2020-09-28T07:27:24-05:00 2018-12-31 131639826 EISNERAMPER LLP 130 NORTH 18TH STREET SUITE 3000 PHILADELPHIA PA 191032757 990 2018-01-01 231645908 UNIVERSITY CITY SCIENCE CENTER UNIV 2159666045 3675 MARKET STREET SUITE 400 PHILADELPHIA PA 19104 CURTIS M HESS INTERIM CEO 2159666045 2020-09-24 1 HELEN M MARTIN P01330899 2158818800 64.238.150.4 2020-09-24 08:34:11 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0EDE4F5BE59FB99924CAAEE7408372872BC47088 2018 2021-01-29 14:40:06Z X CURTIS HESS 3675 MARKET STREET SUITE 400 PHILADELPHIA PA 19104 55998949 0 X WWW.SCIENCECENTER.ORG X 1963 PA TO ACCELERATE TECHNOLOGY COMMERCIALIZATION IN THE GREATER PHILADELPHIA REGION. 22 21 86 0 0 0 1342285 5539084 22565755 21180764 156386 19279101 477831 500000 24542257 46498949 415653 520199 0 0 5802368 5618647 0 0 631406 17509954 21500101 23727975 27638947 814282 18860002 85155120 97026058 65428467 55614812 19726653 41411246 X TO ACCELERATE COMMERCIALIZATION OF THE REGION'S MOST PROMISING SCIENCE AND TECHNOLOGY INNOVATIONS, THEREBY PROMOTING TECHNOLOGY-BASED ECONOMIC DEVELOPMENT, COLLABORATION, EDUCATION AND THE CONTINUING REDEVELOPMENT OF THE UCITY SQUARE CAMPUS IN UNIVERSITY CITY. 0 0 2453209 520199 3168594 SCIENCE & TECHNOLOGYSEE DETAIL SCHEDULE O NARRATIVE 1617581 35090 COMMUNITY ENGAGEMENTSEE DETAIL SCHEDULE O NARRATIVE 14206517 18477080 RESEARCH PARKSEE DETAIL SCHEDULE O NARRATIVE 18277307 1 1 0 1 0 0 0 0 0 1 1 0 1 1 1 1 0 1 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 1 0 0 0 1 84 0 1 86 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 PA NJ NY MD CA MA FL GA DC X LORRAINE LOPRESTI CFO 2159666000 3675 MARKET STREET SUITE 400 PHILADELPHIA PA 19104 DARIO C ALTIERI BOARD MEMBER (THRU 6/18) 1.00 X 0 0 0 KERRY BENSON BOARD MEMBER 0.30 X 0 0 0 M BRIAN BLAKE BOARD MEMBER 0.30 X 0 0 0 KENNETH J BLANK VICE CHAIR (THRU 6/18) 1.00 X X 0 0 0 DAWN A BONNELL BOARD MEMBER 0.30 X 0 0 0 CRAIG R CARNAROLI BOARD CHAIR 1.00 X X 0 0 0 CHRISTOPHER M CASHMAN BOARD MEMBER 0.30 X 0 0 0 ERNEST J DIANASTASIS BOARD MEMBER 0.30 X 0 0 0 MICHAEL A DIPIANO VICE CHAIR 1.00 X X 0 0 0 JANE H HOLLINGSWORTH VICE CHAIR (EFF 7/18) 0.30 X 0 0 0 OSAGIE O IMASOGIE BOARD MEMBER 0.30 X 0 0 0 J LARRY JAMESON BOARD MEMBER 0.30 X 0 0 0 DAVID R KING BOARD MEMBER 0.30 X 0 0 0 STEPHEN K KLASKO BOARD MEMBER (THRU 6/18) 0.30 X 0 0 0 CARL KOPFINGER BOARD MEMBER 1.00 X 0 0 0 KEITH LEAPHART BOARD MEMBER (THRU 6/18) 0.30 X 0 0 0 WILLIAM J MARRAZZO BOARD MEMBER 0.30 X 0 0 0 KEITH A ORRIS BOARD MEMBER 0.30 X 0 0 0 KATHLEEN M SHAY BOARD MEMBER 1.00 X 0 0 0 STEPHEN SPINELLI JR PHD BOARD MEMBER 0.30 X 0 0 0 STEPHEN TANG PRESIDENT AND CEO (THRU 3/18) 40.00 X X 304415 0 35033 THOMAS J TODOROW BOARD MEMBER 0.30 X 0 0 0 TARA L WEINER BOARD MEMBER 1.00 X 0 0 0 STEPHEN ZARRILLI PRESIDENT AND CEO (EFF 10/18) 40.00 X X 87500 0 3991 MICHELE MASUCCI BOARD MEMBER 0.30 X 0 0 0 JEREMY NOWAK BOARD MEMBER (THRU 6/18) 0.30 X 0 0 0 RICHARD VAGUE BOARD MEMBER 0.30 X 0 0 0 DAVID PACITTI BOARD MEMBER 0.30 X 0 0 0 SAUL BEHAR VP & GENERAL COUNSEL, SECR 40.00 X 308062 0 50752 LORRAINE LOPRESTI CFO AND VP OF FIN. & ADMIN 20.00 20.00 X 133073 133072 36244 CURTIS HESS SENIOR VP REAL ESTATE 10.00 30.00 X 78312 313251 49084 JEANNE MELL VP MKTG/COMMUNICATIONS (THRU 7/18) 40.00 X 175678 0 27567 WENYONG WANG VP OF SCIENCE & TECH (THRU 6/18) 40.00 X 150466 0 750 PETER MELLEY DIRECTOR, NEW VENTURES 40.00 X 128547 0 12909 JEFFERY ANDREWS SENIOR PROPERTY MANAGER 1.00 40.00 X 0 172108 18302 CLAYTON MORAVEC III CORPORATE CONTROLLER 20.00 20.00 X 68134 68134 27860 KARINA SOTNIK DIRECTOR, BUSINESS INCUBATION 40.00 X 145747 0 6967 MARY F ROBERTSON PROPERTY MANAGER 1.00 40.00 X 0 132115 37175 1579934 818680 306634 10 0 1 0 GDI SERVICES INC 780 5TH AVE STE 115 KING OF PRUSSIA PA 19406 JANITORIAL SERVICES 782577 THE SULLIVAN COMPANY 2 LA GRANDE AVE ESSINGTON PA 19029 CONSTRUCTION SERVICES 573487 CORPORATE FACILITIES INC 2129 CHESTNUT STREET PHILADELPHIA PA 19103 INTERIOR DESIGN 549361 HIGH 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0.45820 0.46580 0.00580 0.00600 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: CAPITAL CONTRIBUTION TO PHASE 1 VENTURES - 2015 AMOUNT: $ 1,000,000. 