Liabilities / Assets
23rd percentile
Higher debt load relative to assets than 23% of similar nonprofits.
Accelerate Long Island Inc
990 • Fiscal year 2019 • EIN 80-0775764
Refreshing map…
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.00x
Liabilities / Revenue
23rd percentile
Higher debt load relative to revenue than 23% of similar nonprofits.
Net Margin
99th percentile
Higher net margin than 99% of similar nonprofits.
Top Officer Pay
46th percentile
Higher top officer pay than 46% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
87th percentile
Faster asset growth than 87% of similar nonprofits.
Revenue Growth
41st percentile
Faster revenue growth than 41% of similar nonprofits.
Balance Sheet
Assets
Up$794,246
Up $277,775 (+54%) from 2018
Net Assets
Up$793,422
Up $276,951 (+54%) from 2018
Liabilities
Up$824
Up $824 from 2018
Revenue And Expenses
Revenue
Down$300,000
Down $344 (-0.1%) from 2018
Expenses
Down$23,049
Down $30,003 (-57%) from 2018
Net Income
Up$276,951
Up $29,659 (+12%) from 2018
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2019 to Dec 31, 2019
- Signed
- Feb 18, 2022
- Return Version
- 2019v5.2
- Gross Receipts
- $300,000
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.
SEE SCHEDULE O
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $49,371 | $201,946 | ▲ $152,575 |
| Prepaid Expenses and Deferred Charges | $3,822 | $2,989 | ▼ $833 |
| Savings and Temporary Cash Investments | $70,615 | $1,033 | ▼ $69,582 |
| Total Assets | $516,471 | $794,246 | ▲ $277,775 |
| Other Assets Total | $392,663 | $588,278 | ▲ $195,615 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | - | $824 | - |
| Total Liabilities | $0 | $824 | ▲ $824 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $515,437 | $792,388 | ▲ $276,951 |
| Net Assets With Donor Restrictions | $1,034 | $1,034 | → $0 |
| Total Net Assets Fund Balance | $516,471 | $793,422 | ▲ $276,951 |
| Total Liabilities and Net Assets / Fund Balance | $516,471 | $794,246 | ▲ $277,775 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Assets Org | $588,278 | - | - |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Kevin S Law | Chairman |
| Leo Guthart | Vice Chairman |
| Bruce Stillman | Director |
| David Calone | Director |
| Doon Gibbs | Director |
| Michael Dowling | Director |
| Nancy Rauch-douzinas | Director |
| Steve Winick | Director |
| Stuart Rabinowitz | Director |
| Noel Goddard | Managing Director |
| Charles M Strain | Secretary |
| Roger Savell | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $300,000
- Investment Income
- $0
- Other Revenue
- $0
- Change in Net Assets
- $276,951
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $23,049 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Accounting | - | - | - | $16,240 |
| Office Expenses | - | - | - | $3,829 |
| Insurance | - | - | - | $2,902 |
| Conferences and Meetings | - | - | - | $78 |
| Total Functional Expenses | $0 | $0 | $0 | $23,049 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- In-house lobbying only
- Yes
- Subject to proxy tax
- Yes
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with 35% controlled entity
- No
- 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, Section A, 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 laborartory, cold spring harbor laboratory, hofstra university, long island association, inc., north shore-long island jewish health system, stony brook university.”
Form 990, Part VI, Section A, Line 7A
“Each member is entitled to representation of accelerate's board of directors.”
Form 990, Part VI, Section A, Line 7B
“Specific board actions require approval of the members, specifically 1) any amendment of, or change to, the certification 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, Section B, Line 11B
“The form 990 was prepared by a top national accounting firm in conjuntion 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, Section B, Line 12C
“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 employees 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, Section B, Line 15
“Ali does not compensate any of the individuals reported on this 990.”
