In-Q-Tel Inc.

“Business relationships there is a business relationship between c. Darby (ceo & trustee) and j. Smith (trustee) as they both serve as board members of the cia officers memorial foundation. There is also a business relationship between c. Darby and s. Bowsher (president), as they both serve as officers or directors of chain bridge i, a special purpose acquisition company, or chain bridge group, the sponsor of chain bridge i, and as they are co-managers of alias partners llc, an investment vehicle.”

“Review of form 990 the form 990 was prepared by the company's external tax advisory firm with the assistance of iqt's finance team. The form 990 was also reviewed by certain members of the company's executive team, including the coo and general counsel. Additionally, the audit and ethics committee of the board of trustees reviewed the form 990 during one of its quarterly meetings. After review by the audit and ethics committee, the form 990 was distributed to all members of the board of trustees prior to filing.”

“Conflict of interest policy disclosure and recusal are required for all conflicts of interest under the conflicts of interest policies for trustees, officers and employees. For every transaction subject to board/committee approval, the members of the board and committee are asked to disclose any conflicts under the policies. For each transaction, iqt also identifies and discloses any conflicts involving iqt trustees, officers and employees. Each trustee, officer and employee who has a conflict is recused from participating in iqt's deliberations of, or votes to authorize, ratify or confirm the transaction that is the subject of the conflict unless a waiver is given by a majority of the disinterested members of the board (in the event of a trustee or officer), the board, or the corporation's ethics officer (in the event of an employee who is not a trustee or officer.) additionally, each year, all iqt trustees and officers are required to complete a questionnaire as to whether the trustees are independent and whether the officers or trustees have a family relationship or a business relationship with any other officer, director, trustee, or key employee of iqt. In addition, throughout the year, employees are required to disclose outside activities as they arise.”

“Compensation explanation in formulating iqt's compensation system, the board of trustees complies with its responsibilities under the internal revenue code of 1986, as amended ("code"), to pay reasonable compensation to iqt's employees and to avoid any "excess benefit transactions" under section 4958 of the code. In overseeing iqt's compensation system, the board adheres to the following principles: - the compensation system is approved by the board or a committee of the board composed entirely of independent trustees who are not employees of, or independent contractors to, iqt. - the board, or committee thereof, obtains and relies upon appropriate compensation data for comparable entities prior to making compensation determinations; and - the basis for its determination is documented concurrently with the board or committee making that determination. Iqt's human resources and compensation committee (the "hr and compensation committee or "committee") has been charged by the board of trustees to assist the board in overseeing iqt's compensation system. Specifically, the committee performs the following duties: - ensures that iqt's compensation program and other employee benefits are comparable to appropriate markets. - conducts an annual review of the chief executive officer's ("ceo's") performance and makes recommendations to the board of trustees on the ceo's compensation and benefits for the next year. - on an annual basis, reviews the ceo's recommendations regarding the compensation and benefits of the other disqualified persons, as defined in section 4958 of the internal revenue code, and determines their compensation and benefits for the next year. - on an annual basis, reviews the determination of compensation and benefits of the other employees made by the ceo or the ceo's designee. - engages an independent compensation consulting firm to perform a periodic study of iqt's compensation program and administration, or parts thereof. (this study includes, but is not limited to, a review of data the company used to benchmark positions, documentation of base salary adjustments, and annual incentive plan awards.) following completion of such study, the compensation consulting firm delivers a report to the human resources and compensation committee discussing iqt's adherence to its compensation policies. - works with iqt's in-house and outside counsel to ensure that iqt's compensation structure and plans comply with internal revenue code and other legal requirements. - keeps the board of trustees informed of key compensation and human resource issues affecting iqt.”

“Documents available to the public iqt does not make this information available to the public.”

“Iqt (in-q-tel, inc.) serves the national security interests of the u.s. Intelligence and national security community and its allies by providing the most sophisticated source of strategic technical knowledge and capabilities.”

“Iqt serves and powers the national security interests of the u.s. Intelligence and national security community and its allies through cutting-edge technology, strategic investments, exploration and applied research, and acceleration of capabilities with the general public being the ultimate beneficiary of iqt's work.”