2016 AMOUNT: $ 500,000. 2017 AMOUNT: $ 500,000. 2018 AMOUNT: $ 500,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 90897 90897 0 PART II-B, LINE 1: THE UNIVERSITY CITY SCIENCE CENTER UTILIZED THE SERVICES OF CONSULTANTS TO ASSIST IN THE PROCUREMENT OF PUBLIC SECTOR FUNDING TO SUPPORT ITS PROGRAMS AND CAPITAL PROJECTS. THE CONSULTANTS POSITIONED UCSC TO RECEIVE FUNDING, PRIMARILY THROUGH DIRECT GRANTS. 284915 -12017 272898 247385 37530 284915 239353 8032 247385 234167 5186 239353 227194 6973 234167 1.00000 0 0 5040230 5040230 91230185 47482655 43747530 6195623 3861646 2333977 184818 184818 51306555 INVESTMENTS - PROGRAM RELATED 6508958 F 6508958 DEFERRED RENT 1267895 OTHER DEFERRED COSTS, NET 324323 PLANNING AND DEVELOPMENT 135422 DUE FROM RELATED PARTY 7927138 9654778 DEPOSITS & OTHER CURRENT LIAB. 148989 DEFERRED RENT 5460699 DEFERRED FELLOWSHIP FUND 8167 5617855 X PART V, LINE 4: DEVELOPMENT FUND INCOME IS ALLOCATED FOR USE IN SCIENCE CENTER OPERATIONS. THE FUND IS AVAILABLE TO SUPPORT WORKING CAPITAL, DEVELOPMENT AND CAPITAL PURPOSES. THE ESTHER M. KLEIN ENDOWMENT FUND SUPPORTS KLEIN GALLERY (EKG) OPERATIONS THROUGH STEAM PROGRAMMING, IN AN EFFORT TO PROMOTE ART AND SCIENCE AND ART EDUCATION TO THE SURROUNDING PHILADELPHIA COMMUNITY. PART X, LINE 2: THE SCIENCE CENTER IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, ALTHOUGH ITS CONSOLIDATED ENTITIES, THE PARK, PTI, PIV, AND SCEC, ARE FOR PROFIT ENTITIES WHICH ARE SUBJECT TO INCOME TAXES. TOTAL FEDERAL AND STATE INCOME TAX EXPENSE FROM THE CONSOLIDATED ENTITIES WAS $0 AND $180,000 FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017, RESPECTIVELY. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY, IF THE CENTER HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY A GOVERNMENT AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CENTER, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2018 OR 2017, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE CENTER 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. THERE WERE NO INCOME TAX RELATED INTEREST AND PENALTIES RECORDED FOR EACH OF THE YEARS ENDED DECEMBER 31, 2018 OR 2017. 1 IMMERGE LABS LLC 3401 GRAYS FERRY AVE BLDG 176-1004 PHILADELPHIA PA 19146 814724734 N/A 6489 DIGITAL HEALTH ACCELERATOR FUNDING REGDESK INC 3401 MARKET STREET SUITE 200 PHILADELPHIA PA 19104 465749922 N/A 32200 DIGITAL HEALTH ACCELERATOR FUNDING REPISODIC INC 614 S 4TH STREET NUM 112 PHILADELPHIA PA 19147 821095813 N/A 32200 DIGITAL HEALTH ACCELERATOR FUNDING PAINQX INC 1 YORKTOWN CIRCLE KENNETT SQUARE PA 19348 474331446 N/A 32200 DIGITAL HEALTH ACCELERATOR FUNDING TEMPLE UNIVERSITY 1938 LIACOURA WALK PHILADELPHIA PA 19122 231365971 501(C) (3) 100000 PROOF OF CONCEPT FUNDING NEW JERSEY INSTITUTE OF TECHNOLOGY 323 MARTIN LUTHER KING JR BLVD NEWARK NJ 07102 226000910 501(C) (3) 100000 PROOF OF CONCEPT FUNDING THE WISTAR INSTITUTE 3601 SPRUCE STREET PHILADELPHIA PA 19104 236434390 501(C) (3) 100000 PROOF OF CONCEPT FUNDING LIA DIAGNOSTICS INC 1015 CHESTNUT STREET PHILADELPHIA PA 19107 473806437 N/A 57200 DIGITAL HEALTH ACCELERATOR FUNDING CARECIERGE INC 502 WYNDMOOR AVENUE WYNDMOOR PA 19038 159685144 N/A 57200 DIGITAL HEALTH ACCELERATOR FUNDING 3 6 PART I, LINE 2: GRANT FUNDS MONITORING AT UCSC IS AN ORGANIZATION-WIDE ENDEAVOR. THE GRANT PROCESS IS COORDINATED FROM APPLICATION THROUGH CLOSE OUT WITH OVERSIGHT PROVIDED BY AN EXECUTIVE STAFF MEMBER. AWARD DOCUMENTATION AND APPLICABLE LAWS ARE REVIEWED TO ENSURE COMPLIANCE WITH THE TERMS AND CONDITIONS OF THE AWARD. IN INSTANCES WHERE THE SCIENCE CENTER GRANTS SUB-AWARDS, THE SCIENCE CENTER RESERVES THE RIGHT TO REQUEST PROOF OF EXPENDITURE AS WELL AS SUPPORTING DOCUMENTATION TO SUBSTANTIATE EXPENSES FROM THE SUB-RECIPIENT. REPORTING REQUIREMENTS ARE COORDINATED IN CONJUNCTION WITH THE ASSIGNED EXECUTIVE. UPON TERMINATION OF THE AWARD, ALL REQUIRED CLOSE OUT MATERIALS ARE SUBMITTED. X 1 1 X X X X 1 1 0 