Civic Intelligence

Accelerate Long Island Inc

990 • Fiscal year 2018 • EIN 80-0775764

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

300 broadhollow road Suite 110WMelville, NY 11747-4840

(631) 493-3000

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

22nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Net Margin

98th percentile

82%

Higher net margin than 98% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Asset Growth

95th percentile

90%

Faster asset growth than 95% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

100th percentile

57994%

Faster revenue growth than 100% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Up

$516,471

Up $244,014 (+90%) from 2017

Net Assets

Up

$516,471

Up $247,292 (+92%) from 2017

Liabilities

Down

$0

Down $3,278 (-100%) from 2017

Revenue

Up

$300,344

Up $299,827 (+57994%) from 2017

Expenses

Up

$53,052

Up $3,959 (+8.1%) from 2017

Net Income

Up

$247,292

Up $295,868 (+609%) from 2017

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2012: $358,328Liabilities 2012: $22,474Net Assets 2012: $335,8542012Assets 2013: $589,718Liabilities 2013: $9,244Net Assets 2013: $580,4742013Assets 2014: $458,557Liabilities 2014: $7,198Net Assets 2014: $451,3592014Assets 2015: $504,532Liabilities 2015: $14,485Net Assets 2015: $490,0472015Assets 2016: $326,738Liabilities 2016: $8,983Net Assets 2016: $317,7552016Assets 2017: $272,457Liabilities 2017: $3,278Net Assets 2017: $269,1792017Assets 2018: $516,471Liabilities 2018: $0Net Assets 2018: $516,4712018Assets 2019: $794,246Liabilities 2019: $824Net Assets 2019: $793,4222019Assets 2020: $858,773Liabilities 2020: $12,000Net Assets 2020: $846,7732020Assets 2021: $900,338Liabilities 2021: $2,082Net Assets 2021: $898,2562021Assets 2022: $945,871Liabilities 2022: $2,082Net Assets 2022: $943,7892022Assets 2023: $950,143Liabilities 2023: $41,034Net Assets 2023: $909,1092023Assets 2024: $957,563Liabilities 2024: $34,969Net Assets 2024: $922,5942024

Highlighted filing

2018

Assets$516,471
Liabilities$0
Net Assets$516,471

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2012: $551,041Expenses 2012: $215,187Net Income 2012: $335,8542012Revenue 2013: $727,452Expenses 2013: $482,832Net Income 2013: $244,6202013Revenue 2014: $683,966Expenses 2014: $813,081Net Income 2014: -$129,1152014Revenue 2015: $610,601Expenses 2015: $571,913Net Income 2015: $38,6882015Revenue 2016: $568Expenses 2016: $172,860Net Income 2016: -$172,2922016Revenue 2017: $517Expenses 2017: $49,093Net Income 2017: -$48,5762017Revenue 2018: $300,344Expenses 2018: $53,052Net Income 2018: $247,2922018Revenue 2019: $300,000Expenses 2019: $23,049Net Income 2019: $276,9512019Revenue 2020: $75,000Expenses 2020: $21,649Net Income 2020: $53,3512020Revenue 2021: $75,000Expenses 2021: $23,517Net Income 2021: $51,4832021Revenue 2022: $75,000Expenses 2022: $29,467Net Income 2022: $45,5332022Revenue 2023: $185,729Expenses 2023: $190,409Net Income 2023: -$4,6802023Revenue 2024: $243,283Expenses 2024: $229,798Net Income 2024: $13,4852024

Highlighted filing

2018

Revenue$300,344
Expenses$53,052
Net Income$247,292
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$300,344
Mission and Program Overview

Mission

Accelerate long island inc. (the "organization") is a unique collaboration among long island's world class research institutions and its business community to commercialize research and create an entrepreneurial ecosystem.

