2021-11-15T15:18:34-06:00 2020-12-31 390859910 BAKER TILLY US LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2020-01-01 412093194 UNIVERSITY ENTERPRISE LABORATORIES INC UNIV 6516412800 1000 WESTGATE DRIVE SUITE 101 ST PAUL MN 55114 ANDREW LAFRENCE BOARD CHAIRMAN 6516412800 2021-11-11 1 ANDREW LAFRENCE 999009999 LAWRENCE H MOHR CPA P00447603 6128764500 2021-11-11 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ANDREW LAFRENCE 1000 WESTGATE DRIVE SUITE 101 ST PAUL MN 55114 3796390 0 X WWW.UELMN.ORG X 2002 MN UEL IS ORGANIZED FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES. IT SERVES AS A LABORATORY-BASED INCUBATOR FOR EMERGING LIFE SCIENCE COMPANIES BY PROVIDING ACCESS TO WORLD-CLASS LABORATORY FACILITIES, SHARED EQUIPMENT, BUSINESS AND ENTREPRENEURSHIP TRAINING, A COMMUNITY OF STARTUPS, AND COLLABORATION WITH UNIVERSITY-BASED RESEARCHERS. IT ALSO SUPPORTS STUDENT WORK EXPERIENCE THROUGH INTERNSHIP OPPORTUNITIES, AND TECHNOLOGY TRANSFER WITH THE UNIVERSITY OF MINNESOTA. IT IS ORGANIZED AND WILL CONTINUE TO BE OPERATED TO PROMOTE, ENCOURAGE, AND AID SCIENTIFIC INVESTIGATION, RESEARCH, TECHNOLOGICAL ADVANCEMENT, EDUCATIONAL OPPORTUNITIES, AND ENTREPRENEURSHIP; PROMOTE, ENCOURAGE AND AID IN THE MUTUAL TRANSFER AND APPLICATION OF SCIENTIFIC INVESTIGATION AND RESEARCH, TECHNOLOGICAL ADVANCEMENT, AND EDUCATIONAL OPPORTUNITIES IN COLLABORATION WITH EDUCATIONAL AND RESEARCH INSTITUTIONS, INDUSTRY, BUSINESS, AND GOVERNMENT. 12 12 26 0 34350 0 19417 147546 3164269 3641982 8905 5716 13927 1146 3206518 3796390 0 0 0 0 175462 306793 0 0 0 3550303 3793843 3725765 4100636 -519247 -304246 21226769 20642598 16151317 15871392 5075452 4771206 THE MISSION OF THE UNIVERSITY ENTERPRISE LABORATORIES IS TO SUPPORT EARLY-STAGE VENTURES IN LIFE SCIENCES TO GROWTH AND COMMERCIAL SUCCESS THROUGH CONNECTIONS, SERVICES, AND WORLD-CLASS LABORATORY FACILITIES IN MINNESOTA'S ENTREPRENEURSHIP ECOSYSTEM. 0 0 3884224 3608778 SERVES AS A LABORATORY-BASED INCUBATOR FOR EMERGING LIFE SCIENCE COMPANIES BY PROVIDING ACCESS TO WORLD-CLASS LABORATORY FACILITIES, SHARED EQUIPMENT, BUSINESS AND ENTREPRENEURSHIP TRAINING, A COMMUNITY OF STARTUPS, AND COLLABORATION WITH UNIVERSITY-BASED RESEARCHERS. 3884224 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 23 0 26 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 1 1 0 MN X SARAH ROSSER 9528769213 2001 KILLEBREW DRIVE SUITE 100 BLOOMINGTON MN 55425 STEVE MERTENS CHAIR 1.00 X X 0 0 0 ARON ANDERSON VICE CHAIR 1.00 X X 0 0 0 BRIAN MENSINK TREASURER-OUTGOING 1.00 X X 0 0 0 MAURA DONOVAN DIRECTOR-OUTGOING 1.00 X 0 0 0 ROBERT ELDE SECRETARY 1.00 X X 0 0 0 SARAH HARRIS DIRECTOR-OUTGOING 1.00 X 0 0 0 LISA HERRON-OLSON DIRECTOR 1.00 X 0 0 0 KEN LEVITT DIRECTOR-OUTGOING 1.00 X 0 0 0 SHAYE MANDLE DIRECTOR-OUTGOING 1.00 X 0 0 0 JAY NOVAK DIRECTOR 1.00 X 0 0 0 ANDY LAFRENCE TREASURER 1.00 X X 0 0 0 BARBARA NELSON DIRECTOR 1.00 X 0 0 