University City Science Center

“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.”

“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.”

“The completed 990 is presented for review and discussion by the audit committee, and is subsequently made available to the entire board of directors.”

“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.”

“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.”

“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.”

“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 2024, Quorum attracted over 14,000 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.”

“FirstHand STEM Education FirstHand 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. Since the program launched in 2014, 2,867 middle and high school students from 107 schools across Philadelphia have been supported through multiweek programming. In 2024, FirstHand supported 345 students from 51 Philadelphia middle and high schools and engaged 121 mentors from 31 life sciences and healthcare companies.”

“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 2024, the Science Center supported 63 founders and 57 startups who raised over $13.5M. Ninety percent of startup founders were undercapitalized (undercapitalized includes female, LGBTQ+, Race & Ethnicity other than White & Caucasian, disabled, served in the armed forces, low income, first-generation graduate, immigrant, and first-generation U.S. citizens - or a combination of those). 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. In 2024, the Science Center completed the second cohort, supporting four fellows, launched the third cohort of five fellows, and engaged 40 mentors and subject matter experts to enrich the fellows' understanding of entrepreneurship and the aging population. 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. 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, 10 startups undergo a due diligence deep divecovering financial, legal, technical, and operational considerations while sharpening their leadership skills. Startups receive direct feedback from active investors and healthcare stakeholders. In 2024, the Science Center successfully ran three Capital Readiness Program cohorts supporting 30 companies from around the world, convening 14 Investors-in-Residence and 22 subject matter experts. The March 2024 and June 2024 cohorts raised a total of $13.5M in 2024. To date, the Capital Readiness Program has supported 80 companies who have raised over $38M and attracted 29 investors to Philadelphia. SBIR/STTR Support In 2024 the Science Center doubled down on connecting entrepreneurs and startups with non-dilutive funding opportunities. SBIR/STTR webinars and in-person workshops focused on crafting competitive proposals tailored to the NIH's unique requirements and the Science Center's Technical and Business Assistance (TABA) services were introduced to support awardees with commercialization, marketing, and legal guidance. This tailored mentorship and strategic guidance empowers founders to identify and pursue not just any funding source, but the right funding opportunities. In 2024 the Science Center attracted over 50 attendees to two SBIR/STTR 101 webinars and two in-person intensive workshops. U.S. Market Access Program The US Market Access Program enables companies to get a foothold in the US healthcare market. In 2024 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 22 vetted Israeli startups with curriculum and connections 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 contrac”

“Other: Program service expenses 1,485,043. Management and general expenses 1,065,483. Fundraising expenses 0. Total expenses 2,550,526.”

“Gain on swap valuation 412,813.”

“There has been no change during the current period by the Science Center in the audit oversight or independent auditor selection process.”