Accelerate Long Island Inc

“this form 990-ez has been prepared based on information provided by accelerate long island, inc. as well as draft audited financial information. in the event any of the information contained herein is revised upon completion of the audit, it is the intention of accelerate long island, inc. to file an amended form 990-ez, as necessary.”

“Description:INSURANCE Amount:4776”

“Description:OFFICE EXPENSE Amount:11809”

“Description:INTERCOMPANY DTF - FUND EOY Amount:45818”

“ANYITC Fund Corp., ANYITC Fund GP, LLC and Accelerate NY Innovation TC Fund, L.P. were established during fiscal 2016. ANYITC Fund Corp. is the sole member of ANYITC Fund GP, LLC and in turn, ANYITC Fund GP, LLC is the General Partner in Accelerate NY Innovation TC Fund, L.P. These entities were formed for the purpose of executing a Limited Partnership Agreement with Empire State Development (Limited Partner). The purpose of the Partnership is to provide critical pre-seed and seed funding to incentivize new business formation and growth in the State of New York. All of the above entities are under common ownership and control of ALI and, accordingly, are consolidated with ALI. The Accelerate New York Seed Fund (Fund), in partnership with Empire State Development (ESD) and independent third-party investors, works collaboratively to support science and technology based early stage ventures located in Downstate New York. The Fund operates under a Limited Partnership Agreement with ESD which was executed in December 2016 and the Funds mission is to provide critical seed and pre-seed funding for early stage growth, to facilitate the transition from laboratory research and ideas into products, processes and services and to provide financial return to investors. The Fund commenced limited operations in December 2016. An initial capital contribution of $750,000 was received by the Fund in February 2017.”