2016-11-15T11:19:27-06:00 2015-12-31 381357951 PLANTE & MORAN PLLC PO BOX 307 SOUTHFIELD MI 480370307 990 2015-01-01 412061387 WAYNE STATE UNIVERSITY RESEARCH AND TECHNOLOGY PARK IN THE CITY OF DETROIT WAYN 3138871639 440 BURROUGHS DETROIT MI 48202 EDWARD B STAEBLER PRESIDENT & CEO 3138871639 2016-11-10 1 TINA PETERS P00904574 2483522500 2015 2017-02-10 21:41:12Z TECHTOWN TECHTOWN DETROIT EDWARD B STAEBLER 440 BURROUGHS DETROIT MI 48202 1863953 0 X WWW.TECHTOWNDETROIT.ORG X 2000 MI TECHTOWN IS DETROIT'S BUSINESS INNOVATION HUB. AS THE CITY'S MOST ESTABLISHED BUSINESS ACCELERATOR AND INCUBATOR, WE PROVIDE A POWERFUL CONNECTION TO A BROAD NETWORK OF RESOURCES, CATALYZING ENTIRE COMMUNITIES OF ENTREPRENEURS BEST POISED TO ENERGIZE THE LOCAL ECONOMY. TECHTOWN IS A 501(C)(3) NONPROFIT AND IS LOCATED WITHIN THE WOODWARD TECHNOLOGY CORRIDOR SMARTZONE. 33 32 29 100 0 0 2314599 1844181 18484 19772 0 0 0 0 2333083 1863953 54322 42952 0 0 1433609 1030061 0 0 86298 1289685 1263285 2777616 2336298 -444533 -472345 12810954 13177192 3279468 3076725 9531486 10100467 X TO ACCELERATE ECONOMIC GROWTH IN DETROIT BY GROWING STRONG BUSINESSES AND DRIVING REGIONAL COLLABORATION. 0 0 1711637 42952 19772 BUSINESS UNITS AND PROGRAMSLABS - TECHNOLOGY-BASED PROGRAMMING LABS VENTURE ACCELERATOR: HIGHLY COMPETITIVE, BOOT-CAMP STYLE PROGRAM HELPS SHOW ENTREPRENEURS HOW TO TURN THEIR EARLY STAGE TECHNOLOGY-BASED STARTUPS INTO SUSTAINABLE, MARKET-READY BUSINESSESDETROIT TECHNOLOGY EXCHANGE (DTX): PROGRAMMATIC PARTNERSHIP DESIGNED TO RECRUIT AND GROOM TALENT FOR TECH ENTREPRENEURSHIP AND CONVERT INNOVATIVE TECHNOLOGIES INTO DETROIT STARTUPS. PARTNERS: TECHTOWN, BIZDOM, INVEST DETROIT AND THE DETROIT CREATIVE CORRIDOR CENTER.TECHNOLOGY COMMERCIALIZATION: TECHTOWN EVALUATES AND ROADMAPS THE COMMERCIALIZATION POTENTIAL OF UNIVERSITY OR HEALTH CARE SYSTEM-DEVELOPED TECHNOLOGIES; HIGH POTENTIAL TECHNOLOGIES TRANSITION INTO TECHTOWN PROGRAMS.START-UP INCUBATION: TECHTOWN'S INCUBATION PROGRAM CUSTOMIZES SUPPORT BASED ON EACH TECH STARTUP'S UNIQUE BUSINESS NEEDS. STARTUPS HAVE A BUSINESS MODEL THAT'S BASED ON DEMONSTRATED CUSTOMER NEED AND A TECHNOLOGY IN THE EARLY PROTOTYPE STAGE.BLOCKS - PLACE-BASED PROGRAMMINGBLOCKS RETAIL BOOT CAMP: PREPARES SERIOUS ENTREPRENEURS WITH STRONG RETAIL CONCEPTS FOR THE SUCCESSFUL LAUNCH OF THEIR BRICK-AND-MORTAR BUSINESS IN A CORE DETROIT COMMERCIAL DISTRICTSWOT CITY: COMBINES ECONOMIC DEVELOPMENT AND START-UP ACCELERATION STRATEGIES TO TRANSFORM DETROIT'S HISTORICALLY UNDERSERVED NEIGHBORHOODS INTO VIBRANT AND DENSE COMMUNITIESSPACE - REAL ESTATE PROGRAMMINGOFFICE AND LAB SPACE: COMMERCIAL REAL ESTATE FOR INNOVATIVE