0 KATHLEEN TUNE DIRECTOR 1.00 X 0 0 0 KATHLEEN PICKARD DIRECTOR-OUTGOING 1.00 X 0 0 0 TOM MASON DIRECTOR 1.00 X 0 0 0 JESSICA MOGILKA DIRECTOR 1.00 X 0 0 0 PAT MASCIA DIRECTOR 1.00 X 0 0 0 DIANE RUCKER EXECUTIVE DIRECTOR 40.00 X 140137 0 19726 140137 0 19726 1 0 1 0 TAPESTRY MANAGEMENT LLC 2001 KILLEBREW DR STE 100 MINNEAPOLIS MN 55425 MANAGEMENT SERVICES 483373 CLOVER MAINTENANCE 7229 177TH AVE NE FOREST LAKE MN 55025 JANITORIAL SERVICES 177871 2 120000 27546 147546 RENTAL INCOME 532000 3498070 3463720 34350 INTERNSHIP REIMBURSEME 541900 135762 135762 MAILBOX RENTALS 532000 8150 8150 3641982 5716 5716 MISCELLANEOUS REVENUE 900099 1146 1146 1146 3796390 3608778 34350 5716 171776 139252 32524 115878 115878 19139 8570 10569 133008 133008 1508 1508 41050 12125 28925 910 910 170005 169705 300 96462 96462 53104 53104 938012 938012 834804 834804 811251 811251 51165 42497 8668 REPAIRS AND MAINTENANCE 378557 378557 BAD DEBT EXPENSE 269745 269745 DUES & SUBSCRIPTIONS 9960 9960 EQUIPMENT RENTAL 4302 4302 4100636 3884224 216412 0 288180 392174 269015 316677 122037 183906 79828 58669 105676 109300 30694558 11452329 19873266 19242229 488767 339643 21226769 20642598 168212 113095 54828 35753 15678779 15617974 249498 104570 16151317 15871392 X 5075452 4771206 5075452 4771206 21226769 20642598 -304246 0 X X 0 1 X 1 0 X 20629 19417 147546 187592 2703713 2755766 2829134 3164269 3607632 15060514 2703713 2755766 2849763 3183686 3755178 15248106 0 1013599 1035998 970054 1137683 1334549 5491883 1013599 1035998 970054 1137683 1334549 5491883 9756223 18183 16928 15445 8905 5716 65177 18183 16928 15445 8905 5716 65177 700 11854 1323 1785 1146 16808 2722596 2784548 2866531 3194376 3762040 15330091 0.63640 0.62900 0.00430 0.00480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2420000 2420000 21975876 5780914 16194962 5542938 5041312 501626 755744 630103 125641 19242229 REFUNDABLE SECURITY DEPOSITS 104570 104570 X PART X, LINE 2: THE ORGANIZATION FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. 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TO THE FACILITY FOR A TOTAL OF 143,000 SQ.FT. ORIGINALLY, THE ORGANIZATION INTENDED TO FINANCE THE FACILITY THROUGH THE USE OF VARIABLE RATE REVENUE BONDS. THE ORGANIZATION LATER DETERMINED THAT IT WAS IN ITS BEST INTEREST TO UTILIZE NEW MARKET TAX CREDITS AND OTHER INVESTMENT MECHANISMS WHICH REQUIRE THAT THE FACILITY BE OWNED IN A SUBSIDIARY OF THE ORGANIZATION. THE ORGANIZATION EXPANDED ITS FACILITY IN 2019, WITH A NEW ADDITION OF 19,000 SQ.FT., FUNDED IN PART USING NEW MARKET TAX CREDITS AND CONVENTIONAL FINANCING. THE EXPANSION ADDED WET LABS, DRY LABS, OFFICE SPACE, AND CONFERENCE ROOMS TO BETTER SERVE UNIVERSITY ENTERPRISE LABORATORIES' MISSION. UEL REAL ESTATE HOLDINGS LLC 1000 WESTGATE DRIVE ST PAUL MN 55114 202133240 LAB RENTAL TO EMERGING LIFE SCIENCE COMPANIES MN 3670809 20578947 UNIVERSITY ENTERPRISE LABORATORIES