2026-05-15T17:19:39+00:00 2025-06-30 311119890 Barnes Dennig & Co LTD 5342 W Vermont St Indianapolis IN 46224 990 2024-07-01 351990726 Indiana University Research & Technology Corporation INDI 3172781911 642 N Madison Street 113 Bloomington IN 47404 Anthony T Armstrong President and CEO 2026-05-15 true John W Keller P01329619 3172412999 2026-05-15 2024 2025-03-06 01:10:19Z Anthony T Armstrong 642 N Madison Street 113 Bloomington IN 47404 1722356 false X www.iuventures.com X 1996 IN The Indiana University Research and Technology Corporation (IURTC) serves Indiana university, the state of Indiana, and the nation through creation and application of the university developed technologies and services, and the expanded linkage of the private sector to the university. 13 10 6 9 101314 0 126139 144134 992715 990050 -2114501 -544474 74229 281385 -921418 871095 0 0 0 0 946223 755246 0 0 0 590532 439210 1536755 1194456 -2458173 -323361 17325932 16815995 567896 503347 16758036 16312648 The Indiana University Research and Technology Corporation (IURTC) serves Indiana university, the state of Indiana, and the nation through creation and application of the university developed technologies and services, and the expanded linkage of the private sector to the university. false false 570635 990050 INVESTMENTS - The IURTC manages the business and investments under the Indiana Philanthropic Venture Fund (IPVF) as well as Innovate Indiana Fund I, LLC (IIF) regarding planning, operations, and investments. Both IPVF and IIF are established to acquire, hold, dispose, and manage investments in life science and technology companies. An investment committee is utilized to assist with investment decisions. 402887 STUDENT ENGAGEMENT - The STUDENT ENGAGEMENT program is established to fully realize the benefits of University innovations through start-up company formation and support. Angel network - created in fiscal year 2019, the IURTC engages with high net worth individuals through this membership network and facilitates connections for startup companies with prospective investors. The angel network continues the IURTC and the university's mission of fostering a pervasive entrepreneurial culture that contributes to the prosperity of the state of Indiana, the nation, and the world. 973522 true false false false false false false false false false false true false false 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 true true false false false false true X 16 0 true 6 true true true false false false false false false false false false false false X 13 10 false false false false false false false true true false false false true true true true true true true true false false IN X Michael J Burton CFO 3172781911 642 N Madison Street Suite 113 Bloomington IN 47404 Anthony Armstrong President And CEO 40.0 X X 0 289841 60264 Bill Stephan Chairman 1.0 40.0 X X 0 0 0 Charles Schalliol Member 1.0 X 0 0 0 Elizabeth Hagerman Member 1.0 X 0 0 0 Gregg Summerville Member 1.0 X 0 0 0 Joyce Rogers Member 1.0 X 0 0 0 Kathy Fields Member 1.0 X 0 0 0 Mark Kelley Member 1.0 X 0 0 0 Ravi Bhatt Member 1.0 X 0 0 0 Russel J Mumper Member 1.0 X 0 471433 75546 Theodore Widlanski Member 1.0 40.0 X 0 179585 35064 Tina Peterson Member 1.0 X 0 0 0 Ting Gootee Member 1.0 X 0 0 0 Jason Whitney CIO 40.0 X 204356 0 53631 Jonathan Barada VP of Engagement 40.0 X 204067 0 32829 Michael Burton CFO 40.0 X 160207 0 39729 568630 940859 297063 6 false true false 0 46625 22965 74544 144134 Management Fees IU Contract Revenue 541610 983000 983000 Other Revenue 541900 7050 7050 0 0 0 0 990050 290990 290990 0 0 15797 851261 -835464 0 -835464 -835464 Management Fees - IIF 541900 197600 197600 Credit Loss Recovery 900099 54687 54687 K-1 Income from pass through entities 541900 29098 -96286 125384 0 0 0 0 281385 871095 990050 101314 -364403 436833 305783 131050 176804 124813 51991 61980 43492 18488 37713 26464 11249 41916 29413 12503 61761 55712 6049 43050 7600 35450 29875 24900 4975 0 75436 57436 18000 9875 3649 6226 71627 61219 10408 87856 84991 2865 49840 25808 24032 Dues and Subscriptions 9603 9033 570 Prinitng 270 209 61 Miscellaneous Expense 17 17 Personnel Cost Allocation 0 113000 -113000 0 0 0 0 1194456 973522 220934 0 4159958 4482142 0 0 0 0 47321 14145 0 0 0 0 12840708 11971869 0 277945 347839 17325932 16815995 92166 64126 81440 48150 0 0 394290 391071 567896 503347 X 16758036 16312648 0 0 16758036 16312648 17325932 16815995 X -323361 104997 -227024 X X false true true false X X 1 Indiana