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← EXCELL PARTNERS INC

Form 990 for tax year 2022

Filed by EXCELL PARTNERS INC.

Totals

Total revenue
$947,711
Total expenses
$1,062,704
Contributions and grants received
$196,229
Grants paid
$0
Program service revenue
$0
Investment income
$16,671
Other revenue
$734,811
Total assets, end of year
$4,820,342
Total liabilities, end of year
$75,133
Net assets or fund balances, end of year
$4,745,209
Program services expenses (Part IX)
$0
Management and general expenses
$1,062,704
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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)

    $196,229

  • 3 · Investment income

    total $16,671 · related or exempt $16,671

  • 11a · Other revenue: MANAGEMENT FEES

    total $602,186 · related or exempt $602,186

  • 11b · Other revenue: CONSULTING FEES

    total $117,625 · related or exempt $117,625

  • 11c · Other revenue: CONTRIBUTED SERVICES

    total $15,000 · related or exempt $15,000

  • 11e · Other revenue, total

    $734,811

Functional expenses

Part IX, the statement of functional expenses.

  • 9 · Other employee benefits

    total $54,780 · management and general $54,780

  • 11a · Fees: management

    total $904,629 · management and general $904,629

  • 11b · Fees: legal

    total $21,544 · management and general $21,544

  • 11c · Fees: accounting

    total $25,588 · management and general $25,588

  • 12 · Advertising and promotion

    total $179 · management and general $179

  • 13 · Office expenses

    total $11,629 · management and general $11,629

  • 16 · Occupancy

    total $12,391 · management and general $12,391

  • 17 · Travel

    total $10,162 · management and general $10,162

  • 23 · Insurance

    total $1,333 · management and general $1,333

  • 24a · Other expenses: SPONSORSHIPS

    total $8,529 · management and general $8,529

  • 24b · Other expenses: TELEPHONE

    total $6,038 · management and general $6,038

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $5,902 · management and general $5,902

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $45,000 · end of year $45,000

  • 2 · Savings and temporary cash investments

    beginning of year $1,092,140 · end of year $868,510

  • 3 · Pledges and grants receivable

    end of year $62,500

  • 4 · Accounts receivable

    end of year $16,000

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

    $44,762

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

    $44,762

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $3,693,002 · end of year $3,752,923

  • 15 · Other assets

    beginning of year $47,732 · end of year $75,409

  • 17 · Accounts payable and accrued expenses

    beginning of year $70,696 · end of year $75,133

  • 27 · Net assets without donor restrictions

    beginning of year $4,807,178 · end of year $4,745,209

Mission and programs · 2022

Mission

THE COMPANY'S MISSION IS TO PROVIDE FINANCIAL SUPPORT, EDUCATION, MANAGEMENT SUPPORT AND NETWORKING CONNECTIONS TO TECHNOLOGY-BASED START-UP COMPANIES EMERGING FROM THE COMMUNITIES, UNIVERSITIES, AND RESEARCH CENTERS ACROSS UPSTATE NEW YORK.

Activities or mission (Part I)

TO PROVIDE FINANCIAL SUPPORT, EDUCATION, MANAGEMENT SUPPORT AND NETWORKING CONNECTIONS TO TECHNOLOGY-BASED START-UP COMPANIES EMERGING FROM THE COMMUNITIES, UNIVERSITIES AND RESEARCH CENTERS ACROSS UPSTATE NEW YORK.

  • PROVIDE FINANCIAL SUPPORT TO TECHNOLOGY BASED START-UPS IN THE FORM OF EQUITY AND CONVERTIBLE NOTES, TO BE USED FOR ENTITY FORMATION, BUSINESS PLANS, MARKET ASSESSMENT, RECRUITMENT AND TECHNOLOGY DEVELOPMENT. PROVIDE EDUCATIONAL AND MANAGEMENT SUPPORT, AS WELL AS CONNECTIONS TO EARLY STAGE VENTURE CAPITAL FIRMS.

As filed on the 2022 return.

Listed in Part VII

  • Michael Manikowski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Theresa Mazzullo

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $385,993
    From this org
    $0
    From related orgs
    $313,728
    Other
    $72,265
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $313,728 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $313,728 related

  • Joel Malina

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Peter Robinson

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    0.5

  • Steve McCluski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Yoram Katz

    CHIEF OPERATING OFFICER

    Total calculated
    $320,600
    From this org
    $0
    From related orgs
    $254,000
    Other
    $66,600
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $254,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $254,000 related

  • Steven Feldon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Dennis Kessler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • David Klein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Ryne Raffaelle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

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 · 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

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION OF THE ORGANIZATION'S CEO IS APPROVED BY THE COMMITTEE ON COMPLIANCE AND COMPENSATION OF THE UNIVERSITY OF ROCHESTER.

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • EXCELL INNOVATE NY FUND LP

    RELATED · FUNDING FOR START-UP COMPANIES · NY

    Directly controlled by EXCELL TECHNOLOGY VENTURES

  • EXCELL PARTNERS INNOVATION TC FUND

    RELATED · FUNDING FOR START-UP COMPANIES · NY

    Directly controlled by EXCELL TECHNOLOGY VENTURES

  • EXCELL MINORITY AND WOMEN-OWNED EMERGING BUSINESS FUND

    RELATED · FUNDING FOR START-UP COMPANIES · NY

    Directly controlled by EXCELL TECHNOLOGY VENTURES

  • FINGER LAKES VENTURE FUND

    RELATED · FUNDING FOR START-UP COMPANIES · NY

    Directly controlled by EXCELL TECHNOLOGY VENTURES

Related corporations and trusts

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

  • EXCELL TECHNOLOGY VENTURES INC

    C · GENERAL PARTNER OF EXCELL INNOVATE NY FUND, LP · NY

    Directly controlled by ROCHESTER BIOVENTURE CENTER INC

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202323199349317807

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