2025-01-17T16:21:35-05:00 2024-06-30 201702555 TOMKIEWICZ WRIGHT LLC 6111 PEACHTREE DUNWOODY RD BLG E ST ATLANTA GA 303284522 990 2023-07-01 800079841 TRANSLATIONAL TESTING AND TRAINING LABORATORIES INC TRAN 4043855191 225 NORTH AVENUE ATLANTA GA 303320230 ROBERT FOY TREASURER 4043855191 2025-01-17 true true JOHN NELSON P00576033 7703510411 2025-01-17 2023 2024-10-15 13:58:12Z X T3 LABS SAYLAN LUKAS 7061113 false X WWW.GCMIATL.ORG X 2003 GA TO PROVIDE HIGH-VALUE PRECLINICAL TESTING AND TRAINING SERVICES TO MEDICAL DEVICE, BIOLOGICS, AND PHARMACEUTICAL DEVELOPERS AND MANUFACTURERS. 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ACCORDINGLY, NO INCOME TAXES ARE REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. ASC 740, INCOME TAXES, IS APPLICABLE TO NOT-FOR-PROFIT ENTITIES IN THAT CERTAIN MATTERS, SUCH AS GCMI'S AND T3 LABS' TAX-EXEMPT STATUS, ARE CONSIDERED TAX POSITIONS TAKEN IN THEIR ANNUAL INFORMATIONAL TAX RETURNS AND THUS MUST BE ASSESSED FOR POTENTIAL UNRECOGNIZED TAX BENEFITS. UNDER ASC 740, THE ORGANIZATION ASSESSES THE LIKELIHOOD, BASED ON THEIR TECHNICAL MERIT, THAT SUCH TAX POSITIONS TAKEN IN ITS INFORMATIONAL TAX RETURNS WILL BE SUSTAINED UPON EXAMINATION OF THE FACTS, CIRCUMSTANCES, AND INFORMATION AVAILABLE AT THE END OF EACH FINANCIAL STATEMENT PERIOD. UNRECOGNIZED TAX BENEFITS ARE MEASURED AND RECORDED AS A LIABILITY WHERE THE ORGANIZATION HAS DETERMINED IT TO BE PROBABLE A TAX POSITION WOULD NOT BE SUSTAINED AND THE AMOUNT OF THE UNRECOGNIZED TAX BENEFIT, INCLUDING ASSOCIATED PENALTIES AND INTEREST, CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION, OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE, COULD DIFFER FROM THE AMOUNT RECOGNIZED. MANAGEMENT HAS DETERMINED THAT THERE IS NO TAX LIABILITY RESULTING FROM UNRECOGNIZED TAX BENEFITS RELATING TO UNCERTAIN INCOME TAX POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, IN ITS INFORMATIONAL TAX RETURNS AS OF JUNE 30, 2024. NO INFORMATIONAL TAX RETURNS ARE CURRENTLY UNDER EXAMINATION. false false false false false false false false false CHAOUKI ABDALLAH DIRECTOR 434895 6300 62739 31776 535710 ANDRES J GARCIA DIRECTOR 378044 200 30492 28988 437724 SHERRY FARRUGIA CEO 300687 61139 17462 379288 JEFFREY WHITE COO/CFO 285762 25670 24187 29178 364797 ALYSSA PANITCH DIRECTOR 244494 75 23285 20183 288037 ROBERT FOY TREASURER 197365 18028 40821 22305 278519 SAYLAN LUKAS INTERIM CEO 171910 7508 16722 27337 223477 ROGER MASON ASST. TREASURER 148932 598 30865 12660 193055 CYNTHIA MARTIN ASST. TREASURER 141951 29409 17214 188574 TANESHA STEWARD SECRETARY 140707 29334 18257 188298 FULL ASSET SALE 2023-11-30 12011231 BOOK 863497638 VERANEX INC WADE PARK BLVD SUITE 204 RALEIGH NC 27607 FOR PROFIT false false false false SCHEDULE N FULL ASSET SALE: IN NOVEMBER 2023, THE ORGANIZATION EXECUTED AN ASSET PURCHASE AGREEMENT WITH A PRIVATE, FOR-PROFIT CORPORATION ( THE "BUYER"). THE ORGANIZATION HAS RECEIVED 719,173 IN RESPECT OF THE TRANSACTION, AND MANAGEMENT DOES NOT EXPECT ADDITIONAL PROCEEDS TO BE RECEIVED FROM THE BUYER. UNDER THE AGREEMENT, THE