0 0 0 0 0 0 STEPHEN TANG PRESIDENT AND CEO (THRU 3/18) 135522 0 168893 0 0 0 29148 0 5885 0 339448 0 0 0 SAUL BEHAR VP & GENERAL COUNSEL, SECR 225750 0 82312 0 0 0 29148 0 21604 0 358814 0 0 0 LORRAINE LOPRESTI CFO AND VP OF FIN. & ADMIN 105003 105003 28070 28069 0 0 14043 14043 4079 4079 151195 151194 0 0 CURTIS HESS SENIOR VP REAL ESTATE 58642 234570 19670 78681 0 0 29148 0 4984 14952 112444 328203 0 0 JEANNE MELL VP MKTG/COMMUNICATIONS (THRU 7/18) 106852 0 68826 0 0 0 17229 0 10338 0 203245 0 0 0 WENYONG WANG VP OF SCIENCE & TECH (THRU 6/18) 123917 0 26549 0 0 0 0 0 750 0 151216 0 0 0 JEFFERY ANDREWS SENIOR PROPERTY MANAGER 0 156581 0 15527 0 0 0 16801 0 1501 0 190410 0 0 CLAYTON MORAVEC III CORPORATE CONTROLLER 60840 60840 7294 7294 0 0 6250 6250 7680 7680 82064 82064 0 0 KARINA SOTNIK DIRECTOR, BUSINESS INCUBATION 132617 0 13130 0 0 0 5668 0 1299 0 152714 0 0 0 MARY F ROBERTSON PROPERTY MANAGER 0 125259 0 6856 0 0 0 12002 0 25173 0 169290 0 0 PART I, LINE 1A THE SCIENCE CENTER REIMBURSES THE PRESIDENT/CEO OF THE CENTER FOR DUES PAID FOR A SOCIAL CLUB MEMBERSHIP USED FOR BUSINESS-RELATED ACTIVITIES. PART I, LINE 3 SEE SCHEDULE O NARRATIVE - FORM 990, PART VI, SECTION B, LINE 15. PART I, LINES 4A-B A LUMP SUM SEVERANCE WAS PAID TO WENYONG WANG IN THE AMOUNT OF $56,250, REPRESENTING 3 MONTHS SALARY. SECTION 457(F) DEFERRED COMPENSATION PLAN. ACCRUED CONTRIBUTION APPLICABLE TO OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES LISTED ON SCHEDULE J TOTALED $59,000 FOR THE YEAR ENDED DECEMBER 31, 2018. FORM 990 AMENDED RETURN: THIS FORM 990 IS BEING AMENDED TO REMOVE FROM THE BALANCE SHEET ON PART X THE ASSETS, LIABILITIES AND EQUITY OF A NUMBER OF RELATED ENTITIES THAT HAD PREVIOUSLY BEEN CONSOLIDATED WITH UNIVERSITY CITY SCIENCE CENTER'S BALANCES IN PART X OF FORM 990. SUBSEQUENT TO THE FILING OF THE FORM 990, IT WAS DETERMINED THAT THESE ENTITIES SHOULD NOT BE INCLUDED ON THE BALANCE SHEET ON UCSC'S 990, AS THEY ARE SEPARATE LEGAL ENTITIES THAT FILE SEPARATE RETURNS. THE REVENUE AND EXPENSE ACTIVITY AS PREVIOUSLY REPORTED ON PART VIII AND PART IX IS COMPRISED ONLY OF ACTIVITIES RELATED TO UCSC AND THEREFORE DID NOT REQUIRE AN ADJUSTMENT AS A RESULT OF THIS AMENDMENT. THE AMENDED RETURN IS BEING FILED TO UPDATE FORM 990 PART X AND PART XI AND SCHEDULE D PART VI AND PART IX FOR THIS CHANGE. UCSC ALSO ELECTED NOT TO PRESENT THE RECONCILIATIONS ON SCHEDULE D PART XI AND PART XII, AS SEPARATE AUDITED STATEMENTS WERE NOT PREPARED, AND COMPLETION OF SCHEDULE D PARTS XI AND XII IS OPTIONAL. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: SCIENCE AND TECHNOLOGY QED PROOF OF CONCEPT PROGRAM IN EARLY 2009 THE SCIENCE CENTER LAUNCHED THE NATION'S FIRST MULTI-INSTITUTIONAL PROOF-OF-CONCEPT PROGRAM TO FUND AND PROMOTE THE DEVELOPMENT AND COMMERCIALIZATION OF EARLY-STAGE LIFE SCIENCE TECHNOLOGIES AT ACADEMIC RESEARCH INSTITUTIONS. THIS PROGRAM NAMED "QED", AFTER THE LATIN PHRASE QUOD ERAT DEMONSTRANDUM ("THAT WHICH MUST BE DEMONSTRATED") - PROVIDES BUSINESS DEVELOPMENT AND FUNDING SUPPORT FOR ACADEMIC RESEARCHERS THROUGHOUT PENNSYLVANIA, NEW JERSEY AND DELAWARE BY SUPPORTING EARLY-STAGE LIFE SCIENCE R&D WITH HIGH COMMERCIAL POTENTIAL. AS ANGEL INVESTORS, VENTURE CAPITALISTS, AND ESTABLISHED COMPANIES INCREASINGLY INVEST IN LATER-STAGE ENTERPRISES, FINDING EARLY-STAGE FUNDING TO ACCELERATE INNOVATION HAS BECOME MORE DIFFICULT. QED ASSISTS PROMISING RESEARCHERS IN BRIDGING THE GAP - OFTEN REFERRED TO AS THE "VALLEY OF DEATH" - BETWEEN PUBLICLY FUNDED LABORATORY RESEARCH AND PRIVATELY-FUNDED TECHNOLOGY COMMERCIALIZATION AND PRODUCT DEVELOPMENT. QED LEVERAGES THE SCIENCE CENTER'S RELATIONSHIPS WITH UNIVERSITIES, GOVERNMENT AGENCIES, AND PUBLIC AND PRIVATE COMPANIES, DRIVING TECHNOLOGY TRANSFER AND NEW BUSINESS FORMATION, ADVANCING ENTREPRENEURSHIP, AND ENCOURAGING INNOVATION, COMPETITIVENESS, AND KNOWLEDGE-BASED RETENTION AND EXPANSION. THE PROGRAM'S KEY GOAL IS TO MARSHAL EXISTING REGIONAL RESOURCES TO SUBSTANTIALLY REDUCE INVESTMENT RISK IN BOTH EARLY-STAGE LIFE SCIENCE AND