2023-10-31T06:59:53-05:00 2023-06-30 431126847 WILLIAMS-KEEPERS LLC 3220 WEST EDGEWOOD STE E JEFFERSON CITY MO 65109 990 2022-07-01 431341372 MISSOURI TECHNOLOGY CORPORATION MISS 5735261558 PO BOX 2137 JEFFERSON CITY MO 65102 DEDRIC CARTER CHAIRMAN OF THE BOARD 3149354556 2023-10-27 1 DEDRIC CARTER 999009999 0 KATHLEEN A GRAESSLE P00048898 5736356196 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DEDRIC CARTER ONE BROOKINGS DRIVE NORTH BROOKINGS STE 126 CAMPUS BOX 1182 ST LOUIS MO 63130 57612488 0 X WWW.MISSOURITECHNOLOGY.COM X 1983 MO MTC PROMOTES ENTREPRENEURSHIP AND FOSTERS THE GROWTH OF HIGH-TECH COMPANIES IN MISSOURI. 14 14 6 14 0 0 7349670 50219323 0 0 219022 702824 4598360 6690341 12167052 57612488 2337680 18107651 0 0 330808 543425 0 0 0 3961184 954606 6629672 19605682 5537380 38006806 62323111 113462871 1368672 14501626 60954439 98961245 X THE MISSION OF THE MTC IS TO PROVIDE LEADERSHIP AND MAKE STRATEGIC INVESTMENTS THAT HELP ENTREPRENEURS CREATE AND GROW TECHNOLOGY-BASED MISSOURI BUSINESSES. 0 0 14904270 14850000 15000000 THE ADVANCED MANUFACTURING RESILIENCY GRANT PROGRAM PROVIDES GRANT-BASED FUNDING FOR THE CREATION OF INFRASTRUCTURE FOR INDUSTRIES THAT ARE FUNDAMENTAL TO THE NATIONAL SECURITY OF THE UNITED STATES WHERE THE MANUFACTURING OF ESSENTIAL PRODUCTS HAS BECOME RELIANT ON PRODUCTION OUTSIDE OF THE UNITED STATES. THE PROGRAM FOCUSES ON SUCH MANUFACTURING WHERE MISSOURI HAS AN INHERENT CONNECTION OR ADVANTAGE CREATING AN ENVIRONMENT FOR SIGNIFICANT GROWTH IN MISSOURI'S ECONOMY, INCLUDING BUT NOT LIMITED TO ADVANCED AND INNOVATIVE MANUFACTURING OF ACTIVE PHARMACEUTICAL INGREDIENTS AND SEMICONDUCTORS. 3803416 3257651 10814088 THE MISSOURI TECHNOLOGY INVESTMENT PROGRAM FUNDS INNOVATION CENTERS AROUND THE STATE WHOSE PURPOSE IS TO PROVIDE VITAL SERVICES TO TECHNOLOGY STARTUPS OFFERING AN ENVIRONMENT TO FOSTER GROWTH TO A POINT WHERE THESE STARTUPS ARE MORE LIKELY TO RECEIVE VENTURE INVESTMENTS, CORPORATE AND GOVERNMENT CONTRACTS, AND EVENTUALLY ENTER THE MARKETPLACE. THIS FUNDING SOURCE ALSO SUPPORTS MTC'S CAPITAL FORMATION PROGRAM, THE IDEA FUNDS WHICH PROVIDE CO-INVESTMENT TO ELIGIBLE HIGH-TECH, EARLY STAGE AND STARTUP COMPANIES AND ITS MISSOURI BUILDING ENTREPRENEURIAL CAPACITY (MOBEC) PROGRAM WHICH PROVIDES GRANT FUNDING TO REGIONAL AND LOCAL NON-PROFIT ORGANIZATIONS AND HIGHER EDUCATION INSTITUTIONS TO SUPPORT INITIATIVES THAT ASSIST ENTREPRENEURS OR ENHANCES MISSOURI'S RESEARCH AND COMMERCIALIZATION CAPABILITIES. 