Civic Intelligence

Downstate Technology Center Inc.

990 • Fiscal year 2012 • EIN 11-3600385

Jul 01, 2011 to Jun 30, 2012 • Filed on Mar 06, 2013

450 Clarkson Ave Box 6511203
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

100th percentile

7.26x

Higher debt load relative to assets than 100% of similar nonprofits.

2012 filings • NTEE S • $1M-$5M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

97th percentile

131%

Faster asset growth than 97% of similar nonprofits.

2012 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Assets

Up

$423,586

Up $239,961 (+131%) from 2011

Net Assets

Up

-$2,653,464

Up $80,105 (+2.9%) from 2011

Liabilities

Up

$3,077,050

Up $159,856 (+5.5%) from 2011

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$1,077,398

Down $165,325 (-13%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2010: $199,875Liabilities 2010: $2,786,588Net Assets 2010: -$2,586,7132010Assets 2011: $183,625Liabilities 2011: $2,917,194Net Assets 2011: -$2,733,5692011Assets 2012: $423,586Liabilities 2012: $3,077,050Net Assets 2012: -$2,653,4642012Assets 2013: $307,910Liabilities 2013: $2,994,245Net Assets 2013: -$2,686,3352013Assets 2014: $290,586Liabilities 2014: $1,490,238Net Assets 2014: -$1,199,6522014Assets 2015: $328,565Liabilities 2015: $1,933,188Net Assets 2015: -$1,604,6232015Assets 2016: $634,219Liabilities 2016: $940,672Net Assets 2016: -$306,4532016Assets 2017: $1,044,754Liabilities 2017: $1,283,536Net Assets 2017: -$238,7822017Assets 2018: $1,753,684Liabilities 2018: $805,312Net Assets 2018: $948,3722018Assets 2019: $2,532,324Liabilities 2019: $865,734Net Assets 2019: $1,666,5902019Assets 2020: $2,973,920Liabilities 2020: $1,130,589Net Assets 2020: $1,843,3312020Assets 2021: $3,152,319Liabilities 2021: $996,971Net Assets 2021: $2,155,3482021Assets 2022: $3,493,508Liabilities 2022: $830,344Net Assets 2022: $2,663,1642022Assets 2023: $4,034,760Liabilities 2023: $772,957Net Assets 2023: $3,261,8032023Assets 2024: $4,793,757Liabilities 2024: $955,470Net Assets 2024: $3,838,2872024

Highlighted filing

2012

Assets$423,586
Liabilities$3,077,050
Net Assets-$2,653,464

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,265,9462010Expenses 2011: $1,242,7232011Expenses 2012: $1,077,3982012Revenue 2013: $1,007,654Expenses 2013: $1,040,525Net Income 2013: -$32,8712013Revenue 2014: $2,555,141Expenses 2014: $1,068,458Net Income 2014: $1,486,6832014Revenue 2015: $724,722Expenses 2015: $1,129,693Net Income 2015: -$404,9712015Revenue 2016: $2,559,406Expenses 2016: $1,261,236Net Income 2016: $1,298,1702016Revenue 2017: $1,750,432Expenses 2017: $1,682,761Net Income 2017: $67,6712017Revenue 2018: $2,857,002Expenses 2018: $1,669,848Net Income 2018: $1,187,1542018Revenue 2019: $2,528,930Expenses 2019: $1,810,712Net Income 2019: $718,2182019Revenue 2020: $1,893,742Expenses 2020: $1,717,001Net Income 2020: $176,7412020Revenue 2021: $2,271,383Expenses 2021: $1,959,366Net Income 2021: $312,0172021Revenue 2022: $2,642,146Expenses 2022: $2,134,330Net Income 2022: $507,8162022Revenue 2023: $2,713,773Expenses 2023: $2,115,134Net Income 2023: $598,6392023Revenue 2024: $3,055,622Expenses 2024: $2,479,138Net Income 2024: $576,4842024

Highlighted filing

2012

Revenue-
Expenses$1,077,398
Net Income-
Jump To
Filing Snapshot
Filing Period
Jul 1, 2011 to Jun 30, 2012
Signed
Mar 6, 2013
Return Version
2011v1.5
Gross Receipts
$1,157,503
Mission and Program Overview

Mission

See schedule odownstate technology center, inc. (dtc) was formed to provide an environment in which new and technologically innovative businesses can develop scientific and medical research that can be translated into commercially viable high technology products and services and/or rental space in incubator and research facilities in brooklyn, new york. To accomplish this, dtc has designed and developed and currently operates state-of-the-art incubator facilities where it leases wet laboratory and office space to biotechnology and other life sciences companies to conduct cutting edge research and development.

