2026-05-13T14:19:00-05:00 2025-06-30 161092347 MENGEL METZGER BARR & CO LLP 370 WOODCLIFF DRIVE SUITE 2A FAIRPORT NY 14450 990 2024-07-01 161195028 NEXTCORPS INC NEXT 5852142400 260 E MAIN STREET 6000 ROCHESTER NY 14604 JAMES S SENALL DIRECTOR & PRESIDENT 5852142400 2026-05-13 1 1 JASON REDMAN P02388231 5854231860 2026-05-13 2024 2025-03-06 01:10:19Z JAMES S SENALL 260 E MAIN STREET 6000 ROCHESTER NY 14604 13201479 0 X WWW.NEXTCORPS.ORG X 1987 NY NEXTCORPS IS A NON-PROFIT HELPING INNOVATIVE TECHNOLOGY COMPANIES LAUNCH AND GROW. 13 12 0 25 0 0 10225978 11315962 3279084 1711119 128484 174398 0 0 13633546 13201479 300000 826667 0 0 3805191 4203822 0 0 0 7129860 5011177 11235051 10041666 2398495 3159813 40617824 44800835 7227911 8253319 33389913 36547516 NEXTCORPS IS A NON-PROFIT HELPING INNOVATIVE TECHNOLOGY COMPANIES LAUNCH AND GROW. 0 0 5260301 816667 515743 THIS GROUP OF PROGRAMS IS ACCELERATING OUR REGION'S TRANSFORMATION INTO A TOP TECH HUB IN AMERICA BY CONNECTING ENTREPRENEURS AND BUSINESSES WITH THE SUPPORT THEY NEED TO GROW, INCLUDING EXPERTS, CAPITAL, CUSTOMERS, AND VETTED PARTNERS AND SUPPLIERS. THIS INCLUDES OPERATING AN INCUBATOR TO HELP FOUNDERS DEVELOP INNOVATIVE TECHNOLOGIES; CLIMATE TECH ACCELERATOR PROGRAMS THAT HELP SPEED THE COMMERCIALIZATION OF CLEAN ENERGY SOLUTIONS; MANUFACTURING ACCELERATOR PROGRAMMING TO HELP SCALE HARDWARE FROM PROTOTYPE TO MASS PRODUCTION IN NEW YORK STATE, AND A NO-CODE SOFTWARE BOOTCAMP THAT TEACHES NON TECHNICAL PEOPLE HOW TO LAUNCH A SOFTWARE BUSINESS, AND RELATED EDUCATIONAL SESSIONS THAT ENGAGED MORE THAN 170 ENTREPRENEURS AND THEIR EMERGING COMPANIES THROUGHOUT THE YEAR. 1875498 1079395 THE MEP CENTER AT NEXTCORPS CONNECTS PRINTER, FOOD AND BEVERAGE, OR PRODUCTION-RELATED COMPANIES LOCATED IN ROCHESTER AND THE FINGER LAKES REGION TO LOCAL AND NATIONAL RESOURCES TO HELP THEM IMPROVE THEIR COMPETITIVENESS AND GROWTH. MORE THAN 90 PROJECTS WERE COMPLETED OVER THE LAST FOUR QUARTERS FOR CLIENTS, RESULTING IN APPROXIMATELY $190 MILLION IN ECONOMIC IMPACT AND 695 JOBS CREATED OR RETAINED (CLIENT REPORTED DATA). ADDITIONALLY, THE CENTER OFFERED ASSISTANCE TO STARTUP COMPANIES THAT ARE IN THE PROCESS OF GETTING THEIR PRODUCTS MANUFACTURED. 1798706 10000 115981 A GLOBAL ACCELERATOR PROGRAM, COMPETITION, AND INVESTMENT MECHANISM THAT IMPROVES THE INVESTMENT READINESS AND COMMERCIALIZATION TRAJECTORY OF STARTUPS THAT ARE DEVELOPING DEEP TECH ENABLED BY OPTICS, PHOTONICS, OR IMAGING. COMPANIES ACCEPTED INTO LUMINATE ARE SOLVING PRESSING PROBLEMS IN ALMOST EVERY INDUSTRY, FROM AUGMENTED/VIRTUAL REALITY, AUTONOMOUS VEHICLES AND LIFE SCIENCES, TO QUANTUM COMPUTING, SECURITY, AGTECH, AND MUCH MORE. BY GRANT DESIGN, THE PROGRAM SURPLUS IS APPLIED AS INVESTMENT IN PROMISING PARTICIPANTS. 