2024-05-13T17:22:28-05:00 2023-06-30 440160260 FORVIS LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2022-07-01 461014824 ZUCKER INSTITUTE FOR APPLIED NEUROSCIENCES INC ZUCK 8438761900 135 CANNON STREET STE 101-L MSC 8 CHARLESTON SC 29425 TODD HEADLEY CEO 8438761900 2024-05-13 1 TODD HEADLEY 999009999 1 AMY BIBBY P00445891 8282542254 2024-05-13 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z X TODD HEADLEY 135 CANNON STREET STE 101-L MSC 828 CHARLESTON SC 29425 200636 0 X ZUCKERINNOVATION.ORG X 2012 SC TO APPLY SCIENTIFIC AND CLINICAL DISCOVERY TO CONCRETE NEUROSCIENCE PROBLEMS AND DEVELOP TECHNOLOGICAL ADVANCEMENTS THAT WILL MAKE A DIFFERENCE IN PATIENTS' LIVES. X 7 7 2 0 0 0 863253 25 898630 114952 8087 -651 0 84676 1769970 199002 0 0 0 0 693061 25555 0 0 0 993288 263570 1686349 289125 83621 -90123 746418 0 307151 0 439267 0 TO APPLY SCIENTIFIC AND CLINICAL DISCOVERY TO CONCRETE NEUROSCIENCE PROBLEMS AND DEVELOP TECHNOLOGICAL ADVANCEMENTS THAT WILL MAKE A DIFFERENCE IN PATIENTS' LIVES. 0 0 277157 199628 SOUTH CAROLINA CLINICAL AND TRANSLATIONAL RESEARCH INSTITUTE - TRANSLATIONAL TECH PROGRAM SCIENTIFIC RESEARCH FOCUSED IN THE FIELD OF NEUROSCIENCES, IN PARTICULAR TO ASSIST IN THE ADVANCEMENT OF THE BLINK SPEED MEASUREMENT TECHNOLOGY. SCIENTIFIC RESEARCH FOCUSED IN THE FIELD OF NEUROSCIENCES, PURSUANT TO A SPONSORED RESEARCH AGREEMENT FUNDED BY WHITE POINT TECHNOLOGIES, INC. 277157 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 1 0 1 0 0 0 1 0 0 2 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 1 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 SC X THE ORGANIZATION 8438761900 135 CANNON STREET STE 101-L MSC 828 CHARLESTON SC 29425 JOSEPH MCDONALD TRUSTEE 1.00 X 0 0 0 PAUL KOHLHEIM TRUSTEE 1.00 X 0 0 0 ANDREW MCKENNA TRUSTEE 1.00 X 0 0 0 LAWRENCE OLANOFF TRUSTEE 1.00 20.00 X 0 0 0 WILLIAM HIMMELSBACH TRUSTEE 1.00 1.00 X 0 0 0 DAVE HEMINK TRUSTEE 1.00 X 0 0 0 JESSE GOODWIN TRUSTEE 1.00 1.00 X 0 0 0 MARK SEMLER CEO 40.00 X 146080 0 5724 PAUL ASPER VICE PRESIDENT 40.00 X 78036 0 4710 224116 0 10434 1 0 1 0 0 25 25 ROYALTIES 900099 114952 114952 114952 645 645 338 0 1634 338 -1634 -1296 -1296 TECHNOLOGY DEVELOPMENT 900099 73317 73317 PATIENT EXPENSE RECOVE 900099 11359 11359 84676 199002 199628 0 -651 25555 25555 11003 11003 965 965 80580 80580 44711 44711 8518 8518 BAD DEBT EXPENSE 61021 61021 PROTOTYPE DEVELOPMENT 55428 55428 OTHER CONTRACTUAL SERVI 1344 1344 289125 277157 11968 0 67607 69585 324192 7409 0 134768 142857 746418 0 307151 307151 0 X 439267 0 439267 0 746418 0 X -90123 1010 -350154 X X 0 1 X 1 0 X X 1 MEDICAL UNIVERSITY OF SOUTH CAROLINA 576000722 6 1 289125 0 1 289125 