2024-07-31T16:04:36-05:00 2023-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 20 STANWIX STREET PITTSBURGH PA 15222 990 2023-01-01 300044478 PITTSBURGH LIFE SCIENCES GREENHOUSE PITT 4122017370 2403 SIDNEY STREET 200 PITTSBURGH PA 15203 DIANA CUGLIARI PRESIDENT & CEO 4122017370 2024-07-08 1 1 JEFFREY J SPENGLER CPA P00109764 4126976400 2024-07-08 2023 2024-08-08 14:25:15Z DIANA CUGLIARI 2403 SIDNEY STREET 200 PITTSBURGH PA 15203 242650 0 X WWW.PLSG.COM X 2001 PA FOSTERS DEVELOPMENT OF THE WESTERN PENNSYLVANIA LIFE SCIENCES INDUSTRY. 5 4 3 5 0 0 1335758 0 196904 0 -2479976 -897085 4440 59 -942874 -897026 17500 0 0 0 576628 456274 0 0 0 1270561 565994 1864689 1022268 -2807563 -1919294 3904625 1990231 6099387 5646255 -2194762 -3656024 X PITTSBURGH LIFE SCIENCES GREENHOUSE (PLSG) IS DESIGNED TO BE THE ECONOMIC DEVELOPMENT ENGINE BEHIND LIFE SCIENCES IN WESTERN PENNSYLVANIA. OUR MISSION IS TO LEVERAGE THE INTELLECTUAL CAPITAL OF THE REGION'S WORLD-CLASS UNIVERSITIES AND MEDICAL FACILITIES TO ESTABLISH LIFE SCIENCES COMPANIES WITH THE GOAL OF SPEEDING UP THE ROUTING OF PRODUCT FROM TECHNOLOGY DEVELOPMENT TO COMMERCIALIZATION. 0 0 134256 0 0 EXECUTIVE PROGRAM PROVIDES SEASONED LIFE SCIENCES EXECUTIVES AS EXECUTIVES IN RESIDENCE (EIR) TO EARLY STAGE LIFE SCIENCES COMPANIES. THE VALUE OF SERVICES PROVIDED FREE OF CHARGE TO 32 COMPANIES WAS OVER $650,000 IN THE CURRENT YEAR. SINCE INCEPTION, PLSG EIR'S HAVE PROVIDED 505 COMPANIES WITH OVER $14 MILLION OF SERVICES. PLSG HAS ALSO MADE 235 INVESTMENTS INTO 90 COMPANIES TOTALING OVER $22.4 MILLION. 250892 0 0 ACCELERATOR FUNDS - PLSG, THROUGH ITS DISREGARDED ENTITY PLSG ACCELERATOR FUND MANAGEMENT, LLC, MANAGES THE PLSG ACCELERATOR FUND, LLC AND ACCELERATOR FUND II, LLC IN RETURN FOR A MANAGEMENT FEE FOR THE SERVICES PROVIDED. THE FUNDS MAKE LATER-STAGE INVESTMENTS IN LIFE SCIENCE COMPANIES. 0 0 0 INCUBATOR - PROVIDES TURNKEY SHARED OFFICE SPACE TO LIFE SCIENCE COMPANIES UNDER FAVORABLE SHORT-TERM LEASES IN PLSG'S OFFICES. 25794 0 0 HEALTH IT PITTSBURGH IS A CLUSTER INITIATIVE COMMITTED TO CONNECT HEALTHCARE & INFORMATION TECHNOLOGY, GROWING COMPANIES, DEVELOPING THE WORKFORCE AND CREATING JOBS IN WESTERN PENNSYLVANIA.MARKETING - RAISES THE AWARENESS OF REGIONAL STRENGTHS IN THE LIFE SCIENCES INDUSTRY AND PROMOTES THE REGION'S LIFE SCIENCES INDUSTRY. 