2025-05-14T15:31:23-05:00 2024-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 401 EAST JACKSON ST SUITE 1200 TAMPA FL 33602 990 2023-07-01 592959590 USF RESEARCH FOUNDATION INC UNIV 8139746171 3802 SPECTRUM BLVD 100 TAMPA FL 33612 DR SYLVIA THOMAS PRESIDENT & CHIEF EXECUTIVE OFFICER 8139746171 2025-05-01 1 1 MELANIE MCPEAK P01346034 8132511010 2023 2025-03-06 01:10:19Z DR SYLVIA THOMAS 3802 SPECTRUM BLVD 100 TAMPA FL 33612 17216310 0 X WWW.USF.EDU/RESEARCH-INNOVATION/RF/ X 1989 FL TO PROMOTE, ENCOURAGE AND ENHANCE RESEARCH ACTIVITIES AT THE UNIVERSITY OF SOUTH FLORIDA. 15 8 0 8 -8260 0 0 0 11717917 13521515 3691909 3694795 -8944 0 15400882 17216310 3298798 4315316 0 0 163972 170756 0 0 0 13084849 14524872 16547619 19010944 -1146737 -1794634 176683554 187774384 99322347 110502099 77361207 77272285 TO PROMOTE, ENCOURAGE AND ENHANCE RESEARCH ACTIVITIES AT THE UNIVERSITY OF SOUTH FLORIDA. 0 0 10759336 9681552 THE RESEARCH FOUNDATION ASSISTS IN DEVELOPING HIGH-TECHNOLOGY BUSINESSES AND RESEARCH PARTNERSHIPS THAT BOOST THE ECONOMY AND CREATE HIGH-PAYING JOBS IN THE TAMPA BAY AREA BY DEVELOPING ITS USF RESEARCH PARK OF TAMPA BAY INTO A HUB FOR BIOTECHNOLOGY AND LIFE SCIENCES RESEARCH AND ENTREPRENEURSHIP. 7126333 4315316 3482942 THE RESEARCH FOUNDATION PROVIDES A MECHANISM BY WHICH DISCOVERIES, INVENTIONS, PROCESSES AND WORK PRODUCTS OF USF FACULTY, STAFF AND STUDENTS CAN BE TRANSFERRED FROM THE UNIVERSITY LABORATORY TO BENEFIT THE PUBLIC. INCOME IS ALLOCATED IN ACCORDANCE WITH USF POLICY ON INVENTIONS AND WORKS TO INVENTORS AND THEIR RESEARCH SUPPORT FUNDS, AND FOR DIRECT SUPPORT OF RESEARCH AT THE UNIVERSITY. 165168 357021 THE RESEARCH FOUNDATION RECEIVES AND ADMINISTERS CERTAIN BASIC RESEARCH AND CLINICAL TRIAL CONTRACTS AND GRANTS SPONSORED BY THE PRIVATE SECTOR AND FOUNDATIONS. THE GRANT STUDIES ARE PERFORMED BY UNIVERSITY FACULTY, STAFF AND STUDENTS. 18050837 1 0 0 0 0 0 0 0 1 0 1 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 99 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 8 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 FL X X X DR SYLVIA THOMAS 8139744011 3802 SPECTRUM BLVD SUITE 100 TAMPA FL 33612 SYLVIA THOMAS PRESIDENT AND CEO 1.00 39.00 X X 0 294872 36886 JENNIFER CONDON TREASURER (START 11/16/23) 1.00 39.00 X X 0 294798 36097 RICHARD SOBIERAY TREASURER (LAST DATE 10/23/23) 1.00 39.00 X X 0 613047 36071 NORMA ALCANTAR DIRECTOR (LAST DATE 9/07/23) 1.00 39.00 X 0 210527 21462 BEATRIZ BARE DIRECTOR 1.00 0.00 X 0 0 0 ALISON BARLOW DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL CROSS DIRECTOR 1.00 39.00 X 0 78594 23896 JEFFREY HACKMAN DIRECTOR 1.00 0.00 X 0 0 0 KAREN HOLBROOK DIRECTOR 1.00 39.00 X 0 348055 26698 GITI JAVIDI DIRECTOR (START 5/14/24) 1.00 39.00 X 0 200781 20960 CHARLES LOCKWOOD DIRECTOR 1.00 39.00 X 0 641917 36996 GWEN MITCHELL DIRECTOR 1.00 0.00 X 0 0 0 PRASANT MOHAPATRA DIRECTOR 1.00 39.00 X 0 513854 49730 JOHN MORROW DIRECTOR 1.00 0.00 X 0 0 0 LINDA OLSON DIRECTOR 1.00 0.00 X 0 0 0 LAKSHMI SHENOY DIRECTOR 1.00 0.00 X 0 0 0 HARRY VENEZIA DIRECTOR 1.00 0.00 X 0 0 0 PATRICIA GAMBLE CFO (LAST DATE 2/28/23) 40.00 0.00 X X 0 79063 4142 ALLISON MADDEN SECRETARY 35.00 5.00 X 0 173846 28611 MICHELLE HICKEY DIRECTOR OF FINANCE (START 1/4/23) 40.00 0.00 X 0 143195 18444 PAUL R SANBERG FORMER PRESIDENT AND DIRECTOR (LAST DATE 1/18/21) 1.00 39.00 X 0 251764 32744 KEITH ANDERSON FORMER PRESIDENT AND DIRECTOR (LAST DATE 11/12/21) 1.00 39.00 X 0 199049 20957 0 4043362 393694 0 1 1 0 DPR CONSTRUCTION 2002 N TAMPA STREET STE 100 TAMPA FL 33602 CONSTRUCTION MANAGEMENT / REPAIRS 4852080 ED TAYLOR CONSTRUCTION SOUTH INC 2713 N FALKENBURG RD STE A TAMPA FL 33619 CONSTRUCTION MANAGEMENT / REPAIRS 2029234 M ARTHUR GENSLER JR & ASSOCIATES INC 1001 WATER STREET STE 200 TAMPA FL 33602 ARCHITECTURE 758441 TOM BARROW COMPANY 7004 BENJAMIN ROAD STE 106 TAMPA FL 33634 HVAC / CONSTRUCTION 554505 KIMLEY-HORN AND ASOCIATES INC 201 N FRANKLIN ST 1400 TAMPA FL 33602 GENERAL CONSTRUCTION 547167 19 PROPERTY RENTAL REVENUE 900099 9681552 9681552 ROYALTIES/LICENSES/OPTION FEES 900099 3482942 3482942 ADMINISTRATIVE FEES 900099 191854 191854 CONTRACTS & GRANTS 900099 165167 165167 13521515 3694795 -8260 3703055 17216310 13521515 -8260 3703055 4315316 4315316 170756 128067 42689 45631 43531 2100 113403 113403 120362 120362 4162 4162 93693 38838 54855 1579193 1579193 4072294 3999498 72796 19935 19395 540 1270932 1270932 4232438 4200176 32262 485866 474075 11791 SHARED SERVICES 1245155 615484 629671 TECHNOLOGY COSTS 1178450 1178450 BAD DEBT EXPENSE 52230 52230 ADMINISTRATIVE FEES 11128 11128 19010944 18050837 960107 0 2491143 12676260 725000 2109134 933793 1108973 324076 229367 121700787 45551335 69420045 76149452 6585881 1337864 34224039 38229741 1778874 863140 6645597 6529685 53555106 48540768 176683554 187774384 2278236 5540975 162820 260251 12995000 12125000 83886291 92575873 99322347 110502099 X 74847290 74004201 2513917 3268084 77361207 77272285 176683554 187774384 X -1794634 1697452 8260 X 0 1 X 1 0 X X 1 UNIVERSITY OF SOUTH FLORIDA 593102112 2 1 4315316 