2013-11-14T12:35:41-06:00 2012-12-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST STE 2300 MINNEAPOLIS MN 55402 990 2012-01-01 412093194 UNIVERSITY ENTERPRISE LABORATORIES INC UNIV 6516412800 1000 WESTGATE DRIVE SUITE 101 ST PAUL MN 55114 ANTHONY CARIDEO 6516412800 2013-10-18 1 LAWRENCE H MOHR CPA P00447603 6128764500 2012 2016-02-24 21:20:13Z ANTHONY CARIDEO 1000 WESTGATE DRIVE SUITE 101 ST PAUL MN 55114 5060129 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. 20 20 1 20 0 0 105600 7989 2307733 5047987 24650 4153 0 0 2437983 5060129 0 0 0 0 0 0 0 0 15231 2544337 2505098 2544337 2505098 -106354 2555031 8803603 8308758 503710 0 8299893 8308758 TO INCUBATE EARLY STAGE BIOSCIENCE VENTURES BY PROVIDING PREMIER FACILITIES AND SERVICES THAT ENABLE INNOVATION, GROWTH, COMMERCIAL SUCCESS, AND JOB GROWTH. 0 0 2437304 5047987 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. 2437304 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 0 1 1 1 0 0 1 10 0 1 1 0 0 0 0 0 0 0 0 0 0 X 20 20 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 PAUL KNAPP 1.00 X 0 0 0 ANTHONY CARIDEO 5.00 X X 0 0 0 ARON ANDERSON PHD 1.00 X X 0 0 0 DANIEL FOLEY MD 1.00 X 0 0 0 STEVE MERTENS 1.00 X 0 0 0 CECILE BEDOR 1.00 X 0 0 0 JOANNA LABRESH 1.00 X 0 0 0 JEREMY LENZ 1.00 X X 0 0 0 ROBERT ELDE PHD 1.00 X 0 0 0 TOM MARTIN 1.00 X 0 0 0 SUSAN PAQUETTE 1.00 X 0 0 0 NANCY HOMANS 1.00 X 0 0 0 BRIAN MENSINK 2.00 X X 0 0 0 JOSEPH SHAW 1.00 X 0 0 0 JON ANDERSON 1.00 X 0 0 0 CHARLES OSBORNE 1.00 X 0 0 0 PETE BIRKELAND 1.00 X 0 0 0 TIM CUSACK 1.00 X 0 0 0 LAURA MCCARTEN 1.00 X 0 0 0 JOHN STAVIG 1.00 X 0 0 0 TODD TAYLOR 1.00 X 0 0 0 WESLEY BARKER 1.00 X 0 0 0 LYNN IHLENFELDT 1.00 X 0 0 0 0 0 0 0 0 0 0 0 7989 7989 REFINANCE GAIN FROM SU 900099 2643210 2643210 RENTAL INCOME FROM SUB 532000 2404777 2404777 5047987 4153 4153 5060129 5047987 0 4153 RENTAL EXPENSES FROM SU 2504930 2437136 52563 15231 ADMINISTRATIVE AND MISC 168 168 2505098 2437304 52563 15231 53074 184103 12434 12434 0 0 4123333 0 4627196 8124655 8803603 8308758 503710 0 503710 0 X 8299893 8308758 8299893 8308758 8803603 8308758 X 2555031 -2546166 X X 0 1 X 1 0 X 125501 22694 313304 105600 7989 575088 2257835 2209282 2203611 2307733 2404777 11383238 2383336 2231976 2516915 2413333 2412766 11958326 0 0 0 11958326 143298 34535 18973 24650 4153 225609 143298 34535 18973 24650 4153 225609 53784 2643210 2696994 2580418 2266511 2535888 2437983 5060129 14880929 0.80360 0.83940 0.01520 0.02850 X 1 0 0 0 0 0 1 0 1 20831 20831 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: UEL INC. ENTERED INTO A CONTRACT WITH DUANE MORRIS GOVERNMENT STRATEGIES AND 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. 12434 12434 0 0 INVESTMENT IN SUBSIDARY 4631828 DUE FROM SUBSIDIARY 3492827 8124655 X DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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, 2012 AND 2011. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR FISCAL YEAR 2009 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. KINGFISHER BIOTECH CEO OF KINGFISHER BIOTECH IS A DIRECTOR OF UEL. 25192 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. 5400 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 UPON REQUEST OF THE MANAGEMENT COMPANY OR MAILING. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: TAXABLE INCOME AND EXPENSES FROM TAXABLE SUBSIDIARY -2,546,166. 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. TAXABLE SUBSIDIARY FORM 990, PART IV, LINE 34 ON JANUARY 13, 2005, THE ORGANIZATION FORMED A TAXABLE SUBSIDIARY NAMED UEL REAL ESTATE HOLDINGS, LLC OF WHICH THE ORGANIZATION OWNS 99.9%. THE OTHER .1% IS OWNED BY THE UNIVERSITY OF MINNESOTA FOUNDATION. UEL REAL ESTATE HOLDINGS, LLC ELECTED TO BE TREATED AS A PARTNERSHIP 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. ** THE SUBSIDIARY (UEL REAL ESTATE HOLDINGS, LLC) IS A LIMITED LIABILITY COMPANY AND, AS SUCH, REPORTED THE ORGANIZATION'S SHARE OF ITS 2012 NET RENTAL REAL ESTATE INCOME OF $2,546,167 ON FORM 1065 K-1. THE DETAIL OF THIS INCOME HAS BEEN REPORTED IN THE RESPECTIVE LINES OF PARTS VIII AND IX OF THE FORM 990. UEL REAL ESTATE HOLDINGS LLC 1000 WESTGATE DRIVE ST PAUL MN 55114 202133240 LAB RENTAL TO EMERGING LIFE SCIENCE COMPANIES MN UNIVERSITY ENTERPRISE LABORATORIES INC RELATED 2546167 15232644 0 1 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 UEL REAL ESTATE HOLDINGS LLC N 717100 FAIR MARKET VALUE UEL REAL ESTATE HOLDINGS LLC O 62220 FAIR MARKET VALUE