8934505 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 X 108 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 12 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X JAMES S SENALL 5852142400 260 E MAIN ST SUITE 6000 ROCHESTER NY 14604 THERESA B MAZZULLO DIRECTOR 0.50 40.00 X 0 312624 55233 CHRISTINE B WHITMAN DIRECTOR - THRU NOV 2024 0.50 X 0 0 0 LORI GREEN DIRECTOR, VICE CHAIR & SEC 0.50 X X 0 0 0 PETER G ROBINSON DIRECTOR & CHAIRMAN 0.50 59.00 X X 0 517831 132020 JAMES S SENALL DIRECTOR & PRESIDENT 40.00 X X 0 0 0 ARUNAS CHESONIS DIRECTOR 0.50 X 0 0 0 DANA MILLER DIRECTOR 0.50 X 0 0 0 JAY POPLI DIRECTOR & TREASURER 0.50 X X 0 0 0 RYNE RAFFAELLE DIRECTOR 0.50 X 0 0 0 JOE WESLEY DIRECTOR - THRU FEB 2025 0.50 X 0 0 0 ANA LISS DIRECTOR 0.50 X 0 0 0 DAN BURNS DIRECTOR 0.50 X 0 0 0 STEVE DEWHURST DIRECTOR 0.50 40.00 X 0 622894 52857 JEFFREY QUAIN DIRECTOR 0.50 X 0 0 0 TIMOTHY THANEY DIRECTOR 0.50 X 0 0 0 JOHN F MAGEE CFO 40.00 X 0 0 0 SUJATHA RAMANUJAN MANAGING DIRECTOR, LUMINAT 40.00 X 0 0 0 0 1453349 240110 0 0 1 0 ALCOTT HR GROUP LLC 1150 WEHRLE DR BUFFALO NY 14221 LEASED EMPLOYEES 3833059 THE RESEARCH FOUNDATION FOR SUNY PO BOX 6000 BINGHAMTON NY 13902 PROGRAM DELIVERY 784608 SECONDMUSE LLC 401 ASH ST LAKE OSWEGO OR 97034 PROGRAM DELIVERY 604099 SIBLEY REDEVELOPMENT LIMITED PARTNERSHIP 260 EAST MAIN ST STE 2000 ROCHESTER NY 14604 COMMON AREA MAINTENANCE 190301 SOLUTIONS BY SLOAN INC 13316 SW RIVER ROCK ROAD PORT ST LUCIE FL 34987 CONSULTANT FOR LUMINATE 143306 8 75523 10222728 1017711 124730 11315962 PROJECT INCOME 611630 1207542 1207542 INCUBATOR RENT 531120 387053 387053 MISCELLANEOUS RENT 532000 88480 88480 SEMINAR INCOME 611430 20941 20941 OTHER INCOME 900099 7103 7103 1711119 174398 174398 13201479 1711119 0 174398 680000 680000 76667 76667 70000 70000 3416741 2736769 679972 124744 98797 25947 380615 299576 81039 281722 228432 53290 6717 6717 34211 31550 2661 42296 34287 8009 478502 463843 14659 32271 30744 1527 14650 3825 10825 185209 170945 14264 147681 145505 2176 166085 158005 8080 432006 423483 8523 46238 45322 916 CONSULTING, CONTRACTUAL 2939254 2902254 37000 PROPERTY MANAGEMENT 248049 248049 IN-KIND EQUIPMENT 124730 124730 EQUIPMENT PURCHASES AND 78794 57384 21410 34484 29068 5416 10041666 8934505 1107161 0 1892239 1945261 7308595 7014589 1276840 2162026 865417 654909 21792 23572 15909688 4212380 9937682 11697308 19315259 21303170 40617824 44800835 1663922 1381025 5534409 6840079 29580 32215 7227911 8253319 X 33389913 36367288 180228 33389913 36547516 40617824 44800835 3159813 -2210 0 X X 0 1 X 1 1 1 X 9004470 9151605 11272631 10225978 11191232 50845916 9004470 9151605 11272631 10225978 11191232 50845916 50845916 12425 4182 100446 128484 174398 419935 51265851 