2015-06-08T07:11:28-05:00 2014-12-31 131639826 EISNERAMPER LLP 101 WEST AVENUE PO BOX 458 JENKINTOWN PA 190460458 990 2014-01-01 231645908 UNIVERSITY CITY SCIENCE CENTER UNIV 2159666272 3711 MARKET STREET 8TH FLOOR PHILADELPHIA PA 19104 STEPHEN S TANG PRESIDENT 2159666272 2015-05-26 1 STEVEN GLUECK P00856557 2158818800 2014 2016-02-25 16:41:14Z STEPHEN S TANG 3711 MARKET STREET SUITE 800 PHILADELPHIA PA 19104 26219764 0 X WWW.SCIENCECENTER.ORG X 1963 PA TO ACCELERATE TECHNOLOGY COMMERCIALIZATION IN THE GREATER PHILADELPHIA REGION. 26 25 71 0 0 0 1233705 2332245 18757011 21368957 122563 107151 -77214 0 20036065 23808353 442759 556969 0 0 4687447 4815629 0 0 756740 16622978 17932958 21753184 23305556 -1717119 502797 85899930 84453970 73047995 71388570 12851935 13065400 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 SCIENCE CENTER CAMPUS IN UNIVERSITY CITY. 0 0 1854065 1569292 SEE DETAIL SCHEDULE O NARRATIVE 1513604 64079 SEE DETAIL SCHEDULE O NARRATIVE 14121606 19233825 SEE DETAIL SCHEDULE O NARRATIVE 999229 556969 501761 QED PROOF OF CONCEPT PROGRAMIN 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 FUNDING AND BUSINESS DEVELOPMENT SUPPORT FOR ACADEMIC RESEARCHERS THROUGHOUT GREATER PHILADELPHIA 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 WILL ULTIMATELY 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 REGIONAL 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 HTTP://SCIENCECENTER.ORG/PROGRAMS/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. PHASE 1 VENTURES (P1V)P1V IS A TECHNOLOGY ACCELERATOR FOR NEW BUSINESS FORMATION AND GROWTH. FOR ACADEMIC INSTITUTIONS SEEKING TO COMMERCIALIZE TECHNOLOGIES THROUGH NEW STARTUPS, P1V IS A TURNKEY APPROACH TO THE MARKET-DRIVEN CREATION AND DEVELOPMENT OF NEW INVESTIBLE COMPANIES. P1V PROVIDES STRATEGIC FUNDING; INDEPENDENT PROVEN MANAGEMENT, CORPORATE STRUCTURE AND RESOURCES THAT AVOID INSTITUTIONAL CONFLICT OF INTEREST; AND CONNECTIONS TO NETWORKS OF ENTREPRENEURS, INVESTORS, AND INDUSTRY PARTNERS. TECHNOLOGIES WITH COMMERCIAL PROMISE ARE SELECTED AND NURTURED FOR THE PREPARATION OF COMPETITIVE GRANT APPLICATIONS. PROJECTS THAT SECURE SBIR/STTR FUNDING THROUGH P1V ARE ELIGIBLE FOR ADDITIONAL SUPPORT AND SERVICES, INCLUDING SUPPLEMENTARY FUNDING, MANAGEMENT AND ADVISORY EXPERTISE, AND PHYSICAL SPACE. THE GOAL FOR EACH OF THESE "PHASE I" PROJECTS IS TO COMPLETE RESEARCH MILESTONES, VALIDATE MARKET OPPORTUNITIES, AND PREPARE AND SUBMIT A COMPETITIVE "PHASE II" SBIR/STTR APPLICATION. P1V IS A MANAGED, STANDARDIZED, MULTI-INSTITUTIONAL PROCESS THAT WILL LAUNCH NEW COMPANIES IN A COST-EFFICIENT MANNER, LEVERAGING FEDERAL SBIR/STTR FUNDING. P1V WILL TEST THE SCIENTIFIC AND MARKET FEASIBILITY OF TECHNOLOGIES FOR NEW COMPANY FORMATION AND LAUNCH, THEREBY ENHANCING THE ABILITY OF THESE PROJECTS TO ATTRACT GRANTS AND PRIVATE SECTOR INVESTMENT. P1V WILL PROVIDE ACCESS TO STRATEGIC FUNDING; INDEPENDENT MANAGEMENT, CORPORATE STRUCTURE AND RESOURCES THAT AVOID INSTITUTIONAL CONFLICTS OF INTEREST; PROVEN EXPERTISE IN EARLY PRODUCT DEVELOPMENT AND PROJECT MANAGEMENT; AND CONNECTIONS TO NETWORKS OF ENTREPRENEURS, INVESTORS, AND INDUSTRY PARTNERS.P1V IS BEING LAUNCHED AS A PILOT WITH