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Nonprofiteer
← IMEC USA NANOELECTRONICS DESIGN CENTER

Form 990 for tax year 2022

Filed by IMEC USA NANOELECTRONICS DESIGN CENTER.

Totals

Total revenue
$3,454,360
Total expenses
$3,454,360
Contributions and grants received
$2,986,845
Grants paid
$0
Program service revenue
$459,554
Investment income
$7,961
Other revenue
$0
Total assets, end of year
$7,173,938
Total liabilities, end of year
$7,173,938
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$1,755,076
Management and general expenses
$1,699,284
Fundraising expenses
$0
Program service expenses (Part III)
$1,755,076

Program services were 50.8% 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)

    $2,986,845

  • 2a · Program service revenue: CONTRACT R&D REVENUE

    total $459,554 · related or exempt $459,554

  • 3 · Investment income

    total $7,961 · excluded $7,961

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $223,590 · program services $160,963 · management and general $62,627

  • 7 · Other salaries and wages

    total $918,376 · program services $673,586 · management and general $244,790

  • 8 · Pension plan contributions

    total $56,772 · program services $42,576 · management and general $14,196

  • 9 · Other employee benefits

    total $311,879 · program services $210,378 · management and general $101,501

  • 10 · Payroll taxes

    total $142,509 · program services $83,777 · management and general $58,732

  • 11b · Fees: legal

    total $32,492 · management and general $32,492

  • 11c · Fees: accounting

    total $53,745 · program services $49 · management and general $53,696

  • 12 · Advertising and promotion

    total $9,627 · management and general $9,627

  • 13 · Office expenses

    total $30,075 · program services $20,335 · management and general $9,740

  • 14 · Information technology

    total $105,121 · program services $1,809 · management and general $103,312

  • 16 · Occupancy

    total $332,518 · program services $1,322 · management and general $331,196

  • 17 · Travel

    total $39,779 · program services $33,395 · management and general $6,384

  • 19 · Conferences, conventions and meetings

    total $16,059 · program services $15,125 · management and general $934

  • 20 · Interest

    total $9,307 · program services $55 · management and general $9,252

  • 22 · Depreciation, depletion and amortization

    total $527,478 · management and general $527,478

  • 23 · Insurance

    total $34,228 · management and general $34,228

  • 24a · Other expenses: PRODUCTION & SOURCING R

    total $494,700 · program services $494,700

  • 24b · Other expenses: OTHER PERSONNEL EXPENSE

    total $34,385 · program services $3,398 · management and general $30,987

  • 24c · Other expenses: PATENT COST

    total $28,669 · management and general $28,669

  • 24d · Other expenses: MEMBERSHIP FEES & SUBSC

    total $9,070 · program services $558 · management and general $8,512

  • 24e · All other expenses

    total $43,981 · program services $13,050 · management and general $30,931

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $377,338 · end of year $773,568

  • 2 · Savings and temporary cash investments

    beginning of year $5,343,286 · end of year $5,345,591

  • 4 · Accounts receivable

    beginning of year $279,662 · end of year $127,883

  • 9 · Prepaid expenses and deferred charges

    beginning of year $81,464 · end of year $67,035

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

    $3,109,113

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

    $2,284,118

  • 10c · Land, buildings and equipment, net

    beginning of year $1,545,430 · end of year $824,995

  • 15 · Other assets

    beginning of year $165,111 · end of year $34,866

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,209,835 · end of year $606,407

  • 19 · Deferred revenue

    beginning of year $6,582,456 · end of year $6,567,531

Mission and programs · 2022

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 (CONTINUED ON SCHEDULE O) FOR WAVELENGTHS FROM 1MM TO 1 MICROMETER. THIS RESEARCH WILL BENEFIT MANY APPLICATIONS SUCH AS MEDICAL RESEARCH, INSPECTION, MACHINE VISION, ETC BY OFFERING INTERGRATION, SPEED AND LOW-POWER CONSUMPTION, SUITED FOR HIGH-VOLUME CONSUMER APPLICATIONS AND HIGH-END SCIENTIFIC APPLICATIONS.

Activities or mission (Part I)

CONDUCT RESEARCH IN IMAGING SYSTEMS (CONTINUED ON SCHEDULE O).THAT WILL BENEFIT MANY APPLICATIONS SUCH AS MEDICAL RESEARCH, INSPECTION, MACHINE VISION, ETC BY OFFERING INTERGRATION, SPEED AND LOW-POWER CONSUMPTION, SUITED FOR HIGH-VOLUME CONSUMER APPLICATIONS AND HIGH-END 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 $1,755,076 · Revenue $459,554

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Patricia Hoffine

    INTERIM VP & GM

    Total calculated
    $223,591
    From this org
    $197,087
    From related orgs
    $0
    Other
    $26,504
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,809
    Bonus
    $47,318
    Other
    $960
    Deferred
    $7,604
    Nontaxable benefits
    $18,900
    Filer's total
    $223,591

  • Veerle Reumers

    R&D MANAGER

    Total calculated
    $219,110
    From this org
    $183,089
    From related orgs
    $0
    Other
    $36,021
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,142
    Bonus
    $22,947
    Other
    $0
    Deferred
    $9,173
    Nontaxable benefits
    $26,848
    Filer's total
    $219,110

  • Emily Gallagher

    PRINCIPAL MEMBER OF TECHNI

    Total calculated
    $204,438
    From this org
    $170,757
    From related orgs
    $0
    Other
    $33,681
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,241
    Bonus
    $14,416
    Other
    $8,100
    Deferred
    $8,221
    Nontaxable benefits
    $25,460
    Filer's total
    $204,438

  • Aritra Banerjee

    R&D ENGINEER

    Total calculated
    $168,267
    From this org
    $153,725
    From related orgs
    $0
    Other
    $14,542
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,489
    Bonus
    $23,236
    Other
    $0
    Deferred
    $7,686
    Nontaxable benefits
    $6,856
    Filer's total
    $168,267

  • Luc Van Den Hove

    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

  • Rudi Cartuyvels

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 38 related

  • Max Mirgoli

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 38 related

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

  • 2 · Substantiation required before reimbursing expenses
  • 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 · DISTRIBUTION OF ASIC DEVELOPMENT & RELATED SUPPORT SERVICES · DE

    Directly controlled by IMEC INTERNATIONAL STICHTING VAN OPENBAAR NUT

Provenance

Return type
form_990
Tax year
2022
Filed
19 December 2023
IRS schema version
2022v5.0
Source object
202323539349300232

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