DETROIT BUSINESSESJUNCTION440: CO-WORKING COMMUNITY OFFERING DETROIT ENTREPRENEURS AN AFFORDABLE, FLEXIBLE AND COLLABORATIVE WORK ENVIRONMENTMEETING AND EVENT SPACE: RECENTLY RENOVATED FIRST FLOOR INCLUDES EVENT SPACE WITH SEATING UP TO 180; MEETING, CONFERENCE AND TRAINING ROOMS; OPEN, GALLEY-STYLE KITCHEN WITH CAFE SEATING 1711637 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 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 0 1 1 1 0 0 1 36 0 1 29 1 0 0 0 0 0 0 0 0 0 0 X 33 32 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 1 0 0 MI X EDWARD B STAEBLER 3138795249 440 BURROUGHS DETROIT MI 48202 A PAUL SCHAAP PHD BOARD MEMBER 1.00 0.00 X 0 0 0 BRIAN HOLDWICK BOARD MEMBER 1.00 0.00 X 0 0 0 CARLA WALKER-MILLER BOARD MEMBER 1.00 0.00 X 0 0 0 CHRISTOPHER GRAUNSTADT BOARD MEMBER 1.00 0.00 X 0 0 0 CHRISTOPHER RIZIK BOARD MEMBER 1.00 0.00 X 0 0 0 DANA THOMPSON BOARD MEMBER 1.00 0.00 X 0 0 0 DAVID BLASZKIEWICZ BOARD MEMBER 1.00 0.10 X 0 0 0 DAVID EGNER BOARD MEMBER 1.00 0.00 X 0 0 0 DR FARSHAD FOTOUHI BOARD MEMBER 1.00 0.00 X 0 0 0 DR THOMAS E ANDERSON BOARD MEMBER 1.00 0.00 X 0 0 0 EDWARD STAEBLER PRESIDENT & CEO 16.00 24.00 X X 69500 0 22440 FREDRICK MOLNAR BOARD MEMBER 1.00 0.00 X 0 0 0 GABE LELAND BOARD MEMBER 1.00 0.00 X 0 0 0 JACALYN GOFORTH BOARD MEMBER 1.00 0.00 X 0 0 0 JEAN REDFIELD BOARD MEMBER 1.00 0.00 X 0 0 0 JED HOWBURT BOARD MEMBER 1.00 0.00 X 0 0 0 KATE BORDINE BOARD MEMBER 1.00 0.00 X 0 0 0 LIZABETH ARDISANA BOARD MEMBER 1.00 0.00 X 0 0 0 M ROY WILSON CHAIR 1.00 0.00 X X 0 0 0 MARK COTICCHIA BOARD MEMBER 1.00 0.00 X 0 0 0 MARK SCHWARTZ BOARD MEMBER 1.00 0.00 X 0 0 0 MARTIN DOBER BOARD MEMBER 1.00 0.00 X 0 0 0 PAUL MASSARON BOARD MEMBER 1.00 0.00 X 0 0 0 PAULA SORELL BOARD MEMBER 1.00 0.00 X 0 0 0 ROBERT CHARLES BOARD MEMBER 1.00 0.00 X 0 0 0 ROBERT FORSYTHE BOARD MEMBER 1.00 0.00 X 0 0 0 SAUNTEEL JENKINS BOARD MEMBER 1.00 0.00 X 0 0 0 STEPHEN LANIER VICE CHAIR/SECRETARY 1.00 0.00 X 0 0 0 STEVE AMBROSE BOARD MEMBER 1.00 0.00 X 0 0 0 SUSAN MOSEY BOARD MEMBER 1.00 0.00 X 0 0 0 TED SERBINSKI BOARD MEMBER 1.00 0.00 X 0 0 0 TONYA MATTHEWS BOARD MEMBER 1.00 0.00 X 0 0 0 WILLIAM DECATUR BOARD MEMBER 1.00 0.00 X 0 0 0 DIANA GOODE CHIEF OPERATING OFFICER 24.00 16.00 X 62708 0 15453 LESLIE SMITH PRESIDENT & CEO 36.00 4.00 X 62542 0 7762 194750 0 45655 0 0 0 1 0 747493 1096688 1844181 ADMINISTRATIVE INCOME 900099 18907 18907 ENTREPRENEUR LOAN INT. 900099 865 865 19772 1863953 19772 0 0 X 42952 42952 230754 45157 178567 7030 664171 564759 62720 36692 70223 65688 4535 64913 45439 16228 3246 15404 11553 3851 14340 10755 3585 537219 402914 134305 95604 62143 33461 49847 27738 22109 32128 24096 