FUNDING FROM THE US ECONOMIC DEVELOPMENT ADMINISTRATION, THE SCIENCE CENTER, ACADEMIC PARTNER INSTITUTIONS, AND OTHERS. THROUGH P1V, THE SCIENCE CENTER WILL CAPITALIZE ON AND EXPAND ITS DEEP RELATIONSHIPS WITH UNIVERSITIES AND HEALTHCARE INSTITUTIONS THROUGHOUT THE TRI-STATE GREATER PHILADELPHIA AREA AND BEYOND, IN ORDER TO FACILITATE MORE (AND BETTER) START-UP COMPANY FORMATION THAT WILL ULTIMATELY LEAD TO ECONOMIC GROWTH AND JOB CREATION. AS A PUBLIC-PRIVATE PARTNERSHIP, P1V WILL BE ECONOMICALLY VIABLE BECAUSE IT WILL LEVERAGE SBIR/STTR FUNDING AND AGGREGATE RESOURCES THAT CAN BE SHARED AMONG SEVERAL PROJECTS, CREATING ECONOMIES OF SCALE. AS A COLLABORATIVE PLATFORM, P1V WILL PROVIDE GREATER OPPORTUNITIES FOR INVENTORS, INSTITUTIONS, ENTREPRENEURS AND INVESTORS TO FORM AND GROW SPINOUT COMPANIES AROUND EARLY-STAGE TECHNOLOGIES WITH HIGH COMMERCIAL POTENTIAL.THE PORT BUSINESS INCUBATOR AT THE HEART OF THE SCIENCE CENTER LIES THE PORT BUSINESS INCUBATOR, WHICH 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 CREATED MORE THAN 15,000 JOBS THAT REMAIN IN THE GREATER PHILADELPHIA REGION TODAY AND CONTRIBUTE MORE THAN $9 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 PRESTIGIOUS 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. THIS MAKES THE PORT ONE OF THE MOST FLEXIBLE INCUBATOR FACILITIES IN THE REGION.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. SEE CONTINUATION ON SCHEDULE "O" 999229 556969 501761 18488504 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 0 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 75 0 1 71 1 0 0 0 0 0 0 0 0 X 26 25 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA NJ NY MD CA MA FL GA DC X UNIVERSITY CITY SCIENCE CENTER 2159666000 3711 MARKET STREET STE 800 PHILADELPHIA PA 19104 STEPHEN TANG PRESIDENT AND CEO 40.00 X X 589805 0 42910 MAXINE BALLEN BOARD MEMBER 1.00 X 0 0 0 CRAIG R CARNAROLI BOARD MEMBER - CHAIRMAN 1.00 X X 0 0 0 ERNEST J DIANASTASIS BOARD MEMBER 0.30 X 0 0 0 MICHAEL A DIPIANO BOARD MEMBER - VICE CHAIRM 1.00 X X 0 0 0 GLEN N GAULTON BOARD MEMBER 1.00 X 0 0 0 PHILIP R JOHNSON BOARD MEMBER 0.30 X 0 0 0 RUSSEL E KAUFMAN BOARD MEMBER 0.30 X 0 0 0 KENNETH L KRING BOARD MEMBER 1.00 X 0 0 0 TARA L WEINER BOARD MEMBER 0.30 X 0 0 0 DAVID R KING BOARD MEMBER 0.30 X 0 0 0 CARL KOPFINGER BOARD MEMBER 1.00 X 0 0 0 KENNETH J BLANK BOARD MEMBER - VICE CHAIRM 1.00 X X 0 0 0 CHRISTOPHER M CASHMAN BOARD MEMBER 0.30 X 0 0 0 KATHERINE D CROTHALL BOARD MEMBER 0.30 X 0 0 0 STEVEN J FLUHARTY BOARD MEMBER 0.30 X 0 0 0 JANE H HOLLINGSWORTH BOARD MEMBER 0.30 X 0 0 0 OSAGIE O IMASOGIE BOARD MEMBER 0.30 X 0 0 0 PAUL TOUHEY BOARD MEMBER 0.30 X 0 0 0 J LARRY JAMESON BOARD MEMBER 0.30 X 0 0 0 HELEN F GILES-GEE PHD BOARD MEMBER 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 STEPHEN SPINELLI JR PHD BOARD MEMBER 0.30 X 0 0 0 KERRY BENSON BOARD MEMBER 0.30 X 0 0 0 STEPHEN ZARRILLI BOARD MEMBER 0.30 X 0 0 0 DEBORAH CRAWFORD BOARD MEMBER (THROUGH FALL 2014)/ 0.30 X 0 0 0 ROBERT MARCANTUONO VP OF ACCOUNTING, TREASURE 20.00 20.00 X 65918 65918 22647 SAUL BEHAR VP & GENERAL COUNSEL, SECR 40.00 X 311937 0 50050 MONICA CAWVEY VP OF DEVELOPMENT 40.00 X 186071 0 15568 CURTIS HESS SENIOR VP REAL ESTATE 