“Iqt was established in 1999 as an independent, not-for-profit corporation to help the cia and broader us intelligence community identify, adapt, and deliver cutting-edge technologies that address national security needs. Iqt delivers sophisticated insights, investments, and brings unparalleled access to deep technological expertise providing vital assistance to improve this key government function. Approach: - iqt works as a strategic investor, investing in companies to help nascent, dual-use commercial technologies mature into mission-ready products at a lower cost than building from the ground up and other alternative approaches. Iqt's strategic investment model gives it the agility often lacking within traditional government contracting mechanisms. - iqt finds and nurtures entrepreneurs and startup companies that can provide a supply chain of innovation which enables the u.s. Intelligence and national security community and its allies to benefit from commercial technology advances. - unlike traditional government contractors that address limited and direct government needs, iqt helps the u.s. Intelligence and national security community and its allies understand the technology landscape which furthers the overall national security efforts of the government and provides a broad-based benefit to the general public. - iqt also works as a technology accelerator, fostering development and introduction of technologies to improve the national security capabilities of the u.s. Government; iqt's global sourcing, rigorous and thorough market research, and business acumen enable it to provide meaningful insights to u.s. Government partners and take calculated investment risks necessary to adapt and mature nascent, leading-edge technologies to operational readiness to help the united states government (usg) achieve its missions. - an exploratory idea lab providing the usg with insight and access in open-source technologies and leading innovators and thinkers through cutting-edge technology and collaborative research. Identifying innovative technologies: as a strategic investor, iqt scours the globe for startup technologies with dual-use capabilities, delivering insights, technology components and solutions that can be applied to the national security mission and commercial market. These off-the-shelf products do not require long-term development from the ground up. Rather they can be adapted for "ready-soon" testing and use for national security challenges. By focusing on dual use technology, iqt identifies and delivers critical, innovative technology more quickly and cost effectively. The foundational elements of iqt's strategic approach is its rigorous diligence, technology and business acumen, and the agility of technology development efforts - aka work programs - where iqt collaborates with the startup to tailor a company's technology to the capabilities needed by its government partners and invests towards that work program. Iqt designs its strategic investments to accelerate product development and delivery and to help companies add capabilities that will help our government partners function more effectively and efficiently. Iqt also makes modest, equity-only investments. These investments do not include a work program where the technology is modified, yet iqt believes the technology holds potential to contribute to insights and capabilities that support the national security mission, and ultimately the general public. Iqt also serves as a technology consultant and advisor that provides market, technology, and venture capital insights to the u.s. Intelligence and national security community and its allies. Iqt effectively leverages a significant amount of private sector funds, often from top-tier venture capital firms, to co-invest in our portfolio companies. On average, for every dollar that iqt invests in a company, the venture capital community has invested $22 which helps ensure the company has financial backing to maintain”

“In september 2020, iqt labs entered a contract with the office of the director of national intelligence to experiment, test and prototype, and develop techniques to address hard problems which do not have an immediate or obvious commercial solution. In an unclassified environment, iqt labs develops and drives projects where government partners can collaborate in the open-source ecosystem of industry, academic, and technical experts. Iqt labs reflect iqt's nonprofit mission, by developing collaborative arrangements that make private sector and academic technology accessible to the usg, fostering the development of technology that will benefit the public, private, and academic sectors in the us and performing and promoting research in critical technology applications including artificial intelligence and machine learning. Iqt labs are funded, in part, by proceeds from investment realizations on portfolio company exits and the contract with the office of the director of national intelligence (odni). Former cosmiq llc, previously known as spacenet llc and a wholly owned subsidiary of iqt labs llc, continued its work to advance geospatial analytics through open-source contributions and applied research by developing and providing publicly available commercial satellite imagery and labeled training data, as well as open sourcing computer vision algorithms and tools. Iqt introduced a new business unit in january 2021, iqt emerge (iqte llc), a wholly owned subsidiary of iqt. Iqt emerge is teaming with the defense advanced research projects agency (darpa) to help successfully transition u.s. Government-funded technology innovation into national security and commercial markets. Iqt emerge will help darpa scale its embedded entrepreneurship initiative (eei). In support of technology innovators, iqt emerge provides entrepreneurial expertise and expanded connections and access to u.s. Investors and capital and support technology innovators earlier in darpa's development process. This important work delivers an effective counter to aggressive foreign investors by building stronger companies that have the ability to attract u.s. Capital. Iqt also increased its activities with congress, participating in requests for discussion about the innovation ecosystem from the startup and venture community and the intersection with national security as well as insights about the novel coronavirus, the threat of infectious diseases to national security, and utility of startup technologies in this space. These activities include briefings to congressional members and staff and written and personal testimony to congress. Iqt is governed by an independent board of trustees comprised of former officials from the defense and intelligence communities, as well as current or former ceos of major companies, and university and investment industry leaders. Iqt is an independent, not-for-profit corporation. Iqt is neither part of the cia nor is it a government agency. However, iqt is party to and bound by a charter agreement and annual contracts with the cia.”

“Changes in net assets on april 1, 2020, iqt adopted asu no. 2014-09 - revenue from contracts with customers (topic 606), as amended with retrospective application to the prior periods. As a result, iqt removed the deferred revenue liability of $77,582,905, which adjusted net assets by the same amount as of march 31, 2021.”