16504652 0.99180 0.99410 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 14418760 2808497 11610263 1490928 1403883 87045 11697308 EQUITY INVESTMENTS 21303170 C 21303170 SECURITY DEPOSITS 32215 32215 X 13109817 -2210 51005 86038 134833 12974984 226495 226495 13201479 10121542 51005 255366 306371 9815171 226495 226495 10041666 PART X, LINE 2: NEXTCORPS IS ORGANIZED AS A NON-PROFIT CORPORATION AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE REGULATIONS. NEXTCORPS HAS FILED FOR AND RECEIVED INCOME TAX EXEMPTIONS IN THE VARIOUS JURISDICTIONS WHERE THEY ARE REQUIRED TO DO SO. NEXTCORPS FILES FORM 990 TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND IN NEW YORK STATE. LVCC IS ORGANIZED AS A C-CORPORATION FOR INCOME TAX PURPOSES AND IS TAXED UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE LAWS. LVCC FILES TAX RETURNS IN VARIOUS JURISDICTIONS AND IS SUBJECT TO POTENTIAL EXAMINATION BY TAXING AUTHORITIES. THE ORGANIZATION'S CURRENT AND PRIOR THREE YEARS TAX RETURNS REMAIN SUBJECT TO REVIEW BY TAXING AUTHORITIES. MANAGEMENT OF THE ORGANIZATION BELIEVES IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT HAS NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INCOME OF SUBSIDIARY 86,038. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRIES FROM CONSOLIDATION 226,495. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF SUBSIDIARY 155,366. IMPAIRMENT ON INVESTMENTS - SUBSIDIARY 100,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRIES FROM CONSOLIDATION 226,495. 0 0 0 0 0 0 0 0 0 EUROPE FOR CLIMATETECH ACCELERATOR COHORT PARTICIPATION AWARD. 10000 ACH 0 FMV EUROPE FOR CLIMATETECH ACCELERATOR COHORT PARTICIPATION AWARD. 40000 ACH 0 FMV NORTH AMERICA FOR CLIMATETECH ACCELERATOR COHORT PARTICIPATION AWARD. 10000 ACH 0 FMV EUROPE FOR CLIMATETECH ACCELERATOR COHORT PARTICIPATION AWARD. 10000 ACH 0 FMV 0 4 0 0 0 0 0 0 PART I, LINE 2: OVERSIGHT IS MAINTAINED THROUGH THE DURATION OF THE COHORT BY ONGOING TRAINING SESSIONS, ADVISOR MEETINGS, AND DIRECT STAFF CONSULTATIONS. 1 KINETO LLC 100 CAVERSHAM WOODS PITTSFORD NY 14534 932422672 25000 0 ASSIST START-UP WITH FUNDING AFTER PROOF-OF-CONCEPT STAGE HAS BEEN ACHIEVED IN ORDER TO REACH COMMERCIAL SUCCESS IN RECOGNIZED INNOVATION ZONES PLANKE APP LLC 651 N BROAD ST STE 201 MIDDLETOWN DE 19709 834628384 25000 0 ASSIST START-UP WITH FUNDING AFTER PROOF-OF-CONCEPT STAGE HAS BEEN ACHIEVED IN ORDER TO REACH COMMERCIAL 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THROUGH REGULAR OVERSIGHT MEETINGS WITH PROGRAM STAFF AND DIRECTORS TO VERIFY THE COMPLETION OF TECHNICAL MILESTONES, CONTINUED PARTICIPATION, OR THE RECEIPT OF PRIVATE MATCHING INVESTMENTS. X 0 1 0 0 0 0 0 0 0 STEVE DEWHURST DIRECTOR 0 596915 0 0 0 25979 0 43820 0 9037 0 675751 