Form 990, Part VI, Section C, 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 guidestar.org. The orginization'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
- Address
- 300 BROADHOLLOW ROAD SUITE 110W, MELVILLE, NY 11747
Signing Officer
- Name
- Michelle Byrne
- Title
- Finance Director
- Phone
- 6314933000
- Signed
- 2022-02-18
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Michelle Byrne
- Voting Board Members
- 12
- Independent Board Members
- 12
- Employees
- 0
- Volunteers
- 0
Preparer
- Firm
- Bonadio & Co Llp
- Address
- 171 SULLYS TRAIL, PITTSFORD, NY 14534
- Preparer
- David Dinolfo
- Phone
- 5856622216
Supplemental Narrative
Additional Explanations
Form 990, Part I, Line 1
“A unique collaboration among long island's world class research institution and its business community to commercialize research and create an entrepreneurial ecosystem.”
Raw XML Appendix375 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/MissionDesc | 0 | A UNIQUE COLLABORATION AMONG LONG ISLAND'S WORLD CLASS RESEARCH INSTITUTION AND ITS BUSINESS COMMUNITY TO COMMERCIALIZE RESEARCH AND CREATE AN ENTREPRENEURIAL ECOSYSTEM. |
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| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | THE ORGANIZATION AND A GROUP OF PARTNERS FROM ITS FOUNDING RESEARCH INSTITUTIONS PARTICIPATED INMIT VENTURE MENTOR SERVICE'S IMMERSION PROGRAM AND PLAN TO ESTABLISH A SIMILAR MENTORSHIP PROGRAM ON LONG ISLAND. THIS MENTORSHIP PROGRAM WILL ADOPT 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. |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | ALI WAS AWARDED A $500,000 GRANT FROM NEW YORK STATE EMPIRE STATE DEVELOPMENT TO MAKE WORKING CAPITAL GRANTS TO TECHNOLOGY FIRMS ON LONG ISLAND AS PART OF A REGIONAL EFFORT TO SUPPORT NEW TECHNOLOGY STARTUP COMPANIES AND COLLABORATIONS AMONG LONG ISLAND'S RESEARCH INSTITUTIONS. THE PROGRAM WAS COMPLETED AS OF DECEMBER 31, 2015. |
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| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | INTERCOMPANY RECEIVABLE |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | A UNIQUE COLLABORATION AMONG LONG ISLAND'S WORLD CLASS RESEARCH INSTITUTION AND ITS BUSINESS COMMUNITY TO COMMERCIALIZE RESEARCH AND CREATE AN ENTREPRENEURIAL ECOSYSTEM. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | 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 LABORARTORY, COLD SPRING HARBOR LABORATORY, HOFSTRA UNIVERSITY, LONG ISLAND ASSOCIATION, INC., NORTH SHORE-LONG ISLAND JEWISH HEALTH SYSTEM, STONY BROOK UNIVERSITY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | EACH MEMBER IS ENTITLED TO REPRESENTATION OF ACCELERATE'S BOARD OF DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | SPECIFIC BOARD ACTIONS REQUIRE APPROVAL OF THE MEMBERS, SPECIFICALLY 1) ANY AMENDMENT OF, OR CHANGE TO, THE CERTIFICATION OF INCORPORATION, 2) DISPOSITION OF ALL, OR SUBSTANTIALLY ALL, OF ACCELERATE'S ASSETS, 3) PLANS OF MERGER OR CONSOLIDATION OR DISSOLUTION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE FORM 990 WAS PREPARED BY A TOP NATIONAL ACCOUNTING FIRM IN CONJUNTION 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | 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 EMPLOYEES 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | ALI DOES NOT COMPENSATE ANY OF THE INDIVIDUALS REPORTED ON THIS 990. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | 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 GUIDESTAR.ORG. THE ORGINIZATION'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. |
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| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION A, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART VI, SECTION C, LINE 19 |
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| ReturnHeader/BuildTS | 0 | 2022-09-23 18:48:47Z |
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| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | FINANCE DIRECTOR |
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| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2020-11-13 |
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| ReturnHeader/ReturnTs | 0 | 2022-02-24T09:34:15-06:00 |
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Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $794,246
- Liabilities
- $824
- Net assets
- $793,422
- Revenue
- $300,000
- Expenses
- $23,049
- Net income
- $276,951