2026-09-08T07:41:08-05:00 2025-12-31 871353108 Eisner Advisory Group LLC 130 North 18th Street Suite 3000 Philadelphia PA 191032757 990 2025-01-01 231645908 University City Science Center UNIV 2159666000 3675 Market Street Suite 400 Philadelphia PA 19104 Kerry Benson President and CEO 2159666000 2026-09-01 1 HELEN M MARTIN P01330899 2158818800 2025 Kerry Benson 3675 Market Street Suite 400 Philadelphia PA 19104 65376621 0 X www.sciencecenter.org X 1963 PA To power progress that advances healthcare innovation, uplifts communities, and improves lives. 23 22 64 200 0 0 4312864 5575619 11621356 11076628 4873645 6526885 820 -14397 20808685 23164735 266680 294016 0 0 8256916 8364019 0 0 865557 14981386 13909798 23504982 22567833 -2696297 596902 136212671 143261653 29262735 28149945 106949936 115111708 X The Science Center is an innovation intermediary, working at the intersection of startups, health and science, and community. Our work advances economic growth locally and healthcare innovation globally. 0 0 7997206 10931628 Innovation CampusSee Detail Schedule O Narrative 1739402 145000 FirstHand STEM EducationSee Detail Schedule O Narrative 2730686 294016 CommercializationSee Detail Schedule O Narrative 12467294 1 1 0 1 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 1 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 196 0 1 64 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 23 22 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AK AR CA CO CT FL GA HI IL KS KY LA ME MD MA MI MN MS MO NH NJ NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI DC X Lorraine LoPresti CFO 2159666000 3675 Market Street Suite 400 Philadelphia PA 19104 Tiffany Wilson President; CEO (thru June 2026) 40.00 X X 546853 0 65642 Michael A DiPiano Chair 1.00 X X 0 0 0 Christian Eusemann PhD Vice Chair 1.00 X X 0 0 0 Kisha Hortman Hawthorne PhD Vice Chair 1.00 X X 0 0 0 Adam Glasofer Board Member 0.30 X 0 0 0 Aileen Alexander Board Member 0.30 X 0 0 0 Aleister Saunders Board Member 0.30 X 0 0 0 Carol Lee Mitchell Board Member (eff 7/25) 0.30 X 0 0 0 Chellie Cameron Board Member 0.30 X 0 0 0 Donald Generals ED Board Member 0.30 X 0 0 0 Ed Chiosso Board Member (eff 7/25) 0.30 X 0 0 0 Ernest J Dianastasis Board Member 0.30 X 0 0 0 Ivy Silver Board Member 0.30 X 0 0 0 Joseph Cacchione Board Member (eff 7/25) 0.30 X 0 0 0 Josh Gladden PhD Board Member 0.30 X 0 0 0 Kerry Benson Board Member 0.30 X 0 0 0 Kevin Mahoney Board Member 0.30 X 0 0 0 Liv Carter Board Member 0.30 X 0 0 0 Michael Nutter Board Member 0.30 X 0 0 0 Michele Masucci PhD Board Member 1.00 X 0 0 0 Tom Gordon Board Member 0.30 X 0 0 0 Tony Lowman Board Member (eff 7/25) 0.30 X 0 0 0 William Mezzanotte Board Member 0.30 X 0 0 0 Craig R Carnaroli Board Member (thru 6/25) 1.00 X 0 0 0 Dawn A Bonnell PhD Board Member (thru 6/25) 0.30 X 0 0 0 Pat Harker Board Member (thru 6/25) 0.30 X 0 0 0 Jane H Hollingsworth Board Member (thru 6/25) 1.00 X 0 0 0 Kathleen M Shay Board Member (thru 6/25) 1.00 X 0 0 0 Richard Vague Board Member (thru 6/25) 0.30 X 0 0 0 Lorraine LoPresti CFO; VP, Finance & Administration 33.00 7.00 X 301879 66267 50855 Timnyt Abraha VP, Real Estate 5.00 35.00 X 48244 337710 63499 Kevin Baumlin Chief Medical Affairs Officer 40.00 X 299778 0 32973 Tracy Brala VP, Ecosystem Development 40.00 X 392140 0 73743 Heath Nacquin VP, Govt and Capital Engagement 40.00 X 400755 0 73641 Wendy Nickel Chief Program Officer 40.00 X 261824 0 39551 Kristy Traylor VP, People & Operations 30.00 10.00 X 180949 60317 48216 Jennifer Rajchel Sr Director, Digital Transformation 0.00 X 207748 0 46135 Richard Southerland Sr Director, Real Estate 0.00 40.00 X 0 185660 31929 Clayton Moravec III Sr Director, Accounting 26.00 14.00 X 117798 63431 42375 Kristen Fitch Sr Director, Marketing 40.00 X 179991 0 29096 Katherine Nash Sr Director External Affairs 0.00 X 182922 0 58638 3120881 713385 656293 22 0 1 0 Cushman & Wakefield Property Management 1650 Market St 48th Floor philadelphia PA 19103 Property Management 383649 Professional Buildings Services Inc 3936 Miller Road Newtown Square PA 19073 Janitorial Services 354641 Capital Stack Investors 2 Newton Street