Major Activities

Activity 2
Dtc develops and offers rental space that meets the requirements of new and technologically innovative businesses. Dtc manages two buildings, which served fifteen tenants in one building and five tenants in the other.
Filing and Contact Details

Filer

EIN
11-3600385
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0THE ORGANIZATION HOLDS SECURITY DEPOSITS FOR TENANTS IN AN ESCROW ACCOUNT UNTIL THE END OF THE LEASE. ONCE THE END OF THE LEASE OCCURS, AND THE ORGANIZATION VERIFIES THAT NO DAMAGE OR REPAIRS NEEDS TO BE DONE TO THE PROPERTY THAT WAS BEING LEASED, THE SECURITY DEPOSIT IS RETURNED TO THE TENANT. THE SECURITY DEPOSIT RETURNED TO THE TENANT IS NET OF ANY OUTSTANDING FEES.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1DTC RECOGNIZES THE EFFECT OF TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT DTC HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. DTC IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO JUNE 30, 2009.
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IRS990ScheduleD/OtherAssets/Description0SECURITY DEPOSITS
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IRS990ScheduleD/OtherLiabilities/Amount11580659
IRS990ScheduleD/OtherLiabilities/Amount2478298
IRS990ScheduleD/OtherLiabilities/Description0DUE TO STATE U. OF NY DOWNSTATE MEDICAL CENTER
IRS990ScheduleD/OtherLiabilities/Description1DUE TO RESEARCH FOUNDATION OF STATE U OF NY
IRS990ScheduleD/OtherLiabilities/Description2DUE TO HEALTH SCIENCE CENTER AT BROOKLYN FOUNDATION, INC.
IRS990ScheduleD/RevenueNotRptdF9900300000
IRS990ScheduleD/RevenueNotRptdOnFinStmt00
IRS990ScheduleD/RevenueSubtotal01157503
IRS990ScheduleD/TotalBookValueOtherAssets057828
IRS990ScheduleD/TotalExpenses01077398
IRS990ScheduleD/TotalExpensesPerForm99001077398
IRS990ScheduleD/TotalOfAmounts02930781
IRS990ScheduleD/TotalOfBookValueLandBuildings00
IRS990ScheduleD/TotalRevenue01157503
IRS990ScheduleD/TotalRevenuePerForm99001157503
IRS990ScheduleD/TotExpensesEtcAuditedFinclStmt01377398
IRS990ScheduleD/TotRevenueEtcAuditedFinclStmt01457503
IRS990/ScheduleJRequired00
IRS990ScheduleO/GeneralExplanation/Explanation0THE ORGANIZATION HAS TWO MEMBERS: THE RESEARCH FOUNDATION OF THE STATE UNIVERSITY OF NEW YORK AND THE HEALTH SCIENCE CENTER AT BROOKLYN FOUNDATION INC.
IRS990ScheduleO/GeneralExplanation/Explanation1EACH MEMBER OF THE ORGANIZATION IS ALLOWED TO ELECT FOUR TRUSTEES TO REPRESENT THEM. IN ADDITION, THE MEMBERS ELECT TWO TRUSTEES JOINTLY. THE TRUSTEES DIRECT THE MANAGEMENT AND OPERATION OF THE CORPORATION.
IRS990ScheduleO/GeneralExplanation/Explanation2DOWNSTATE TECHNOLOGY CENTER INC. HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. AFTER THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING.
IRS990ScheduleO/GeneralExplanation/Explanation3THE CONFLICT OF INTEREST POLICY APPLIES TO DIRECTORS, AND OFFICERS OF THE ORGANIZATION. THE CONFLICT OF INTEREST POLICY IS UPDATED AS NEEDED. THE LAST UPDATE WAS ON AUGUST 8, 2011. IT IS THE RESPONSIBILITY OF THE DIRECTORS AND OFFICERS TO NOTIFY DTC OF ANY POTENTIAL CONFLICTS AS THEY ARISE. THE BOARD OF DIRECTORS WILL DETERMINE, BASED ON THE FACTS, IF A CONFLICT ACTUALLY EXISTS. IF THE BOARD DETERMINES THAT A CONFLICT EXISTS, THE AFFECTED DIRECTOR OR OFFICER SHALL ABSTAIN FROM VOTING ON THE MATTER. THE AFFECTED DIRECTOR OR OFFICER MAY PARTICIPATE IN DISCUSSIONS ON THE MATTER IN QUESTION ONLY IF ASKED FOR INFORMATION BY A MAJORITY OF THE REMAINING BOARD MEMBERS. THE AFFECTED DIRECTOR OR OFFICER MUST WITHDRAW FROM THE MEETING CONCERNING THE MATTER IN QUESTION IF REQUESTED BY THE REMAINING BOARD MEMBERS. THE MINUTES OF THE BOARD SHALL REFLECT THE ACTIONS OF THE BOARD OF DIRECTOR AND THE AFFECTED DIRECTOR OR OFFICER.
IRS990ScheduleO/GeneralExplanation/Explanation4FORM 990, PART VI, LINE 15A AND 15B DOWNSTATE TECHNOLOGY CENTER IS AFFILIATED TO SUNY DOWNSTATE MEDICAL CENTER AND THE RESEARCH FOUNDATION OF SUNY, WHICH PAY EMPLOYEE SALARIES DIRECTLY THROUGH THEIR PAYROLL DEPARTMENTS. THE COSTS FOR SALARY AND FRINGE BENEFITS ARE THEN CHARGED BACK TO DTC. SALARIES ARE DETERMINED BY CLASS AND COMPENSATION BASED ON GRADE AND POSITION TITLE. THE STATE AND RESEARCH FOUNDATION SYSTEM HAVE SPECIFIC GUIDELINES ON SALARY AND GRADE LEVEL BASED ON JOB RESPONSIBILITIES.
IRS990ScheduleO/GeneralExplanation/Explanation5THE EXEMPT ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE BY POSTING IT ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, FORM 990 AS WELL AS THE FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST AT 450 CLARKSON AVENUE, BOX 65, BROOKLYN, NY 11203...OR BY CALLING THE ORGANIZATION DIRECTLY AT (718)-270-3176.
IRS990ScheduleO/GeneralExplanation/Explanation6THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART XII, LINE 2C:
IRS990/ScheduleORequired01
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0NY
IRS990/StatesWhereCopyOfReturnIsFiled0NY
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine10450 CLARKSON AVENUE
IRS990/TheBooksAreInCareOf/AddressUS/City0BROOKLYN
IRS990/TheBooksAreInCareOf/AddressUS/State0NY
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode011203
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10SAM KIEL
IRS990/TheBooksAreInCareOf/TelephoneNumber07182704358
IRS990/TotalAssets/BOY0183625
IRS990/TotalAssetsBOY0183625
IRS990/TotalAssets/EOY0423586
IRS990/TotalAssetsEOY0423586
IRS990/TotalCompGT150K00