0 1 4315316 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1954902 2458568 2303974 2109496 0 8739633 8739633 95218064 42043546 53174518 4626083 3507789 1118294 13117007 13117007 76149452 USF INVESTMENT POOL 38229741 F 38229741 RESERVE FOR DEBT SERVICE 2513917 LEASE RECEIVABLE 46026851 48540768 DUE TO UNIVERSITY OF SOUTH FLORIDA 23443076 FINANCE LEASE OBLIGATION 25369448 DEFERRED INFLOW RELATED TO LEASES 43763349 92575873 18922022 1697452 1697452 17224570 -8260 -8260 17216310 19010944 0 19010944 0 19010944 PART IV, LINE 1B: PERIODICALLY, AS A DIRECT SERVICE ORGANIZATION OF THE UNIVERSITY, THE RESEARCH FOUNDATION ASSUMES RESPONSIBILITY FOR VARIOUS UNIVERSITY INITIATIVES. CUSTODIAL FUNDS INCLUDE THE USF TAMPA BAY TECHNOLOGY INCUBATOR, USF ECONOMIC DEVELOPMENT, USF INSTITUTE FOR ADVANCED DISCOVERY & INNOVATION, AND USF GRAPHICSTUDIO. IN ACCORDANCE WITH GASB 84, THESE FUNDS ARE CONSIDERED TO BE CUSTODIAL FUNDS WHICH HAVE BEEN EXCLUDED FROM THE RESEARCH FOUNDATION'S BALANCE SHEET FOR FINANCIAL REPORTING PURPOSES. CUSTODIAL FUNDS ARE CUSTODIAL IN NATURE AND DO NOT INVOLVE MEASUREMENT OF RESULTS OF OPERATIONS. THE BEGINNING BALANCE, ADDITIONS AND DELETIONS DURING THE TAX YEAR, AND ENDING BALANCE ARE SHOWN IN PART IV. PART XI, LINE 4B - OTHER ADJUSTMENTS: PARTNERSHIP INVESTMENT LOSS NOT RECORDED ON BOOKS -8,260. 1 UNIVERSITY OF SOUTH FLORIDA 4202 E FOWLER AVENUE TAMPA FL 33620 593102112 170(C)(1) 4315316 0 TECHNOLOGY TRANSFER OFFICE COSTS 1 0 PART I, LINE 2: THE RESEARCH FOUNDATION ONLY MAKES GRANTS TO ITS SUPPORTED ORGANIZATION, THE UNIVERSITY OF SOUTH FLORIDA. THE CLOSE CONNECTION BETWEEN THE ORGANIZATIONS SERVES TO MONITOR THE USE OF THE FUNDS. 0 0 0 0 0 0 0 0 0 CHARLES LOCKWOOD DIRECTOR 0 349496 0 292421 0 0 0 15200 0 21796 0 678913 0 0 RICHARD SOBIERAY TREASURER (LAST DATE 10/23/23) 0 512027 0 100000 0 1020 0 14209 0 21862 0 649118 0 0 PRASANT MOHAPATRA DIRECTOR 0 428352 0 71073 0 14429 0 31508 0 18222 0 563584 0 0 KAREN HOLBROOK DIRECTOR 0 328055 0 20000 0 0 0 16862 0 9836 0 374753 0 0 SYLVIA THOMAS PRESIDENT AND CEO 0 294022 0 0 0 850 0 15113 0 21773 0 331758 0 0 JENNIFER CONDON TREASURER (START 11/16/23) 0 278778 0 15000 0 1020 0 14329 0 21768 0 330895 0 0 PAUL R SANBERG FORMER PRESIDENT AND DIRECTOR (LAST 0 250744 0 0 0 1020 0 12888 0 19856 0 284508 0 0 NORMA ALCANTAR DIRECTOR (LAST DATE 9/07/23) 0 206484 0 4043 0 0 0 10613 0 10849 0 231989 0 0 GITI JAVIDI DIRECTOR (START 5/14/24) 0 196781 0 4000 0 0 0 10111 0 10849 0 221741 0 0 KEITH ANDERSON FORMER PRESIDENT AND DIRECTOR (LAST 0 195529 