2025-11-17T08:48:55-06:00 2024-12-31 222027092 WITHUM SMITH & BROWN PC 424 MAIN STREET SUITE 800 BUFFALO NY 142023508 990 2024-01-01 823993697 EMPIRE DISCOVERY INSTITUTE INC EMPI 5852763150 601 ELMWOOD AVENUE BOX EDI ROCHESTER NY 14642 RONALD C NEWBOLD CEO 5852763150 2025-11-16 1 1 MARY MADONIA P00405803 7168472651 2025-11-16 2024 2025-03-06 01:10:19Z RONALD C NEWBOLD 601 ELMWOOD AVENUE BOX EDI ROCHESTER NY 14642 13220638 0 X WWW.DISCOVEREDI.ORG X 2017 NY THE PURPOSE OF THE INSTITUTE IS TO ENGAGE IN CHARITABLE AND SCIENTIFIC ACTIVITIES FOR THE BENEFIT OF THE ACADEMIC, MEDICAL AND RESEARCH INSTITUTIONS AND PUBLIC BENEFIT CORPORATIONS AFFILIATED WITH AND CONTROLLING THE INSTITUTE. TO FOSTER AN EDUCATIONAL ECOSYSTEM IN UPSTATE NEW YORK FOR TRAINING THE NEXT GENERATION OF SCIENTISTS AND BUSINESS LEADERS, AND SUPPORT UPSTATE NEW YORK'S REGIONAL ECONOMY AND TO ACCRUE LIFE SCIENCES ECONOMIC DEVELOPMENT BENEFITS TO UPSTATE NEW YORK THROUGH THE CREATION OF A RESEARCH AND BUSINESS INITIATIVE FOCUSED ON ACCELERATING TRANSLATIONAL RESEARCH GENERATING INNOVATIVE PROOF-OF-CONCEPT STUDIES AND ADVANCING THE SCIENTIFIC AND EDUCATIONAL ACTIVITIES OF THE INSTITUTIONS' FACULTY, FELLOWS AND STUDENTS IN ASPECTS OF CHEMISTRY, PHARMACOLOGY AND DRUG DISCOVERY AND FACILITATING THE CREATION OF STARTUP COMPANIES AND OTHER SPINOFF INITIATIVES, AND ENGAGING EXCLUSIVELY IN SUCH OTHER CHARITABLE AND SCIENTIFIC ACTIVITIES. 9 9 0 12 0 0 0 11306622 48900 1690265 186054 223751 0 0 234954 13220638 0 0 0 0 921647 919764 0 0 0 4506008 4189534 5427655 5109298 -5192701 8111340 4196828 12767624 1075557 1109288 3121271 11658336 X THE PURPOSE OF THE INSTITUTE IS TO ENGAGE IN CHARITABLE AND SCIENTIFIC ACTIVITIES FOR THE BENEFIT OF THE ACADEMIC, MEDICAL AND RESEARCH INSTITUTIONS AND PUBLIC BENEFIT CORPORATIONS AFFILIATED WITH AND CONTROLLING THE INSTITUTE. TO FOSTER AN EDUCATIONAL ECOSYSTEM IN UPSTATE NEW YORK FOR TRAINING THE NEXT GENERATION OF SCIENTISTS AND BUSINESS LEADERS, AND SUPPORT UPSTATE NEW YORK'S REGIONAL ECONOMY AND TO ACCRUE LIFE SCIENCES ECONOMIC DEVELOPMENT BENEFITS TO UPSTATE NEW YORK THROUGH THE CREATION OF A RESEARCH AND BUSINESS INITIATIVE FOCUSED ON ACC. 0 0 3775048 1690265 IDENTIFY MEDICALLY IMPORTANT PATHWAYS AND TARGETS RELATED TO HUMAN DISEASE THAT WILL SERVE AS THE BASIS FOR THE DISCOVERY AND DEVELOPMENT OF NOVEL, HIGHLY DIFFERENTIATED THERAPEUTICS TO ADDRESS CRITICAL, UNMET NEEDS FOR PATIENTS. 3775048 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 1 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 22 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 1 1 NY X X THE ORGANIZATION 5852763150 601 ELMWOOD AVENUE BOX EDI ROCHESTER NY 14642 X DR RENIER BRENTJENS BOARD MEMBER/CHAIR OF DEPT OF MEDICINE 0.25 X 0 0 0 DR VENU GOVINDARAJU BOARD MEMBER 0.25 X 0 0 0 DR CANDACE JOHNSON BOARD MEMBER 0.25 X 0 0 0 DR THOMAS SCHWAAB BOARD MEMBER (TO 3/1/24) 0.25 X 0 0 0 PETER ROBINSON BOARD MEMBER, CHAIR 0.25 X X 0 0 0 STEPHEN MCCLUSKI BOARD MEMBER 0.25 X 0 0 0 ROBERT FRAASS BOARD MEMBER 0.25 X 0 0 0 MARK KERCHER BOARD MEMBER 0.25 X 0 0 0 GARY POLLACK BOARD MEMBER 0.25 X 0 0 0 STEPHEN DEWHURST BOARD MEMBER 0.25 X 0 0 0 THOMAS QUINN NON-VOTING BOARD TREASURER 0.25 X 0 0 0 ADAM TULGAN COO (TO 10/31/25) 40.00 X 203589 0 23000 RONALD C NEWBOLD CEO 40.00 X 383940 0 23000 JEFFREY DUNBAR NON-VOTING BOARD