2019-05-15T13:49:28-05:00 2018-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2017-07-01 592959590 USF RESEARCH FOUNDATION INC UNIV 8139741082 3802 SPECTRUM BOULEVARD NO 100 TAMPA FL 33612 DR PAUL R SANBERG PRESIDENT 8139741082 2019-05-10 1 AMANDA ADAMS P00748038 7043771678 38.142.98.34 2019-05-10 08:52:03 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 18694F53AD11E15FFCEA276DE93F63B2E746D691 2017 2019-02-21 02:37:17Z DR PAUL R SANBERG 3702 SPECTRUM BLVD SUITE 175 TAMPA FL 33612 15554134 0 X WWW.RESEARCH.USF.EDU/RF X 1989 FL TO PROMOTE, ENCOURAGE AND ENHANCE RESEARCH ACTIVITIES AT THE UNIVERSITY OF SOUTH FLORIDA. 16 8 0 8 -2054 -3554 0 0 12203215 13893387 1570091 1662801 -34713 -2054 13738593 15554134 0 0 0 0 0 0 0 0 0 10460829 11707460 10460829 11707460 3277764 3846674 87589641 91082981 30365714 28528992 57223927 62553989 X TO PROMOTE, ENCOURAGE AND ENHANCE RESEARCH ACTIVITIES AT THE UNIVERSITY OF SOUTH FLORIDA. 0 0 6377269 7748994 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. 2666990 3727562 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. 325524 542320 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. 1383587 1874511 THE TAMPA BAY TECHNOLOGY INCUBATOR (TBTI) IS ONE VEHICLE THROUGH WHICH USF CONNECT GROWS SUCCESSFUL COMPANIES. TBTI SUPPORTS TECHNOLOGY RESEARCH AS A CATALYST FOR ECONOMIC DEVELOPMENT AND ADVOCATES THE CREATION AND DEVELOPMENT OF FACILITIES FOR HIGH-TECHNOLOGY COMPANIES AND RELATED SUPPORT FUNCTIONS.ONE WAY TBTI IS ABLE TO ASSIST IS BY PROVIDING ACCESS TO CRITICAL COSTLY RESEARCH EQUIPMENT. MANY COMPANIES ORIGINATE IN THE COMMUNITY AND SEEK OUR SUPPORT TO EVOLVE THEIR CONCEPTS TO COMMERCIALIZATION. 1383587 1874511 10753370 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 109 0 1 0 1 1 0 0 0 0 0 0 0 0 0 X 16 8 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 0 0 1 0 FL X X X DR PAUL R SANBERG PHD DSC 8139741082 3802 SPECTRUM BLVD SUITE 100 TAMPA FL 33612 PAUL R SANBERG PRESIDENT & DIRECTOR 15.00 25.00 X X 0 657597 46986 NICK TRIVUNOVICH TREASURER & DIRECTOR 5.00 35.00 X X 0 255146 40861 NORMA ALCANTAR DIRECTOR 1.00 39.00 X 0 135756 23344 CHARLES BAUMANN DIRECTOR 1.00 0.00 X 0 0 0 SEBASTIAN DEWHURST DIRECTOR 1.00 0.00 X 0 0 0 GENE ENGLE DIRECTOR 1.00 0.00 X 0 0 0 ROBERT D FRISINA DIRECTOR 1.00 39.00 X 0 275181 41491 ROBERT GARCIA DIRECTOR 1.00 0.00 X 0 0 0 JEFFREY HACKMAN DIRECTOR 1.00 0.00 X 0 0 0 MOEZ LIMAYEN DIRECTOR 1.00 39.00 X 0 400327 36575 CHARLES LOCKWOOD DIRECTOR 1.00 39.00 X 0 286035 44081 JOHN LONG DIRECTOR 1.00 39.00 X 0 341283 62537 MATTHEW LOWELL DIRECTOR 1.00 0.00 X 0 0 0 ISRAEL MOREJON DIRECTOR 1.00 0.00 X 0 0 0 LINDA O'ROURKE DIRECTOR 1.00 0.00 X 0 0 0 HARRY VENEZIA DIRECTOR 1.00 0.00 X 0 0 0 RALPH WILCOX DIRECTOR 1.00 39.00 X 0 433137 31587 LEE WRIGHT DIRECTOR 1.00 0.00 X 0 0 0 ALLISON MADDEN SECRETARY 35.00 5.00 X 0 127566 30230 PATRICIA GAMBLE CFO 40.00 0.00 X 0 149342 22819 0 3061370 380511 2 0 1 0 ED TAYLOR CONSTRUCTION SOUTH INC 2713 N FALKENBURG RD STE A TAMPA FL 33619 CONSTRUCTION MANAGER 1171134 MASTER MAINTENANCE INC PO BOX 272758 TAMPA FL 33688 CLEANING AND JANITORIAL 246790 THE DAVEY TREE EXPERT COMPANY PO BOX 94532 CLEVELAND OH 44101 LANDSCAPING 226629 FRIEDRICH WATKINS OF TAMPA 5521 WEST CYPRESS STREET STE 104 TAMPA FL 33607 CONSTRUCTION MANAGER 197100 SIEMENS INDUSTRY INC PO BOX 2134 CAROL STREAM IL 60132 CONSTRUCTION MANAGER 165465 10 PROPERTY RENTAL REVENUE 900099 7441994 7441994 ROYALTIES/LICENSES/OPTION FEES 900099 4034562 4034562 INCUBATOR REVENUE 900099 1874511 1874511 CONTRACTS & GRANTS 900099 325524 325524 ADMINISTRATIVE FEES 900099 216796 216796 13893387 1662801 1662801 PARTNERSHIP INVESTMENT INCOME 900099 -2054 -2054 -2054 15554134 13893387 -2054 1662801 839 839 74910 74910 91089 91089 4203 4203 338339 313289 25050 1552605 1552605 2768446 2729987 38459 16126 15877 249 686889 686889 2906958 2906898 60 256289 245694 10595 SHARED SERVICES 1574875 770108 804767 