2025-11-14T10:56:51+00:00 2025-06-30 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2024-07-01 571031624 MUSC Foundation for Research Development MUSC 8438761900 135 CANNON STREET MSC 828 NO 101L CHARLESTON SC 29425 Todd Headley CEO 2025-11-14 true true Amy Bibby P00445891 8282542254 2025-11-13 2024 2025-03-06 01:10:19Z ZUCKER INSTITUTE FOR INNOVATION COMMERCIALIZATION Todd Headley 135 CANNON STREET MSC 828 NO 101L CHARLESTON SC 29425 5644410 false X zuckerinnovation.org X 1995 SC THE FOUNDATION MANAGES AND MARKETS INTELLECTUAL PROPERTY EMANATING FROM MUSC IN ORDER TO EXPEDITE, FOR THE PUBLIC'S BENEFIT, THE TRANSLATION OF IDEAS INTO PROCEDURES, DEVICES, AND PRODUCTS. 8 8 9 7 0 0 0 4604458 5094150 94931 145121 403741 405139 5103130 5644410 0 0 0 0 1869424 2253207 0 0 0 2620554 2987032 4489978 5240239 613152 404171 4740841 4727479 2070381 1804763 2670460 2922716 1. TO SUPPORT THE EDUCATIONAL, RESEARCH, AND HEALTHCARE MISSION OF THE MEDICAL UNIVERSITY OF SOUTH CAROLINA (MUSC) BY FOSTERING CREATIVITY AND INNOVATION. 2. TO INITIATE AND SUSTAIN COOPERATION AND COLLABORATION BETWEEN MUSC AND BUSINESS AND INDUSTRY. 3. ACT AS MUSC'S INTELLECTUAL PROPERTY MANAGEMENT AND TECHNOLOGY MARKETING ARM. 4. ADVANCE HEALTHCARE-RELATED ECONOMIC DEVELOPMENT FOR SOUTH CAROLINA AND THE NATION. 5. SUPPORT ECONOMIC DEVELOPMENT THROUGH TECHNOLOGY LICENSING. false false 2899233 3299573 THE FOUNDATION MANAGES AND MARKETS INTELLECTUAL PROPERTY EMANATING FROM MUSC IN ORDER TO EXPEDITE, FOR THE PUBLIC'S BENEFIT, THE TRANSLATION OF IDEAS INTO PROCEDURES, DEVICES, AND PRODUCTS. 966411 1099858 THE FOUNDATION ASSISTS MUSC IN ACCOMPLISHING ITS EDUCATIONAL AND PUBLIC SERVICE MISSIONS BY SUPPORTING CONTINUING MEDICAL EDUCATION AND OTHER OPPORTUNITIES FOR MUSC FACULTY, RESIDENTS, AND MEDICAL STUDENTS. OTHER REGIONAL, NATIONAL AND INTERNATIONAL ATTENDEES AND FACULTY CONTRIBUTE TO THE EXCHANGE OF INFORMATION AND IDEAS. 966411 1099858 The Foundation is a 501(c)3 not-for-profit technology transfer office that acts as a point of contact for industry and entrepreneurs wishing to commercialize intellectual property from the Medical University of South Carolina (MUSC). 4832055 true true false false false false false false false false true false false true true true false true false false false false false false false false false false false true false false false false false false false false false false false false false false false true true false false false true 33 0 true 9 true false false false false false false false false false false false false X 8 8 false false false false false true false true true false false false true true true true true true true true false false SC X The Organization 8438761900 135 Cannon Street Suite 101-L MSC Charleston SC 29425 Anand Mehta DPhil Trustee 1.0 39.0 X 0 217010 0 James Chappell Trustee 1.0 X 0 0 0 Jesse Goodwin PHD Trustee 1.0 X 0 0 0 Lisa Drakeman PHD Trustee 1.0 X 0 0 0 Mark Crowell Trustee 1.0 X 0 0 0 Matt Gevaert PhD Trustee 1.0 X 0 0 0 Ramin Eskandari MS MD Trustee 1.0 39.0 X 0 22217 18394 Terri Barnes Trustee 1.0 X 0 0 0 Timothy L Stemmler PHD Trustee 1.0 X 0 0 0 William Himmelsbach Trustee 1.0 X 0 0 0 Todd Headley CEO 40.0 X 315262 0 19556 Joe Fiore VP 40.0 X 197000 0 8723 Joe Ruscito VP of Medical Technologly 40.0 X 207862 0 29108 Rita Charboneau General Counsel 40.0 X 207862 0 45938 Pamela Kaufman Senior Director of IP 40.0 X 101953 0 19122 1029939 239227 140841 5 false true false Riverside Law 175 Strafford Avenue Suite 100 Wayne PA 19087 Legal Fees 442136 Parker Highlander 1120 S Capital of Tx Highway Austin TX 78746 Legal Fees 130062 2 0 state contracts 611710 2600000 2600000 Royalties 900099 1482129 1482129 License Fees 900099 231500 231500 program contributions 900099 242162 242162 other grants/contracts 611710 538359 538359 0 0 0 0 5094150 72813 72813 0 0 72308 72308 0 72308 72308 patent expense recovery income 900099 405014 405014 other technology development income 900099 125 125 0 0 0 0 405139 5644410 5499289 0 145121 927986 835187 92799 1325221 1291610 33611 1056649 971243 85406 0 0 0 0 145167 128331 16836 59113 59113 1391505 1391505 91900 12656 79244 45458 45458 2392 2392 20583 20583 Prototype development 136615 136615 dues, memberships, and subscriptions 19323 4800 14523 professional development 13953 995 12958 special activities 2627 2627 1747 0 1747 0 5240239 4832055 408184 0 2806855 1390534 505944 0 722584 484827 0 0 0 0 633455 633455 66801 58669 331382 324991 5202 6391 0 0 0 2153603 4740841 4727479 1292585 1555189 41022 105679 0 0 736774 143895 2070381 1804763 X 2048797 2154734 621663 767982 2670460 2922716 4740841 4727479 X 404171 81092 -233007 X X false true true false X X 1 MEDICAL UNIVERSITY OF SOUTH CAROLINA 576000722 