112248 26869323 THE STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI 2.0) IS A PROGRAM ADMINISTERED BY THE U.S. DEPARTMENT OF TREASURY TO SUPPORT STATE PROGRAMS TO INCREASE THE AMOUNT OF PRIVATE CAPITAL MADE AVAILABLE TO SMALL BUSINESSES AND TO COVER REASONABLE ADMINISTRATIVE EXPENSES. MTC USES THE SSBCI PROGRAM FUNDS TO SUPPORT ITS INNOVATION, DEVELOPMENT, AND ENTREPRENEURIAL ADVANCEMENT (IDEA) FUND CO-INVESTMENT PROGRAM WHICH MAKES DIRECT INVESTMENTS INTO MISSOURI-BASED TECHNOLOGY STARTUPS FOR THE PURPOSE OF SUPPORTING TECHNOLOGY AND BUSINESS DEVELOPMENT. 553999 0 4357292 THE LEWIS AND CLARK DISCOVERY INITIATIVE PROVIDES FUNDS TO THE MISSOURI TECHNOLOGY CORPORATION TO PROVIDE LOANS AND GRANTS TO HIGH-TECH SMALL BUSINESS LOCATED IN MISSOURI.THE STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI) IS A PROGRAM ADMINISTERED BY THE U.S. DEPARTMENT OF TREASURY TO SUPPORT STATE PROGRAMS TO INCREASE THE AMOUNT OF PRIVATE CAPITAL MADE AVAILABLE TO SMALL BUSINESSES AND TO COVER REASONABLE ADMINISTRATIVE EXPENSES. MTC USES THE SSBCI PROGRAM TO SUPPORT THE HIGH-TECH MISSOURI INNOVATION, DEVELOPMENT AND ENTREPRENEURIAL ADVANCEMENT (IDEA) SEED AND VENTURE CAPITAL FUNDS DESIGNED TO HELP HIGH-TECH MISSOURI ENTREPRENEURS TO ACCELERATE PRIVATE INVESTMENT IN MISSOURI TECHNOLOGY EARLY-STAGE COMPANIES AND TO CREATE NEW, HIGH-TECH JOBS IN THE STATE.THE NATIONAL GEOSPATIAL-INTELLIGENCE AGENCY (NGA) IS A UNIQUE COMBINATION OF INTELLIGENCE AGENCY AND COMBAT SUPPORT AGENCY. NGA SEEKS TO ADVANCE ITS TECHNOLOGY TRANSFER EFFORTS FOR THE COMMERCIALIZATION OF FEDERALLY DEVELOPED TECHNOLOGY. THROUGH A PARTNERSHIP WITH THE MISSOURI TECHNOLOGY CORPORATION (MTC), NGA WILL ENGAGE WITH PARTNERS IN THE GREATER ST. LOUIS REGION TO DRIVE INNOVATION IN GEOSPATIAL TECHNOLOGY THROUGH COLLABORATION AND A TRANSFER OF TECHNOLOGY AND SUBJECT MATTER EXPERTISE. THE MTC HAS BEEN TASKED WITH LAUNCHING AND COORDINATING COMPETITIVE PROGRAMS DESIGNED TO DELIVER INNOVATIVE AND COMMERCIALLY VIABLE SOLUTIONS THAT EITHER MATCH NGA'S OR THEIR CUSTOMER'S CURRENT AND FUTURE TECHNOLOGY NEEDS. 553999 0 4357292 19373933 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 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 0 0 0 0 0 0 1 15 0 1 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MO X AMY STEINMAN 5737517265 301 W HIGH STREET JEFFERSON CITY MO 65102 JIM BAKER SECRETARY/TREASURER 2.50 X X 0 0 0 JOHN SCATIZZI EXECUTIVE DIRECTOR 40.00 X X 120417 0 27904 STEPHANIE REGAGNON DIRECTOR 0.50 X 0 0 0 TOM SPENCER DIRECTOR 0.50 X 0 0 0 AJAY K JHAMB DIRECTOR 0.50 X 0 0 0 ALLEN DILLINGHAM DIRECTOR 0.50 X 0 0 0 ERWIN SWITZER DIRECTOR 