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← IMEC USA NANOELECTRONICS DESIGN CENTER

Form 990 for tax year 2023

Filed by IMEC USA NANOELECTRONICS DESIGN CENTER.

Totals

Total revenue
$3,877,834
Total expenses
$3,877,834
Contributions and grants received
$3,380,794
Grants paid
$0
Program service revenue
$447,895
Investment income
$49,145
Other revenue
$0
Total assets, end of year
$7,747,787
Total liabilities, end of year
$7,747,787
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$2,141,348
Management and general expenses
$1,736,486
Fundraising expenses
$0
Program service expenses (Part III)
$2,141,348

Program services were 55.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $3,380,794

  • 2a · Program service revenue: Contract R&D Revenue

    total $447,895 · related or exempt $447,895

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $49,145 · excluded $49,145

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $234,218 · program services $169,944 · management and general $64,274

  • 7 · Other salaries and wages

    total $2,189,943 · program services $1,588,981 · management and general $600,962

  • 11c · Fees: accounting

    total $68,156 · management and general $68,156

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $15,128 · program services $5,400 · management and general $9,728

  • 16 · Occupancy

    total $311,915 · program services $41,619 · management and general $270,296

  • 17 · Travel

    total $65,730 · program services $47,468 · management and general $18,262

  • 22 · Depreciation, depletion and amortization

    total $490,327 · management and general $490,327

  • 24a · Other expenses: Production/sourcing

    total $253,413 · program services $253,413

  • 24b · Other expenses: Miscellaneous

    total $151,881 · program services $29,224 · management and general $122,657

  • 24c · Other expenses: Communication

    total $73,835 · program services $4,592 · management and general $69,243

  • 24d · Other expenses: Other personnel expenses

    total $23,288 · program services $707 · management and general $22,581

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $773,568 · end of year $238,807

  • 2 · Savings and temporary cash investments

    beginning of year $5,345,591 · end of year $5,782,916

  • 4 · Accounts receivable

    beginning of year $127,883 · end of year $80,321

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $67,035 · end of year $79,842

  • 10a · Land, buildings and equipment: cost or other basis

    $2,911,799

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,414,158

  • 10c · Land, buildings and equipment, net

    beginning of year $824,995 · end of year $497,641

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $34,866 · end of year $1,068,260

  • 17 · Accounts payable and accrued expenses

    beginning of year $606,407 · end of year $765,384

  • 19 · Deferred revenue

    beginning of year $6,567,531 · end of year $6,174,257

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $808,146

Mission and programs · 2023

Mission

IMEC USA NANOELECTRONICS DESIGN CENTER, INC. ("IMEC") IS A FLORIDA NOT FOR PROFIT CORPORATION. THE CORPORATION'S PAST, PRESENT, AND PLANNED ACTIVITIES INCLUDE CONDUCTING RESEARCH IN THE FIELD OF IMAGERS FOR WAVELENGTHS FROM 1MM TO 1 MICROMETER. THIS RESEARCH WILL BENEFIT MANY APPLICATIONS SUCH AS MEDICAL RESEARCH, INSPECTION, MACHINE VISION, ETC BY OFFERING INTEGRATION, SPEED AND LOWPOWER CONSUMPTION, SUITED FOR HIGH VOLUME CONSUMER APPLICATIONS AND HIGHEND SCIENTIFIC APPLICATIONS.

Activities or mission (Part I)

CONDUCT RESEARCH IN IMAGING SYSTEMS THAT WILL BENEFIT MANY APPLICATIONS SUCH AS MEDICAL RESEARCH, INSPECTION, MACHINE VISION, ETC BY OFFERING INTEGRATION, SPEED AND LOW POWER CONSUMPTION, SUITED FOR HIGHVOLUME CONSUMER APPLICATIONS AND HIGHEND SCIENTIFIC APPLICATIONS.