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X PART IV, SECTION D, LINE 3 THE MEMORANDUM OF UNDERSTANDING BETWEEN ZIAN AND THE MEDICAL UNIVERSITY OF SOUTH CAROLINA MUSC, EFFECTIVE JULY 1, 2022, SHOWS MUSC'S SIGNIFICANT VOICE IN ZIAN THROUGH ZIAN'S USE OF MUSC FACILITIES, SPACE AND RESOURCES, MUSC'S MANAGEMENT OF ALL HUMAN RESOURCE ISSUES FOR ZIAN, THE REQUIRED COORDINATION OF ALL ZIAN'S DEVELOPMENT ACTIVITIES WITH MUSC AND ITS POLICIES, AND THE REQUIRED COORDINATION OF ALL ZIAN'S SPONSORED RESEARCH WITH MUSC AND ITS POLICIES. THE MOU REQUIRES ZIAN TO REPORT TO MUSC ON ALL ACTIVITIES MANAGED BY ZIAN FOR THE BENFIT OF MUSC AS WELL AS MAKE ITS FINANCIAL STATEMENTS AVAILABLE ON AT LEAST A QUARTERLY BASIS. DIRECTORS AND OFFICERS OF ZIAN MEET REGULARLY ,OFTEN WEEKLY, WITH SENIOR LEADERSHIP OF MUSC, AND ZIAN PROVIDES THE ANNUAL NOTICE AS REQUIRED IN TREAS. REG. 1.509A-4I2. PART IV,SECTION E, LINE 1C ZIAN SUPPORTS EXCLUSIVELY THE MEDICAL UNIVERSITY OF SOUTH CAROLINA MUSC, A STATE AGENCY OF SOUTH CAROLINA. ZIAN'S BYLAWS PROVIDE THAT 4 DIRECTORS SERVING ON ITS BOARD ARE APPOINTED BY MUSC, AND 5 DIRECTORS ARE INDEPENDENT, SERVING AT LARGE WITH NO EMPLOYMENT OR APPOINTMENT BY MUSC. THE MEMORANDUM OF UNDERSTANDING BETWEEN ZIAN AND MUSC, EFFECTIVE JULY 1, 2022, SHOWS MUSC'S SIGNIFICANT VOICE IN ZIAN THROUGH ZIAN'S USE OF MUSC FACILITIES, SPACE AND RESOURCES, MUSC'S MANAGEMENT OF ALL HUMAN RESOURCE ISSUES FOR ZIAN, THE REQUIRED COORDINATION OF ALL ZIAN'S DEVELOPMENT ACTIVITES WITH MUSC AND ITS POLICIES, AND THE REQUIRED COORDINATION OF ALL ZIAN'S SPONSORED RESEARCH WITH MUSC AND ITS POLICIES. THE MOU REQUIRES ZIAN TO REPORT TO MUSC ON ALL ACTIVITIES MANAGED BY ZIAN FOR THE BENEFIT OF MUSC AS WELL AS MAKE ITS FINANCIAL STATEMENTS AVAILABLE ON AT LEAST A QUARTERLY BASIS. DIRECTORS AND OFFICERS OF ZIAN MEET REGULARLY, OFTEN WEEKLY, WITH SENIOR LEADERSHIP OF MUSC, AND ZIAN PROVIDES THE ANNUAL NOTICE AS REQUIRED IN TREAS. REG. 1.509A-4I2. SEE ALSO NARRATIVE RESPONSE TO PART IV, SECTION D, LINE 3. 0 X PART X, LINE 2: THE FINANCIAL ACCOUNTING STANDARDS FASB PROVIDES GUIDANCE ON THE INSTITUTE'S EVALUATION OF ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT HAS EVALUATED THE INSTITUTE'S TAX POSITION AND HAS CONCLUDED THAT THE INSTITUTE HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. X X X X 0 0 0 0 0 0 0 0 0 MARK SEMLER CEO 137331 0 0 0 8749 0 0 0 5724 0 151804 0 0 0 INTANGIBLE ASSETS 142857 BOOK VALUE 571031624 MUSC FOUNDATION FOR RESEARCH DEVELOPMENT 135 CANNON STREET MSC 828 NO CHARLESTON SC 29425 501(C)(3) OTHER ASSETS 603561 BOOK VALUE 571031624 MUSC FOUNDATION FOR RESEARCH DEVELOPMENT 135 CANNON STREET MSC 828 NO CHARLESTON