2.50 X 0 0 0 KATHRYN ALLEN DIRECTOR 0.50 X 0 0 0 MICHAEL OCONNELL III DIRECTOR 1.50 X 0 0 0 DONN RUBIN DIRECTOR 1.50 X 0 0 0 DAN COBB VICE CHAIR 2.50 X X 0 0 0 DEDRIC CARTER CHAIR 5.00 X X 0 0 0 DENNY HOSKINS DIRECTOR 0.50 X 0 0 0 ALEX RILEY DIRECTOR 0.50 X 0 0 0 MICHELLE HATAWAY DIRECTOR 1.50 X 0 0 0 120417 0 27904 1 0 0 0 CAPITAL INNOVATORS ACCELERATOR LLC 1111 WHITMOOR DR WELDON SPRING MO 63304 EDUCATIONAL SERVICES 490000 THOMPSON COBURN ONE US BANK PLAZA ST LOUIS MO 63101 LEGAL 148544 2 50219323 50219323 702824 702824 GAIN ON INVESTMENTS 541900 6685870 6685870 PROGRAM DEOBLIGATIONS 541900 3888 3888 MISCELLANEOUS INCOME 541900 583 583 6690341 57612488 6690341 0 702824 18107651 18107651 145867 129863 16004 361445 287318 74127 36113 29206 6907 195770 115244 80526 28538 19501 9037 614430 596699 17731 25854 25854 17878 17578 300 6805 4317 2488 17819 859 16960 ADMINISTRATIVE EXPENSES 37785 35468 2317 DUES AND SUBSCRIPTIONS 5160 160 5000 TELECOMMUNICATIONS 3722 3422 300 PRINTING & REPRODUCTION 520 468 52 325 325 19605682 19373933 231749 0 19919058 62219215 10214432 5256359 5384775 7375414 7375415 29772280 28269034 62323111 113462871 1368672 14501626 1368672 14501626 X 59950415 31490006 1004024 67471239 60954439 98961245 62323111 113462871 38006806 0 X X 0 0 0 X 3182500 500250 3295098 7349670 50219323 64546841 3182500 500250 3295098 7349670 50219323 64546841 64546841 1370090 590916 929839 219022 702824 3812691 6269610 212529 3006566 14692566 6690341 30871612 99231144 0.65050 0.36820 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REALIZED GAIN ON EQUITY INVESTMENTS PROGRAM DEOBLIGATIONS NET REALIZED GAIN - NON-CASH RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 INVESTMENT - ADARZA BIOSYSTEMS INC. 1277273 C INVESTMENT - ADSWAPPER INC. 220027 C INVESTMENT - APTIMMUNE BIOLOGICS INC. 700000 C INVESTMENT - ARCH ONCOLOGY INC. (LCDI) 203154 C INVESTMENT - ARCH ONCOLOGY INC, (MOTIF) 145463 C INVESTMENT - ARCH ONCOLOGY INC. (SSBCI) 385035 C INVESTMENT - ARCH ONCOLOGY INC. (SSBCI-BRIDGE) 572345 C INVESTMENT - BABYATION INC.- SAFE 350000 C INVESTMENT - BACKSTITCH INC. 515349 C INVESTMENT - BACTERIOSCAN INC. 500000 C INVESTMENT - BODITRAK SPORTS LLC 131053 C INVESTMENT - BONFYRE INC. 300473 C INVESTMENT - CELLARIDE, LLC -5635 C INVESTMENT - COMPATIO LLC 207434 C INVESTMENT - DATANALYTICS INC. DBA JURISTAT 300000 C INVESTMENT - DENIM SOFTWARE INC./GREMLN LLC (MOTIF) 377762 C INVESTMENT - DENIM SOFTWARE INC./GREMLN LLC (SSBCI) 449915 C INVESTMENT - DIGITAL LEGACY (MOTIF) 126134 C INVESTMENT - DIGITAL LEGACY (SSBCI) 