Civic Intelligence

Hershey Center for Applied Research Inc

990 • Fiscal year 2014 • EIN 20-4169577

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 13, 2015

17190 Bernardo Center DriveSan Diego, CA 92128

(858) 485-9840

Siviq Scores

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

Liabilities / Assets

97th percentile

1.26x

Higher debt load relative to assets than 97% of similar nonprofits.

2014 filings • 501(c)4 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

95th percentile

1.21x

Higher debt load relative to revenue than 95% of similar nonprofits.

2014 filings • 501(c)4 • <$500k nonprofits • Source year 2014

Net Margin

18th percentile

-14%

Higher net margin than 18% of similar nonprofits.

2014 filings • 501(c)4 • <$500k nonprofits • Source year 2014

Top Officer Pay

85th percentile

$0

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)4 • <$500k nonprofits • Source year 2014

Asset Growth

98th percentile

301%

Faster asset growth than 98% of similar nonprofits.

2014 filings • 501(c)4 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

84th percentile

28%

Faster revenue growth than 84% of similar nonprofits.

2014 filings • 501(c)4 • <$500k nonprofits • Annualized from 2013 to 2014

Assets

Up

$195,493

Up $146,725 (+301%) from 2013

Net Assets

Down

-$49,913

Down $73,823 (-309%) from 2013

Liabilities

Up

$245,406

Up $220,548 (+887%) from 2013

Revenue

Up

$202,031

Up $43,881 (+28%) from 2013

Expenses

Up

$230,894

Up $21,384 (+10%) from 2013

Net Income

Up

-$28,863

Up $22,497 (+44%) from 2013

Historical Trend

Balance Sheet Trend

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

$2.0M$1.0M$0-$1.0M-$2.0MAssets 2013: $48,768Liabilities 2013: $24,858Net Assets 2013: $23,9102013Assets 2014: $195,493Liabilities 2014: $245,406Net Assets 2014: -$49,9132014Assets 2015: $495,213Liabilities 2015: $542,703Net Assets 2015: -$47,4902015Assets 2020: $31,066Liabilities 2020: $714,500Net Assets 2020: -$683,4342020Assets 2021: $83,370Liabilities 2021: $1,097,031Net Assets 2021: -$1,013,6612021Assets 2022: $22,334Liabilities 2022: $1,293,573Net Assets 2022: -$1,271,2392022Assets 2023: $22,843Liabilities 2023: $1,502,519Net Assets 2023: -$1,479,6762023Assets 2024: $29,095Liabilities 2024: $1,728,743Net Assets 2024: -$1,699,6482024

Highlighted filing

2014

Assets$195,493
Liabilities$245,406
Net Assets-$49,913

Operations Trend

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

$500K$0-$500KRevenue 2013: $158,150Expenses 2013: $209,510Net Income 2013: -$51,3602013Revenue 2014: $202,031Expenses 2014: $230,894Net Income 2014: -$28,8632014Revenue 2015: $319,475Expenses 2015: $317,052Net Income 2015: $2,4232015Revenue 2020: $278,164Expenses 2020: $450,512Net Income 2020: -$172,3482020Revenue 2021: $116,592Expenses 2021: $446,819Net Income 2021: -$330,2272021Revenue 2022: $206,995Expenses 2022: $464,573Net Income 2022: -$257,5782022Revenue 2023: $245,885Expenses 2023: $454,322Net Income 2023: -$208,4372023Revenue 2024: $270,324Expenses 2024: $490,296Net Income 2024: -$219,9722024

Highlighted filing

2014

Revenue$202,031
Expenses$230,894
Net Income-$28,863
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 13, 2015
Return Version
2014v5.0
Gross Receipts
$202,031
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$12,177$191,183▲ $179,006
Accounts Receivable$36,591$4,310▼ $32,281
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$48,768$195,493▲ $146,725
Other Assets Total$0$0→ $0
Liabilities
Unsecured Notes Loans Payable$0$244,231▲ $244,231
Accounts Payable and Accrued Expenses$19,858$0▼ $19,858
Other Liabilities$5,000$1,175▼ $3,825
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$24,858$245,406▲ $220,548
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$23,910$-49,913▼ $73,823
Total Net Assets Fund Balance$23,910$-49,913▼ $73,823
Total Liabilities and Net Assets / Fund Balance$48,768$195,493▲ $146,725

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$6,905,744$6,905,744
Equipment$0$11,994$11,994
Compensation and Service Providers

