2014-05-13T12:35:32-05:00 2013-12-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2013-01-01 412093194 UNIVERSITY ENTERPRISE LABORATORIES INC UNIV 6516412800 1000 WESTGATE DRIVE SUITE 101 ST PAUL MN 55114 JEREMY LENZ BOARD CHAIRMAN 6516412800 2014-05-07 1 LAWRENCE H MOHR CPA P00447603 6128764500 2014-05-07 2013 2015-11-30 17:44:51Z JEREMY LENZ 1000 WESTGATE DRIVE SUITE 101 ST PAUL MN 55114 2820549 0 X WWW.UELMN.ORG X 2002 MN UEL IS ORGANIZED FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES. IT SERVES AS A LABORATORY-BASED INCUBATOR FOR EMERGING LIFE SCIENCE COMPANIES BY PROVIDING LABORATORY SPACE AND ACCESS TO EQUIPMENT, BUSINESS TRAINING, RESEARCH COLLABORATION WITH THE UNIVERSITY OF MINNESOTA FACULTY AND STUDENTS, FACULTY AND STUDENT RESEARCH SPACE, STUDENT WORK EXPERIENCE AND INTERNSHIP OPPORTUNITIES, AND TECHNOLOGY TRANSFER WITH THE UNIVERSITY. IT IS ORGANIZED AND WILL BE OPERATED TO PROMOTE, ENCOURAGE, AND AID SCIENTIFIC INVESTIGATION, RESEARCH, TECHNOLOGICAL ADVANCEMENT AND EDUCATIONAL OPPORTUNITIES; PROMOTE, ENCOURAGE, AND AID IN THE MUTUAL TRANSFER AND APPLICATION OF SCIENTIFIC INVESTIGATION & RESEARCH, TECHNOLOGICAL ADVANCEMENT, AND EDUCATIONAL OPPORTUNITIES PRODUCED BY EDUCATIONAL AND RESEARCH INSTITUTIONS, INDUSTRY, BUSINESS AND GOVERNMENT. 22 22 1 21 0 0 7989 11625 5047987 2806816 4153 2108 0 0 5060129 2820549 0 0 0 0 0 66836 0 0 38520 2505098 2707462 2505098 2774298 2555031 46251 8308758 15034419 0 9514107 8308758 5520312 TO INCUBATE EARLY STAGE BIOSCIENCE VENTURES BY PROVIDING PREMIER FACILITIES AND SERVICES THAT ENABLE INNOVATION, GROWTH, COMMERCIAL SUCCESS, AND JOB GROWTH. 0 0 2574849 2806816 SERVES AS A LABORATORY-BASED INCUBATOR FOR EMERGING LIFE SCIENCE COMPANIES BY PROVIDING LABORATORY SPACE AND ACCESS TO EQUIPMENT, BUSINESS TRAINING, AND RESEARCH COLLABORATION WITH THE UNIVERSITY OF MINNESOTA FACULTY AND STUDENTS. 2574849 1 0 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 11 0 1 1 0 0 0 0 0 0 0 0 0 0 X 22 22 1 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 1 1 0 MN X RICK BERC 9528548800 2001 KILLEBREW DRIVE SUITE 170 BLOOMINGTON MN 55425 X ANTHONY CARIDEO DIRECTOR 1.00 X 0 0 0 ARON ANDERSON PHD SECRETARY 1.00 X X 0 0 0 BRIAN MENSINK TREASURER 1.00 X X 0 0 0 CECILE BEDOR DIRECTOR 1.00 X 0 0 0 DANIEL FOLEY MD DIRECTOR 1.00 X 0 0 0 JEREMY LENZ CHAIRMAN 1.00 X X 0 0 0 JOANNA LABRESH DIRECTOR 1.00 X 0 0 0 JOHN STAVIG DIRECTOR 1.00 X 0 0 0 JON ANDERSON DIRECTOR 1.00 X 0 0 0 JOSEPH SHAW DIRECTOR 1.00 X 0 0 0 LAURA MCCARTEN DIRECTOR 1.00 X 0 0 0 LYNN IHLENFELDT DIRECTOR 1.00 X 0 0 0 NANCY HOMANS DIRECTOR 1.00 X 0 0 0 PAUL KNAPP DIRECTOR 1.00 X 0 0 0 PETE BIRKELAND DIRECTOR 1.00 X 0 0 0 STEVE MERTENS DIRECTOR 1.00 X 0 0 0 SUSAN