184296 C INVESTMENT - DIGITAL LEGACY LLC - SAFE (MOTIF) 250000 C INVESTMENT - EDISON AGROSCIENCES INC. 231658 C INVESTMENT - ELECTROCHAEA LLC 266799 C INVESTMENT - ELIRA INC. 268123 C INVESTMENT - EUCLISES PHARMACEUTICALS INC. (MOTIF) 200000 C INVESTMENT - EUCLISES PHARMACEUTICALS INC. (SSBCI) 300000 C INVESTMENT - EUPHRATES VASCULAR INC./PULSE THERAPEUTICS (SSBCI) 1000000 C INVESTMENT - EUPHRATES VASCULAR INC/PULSE THERAPEUTICS (LCDI) 197075 C INVESTMENT - EUPHRATES VASCULAR INC/PULSE THERAPEUTICS (MOTIF) 250000 C INVESTMENT - EXCITE PHARMA SERVICES LLC 200622 C INVESTMENT - FINLOCKER LLC -25697 C INVESTMENT - FITBARK INC. 199992 C INVESTMENT - FREIEZO, INC. 18859 C INVESTMENT - GENEOSCOPY INC. - SAFE 960698 C INVESTMENT - GIRLS ASK GUYS 357746 C INVESTMENT - GREETING QUBE LLC 91998 C INVESTMENT - HEALTHY HIP HOP INC. 85745 C INVESTMENT - IMMUNOPHOTONICS INC. (LCDI) 100870 C INVESTMENT - IMMUNOPHOTONICS INC. (MOTIF) 151118 C INVESTMENT - IMMUNOPHOTONICS INC. (SERIES A) 604509 C INVESTMENT - IMMUNOPHOTONICS INC. (SSBCI) 207343 C INVESTMENT - IMPETUS AGRICULTURE INC. 100000 C INVESTMENT - ISHARE MEDICAL LLC 125387 C INVESTMENT - KATALYST HOLDCO LLC (LCDI) 153885 C INVESTMENT - KATALYST HOLDCO LLC (MOTIF) -139289 C INVESTMENT - KIOSITE LLC 210179 C INVESTMENT - KREMANAK NANO TECH INC. - SAFE 250000 C INVESTMENT - KULTEVAT INC. 500000 C INVESTMENT - KYPHA INC. 880069 C INVESTMENT - LEAN MEDIA INC. 173441 C INVESTMENT - LITTLEHOOTS LLC 32350 C INVESTMENT - MATHBRIX LLC -19239 C INVESTMENT - MEDAWARE SOLUTIONS INC. 250000 C INVESTMENT - MEDIBEACON (SSBCI) 923486 C INVESTMENT - MISSION CONTROL G INC. SAFE 50000 C INVESTMENT - MISSOURI PLANT SCIENCE CENTER LLC 1500000 C INVESTMENT - MOBLICO SOLUTIONS LLC (MOTIF) 69186 C INVESTMENT - MOBLICO SOLUTIONS LLC (SSBCI) 442943 C INVESTMENT - MOVING OFF CAMPUS LLC 700 C INVESTMENT - MYCROFT AL INC. 1384386 C INVESTMENT - ORANGE EV LLC -47283 C INVESTMENT - PAYIT LLC -5670 C INVESTMENT - PLANIT IMPACT INC. 100000 C INVESTMENT - PLASTOMICS INC.(MOTIF) 250150 C INVESTMENT - PLASTOMICS INC.(SSBCI) 500000 C INVESTMENT - POPBOOKINGS LLC (MOTIF) 22221 C INVESTMENT - POPBOOKINGS LLC (SSBCI) 6374 C INVESTMENT - PROBIOTIC HOLDIGS LLC 250859 C INVESTMENT - READOUT INC. 575000 C INVESTMENT - RECURSIVE LABS (CWNN) 1325549 C INVESTMENT - RIBO HOLDINGS LLC (LCDI) 1285 C INVESTMENT - RIBO HOLDINGS LLC (MOTIF) 9864 C INVESTMENT - RIBO HOLDINGS LLC (SSBCI) 5470 C INVESTMENT - SENSRTRX LLC 77064 C INVESTMENT - SFARA INC. 300000 C INVESTMENT - SICKWEATHER INC. 180979 C INVESTMENT - SMARTCARE CONSULTANTS LLC 192276 C INVESTMENT - SOLIS AGROSCIENCES INC. 99999 C INVESTMENT - SPARO INC. 275000 C INVESTMENT - STORYUP INC.