BUYER ACQUIRED SUBSTANTIALLY ALL OPERATING ASSETS OF T3 LABS. THE BUYER ASSUMED CERTAIN ACCOUNTS PAYABLE AND OBLIGATIONS PERTAINING TO DEFERRED REVENUE BALANCES, AS WELL AS THE OPERATING LEASE ASSOCIATED WITH T3 LABS' OPERATING FACILITIES AND RELATED OBLIGATIONS, AS WELL AS AN EXISTING FINANCE LEASE AND RELATED EQUIPMENT. T3 LABS RECOGNIZED A LOSS OF 5,906,823 IN CONNECTION WITH THIS TRANSACTION. FORM 990, PAGE 1, ITEM C T3 LABS FORM 990 PRIOR TO SEPTEMBER 1, 2016, THE ORGANIZATION WAS CONTROLLED BY ITS SOLE MEMBER, EMORY/SAINT JOSEPH'S INC. AND WAS INCLUDED IN A GROUP EXEMPTION RULING MAINTAINED BY EMORY UNIVERSITY, A GEORGIA NON-PROFIT CORPORATION. AT SEPTEMBER 1, 2016, EMORY/SAINT JOSEPH'S INC. HAD CONVEYED ITS 100% MEMBERSHIP INTEREST IN THE ORGANIZATION TO THE GLOBAL CENTER FOR MEDICAL INNOVATION, INC. ("GCMI"), A GEORGIA NON-PROFIT CORPORATION, EIN 26-4723391, FROM WHICH TIME THE ORGANIZATION SHALL FILE A SEPARATE FORM 990. THE ORGANIZATION FILED FORM 1023, APPLICATION FOR RECOGNITION OF EXEMPTION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, ON DECEMBER 29, 2017, AND RECEIVED A DETERMINATION LETTER DATED SEPTEMBER 27, 2018, AFFIRMING ITS TAX-EXEMPT STATUS. FULL ASSET SALE: IN NOVEMBER 2023, THE ORGANIZATION EXECUTED AN ASSET PURCHASE AGREEMENT WITH A PRIVATE, FOR-PROFIT CORPORATION ( THE "BUYER"). THE ORGANIZATION HAS RECEIVED 719,173 IN RESPECT OF THE TRANSACTION, AND MANAGEMENT DOES NOT EXPECT ADDITIONAL PROCEEDS TO BE RECEIVED FROM THE BUYER. UNDER THE AGREEMENT, THE BUYER ACQUIRED SUBSTANTIALLY ALL OPERATING ASSETS OF T3 LABS. THE BUYER ASSUMED CERTAIN ACCOUNTS PAYABLE AND OBLIGATIONS PERTAINING TO DEFERRED REVENUE BALANCES, AS WELL AS THE OPERATING LEASE ASSOCIATED WITH T3 LABS' OPERATING FACILITIES AND RELATED OBLIGATIONS, AS WELL AS AN EXISTING FINANCE LEASE AND RELATED EQUIPMENT. T3 LABS RECOGNIZED A LOSS OF 5,906,823 IN CONNECTION WITH THIS TRANSACTION. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION'S SOLE MEMBER IS THE GLOBAL CENTER FOR MEDICAL INNOVATION, INC., EIN 26-4723991. FORM 990, PAGE 6, PART VI, LINE 7A BOARD MEMBERS ARE APPOINTED BY THE BOARD OF DIRECTORS OF GCMI, THE ORGANIZATION'S SOLE MEMBER. THE BOARD OF DIRECTORS OF THE ORGANIZATION MAY BE COMPRISED OF THE SAME INDIVIDUALS WHO SERVE ON GCMI'S BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 11B FOLLOWING REVIEW BY MANAGEMENT AND CERTAIN OFFICERS, THE SECRETARY EMAILS A DRAFT OF THE FORM 990 TO THE FULL BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. IF THE REVIEW RESULTS IN ANY CHANGES, THE REVISED FORM 990 IS DISTRIBUTED TO THE BOARD PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C CONFLICT OF INTEREST POLICY APPLIES TO EACH MEMBER OF THE BOARD OF DIRECTORS AND TO ALL OFFICERS OF THE ORGANIZATION. THE POLICY ALSO SERVES AS GUIDANCE FOR ALL PERSONS EMPLOYED BY THE GEORGIA INSTITUTE OF TECHNOLOGY WHO HAVE SIGNIFICANT RESPONSIBILITIES FOR THE ACTIVITIES OF THE ORGANIZATION. THE POLICY REQUIRES EACH DIRECTOR AND OFFICER ANNUALLY TO (1)REVIEW THE POLICY (2)DISCLOSE ANY POSSIBLE PERSONAL, FAMILIAL OR BUSINESS