  • IMEC USA NANOELECTRONICS DESIGN CENTER, INC. ("IMEC") IS A FLORIDA NOT-FOR-PROFIT CORPORATION. THE CORPORATION IS TRANSITIONING FROM SPECIALTY IMAGING SYSTEM R&D TO SUPERCONDUCTING DIGITAL ELECTRONICS R&D. SUPERCONDUCTING WILL BENEFIT FUTURE COMPUTE INFRASTRUCTURE, NOTABLY FOR CLOUD COMPUTING. THE SUPERCONDUCTING ACTIVITIES ARE CARRIED OUT BY A GROWING TEAM OF RESEARCHERS UNDER OVERSIGHT OF A PROGRAM DIRECTOR WHO REPORTS TO THE GENERAL MANAGER. THE SUPERCONDUCTING ACTIVITIES STARTED IN THE SUMMER OF 2020. IN 2021 WE EXPECT TO SEE FIRST OF A KIND WIRES AND VIAS. FOR 2023, WE EXPECT THE FIRST LOGIC GATES AND SOON THEREAFTER IN 2024 WE SHOULD SEE FIRST BASIC PROTOTYPE LOGIC BUILDING BLOCKS SUCH AS ADDERS.

    Expenses $2,141,348 · Revenue $447,895

As filed on the 2023 return.

Listed in Part VII

  • Luc Vandenhove

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 38 related

  • Filip Merckx

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 38 related

  • Ludo Deferm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 38 related

  • Max Mirgoli

    DIRECTOR

    Total calculated
    $810,822
    From this org
    $0
    From related orgs
    $788,072
    Other
    $22,750
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $401,123 related
    Bonus
    $0 + $374,949 related
    Other
    $0 + $12,000 related
    Deferred
    $0 + $22,750 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $810,822 related

  • Rudi Cartuyvels

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 38 related

  • Rajaro Jammy

    VP & GM

    Total calculated
    $306,112
    From this org
    $0
    From related orgs
    $264,654
    Other
    $41,458
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,154 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $3,500 related
    Deferred
    $0 + $21,172 related
    Nontaxable benefits
    $0 + $20,286 related
    Filer's total
    $0 + $306,112 related

  • Tricia Hoffine

    FINANCE MANAGER

    Total calculated
    $234,218
    From this org
    $199,652
    From related orgs
    $0
    Other
    $34,566
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,898
    Bonus
    $32,794
    Other
    $960
    Deferred
    $7,143
    Nontaxable benefits
    $27,423
    Filer's total
    $234,218

  • Anna Herr

    SCIENTIFIC DIRECTOR

    Total calculated
    $198,248
    From this org
    $178,203
    From related orgs
    $0
    Other
    $20,045
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,606
    Bonus
    $41,637
    Other
    $960
    Deferred
    $7,179
    Nontaxable benefits
    $12,866
    Filer's total
    $198,248

  • Emily Gallagher

    PRINCIPALMEMBEROFTECHNI

    Total calculated
    $242,987
    From this org
    $205,613
    From related orgs
    $0
    Other
    $37,374
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,065
    Bonus
    $28,448
    Other
    $8,100
    Deferred
    $9,952
    Nontaxable benefits
    $27,422
    Filer's total
    $242,987

  • Quentin Herr

    SCIENTIFIC DIRECTOR

    Total calculated
    $265,510
    From this org
    $245,402
    From related orgs
    $0
    Other
    $20,108
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,540
    Bonus
    $44,862
    Other
    $0
    Deferred
    $10,744
    Nontaxable benefits
    $9,364
    Filer's total
    $265,510

  • Veerle Reumers

    R&DMANAGER

    Total calculated
    $324,935
    From this org
    $296,399
    From related orgs
    $0
    Other
    $28,536
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,739
    Bonus
    $47,700
    Other
    $960
    Deferred
    $9,539
    Nontaxable benefits
    $18,997
    Filer's total
    $324,935

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • IMEC INTERNATIONAL STICHTING VAN OPENBAAR NUT

    TO PROMOTE SCIENTIFIC RESEARCH ON NANOTECHNOLOGY AT THE INTERNATIONAL LEVEL · BE

  • IMEC INC

    501(c)(3) · TO SUPPORT AND IMPLEMENT RESEARCH ACTIVITIES AND DEVELOPMENT OF TECHNOLOGY · CA · controlled entity

    Directly controlled by IMEC INTERNATIONAL STICHTING VAN OPENBAAR NUT

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • IMECICLINK USA INC

    C Corporation · DISTRIBUTION OF ASIC DEVELOPMENT & RELATED SUPPORT SERVICES · DE

    Directly controlled by IMEC INTERNATIONAL STICHTING VAN OPENBAAR NUT

Provenance

Return type
form_990
Tax year
2023
Filed
16 January 2025
IRS schema version
2023v6.0
Source object
202500169349301390

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