Texas Research and Technology Foundation

“An outside accounting firm prepares and files the organization's form 990. Management conducts a review of the draft and provides it to executive committee for review. The final draft is provided to the entire board for review and approval.”

“The Conflict of Interest Policy is included in the employee policy manual and is applicable to the Board of Trustees. At the Board of Trustees Annual Board meeting that approves the budget (December), TRTF staff administers and renews Conflict of Interest statements to the Board of Trustees. The Executive Committee, along with the President and CEO, monitors for compliance and reviews any potential or actual conflicts. More recently, TRTF permanently created a Chief Administrative Officer (CAO) to oversee and administer the conflict of interest policy. Any member of the governing body that has a conflict of interest on a particular matter is required to abstain form voting on that matter.”

“A thorough review is conducted and performed in conjunction with the annual bonuses awarded at year end by the board of Trustees. The review is recorded in the meeting minutes. In 2018, the board commissioned a compensation study to determine the reasonableness of the CEOs compensation.”

“The form 990, financial statements, and other documents will be provided upon request to the public.”

“TEXAS RESEARCH AND TECHNOLOGY FOUNDATION (TRTF) IS SAN ANTONIOS CHAMPION FOR DELIVERING SUSTAINABLE ECONOMIC AND COMMUNITY GROWTH. WE CONNECT, DEVELOP, AND FUND INNOVATIVE VENTURES THAT ENHANCE OUR BIOSCIENCE AND TECHNOLOGY ECOSYSTEM. TRTF has acted as the technology-based economic developer for the City of San Antonio, Bexar County and the State of Texas since its establishment in 1984. TRTF has been successfully promoting and developing emerging technologies and the life science industry in the San Antonio area. In that time, it has successfully developed a research park on the far westside of San Antonio, incubated companies that spun-out into successful enterprises and ultimately created jobs and spurred investment. More recently, TRTF purchased the five-acre Merchant Ice and Storage complex which is located on E. Houston St. on the near eastside of downtown -- a historically underinvested area of San Antonio. While preserving the historic nature of the complex, TRTF is redeveloping the complex into an Innovation Center with an incubator/accelerator and offices/labs.”

“Technology Based Economic Development: TRTF, through its subsidiary VelocityTX, executed its annual Global Accelerator Program. The accelerator shepherded 5 companies through technical assistance and mentorship programs that provide emerging companies the assistance they needed to help grow and commercialize their products/services. TRTF also executed two Emerging Venture Pipeline luncheons which showcase emerging companies to the community to highlight their technologies and to help promote their companies for outside funding. TRTF subsidized these events, the goal of which was to advance the research and growth of these companies. TRTF/VelocityTX hosted a 2-day Healthtech Hackathon where 5 teams of entrepreneurs helps solve health-related problems sourced by the local bioscience and healthcare community. The teams spent 48 hours developing innovative solutions and technologies which they presented to a panel of judges. Additionally, TRTF continues to develop a 5-acre site near downtown -- the Merchant Ice and Storage complex. The site is being developed as an innovation center with labs, offices, programs and support services. TRTF also continued to lease property to support research: TRTF leases lab, manufacturing and office space at the Texas Research Park on the far west side of San Antonio and at the Merchants Ice complex.”

“Description:consultants total fees:212258”

“Description:trustee total fees:120274”

“Description:engineer/architect total fees:1039082”