10.00 30.00 X 83625 250876 54062 JEANNE MELL VP MARKETING & COMMUNICATI 40.00 X 207529 0 37809 CHRISTOPHER LAING VP OF SCIENCE & TECHNOLOGY 40.00 X 216071 0 28928 MARY ROBERTSON SENIOR PROPERTY MANAGER 1.00 40.00 X 0 135571 35847 RICHARD SOUTHERLAND DIRECTOR OF CONSTRUCTION 40.00 X 0 106342 17996 THOMAS GREENWOOD TERMED 123113 FORMER VP OF ACCOUNTING, TREASURER 20.00 20.00 X 19125 19125 7491 1680081 577832 313308 5 1 1 0 INTECH CONSTRUCTION 3001 MARKET STREET PHILADELPHIA PA 19104 CONSTRUCTION SERVICES 1663788 GCA SERVICE GROUP PO BOX 643823 PITTSBURGH PA 15264 JANITORIAL SERVICES 935618 ALLIED BARTON PO BOX 828854 PHILADELPHIA PA 19182 SECURITY SERVICES 401336 LIMBACH COMPANY 175 TITUS AVE SUITE 100 WARRINGTON PHILADLEPHIA PA 19182 HVAC CONTRACT 257121 LAZ PARKING 15 LEWIS STREET 5TH FLOOR HARTFORD CT 06103 PARKING SERVICES 203925 10 677418 1654827 2332245 RENTAL INCOME FROM EXEMPT-PURPOSE 532000 19233825 19233825 INCUBATOR OPERATIONS 541900 1569292 1569292 EQUITY IN JOINT VENTURE PARTNERSH 531390 489714 489714 BUSINESS & COMMUNITY NETWORK 541900 64079 64079 SCIENCE & TECHNOLOGY 541900 12047 12047 21368957 145181 145181 2373381 2411411 -38030 -38030 -38030 23808353 21368957 0 107151 556969 556969 1883929 731432 792680 359817 1980886 1257341 652152 71393 263858 148642 93864 21352 340557 193820 120417 26320 346399 180688 128594 37117 19915 19915 65149 25843 39306 123200 9300 113900 240741 240741 999058 685032 314026 289739 128084 161655 573991 254132 319859 7227816 6892015 335801 59459 23660 35799 2907423 2907423 4408842 3540562 868280 244604 183622 60982 SECURITY 482873 482638 235 OTHER TAXES 169656 166484 3172 MISCELLANEOUS 117536 98712 18824 BAD DEBT 2956 2190 766 23305556 18488504 4060312 756740 5698805 5169805 1283421 1123495 3122305 2526035 254908 277564 115195047 50652135 64961490 64542912 4210704 4255637 1546124 1551138 153605 443319 4668568 4564065 85899930 84453970 2330876 2769566 66172031 64164358 4545088 4454646 73047995 71388570 X 12704435 12266800 147500 798600 12851935 13065400 85899930 84453970 X 502797 -2578 -286754 X X 0 1 X 1 0 X 3031069 1958828 1924994 1233705 2332245 10480841 16255911 16885986 18153690 18757011 21368957 91421555 19286980 18844814 20078684 19990716 23701202 101902396 0 8338583 8950474 10239430 9298503 9841627 46668617 8338583 8950474 10239430 9298503 9841627 46668617 55233779 140554 95212 142359 180442 145181 703748 140554 95212 142359 180442 145181 703748 19427534 18940026 20221043 20171158 23846383 102606144 0.53830 0.55430 0.00690 0.00790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 240741 240741 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. 227194 6973 234167 206908 20286 227194 188354 18554 206908 1196096 2767 1010509 188354 924731 92009 -179356 1196096 0 0 4871855 4871855 104884428 48038555 56845873 3361475 2613580 747895 2077289 2077289 64542912 DEFERRED RENT 2632730 OTHER DEFERRED COSTS, NET 1931335 4564065 DEPOSITS & OTHER CURRENT LIAB. 1853827 OTHER LONG TERM LIABILITIES 2600819 4454646 X 25045303 -2578 1239528 1236950 23808353 0 23808353 24831838 1526282 1526282 23305556 0 23305556 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: SCIENCE CENTER IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, ALTHOUGH ITS CONSOLIDATED ENTITY IS A FOR PROFIT ORGANIZATION WHICH IS SUBJECT TO INCOME TAXES. THERE WERE NO FEDERAL OR STATE INCOME TAX EXPENSES FROM CONSOLIDATED ENTITY AS OF DECEMBER 31, 2014 AND 2013. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE 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, 2014 AND 2013, 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 RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY. THERE WAS NO INCOME TAX RELATED INTEREST OR PENALTIES RECORDED FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013. THE INCOME TAX RETURNS OF SCIENCE CENTER AND ITS CONSOLIDATED FOR-PROFIT SUBSIDIARY FOR THE YEARS ENDED DECEMBER 31, 2011 THROUGH 2014 (WHEN FILED) ARE OR WILL BE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND OTHER VARIOUS TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE OF CONSOLIDATED SUBSIDIARIES 494,403. QED PROGRAM MATCH 300,000. UNREALIZED GAIN ON INTEREST RATE SWAP 445,125. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENDITURES OF CONSOLIDATED SUBSIDIARIES 1,226,282. QED PROGRAM MATCH 300,000. 1 TEMPLE UNIVERSITY 1938 LIACOURA WALK PHILADELPHIA PA PHILADELPHIA PA 19122 231365971 501(C)(3) 150000 PROOF OF CONCEPT FUNDINGPROOF OF CONCEPT FUNDING PROOF OF CONCEPT FUNDING DREXEL UNIVERSITY 3201 ARCH STREET SUITE 100 PHILDELPHIA PA 19104 231352630 501(C)(3) 50000 PROOF OF CONCEPT FUNDING RUTGERS UNIVERSITY 3 RUTGERS PLAZA ASB III NEW BRUNSWICK NJ 08901 226001086 501(C)(3) 100000 PROOF OF CONCEPT FUNDING SBIR GRANT WRITING SUPPORT WHYOS LLC 1701 WALNUT ST 8TH FLOOR PHILADELPHIA PA 19103 465323392 501(C)(3) 7000 PROTOTYPE DEVELOPMENT SUPPORT RESUSCOR LLC 3160 CHESTNUT ST SUITE 200 PHILADELPHIA PA 19104 461316515 501(C)(3) 7000 PROTOTYPE DEVELOPMENT SUPPORT ED LEADERSHIP SIMS LLC 3160 CHESTNUT ST SUITE 200 PHILADELPHIA PA 19104 464188555 501(C)(3) 7000 PROTOTYPE DEVELOPMENT SUPPORT ZIVTECH LLC 1315 WALNUT STREET SUITE 1500 BETHLEHEM PA 18015 261915317 501(C)(3) 7000 PROTOTYPE DEVELOPMENT SUPPORT DREXEL UNIVERSITY 3201 ARCH STREET SUITE 100 PHILADELPHIA PA 19104 231352630 N/A 25000 PARTNER SUPPORT BIOMEME INC 2025 WASHINGTON AVE SUITE 214 PHILADELPHIA PA 19146 PHILADELPHIA PA 19146 461268570 N/A 23606 DIGITAL HEALTH ACCELERATOR FUNDING CURBSIDE CARE LLC 201 S 18TH ST PHILADELPHIA PA 19103 19103 PHILADELPHIA PA 19103 465600530 N/A 15781 DIGITAL HEALTH ACCELERATOR FUNDING FITLY INC 3401 MARKET ST SUITE 200 PHILADELPH A PA 19104 PHILADELPHIA PA 19104 453570520 N/A 50000 DIGITAL HEALTH ACCELERATOR FUNDING IMOBILE HEALTHCARE LLC 3925 WALNUT ST PHILADELPHIA PA 19104 PHILADELPHIA PA 19104 463279699 25000 DIGITAL HEALTH ACCELERATOR FUNDING PULSE INFOFRAME US LLC 3401 MARKET ST SUITE 200 PHILADELPH A PA 19104 PHILADELPHIA PA 19104 472954219 36683 DIGITAL HEALTH ACCELERATOR FUNDING UE LIFESCIENCES INC 3401 MARKET ST SUITE 200 PHILADELPH A PA 19104 PHILADELPHIA PA 19104 900425600 49999 DIGITAL HEALTH ACCELERATOR FUNDING PART I, LINE 2: GRANT FUNDS MONITORING AT UCSC IS AN ORGANIZATION-WIDE ENDEAVOR. THE GRANT ADMINISTRATOR COORDINATES THE GRANT PROCESS FROM APPLICATION THROUGH CLOSE OUT WITH OVERSIGHT PROVIDED BY AN EXECUTIVE STAFF MEMBER. THE GRANT