8032 149746 147071 2177 498 94993 47497 47496 93138 93138 36929 36929 5076 5076 BAD DEBT EXPENSE 100105 100105 BUSINESS ACCELERATOR EX 30396 15198 15198 SUBSCRIPTIONS & PUBS. 8360 5434 2090 836 2336298 1711637 538363 86298 333252 485458 29478 97546 14189441 13428653 102459 576 6634 10872 403480 365027 75382 38453 -1925692 -884366 12810954 13177192 152871 237102 3381 63582 82144 37112 3041072 2738929 3279468 3076725 X 9178193 9815395 353293 285072 9531486 10100467 12810954 13177192 -472345 1041326 0 X X 0 1 X 1 0 X 9244195 3818401 3372720 2314599 1844181 20594096 21336 35177 30700 18484 19772 125469 9265531 3853578 3403420 2333083 1863953 20719565 900000 12000 25882 937882 0 900000 12000 25882 937882 19781683 59 1 60 80389 80389 80448 1 80449 2087 864 1728 4679 9348066 3854443 3405148 2333083 1863953 20804693 0.95080 0.89980 0.00390 0.01010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 363555 328060 35495 39925 36967 2958 38453 X PART IV, LINE 2B: THE ORGANIZATION IS THE FISCAL SPONSOR OF TWO SMALLER ORGANIZATIONS AND HOLDS THEIR FUNDS ON THEIR BEHALF. PART X, LINE 2: TECHTOWN IS EXEMPT FROM INCOME TAX UNDER PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). NO PROVISION HAS BEEN MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INCOME TAXES FOR TOD AND TOM AS THESE ENTITIES ARE TAXED AS PARTNERSHIPS AND, AS SUCH, ALL INCOME AND EXPENSES ARE ALLOCATED TO THE MEMBERS FOR INCLUSION ON THEIR RESPECTIVE INCOME TAX RETURNS. TOH IS A C-CORPORATION AND IS SUBJECT TO TAXES ON ITS INCOME. THERE ARE NO SIGNIFICANT TIMING DIFFERENCES. TOH HAS NET OPERATING LOSS CARRYFORWARDS OF APPROXIMATELY $4,515,000 EXPIRING IN 2025 THROUGH 2034. TOH HAS RECORDED A VALUATION ALLOWANCE FOR THE ENTIRE AMOUNT OF THE DEFERRED TAX ASSET RELATED TO THE LOSS CARRYFORWARDS. NO DEFERRED TAX ASSETS OR LIABILITIES ARE RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS FOR FEDERAL INCOME TAXES. THE ORGANIZATION BELIEVES ITS FEDERAL TAX RETURNS FOR THE YEARS PRIOR TO DECEMBER 31, 2012 ARE NO LONGER SUBJECT TO EXAMINATION. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2015 AND 2014, 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. 0 DETROIT MICRO-ENTERPRISE FUND 440 BURROUGHS ST 123 DETROIT MI 48202 202593806 501(C)(3) 10000 TO SUPPORT ECONOMIC DEVELOPMENT LAUGHTER IN THE SUN LLC - HOUSE OF PURE VIN 1433 WOODWARD AVE DETROIT MI 48226 471823186 10000 TO SUPPORT ECONOMIC DEVELOPMENT 1 1 X X X 0 0 0 0 0 0 0 0 0 EDWARD STAEBLER PRESIDENT & CEO 69500 0 0 0 0 0 0 0 22440 0 91940 0 0 0 DIANA GOODE CHIEF OPERATING OFFICER 62708 0 0 0 0 0 0 0 15453 0 78161 0 0 0 FORM 990, PART VII, SECTION A, LINE 5: DIANA GOODE AND EDWARD