Belchertown MA 01007 Consultants 296381 SLG-REG LLC 2112 Spring Street Philadelphia PA 19103 Consultants 290000 Cozen O'Connor 1650 Market St 28th Floor Philadelphia PA 19103 legal 259223 9 148679 4358704 1068236 5575619 Rental Income From Exe 532000 9071581 9071581 Equity in Joint Ventur 531390 1860047 1860047 Business & Community N 541900 145000 145000 11076628 2445574 2445574 46217000 42135689 4081311 4081311 4081311 61800 148679 76197 -14397 -14397 23164735 11076628 0 6512488 X 294016 294016 3991816 1050783 2741434 199599 3249086 934730 1955536 358820 177861 74644 103217 546962 140632 296897 109433 398294 120478 230111 47705 103346 103346 246334 7158 239176 183941 8796 175145 150000 150000 2290967 1415315 875652 231893 25500 206393 982222 375936 606286 5716933 4911995 804938 222528 161990 60538 1228514 1203562 24952 2328514 1513287 815227 144145 67419 76726 Security 52241 51580 661 Miscellaneous 23751 6017 17734 Other Taxes 4469 110 4359 22567833 12467294 9234982 865557 3744891 5089724 1086753 1303466 184502 337674 32042752 17752368 16262363 14290384 83753059 94042179 17222499 13213064 2350676 2302183 11607928 12682979 136212671 143261653 3427543 2827308 496923 1359580 17656812 17089770 486025 797306 7195432 6075981 29262735 28149945 X 106709936 114691708 240000 420000 106949936 115111708 136212671 143261653 X 596902 7809171 -244301 X X 0 1 X 1 1 1 X 2314296 3386078 4461000 4312864 5575619 20049857 12985889 37081410 11405913 11621356 11076628 84171196 15300185 40467488 15866913 15934220 16652247 104221053 0 6777843 3341954 3851504 4035704 3435363 21442368 6777843 3341954 3851504 4035704 3435363 21442368 82778685 1316653 1611536 2226926 2234755 2445574 9835444 1316653 1611536 2226926 2234755 2445574 9835444 11266 11661 7671 820 0 31418 16628104 42090685 18101510 18169795 19097821 114087915 0.72560 0.69060 0.08620 0.07850 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 150000 150000 0 Part II-B, Line 1: The University City Science Center (UCSC) 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. 5040230 5040230 11777489 7747727 4029762 12228296 7095478 5132818 2996737 2909163 87574 14290384 Invested Cash 3750000 F Alternative Investments 7818821 F Capital Reserves 1644243 F 13213064 Deferred Rental Income 368591 Deferred Leasing Fees, Net 149959 Planning and Development 185398 Due From Related Party 9266270 Right-of-Use Asset 2712761 12682979 Security Deposits & Other Current Liabilities 402532 Unearned Rent 345018 Deferred Contributions 58167 Lease Liability 4743924 Swap Liability 526340 6075981 X Part X, Line 2: The Science Center is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, although its consolidated entities, the Park, PTI, and SCEC, are for-profit entities which are subject to income taxes. Total federal and state income tax expense from the consolidated entities was $280,000 and $55,000 for each of the years ended December 31, 2025 and 2024, respectively. U.S. GAAP requires 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, 2025 and 2024, 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 would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. There were no income tax related interest and penalties recorded for either of the years ended December 31, 2025 or 2024. Middle East and North Africa - Algeria, Bahrain, Djibouti, Egypt, 1 1 Program Services Program Operations 46527 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 1 1 Program Services Program Operations - IT 1554 North America - Canada and Mexico, but not the United States 1 1 Program Services Program Operations - HR 6629 3 3 0 0 3 3 54710 0 54710 0 0 0 0 0 0 Nucleus 210479 148679 61800 25126 14188 36883 210479 148679 61800 25126 14188 36883 76197 -14397 1 Founder's Fellowship fellow stipends 17 263000 Capital Readiness Program stipends 15 31000 Part I, Line 2: Grant award documentation and applicable laws are reviewed 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 with all appropriate organizational staff, with oversight provided by an executive staff member. Upon termination of the award, all required close out materials are submitted. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Tiffany Wilson President; CEO (thru June 2026) 403788 0 138971 0 4094 0 36652 0 28990 0 612495 0 0 0 Heath Nacquin VP, Govt and Capital Engagement 299017 0 90418 0 11320 0 35509 0 38132 0 474396 0 0 0 Tracy Brala VP, Ecosystem Development 299624 0 92000 0 516 0 36717 0 37026 0 465883 0 0 0 Timnyt Abraha VP, Real Estate 36778 257447 11029 77205 437 3058 4590 32127 3348 23434 56182 393271 0 0 Lorraine LoPresti CFO; VP, Finance & Administration 227744 49993 70764 15534 3371 740 28008 6148 13693 3006 343580 75421 0 0 Kevin Baumlin Chief Medical Affairs Officer 229986 0 69000 0 792 0 30597 0 2376 0 332751 0 0 0 Wendy Nickel Chief Program Officer 261824 0 0 0 0 0 0 0 39551 0 301375 0 0 0 Kristy Traylor VP, People & Operations 139581 46527 40754 13585 614 205 18209 6070 17953 5984 217111 72371 0 0 Jennifer Rajchel Sr Director, Digital Transformation 178545 0 27715 0 1488 0 20494 0 25641 0 253883 0 0 0 Katherine Nash Sr Director External Affairs 151851 0 29720 0 1351 0 18058 0 40580 0 241560 0 0 0 Clayton Moravec III Sr Director, Accounting 100762 54257 15909 8567 1127 607 10406 5603 17138 9228 145342 78262 0 0 Richard Southerland Sr Director, Real Estate 0 159242 0 24411 0 2007 0 17234 0 14695 0 217589 0 0 Kristen Fitch Sr Director, Marketing 155069 0 23569 0 1353 0 16419 0 12677 0 209087 0 0 0 Part I, Line 1a The Science Center reimburses the President/CEO of the Center for dues paid for a social club membership used for business-related activities. Part I, Line 3 See Schedule O Narrative - Form 990, Part VI, Section B, Line 15. Form 990, Part III, Line 4a, Program Service Accomplishments Innovation Campus In 1963 the Science Center was built on the foundation of real estate at a time when labs and research facilities were needed for cross disciplinary and cross-institutional collaborations. Our focus on providing researchers and entrepreneurs with the resources to advance the commercialization of their technologies hasn't changed over the last 60+ years. The way we serve them has evolved with the changing needs of the ecosystem and now includes a combination of physical space and programs to advance health and science innovation. Today, the Science Center owns laboratory and office space within the larger uCity Square campus developed in partnership with Wexford Science + Technology and Ventas, Inc. Additionally, the Science Center operates Quorum, a 15,000 square foot conference center and community space for Greater Philadelphia's innovation community. Quorum's two-pronged approach to convening includes a free 5,000 square foot drop-in lounge serving as an open workspace and informal meeting location and a 10,000 square foot meeting facility available to rent. In 2025, Quorum attracted nearly 11,500 participants to over 250 meetings and events. Since Quorum's inception in 2011, over 200,000 visitors have joined over 2,000 events on a wide array of business-related topics. uCity Square is a partnership that includes Wexford and Ventas and consists of 27 acres, 20 buildings, 200+ companies and over 15,000 people. Form 990, Part III, Line 4b, Program Service Accomplishments FirstHand STEM Education The Science Center's FirstHand STEM education program offers free year-round, project-based learning experiences for middle and high school students in Philadelphia. Based out of a dedicated lab within uCity Square's innovation ecosystem, FirstHand's industry-informed curricula provides hands-on learning to see themselves as STEM enthusiasts and open their eyes to a breadth of STEM careers. In 2025, FirstHand supported 315 students from 49 Philadelphia middle and high schools and engaged 143 mentors from 32 life sciences and healthcare companies. Since the program launched in 2014, 3,036 middle and high school students from 125 schools across Philadelphia have been supported through multiweek programming. Form 990, Part III, Line 4c, Program Service Accomplishments Commercialization: Startup Support Programs Science Center startup support programs are focused on derisking health tech and life sciences startups with an emphasis on commercialization, customer discovery, and stakeholder engagement. This