(MOTIF) 130154 C INVESTMENT - STORYUP INC.(SSBCI) 103490 C INVESTMENT - SYSTEMATIC REVENUE LLC 92201 C INVESTMENT - TALLYFY INC. - SAFE 340000 C INVESTMENT - TAVR SOLUTIONS LLC - SAFE 200000 C INVESTMENT - THERMAVANT TECHNOLOGIES LLC 491944 C INVESTMENT - TOPLINE PROS LLC FKA: SOFTVU LLC 37879 C INVESTMENT - UM/FLW TECHNOLOGY 1605605 C INVESTMENT - VENTURE 360 INC 160372 C INVESTMENT - ZAF ENERGY SYSTEMS INC. 1243232 C 28269034 CONTRACTUAL COMMITTED FUNDS 14501626 14501626 1 BRUSH CREEK ENTERPRISE CENTER PO BOX 287 SMITHVILLE MO 64089 431899271 501(C)3 0 124845 MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN KANSAS CITY, MISSOURI CENTER FOR EMERGING TECHNOLOGIES 4041 FOREST PARK AVENUE ST LOUIS MO 63108 431329843 501(C)3 0 206902 MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN ST. LOUIS, MISSOURI CITY OF KIRKSVILLE - INNOVATION CENTER 100 EAST NORMAL VH1100 KIRKSVILLE MO 63501 261382458 0 21743 MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN KIRKSVILLE, MISSOURI JOPLIN AREA CHAMBER OF COMMERCE 320 EAST 4TH STREET JOPLIN MO 64801 431569729 501(C)3 0 56160 MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN JOPLIN, MISSOURI JOPLIN AREA CHAMBER OF COMMERCE 320 EAST 4TH STREET JOPLIN MO 64801 431569729 501(C)3 0 50000 MTC GRANTED FUNDING TO EXPAND ENTREPRENEURIAL CAPACITY IN JOPLIN, MISSOURI MISSOURI ENTERPRISE 1706 E TENTH ST ROLLA MO 65401 431337021 501(C)3 0 539747 MTC GRANTED FUNDING FOR THE OPERATION OF MISSOURI'S MANUFACTURING EXTENSION PARTNERSHIP PROGRAM MISSOURI INNOVATION CENTER 1601 S PROVIDENCE RD COLUMBIA MO 65211 431350262 501(C)3 0 159860 MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN COLUMBIA, MISSOURI MISSOURI STATE UNIVERSITY 901 SOUTH NATIONAL AVE SPRINGFIELD MO 65897 446000308 0 5400000 MTC GRANTED FUNDING TO DEVELOP SEMICONDUCTOR MANUFACTURING INFRASTRUCTURE WITHIN MISSOURI MISSOURI STATE UNIVERSITY 901 SOUTH NATIONAL AVE SPRINGFIELD MO 65897 446000308 0 270726 MTC GRANTED FUNDING TO EXPAND ENTREPRENEURIAL CAPACITY THROUGHOUT SOUTHERN MISSOURI SPRINGFIELD INNOVATION CENTER 901 SOUTH NATIONAL AVE SPRINGFIELD MO 65897 446000308 0 80770 MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN SPRINGFIELD, MISSOURI ST JOSEPH INNOVATION CENTER 4221 MITCHELL AVE ST JOSEPH MO 64507 201215246 501(C)3 0 22820 MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN ST. JOSEPH, MISSOURI UNIVERSITY OF MISSOURI - KANSAS CITY 5100 ROCKHILL ROAD KANSAS CITY MO 