ADMINISTRATOR REVIEWS THE AWARD DOCUMENTATION AND APPLICABLE LAWS 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 BY THE GRANT ADMINISTRATOR IN CONJUNCTION WITH THE ASSIGNED EXECUTIVE. UPON TERMINATION OF THE AWARD, IT IS THE RESPONSIBILITY OF THE GRANT ADMINISTRATOR TO FINALIZE THE GRANT AND SUBMIT ALL REQUIRED CLOSE OUT MATERIALS. X 1 1 X X X X 1 1 0 0 0 0 0 0 0 STEPHEN TANG PRESIDENT AND CEO 417305 0 172500 0 0 0 27690 0 15220 0 632715 0 0 0 ROBERT MARCANTUONO VP OF ACCOUNTING, TREASURE 65918 65918 0 0 0 0 6155 6155 5169 5168 77242 77241 0 0 SAUL BEHAR VP & GENERAL COUNSEL, SECR 244937 0 67000 0 0 0 27690 0 22360 0 361987 0 0 0 MONICA CAWVEY VP OF DEVELOPMENT 158071 0 28000 0 0 0 8863 0 6705 0 201639 0 0 0 CURTIS HESS SENIOR VP REAL ESTATE 65625 196876 18000 54000 0 0 6589 19766 6927 20780 97141 291422 0 0 JEANNE MELL VP MARKETING & COMMUNICATI 165529 0 42000 0 0 0 20374 0 17435 0 245338 0 0 0 CHRISTOPHER LAING VP OF SCIENCE & TECHNOLOGY 173071 0 43000 0 0 0 22418 0 6510 0 244999 0 0 0 MARY ROBERTSON SENIOR PROPERTY MANAGER 0 129115 0 6456 0 0 0 12446 0 23401 0 171418 0 0 THOMAS GREENWOOD TERMED 123113 FORMER VP OF ACCOUNTING, TREASURER 19125 19125 0 0 0 0 1530 1530 2216 2215 22871 22870 0 0 PART I, LINE 1A THE SCIENCE CENTER REIMBURSES THE DUES OF THE PRESIDENT/CEO OF THE CENTER PAID TO THE UNION LEAGUE OF PHILADELPHIA. THIS ORGANIZATION INCLUDES AS MEMBERS MANY TOP LEADERS IN BUSINESS, LAW, ACADEMIA, ETC., PROVIDING FACILITIES AND RESOURCES FOR NETWORKING, MEETINGS, AND KNOWLEDGE ENHANCEMENT. MEMBERSHIP IN THE LEAGUE FOSTERS DEVELOPMENT AND ENHANCEMENT OF RELATIONSHIPS WITH RESOURCES AND INDIVIDUALS VITAL TO THE CONTINUATION AND GROWTH OF THE CENTER'S PROGRAMS AND GOALS. PART I, LINE 3 SEE SCHEDULE O NARRATIVE - FORM 990, PART VI, SECTION B, LINE 15. PART I, LINES 4A-B SECTION 457(F) DEFERRED COMPENSATION PLAN. ACCRUED CONTRIBUTION APPLICABLE TO OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES LISTED ON SCHEDULE J TOTALED $112,000 FOR THE YEAR ENDED DECEMBER 31, 2014. PART I, LINES 4A-B THOMAS GREENWOOD, FORMER VICE PRESIDENT OF ACCOUNTING, RECEIVED A TOTAL OF $45,741 (INCLUDING RETIREMENT BENEFITS OF $3,060 AND NONTAXABLE BENEFITS OF $4,431),IN EARLY 2013, SUSEQUENT TO EMPLOYMENT TERMINATION AT THE END OF 2013. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: THE PORT BUSINESS INCUBATOR AT THE HEART OF THE SCIENCE CENTER LIES THE PORT BUSINESS INCUBATOR, WHICH 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 CREATED MORE THAN 15,000 JOBS THAT REMAIN IN THE GREATER PHILADELPHIA REGION TODAY AND CONTRIBUTE MORE THAN $9 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 PRESTIGIOUS 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. THIS MAKES THE PORT ONE OF THE MOST FLEXIBLE INCUBATOR FACILITIES IN THE REGION. 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. INNOVATION CENTER @3401 LOCATED AT 3401 MARKET STREET, THE INNOVATION CENTER @3401 IS A COLLABORATION BETWEEN THE SCIENCE CENTER AND DREXEL UNIVERSITY, AND IS HOME TO DREAMIT VENTURES. OPENED IN JUNE OF 2014, THIS NEW SYNERGISTIC PROGRAM SUPPORTS INNOVATION, COLLABORATION, AND BUSINESS CREATION. 