 1 CARL HILDEBRAND P00295254 3016209101 2025-10-21 2023 2025-03-06 01:10:19Z KATHIE CALLAHAN BRADY 4539 METROPOLITAN COURT FREDERICK MD 21704 7751754 0 X WWW.FITCI.ORG X 2004 MD TO PROVIDE A NURTURING AND SUPPORTIVE ENVIRONMENT TO START-UP TECHNOLOGY-BASED BUSINESSES. 15 14 6 68 0 0 963797 7048897 675011 697490 82 140 0 5227 1638890 7751754 0 0 0 0 436170 455560 0 0 0 666842 1317007 1103012 1772567 535878 5979187 2908352 10993146 2070135 3870879 838217 7122267 TO FOSTER ENTREPRENEURIAL ACTIVITY IN THE INFORMATION TECHNOLOGY AND LIFE SCIENCE INDUSTRIES WITHIN FREDERICK COUNTY, MARYLAND. 0 0 1437312 702857 PROVIDES FURNISHED OFFICES AND WET LABS EQUIPPED WITH HIGH-SPEED INTERNET, TELEPHONES, AND ADMINISTRATIVE SERVICES, SUPPORTING CLIENTS EMPLOYING NEARLY A HUNDRED PEOPLE AT ANY GIVEN TIME. 1437312 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 9 0 1 6 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 X THE ORGANIZATION 3016942999 4539 METROPOLITAN COURT FREDERICK MD 21704 KATHIE CALLAHAN BRADY PRESIDENT/CEO 57.67 X X 150000 0 0 ANDRES MENDOZA VICE CHAIRMAN 0.79 X 0 0 0 SEAN WALKER TREASURER/SECRETARY 0.35 X 0 0 0 THERESA BETHUNE MEMBER 0.65 X X 0 0 0 RICHARD GRIFFIN MEMBER 0.35 X 0 0 0 JON ROWLEY MEMBER 0.63 X 0 0 0 JEANNE O'CONNELL MEMBER 0.58 X 0 0 0 VELEKA PEEPLES - DYER MEMBER 0.52 X 0 0 0 DAVID PALANK MEMBER 0.42 X 0 0 0 TIEN WONG MEMBER 0.67 X 0 0 0 MEI SUN MEMBER 0.58 X 0 0 0 JOHN MOLNAR MEMBER 0.46 X 0 0 0 JODIE BOLLINGER MEMBER 0.29 X 0 0 0 ANNE BALDUZZI MEMBER 0.88 X 0 0 0 PATRICK WHEELER CHAIRMAN 0.96 X X 0 0 0 150000 0 0 1 0 1 0 0 6956704 92193 57618 7048897 RENTAL INCOME FROM TEN 531120 640204 640204 SERVICE FEES FROM CLIE 611710 57286 57286 697490 140 140 FORFEIT OF SECURITY DE 531390 3692 3692 CREDIT CARD FEES INCOM 561499 1535 1535 5227 7751754 702857 0 0 141243 100284 40959 217622 156336 61286 62884 45025 17859 33811 24209 9602 2634 2634 13527 13527 119068 110824 8244 26747 24072 2675 71546 35141 36405 720 288 432 576951 519256 57695 724 724 2998 2923 75 86802 86802 357511 286009 71502 7494 6745 749 CATERING 24126 19397 4729 EQUIPMENT AND COMPUTER 12990 11763 1227 TELEPHONE AND COMMUNICA 11233 6314 4919 MEMBERSHIP DUES 1936 1200 736 1772567 1437312 335255 0 658561 688819 73714 817783 48635 11123 9980518 1621198 1094594 8359320 1032848 1116101 2908352 10993146 372654 211881 1697481 3658998 2070135 3870879 X 838217 7122267 838217 7122267 2908352 10993146 5979187 304863 0 X 1 X 0 0 0 X 202341 404023 224657 957686 6956704 8745411 202341 404023 224657 957686 6956704 8745411 8745411 8745411 2968569 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8097589 840627 7256962 1882929 780571 1102358 8359320 OPERATING LEASE RIGHT-OF-USE ASSET 1075793 SECURITY DEPOSITS 40308 1116101 TENANT SECURITY DEPOSITS 40308 UNEARNED GRANTS 560799 TENANT RENTS PAID IN ADVANCE 14269 BANK LINE OF CREDIT 1948635 OPERATING LEASE LIABILITY 1094987 3658998 X X 0 0 0 0 0 0 0 0 0 PART I, LINE 3 A COMPENSATION COMMITTEE WAS ESTABLISHED BY THE BOARD TO REVIEW THE COMPENSATION OF THE PRESIDENT/CEO. AN INEPENDENT CONSULTANT WAS HIRED TO REVIEW COMPENSATION AND PROVIDE FEEDBACK TO THE BOARD. X FURNITURE & FIXTURES 1 57418 FAIR VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REQUIRES BOARD MEMBERS ANNUALLY TO REVIEW A CONFLICT OF INTEREST DISCLOSURE STATEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE INFORMATION IS AVAILABLE UPON REQUEST. THE DELAY IN FILING THE ORGANIZATION'S FORM 990 FOR THE TAX YEAR 2023 WAS DUE TO AN UNFORESEEN ERROR BY A THIRD-PARTY SERVICE PROVIDER RESPONSIBLE FOR FILING OUR TAX DOCUMENTS. OUR ORGANIZATION ENGAGED WITH A NEW CPA FIRM, CLEARVIEW GROUP, INC. DUE TO OUR NEW REQUIREMENT FOR AUDITED FINANCIAL STATEMENTS. WE COMMUNICATED WITH THE NEW FIRM THAT WE WANTED THEM TO HANDLE THE TIMELY FILING OF THE ORGANIZATIONS FORM 990 TAX RETURN. CLEARVIEW GROUP, INC. SUBSEQUENTLY WAS AQUIRED BY CITRIN COOPERMAN, LLP AND UNFORTUNATELY, DUE TO AN INTERNAL MISHAP AT CITRIN COOPERMAN, LLP DURING THE MERGER, THE REQUIRED EXTENSION FORM WAS NOT SUBMITTED ON TIME. THE ERROR WAS COMMUNICATED TO US IN JUNE, 2025, AFTER THE FILING DEADLINE HAD PASSED. UPON LEARNING OF THE OVERSIGHT, WE TOOK IMMEDIATE ACTION BY FILING THE FORM 990 AND ENSURED ALL OTHER COMPLIANCE REQUIREMENTS WERE MET.THE ORGANIZATION HAS CONSISTENTLY COMPLIED WITH ALL IRS FILING REQUIREMENTS IN PRIOR YEARS, AS DEMONSTRATED BY OUR RECORD OF TIMELY SUBMISSIONS. TO PREVENT FUTURE OCCURRENCES, WE HAVE IMPLEMENTED ADDITIONAL CHECKS AND BALANCES, INCLUDING A SECONDARY REVIEW PROCESS FOR ALL FILINGS AND ENHANCED COMMUNICATION PROTOCOLS WITH THIRD-PARTY VENDORS. WE BELIEVE THESE CIRCUMSTANCES CONSTITUTE REASONABLE CAUSE UNDER IRS GUIDELINES. WE ARE COMMITTED TO MAINTAINING FULL COMPLIANCE.