0 2500 0 1020 0 1050 0 19907 0 220006 0 0 ALLISON MADDEN SECRETARY 0 170326 0 2500 0 1020 0 8755 0 19856 0 202457 0 0 MICHELLE HICKEY DIRECTOR OF FINANCE (START 1/4/23) 0 140695 0 2500 0 0 0 9240 0 9204 0 161639 0 0 PART I, LINE 3 THE RESEARCH FOUNDATION HAS NO EMPLOYEES OF ITS OWN. IT HAS A SHARED SERVICES AGREEMENT WITH THE UNIVERSITY OF SOUTH FLORIDA AND REIMBURSES THE UNIVERSITY FOR THE USE OF ITS EMPLOYEES. IN ESTABLISHING THE COMPENSATION FOR THE RESEARCH FOUNDATION'S PRESIDENT, THE UNIVERSITY USED A WRITTEN EMPLOYMENT CONTRACT. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE (CONSISTING OF CERTAIN MEMBERS OF THE BOARD OF DIRECTORS) HAS AND MAY EXERCISE ALL OF THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE RESEARCH FOUNDATION, EXCEPT THAT SUCH EXECUTIVE COMMITTEE SHALL NOT HAVE AUTHORITY TO (A) DESIGNATE INDIVIDUALS FOR THE OFFICE OF DIRECTOR OR MEMBERSHIP ON THE EXECUTIVE COMMITTEE, (B) AMEND THE ARTICLES OF INCORPORATION OR BYLAWS, OR (C) APPROVE THE ANNUAL OPERATING BUDGET. FORM 990, PART VI, SECTION A, LINE 7A THE UNIVERSITY OF SOUTH FLORIDA PRESIDENT APPOINTS UP TO 2 FACULTY MEMBERS AND UP TO 10 NON-USF FACULTY MEMBERS TO THE BOARD OF DIRECTORS. ONE MEMBER OF THE BOARD OF DIRECTORS IS A DESIGNEE MEMBER OF THE UNIVERSITY OF SOUTH FLORIDA BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B AMENDMENTS TO THE ARTICLES OF INCORPORATION AND BYLAWS ALSO REQUIRE THE APPROVAL OF THE PRESIDENT OF THE UNIVERSITY OF SOUTH FLORIDA. ADDITIONALLY, THE UNIVERSITY PRESIDENT HAS THE POWER AND DUTY TO MONITOR AND CONTROL THE USE OF UNIVERSITY RESOURCES AND THE UNIVERSITY NAME BY THE RESEARCH FOUNDATION; MONITOR COMPLIANCE OF THE RESEARCH FOUNDATION WITH STATE AND FEDERAL LAWS AND RULES OF THE BOARD OF TRUSTEES; RECOMMEND TO THE BOARD OF TRUSTEES AN ANNUAL BUDGET THAT HAS BEEN APPROVED BY THE RESEARCH FOUNDATION; REVIEW AND APPROVE RESEARCH FOUNDATION EXPENDITURE PLANS AT LEAST QUARTERLY; APPROVE SALARY SUPPLEMENTS AND OTHER COMPENSATION OR BENEFITS PAID TO UNIVERSITY FACULTY AND STAFF FROM THE RESEARCH FOUNDATION'S ASSETS, AND SALARIES, BENEFITS, AND OTHER COMPENSATION PAID TO EMPLOYEES OF THE RESEARCH FOUNDATION CONSISTENT WITH BOARD OF TRUSTEE POLICIES; AND APPROVE CONTRIBUTIONS OF FUNDS OR SUPPLEMENTS, IF ANY, TO SUPPORT INTERCOLLEGIATE ATHLETICS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO, REVIEWED, AND APPROVED BY THE AUDIT COMMITTEE. A COPY OF THE FORM 990 IS SENT TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY REQUIRES ANNUAL DISCLOSURE, AND PROVIDES