Board Members and Trustees

NameTitle
Vincent B RudisillPresident and Secretary
Daniel Notterman MdVice Chairman
James R BerensVice President & Treasurer
David E BlackDirector
Keith S MarmerDirector
Todd PagliaruloDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$202,031
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-28,863
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$230,894
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$112,314--$112,314
Fees for Services Lobbying$59,245--$59,245
Advertising$35,242--$35,242
Fees for Services Accounting-$5,900-$5,900
Other Expenses$5,589$7,298-$5,589
Insurance$3,908--$3,908
Office Expenses-$1,398-$1,398
Total Functional Expenses$216,298$14,596$0$230,894
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$1,175
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

Review of form 990 a draft of form 990 is reviewed & authorized by a member of the board of directors prior to filing with the irs. Additionally, a copy of the form 990 is provided to the board prior to filing.

Form 990, Part VI, Section C, Line 19

Governing documents and policies the organization's form 990, governing documents and policies are available for public inspection at the organization's office during regular business hours upon request.

Filing and Contact Details

Filer

Filer Name
Hershey Center for Applied Research Inc
EIN
20-4169577
In Care Of
% JAMES R BERENS
Phone
8584859840
Address
17190 BERNARDO CENTER DRIVE, SAN DIEGO, CA 92128

Signing Officer

Name
Mandi Schalon
Title
Tax Director
Signed
2015-11-13

Organization Details

Principal Officer
James R Berens
Formed
2006
Legal Domicile
Pa
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Ernst & Young US Llp
Address
4370 La Jolla Village Dr Ste 500, San Diego, CA 92122-1249
Preparer
Eva Nitta
Phone
8585357200
Supplemental Narrative

Additional Explanations

From 990, Part I, Line 1 & Part III, Line I

Organization's mission statement hershey center for applied research, inc's mission is: 1. Position hershey center for applied research as an integral part of the community dedicated to the purpose of bringing vital new life sciences and technology-based businesses to the south central pennsylvania region in order to promote economic development, employment, and retention of a skilled and educated labor force. 2. Facilitate the creation of new business through the transfer of technology and business skills among university, industry, government and non-profit institutions through educational courses, assistance with grant applications, and numerous networking opportunities. 3. Further stimulate economic development by hosting community events throughout the year to promote local businesses, local artists and musicians through the farmers market & summer concert series held weekly from may through october. 4. Provide a variety of programs free of charge to the community, such as our innovation caf, new tech meetup, entrepreneur's roundtable, sbir/sttr training, tech celerator, and attorney office hours.

Form 990, Part III - Program Service, Line 4A

We continue to develop the innovation/start up community component of hcar. Many of these activities are done in conjunction with the office of technology development penn state milton s. Hershey college of medicine. All educational programming in this regard is done together. In 2014, 20 educational sessions were held targeting this activity. The programming included: innovation cafe-monthly/bi-monthly techcelerator-quarterly sbir training-biannual technology development series-quarterly faculty entrepreneur club-monthly entrepreneur's round table-bi-monthly in addition, we continue our goal of fostering economic development within the local community through our farmer's market & summer concert series. This program brings together local businesses, farmer's, artists, and musicians on a weekly basis during may to october and is free to the community. There are also free healthcare checks available to the community during the events. We also held 40 meetings aimed at economic development which ranged from meetings with local, state, and regional leaders to unite and work in tandem toward economic initiatives, to direct prospect development meetings, to community meetings and activity that help attract and retain talent in our region.

Form 990, Part XI, Line 9

Other changes in net assets purchase price adjustment $(44,960)