DIGITAL HEALTH R&D PROJECTS, PREPARING THEM FOR ESTABLISHED HEALTH CARE COMPANIES AND PRIVATE INVESTORS, WITHOUT ADDING TO THE PROLIFERATION OF SUB-SCALE, UNDERCAPITALIZED VENTURES ALREADY IN THE MARKET. BY ENGAGING THE REGION'S ACADEMIC INSTITUTIONS, RESEARCH SCIENTISTS, ENTREPRENEURS, INVESTORS, AND INDUSTRY STAKEHOLDERS IN EARLY-STAGE COMMERCIALIZATION, THE SCIENCE CENTER SEEKS TO INCREASE THE PACE AND VALUE OF TECHNOLOGY TRANSFER IN THE REGION. QED GOES BEYOND A TYPICAL GAP FUND IN TWO PRIMARY RESPECTS THAT CAN BE APPLIED TO ANY RESEARCH AREA. FIRST, IT ADDS COMMERCIAL GUIDANCE AS A CRITICAL, EARLY COMPONENT. THIS GUIDANCE TAKES THE FORM OF BUSINESS ADVISORS, SPECIALIST CONSULTANTS (E.G., PATENT LAWYERS, REGULATORY EXPERTS, AND MEDICAL REIMBURSEMENT CONSULTANTS), TECHNICAL AND CLINICAL REVIEW OF TECHNOLOGY BY OUTSIDE REVIEWERS, AND MARKET-BASED SCREENING AND SELECTION. SECOND, IT PROMOTES COMPETITIVE PARTICIPATION BY A LARGE NUMBER OF RESEARCH INSTITUTIONS, INCORPORATING TRANSPARENT PROCESSES AND IDENTIFYING PROJECTS WITH THE GREATEST COMMERCIAL POTENTIAL. CURRENTLY, A TOTAL OF 21 RESEARCH INSTITUTIONS IN PENNSYLVANIA, NEW JERSEY AND DELAWARE PARTICIPATE IN THE PROGRAM. PROJECTS ARE REVIEWED, PRIORITIZED, AND RECOMMENDED FOR FUNDING BY A SELECTION TEAM COMPRISED EXCLUSIVELY OF PROFESSIONALS WHO WORK IN VENTURE CAPITAL AND INDUSTRY, REPRESENTING NUMEROUS REGIONAL AND NATIONAL FIRMS AND COMPANIES. PARTICIPATING ACADEMIC INSTITUTIONS, INVESTORS, AND COMPANIES ARE LISTED AT HTTPS://WWW.SCIENCECENTER.ORG/DISCOVER/QED. EACH PROJECT SELECTED FOR FUNDING RECEIVES UP TO $200,000 OVER 12 MONTHS, WITH HALF OF THE FUNDING PROVIDED BY THE SCIENCE CENTER AND THE OTHER HALF BY THE SCIENTIST'S HOST INSTITUTION. CONTINUED FUNDING DURING THE PROJECT IMPLEMENTATION PHASE IS CONDITIONAL UPON SATISFYING THE OBJECTIVES OUTLINED IN THE R&D PLAN, ACCORDING TO MILESTONES AND SCHEDULE. THE QED STAFF MEETS REGULARLY WITH THE PROJECT TEAMS, AND THE INVESTIGATORS PROVIDE PERIODIC PROGRESS UPDATES ON RESEARCH AND COMMERCIALIZATION ACTIVITIES. DURING THIS PHASE, THE QED STAFF ALSO ASSISTS WITH THE IDENTIFICATION AND PURSUIT OF APPROPRIATE SOURCES OF FOLLOW-ON FUNDING FOR SUCCESSFUL PROJECTS THAT EXIT THE PROGRAM. THROUGH 11 FUNDING CYCLES, QED HAS SCREENED 686 LIFE SCIENCE TECHNOLOGY APPLICATIONS, ACCEPTED 128 PROJECTS, AND AWARDED AN AGGREGATE OF $7.45 MILLION TO 38 PROJECTS AT RESEARCH INSTITUTIONS THROUGHOUT THE TRI-STATE AREA. THE PROGRAM HAS FACILITATED THE FORMATION OF EIGHT STARTUP COMPANIES AND THE LICENSING OF 10 TECHNOLOGIES. IN ADDITION, AWARDED PROJECTS HAVE LEVERAGED MORE THAN $22 MILLION IN FOLLOW-ON FUNDING. PHASE 1 VENTURES (P1V) P1V IS A TECHNOLOGY ACCELERATOR AND FUNDING SOURCE FOR NEW BUSINESS FORMATION AND GROWTH. P1V IS A TURNKEY APPROACH TO THE CREATION AND DEVELOPMENT OF COMPANIES TO COMMERCIALIZE RESEARCH FROM OUR ACADEMIC PARTNER INSTITUTIONS. P1V PROVIDES STRATEGIC FUNDING; INDEPENDENT MANAGEMENT, CORPORATE STRUCTURE AND RESOURCES; AND CONNECTIONS TO NETWORKS OF ENTREPRENEURS, INVESTORS, AND INDUSTRY PARTNERS. THROUGH P1V, THE SCIENCE CENTER IS CAPITALIZING ON AND EXPANDING ITS DEEP RELATIONSHIPS WITH UNIVERSITIES AND HEALTHCARE INSTITUTIONS THROUGHOUT THE TRI-STATE AREA AND BEYOND, IN ORDER TO FACILITATE MORE (AND BETTER) START-UP COMPANY FORMATION THAT WILL ULTIMATELY LEAD TO ECONOMIC GROWTH AND JOB CREATION. SINCE THE INCEPTION OF THE PROGRAM, P1V HAS COMMITTED A TOTAL OF MORE THAN $2.5 MILLION OF FUNDING TO 28 COMPANIES FROM TECHNOLOGY DEVELOPED AT 14 ACADEMIC PARTNER INSTITUTIONS. THESE COMPANIES HAVE SUBSEQUENTLY ATTRACTED A TOTAL OF MORE THAN $8 MILLION OF NON-DILUTIVE FUNDING AND FOLLOW-ON INVESTMENT. THE PORT BUSINESS INCUBATOR THE SCIENCE CENTER'S PORT BUSINESS INCUBATOR HOUSES AND FACILITATES THE GROWTH OF EARLY-STAGE TECHNOLOGY COMPANIES. SINCE THE SCIENCE CENTER'S INCEPTION IN 1963, GRADUATE ORGANIZATIONS AND CURRENT RESIDENTS OF THE INCUBATOR HAVE SUPPORTED MORE THAN 40,000 DIRECT AND INDIRECT JOBS THAT REMAIN IN THE GREATER PHILADELPHIA REGION TODAY AND CONTRIBUTE