PAQUETTE DIRECTOR 1.00 X 0 0 0 TODD TAYLOR VICE CHAIRMAN 1.00 X X 0 0 0 TOM MARTIN DIRECTOR 1.00 X 0 0 0 SARAH HARRIS DIRECTOR 1.00 X 0 0 0 JEFF MONTANYE DIRECTOR 1.00 X 0 0 0 ROBERT ELDE DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 TAPESTRY MANAGEMENT 2001 KILLEBREW DR STE 170 MINNEAPOLIS MN 55425 MANAGEMENT SERVICES 105261 1 11625 11625 RENTAL INCOME 532000 2806816 2806816 2806816 2108 2108 2820549 2806816 0 2108 66836 42836 24000 105261 105261 2529 2529 38588 12000 26588 30816 30816 2100 2100 24812 24812 756281 756281 407824 407824 803866 803866 26044 23493 2551 REPAIRS AND MAINTENANCE 351462 351462 BAD DEBT EXPENSE 110000 110000 MISCELLANEOUS EXPENSE 28496 28496 EQUIPMENT RENTAL 11679 11679 7704 7704 2774298 2574849 160929 38520 184103 392267 111813 189294 9430 7158 20555243 7410907 0 13144336 8124655 1180121 8308758 15034419 84174 174668 9160477 0 94788 0 9514107 X 8308758 5520312 8308758 5520312 8308758 15034419 X 46251 -2834697 X X 0 1 X 1 0 X 22694 313304 105600 7989 11625 461212 2209282 2203611 2307733 2404777 2806816 11932219 2231976 2516915 2413333 2412766 2818441 12393431 0 1119560 1119560 1119560 1119560 11273871 34535 18973 24650 4153 2108 84419 34535 18973 24650 4153 2108 84419 2643210 2643210 2266511 2535888 2437983 5060129 2820549 15121060 0.74560 0.80360 0.00560 0.01520 X 1 0 0 0 0 0 1 984 0 1 30816 31800 0 PART II-B, LINE 1: UEL INC. ENTERED INTO A CONTRACT WITH BERN'S LAW FIRM, LLC DURING THE YEAR TO ASSIST UEL IN ITS EFFORTS TO IDENTIFY GRANT OPPORTUNITIES, FACILITATE FEDERAL FUNDING REQUESTS, COMMUNICATE WITH HOUSE AND SENATE APPROPRIATIONS STAFF AND OTHER OPPORTUNITIES THAT MAY DEVELOP; MONITOR FEDERAL AND STATE ACTIVITY, INCLUDING POLICY DEVELOPMENT THAT MAY IMPACT UEL OR ITS MISSION. UEL ALSO HOSTED THE MINNESOTA SENATE BONDING TOUR DURING 2013. 2420000 2420000 12706642 2733309 9973333 4831989 4263277 568712 596612 414321 182291 13144336 DEFERRED RENT ASSET 225062 ASSETS WHOSE USE IS LIMITED 424606 LEASE COMMISSIONS 147531 DEBT ISSUANCE COST 382922 1180121 REFUNDABLE SECURITY DEPOSITS 94788 94788 X PART X, LINE 2: THE ORGANIZATION FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE ORGANIZATION FOR UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2013 AND 2012. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR FISCAL YEAR 2010 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. KINGFISHER BIOTECH CEO OF KINGFISHER BIOTECH IS A DIRECTOR OF UEL. 54500 CEO OF KINGFISHER BIOTECH, JOANNA LABRESH, IS A DIRECTOR OF UEL. KINGFISHER BIOTECH IS A RENTAL TENANT OF UEL. ALL TRANSACTIONS OCCURRED IN THE NORMAL COURSE OF BUSINESS AND THE BOARD MEMBER ABSTAINED FROM VOTING ON ANY DECISIONS RELATED TO BUSINESS TRANSACTIONS WITH KINGFISHER BIOTECH. 