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. DIGITAL HEALTH ACCELERATOR LAUNCHED IN 2014, THE DIGITAL HEALTH ACCELERATOR FOCUSES ON COMPANIES DEVELOPING A HEALTHCARE PRODUCT COMPRISING A DIGITAL COMPONENT. TO BE ELIGIBLE, COMPANIES MUST HAVE A PRODUCT THAT IS AT LEAST AT PROTOTYPE STAGE AND READY TO BE PLACED INTO THE HANDS OF CUSTOMERS. THE DIGITAL HEALTH ACCELERATOR PROVIDES FUNDING, MENTORSHIP (INTELLECTUAL PROPERTY, SALES AND MARKETING, REGULATORY, FUNDRAISING ETC.), WARM INTRODUCTIONS, AND A FLEXIBLE WORKPLACE FOR PARTICIPANTS. THE INAUGURAL COHORT CONSISTED OF SEVEN COMPANIES - TWO INTERNATIONAL AND FIVE DOMESTIC. THE SCIENCE CENTER IS CONSIDERING OPTIONS FOR HOSTING ADDITIONAL COHORTS. FORM 990, PART III, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS: BUSINESS AND COMMUNITY NETWORKS THE SCIENCE CENTER SUPPORTS THE COMMUNITY THROUGH A VARIETY OF PROGRAMS AND PARTNERSHIPS, INCLUDING QUORUM, THE REGIONAL AFFINITY INCUBATION NETWORK (RAIN), EDUCATION INITIATIVES SUCH AS OUR STEAM INITIATIVES PROGRAM (FORMERLY BREADBOARD) AND THE DEPARTMENT OF MAKING + DOING (DM+D) COLLABORATION, AND THE UNIVERSITY CITY KEYSTONE INNOVATION ZONE (UC KIZ). STEAM INITIATIVES THE UNIVERSITY CITY SCIENCE CENTER'S "STEAM INITIATIVES" 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 PROGRAMS 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. USING A COMBINATION OF HIGH-TECH AND LOW-TECH TOOLS PAIRED WITH HANDS-ON LEARNING OPPORTUNITIES, STEAM INITIATIVES OFFER YEAR-ROUND PROGRAMMING TO YOUTH, FAMILIES AND EDUCATORS - ALL FREE OF CHARGE. MAKING THE STEAM INITIATIVES EXPERIENCE UNIQUE ARE 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. DURING 2014, THE FIRST FULL YEAR OF OPERATION, STEAM INITIATIVES WORKED WITH 535 LOCAL YOUTHS AND PROVIDED MORE THAN 2,300 HOURS OF STUDENT ENGAGEMENT THROUGH 21 SEPARATE PROGRAMS. STEAM INITIATIVES YOUTH 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. " STEAM TRAINING FOR TEACHERS IS AN OPPORTUNITY FOR EDUCATORS LOOKING TO BRING THE TENETS OF STEAM EDUCATION INTO THEIR CLASSROOMS. THE GOAL IS FOR EDUCATORS TO LEARN THE PRACTICE OF DESIGN-BASED STEAM EDUCATION BY EXPERIENCING IT THEMSELVES. THE TAKEAWAYS ARE A RESOURCE KIT FOR INCLUDING STEAM PEDAGOGY IN FUTURE LESSON PLANS. " THE SCIENCE CENTER EXPERIENCE IS A WINDOW INTO THE WORLD OF REAL-LIFE SCIENCE RESEARCH LABS. THE SCIENCE CENTER'S LABS AND OFFICE SPACES ARE TEEMING WITH SCIENTISTS AND ENTREPRENEURS WHO ARE EAGER TO SHARE FIRSTHAND EXPERIENCES OF THEIR WORK AND CAREER PATHS WITH STUDENTS AND TEACHERS. PARTICIPANTS TOUR THE SCIENCE CENTER CAMPUS, VISIT THE LABS AND INTERACT WITH THE RESIDENT SCIENTISTS TO LEARN WHAT IT'S REALLY LIKE TO WORK IN THE STEM DISCIPLINES. STEAM INITIATIVES ALSO MANAGES AN ART GALLERY SPACE 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 ADDITION, THE SCIENCE CENTER IS A FOUNDING PARTNER, ALONG WITH THREE OTHER COMMUNITY-BASED ORGANIZATIONS, OF THE DEPARTMENT OF MAKING AND DOING (DM+D), A COLLABORATIVE OPERATION THAT BLENDS CREATIVITY AND TECHNOLOGY TO ADDRESS FUTURE CHALLENGES AND DEVELOP TRANSFORMATIVE IDEAS FOR PHILADELPHIA. BY ACTIVELY ENGAGING CITIZENS WITH HANDS-ON LEARNING AND CIVIC PROBLEM-SOLVING, THE ORGANIZATION AIMS TO EMPOWER ITS USERS TO IDENTIFY