2024-07-29T09:04:37-05:00 2023-12-31 454051133 FREED MAXICK CPAS PC 424 MAIN STREET SUITE 800 BUFFALO NY 142023508 990 2023-01-01 161336537 TDC FOUNDATION INC TDCF 7166363626 683 NORTHLAND AVENUE 1109 BUFFALO NY 14211 BENJAMIN L RAND PRESIDENT 7166363626 2024-07-25 1 0 MARY MADONIA P00405803 7168472651 2024-06-18 2023 2024-08-08 14:25:15Z BENJAMIN L RAND 683 NORTHLAND AVENUE 1109 BUFFALO NY 14211 202926 0 X HTTP://WWW.INSYTE-CONSULTING.COM X 1989 NY THE TDC FOUNDATION SUPPORTS THE WESTERN NEW YORK TECHNOLOGY DEVELOPMENT CENTER, INC., WHOSE PURPOSE IS TO TRANSFORM OUR REGION BY STIMULATING THE GROWTH AND CREATION OF DYNAMIC COMPANIES TO PROVIDE A SUPERIOR STANDARD OF LIVING FOR RESIDENTS OF WESTERN NEW YORK. 4 4 0 4 0 0 0 0 0 0 64407 85768 0 0 64407 85768 0 0 0 0 0 0 0 0 0 19672 19911 19672 19911 44735 65857 1660678 1879299 19300 27875 1641378 1851424 TO SUPPORT THE WESTERN NEW YORK TECHNOLOGY DEVELOPMENT CENTER, INC., WHOSE PURPOSE IS TO TRANSFORM THE WESTERN NEW YORK REGION BY STIMULATING THE GROWTH AND CREATION OF DYNAMIC COMPANIES TO PROVIDE A SUPERIOR STANDARD OF LIVING FOR RESIDENTS OF WESTERN NEW YORK. 0 0 SUPPORTED THE WESTERN NEW YORK TECHNOLOGY DEVELOPMENT CENTER, INC., WHOSE PURPOSE IS TO TRANSFORM OUR REGION BY STIMULATING THE GROWTH AND CREATION OF DYNAMIC COMPANIES TO PROVIDE A SUPERIOR STANDARD OF LIVING FOR RESIDENTS OF WESTERN NEW YORK. 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X THE ORGANIZATION 7166363626 683 NORTHLAND AVENUE 1109 BUFFALO NY 14211 PAUL DELLANEVE BOARD MEMBER 0.50 0.50 X 0 0 0 STEVEN F CALZI BOARD MEMBER/PRESIDENT 0.50 0.50 X X 0 0 0 ROCCO SURACE BOARD MEMBER/TREASURER 0.50 0.50 X X 0 0 0 CRAIG FISCHER BOARD MEMBER/SECRETARY 0.50 0.50 X X 0 0 0 BENJAMIN L RAND PRESIDENT OF CORPORATION 0.30 40.00 X 0 209434 23859 LINDA J MCQUILLEN DIRECTOR OF ADMINISTRATION 0.30 40.00 X 0 113114 7366 0 322548 31225 0 0 1 0 0 57137 57137 145789 117158 28631 28631 28631 85768 0 0 85768 6425 6425 11331 11331 1900 1900 NY TAX FILING FEE 250 250 MISCELLANEOUS EXPENSE 5 5 19911 0 19911 0 1793 0 1658885 1879299 1660678 1879299 19300 27875 19300 27875 X 1641378 1851424 1641378 1851424 1660678 1879299 65857 144189 0 X X 0 1 X 1 0 X X X 1 WESTERN NEW YORK TECHNOLOGY DEVELOPMENT CENTER INC 161188210 10 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 2637 2637 2638 2637 2638 2638 2638 2638 2638 2638 1.00000 0 1 1 0 INVESTMENT IN BDF 41675 C MARKETABLE SECURITIES 1837624 F 1879299 DUE TO AFFILIATES 27875 27875 X 229957 144189 144189 85768 0 85768 19911 0 19911 0 19911 PART V, LINE 4: THE FOUNDATION'S BOARD OF DIRECTORS COMMITTED TO INVESTING UP TO $200,000 IN THE WESTERN NEW YORK BUSINESS DEVELOPMENT FUND (BDF), WHOSE PRIMARY PURPOSE IS TO PROVIDE EQUITY CAPITAL FOR LOCAL START-UP COMPANIES. THE FOUNDATION, TOGETHER WITH OTHER BDF INVESTORS, FUNDED ITS COMMITMENTS AS BDF APPROVED INVESTMENTS IN START-UP COMPANIES. BDF INVESTMENTS WERE MADE WITH TERMS THAT VARIED DEPENDING ON THE TRANSACTION. THE FOUNDATION HAS MADE AN INVESTMENT OF $200,000 IN THE AGGREGATE, AS OF DECEMBER 31, 2023 LEAVING NO AVAILABLE FUNDS FOR FUTURE INVESTMENTS. PART X, LINE 2: THE ORGANIZATION HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE STATING THAT THEY ARE EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT DOES NOT BELIEVE THAT CIRCUMSTANCES HAVE SUBSEQUENTLY OCCURRED WHICH WOULD ALTER THE TAX-EXEMPT STATUS OF THE COMPANY. THE COMPANY HAS ALSO RECEIVED A DETERMINATION LETTER THAT THEY ARE NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A)(1) AND (3), RESPECTIVELY, OF THE CODE. X X 0 0 0 0 1 0 1 0 0 BENJAMIN L RAND PRESIDENT OF CORPORATION 0 201113 0 8321 0 0 