2025-06-30T08:56:48-05:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 20 STANWIX STREET PITTSBURGH PA 15222 990 2024-01-01 300044478 PITTSBURGH LIFE SCIENCES GREENHOUSE PITT 4122017370 2403 SIDNEY STREET 200 PITTSBURGH PA 15203 DIANA CUGLIARI PRESIDENT & CEO 4122017370 2025-06-16 1 1 JEFFREY J SPENGLER CPA P00109764 4126976400 2025-06-16 2024 2025-03-06 01:10:19Z DIANA CUGLIARI 2403 SIDNEY STREET 200 PITTSBURGH PA 15203 90626 0 X WWW.PLSG.COM X 2001 PA FOSTERS DEVELOPMENT OF THE WESTERN PENNSYLVANIA LIFE SCIENCES INDUSTRY. 5 4 1 4 0 0 0 0 0 0 -897085 -195232 59 37695 -897026 -157537 0 0 0 0 456274 245992 0 0 0 565994 394050 1022268 640042 -1919294 -797579 1990231 789152 5646255 1420947 -3656024 -631795 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 1 35100 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 27 COMPANIES WAS OVER $480,000 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. 216762 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. 901 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. 252763 1 0 0 0 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 9 0 1 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 5.00 X X 205585 0 26918 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 205585 0 26918 1 0 1 0 0 52931 52931 248163 -248163 -248163 -248163 MISCELLANEOUS INCOME 900099 37695 37695 37695 -157537 0 0 -157537 233256 38610 194646 12736 2288 10448 51529 6183 45346 54237 6508 47729 13685 1640 12045 35635 24228 11407 15831 11602 4229 16471 16471 358 358 131751 131751 33871 19128 14743 BOOKS, SUBSCRIPTIONS AN 40367 10510 29857 TAXES 315 315 0 640042 252763 387279 0 149834 207985 240993 305096 50000 0 2908 33289 10822 10822 0 0 1546496 242782 1990231 789152 1768316 57207 3877939 1363740 5646255 1420947 X -3656024 -631795 -3656024 -631795 1990231 789152 X -797579 -2243427 -36660 6101895 X 0 1 X 1 0 X 1073434 838314 1335758 3247506 1073434 838314 1335758 3247506 3247506 141629 247378 680529 242591 52931 1365058 82 195 72 59 37695 38103 4650667 479768 0.69830 0.72210 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 82. 2021 AMOUNT: $ 195. 2022 AMOUNT: $ 72. 2023 AMOUNT: $ 59. 2024 AMOUNT: $ 37,695. 0 0 10822 10822 0 0 NOTES AND EQUITY INVESTMENTS 188125 C INVESTMENT IN SUBSIDIARY 54657 C 242782 X PART X, LINE 2: PLSG QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FUNDS ARE TREATED AS PARTNERSHIPS FOR FEDERAL AND STATE INCOME TAX PURPOSES. MEMBERS REPORT INDIVIDUALLY ON THEIR SHARE OF THE FUND'S PRO RATA DISTRIBUTIVE SHARE ITEMS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION 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, 2024. 1 X X X X X 0 0 0 0 0 0 0 1 0 DIANA CUGLIARI PRESIDENT & CEO 205585 0 0 0 0 0 24942 0 1976 0 232503 0 0 0 FORM 990, PART III, LINE 3 ON NOVEMBER 18, 2024, THE BOARD OF DIRECTORS FORMALLY APPROVED A RESOLUTION TO CEASE OPERATIONS AND LIQUIDATE THE ORGANIZATION AS SOON AS ADMINISTRATIVELY POSSIBLE. AS A RESULT, MANAGEMENT DETERMINED THAT LIQUIDATION IS IMMINENT, AND THE ORGANIZATION HAS THEREFORE CHANGED ITS BASIS OF ACCOUNTING FOR PERIODS SUBSEQUENT TO NOVEMBER 18, 2024 FROM THE ONGOING ACCRUAL BASIS OF ACCOUNTING TO THE LIQUIDATION BASIS OF ACCOUNTING. THE PLAN OF DISSOLUTION INCLUDED SEVERAL TASKS RELATED TO TRANSFER OF ASSETS AND LIABILITIES, INCLUDING PERSONNEL TRANSITION. FOLLOWING LIQUIDATION, ALL REMAINING ASSET AMOUNTS RELATED TO FUTURE YEARS' PROGRAMS WILL BE TRANSFERRED TO THE RICHARD KING MELLON FOUNDATION, A PENNSYLVANIA NONPROFIT CORPORATION AND THE MCCUNE FOUNDATION, A TRUST UNDER PENNSYLVANIA LAW, AS PART OF THE DISSOLUTION. THESE EVENTS ARE EXPECTED TO TAKE PLACE BY JUNE 30, 2025. 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 ADJUSTMENT IN SUBSIDIARY 2,319,340. WRITE DOWN COMMONWEALTH FINANCING AUTHORITY 3,782,555. PLSG ACCELERATOR FUND MANAGEMENT LLC 2403 SIDNEY STREET SUITE 200 PITTSBURGH PA 15203 270382359 MANAGING MEMBER OF PLSG ACCELERATOR FUND, LLC DE 9176 0 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 -144727 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 -56521 0 0 0.24760 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1