PROBLEMS, DESIGN SOLUTIONS, AND BUILD THEIR IDEAS. DM+D IS AN INTERGENERATIONAL, MULTIDISCIPLINARY CIVIC INNOVATION LAB AND STEAM MAKER SPACE THAT PROVIDES THE TOOLS, CREATIVITY AND KNOWLEDGE TO INSPIRE CITIZENS TO DO GREAT THINGS. DURING 2014, THE FIRST FULL YEAR OF OPERATION, DM+D FACILITATED, HOSTED, OR RAN OVER 270 EVENTS AND ATTRACTED NEARLY 4,000 ATTENDEES FROM ALL OVER PHILADELPHIA AND THE SURROUNDING COUNTIES. DM+D HOSTS PROGRAMS INCLUDING A WEEKLY "DROP IN + DO" OPEN PROJECT NIGHT AND WEEKEND FAMILY WORKSHOPS, WHERE ATTENDEES CAN LEARN ABOUT SOFT CIRCUITS AND ROBOTICS. DM+D ALSO HOSTS SEVERAL ADULT WORKSHOPS, SUCH AS INTRO TO WOODWORKING, LASER-CUT JEWELRY, SOAP MAKING, INTRO TO SOLDERING, AND ELECTRONICS. QUORUM QUORUM IS A SCIENCE CENTER INITIATIVE THAT UNITES THE REGION'S ENTREPRENEURSHIP AND INNOVATION COMMUNITIES THROUGH A CENTRAL, NEUTRAL GATHERING SPACE AT 3711 MARKET STREET AND RELATED PROGRAMS THROUGHOUT THE REGION. 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 QUORUM OPENED ITS DOORS IN 2011, 31,000 PEOPLE PARTICIPATED IN 600 EVENTS AND PROGRAMS IN QUORUM. IN 2014, MORE THAN 8,000 PEOPLE PARTICIPATED IN 165 QUORUM PROGRAMS AND EVENTS. THE UNIVERSITY CITY SCIENCE CENTER (SC) CONTINUED ITS SATELLITE QUORUM AT THE NAVY YARD PROGRAMMING THROUGH APRIL 2014. SATELLITE QUORUM SUPPORTED THE ENERGY EFFICIENT BUILDINGS HUB (EEB HUB)'S GOAL OF REDUCING ENERGY CONSUMPTION IN COMMERCIAL BUILDINGS BY OFFERING PROGRAMMING TARGETED TO ENTREPRENEURS IN THE CLEAN TECH/ADVANCED ENERGY RETROFIT SECTORS. REGIONAL AFFINITY INCUBATION NETWORK (RAIN) RAIN IS A REGIONAL NETWORK OF 90-PLUS RESEARCH PARKS, BUSINESS INCUBATORS, CO-WORKING SPACES, ACCELERATORS AND SUPPORT ORGANIZATIONS IN PENNSYLVANIA, NEW JERSEY AND DELAWARE THAT SHARE INFORMATION, CAPABILITIES AND OPPORTUNITIES - AS WELL AS BUILD STRENGTH ACROSS THE REGION. LAUNCHED IN 2009, RAIN HAS EXPANDED TO INCLUDE THE DIVERSE GROUP OF CO-WORKING SPACES, ACCELERATORS AND OTHER MODELS THAT SUPPORT ENTREPRENEURSHIP IN THE REGION. MORE THAN 125 PEOPLE ATTENDED THE 6TH ANNUAL RAIN CONFERENCE IN JULY 2014 THAT EXPLORED BEST PRACTICES AND STRATEGIES TO MAKE PHILADELPHIA A NEXT-GENERATION INNOVATION HUB. 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. TWENTY UC KIZ COMPANIES RECEIVED A COLLECTIVE $1.7 MILLION IN TAX CREDITS AWARDED BY THE PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT IN 2014 AS PART OF THE KEYSTONE INNOVATION ZONE (KIZ) TAX CREDIT PROGRAM. FORM 990, PART III, LINE 4C, PROGRAM SERVICE ACCOMPLISHMENTS: REAL ESTATE THE SCIENCE CENTER CAMPUS ENCOMPASSES 17 ACRES, 16 BUILDINGS, AND 2.2 MILLION SQUARE FEET WITHIN A FOUR-BLOCK AREA THAT IS HOME TO 100 COMPANIES EMPLOYING 8,000 PEOPLE. CURRENTLY, THE SCIENCE CENTER OWNS AND MANAGES APPROXIMATELY 1.5 MILLION SQUARE FEET OF SPACE IN NINE BUILDINGS, INCLUDING THREE INCUBATORS FOR FLEDGLING BUSINESSES. IN KEEPING WITH THE AGILITY OF ENTREPRENEURS, SHORT-TERM LEASES ARE AVAILABLE, WITH OPPORTUNITIES FOR GROWTH. IN 2014, WE OPENED OUR NEWEST BUILDING AT 3737 MARKET STREET, A 332,000-SQUARE-FOOT MIXED USE PROPERTY. THE ANCHOR TENANT IS PENN PRESBYTERIAN MEDICAL CENTER'S PENN CENTER FOR SPECIALTY CARE. FORM 990, PART VI, SECTION