MORE THAN $13 BILLION TO THE REGIONAL ECONOMY ANNUALLY. THE PORT PROVIDES FACILITATED ACCESS TO AN INNOVATION ENVIRONMENT OF ADVISORY SERVICES, BUSINESS SERVICES, ACADEMIC RESOURCES AND EXPERTISE, AND A 30,000-SQUARE-FOOT BUSINESS INCUBATOR FACILITY. PORT COMPANIES BENEFIT FROM THE SCIENCE CENTER'S BUSINESS ADVISORY COMMUNITY OF PROVEN ENTREPRENEURIAL MENTORS, AND THE SCIENCE CENTER'S SCIENTIFIC ADVISORY COMMITTEE COMPRISING THE SENIOR RESEARCH OFFICERS AT THE REGION'S LEADING RESEARCH INSTITUTIONS. COMPANIES ARE HOUSED WITHIN A PLUG-AND-PLAY, STATE-OF-THE-ART OFFICE AND LABORATORY FACILITY ABLE TO ACCOMMODATE UP TO 150 PERSONNEL. RESIDENTS HAVE ACCESS TO EDUCATIONAL AND NETWORKING EVENTS, BROADBAND CONNECTIVITY, SHARED LABORATORY AND OFFICE EQUIPMENT, AND SHARED CONFERENCE FACILITIES. PORT MANAGERS SUPPORT THE INCUBATION PROCESS, ASSISTING RESIDENTS WITH INDIVIDUAL GROWTH NEEDS AND FACILITATING THEIR "GRADUATION" FROM THE PORT. TYPICAL RESIDENTS HAVE SEED-STAGE TO SERIES A CAPITAL AND 1-25 EMPLOYEES. THE PORT FLEXIBLY ACCOMMODATES THE CHANGING NEEDS OF EMERGING, FAST-GROWTH COMPANIES BY OFFERING FOOTPRINTS FROM VIRTUAL THROUGH SINGLE DESK, TO SINGLE-, DOUBLE- OR TRIPLE-OCCUPANCY OFFICE SPACE, AND A RANGE OF LAB SPACE TO ACCOMMODATE 1 - 16 RESEARCHERS. IN FURTHERING THEIR ADVANCEMENT OF SCIENCE, THE INCUBATOR COMPANIES' WORK ENCOMPASSES INNOVATIONS IN THERAPEUTICS, MEDICAL DEVICES, DIAGNOSTICS, RESEARCH TOOLS, BIOINFORMATICS, NANOTECHNOLOGY, INFORMATION TECHNOLOGY, AND CLEAN ENERGY. BASED ON ITS INITIAL SUCCESS AS AN "INCUBATOR OF INCUBATORS," THE PORT HAS CONTINUED TO HOST A NUMBER OF PROGRAMS ON BEHALF OF ACADEMIC INSTITUTIONS, CORPORATIONS, AND GOVERNMENT ORGANIZATIONS WHICH ARE SEEKING FLEXIBLE WAYS TO INCUBATE THEIR OWN BUSINESS VENTURES. PORT STAFF CONTINUES TO SEEK OPPORTUNITIES TO PARTNER AND COLLABORATE WITH DOMESTIC AND FOREIGN ORGANIZATIONS IN BUSINESS INCUBATION AND ACCELERATION. A STRATEGIC DECISION OF THE SCIENCE CENTER, THE PORT BUSINESS INCUBATOR WAS CLOSED IN DECEMBER 2018. LIKE THE STARTUPS WE SUPPORT, WE'RE CONSTANTLY EVOLVING OUR BUSINESS MODEL. WITH CIC MANAGING SHARED OFFICE AND LAB SPACE IN 3675 MARKET, THE SCIENCE CENTER IS ABLE TO FOCUS ON WHAT IT DOES BEST DEVELOPING AND DELIVERING PROGRAMMING AND SUPPORT THE COMMERCIALIZATION OF PROMISING TECHNOLOGY BY CONNECTING ENTREPRENEURS TO INVESTORS, ADVISORS AND MENTORS, AS WELL AS TO INDUSTRY AND THE PRODUCT MARKET TO HELP THEM EXPERIMENT, TEST AND ITERATE MORE EFFICIENTLY. INNOVATION CENTER @3401 LOCATED AT 3401 MARKET STREET, THE INNOVATION CENTER @3401 IS THE LARGEST GROUP OF FUNDED EARLY-STAGE TECH COMPANIES IN PHILADELPHIA. A COLLABORATION BETWEEN THE SCIENCE CENTER AND DREXEL UNIVERSITY, IC@3401 IS ALSO HOME TO CHARACTER LAB. OPENED IN 2014, THIS PROGRAM SUPPORTS INNOVATION, COLLABORATION, AND BUSINESS CREATION. IT IS AN INTEGRATED COMMUNITY DESIGNED TO HELP ENTREPRENEURS GO FROM AN IDEA TO A BUSINESS. MEMBERS FREQUENTLY OBTAIN THEIR FIRST REVENUES, HIRE THEIR FIRST EMPLOYEES, AND RAISE THEIR FIRST CAPITAL. THE INNOVATION CENTER @3401 BUILDS UPON THE SUCCESS OF DREXEL'S EXCITE CENTER AND THE SCIENCE CENTER'S LONG AND IMPACTFUL TRADITION OF INCUBATING STARTUPS AND CONVENING COMMUNITIES AROUND INNOVATION AND ENTREPRENEURSHIP. IC@3401 CURRENTLY HAS MORE THAN 35 MEMBER COMPANIES; BETWEEN 2016 AND 2018, 52 STARTUPS RAISED MORE THAN $53MM IN PRESEED AND SEED CAPITAL. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS CONTINUED: DIGITAL HEALTH ACCELERATOR LAUNCHED IN 2014, THE DIGITAL HEALTH ACCELERATOR FOCUSES ON COMPANIES DEVELOPING A HEALTHCARE PROJECT WITH A DIGITAL COMPONENT. TO BE ELIGIBLE, COMPANIES MUST HAVE A PROTOTYPE AND BE READY TO BEGIN COMMERCIALIZING THROUGH SALES OR CORPORATE PARTNERSHIPS. THE DIGITAL HEALTH ACCELERATOR PROVIDES FUNDING, MENTORSHIP (INTELLECTUAL PROPERTY, SALES AND MARKETING, REGULATORY, FUNDRAISING, ETC.), WARM INTRODUCTIONS, AND A FLEXIBLE WORKPLACE FOR PARTICIPANTS. TO DATE, THE FIRST 20 COMPANIES IN THE PROGRAM HAVE CREATED MORE THAN 225 JOBS, GENERATED SALES REVENUES