University 356001673 6 true 4709348 0 1 4709348 0 true false false false false false false false false false false false false false false true false Closely-held equity interests Financial derivatives Non-publicly Traded Stocks 310943 C Innovate Indiana Fund I, LLC 2017820 C Indiana Philanthrpic Venture Fund 9643106 C 11971869 Federal Income Taxes Related Party Payable: University 391071 391071 X 422893 104997 367916 472913 -50020 921115 921115 871095 1789396 594940 594940 1194456 0 0 1194456 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The IURTC is exempt from federal income taxes under Section 501(c)(3) of the U.S. Internal Revenue Code (Code). The IURTC is not considered to be a private foundation. The IURTC individually evaluates its activities to determine that they are in compliance with its tax-exempt purposes. For those activities that the IURTC determines to be unrelated business income, the IURTC records the resulting unrelated business income tax liability, if any. Any tax liabilities owed for income from the investment in IIF are recorded in the consolidated financial statements. Due to the carryforward of losses of IIF for the years ended June 30, 2025 and 2024, no taxes were owed by the IURTC. As of June 30, 2025 and 2024, net operating loss carryforwards begin to expire in fiscal year 2028. At June 30, 2025, IURTC has net operating loss carryforwards of approximately $5.1 million for which management has estimated a 100% valuation allowance. IPVF are limited liability companies classified as partnerships for tax purposes under the Code. Under provisions of Code Section 701, IIF's, and IPVF's income is taxed directly to its members and these entities are considered disregarded entities for tax purposes. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Intercompany Management Fees - 594940 Adjustment for Income (Loss) from Passthrough Entities - -227024 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Intercompany Elimination - 921115 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Intercompany Management Fees - 594940 X false false false false false false false false false Anthony Armstrong President And CEO 0 259617 0 0 0 30224 0 30224 0 30040 0 350105 0 0 Russel J Mumper Member 0 426188 0 0 0 45245 0 47110 0 28436 0 546979 0 0 Theodore Widlanski Member 0 179585 0 0 0 0 0 26433 0 8631 0 214649 0 0 Jason Whitney CIO 204356 0 0 0 0 0 21230 0 32401 0 257987 0 0 0 Jonathan Barada VP of Engagement 204067 0 0 0 0 0 20613 0 12216 0 236896 0 0 0 Michael Burton CFO 160207 0 0 0 0 0 16586 0 23143 0 199936 0 0 0 Form 990, Part V, Line 1c No gaming activities conducted by the organization. Form 990, Part VI, Line 11b Review of form 990 by governing body Finance and Audit Committee reviews and approves the Form 990. Form 990, Part VI, Line 12c Conflict of interest policy The board is responsible for monitoring compliance with the conflict of interest policy. Form 990, Part VI, Line 15b Process to establish compensation of other employees The compensation for the CEO senior leaders of IURTC will be determined and reviewed by the Compensation Committee of the Board. Form 990, Part VI, Line 19 Required documents available to the public Governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part XI, Line 9 Other changes in net assets or fund balances K-1 (Gain) Loss not reported on financial statement - 157299; Intercompany Elimination - -384323; Total - -227024; Form 990, Part XII, Line 2c Change of oversight process or selection process The audit committee assumes oversight for the financial statements. No processes have changed from the prior year. Indiana Philanthropic Venture Fund LLC (IPVF) 518 Indiana Avenue Indianapolis IN 46202 823314905 Invest in Development of High-Potential, Early Stage Innovations and Tech IN -326158 10103513 Indiana University Research & Technology Corporation Indiana University 107 S Indiana Ave Bloomington IN 47405 356001673 University IN 501(c)(3) 6 NA false Innovate Indiana Fund I LLC 518 Indiana Avenue Indianapolis IN 46202 273765586 Management of Business Holdings IN Indiana University Research & Technology Corporation -106695 2226521 false true 0.6964 false false false false true false false false false false false true false false false true false false false Innovate Indiana Fund I LLC L 197600 FMV of Services Performed Indiana University - Management Fees L 983000 FMV of Services Performed Indiana University - Payment for Expenses P 4709348 FMV of Services Performed