0 0 PETER G ROBINSON DIRECTOR & CHAIRMAN 0 460004 0 0 0 57827 0 93877 0 38143 0 649851 0 0 THERESA B MAZZULLO DIRECTOR 0 312624 0 0 0 0 0 31290 0 23943 0 367857 0 0 FORM 990, SCHEDULE J, PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN AND RECEIVED EMPLOYER PAID AMOUNTS FROM A RELATED ENTITY, THE UNIVERSITY OF ROCHESTER, THAT ARE INCLUDED IN DEFERRED COMPENSATION: PETER ROBINSION SERP PLAN $61,500 STEVE DEWHURST SERP PLAN $11,000 X OPTICAL METROLOGY SYSTEM FOR PRECISION MEASUREMENTS 1 35535 FMV 0 0 0 FORM 990 PART IV, LINES 12A AND 12B THE ORGANIZATION HAS CONSOLIDATED FINANCIAL STATEMENTS WHICH INCLUDE ITS WHOLLY-OWNED FOR PROFIT SUBSIDIARY AND IS ALSO PART OF A RELATED ENTITY'S, THE UNIVERSITY OF ROCHESTER, CONSOLIDATED FINANCIAL STATEMENTS. THE INFORMATION ON SCHEDULE D, PARTS XI THROUGH XIII REFLECTS THE RECONCILIATION TO THE ORGANIZATION'S INDEPENDENT CONSOLIDATED FINANCIAL STATEMENTS, NOT THAT OF THE RELATED ENTITY. FORM 990 PART V, LINE 7G, 7H, 8, 9A, 9B EXPLANATION NOT APPLICABLE. PART V, LINE 2A NEXTCORPS, INC. AND SUBSIDIARY LEASES 33 EMPLOYEES FROM A PROFESSIONAL EMPLOYER ORGANIZATION (PEO), ALCOTT HR GROUP, LLC. ALL EMPLOYER RETURNS AND PAYROLL RELATED FILINGS (W-2'S, ETC.) ARE PERFORMED BY THE PEO USING THEIR EIN. FORM 990, PART VI, SECTION A, LINE 2 JAY POPLI IS EXECUTIVE VP OF POPLI DESIGN GROUP. PDG PROVIDED IN-KIND ARCHITECTURAL/ENGINEERING WORK FOR THE BUILDOUT IN THE AMOUNT OF $89,195. THERESA B. MAZZULLO IS CEO OF EXCEL PARTNERS. NEXTCORPS PAID $33,500 TO EXCEL PARTNERS FOR NSF-IGNITE CONSULTING DURING FY25. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF NEXTCORPS, INC. IS THE UNIVERSITY OF ROCHESTER. THE MEMBER APPROVES DIRECTORS WHO HAVE BEEN ELECTED BY THE NEXTCORPS BOARD, AND HAS THE AUTHORITY TO REMOVE BOARD DIRECTORS FOR CAUSE. UNDER NEW YORK LAW, CERTAIN DECISIONS OF THE NEXTCORPS, INC. BOARD ARE SUBJECT TO THE APPROVAL OF THE MEMBER, SUCH AS DECISIONS THAT INCLUDE AMENDMENT OF THE CERTIFICATE OF INCORPORATION AND BYLAWS, AND APPROVAL OF SALE OF ALL OR SUBSTANTIALLY ALL ASSETS, MERGERS, OR DISSOLUTION. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER OF NEXTCORPS, INC. IS THE UNIVERSITY OF ROCHESTER. THE MEMBER HAS THE AUTHORITY TO ELECT THE GOVERNING BODY OF NEXTCORPS, INC., AND UNDER NEW YORK LAW CERTAIN DECISIONS OF THE NEXTCORPS, INC. BOARD ARE SUBJECT TO THE APPROVAL OF THE MEMBER. SUCH DECISIONS INCLUDE AMENDMENT OF THE CERTIFICATE OF INCORPORATION AND BYLAWS, AND APPROVAL OF SALE OF ALL OR SUBSTANTIALLY ALL ASSETS, MERGER, AND DISSOLUTION. FORM 990, PART VI, SECTION A, LINE 7B THE SOLE MEMBER OF NEXTCORPS, INC. IS THE UNIVERSITY OF ROCHESTER. THE MEMBER HAS THE AUTHORITY TO ELECT THE GOVERNING BODY OF NEXTCORPS, INC., AND UNDER NEW YORK LAW CERTAIN