RELATIONSHIPS THAT REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST INVOLVING THE ORGANIZATION AND (3)ACKNOWLEDGE BY HIS OR HER SIGNATURE THAT THEY ARE IN ACCORDANCE WITH THE LETTER AND SPIRIT OF THE POLICY. DISCLOSURE FORMS ARE DISTRIBUTED AND COLLECTED BY THE EXECUTIVE DIRECTOR OF THE ORGANIZATION WHO PROVIDES ANY POSITIVE RESPONSES TO THE BOARD OF DIRECTORS IN EXECUTIVE SESSION AS APPROPRIATE. DIRECTORS AND OFFICERS ARE REQUESTED TO DISCLOSE SUBSTANTIVE RELATIONSHIPS THEY OR MEMBERS OF THEIR FAMILY MAINTAIN WITH ORGANIZATIONS THAT DO BUSINESS WITH THE ORGANIZATION OR WHICH OTHERWISE COULD BE CONSTRUED TO POTENTIALLY AFFECT THEIR INDEPENDENT, UNBIASED JUDGMENT IN LIGHT OF THEIR DECISION- MAKING AUTHORITY OR RESPONSIBILITY. DIRECTORS OR OFFICERS WHO HAVE DECLARED OR HAVE BEEN FOUND TO HAVE A CONFLICT OF INTEREST REFRAIN FROM CONSIDERATION OF PROPOSED TRANSACTIONS UNLESS FOR SPECIAL REASONS THE BOARD REQUESTS INFORMATION OR INTERPRETATION. PERSONS WITH THE CONFLICTS DO NOT VOTE, PARTICIPATE IN THE DISCUSSION OR ATTEND THE MEETING DURING VOTE. ANY PROPOSED TRANSACTION IN WHICH A CONFLICT OF INTEREST HAS BEEN DECLARED OR FOUND TO EXIST MUST BE APPROVED BY A MAJORITY OF THE DISINTERESTED MEMBERS OF THE BOARD OR THE APPROPRIATE COMMITTEE OF THE BOARD AFTER DISCLOSURE OF THE CONFLICT OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 19 PROVIDED UPON REQUEST. FORM 990, PART IX, LINE 11G OPERATIONAL CONSULTANTS 43,594 34,135 0 CONTRACT LABOR 1,047,865 4,537 0 TOTAL 1,091,459 38,672 0 GEORGIA ADVANCED TECHNOLOGY VENTURE 225 NORTH AVENUE NW ATLANTA GA 30332 582538285 TECH TRANS GA 501C3 12A N/A false GEORGIA INSTITUTE OF TECHNOLOGY 225 NORTH AVENUE NW ATLANTA GA 30332 586002023 STATE UNIV GA 115 N/A false GEORGIA TECH APPLIED RESEARCH CORPO 926 DALNEY ST NW ATLANTA GA 30332 582374837 RESEARCH GA 501C3 12C GEORGIA TE CH RESEARCH CORPORATION false GEORGIA TECH ATHLETIC ASSOCIATION 150 BOBBY DODD WAY NW ATLANTA GA 30332 580622514 ATHLETICS GA 501C3 7 N/A false GEORGIA TECH FACILITIES INC 225 NORTH AVENUE NW ATLANTA GA 30332 521442293 CONSTRUCTI GA 501C3 12A N/A false GEORGIA TECH GLOBAL INC 221 UNCLE HEINIE WAY LYMAN HALL 305 ATLANTA GA 30332 271010747 GLOBAL SUP GA 501C3 12A N/A false GEORGIA TECH RESEARCH CORPORATION 926 DALNEY ST NW ATLANTA GA 30332 580603146 RESEARCH GA 501C3 12C N/A false HOME PARK LEARNING CENTER 225 NORTH AVENUE NW ATLANTA GA 30332 582644893 CHILD CARE GA 501C3 12A N/A false SOUTHERN LIGHT RAIL INC 225 NORTH AVENUE NW ATLANTA GA 30332 300240711 NLR ACCESS GA 501C3 7 GEORGIA IN STITUTE OF TECHNOLOGY false THE GLOBAL CENTER FOR MEDICAL INNOVATION INC 575 14TH STREET NW ATLANTA GA 30332 264723391 RESEARCH GA 501C3 7 GEORGIA IN STITUTE OF TECHNOLOGY false GEORGIA TECH PANAMA FOUNDATION MOSSFON BLDG 2ND FL EAST 54TH ST PANAMA CITY PM GLOBAL SUP PM 501C3 GT GLOBAL true SHENZHEN GA INST OF TECH FDN FOR ED U 88 HAIDETONG NANSHAN DISTRICT SHENZHEN CHINA CH GLOBAL SUP CH 501C3 GEORGIA TE CH false false false true false false false false false false false true true false false false true false false false