SC 29425 501(C)(3) 1 0 0 0 PART II, LINE 2E: PERSON(S) INVOLVED: WILLIAM HIMMELSBACH AND JESSE GOODWIN ARE BOARD MEMBERS OF THE RECIPIENT 501(C)(3) ORGNAIZATION FORM 990, PART VI, SECTION A, LINE 4 ZIAN AMENDED ITS ARTICLES AND BYLAWS TO BECOME A MEMBER-BASED NONPROFIT WITH MUSC FOUNDATION FOR RESEARCH DEVELOPMENT, A SOUTH CAROLINA NONPROFIT CORPORATION ("FRD"), SERVING AS THE SOLE MEMBER. BECAUSE OF THIS STRUCTURE, THE BOARD OF DIRECTORS OF FRD HAS BECOME THE BOARD OF DIRECTORS, EX OFFICIO, OF ZIAN. FORM 990, PART VI, SECTION A, LINE 7A BECAUSE MUSC FOUNDATION FOR RESEARCH DEVELOPMENT, A SOUTH CAROLINA NONPROFIT CORPORATION ("FRD"), IS THE SOLE MEMBER OF ZIAN, THE BOARD OF DIRECTORS OF FRD SERVES EX OFFICIO AS THE BOARD OF DIRECTORS OF ZIAN. MUSC APPOINTS 4 OF THE 9 DIRECTORS THAT SERVE ON THE FRD (AND ZIAN) BOARD OF DIRECTORS. THE REMAINING 5 DIRECTORS ARE INDEPENDENT, AT-LARGE DIRECTORS WHO ARE NEITHER EMPLOYED NOR ENGAGED BY MUSC FORM 990, PART VI, SECTION A, LINE 7B BECAUSE MUSC FOUNDATION FOR RESEARCH DEVELOPMENT, A SOUTH CAROLINA NONPROFIT CORPORATION ("FRD"), IS THE SOLE MEMBER OF ZIAN, THE BOARD OF DIRECTORS OF FRD SERVES EX OFFICIO AS THE BOARD OF DIRECTORS OF ZIAN. MUSC APPOINTS 4 OF THE 9 DIRECTORS THAT SERVE ON THE FRD (AND ZIAN) BOARD OF DIRECTORS. THE REMAINING 5 DIRECTORS ARE INDEPENDENT, AT-LARGE DIRECTORS WHO ARE NEITHER EMPLOYED NOR ENGAGED BY MUSC FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PRESENTED TO THE BOARD MEMBERS FOR THEIR REVIEW AND APPROVAL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL INTERESTED PERSONS TO ANNUALLY SIGN A STATEMENT VERIFYING COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION HAS SET IN PLACE A COMPENSATION POLICY IN WHICH STANDARDS ARE SET FOR REASONABLE COMPENSATION. THE POLICY CALLS FOR PERIODIC REVIEWS TO DETERMINE WHETHER COMPENSATION TRANSACTIONS ARE PROPERLY RECORDED, REFLECT REASONABLE PAYMENTS FOR GOODS AND SERVICES, FURTHER THE CORPORATION'S CHARITABLE PURPOSES AND DO NOT RESULT IN PRIVATE INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR IN AN EXCESS BENEFIT TRANSACTION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: MERGING OF NET ASSETS TO ZUCKER INSTITUTE FOR INNOVATION COMMERCIALIZATION -350,154. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MEDICAL UNIVERSITY OF SOUTH CAROLINA 179 ASHLEY AVENUE CHARLESTON SC 29425 576000722 EDUCATION SC 115 N/A 0 MUSC FOUNDATION FOR RESEARCH DEVELOPMENT 19 HAGOOD AVENUE MSC 828 CHARLESTON SC 29425 571031624 RESEARCH SC 501(C)(3) LINE 6 MEDICAL UNIVERSITY OF SOUTH CAROLINA 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 MEDICAL UNIVERSITY OF SOUTH CAROLINA L 277157 CASH PAID