2 true 5240239 0 1 5240239 0 true false false false false false false false false false false false false false false true true false X true true Schedule A, Part IV, Section E, Line 2a Org. Activities Directly Further The Exempt Purposes MUSC FOUNDATION FOR RESEARCH DEVELOPMENT'S (THE FOUNDATION) PRIMARY MISSION IS TO SUPPORT THE MEDICAL UNIVERSITY OF SC. PLEASE SEE PART 1, LINE 1 OF FORM 990. THE FOUNDATION MANAGES A FUNCTION ON BEHALF OF MUSC. MUSC IS REQUIRED BY STATE LAW TO ENSURE THIS FUNCTION IS PROVIDED. THE FOUNDATION'S PROGRAM EXPENSES ARE SPENT IN SUPPORT OF MUSC. PROGRAM EXPENSES ACCOUNT FOR MORE THAN 90% OF ALL OF THE FOUNDATION'S EXPENSES. THE REMAINING EXPENSES ARE FOR MANAGEMENT AND GENERAL EXPENSES TO SUPPORT THE PROGRAM EXPENSES. Schedule A, Part IV, Section E, Line 2b Activities That One Or More Supp. Org. Engaged In MUSC IS REQUIRED BY STATE LAW TO PERFORM THIS SERVICE. WITHOUT THE FOUNDATION PERFORMING THESE SERVICES, MUSC WOULD HAVE TO PERFORM THEM INTERNALLY. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 331382 324991 6391 6391 Refundable deposit 2153603 2153603 Federal Income Taxes funds held for others 34901 Due to Musc Physicians 108994 143895 X 0 0 0 0 0 0 0 0 0 0 0 0 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Foundation is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and therefore has made no provision for federal or state income taxes in the consolidated financial statements. In addition, the Foundation qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization that is not a private foundation under Section 509(a)(3). Management has evaluated the tax positions of the Institute and does not believe that any uncertain tax positions or unrecognized tax benefits exist as of and for the years ended June 30, 2025 or 2024. X X X X false false false false false false false false false Anand Mehta DPhil Trustee 0 217010 0 0 0 0 0 0 0 0 0 217010 0 0 Todd Headley CEO 297110 0 0 0 18152 0 0 0 19556 0 334818 0 0 0 Rita Charboneau General Counsel 207862 0 0 0 0 0 24620 0 21318 0 253800 0 0 0 Joe Fiore VP 197000 0 0 0 0 0 0 0 8723 0 205723 0 0 0 Joe Ruscito VP of Medical Technologly 207862 0 0 0 0 0 11000 0 18108 0 236970 0 0 0 Form 990, Part VI, Line 15 THE COMPENSATION FOR THE EXECUTIVE DIRECTOR, OFFICERS, AND KEY EMPLOYEES IS A NEGOTIATED CONTRACT THAT IS REVIEWED ANNUALLY. THE CONTRACTED AMOUNT IS BASED ON SALARY SURVEYS AND MARKET ANALYSIS FOR EACH POSITION. THE COMPENSATION FOR THE EXECUTIVE DIRECTOR IS REVIEWED AND APPROVED BY THE BOARD. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body Pursuant to the Organization's bylaws the following roles shall be appointed by MUSC the Organization's Supported Organization. (a)Director shall be an MUSC trustee appointed by the chair or the board of trusts of MUSC (the "Trustee Director"). (b) The Chief Innovation Officer of MUSC shall serve, ex officio, as a Director (the "CInO"). (c) The CInO shall appoint one faculty member of MUSC to serve as a Director (the "Faculty Director"). (d) The Vice President of Research of MUSC (the "VPR") may serve or may, alternatively, appoint another individual to serve as a MUSC Director (the "VPR Designee"). Form 990, Part VI, Line 11b Review of form 990 by governing body THE FOUNDATION UPLOADS A COPY OF THE 990 TO A SECURE PORTAL TO WHICH ALL BOARD MEMBERS HAVE ACCESS TO REVIEW PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy THE FOUNDATION REQUIRES ALL BOARD MEMBERS AND EMPLOYEES TO ANNUALLY REVIEW AND COMPLETE THE CONFLICT OF INTEREST POLICY AND DISCLOSURE. THE POLICY IS REGULARY MONITORED BY THE ORGANIZATION'S SUPPORTED ORGANIZATION: MEDICAL UNIVERSITY OF SOUTH CAROLINA. IN THE EVENT OF A POTENTIAL CONFLICT DURING THE YEAR, THE INTERESTED BOARD MEMBER SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND VOTE ON THE MATTER. Form 990, Part VI, Line 19 Required documents available to the public THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances equity adjustment due to affiliate FRD Accel - -233007; Total - -233007; Form 990, Part XII, Line 2c Change of oversight process or selection process THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. medical university of south carolina 179 ashley avenue charleston SC 29425 576000722 education SC 115 NA false Zucker Institute for Applied Neurosciences Inc 135 Cannon Street STE 101-L MSC 82 Charleston SC 29425 461014824 Research SC 501(c)(3) Type III-FI medical university of south carolina true FRD ACCEL LLC 135 CANNON STREET SUITE 101L CHARLESTON SC 29425 812510689 SUPPORT AND RESEARCH SC Musc foundation for research C Corporation 330268 116701 1 true false false true false false false false false false false true false false false false false true true false