Schedule L
(Form 990)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
right arrow Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
right arrow Attach to Form 990 or Form 990-EZ.
right arrowGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2022
Open to Public Inspection
Name of the organization
ELECTRICORE INC
 
Employer identification number

35-1888396
Part I
Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No
2
Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... right arrow$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ right arrow$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e) Original principal amount (f) Balance due (g) In default? (h) Approved by board or committee? (i) Written agreement?
To From Yes No Yes No Yes No
Total ...............right arrow $  
Part III
Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990) 2022
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Schedule L (Form 990) 2022
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Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) EMPIRICAL SYSTEMS AEROSPACE
 
OFFICERS/BOD 2,400 RENT PAID - OFFICE SPACE   No
(2) EMPIRICAL SYSTEMS AEROSPACE
 
OFFICERS/BOD 18,500 CONSORTIUM MEMBER FEES   No
(3) SVANTE
 
OFFICERS/BOD 3,454,056 CONTRACT COSTS   No
(4) KATHRYN FAGUNDO RELATED PARTY 144,509 PAYROLL   No
(5) KENNETH ZURAWSKI DIRECTOR 9,400 PROFESSIONAL SERVICES   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
PART IV, LINE 1 AND 2 ELECTRICORE'S OFFICERS DEBORAH JELEN & ILKER BAYRAKTAR ARE MEMBERS OF THE BOARD OF DIRECTORS FOR EMPIRICAL SYSTEMS AEROSPACE (ESAERO). ILKER BAYRAKTAR SERVES AS THE CHAIRMAN OF THE BOARD AND IS A MINORITY SHAREHOLDER OF ESAERO. DEBORAH JELEN SERVES AS THE VICE CHAIRMAN OF THE BOARD AND IS A MINORITY SHAREHOLDER OF ESAERO. ELECTRICORE RECOGNIZED $18,500 OF CONSORTIUM MEMBERSHIP FEES FROM ESAERO IN 2022. ELECTRICORE PAID ESAERO $2,400 FOR OFFICE SPACE RENT IN 2022.
PART IV, LINE 3 CLAUDE LETOURNEAU, CHAIRMAN OF THE BOARD FOR ELECTRICORE, WORKS FOR SVANTE. SVANTE IS A SUBCONTRACTOR TO ELECTRICORE ON SEVERAL DOE GRANTS. ELECTRICORE HAD CONTRACT COSTS OF $3,454,056 WITH SVANTE IN 2022. THE AFOREMENTIONED CONTRACT COSTS WERE RELATED TO PROGRAM EXPENSES UNDER FEDERAL CONTRACTS. AS OF 12/31/22, ELECTRICORE OWED $376,921 IN ACCOUNTS PAYABLE TO SVANTE. THE ACCOUNTS PAYABLE BALANCE RELATED TO PROGRAM EXPENSES UNDER FEDERAL CONTRACTS.
PART IV, LINE 5 AS OF 12/31/22, ELECTRICORE OWED KENNETH ZURAWSKI $600 FOR PROFESSIONAL SERVICES.
PART IV AS OF 12/31/22, ELECTRICORE OWED $100 TO ILKER BAYRAKTAR TO REIMBURSE FOR BUSINESS TRAVEL.
Schedule L (Form 990) 2022


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