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.79$0.96$3.84$3.06$2.48$0.58
2023Detailed filing. Detailed filing data is available for this year.$4.03$0.77$3.26$2.71$2.12$0.60
2022Detailed filing. Detailed filing data is available for this year.$3.49$0.83$2.66$2.64$2.13$0.51
2021Detailed filing. Detailed filing data is available for this year.$3.15$1.00$2.16$2.27$1.96$0.31
2020Detailed filing. Detailed filing data is available for this year.$2.97$1.13$1.84$1.89$1.72$0.18
2019Detailed filing. Detailed filing data is available for this year.$2.53$0.87$1.67$2.53$1.81$0.72
2018Detailed filing. Detailed filing data is available for this year.$1.75$0.81$0.95$2.86$1.67$1.19
2017Detailed filing. Detailed filing data is available for this year.$1.04$1.28$0.24$1.75$1.68$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.63$0.94$0.31$2.56$1.26$1.30
2015Detailed filing. Detailed filing data is available for this year.$0.33$1.93$1.60$0.72$1.13$0.40
2014Detailed filing. Detailed filing data is available for this year.$0.29$1.49$1.20$2.56$1.07$1.49
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.31$2.99$2.69$1.01$1.04$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.42$3.08$2.65$1.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$2.92$2.73$1.24
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.20$2.79$2.59$1.27