65110 436003859 0 449078 MTC GRANTED FUNDING TO EXPAND ENTREPRENEURIAL CAPACITY IN KANSAS CITY, MISSOURI, AND THROUGHOUT MISSOURI API INNOVATION CENTER 4240 DUNCAN AVE ST LOUIS MO 63110 871772821 0 9450000 MTC GRANTED FUNDING TO DEVELOP ACTIVE PHARMACEUTICAL INGREDIENT MANUFACTURING INFRASTRUCTURE WITHIN MISSOURI CODEFI FOUNDATION ON RURAL INNOVATION INC MARQUETTE TECH DISTRICT FOUNDAT 1610 N KINGSHIGHWAY STE 301 CAPE GIRARDEAU MO 63701 812556748 501(C)3 0 600000 MTC GRANTED FUNDING TO EXPAND ENTREPRENEURIAL CAPACITY THROUGHOUT SOUTHERN MISSOURI THE LAUNCH CODE FOUNDATION 4811 DELMAR BLVD ST LOUIS MO 63108 471718432 501(C)3 0 250000 MTC GRANTED FUNDING TO EXPAND ENTREPRENEURIAL CAPACITY IN ST. LOUIS AND KANSAS CITY MISSOURI LAUNCHKC DTC (DOWNTOWN KC CIVIC VENTURES) 1000 WALNUT ST 200 KANSAS CITY MO 64106 431146626 501(C)3 0 125000 MTC GRANTED FUNDING TO EXPAND ENTREPRENEURIAL CAPACITY IN KANSAS CITY, MISSOURI BIOSTL 4340 DUNCAN STE 100 ST LOUIS MO 63110 452137574 501(C)3 0 150000 MTC GRANTED FUNDING TO EXPAND ENTREPRENEURIAL CAPACITY IN ST. LOUIS, MISSOURI UNIVERSITY OF MISSOURI - ST LOUIS ONE UNIVERSITY BLVD ST LOUIS MO 63121 436003859 0 150000 MTC GRANTED FUNDING TO EXPAND ENTREPRENEURIAL CAPACITY IN ST. LOUIS, MISSOURI PART I, LINE 2: THE MISSOURI TECHNOLOGY CORPORATION REQUIRES ALL GRANTEES TO PERIODICALLY PROVIDED WRITTEN NARRATIVE AND FINANCIAL REPORTS DESCRIBING USE OF GRANT FUNDING. REPORTS ARE REVIEWED BY MISSOURI TECHNOLOGY CORPORATION STAFF FOR COMPLIANCE. FORM 990, PART VI, SECTION A, LINE 7A BOARD MEMBERS OF MISSOURI TECHNOLOGY CORPORATION ARE APPOINTED BY THE GOVERNOR OF THE STATE OF MISSOURI. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WILL BE REVIEWED BY THE AUDIT & FINANCE COMMITTEE AND THE EXECUTIVE DIRECTOR PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. A COPY OF FORM 990 WILL ALSO BE PROVIDED TO THE BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C DURING THE FISCAL PERIOD ENDING JUNE 30, 2010, THE BOARD OF MISSOURI TECHNOLOGY CORPORATION ADOPTED A CONFLICT OF INTEREST POLICY. THE MTC BOARD REVIEWS THE CONFLICT OF INTEREST ANNUALLY AT A BOARD MEETING. BOARD MEMBERS ANNUALLY SIGN ACKNOWLEDGEMENTS STATING THAT THEY HAVE RECEIVED AND REVIEWED THE CONFLICT OF INTEREST POLICY. ADDITIONALLY, ALL APPLICANTS FOR MTC FUNDING ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION C, LINE 19 THE MISSOURI TECHNOLOGY CORPORATION MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST. FORM 990 PART XII FINANCIAL STATEMENTS AND REPORTING LINE 1 ACCOUNTING METHOD - MODIFIED CASH BASIS