0 0 0 23859 0 233293 0 0 PART I, LINE 5 THE ORGANIZATION'S PRESIDENT AND DIRECTOR OF ADMINISTRATION ARE PAID THROUGH INSYTE CONSULTING, A RELATED NON-PROFIT ORGANIZATION. INSYTE'S ANNUAL NET INCOME WILL BE DIVIDED INTO THREE POOLS: 25% INTO A PROFIT SHARING POOL; 50% INTO A PERFORMANCE BONUS POOL AND 25% INTO INSYTE RETAINAGE. THE PRESIDENT WILL PARTICIPATE IN THE SAME VARIABLE COMPENSATION PLAN AS ALL OTHER INSYTE PERSONNEL, INCLUDING QUARTERLY PROFIT SHARING AND ANNUAL PERFORMANCE BONUS, TO ENSURE ALIGNMENT OF INCENTIVES FOR THE PRESIDENT WITH ALL INSYTE PERSONNEL, WITH TWO IMPORTANT DIFFERENCES FOR THE PERFORMANCE BONUS POOL PORTION: THE COMPENSATION COMMITTEE OF THE TDC BOARD OF DIRECTORS, IN CONSULTATION WITH THE PRESIDENT, WILL SET THE PRESIDENT'S GOALS AND OBJECTIVES FOR PURPOSES OF THE PERFORMANCE BONUS; AND THE PAY-OUT POTENTIAL AVAILABLE FOR THE PRESIDENT'S PERFORMANCE BONUS WILL BE HIS/HER EQUAL SHARE OF THE PROFIT SHARING POOL EQUAL TO 25% OF INSYTE'S ANNUAL NET AND PRO RATA SHARE OF THE PERFORMANCE BONUS POOL EQUAL TO 50% OF INSYTE'S ANNUAL NET, PLUS 75% OF INSYTE'S RETAINAGE (THIS LATTER PORTION BEING NECESSARY TO MEET THE CURRENT TARGET AMOUNT FOR THE PRESIDENT'S BONUS). PART I, LINE 6 BONUSES FOR THE HIGHLY COMPENSATED EMPLOYEES ARE PAID OUT OF 75% OF THE ANNUAL NET USING A TWO PART SYSTEM. PROFIT SHARING WILL BE PAID OUT PRO RATA, QUARTERLY TO ALL INSYTE PERSONNEL. PERFORMANCE BONUSES WILL BE PAID OUT ANNUALLY TO ALL INSYTE PERSONNEL BASED ON ATTAINMENT OF SPECIFIC, PRE-DETERMINED GOALS. FORM 990, PART IV, LINE 12B THE ORGANIZATION IS INCLUDED IN A COMBINED AUDITED FINANCIAL STATEMENT WITH A RELATED ORGANIZATION. IT DOES NOT HAVE A SEPARATE OR CONSOLIDATED FINANCIAL STATEMENT. FORM 990, PART VI, SECTION B, LINE 11B AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM PREPARES THE FORM 990 AND THEN PROVIDES A DRAFT TO THE ORGANIZATION PRESIDENT FOR REVIEW. THE FINAL FORM 990 IS THEN DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF DIRECTORS ELECTRONICALLY AND IS DISCUSSED AT A BOARD MEETING PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISCUSSED WITH THE STAFF AND BOARD OF DIRECTORS ANNUALLY AT AN "ALL-HANDS" MEETING IN JANUARY EACH YEAR. STAFF AND BOARD MEMBERS ARE REQUIRED TO SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT DISCLOSING ANY POSSIBLE CONFLICTS. POLICIES ARE REVIEWED AND DISCUSSED AT THE BOARD LEVEL. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S PRESIDENT AND DIRECTOR OF ADMINISTRATION ARE PAID THROUGH INSYTE CONSULTING, A RELATED NON-PROFIT ORGANIZATION. THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF INSYTE REVIEWS THE PRESIDENT'S ACCOMPLISHMENTS, SALARY, AND BONUS STRUCTURE DURING THE FALL OF EACH YEAR. THE CHAIRPERSON OF SUCH COMMITTEE CONDUCTS PERIODIC PERFORMANCE REVIEWS FOR THE PRESIDENT. THE ENTIRE COMMITTEE MEETS ANNUALLY TO DETERMINE THE PRESIDENT'S SALARY, KEY MILESTONES, AND BONUS STRUCTURE FOR THE UPCOMING YEAR. FORM 990, PART VI, SECTION C, LINE 18 THE IRS FORM 990 AND FORM 1023 ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. THE IRS FORM 990 MAY ALSO BE VIEWED ON THE WEBSITE GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS OF THE ORGANIZATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C THE INDEPENDENT ACCOUNTANT SELECTION PROCESS AND THE FINANCIAL STATEMENT OVERSIGHT PROCESS HAVE NOT CHANGED SINCE LAST YEAR. WESTERN NEW YORK TECHNOLOGY DEVELOPMENT CENTER INC 683 NORTHLAND AVENUE SUITE 1109 BUFFALO NY 14211 161188210 TO TRANSFORM THE REGION BY STIMULATING THE GROWTH AND CREATION OF COMPANIES. NY 501(C)(3) LINE 10 N/A 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0