2015-11-10T13:15:27-06:00 2014-12-31 381357951 PLANTE & MORAN PLLC PO BOX 307 SOUTHFIELD MI 480370307 990 2014-01-01 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 2015-11-09 1 TINA PETERS P00904574 2483522500 2014 2016-03-07 17:11:31Z TECHTOWN TECHTOWN DETROIT EDWARD B STAEBLER 440 BURROUGHS DETROIT MI 48202 2333083 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. 30 30 38 100 0 0 3372720 2314599 30700 18484 0 0 1728 0 3405148 2333083 22916 54322 0 0 1439898 1433609 0 0 119562 1049607 1289685 2512421 2777616 892727 -444533 13800074 12810954 3574442 3279468 10225632 9531486 X TO ACCELERATE ECONOMIC GROWTH IN DETROIT BY GROWING STRONG BUSINESSES AND DRIVING REGIONAL COLLABORATION. 0 0 1977160 54322 18484 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 1977160 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 183 0 1 38 1 0 0 0 0 0 0 0 0 0 0 X 30 30 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 M ROY WILSON CHAIR 1.00 0.00 X X 0 0 0 JAMES CONNELLY VICE CHAIR & TREASURER 1.00 0.10 X X 0 0 0 DAVID BLASZKIEWICZ SECRETARY/VICE CHAIR 1.00 0.10 X X 0 0 0 LIZABETH ARDISANA BOARD MEMBER 1.00 0.00 X 0 0 0 HON DEBBIE DINGELL BOARD MEMBER 1.00 0.00 X 0 0 0 DR FARSHAD FOTOUHI BOARD MEMBER 1.00 0.00 X 0 0 0 BRIAN HOLDWICK BOARD MEMBER 1.00 0.00 X 0 0 0 RICK NORK BOARD MEMBER 1.00 0.10 X 0 0 0 A PAUL SCHAAP PHD BOARD MEMBER 1.00 0.00 X 0 0 0 MARC SCHWARTZ BOARD MEMBER 1.00 0.00 X 0 0 0 MARGARET WILLIAMS BOARD MEMBER 1.00 0.00 X 0 0 0 STEVE AMBROSE BOARD MEMBER 1.00 0.00 X 0 0 0 DR THOMAS ANDERSON BOARD MEMBER 1.00 0.00 X 0 0 0 MARTIN DOBER BOARD MEMBER 1.00 0.00 X 0 0 0 DAVE EGNER BOARD MEMBER 1.00 0.00 X 0 0 0 SUSAN MOSEY BOARD MEMBER 1.00 0.00 X 0 0 0 CHRISTOPHER RIZIK BOARD MEMBER 1.00 0.00 X 0 0 0 TED SERBINSKI BOARD MEMBER 1.00 0.00 X 0 0 0 ROBERT CHARLES BOARD MEMBER 1.00 0.00 X 0 0 0 KATE BORDINE BOARD MEMBER 1.00 0.00 X 0 0 0 SAUNTEEL JENKINS BOARD MEMBER 1.00 0.00 X 0 0 0 PAUL MASSARON BOARD MEMBER 1.00 0.00 X 0 0 0 JEAN REDFIELD BOARD MEMBER 1.00 0.00 X 0 0 0 ROSS SANDERS BOARD MEMBER 1.00 0.00 X 0 0 0 PAULA SORELL BOARD MEMBER 1.00 0.00 X 0 0 0 NED STAEBLER BOARD MEMBER 1.00 0.10 X 0 0 0 CARLA WALKER-MILLER BOARD MEMBER 1.00 0.00 X 0 0 0 MARK COTICCHIA BOARD MEMBER 1.00 0.00 X 0 0 0 STEPHEN LANIER BOARD MEMBER 1.00 0.00 X 0 0 0 GABE LELAND BOARD MEMBER 1.00 0.00 X 0 0 0 LESLIE SMITH PRESIDENT & CEO 36.00 4.00 X 175765 0 18055 KENNETH MESKIN CONTROLLER - PART YEAR 24.00 16.00 X 73109 0 18895 MIKE O'ROURKE COO 24.00 16.00 X 123522 0 8933 372396 0 45883 2 0 1 1 0 691009 1623590 2314599 ENTREPRENEUR LOAN INT. 900099 18484 18484 18484 2333083 18484 0 0 X 54322 54322 418280 88192 310706 19382 814051 749516 22790 41745 102403 96606 189 5608 98875 69213 24719 4943 7688 5766 1922 67390 50543 16847 525832 394374 131458 117419 70451 46968 81583 43604 37979 32768 24576 8192 148446 147052 1394 77523 38762 38761 85656 85656 51292 51292 6768 4061 2707 BUSINESS ACCELERATOR EX 65676 32838 32838 BAD DEBT EXPENSE 21611 21611 SUBSCRIPTIONS & PUBS. 33 17 -900 916 2777616 1977160 680894 119562 851278 333252 426223 29478 13930990 14189441 131175 102459 6516 6634 403480 328098 126675 75382 -1676083 -1925692 3300 0 13800074 12810954 219156 152871 3381 31079 82144 3324207 3041072 3574442 3279468 X 9391377 9178193 834255 353293 10225632 9531486 13800074 12810954 -444533 -249613 0 X X 0 1 X 1 0 X 4048375 9244195 3818401 3372720 2314599 22798290 21336 35177 30700 18484 105697 4048375 9265531 3853578 3403420 2333083 22903987 1125882 900000 12000 25882 2063764 0 1125882 900000 12000 25882 2063764 20840223 2920 59 1 2980 149600 80389 229989 152520 80448 1 232969 19884 2087 864 1728 24563 4220779 9348066 3854443 3405148 2333083 23161519 0.89980 0.90120 0.01010 0.01380 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 363555 297044 66511 39925 31054 8871 75382 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: FIN 48 DISCLOSURE: 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 $5,557,000 EXPIRING IN 2025 THROUGH 2033. 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, 2011 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, 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. X X X 0 0 0 0 0 0 0 0 0 LESLIE SMITH PRESIDENT & CEO 175765 0 0 0 0 0 0 0 18055 0 193820 0 0 0 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 43,002. MANAGEMENT AND GENERAL EXPENSES 14,334. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 57,336. CONTRACT EMPLOYEES: PROGRAM SERVICE EXPENSES 93,365. MANAGEMENT AND GENERAL EXPENSES 31,122. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 124,487. ENTREPRENEUR-IN-RESIDENCE & FELLOWSHIP PROGRAM MENTORS: PROGRAM SERVICE EXPENSES 155,782. MANAGEMENT AND GENERAL EXPENSES 51,927. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 207,709. ENTREPRENEUR PROGRAM MENTORS: PROGRAM SERVICE EXPENSES 87,225. MANAGEMENT AND GENERAL EXPENSES 29,075. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 116,300. SPEAKER SERIES: PROGRAM SERVICE EXPENSES 15,000. MANAGEMENT AND GENERAL EXPENSES 5,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 20,000. FORM 990, PART XII, LINE 2C: THE AUDIT PROCESS HAS NOT CHANGED FROM PREVIOUS YEARS. 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