A, LINE 6 THE OWNERSHIP OF SHARES OF THE CORPORATION IS RESTRICTED TO CORPORATIONS 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 A, LINE 7B REGULAR AND ANNUAL MEETINGS ARE HELD FOR THE TRANSACTION OF BUSINESS. SPECIAL MEETINGS MAY ALSO BE HELD AT THE DIRECTION OF THREE OR MORE SHAREHOLDERS. FORM 990, PART VI, SECTION B, LINE 11 THE COMPLETED 990 IS PRESENTED FOR REVIEW AND APPROVAL BY THE AUDIT COMMITTEE, AT WHICH TIME IT WILL BE 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 ON DECEMBER 24, 2013 TO REVIEW CEO AND EXECUTIVE COMPENSATION AND PROVIDE BENCHMARK INFORMATION ON SALARY AND INCENTIVE COMPENSATION. AN ARRAY OF 501 C3 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 SULLIVAN COTTER 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: NET RPI ACTIVITY -731,879. UNREALIZED GAIN ON INTEREST RATE SWAP 445,125. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE DURING THE CURRENT PERIOD BY THE ORGANIZATION IN THE AUDIT OVERSIGHT OR INDEPENDENT AUDITOR SELECTION PROCESS. FORM 990, PART III, LINE 4D, PROGRAM SERVICE ACCOMPLISHMENTS (CONTINUED): INNOVATION CENTER @3401 LOCATED AT 3401 MARKET STREET, THE INNOVATION CENTER @3401 IS A COLLABORATION BETWEEN THE SCIENCE CENTER AND DREXEL UNIVERSITY, AND IS HOME TO DREAMIT VENTURES. OPENED IN JUNE OF 2014, THIS NEW SYNERGISTIC PROGRAM SUPPORTS INNOVATION, COLLABORATION, AND BUSINESS CREATION. 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. DIGITAL HEALTH ACCELERATOR LAUNCHED IN 2014, THE DIGITAL HEALTH ACCELERATOR FOCUSES ON COMPANIES DEVELOPING A HEALTHCARE PRODUCT COMPRISING A DIGITAL COMPONENT. TO BE ELIGIBLE, COMPANIES MUST HAVE A PRODUCT THAT IS AT LEAST AT PROTOTYPE STAGE AND READY TO BE PLACED INTO THE HANDS OF CUSTOMERS. THE DIGITAL HEALTH ACCELERATOR PROVIDES FUNDING, MENTORSHIP (INTELLECTUAL PROPERTY, SALES AND MARKETING, REGULATORY, FUNDRAISING ETC.), WARM INTRODUCTIONS, AND A FLEXIBLE WORKPLACE FOR PARTICIPANTS. THE INAUGURAL COHORT CONSISTED OF SEVEN COMPANIES - TWO INTERNATIONAL AND FIVE DOMESTIC. THE SCIENCE CENTER IS CONSIDERING OPTIONS FOR HOSTING ADDITIONAL COHORTS. 3701 UNIVERSITY CITY SCIENCE CENTER ASSOCIATES LLC 3711 MARKET STREET SUITE 800 PHILADELPHIA PA 19104 233040121 COMMERICAL REAL ESTATE PROPERTY OWNERSHIP AND RENTAL PA 292136 43185 UNIVERSITY CITY SCIENCE CENTER 3701 UNIVERSITY CITY SCIENCE CENTER ASSOCIATES LP 3711 MARKET STREET SUITE 800 PHILADELPHIA PA 19104 233040122 COMMERICAL REAL ESTATE PROPERTY OWNERSHIP AND RENTAL PA 28921447 4275271 UNIVERSITY CITY SCIENCE CENTER WHALEY PARTNERS LP 3711 MARKET STREET 8TH FLOOR PHILADELPHIA PA 19104 208824011 INVESTMENT PA UNIVERSITY CITY SCIENCE CENTER RELATED 174392 0 0 0.80070 PORT OF TECHNOLOGY INC 3711 MARKET STREET SUITE 400 PHILADELPHIA PA 19104 233054794 INCUBATOR STARTUP SUPPORT PA UNIVERSITY CITY SCIENCE CENTER C 1.00000 0 RESEARCH PARK INC 3711 MARKET STREET SUITE 800 PHILADELPHIA PA 19104 232671100 SERVICES - REAL ESTATE MGMT PA UNIVERSITY CITY SCIENCE CENTER C -206228 139044 1.00000 0 0 0 0 1 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 RESEARCH PARK INC L 494403 RESEARCH PARK INC P -469243 RESEARCH PARK INC - NET INTERCOMPANY CHANGE D -264581 RESEARCH PARK INC J 280532