A UNIQUE COLLABORATION AMONG LONG ISLAND'S WORLD CLASS RESEARCH INSTITUTIONS AND ITS business community TO COMMERCIALIZE RESEARCH & create an Entrepreneurial ecosystem.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$70,270$70,615▲ $345
Cash and Non-Interest-Bearing Accounts$7,493$49,371▲ $41,878
Prepaid Expenses and Deferred Charges$3,734$3,822▲ $88
Accounts Receivable$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
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$272,457$516,471▲ $244,014
Other Assets Total$190,960$392,663▲ $201,703
Liabilities
Accounts Payable and Accrued Expenses$3,278$0▼ $3,278
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$3,278$0▼ $3,278
Net Assets / Fund Balance
Unrestricted Net Assets$269,179$515,437▲ $246,258
Temporarily Rstr Net Assets$0$1,034▲ $1,034
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$269,179$516,471▲ $247,292
Total Liabilities and Net Assets / Fund Balance$272,457$516,471▲ $244,014

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$392,663--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kevin S LawChairman
Leo GuthartVice Chairman
Bruce StillmanDirector
David CaloneDirector
Doon GibbsDirector
Michael L DowlingDirector
Nancy Rauch-DouzinasDirector
Samuel L Stanley JrDirector
Steve WinickDirector
Stuart RabinowitzDirector
Peter DonnellyManaging Director
Charles M StrainSecretary
Roger SavellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$300,000
Investment Income
$344
Other Revenue
$0
Change in Net Assets
$247,292
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$53,052
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
Fees for Services Accounting---$25,445
Fees for Services Other---$17,500
Office Expenses---$5,685
Insurance---$4,422
Total Functional Expenses$0$0$0$53,052
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6

Accelerate Long Island is a membership corporation comprised of Founding Members who are members of the Long Island Association. The founding Members are: Brookhaven National Laboratory Cold Spring Harbor Laboratory Hofstra University Long Island Association, Inc. North Shore - Long Island Jewish Health System Stony Brook University Form 990, Part VI, Line 7a Each Member is entitled to representation on Accelerate's Board of Directors. Form 990, Part VI, Line 7b Specific board actions require the approval of the Members; specifically: 1. Any amendment of, or change to, the certificate of incorporation. 2. Disposition of all, or substantially all, of Accelerate's assets. 3. Plans of merger or consolidation or dissolution. Form 990, Part VI, Line 11 THE FORM 990 WAS PREPARED BY A NATIONAL ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT AND WAS PROVIDED TO THE MANAGING DIRECTOR FOR REVIEW/APPROVAL. THE FORM 990 IS MADE AVAILABLE TO THE ENTIRE BOARD. FORM 990 PART VI, LINE 12 Accelerate Long Island ("ALI") has a conflict of interest policy in place that governs the activities of its officers, directors, trustees and key employees. Each officer, director, trustee and key employee is required to annually disclose any conflicts of interest that arise by virtue of employment, board service or position with ALI. These disclosures are reviewed to ensure compliance with the conflict of interest policy. ALI is not aware of any potential conflicts of interest. Form 990, Part VI, Line 15 ALI does not compensate any of the individuals reported on its Form 990. Form 990, Part VI, Line 19 ALI makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.

Filing and Contact Details

Filer

Filer Name
Accelerate Long Island Inc
EIN
80-0775764
In Care Of
% MICHELLE BYRNE
Phone
6314933000
Address
300 broadhollow road Suite 110W, MELVILLE, NY 11747-4840

Signing Officer

Name
Michelle Bryne
Title
CFO
Phone
6314933000
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Donnelly
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
0

Preparer

Firm
Grant Thornton Llp
Address
757 THIRD AVENUE 3RD FLOOR, NEW YORK, NY 10017-2013
Preparer
Scott Thompsett
Phone
2125990100
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11G