support creates a more direct path from innovation to market adoption and ultimately greater impact for the economy locally and healthcare globally. In 2025, the Science Center's Capital Readiness Program supported 90 startups who raised over $102M. This includes 32M raised by alumni based on Greater Philadelphia, and $2.8M in SBIR/STTR awards received as a result of the Science Center's support. Founders Fellowship The Founders Fellowship is designed to support emerging life sciences entrepreneurs focused on solutions for aging/Alzheimer's. The Fellows are embedded at the Science Center for 12 months with the first six working alongside startup companies to learn the fundamentals of running a business. The second six months give the Fellows an opportunity to apply those lessons learned when transforming their research into reality and developing a pathway to market. Each fellow receives a $50K stipend, access to lab space, and 12-months of business building support from the Science Center's vast network of subject matter experts. In 2025, the Science Center completed the third cohort, supporting five fellows, launched the fourth cohort of five fellows, and engaged 49 mentors and subject matter experts to enrich the fellows' understanding of entrepreneurship and the aging population. Capital Readiness Program The Capital Readiness Program helps health tech founders pursuing their first round of institutional investment confidently navigate the fundraising process. Over the course of a week, a cohort of 10 startups undergo a due diligence deep dive covering financial, legal, technical, and operational considerationswhile sharpening their leadership skills. Startups receive direct feedback from active investors and healthcare stakeholders. In 2025, the Science Center successfully ran three Capital Readiness Program cohorts supporting 29 companies, convening 13 Investors-in-Residence and 27 subject matter experts. Capital Readiness Program alumni raised a total of $102M in 2025. To date, the Capital Readiness Program has supported 109 companies who have raised over $134M and attracted 35 investors to Philadelphia. Federal Funding Support The Science Center helps companies secure and manage federal funding through a full-spectrum support model, from crafting high-quality proposals and managing consortia to overseeing award administration and leveraging government relationships. This included helping early-stage companies win highly competitive SBIR/STTR awards and supporting the Technical and Business Assistance (TABA) needs of 27 Philadelphia-based companies participating in the City's SBIR/STTR Matching Grant program. In 2025, the Science Center hosted four SBIR/STTR workshops attracting 68 participants. Companies who engaged the Science Center in SBIR/STTR proposal development went on to win $2.8M in awards. The team also engaged 15 companies, resulting in three abstracts and two full proposals submitted to agencies including ARPA-H, DARPA, and NIH. U.S. Market Access Program The US Market Access Program enables companies to get a foothold in the US healthcare market. In 2025 the Science Center continued its focus on cultivating top Israeli health technology startups for commercialization in the U.S. The Science Center partnered with Startup Nation Central to support 10 vetted Israeli startups with virtual and in-person curriculum related to U.S. investment, clinical trials and pilots, and stakeholder engagement. The Science Center has supported over 50 global companies since 2022 who have gone on to raise over $80M since participating in the U.S. Market Access Program, the majority of which have active ties to the U.S. market, including clinical trials, pilots, revenue-generating contracts, U.S. investors, and/or U.S.