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt011994
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt06905744
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01175
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION'S MISSION STATEMENT HERSHEY CENTER FOR APPLIED RESEARCH, INC'S MISSION IS: 1. POSITION HERSHEY CENTER FOR APPLIED RESEARCH AS AN INTEGRAL PART OF THE COMMUNITY DEDICATED TO THE PURPOSE OF BRINGING VITAL NEW LIFE SCIENCES AND TECHNOLOGY-BASED BUSINESSES TO THE SOUTH CENTRAL PENNSYLVANIA REGION IN ORDER TO PROMOTE ECONOMIC DEVELOPMENT, EMPLOYMENT, AND RETENTION OF A SKILLED AND EDUCATED LABOR FORCE. 2. FACILITATE THE CREATION OF NEW BUSINESS THROUGH THE TRANSFER OF TECHNOLOGY AND BUSINESS SKILLS AMONG UNIVERSITY, INDUSTRY, GOVERNMENT AND NON-PROFIT INSTITUTIONS THROUGH EDUCATIONAL COURSES, ASSISTANCE WITH GRANT APPLICATIONS, AND NUMEROUS NETWORKING OPPORTUNITIES. 3. FURTHER STIMULATE ECONOMIC DEVELOPMENT BY HOSTING COMMUNITY EVENTS THROUGHOUT THE YEAR TO PROMOTE LOCAL BUSINESSES, LOCAL ARTISTS AND MUSICIANS THROUGH THE FARMERS MARKET & SUMMER CONCERT SERIES HELD WEEKLY FROM MAY THROUGH OCTOBER. 4. PROVIDE A VARIETY OF PROGRAMS FREE OF CHARGE TO THE COMMUNITY, SUCH AS OUR INNOVATION CAF, NEW TECH MEETUP, ENTREPRENEUR'S ROUNDTABLE, SBIR/STTR TRAINING, TECH CELERATOR, AND ATTORNEY OFFICE HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WE CONTINUE TO DEVELOP THE INNOVATION/START UP COMMUNITY COMPONENT OF HCAR. MANY OF THESE ACTIVITIES ARE DONE IN CONJUNCTION WITH THE OFFICE OF TECHNOLOGY DEVELOPMENT PENN STATE MILTON S. HERSHEY COLLEGE OF MEDICINE. ALL EDUCATIONAL PROGRAMMING IN THIS REGARD IS DONE TOGETHER. IN 2014, 20 EDUCATIONAL SESSIONS WERE HELD TARGETING THIS ACTIVITY. THE PROGRAMMING INCLUDED: INNOVATION CAFE-MONTHLY/BI-MONTHLY TECHCELERATOR-QUARTERLY SBIR TRAINING-BIANNUAL TECHNOLOGY DEVELOPMENT SERIES-QUARTERLY FACULTY ENTREPRENEUR CLUB-MONTHLY ENTREPRENEUR'S ROUND TABLE-BI-MONTHLY IN ADDITION, WE CONTINUE OUR GOAL OF FOSTERING ECONOMIC DEVELOPMENT WITHIN THE LOCAL COMMUNITY THROUGH OUR FARMER'S MARKET & SUMMER CONCERT SERIES. THIS PROGRAM BRINGS TOGETHER LOCAL BUSINESSES, FARMER'S, ARTISTS, AND MUSICIANS ON A WEEKLY BASIS DURING MAY TO OCTOBER AND IS FREE TO THE COMMUNITY. THERE ARE ALSO FREE HEALTHCARE CHECKS AVAILABLE TO THE COMMUNITY DURING THE EVENTS. WE ALSO HELD 40 MEETINGS AIMED AT ECONOMIC DEVELOPMENT WHICH RANGED FROM MEETINGS WITH LOCAL, STATE, AND REGIONAL LEADERS TO UNITE AND WORK IN TANDEM TOWARD ECONOMIC INITIATIVES, TO DIRECT PROSPECT DEVELOPMENT MEETINGS, TO COMMUNITY MEETINGS AND ACTIVITY THAT HELP ATTRACT AND RETAIN TALENT IN OUR REGION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEW OF FORM 990 A DRAFT OF FORM 990 IS REVIEWED & AUTHORIZED BY A MEMBER OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. ADDITIONALLY, A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS AND POLICIES THE ORGANIZATION'S FORM 990, GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE DURING REGULAR BUSINESS HOURS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER CHANGES IN NET ASSETS PURCHASE PRICE ADJUSTMENT $(44,960)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FROM 990, PART I, LINE 1 & PART III, LINE I
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III - PROGRAM SERVICE, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MANDI SCHALON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TAX DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HERSHEY CENTER FOR APPLIED RESEARCH INC
ReturnHeader/Filer/BusinessNameControlTxt0HERS
ReturnHeader/Filer/EIN0204169577
ReturnHeader/Filer/InCareOfNm0% JAMES R BERENS
ReturnHeader/Filer/PhoneNum08584859840
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ReturnHeader/Filer/USAddress/CityNm0SAN DIEGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092128
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERNST & YOUNG US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04370 La Jolla Village Dr Ste 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0San Diego
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0921221249
ReturnHeader/PreparerPersonGrp/PhoneNum08585357200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EVA NITTA
ReturnHeader/ReturnTs02015-11-16T12:58:20-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

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