Description:consulting fees total fees:17500

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IRS990/MissionDesc0ACCELERATE LONG ISLAND, INC. (THE "ORGANIZATION") IS A UNIQUE COLLABORATION AMONG LONG ISLAND'S WORLD CLASS RESEARCH INSTITUTIONS AND ITS BUSINESS COMMUNITY TO COMMERCIALIZE RESEARCH AND CREATE AN ENTREPRENEURIAL ECOSYSTEM.
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IRS990/ProgSrvcAccomActy2Grp/Desc0MIT Venture Mentor Services The Organization and a group of partners from its founding research institutions participated in MIT Venture Mentor Service's Immersion Program and established a mentorship program on Long Island. This mentorship program adopted MIT's "guiding principles", which involve a team approach to mentoring and establishing an "objective" relationship between the mentors and the entrepreneurs that does not involve other business relationships. The program was combined with a mentoring program run by stony brook university's center for biotech.
IRS990/ProgSrvcAccomActy3Grp/Desc0Accelerate LI Seed Fund The Accelerate Long Island Seed Fund was established by a $500,000 grant from New York State Empire State Development awarded by the Long Island Regional Economic Development Council. The Accelerate Long Island Seed Fund made grants to ten portfolio companies in the biotech and energy sectors and those grants were matched by the Long Island Emerging Technologies Fund (LIETF). The Accelerate Long Island Seed Fund was designed as very early stage funding for companies that are commercializing technologies and the portfolio has been very successful in securing follow-on funding.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Accelerate Long Island is a membership corporation comprised of Founding Members who are members of the Long Island Association. The founding Members are: Brookhaven National Laboratory Cold Spring Harbor Laboratory Hofstra University Long Island Association, Inc. North Shore - Long Island Jewish Health System Stony Brook University Form 990, Part VI, Line 7a Each Member is entitled to representation on Accelerate's Board of Directors. Form 990, Part VI, Line 7b Specific board actions require the approval of the Members; specifically: 1. Any amendment of, or change to, the certificate of incorporation. 2. Disposition of all, or substantially all, of Accelerate's assets. 3. Plans of merger or consolidation or dissolution. Form 990, Part VI, Line 11 THE FORM 990 WAS PREPARED BY A NATIONAL ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT AND WAS PROVIDED TO THE MANAGING DIRECTOR FOR REVIEW/APPROVAL. THE FORM 990 IS MADE AVAILABLE TO THE ENTIRE BOARD. FORM 990 PART VI, LINE 12 Accelerate Long Island ("ALI") has a conflict of interest policy in place that governs the activities of its officers, directors, trustees and key employees. Each officer, director, trustee and key employee is required to annually disclose any conflicts of interest that arise by virtue of employment, board service or position with ALI. These disclosures are reviewed to ensure compliance with the conflict of interest policy. ALI is not aware of any potential conflicts of interest. Form 990, Part VI, Line 15 ALI does not compensate any of the individuals reported on its Form 990. Form 990, Part VI, Line 19 ALI makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DESCRIPTION:CONSULTING FEES TOTAL FEES:17500
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 PART IX LINE 11G
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0300 Broadhollow Road S110W
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Melville
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Accelerate Long Island Foundation
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IRS990/TotalContributionsAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.58$0.35$9.23$2.43$2.30$0.13
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.50$0.41$9.09$1.86$1.90$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.46$0.02$9.44$0.75$0.29$0.46
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.00$0.02$8.98$0.75$0.24$0.51
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.59$0.12$8.47$0.75$0.22$0.53
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.94$0.01$7.93$3.00$0.23$2.77
2018Detailed filing. Detailed filing data is available for this year.$5.16$0.00$5.16$3.00$0.53$2.47
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.72$0.03$2.69$0.01$0.49$0.49
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.27$0.09$3.18$0.01$1.73$1.72
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.05$0.14$4.90$6.11$5.72$0.39
2014Detailed filing. Detailed filing data is available for this year.$4.59$0.07$4.51$6.84$8.13$1.29
2013Summary only. Only limited summary data is available for this year.$5.90$0.09$5.80$7.27$4.83$2.45
2012Summary only. Only limited summary data is available for this year.$3.58$0.22$3.36$5.51$2.15$3.36