-based advisors or team members. Trend Weeks Science Center Trend Weeks provide a structured environment for key decision-makers in the healthcare sector to establish and strengthen relationships. Each Trend week focuses on a timely topic and consists of a curated Think Tank and Salon Dinner. These gatherings bring together diverse perspectives and generate meaningful conversation and actionable solutions. Three 2025 Trend Weeks engaged more than 200 local and national healthcare stakeholders around topics including Healthcare Innovation for All: Harnessing Technology for Greater Accessibility, How AI is Revolutionizing Nursing Innovation, and Redefining Cancer Care: from Prevention to Breakthrough Treatment. Venture Cafe Philadelphia Part of the Venture Cafe Global Network, Venture Cafe Philadelphia connects a community of innovators through free, high-impact programming focused on innovation and entrepreneurship. The bi-weekly events regularly draw a diverse group of stakeholders across the Greater Philadelphia ecosystem. In 2025 Venture Cafe attracted 100 visitors and engaged over 10 speakers. Since it launched in 2019, Venture Cafe has attracted 34,000 participants to close to 300 Thursday Gatherings. Volunteers The Science Center has a vast network of volunteers enthusiastic to support our mission in a multitude of capacities. In 2025 the Science Center benefited from the time and expertise of over 200 volunteers. Our startup support programs and services engaged over 70 subject matter experts to advise startups and founders via one-on-one meetings and in small interactive lectures. Venture Cafe attendees benefited from the expertise of over 10 speakers, presenters, and subject matter experts. In 2025 the FirstHand programming was aided by over 140 mentors from 32 STEM mentor companies who assisted in hands-on experiments and helped design curricula. Form 990, Part VI, Section A, line 6 The ownership of shares of the corporation is restricted to organizations 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: In conjunction with 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 B, line 11b The completed 990 is presented for review and discussion by the audit committee, and is subsequently made available to the entire board of directors. Form 990, Part VI, Section B, line 12c Each board member and executive 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. Form 990, Part VI, Section B, line 15 The Science Center hired Career Concepts Inc. (CCI) in spring and summer 2024 to review CEO and executive compensation and provide benchmark information on salary and incentive compensation. An array of 501(c)(3) 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 the study were and have been incorporated into annual review and compensation planning for the CEO and her 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 IX, line 11g Other fees: Program service expenses 1,415,315. Management and general expenses 875,652. Fundraising expenses 0. Total expenses 2,290,967. Form 990, Part XI, line 9: Net unrealized gains (losses) on swap valuation -244,301. Form 990, Part XII, Line 2c There has been no change during the current period by the Science Center in the audit oversight or independent auditor selection process. Whaley Partners LP 3675 Market Street Suite 400 Philadelphia PA 19104 208824011 Investment PA University City Science Center Related 133178 0 0 0.80070 Phase I Ventures LLC 3675 Market Street Suite 400 Philadelphia PA 19104 474150042 Technology Accelerator PA University City Science Center Related 18953 1105105 0 1 0.43930 3701 Limited Partnership I 3675 Market Street Suite 400 Philadelphia PA 19104 300172434 Investment PA N/A 0 0 Port of Technology Inc 3675 Market Street Suite 400 Philadelphia PA 19104 233054794 Investment PA University City Science Center C 1.00000 0 Research Park Inc 3675 Market Street Suite 400 Philadelphia PA 19104 232671100 Services - Real Estate Mgmt PA University City Science Center C 249853 138435 1.00000 0 SCEC Ventures Inc 3675 Market Street Suite 400 Philadelphia PA 19104 474043064 Property Development PA University City Science Center C 552115 1913393 1.00000 0 3701 Limited Partnership GP I Inc 3675 Market Street Suite 400 Philadelphia PA 19104 562383457 Investment PA University City Science Center C 1.00000 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 Research Park Inc M 184601 Research Park Inc - Net Intercompany Change Q -119407 Research Park Inc J 29060 Phase Ventures LLC - Net Intercompany Change Q -4325