0 THE SHAW GROUP CEO OF THE SHAW GROUP IS A DIRECTOR OF UEL. 2996 CEO OF THE SHAW GROUP, JOSEPH SHAW, IS A DIRECTOR OF UEL. THE SHAW GROUP IS A RENTAL TENANT OF UEL. ALL TRANSACTIONS OCCURRED IN THE NORMAL COURSE OF BUSINESS AND THE BOARD MEMBER ABSTAINED FROM VOTING ON ANY DECISIONS RELATED TO BUSINESS TRANSACTIONS WITH THE SHAW GROUP. 0 FORM 990, PART VI, SECTION A, LINE 2 NANCY HOMANS AND CECILE BEDOR: BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 3 MANAGEMENT DUTIES DELEGATED TO TAPESTRY MANAGEMENT LLC, F/K/A LASALLE MANAGEMENT GROUP. FORM 990, PART VI, SECTION A, LINE 7A SINCE INCEPTION, THE ORGANIZATION HAS TWO STAKEHOLDERS THAT MAY APPOINT DIRECTORS: UNIVERSITY OF MINNESOTA AND THE CITY OF ST. PAUL. FORM 990, PART VI, SECTION B, LINE 11 THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING. ONCE APPROVED, A COPY IS PROVIDED TO THE FULL BOARD WHERE IT IS REVIEWED AND APPROVED. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS COMPLETE CONFLICT OF INTEREST STATEMENTS ANNUALLY AND ARE REQUIRED TO REPORT ANY CHANGES AS THEY ARISE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS IN DETAIL AND APPROVES THE MANAGEMENT AGREEMENT. IN ADDITION, THEY REVIEW AND APPROVE THE BUDGET WHICH INCLUDES EMPLOYEE COMPENSATION AT THE BEGINNING OF EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION IS AVAILABLE UPON REQUEST OF THE MANAGEMENT COMPANY OR MAILING. FORM 990, PART XI, LINE 9: ACCUMULATED EARNINGS OF SUBSIDIARY NOW TREATED AS A SINGLE MEMBER LLC -2,834,697. FORM 990, PART XII, LINE 2C: THE PROCESS FOR THE OVERSIGHT OF THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT WERE NOT CHANGED DURING THE YEAR. FORM 990, PART IV, LINE 34 ON JANUARY 13, 2005, THE ORGANIZATION FORMED A TAXABLE SUBSIDIARY NAMED UEL REAL ESTATE HOLDINGS, LLC WITH A SEPARATE TAX EXEMPT ORGANIZATION. AS OF DECEMBER 31, 2012, THE ORGANIZATION OWNED 100.00%. UEL REAL ESTATE HOLDINGS, LLC IS A DISREGARDED ENTITY FOR FEDERAL TAX PURPOSES. ** A KEY PART OF THE ORGANIZATION'S EXEMPT PURPOSE IS TO PROVIDE LABORATORY SPACE AND ACCESS TO EQUIPMENT TO EMERGING LIFE SCIENCE COMPANIES. IN CARRYING OUT THIS EXEMPT PURPOSE THE ORGANIZATION ACQUIRED AND RENOVATED A 126,000 SQUARE FOOT FACILITY. ORIGINALLY, THE ORGANIZATION INTENDED TO FINANCE THE FACILITY THROUGH THE USE OF VARIABLE RATE REVENUE BONDS. THE ORGANIZATION LATER DETERMINED THAT IT WAS IN ITS BEST INTEREST TO UTILIZE NEW MARKET TAX CREDITS AND OTHER INVESTMENT MECHANISMS WHICH REQUIRE THAT THE FACILITY BE OWNED IN A SUBSIDIARY OF THE ORGANIZATION. UEL REAL ESTATE HOLDINGS LLC 1000 WESTGATE DRIVE ST PAUL MN 55114 202133240 LAB RENTAL TO EMERGING LIFE SCIENCE COMPANIES MN 144627 14422864 UNIVERSITY ENTERPRISE LABORATORIES