OF MORE THAN $25 MILLION, AND ATTRACTED INVESTMENTS OF MORE THAN $67 MILLION. UCITY SQUARE AS THE SCIENCE CENTER HAS EXPANDED ITS IMPACT AND FOOTPRINT, WE'VE ADAPTED AND EXPANDED OUR OPERATIONS AS WELL. THE CAMPUS THAT THE SCIENCE CENTER HAS BUILT OVER THE LAST 50+ YEARS IS NOW KNOWN AS UCITY SQUARE, A MIXED-USE COMMUNITY THAT WE'RE CONTINUING TO DEVELOP IN PARTNERSHIP WITH WEXFORD SCIENCE + TECHNOLOGY AND VENTAS. UCITY SQUARE REFERS TO OUR EXISTING PHYSICAL ASSETS, AS WELL AS THE PLANNED ADDITIONAL 4 MILLION SQUARE FEET OF OFFICE, LAB, RESIDENTIAL AND RETAIL. THE GROWTH OF UCITY SQUARE AS A PHYSICAL DEVELOPMENT LEVERAGES THE SCIENCE CENTER'S VISION OF PHILADELPHIA AS A GLOBAL INNOVATION CITY, BY PROVIDING MORE SPACE FOR COMPANIES TO GROW AND SCALE, MORE COMMUNITY MEMBERS TO INTERACT AND COLLABORATE WITH, AND MORE OPPORTUNITIES FOR PROGRAMMING, EDUCATION, ACCESS, AND INCLUSION. AT UCITY SQUARE, THE SCIENCE CENTER WILL CONTINUE TO EXPAND UPON ITS 50+ YEAR LEGACY OF SUPPORTING INNOVATION, ENTREPRENEURSHIP, AND TECHNOLOGY-BASED ECONOMIC DEVELOPMENT. UCITY SQUARE IS THE PLACE FOR INNOVATION TO HAPPEN AND THE SCIENCE CENTER IS THE NUCLEUS THAT MAKES IT ALL POSSIBLE. FORM 990, PART III, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS: COMMUNITY ENGAGEMENT THE SCIENCE CENTER SUPPORTS THE COMMUNITY THROUGH A VARIETY OF PROGRAMS AND PARTNERSHIPS, INCLUDING QUORUM, VENTURE CAFE PHILADELPHIA EDUCATION INITIATIVES SUCH AS OUR FIRSTHAND PROGRAM, AND THE UNIVERSITY CITY KEYSTONE INNOVATION ZONE (UC KIZ). STEAM (SCIENCE, TECHNOLOGY, ENGINEERING, ART AND MATH) THE SCIENCE CENTER'S STEAM PROGRAMMING ADDS ART TO THE STEM SUBJECTS OF SCIENCE, TECHNOLOGY, ENGINEERING AND MATH, TO CREATE PROJECT-BASED PROGRAMS AND WORKSHOPS THAT EMPOWER INDIVIDUALS AND CONVENE COMMUNITIES AROUND CREATIVE APPLICATIONS OF TECHNOLOGY. MANY OF OUR STEAM OFFERINGS FOCUS ON REACHING AT-RISK YOUTH, PRIMARILY IN THE NEIGHBORHOODS SURROUNDING THE SCIENCE CENTER'S WEST PHILADELPHIA CAMPUS, WHILE OTHERS ARE OPEN TO ALL MEMBERS OF THE COMMUNITY. OUR GOAL IS TO SPARK AND NURTURE A LIFELONG INTEREST IN THE STEM DISCIPLINES AND LOWER THE BARRIERS TO ENTRY FOR THOSE SEEKING A CAREER IN A STEM-RELATED FIELD. EQUAL PARTS SCIENCE, TECHNOLOGY, ENGINEERING, ART AND MATH, THE SCIENCE CENTER'S FIRSTHAND INITIATIVE PROVIDES PHILADELPHIA'S CURIOUS MINDS ACCESS TO THE KNOWLEDGE AND RESOURCES OF THE SCIENCE CENTER. BY FUELING DISCOVERY AND EXPLORATION WITH INTERACTIVE PROGRAMMING, WE ARE OPENING THE DOORS FOR THE MINDS OF TOMORROW. USING A COMBINATION OF HIGH- AND LOW-TECH TOOLS PAIRED WITH HANDS-ON PROJECT-BASED LEARNING OPPORTUNITIES, FIRSTHAND OFFERS YEAR-ROUND PROGRAMMING TO YOUTH FREE OF CHARGE. MAKING THE FIRSTHAND EXPERIENCE UNIQUE IS THE LOCATION IN A PROFESSIONAL SCIENCE/BUSINESS ENVIRONMENT, DEMONSTRATIONS IN THE LABS OF COMPANIES WORKING ON THE SCIENCE CENTER CAMPUS, AND MENTORSHIP OPPORTUNITIES WITH SCIENTISTS, DESIGNERS AND ENTREPRENEURS WHO MAKE UP THE SCIENCE CENTER COMMUNITY. IN 2018, FIRSTHAND MOVED INTO A NEW, DEDICATED SPACE IN THE SCIENCE CENTER'S NEW HOME AT 3675 MARKET STREET. THE NEW FIRSTHAND LAB FEATURES TWO STATE-OF-THE ART CLASSROOMS WITH LAB EQUIPMENT; A MAKERSPACE WITH LASER CUTER, DRILL PRESS, HAND TOOLS AND BAND SAW; AND A DIGITAL STUDIO WITH 3-D PRINTERS, LARGE-FORMAT PRINTER, AND VINYL CUTTER. DURING 2018, FIRSTHAND WORKED WITH 475 LOCAL YOUTH AND PROVIDED 4,850 HOURS OF STUDENT ENGAGEMENT THROUGH PROGRAMS AND EVENTS. FIRSTHAND PROGRAMS INCLUDE: - DNA SELFIE ASKS GROUPS OF 10 TO 15 MIDDLE SCHOOL GIRLS TO LOOK AT AND PRESENT THEMSELVES IN A NEW CREATIVE LIGHT. THEY TRANSLATE REAL-LIFE LAB EXPERIENCES BY EXTRACTING THEIR OWN DNA AND STUDYING THEIR OWN CELLS TO TRANSFORM THEM INTO INNOVATIVE SELF-PORTRAITS USING PHOTO-MICROSCOPY, VINYL CUTTERS, LASER CUTTERS AND THEIR OWN INGENUITY. THE GIRLS THEN DESIGN A GROUP EXHIBIT OF THEIR GENETIC "SELFIES" TO EXHIBIT TO THE PUBLIC. - POLYMER PLAY TEACHES YOUTH ABOUT THE INS AND OUTS OF MATERIAL SCIENCE THROUGH MAKING AND BUILDING WITH POLYMERS. REAL-LIFE LAB