25794 0 0 410942 1 0 0 1 0 0 0 0 0 0 1 0 1 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 0 1 1 1 0 0 0 1 17 0 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X DIANA CUGLIARI 4122017370 2403 SIDNEY STREET SUITE 200 PITTSBURGH PA 15203 DIANA CUGLIARI PRESIDENT & CEO 48.00 4.00 X X 234080 0 31508 JOHN KUZMISHIN CHAIRMAN OF THE BOARD 0.30 0.00 X X 0 0 0 PETER M DECOMO DIRECTOR 0.30 0.00 X 0 0 0 TIMOTHY MCNULTY DIRECTOR 0.30 0.00 X 0 0 0 DR ANANTHA SHEKAR DIRECTOR 0.30 0.00 X 0 0 0 ALAN WEST EXECUTIVE IN RESIDENCE 22.00 5.00 X 151502 0 15447 385582 0 46955 2 0 1 0 0 242591 242591 1139676 -1139676 -1139676 -1139676 MISCELLANEOUS INCOME 900099 59 59 59 -897026 0 0 -897026 390272 121980 268292 23458 7272 16186 16521 5122 11399 26023 8286 17737 85509 18427 67082 69737 15028 54709 8297 1788 6509 92365 19903 72462 2139 2139 13232 13232 18447 16760 1687 20052 20052 743 743 163778 162454 1324 1102 1102 35932 7743 28189 BOOKS, SUBSCRIPTIONS AN 53620 22999 30621 TAXES 1041 1041 1022268 410942 611326 0 391125 149834 491083 240993 86132 50000 964 5762 2908 70050 70050 1102 0 2928457 1546496 3904625 1990231 1692248 1768316 4407139 3877939 6099387 5646255 X -2194762 -3656024 -2194762 -3656024 3904625 1990231 X -1919294 289797 168235 X 0 1 X 1 0 X 1114622 1073434 838314 1335758 4362128 1114622 1073434 838314 1335758 4362128 4362128 360971 141629 247378 680529 242591 1673098 5143 82 195 72 59 5551 6040777 757089 0.72210 0.74210 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 5,143. 2020 AMOUNT: $ 82. 2021 AMOUNT: $ 195. 2022 AMOUNT: $ 72. 2023 AMOUNT: $ 59. 0 0 0 0 0 0 0 0 1 8297 8297 0 PART II-B, LINE 1: GREENLEE PARTNERS AND KEYSTONE INGENUITY IS A HIRED STATE LOBBYING SERVICE THAT IS SHARED ACROSS ALL THREE GREENHOUSES TO ASSIST WITH COMMUNICATION WITH LEGISLATORS. 0 0 70050 70050 0 0 NOTES AND EQUITY INVESTMENTS 3600561 C INVESTMENT IN SUBSIDIARY -2054065 F 1546496 X -438994 289797 168235 458032 -897026 0 -897026 1022268 0 1022268 0 1022268 PART X, LINE 2: PLSG ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THAT THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AS OF DECEMBER 31, 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: EQUITY IN NET INCOME OF SUBSIDIARY 168,235. 1 X X X X X 0 0 0 0 0 0 0 1 0 DIANA CUGLIARI PRESIDENT & CEO 205830 0 28250 0 0 0 29532 0 1976 0 265588 0 0 0 ALAN WEST EXECUTIVE IN RESIDENCE 140431 0 11071 0 0 0 15447 0 0 0 166949 0 0 0 PART I, LINE 7 MOST EMPLOYEES ARE ELIGIBLE FOR AN ANNUAL BONUS. THE AMOUNT OF THE BONUS IS DETERMINED AT DATE OF HIRE OR AS PART OF THEIR OVERALL COMPENSATION INCREASE. THE AMOUNT ACTUALLY PAID OR WHETHER IT CAN BE PAID IS DISCRETIONARY. THE CEO DETERMINES THE AMOUNT OF EACH EMPLOYEE'S RECOMMENDED BONUS, BUT THE FINAL AMOUNT IS REVIEWED AND APPROVED THE COMPENSATION COMMITTEE BEFORE PAYMENT IS MADE. FORM 990, PART VI, SECTION A, LINE 6 MPC CORPORATION IS THE SOLE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A PLSG'S BY-LAWS PROVIDE FOR MPC CORPORATION TO ELECT THE BOARD OF DIRECTORS. MPC CORPORATION IS THE SOLE MEMBER OF PLSG AND IS OWNED SOLELY BY THE UNIVERSITY OF PITTSBURGH AND CARNEGIE