SECRETARY 0.25 X 0 0 0 PATRICK EMMERLING NON VOTING ASST BOARD SECRETARY 0.25 X 0 0 0 MOLLY MESKO DIR OF PORTFOLIO DEVEL & ADMINISTRATION 40.00 X 151784 0 3900 739313 0 49900 3 0 1 0 CURIA GLOBAL INC 26 CORPORATE CIRCLE PO BOX 15098 ALBANY NY 12212 SCIENTIFIC RESEARCH 784039 HARTER SECREST AND EMERY LLC 1600 BAUSCH AND LOMB PLACE ROCHESTER NY 14604 LEGAL SERVICES 227650 LARK PHARMA CONSULTING 1344 ARGYLE RD BERWYN PA 19312 SCIENTIFIC RESEARCH 135945 CHARLES RIVER DISCOVERY RESEARCH SERVICE 47-48 MARTINGALE WAY PORTISHEAD BRISTOL UK BS207AW CONTRACT RESEARCH ORGANIZATION/ SCIENTIF 126204 BIOEXCEL LLC 23752 GLENHILL DR BEACHWOOD OH 44122 SCIENTIFIC RESEARCH 118125 6 11306622 11306622 SERVICES REVENUE 541700 1690265 1690265 1690265 223751 223751 13220638 1690265 0 223751 X 753265 753265 166499 166499 42476 42476 208044 208044 59959 59959 3768259 3768259 12897 12897 9302 9302 14347 6789 7558 PAYROLL FEES 64384 64384 BANK FEES 9866 9866 5109298 3775048 1334250 0 3371923 11955458 0 1101 52805 38965 772100 772100 4196828 12767624 224174 254717 851383 854571 1075557 1109288 X 964811 2878827 2156460 8779509 3121271 11658336 4196828 12767624 8111340 425725 0 X X 0 1 X 1 0 X 4500000 41665 7600000 11306622 23448287 4500000 41665 7600000 11306622 23448287 23448287 186054 223751 409805 23858092 2427357 0.98280 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 INVESTMENT IN EMPRIME THERAPEUTICS, INC. 772100 772100 DUE TO AFFILIATES 82471 SUBSCRIPTION PAYABLE 772100 854571 X PART X, LINE 2: THE INSTITUTE IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS A PUBLIC CHARITY. THE INSTITUTION HAS CONSIDERED THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS. THE INSTITUTION BELIEVES THAT ITS INCOME TAX FILING POSITIONS WOULD BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE INSTITUTION'S FINANCIAL CONDITION. EUROPE 0 0 PROGRAM SERVICE MEDICAL EXPERIMENTATION 260659 0 0 0 0 0 0 260659 0 260659 0 0 0 0 0 0 X 0 0 0 0 0 0 0 0 0 RONALD C NEWBOLD CEO 383940 0 0 0 0 0 11500 0 11500 0 406940 0 0 0 ADAM TULGAN COO (TO 10/31/25) 203589 0 0 0 0 0 11500 0 11500 0 226589 0 0 0 MOLLY MESKO DIR OF PORTFOLIO DEVEL & ADMINISTRAT 151784 0 0 0 0 0 1950 0 1950 0 155684 0 0 0 SCHEDULE J, PART II ALL EMPLOYEES LISTED ARE PAID THROUGH AND ISSUED W-2S BY THE UNIVERSITY OF ROCHESTER, AN INSTITUTIONAL PARTNER. THE FILING ORGANIZATION REIMBURSES THE UNIVERSITY OF ROCHESTER FOR THE COMPENSATION THROUGH AN ADMINISTRATIVE FEE. FORM 990, PART VI, SECTION A, LINE 7A AS INSTITUTIONAL PARTNERS, THE UNIVERSITY AT BUFFALO, THE UNIVERSITY OF ROCHESTER, AND ROSWELL PARK COMPREHENSIVE CANCER INSTITUTE MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM. A DRAFT OF THE FORM 990 IS PROVIDED TO THE INSTITUTE BEFORE FILING. THE CEO AND COO REVIEW AND APPROVE THE FORM 990 BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY REQUIRES ALL INTERESTED PERSONS TO SIGN A STATEMENT CONFIRMING THEY RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, READ AND UNDERSTAND THE POLICY AND AGREE TO COMPLY. ALL INTERESTED PERSONS ARE REQUIRED TO SIGN THIS STATEMENT ANNUALLY. ADDITIONALLY, PERIODIC REVEIWS OF COMPLIANCE WITH THE POLICY ARE CONDUCTED. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 1023 AND FORM 990 ARE AVAILABLE UPON REQUEST. THE FORM 990 IS ALSO AVAILABLE ON GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WILL MAKE THE DOCUMENTS AVAILABLE FOR INSPECTION AT AN OFFICE OF THE ORGANIZATION UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 16B THE INSTITUTE'S CONSOLIDATED FINANCIAL STATEMENTS INCLUDE EMPRIME THERAPEUTICS, INC. (EMPRIME), WHICH IS A C-CORPORATION FORMED DURING THE YEAR ENDED DECEMBER 31, 2022. EMPRIME HAS 1,000,000 SHARES AUTHORIZED, IN WHICH 900,000 OF THOSE SHARES ARE ISSUED AND OUTSTANDING. THE INSTITUTE WAS ISSUED 479,700 SHARES AS OF DECEMBER 31, 2022 (53.3%) AND HAD RECORDED A SUBSCRIPTION PAYABLE IN THE AMOUNT OF $772,100 AT DECEMBER 31, 2022 WHICH WAS ELIMINATED IN CONSOLIDATION. DURING 2023, A SPONSORED RESEARCH AGREEMENT BETWEEN EMPRIME THERAPEUTICS, LLC (A RELATED ENTITY) AND THE UNIVERSITY OF ROCHESTER WAS EXECUTED ON APRIL 4, 2023 IN THE AMOUNT OF $773,000. THE FILING ORGANIZATION MADE PAYMENTS ON BEHALF OF EMPRIME TO THE UNIVERSITY OF ROCHESTER IN THE AMOUNTS OF $386,500 IN MAY AND $77,300 IN OCTOBER OF 2024. THESE PAYMENT WERE TREATED AS A CAPITAL CONTRIBUTIONS TO EMPRIME, REDUCING THE SUBSCRIPTION PAYABLE TO $308,300. FORM 990, PART VII, SECTION A RONALD NEWBOLD (CEO), ADAM TULGAN (FORMER COO), AND MOLLY MESKO (DIRECTOR OF PORTFOLIO DEVELOPMENT AND ALLIANCE MANAGEMENT) ARE PAID THROUGH AND ISSUED W-2S BY THE UNIVERSITY OF ROCHESTER, AN INSTITUTIONAL PARTNER. THE FILING ORGANIZATION REIMBURSES THE UNIVERSITY OF ROCHESTER FOR THE COMPENSATION THROUGH AN ADMINISTRATIVE FEE. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 2,719,641. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,719,641. PROJECT CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 41,724. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 41,724. CONSULTANTS: PROGRAM SERVICE EXPENSES 1,006,894. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,006,894. FORM 990, PART XII, LINE 2C AN INDEPENDENT ACCOUNTANT IS CHOSEN BY THE ORGANIZATION AND THEY ALSO OVERSEE THE AUDIT PROCESS. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. EDI THERAPEUTICS LLC 601 ELMWOOD AVENUE BOX EDI ROCHESTER NY 14642 920841049 FUND AND SUPPORT SPIN-OUT COMPANIES DEVELOPED BY EMPIRE DISCOVERY INSTITUTE DE 0 0 EMPIRE DISCOVERY INSTITUTE INC EMPRIME THERAPEUTICS INC 601 ELMWOOD AVENUE BOX EDI ROCHESTER NY 14642 993966109 MEDICAL RESEARCH DE EMPIRE DISCOVERY INSTITUTE INC C 0.53300 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FORM 990, SCH R, PAGE 2, PART IV THE INSTITUTE'S CONSOLIDATED FINANCIAL STATEMENTS INCLUDE EMPRIME THERAPEUTICS, INC. (EMPRIME), WHICH IS A C-CORPORATION FORMED DURING THE YEAR ENDED DECEMBER 31, 2022. EMPRIME HAS 1,000,000 SHARES AUTHORIZED, IN WHICH 900,000 OF THOSE SHARES ARE ISSUED AND OUTSTANDING. THE INSTITUTE WAS ISSUED 479,700 SHARES AS OF DECEMBER 31, 2022 (53.3%) AND HAD RECORDED A SUBSCRIPTION PAYABLE IN THE AMOUNT OF $772,100 AT DECEMBER 31, 2022 WHICH WAS ELIMINATED IN CONSOLIDATION. DURING 2023, A SPONSORED RESEARCH AGREEMENT BETWEEN EMPRIME THERAPEUTICS, LLC (A RELATED ENTITY) AND THE UNIVERSITY OF ROCHESTER WAS EXECUTED ON APRIL 4, 2023 IN THE AMOUNT OF $773,000. THE FILING ORGANIZATION MADE PAYMENTS ON BEHALF OF EMPRIME TO THE UNIVERSITY OF ROCHESTER IN THE AMOUNTS OF $386,500 IN MAY AND $77,300 IN OCTOBER OF 2024. THESE PAYMENT WERE TREATED AS A CAPITAL CONTRIBUTIONS TO EMPRIME, REDUCING THE SUBSCRIPTION PAYABLE TO $308,300.