EXPERIENCES INSPIRE EXPERIMENTS AND CONSTRUCTION PROJECTS. ACTIVITIES INCLUDE MAKING BIO-PLASTIC, RECYCLING PLASTICS INTO NEW MATERIALS, AND EXPERIMENTING WITH TOOLS LIKE VACUUM SEALS, LASER CUTTERS AND POWER TOOLS. A FINAL TEAM PROJECT IS DESIGNED AND BUILT BY THE GROUP, AND THEN EXHIBITED TO THE PUBLIC. - AMPITUP EXPLORES THE INNER WORKINGS OF THE BATTERIES AND CIRCUITS THAT POWER OUR DAILY ACTIVITIES. STUDENTS STEP INTO THE WORLD OF ELECTROCHEMISTRY AND TINKER WITH DESIGNING DIFFERENT TYPES OF BATTERIES AND EXPERIMENTING WITH ELECTRICAL CIRCUITS. PARTICIPANTS LEARN TO USE SOLDERING IRONS, MULTI-METERS, LASER CUTTERS AND HAND TOOLS. AT THE END OF THE PROGRAM THE FINAL PROJECTS ARE PRESENTED TO THE PUBLIC AT THE SCIENCE CENTER. - PROJECT INQUIRY IS AN INNOVATIVE EIGHT-MONTH PROGRAM FOR HIGH SCHOOL SOPHOMORES THAT EXPLORES CONCEPTS IN ENGINEERING, DESIGN, TECHNOLOGY, AND ENTREPRENEURSHIP. STUDENTS LEARN HOW TO USE LAB EQUIPMENT, INVESTIGATE THE DESIGN PROCESS, AND SOLVE REAL WORLD PROBLEMS USING CUTTING-EDGE TECHNOLOGIES LIKE LASER CUTTERS AND 3D PRINTERS. USING THIS NEWFOUND KNOWLEDGE, THE PARTICIPANTS THEN WORK DIRECTLY WITH PROFESSIONAL SCIENTISTS AND ENTREPRENEURS WHO SERVE AS MENTORS FOR TEAM PROJECTS. THE SCIENCE CENTER'S STEAM PERSONNEL ALSO MANAGE AND OPERATE AN ART GALLERY SPACE ON THE SCIENCE CENTER CAMPUS THAT IS OPEN TO THE PUBLIC, KNOWN AS ESTHER KLEIN GALLERY (EKG). EXHIBITS HELD AT EKG EXPLORE INTERSECTIONS BETWEEN ART, DESIGN, SCIENCE AND TECHNOLOGY. THE PRIMARY AIM OF EKG IS TO EXAMINE NEW ART AND CONTEMPORARY ARTS PRACTICES THAT ARE INFLUENCED BY TECHNOLOGY AND THE SCIENCES, AND TO GENERATE PUBLIC DISCOURSE THROUGH THE EXHIBITION OF CREATIVE WORKS THAT COMMENT ON LIFE AND OUR ENVIRONMENT IN A DIGITAL AGE. IN 2018 EKG EXPANDED ITS ARTIST-IN-RESIDENCE PROGRAM FOCUSED ON BIOTECHNOLOGY, IN PARTNERSHIP WITH INTEGRAL MOLECULAR, A BIOTECH COMPANY AND UCITY SQUARE RESIDENT. THE "BIOART RESIDENCY" SPONSORED FOUR ARTISTS, EACH OF WHOM TOOK UP RESIDENCE AT INTEGRAL MOLECULAR OVER A THREE-MONTH PERIOD. THE GOAL OF THE PROGRAM IS TO PROVIDE ACCESS, OPPORTUNITY AND AWARENESS FOR ARTISTS TO EXPLORE THE EVER-CHANGING WORLD OF BIOTECHNOLOGY. QUORUM QUORUM IS A SCIENCE CENTER INITIATIVE THAT UNITES THE REGION'S ENTREPRENEURSHIP AND INNOVATION COMMUNITIES THROUGH A CENTRAL, NEUTRAL GATHERING SPACE AT 3675 MARKET STREET AND PROGRAMS THAT CONNECT ENTREPRENEURS TO INVESTORS AND ADVICE. AT 15,000 SQUARE FEET, THE NEWLY EXPANDED QUORUM SPACE AT 3675 MARKET STREET IS TRIPLE IN SIZE AND SPREADS OVER TWO FLOORS. THE NEW SPACE FEATURES EXPANDED DROP-IN SPACE, BREAKOUT ROOMS, SOFT SEATING PODS, AND MEETING FACILITIES WITH CAPACITY TO HOST CONFERENCES AND EVENTS FOR UP TO 300 PEOPLE. STREET-LEVEL ACCESS AND A LOBBY CAFE MAKE QUORUM MORE ACCESSIBLE AND WELCOMING TO THE INNOVATION COMMUNITY. THE NEW EXPANDED SPACE ENABLES THE SCIENCE CENTER TO EXPAND ITS PROGRAMMATIC OFFERINGS TO THE ENTREPRENEURIAL COMMUNITY, ATTRACT MORE NATIONAL CONFERENCES AND COMPANIES TO PHILADELPHIA, AND FOSTER NEW CONNECTIONS FOR INNOVATION. AN EFFORT TO SUPPORT LONG-TERM COLLABORATIVE REGIONAL ECONOMIC DEVELOPMENT, QUORUM STRENGTHENS THE REGION'S CULTURE OF TECHNOLOGY-BASED ECONOMIC DEVELOPMENT BY OFFERING PROGRAMS AND FACILITATING CONNECTIONS BETWEEN ENTREPRENEURS, INNOVATORS, FUNDERS AND RESOURCE ORGANIZATIONS, WITH THE ULTIMATE GOAL OF INNOVATION, COMPANY FORMATION AND JOB CREATION. SINCE OPENING IN JUNE 2011 80,000 PEOPLE PARTICIPATED IN 1,300 EVENTS AND PROGRAMS IN QUORUM. IN 2018, MORE THAN 12,000 PEOPLE PARTICIPATED IN 200+ QUORUM PROGRAMS AND EVENTS. VENTURE CAFE PHILADELPHIA IN NOVEMBER 2018 THE SCIENCE CENTER LAUNCHED VENTURE CAFE PHILADELPHIA. FOCUSED ON CONNECTING, EDUCATING AND COMMUNITY BUILDING, VENTURE CAFE PHILADELPHIA CONNECTS INNOVATORS AND ENTREPRENEURS WITH HIGH-IMPACT PROGRAMMING. THE SCIENCE CENTER CRAFTS AND WEAVES EACH THURSDAY GATHERING INTO A DIFFERENT SCHEDULE OF PANELS, LIGHTNING TALKS, PITCHES, OFFICE HOURS, AND WORKSHOPS EVERY WEEK, SET AMID THE BACKDROP OF GALVANIZING A COMMUNITY AND