MELLON UNIVERSITY. THE PA SECRETARY OF THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT AND THE PA SECRETARY OF HEALTH SERVE AS EX-OFFICIO DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B MPC CORPORATION'S APPROVAL IS REQUIRED TO REMOVE A DIRECTOR AND TO AMEND, ALTER, OR REPEAL PLSG'S BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS INITIALLY PREPARED BY THE ORGANIZATION'S CERTIFIED PUBLIC ACCOUNTING FIRM. THE FORM 990 IS THEN REVIEWED IN DETAIL BY THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER, AND AUDIT COMMITTEE PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. THE FULL BOARD OF DIRECTORS IS PRESENTED WITH THE APPROVED FORM 990'S AT THE FOLLOWING BOARD MEETING AFTER FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, DIRECTORS AND EMPLOYEES ARE COVERED BY THE ORGANIZATION'S CONFLICT OF INTEREST POLICY & ARE REQUIRED TO PROMPTLY NOTIFY THE ORGANIZATION OF ANY CONFLICT OF INTEREST. THEY ARE ALSO REQUIRED ANNUALLY TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. THESE QUESTIONNAIRES ARE REVIEWED BY MANAGEMENT. INDIVIDUALS ARE PROHIBITED FROM PARTICIPATING IN DECISION MAKING FOR TRANSACTIONS WHERE THERE APPEARS TO BE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HAS DELEGATED TO THE COMPENSATION COMMITTEE THE REVIEW AND APPROVAL OF THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER, OTHER OFFICERS AND EMPLOYEES. THIS COMMITTEE IS COMPRISED OF PREDOMINANTLY INDEPENDENT DIRECTORS WHO ANNUALLY REVIEW COMPENSATION DATA OF SIMILARLY QUALIFIED INDIVIDUALS IN FUNCTIONALLY COMPARABLE POSITIONS IN SIMILAR ORGANIZATIONS. DECISIONS OF THE COMMITTEE ARE CONTEMPORANEOUSLY DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 18 ALL DOCUMENTS ARE AVAILABLE UPON REQUEST FROM THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE UPON REQUEST FROM THE PRESIDENT. FORM 990, PART XI, LINE 9: EQUITY GAIN IN SUBSIDIARY 168,235. PLSG ACCELERATOR FUND MANAGEMENT LLC 2403 SIDNEY STREET SUITE 200 PITTSBURGH PA 15203 270382359 MANAGING MEMBER OF PLSG ACCELERATOR FUND, LLC DE 1478 825107 PITTSBURGH LIFE SCIENCES GREENHOUSE MPC CORPORATION 5000 FORBES AVENUE PITTSBURGH PA 15213 251128244 RESEARCH & DEVELOPMENT FOR ECONOMIC & EDUCATIONAL DEVELOPMENT PA 501(C)(3) N/A 0 PLSG ACCELERATOR FUND LLC 2403 SIDNEY STREET SUITE 200 PITTSBURGH PA 15203 270382471 INVESTMENT IN WESTERN PA EARLY STAGE LIFE SCIENCE COMPANIES DE PLSG ACCELERATOR FUND MANAGEMENT LLC RELATED -11527 179544 0 0 0.33950 ACCELERATOR FUND II LLC 2403 SIDNEY STREET SUITE 200 PITTSBURGH PA 15203 611755451 INVESTMENT IN WESTERN PA EARLY STAGE LIFE SCIENCE COMPANIES DE PLSG ACCELERATOR FUND MANAGEMENT LLC RELATED -2141 92314 0 0 0.24760 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1