Nonprofit · EIN 90-0348486
INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC
Tax-exempt · CLEARWATER, FL 33755
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,754,377 | $1,597,965 | $156,412 | $12,899,432 | $130,370 | $12,769,062 |
| June 30, 2024 | 990 | -$31,045 | $1,547,282 | -$1,578,327 | $12,702,532 | $89,882 | $12,612,650 |
| June 30, 2023 | 990 | $163,151 | $2,918,595 | -$2,755,444 | $14,290,682 | $99,705 | $14,190,977 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,693,058
- Investment income
- $61,319
- Net gain from sales of assets
- $61,319
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $92,423
- Other salaries and wages
- $4,500
- Salaries, compensation and benefits (total)
- $104,338
- Professional fundraising fees
- $0
- Legal fees
- $1,550
- Accounting fees
- $58,575
- Occupancy
- $3,319
- Travel
- $1,015
- Program services (functional)
- $1,142,541
- Management and general (functional)
- $455,424
Balance sheet and other
- Total assets, start of year
- $12,702,532
- Total assets, end of year
- $12,899,432
- Total liabilities, end of year
- $130,370
- Net assets, end of year
- $12,769,062
- Net assets without donor restrictions
- $12,769,062
- Gross receipts
- $1,754,377
- Employees
- 1
- Volunteers
- 35
- Year formed
- 2007
- State of legal domicile
- FL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RAFAEL LOHNER | EXECUTIVE DI Officer | 40 | $92,423 |
| JIM O'CONNELL | INTERIM CHAI Trustee or director, Officer | 1 | $0 |
| SHERRICK RICK WASSEL | VICE CHAIRMA Trustee or director, Officer | 1 | $0 |
| LYNN MATTICE | TREASURER Officer | 10 | $0 |
990 for the year ended June 30, 2024: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RAFAEL LOHNER | EXECUTIVE DI Officer | 40 | $90,000 |
| RENEE FINLEY | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| JIM O'CONNELL | BOARD MEMBER Trustee or director | 1 | $0 |
| SHERRICK RICK WASSEL | VICE CHAIRMA Trustee or director, Officer | 1 | $0 |
| LYNN MATTICE | TREASURER Officer | 10 | $0 |
990 for the year ended June 30, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RAFAEL LOHNER | EXECUTIVE DIRECTOR Officer | 40 | $90,000 |
| JIM O'CONNELL | BOARD MEMBER Trustee or director | 1 | $0 |
| RENEE FINLEY | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| SHERRICK RICK WASSEL | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 |
| LYNN MATTICE | TREASURER Officer | 10 | $0 |
Address and contacts
- Address (IRS master file)
- 912 DREW ST STE 102, CLEARWATER, FL 33755-4523
- Principal officer (990 for 2024)
- JIM O'CONNELL, 912 DREW STREET SUITE 102, CLEARWATER, FL 33755
- Signed the 990
- RAFAEL LOHNER, EXECUTIVE DIRECTOR
- Phone
- (727) 758-7687
- Website
- WWW.FLORIDA-INSTITUTE.COM
- Return prepared by
- 1SOURCE PARTNERS
Mission
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.
Program accomplishments
- 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. THE INSTITUTE'S FUNDS CONTINUE TO BE MANAGED BY THE SAME PRIVATE FUND MANAGER AS LAST FISCAL YEAR. INSTITUTE COMPANIES GENERATED OVER 150 MILLION IN REVENUE.Expenses $1,142,541 · revenue $1,693,058
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 90-0348486
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2010
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S40)
- Assets (IRS master file)
- $12,899,432
- Income (IRS master file)
- $1,754,377
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,754,377 | $1,597,965 | $12,899,432 | IRS |
| 990 | June 2024 | -$31,045 | $1,547,282 | $12,702,532 | XML |
| 990 | June 2023 | $163,151 | $2,918,595 | $14,290,682 | XML |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 90-0348486).
Questions about INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC
- What is the EIN of INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC?
- The employer identification number (EIN) of INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC is 90-0348486.
- Is INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
- Are donations to INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC?
- The 990 for the year ended June 30, 2025 names JIM O'CONNELL.
- Who are the officers and directors of INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC?
- The 990 for the year ended June 30, 2025 lists 4 people; 1 received compensation from the organization, the highest $92,423 (RAFAEL LOHNER, EXECUTIVE DI).
- How much revenue does INSTITUTE FOR COMMERCIALIZATION OF FLORIDA TECHNOLOGY INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,754,377, expenses of $1,597,965 and total assets of $12,899,432 at year end.
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