HELPING TO FOSTER VITAL BUSINESS CONNECTIONS. UNIVERSITY CITY KEYSTONE INNOVATION ZONE THE SCIENCE CENTER IS ONE OF THE FOUNDING PARTNERS AND THE FISCAL AGENT OF THE UNIVERSITY CITY KEYSTONE INNOVATION ZONE (UC KIZ), A PARTNERSHIP DESIGNED TO BUILD KNOWLEDGE-BASED ECONOMIES AND CULTIVATE ENTREPRENEURSHIP IN PENNSYLVANIA. HOME TO NUMEROUS LIFE SCIENCES AND IT STARTUPS, SEVERAL MAJOR UNIVERSITIES, NON-PROFIT RESEARCH INSTITUTES, AND RESEARCH AND TEACHING HOSPITALS, THE UC KIZ COMMUNITY HAS THE INFRASTRUCTURE AND RESOURCES THAT GROWING LIFE SCIENCES AND IT COMPANIES NEED. UC KIZ PARTNERS INCLUDE BIOADVANCE, DREXEL UNIVERSITY, THOMAS JEFFERSON UNIVERSITY, UNIVERSITY CITY SCIENCE CENTER, THE UNIVERSITY OF PENNSYLVANIA, UNIVERSITY OF THE SCIENCES AND THE WISTAR INSTITUTE. FORTY-ONE UC KIZ COMPANIES LEVERAGED A COLLECTIVE $2.5 MILLION IN TAX CREDITS VIA THE PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT IN 2018 AS PART OF THE KIZ TAX CREDIT PROGRAM. SINCE 2006, OVER $15 MILLION IN KIZ TAX CREDITS HAVE BEEN AWARDED TO OVER 100 COMPANIES IN THE UNIVERSITY CITY KIZ. FORM 990, PART III, LINE 4C, PROGRAM SERVICE ACCOMPLISHMENTS: RESEARCH PARK THE SCIENCE CENTER LEGACY CAMPUS, NOW KNOWN AS UCITY SQUARE, ENCOMPASSES 17 ACRES, 16 BUILDINGS, AND 3 MILLION SQUARE FEET ALONG FOUR BLOCKS THAT IS HOME TO OVER 100 COMPANIES EMPLOYING 10,000 PEOPLE. CURRENTLY, THE SCIENCE CENTER OWNS AND MANAGES APPROXIMATELY 1.5 MILLION SQUARE FEET OF SPACE IN SEVEN BUILDINGS, INCLUDING SPACE FOR FLEDGLING AND GROWING BUSINESSES. IN KEEPING WITH THE AGILITY OF ENTREPRENEURS, SHORT-TERM LEASES ARE AVAILABLE, WITH OPPORTUNITIES FOR GROWTH. IN 2018, THE SCIENCE CENTER AND ITS JOINT VENTURE PARTNERS OPENED OUR NEWEST OFFICE AND LAB BUILDING AT 3675 MARKET STREET, A 343,000-SQUARE-FOOT MIXED USE PROPERTY. THE ANCHOR TENANT IS CAMBRIDGE INNOVATION CENTER. FORM 990, PART VI, SECTION A, LINE 6 THE OWNERSHIP OF SHARES OF THE CORPORATION IS RESTRICTED TO ORGANIZATIONS QUALIFIED FOR EXEMPTION FROM FEDERAL INCOME TAXES UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE. FORM 990, PART VI, SECTION A, LINE 7A ANNUAL STOCKHOLDER MEETINGS: AFTER EACH ANNUAL ELECTION OF DIRECTORS, THE BOARD OF DIRECTORS MEETS FOR THE PURPOSE OF ORGANIZATION, ELECTION OF A CHAIRMAN OF THE BOARD AND OTHER OFFICERS, AND THE TRANSACTION OF OTHER BUSINESS AT THE OFFICE OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED 990 IS PRESENTED FOR REVIEW AND DISCUSSION BY THE AUDIT COMMITTEE, AND IS SUBSEQUENTLY MADE AVAILABLE TO THE ENTIRE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER AND EXEMPT EMPLOYEE IS REQUIRED TO ANNUALLY SIGN A CONFLICT OF INTEREST DISCLOSURE FORM, INDICATING THAT HE/SHE UNDERSTANDS THE POLICY AND WILL ALERT THE ORGANIZATION SHOULD A CONFLICT OCCUR. THIS PROCESS IS OVERSEEN BY THE SCIENCE CENTER'S GENERAL COUNSEL. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD HIRED SULLIVAN COTTER IN SEPTEMBER 2017 TO REVIEW CEO AND EXECUTIVE COMPENSATION AND PROVIDE BENCHMARK INFORMATION ON SALARY AND INCENTIVE COMPENSATION. AN ARRAY OF 501(C)(3) AND FOR-PROFIT BENCHMARKS WERE INCLUDED IN THE STUDY IN ORDER TO COMPARE ENTITIES AND THEIR COMPENSATION STRUCTURES THAT REPRESENTED BUSINESS AND SERVICE OPERATIONS OF A COMPARABLE NATURE. THE FINDINGS FROM THE STUDY WERE AND HAVE BEEN INCORPORATED INTO ANNUAL REVIEW AND COMPENSATION PLANNING FOR THE CEO AND HIS TEAM. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS ANNUALLY REVIEWS MANAGEMENT COMPENSATION AND APPROVES ALL CHANGES. FORM 990, PART VI, SECTION C, LINE 19 A PERSON REQUESTING A COPY OF THE GOVERNING DOCUMENTS ETC. PLACES HIS / HER REQUEST WITH THE SECRETARY OF THE UNIVERSITY CITY SCIENCE CENTER. UPON RECEIPT OF THE REQUEST, THE REQUESTED INFORMATION IS MADE AVAILABLE TO THE INTERESTED PARTY. FORM 990, PART XI, LINE 9: SCEC PRIOR YEAR NET ASSETS -2,884,236. RPI PRIOR YEAR NET ASSETS 2,749,929. P1V PRIOR YEAR NET ASSETS -389,299. PORT PRIOR YEAR NET ASSETS 2,779,936. WHALEY PRIOR YEAR NET ASSETS -39,997. 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