2025-03-26T19:51:34-05:00 2024-06-30 113066459 CERINI & ASSOCIATES LLP 3340 VETERANS MEMORIAL HWY BOHEMIA NY 11716 990 2023-07-01 113455950 BROAD HOLLOW BIOSCIENCE PARK INC BROA 6312270955 3 BIOSCIENCE PARK DRIVE FARMINGDALE NY 11735 DAN POLNER EXECUTIVE DIRECTOR 6312270955 2025-03-24 1 0 MATT BURKE P00760659 6315821600 2025-03-24 2023 2025-03-06 01:10:19Z DAN POLNER 3 BIOSCIENCE PARK DRIVE FARMINGDALE NY 11735 1467302 0 X WWW.BIOPARK.ORG X 1998 NY TO BUILD AND OPERATE SPECIALIZED FACILITIES TO SUPPORT A BIOSCIENCE ECONOMIC DEVELOPMENT PROGRAM. 6 6 5 0 0 0 0 8333 1523466 2444719 655057 -988127 0 2377 2178523 1467302 0 0 0 0 499853 494598 0 0 0 5543654 2765203 6043507 3259801 -3864984 -1792499 24864405 75596812 407150 1407245 24457255 74189567 TO CREATE, DEVELOP AND OPERATE AN ENVIRONMENT IN WHICH TECHNOLOGICALLY INNOVATIVE BUSINESSES CAN DEVELOP, AND RESEARCH CAN BE TRANSLATED INTO COMMERCIALLY VIABLE HIGH TECHNOLOGY. 0 0 2878342 2444719 TO OPERATE THE RENTAL OF THE FACILITIES PROVIDED TO TECHNOLOGICALLY INNOVATIVE BUSINESSES. 2878342 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 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 1 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X DAN POLNER 6312270955 3 BIOSCIENCE PARK DRIVE FARMINGDALE NY 11735 DR JOHN NADER CHAIR 4.00 X X 0 0 0 ANDREW WHITELEY VICE CHAIR 4.00 X X 0 0 0 DR LAURA JOSEPH DIRECTOR 1.00 X 0 0 0 STEPHEN MONEZ DIRECTOR 1.00 X 0 0 0 ERICA CHASE-GREGORY DIRECTOR 1.00 X 0 0 0 ADRIAN KRAINER DIRECTOR 1.00 X 0 0 0 DAN POLNER EXECUTIVE DIRECTOR 40.00 X 152760 0 27623 152760 0 27623 1 0 1 0 0 8333 8333 RENTAL INCOME 541700 2444719 2444719 2444719 -988127 -988127 OTHER INCOME 900099 2377 2377 2377 1467302 2447096 0 -988127 157441 118081 39360 205281 153961 51320 22706 17030 5676 81422 61066 20356 27748 20811 6937 107050 107050 3940 3940 17395 3479 13916 902079 902079 160077 160077 UTILITIES 941600 941600 REPAIRS AND MAINTENANCE 213308 213308 SERVICE CONTRACTS 191469 191469 FEES AND SUBSCRIPTIONS 90944 18189 72755 137341 77192 60149 3259801 2878342 381459 0 26638 242038 200273 6140 92578 587294 355450 17668532 9176412 9220465 8492120 14778691 16779489 44904 49635137 24864405 75596812 392464 532245 14686 875000 407150 1407245 X 24457255 24770362 49419205 24457255 74189567 24864405 75596812 -1792499 3309044 -448809 48664576 0 X X 0 1 X 1 0 X 8333 8333 2239808 2307002 2376212 2447499 2072114 11442635 2239808 2307002 2376212 2447499 2080447 11450968 11450968 1150726 3284342 1688545 655057 -988127 5790543 2377 2377 17243888 0.66410 0.61650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16601275 8109155 8492120 1067257 1067257 0 8492120 SECURITY DEPOSITS 44903 DEFERRED RENT ASSET 171029 IN-KIND RENT RECEIVABLE 49419205 49635137 PLEDGE PAYABLE 875000 875000 X 6848460 3309044 2072114 5381158 1467302 0 1467302 5780724 2520923 2520923 3259801 0 3259801 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAXATION UNDER INTERNAL REVENUE SERVICE CODE SECTION 501(C)3, AND IS SUBJECT TO FEDERAL AND STATE TAX ON NET UNRELATED BUSINESS INCOME. THE ORGANIZATION HAS NOT TAKEN AN UNSUBSTANTIATED TAX POSITION THAT WOULD REQUIRE PROVISION OF A LIABILITY UNDER FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC)740-10 (FORMERLY FIN INTERPRETATION NO. 48), "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES". UNDER ASC 740-10, AN ORGANIZATION MUST RECOGNIZE THE TAX BENEFIT ASSOCIATED WITH TAX POSITION TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE-LIKELY-THAN-NOT THAT THE POSITION WILL BE SUSTAINED. THE ORGANIZATION DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. THE ORGANIZATION HAS FILED IRS FORM 990, AS REQUIRED, AND ALL OTHER APPLICABLE RETURNS IN JURISDICTIONS WHEN IT IS REQUIRED. THE ORGANIZATION'S INFORMATION RETURNS ARE SUBJECT TO REVIEW BY THE APPROPRIATE AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE OF FILING. THERE WAS NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. 0 0 0 0 0 0 0 0 0 DAN POLNER EXECUTIVE DIRECTOR 152760 0 0 0 0 0 9583 0 18040 0 180383 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PROVIDED FOR REVIEW TO THE EXECUTIVE DIRECTOR AND TO THE BOARD BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY IS PROVIDED TO BOARD OF DIRECTORS ANNUALLY. EACH MEMBER IS REQUIRED TO DISCLOSE ANY CONFLICTS AND SIGN THE DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15 REQUESTS FOR COMPENSATION ADJUSTMENTS ARE PRESENTED ANNUALLY TO THE BOARD OF DIRECTORS BY THE EXECUTIVE DIRECTOR. THE BOARD DECIDES, BY MAJORITY VOTE, TO ACCEPT, MODIFY, AND DECLINE THE RECOMMENDATIONS AT THE ANNUAL GENERAL MEETING HELD IN JUNE OF EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XII, LINE 2C: THERE IS NO CHANGE IN PROCEDURE FROM LAST YEAR. FORM 990, PART XI, LINE 8: DURING THE YEAR ENDED JUNE 30, 2024, THE ORGANIZATION CORRECTED AN ERROR TO RECORD IN-KIND DONATED RENT FOR LONG-TERM DONATED SPACE USAGE. THIS CHANGE RESULTED IN THE RECOGNITION OF AN IN-KIND RENT RECEIVABLE OF $81,811,236, NET OF A PRESENT VALUE DISCOUNT OF $31,943,222, AND A CORRESPONDING INCREASE TO NET ASSETS OF $49,868,014 AS OF JUNE 30, 2023. SINCE THE IN-KIND RENT RECEIVABLE IS TIME-RESTRICTED, THE INCREASE IN NET ASSETS WAS REFLECTED AS NET ASSETS WITH DONOR RESTRICTIONS. ADDITIONALLY, THE ORGANIZATION DISCOVERED AN ERROR, NOTING A PLEDGE PAYABLE WAS REDUCING REVENUE INSTEAD OF CLASSIFYING IT AS A LONG-TERM PLEDGE PAYABLE WHEN PLEDGED. THIS CORRECTION RESULTED IN AN INCREASE TO PLEDGE PAYABLE OF $1,225,000 AND A DECREASE IN NET ASSETS WITHOUT DONOR RESTRICTIONS OF $1,225,000 AS OF JUNE 30, 2023. THE ORGANIZATION ALSO DISCOVERED IT HAD AN ALLOWANCE FOR DOUBTFUL ACCOUNTS THAT WAS A STALE VALUATION. THE ADJUSTMENT TO THE ALLOWANCE RESULTED IN AN INCREASE IN TENANT ACCOUNTS RECEIVABLE AND NET ASSETS WITHOUT DONOR RESTRICTIONS OF $21,562 AS OF JUNE 30, 2023.