DECISIONS OF THE NEXTCORPS, INC. BOARD ARE SUBJECT TO THE APPROVAL OF THE MEMBER. SUCH DECISIONS INCLUDE AMENDMENT OF THE CERTIFICATE OF INCORPORATION AND BYLAWS, AND APPROVAL OF SALE OF ALL OR SUBSTANTIALLY ALL ASSETS, MERGER, AND DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED FIRST BY THE DIRECTOR OF FINANCE & ADMINISTRATION AND THE PRESIDENT. UPON SATISFACTORY COMPLETION OF THOSE REVIEWS, A COPY WILL BE PROVIDED TO EACH DIRECTOR FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURE FORMS ARE REQUESTED ANNUALLY FROM DIRECTORS, OFFICERS, KEY EMPLOYEES. DIRECTORS, OFFICERS, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST INVOLVING ANY PROPOSED CONTRACT OR TRANSACTIONS TO BE EXECUTED BY THE CORPORATION. THE AUDIT COMMITTEE REVIEWS THE PROPOSED CONTRACT OR TRANSACTION IN LIGHT OF THE FACTS AND CIRCUMSTANCES AND APPROVES ONLY THOSE IN WHICH THE TERMS ARE FAIR AND REASONABLE TO THE CORPORATION AND ARE CONSISTENT WITH THE BEST INTERESTS OF THE CORPORATION. THE AUDIT COMMITTEE DOCUMENTS THE BASIS FOR ITS DECISION IN THE MINUTES OF THE MEETING AT WHICH THE DECISION WAS MADE. FORM 990, PART VI, SECTION B, LINE 15A BEFORE APPROVING THE COMPENSATION OF AN OFFICER, THE BOARD SHALL DETERMINE THAT THE TOTAL COMPENSATION TO BE PROVIDED BY THE CORPORATION TO THE OFFICER IS REASONABLE IN AMOUNT IN LIGHT OF THE POSITION, RESPONSIBILITY AND QUALIFICATION OF THE OFFICER FOR THE POSITION HELD, INCLUDING THE RESULT OF AN EVALUATION OF THE OFFICER'S PRIOR PERFORMANCE FOR THE CORPORATION, IF APPLICABLE. IN MAKING THE DETERMINATION, THE BOARD SHALL CONSIDER TOTAL COMPENSATION TO INCLUDE THE SALARY AND THE VALUE OF ALL BENEFITS PROVIDED BY THE CORPORATION TO THE INDIVIDUAL IN PAYMENT FOR SERVICES. AT THE TIME OF THE DISCUSSION AND DECISION CONCERNING AN OFFICER'S COMPENSATION, THE OFFICER SHALL NOT BE PRESENT. THE BOARD SHALL OBTAIN AND CONSIDER APPROPRIATE DATA CONCERNING COMPARABLE COMPENSATION PAID TO SIMILAR OFFICERS IN LIKE CIRCUMSTANCES. THE BOARD SHALL SET FORTH THE BASIS FOR ITS DECISION WITH RESPECT TO COMPENSATION IN THE MINUTES OF THE MEETING AT WHICH THE DECISIONS ARE MADE, INCLUDING THE CONCLUSIONS OF THE EVALUATION AND THE BASIS FOR DETERMINING THAT THE INDIVIDUAL'S COMPENSATION WAS REASONABLE IN LIGHT OF THE EVALUATION AND THE COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 19 NEXTCORPS, INC. AND SUBSIDIARY'S FORM 1023 AND FORM 990 ARE AVAILABLE ON REQUEST. ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE NOT ROUTINELY MADE AVAILABLE TO THE PUBLIC. FORM 990 PART XII, LINE 2C EXPLANATION THE BOARD HAS NOT CHANGED ITS PROCESS FOR SELECTING THE INDEPENDENT AUDITOR NOR HAVE THEY CHANGED THE OVERSIGHT OF THE AUDIT FROM PRIOR YEARS. 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