STAEBLER WERE COMPENSATED BY WAYNE STATE UNIVERSITY FOR THEIR ROLE AS OFFICERS OF WAYNE STATE UNIVERSITY RESEARCH AND TECHNOLOGY PARK IN THE CITY OF DETROIT. SEE SCHEDULE J PART II FOR THEIR COMPENSATION DETAIL. FORM 990, PART VI, SECTION A, LINE 7A WAYNE STATE UNIVERSITY (WSU) APPOINTS THE CHAIRMAN OF THE BOARD AND THE WSU BOARD OF GOVERNORS APPOINTS TWO MEMBERS OF THE BOARD OF DIRECTORS. NO OTHER PARTIES HAVE THE RIGHT TO APPOINT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 WILL BE REVIEWED BY THE PRESIDENT/CEO AND MANAGING DIRECTOR OF OPERATIONS PRIOR TO FILING. NO FORMAL BOARD REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURES MADE BY OFFICERS, DIRECTORS, OR KEY EMPLOYEES WOULD BE REVIEWED BY SENIOR LEADERSHIP OF THE ORGANIZATION FOR APPROPRIATE ACTION. NO SUCH CONFLICTS HAVE BEEN DISCLOSED DURING THE PERIOD OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 15A FOR THE CEO COMPENSATION FOR 2015, THE WSU PRESIDENT (CHAIRMAN OF THE BOARD) AND HIS STAFF REVIEWED COMPARABILITY DATA FOR SIMILAR POSITIONS AND PRESENTED WRITTEN DOCUMENTATION OF ITS RECOMMENDATIONS TO THE ORGANIZATION'S GOVERNANCE COMMITTEE FOR FINAL DECISION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT AVAILABLE FOR PUBLIC INSPECTION. FORM 990, PART IX, LINE 11G MICRO ENTERPRISES PROGRAM FACILITATORS: PROGRAM SERVICE EXPENSES 3,520. MANAGEMENT AND GENERAL EXPENSES 1,173. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,693. CONTRACT EMPLOYEES: PROGRAM SERVICE EXPENSES 112,988. MANAGEMENT AND GENERAL EXPENSES 37,663. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 150,651. ENTREPRENEUR-IN-RESIDENCE & FELLOWSHIP PROGRAM MENTORS: PROGRAM SERVICE EXPENSES 210,000. MANAGEMENT AND GENERAL EXPENSES 70,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 280,000. ENTREPRENEUR PROGRAM MENTORS: PROGRAM SERVICE EXPENSES 72,656. MANAGEMENT AND GENERAL EXPENSES 24,219. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 96,875. SPEAKER SERIES: PROGRAM SERVICE EXPENSES 3,750. MANAGEMENT AND GENERAL EXPENSES 1,250. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,000. FORM 990, PART XII, LINE 2C: THE AUDIT PROCESS HAS NOT CHANGED FROM PREVIOUS YEARS. TECHONE DEVELOPMENT LLC 440 BURROUGHS DETROIT MI 48202 201062523 LANDLORD MI N/A TECHONE HOLDING CORPORATION 440 BURROUGHS DETROIT MI 48202 201062426 MASTER SUB-TENANT MI WAYNE STATE UNIVERSITY RESEARCH AND TECHNOLOGY PARK IN THE CITY OF DETROIT C 1328303 23539085 1.00000 1 1 0 0 1 1 0 0 0 0 0 1 0 0 1 1 1 1 1 1 TECHONE HOLDING CORPORATION K 122220 CASH TRANSACTION TECHONE HOLDING CORPORATION O 201600 CASH TRANSACTION TECHONE HOLDING CORPORATION P 286000 CASH TRANSACTION