2020-04-06T14:23:26-05:00 2019-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2018-07-01 363842479 Energy & Environmental Research Center Foundation ENER 7017775000 15 N 23rd St Stop 9017 Grand Forks ND 582029017 Josh Klug Treasurer 7017775000 2020-04-03 1 Deb Nelson CPA P01264758 6122536500 2020-04-03 216.147.181.49 2020-04-03 14:21:11 CD P D8A1E5117AA53286D53F57459EBB2DE5C7CA50FC 5755687E6BF8D8D10BDE3B83E6631EF3D64C584D 2018 2020-11-19 02:30:22Z EERC Ron Ness 15 N 23rd St Stop 9017 Grand Forks ND 582029017 202982 0 X www.eercfoundation.org X 1992 ND Advancing University of North Dakota EERC technology to the marketplace. 9 9 0 12 0 0 120554 45000 23792 764 44032 20979 0 0 188378 66743 26934 22217 0 0 0 0 0 0 0 109535 126141 136469 148358 51909 -81615 3100850 3149533 13378 22919 3087472 3126614 X To promote, encourage, and foster the education and training services, scientific investigations, technology development, technology commercialization, and other related services of UND's Energy & Environmental Research Center, Grand Forks, North Dakota. 0 0 115362 22217 764 The EERC Foundation provides a dedicated infrastructure to support commercialization activities and houses the rights to technologies developed by the EERC. Through two decades of experience meeting a wide variety of unique client needs,the EERC Foundation has developed highly flexible and innovative approaches to a variety of business arrangements. These include tailored licensing and equity agreements that support the client's achieving a competitive edge. (Continued on Schedule O)The EERC and its partner, the EERC Foundation, are committed to commercialization. Spin-off businesses and high-tech and manufacturing jobs that pay well are some of the many fruits of successful commercialization efforts. The potential benefits of effective commercialization of EERC-developed technologies are enormous. Commercialization also secures work at the EERC through development contracts as well as by providing funding to assist in the development of commercially viable technology. The EERC Foundation investing cash in the EERC creates a virtuous cycle of economic growth. Equally important is the EERC Foundation's role in providing incentives for innovative work at the EERC. Under the State Board of Higher Education policy, inventors in a commercialized technology receive at least 30% of the net commercialization income. In essence, the EERC Foundation supports the EERC market-driven business model of a timely and seamless transition between the creation of the technology and its commercialization that leads to economic development. The EERC Foundation acts as the EERC's "commercialization catalyst." As of fiscal yearend June 30, 2019, the EERC Foundation has 11 active, issued US patents and 11 patents pending. 115362 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 X Thomas Erickson 7017775000 15 N 23rd St Stop 9017 Grand Forks ND 582029017 X Ron Ness President 1.00 X X 0 0 0 David Straley Vice President 1.00 X X 0 0 0 Josh Klug Secretary/Treasurer 1.00 X X 0 0 0 Mark Johnsrud Member 0.50 X 0 0 0 Jeff Hume Member 0.50 X 0 0 0 Robert McLennan Member 0.50 X 0 0 0 Chuck McConnell Member 0.50 X 0 0 0 Deanna Carlson Zink Member 0.50 X 0 0 0 Mike Nasi Member 0.50 X 0 0 0 0 0 0 0 0 0 0 0 45000 45000 Outreach Income 541900 761 761 3 3 764 37086 37086 120132 136239 -16107 -16107 -16107 66743 764 0 20979 X 22217 22217 767 767 11515 11515 15863 15863 805 805 31513 31513 4046 4046 Abandoned Intellectual 36146 36146 Outreach 24844 24844 642 642 148358 115362 32996 0 37316 8937 500 94151 94151 1895809 1848604 267372 324666 805702 873175 3100850 3149533 13378 22919 13378 22919 X 3087472 3126614 3087472 3126614 3100850 3149533 -81615 120757 0 X 0 1 X 0 0 X 437473 454055 1075906 120554 45000 2132988 437473 454055 1075906 120554 45000 2132988 35609 2097379 26565 37086 63651 10592 40000 50592 2247231 24556 0.93330 0.97190 X Schedule A, Part II, Line 10, Explanation of Other Income: Other Income - 2014 Amount: $ 10,592. 2015 Amount: $ 40,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 Program Related Investments 324666 F 324666 X 175985 120757 120757 55228 11515 11515 66743 136843 0 136843 11515 11515 148358 Part X, Line 2: The Foundation is organized as a North Dakota nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3), qualifies for the charitable contributions deduction under Section 170(b)(1)(A)(vi), and has been determined not to be a private foundation under Section 509(a)(1). The Foundation is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Foundation is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. The Foundation has determined it is not subject to unrelated business income tax and has not filed an Exempt Organization business income Tax Return (Form 990-T) with the IRS. The Foundation believes that it has appropriate support for any tax position taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. 1 UND Energy & Environmental Research Center 15 North 23rd Street Stop 9018 Grand Forks ND 582029018 466002491 UND 22217 IP Commercialization 1 Part I, Line 2: The allocation is to the University of North Dakota Energy & Environmental Research Center (EERC). This is the single allocation made by this Foundation. The EERC reports on commercialization efforts at each Foundation board meeting. Form 990, Part VI, Section A, line 1 The duly elected officers of the organization who are members of the Board of Directors of the organization constitute the Executive Committee and are able to conduct business on behalf of the Board of Directors when appropriate. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the Treasurer and presented to the board at the spring board meeting. Form 990, Part VI, Section B, line 12c An interested person is required to disclose a conflict of interest. The Executive Committee determines if a conflict exists and develops an appropriate mitigation plan. Individuals with conflicts will recuse themselves from voting on issues on which they have a conflict. Form 990, Part VI, Section C, line 19 Financial statements are publicly disclosed through the North Dakota University System. Governing policy and COI documents are not publicly distributed unless requested. Per the Foundation relationship agreement with the University of North Dakota, portions of these would be publicly available. Form 990, Part IX, line 11g Consulting Fees: Program service expenses 0. Management and general expenses 15,266. Fundraising expenses 0. Total expenses 15,266. Other Operating Fees: Program service expenses 0. Management and general expenses 410. Fundraising expenses 0. Total expenses 410. Bank Fees: Program service expenses 0. Management and general expenses 187. Fundraising expenses 0. Total expenses 187. Fdtn Holding Agrebon LLC 15 N 23rd St Stop 9017 Grand Forks ND 582029017 383915003 Holding Company ND 0 280 EERC Foundation Fdtn Holding Mercury Control LLC 15 N 23rd St Stop 9017 Grand Forks ND 582029017 383922262 Holding Company ND 0 324946 EERC Foundation