TECHNOLOGY COSTS 1343244 1343244 BAD DEBT EXPENSE 65343 65343 ADMINISTRATIVE FEES 24085 24085 3220 3220 11707460 10753370 954090 0 3884116 4977490 1025000 1100000 1054726 1518184 157500 52269 91531 67860438 27038078 42887598 40822360 8014640 9454751 22506013 25089351 667606 588050 7341066 7225154 156607 58610 87589641 91082981 1396309 1677338 329716 166514 2900000 2000000 6618640 7317014 17565000 16875000 1556049 493126 30365714 28528992 X 57223927 62553989 57223927 62553989 87589641 91082981 X 3846674 1481334 2054 X 0 1 X 1 0 X X 1 UNIVERSITY OF SOUTH FLORIDA 593102112 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 X 8739632 8739632 55580970 24072718 31508252 3357918 2965360 392558 181918 181918 40822360 USF INVESTMENT POOL 25089351 F 25089351 DUE TO UNIVERSITY OF SOUTH FLORIDA 434516 INTEREST RATE SWAP LIABILITY 58610 493126 17037522 1481334 1481334 15556188 -2054 -2054 15554134 11707460 0 11707460 0 11707460 PART IV, LINE 2B: IN ACCORDANCE WITH AGREEMENTS, THE RESEARCH FOUNDATION HAS CUSTODIAL RESPONSIBILITY FOR POST-AWARD MANAGEMENT OF CERTAIN NON-CLINICAL CONTRACTS AND GRANTS ON BEHALF OF THE UNIVERSITY. THIS INCLUDES PROCESSING SPONSOR INVOICING AND RELATED EXPENDITURES FOR THE AGREEMENTS. BY AGREEMENT WITH THE UNIVERSITY, THE RESEARCH FOUNDATION HAS CUSTODIAL RESPONSIBILITY OF PROCEEDS RECEIVED FROM SALES OF GRAPHICSTUDIO ARTWORK AND PROCESSES DISBURSEMENT OF GRAPHICSTUDIO'S EXPENDITURES. INCLUDED IN THE CUSTODIAL ACCOUNT LIABILITY ARE RESEARCH FUNDS HELD ON BEHALF OF UNIVERSITY FACULTY, DEPARTMENT, AND COLLEGES THAT WILL BE UTILIZED TO SUPPORT THEIR RESEARCH AND EDUCATION ACTIVITIES. THE RESEARCH FOUNDATION DISTRIBUTES ROYALTIES FROM INTELLECTUAL PROPERTY NET REVENUE TO INVENTORS, THEIR DEPARTMENTS AND TO COLLEGES' RESEARCH FUNDS. PERIODICALLY, AS A DIRECT SERVICE ORGANIZATION OF THE UNIVERSITY, THE RESEARCH FOUNDATION ASSUMES RESPONSIBILITY FOR VARIOUS UNIVERSITY INITIATIVES. PART XI, LINE 4B - OTHER ADJUSTMENTS: UBTI FROM K-1S NOT RECORDED ON BOOKS -2,054. 0 0 0 0 0 0 0 0 0 PAUL R SANBERG PRESIDENT & DIRECTOR 0 505977 0 150000 0 1620 0 24314 0 22672 0 704583 0 0 NICK TRIVUNOVICH TREASURER & DIRECTOR 0 252126 0 2000 0 1020 0 20847 0 20014 0 296007 0 0 NORMA ALCANTAR DIRECTOR 0 135756 0 0 0 0 0 11004 0 12340 0 159100 0 0 ROBERT D FRISINA DIRECTOR 0 275181 0 0 0 0 0 21056 0 20435 0 316672 0 0 MOEZ LIMAYEN DIRECTOR 0 397587 0 0 0 2740 0 22788 0 13787 0 436902 0 0 CHARLES LOCKWOOD DIRECTOR 0 286035 0 0 0 0 0 23186 0 20895 0 330116 0 0 JOHN LONG DIRECTOR 0 323913 0 16350 0 1020 0 22174 0 40363 0 403820 0 0 RALPH WILCOX DIRECTOR 0 422791 0 0 0 10346 0 22128 0 9459 0 464724 0 0 ALLISON MADDEN SECRETARY 0 126546 0 0 0 1020 0 10644 0 19586 0 157796 0 0 PATRICIA GAMBLE CFO 0 149342 0 0 0 0 0 12483 0 10336 0 172161 0 0 PART I, LINE 3 THE 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 FOUNDATION'S PRESIDENT, THE UNIVERSITY USED A WRITTEN EMPLOYMENT CONTRACT. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMMITTEE (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 AUDIT COMMITTEE REVIEWS AND RECOMMENDS ACCEPTANCE OF THE FORM 990 TO THE BOARD OF DIRECTORS PRIOR TO ITS SUBMISSION. ALSO, A COPY OF THE FORM 990 IS SENT TO THE FULL BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY REQUIRES ANNUAL DISCLOSURE, 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 ORGANIZATION A DISCLOSURE STATEMENT AFFIRMING THAT SUCH PERSON (A) HAS RECEIVED A COPY OF THE ORGANIZATION'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 ORGANIZATION 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 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 USF 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 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 USF RESEARCH FOUNDATION WEBSITE. FORM 990, PART XI, LINE 9: UBTI FROM K-1S NOT RECORDED ON BOOKS 2,054. 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 0 1 0 0 0 0 0 0 1 0 1 0 0 1 0 1 1 0