FOR A HEARING PROCESS FOR SUSPECTED VIOLATIONS AND CORRECTIVE OR DISCIPLINARY ACTION SHOULD THAT HEARING PROCESS DETERMINE A VIOLATION. PRIOR TO TAKING A SEAT AS A DIRECTOR OR A COMMITTEE MEMBER, AND ANNUALLY THEREAFTER AS LONG AS SUCH PERSON CONTINUES TO SERVE AS A DIRECTOR OR COMMITTEE MEMBER, SUCH PERSON SHALL COMPLETE, SIGN AND DELIVER TO THE PRESIDENT OF THE RESEARCH FOUNDATION A DISCLOSURE STATEMENT AFFIRMING THAT SUCH PERSON (A) HAS RECEIVED A COPY OF THE RESEARCH FOUNDATION'S CONFLICTS OF INTEREST POLICY, (B) HAS READ AND UNDERSTANDS THE POLICY, (C) HAS AGREED TO COMPLY WITH THE POLICY, AND (D) UNDERSTANDS THAT THE RESEARCH FOUNDATION IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IN THE EVENT OF A CONFLICT, THAT PERSON WILL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND VOTES. FORM 990, PART VI, SECTION B, LINE 15 THE RESEARCH FOUNDATION ADHERES TO AN OUTLINED PHILOSOPHY AND STRATEGY WITH REGARDS TO HOW IT DETERMINES COMPENSATION FOR ITS PRESIDENT. THE BASIC PRINCIPLES ARE TO ENSURE PAY IS COMPETITIVE, IS ENHANCED FOR THE ACQUISITION AND APPLICATION OF COMPETENCIES/CONTRIBUTIONS VALUED BY USF, AND IS ENHANCED FOR SUCCESSFUL OUTCOMES. THE RESEARCH FOUNDATION DOES NOT HAVE A FORMAL PROCESS FOR DETERMINING COMPENSATION OF OTHER OFFICERS AS IT DOES NOT COMPENSATE ANY OF ITS BOARD MEMBERS, AND THE OFFICERS ARE COMPENSATED THROUGH A RELATED TAX EXEMPT ORGANIZATION (THE UNIVERSITY OF SOUTH FLORIDA). KEY PERSONNEL IN SUPPORT OF THE RESEARCH FOUNDATION ARE SUBJECT TO COMPENSATION, CLASSIFICATION AND ALL OTHER PERSONNEL POLICIES OF THE UNIVERSITY TO ENSURE REASONABLENESS. FORM 990, PART VI, SECTION C, LINE 19 IT IS THE RESEARCH FOUNDATION'S POLICY, UPON RECEIPT OF A REASONABLE AND SPECIFIC REQUEST IN WRITING, TO MAKE PUBLIC RESEARCH FOUNDATION FINANCIAL INFORMATION, INCLUDING EXPENDITURES FROM RESEARCH FOUNDATION FUNDS, DOCUMENTATION REGARDING COMPLETED BUSINESS TRANSACTIONS AND INFORMATION ABOUT THE INVESTMENT AND MANAGEMENT OF RESEARCH FOUNDATION ASSETS; HOWEVER, THE RESEARCH FOUNDATION WILL NOT RELEASE PROPRIETARY INFORMATION. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE RESEARCH FOUNDATION WEBSITE. FORM 990, PART XI, LINE 9: PARTNERSHIP INVESTMENT LOSS NOT RECORDED ON BOOKS 8,260. CAUSF RESEARCH LLC 3802 SPECTRUM BLVD SUITE 100 TAMPA FL 33612 341982817 REAL ESTATE FL 0 0 USF RESEARCH FOUNDATION INC UNIVERSITY OF SOUTH FLORIDA 4202 E FOWLER AVENUE TAMPA FL 33620 593102112 EDUCATION FL 170(C)(1) N/A N/A 0 0 1 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 1 0