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Institute For Commercialization Of Florida Technology Inc

  • Clearwater, FL
  • Tax-exempt since Feb. 2010
  • EIN: 90-0348486

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Community Improvement, Capacity Building / Business and Industry (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$163k (2023)

Expenses
$2.92M (2023)

Total Assets
$14.3M (2023)

Total Liabilities
$99.7k (2023)

Source: Form 990 tax filings from 2012 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$163,151
Expenses
$2,918,595
Net Income
-$2,755,444
Net Assets
$14,190,977
Notable Sources of Revenue Percent of Total Revenue
Contributions $500
0.3%
Program Services $152,049
93.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $10,602
6.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $90,000
3.1%
Professional Fundraising Fees $0
Other Salaries and Wages $39,633
1.4%
Assets/Debt
Total Assets $14,290,682
Total Liabilities $99,705
Net Assets $14,190,977
Compensation
Key Employees and Officers Compensation Related Other
Rafael Lohner (Executive Director) $90,000 $0 $0
Jim O'connell (Board Member) $0 $0 $0
Renee Finley (Chairman) $0 $0 $0
Sherrick Rick Wassel (Vice Chairman) $0 $0 $0
Lynn Mattice (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on May 10, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$342,694
Expenses
$1,727,814
Net Income
-$1,385,120
Net Assets
$16,946,421
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $342,694
100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $92,830
5.4%
Professional Fundraising Fees $0
Other Salaries and Wages $10,769
0.6%
Assets/Debt
Total Assets $17,091,469
Total Liabilities $145,048
Net Assets $16,946,421
Compensation
Key Employees and Officers Compensation Related Other
Rafael Lohner (Executive Director) $88,308 $0 $0
Renee Finley (Chairman) $0 $0 $0
Rick Wassel (Vice Chairman) $0 $0 $0
Jim O'connell (Board Member) $0 $0 $0
Lynn Mattice (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on Dec. 5, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$787,082
Expenses
$2,905,252
Net Income
-$2,118,170
Net Assets
$18,331,541
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $787,082
100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $82,808
2.9%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $18,448,245
Total Liabilities $116,704
Net Assets $18,331,541
Compensation
Key Employees and Officers Compensation Related Other
Rafael Lohner (Executive Director) $65,327 $0 $0
Renee Finley (Chairman) $0 $0 $0
Rick Wassel (Vice Chairman) $0 $0 $0
Jim O'connell (Board Member) $0 $0 $0
Lynn Mattice (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on Dec. 13, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$552,446
Expenses
$1,704,721
Net Income
-$1,152,275
Net Assets
$20,449,711
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,000
0.2%
Program Services $551,446
99.8%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $90,865
5.3%
Professional Fundraising Fees $0
Other Salaries and Wages $28,111
1.6%
Assets/Debt
Total Assets $20,563,191
Total Liabilities $113,480
Net Assets $20,449,711
Compensation
Key Employees and Officers Compensation Related Other
Jane Teague (Chief Operating Officer) $184,405 $0 $64,542
Renee Finley (Chairman) $0 $0 $0
Rick Wassel (Vice Chairman) $0 $0 $0
Jim O'connell (Board Member) $0 $0 $0
Lynn Mattice (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on Jan. 11, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$672,170
Expenses
$1,869,446
Net Income
-$1,197,276
Net Assets
$21,601,986
Notable Sources of Revenue Percent of Total Revenue
Contributions $14,500
2.2%
Program Services $657,670
97.8%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $242,469
13.0%
Professional Fundraising Fees $0
Other Salaries and Wages $159,196
8.5%
Assets/Debt
Total Assets $21,804,026
Total Liabilities $202,040
Net Assets $21,601,986
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Jane Teague (Chief Operating Officer) $170,969 $0 $59,839
Jackson Streeter (Chief Executive Officer) $123,992 $0 $43,397
Lawrence Tinker (Entrepreneur In Residence) $123,601 $0 $43,260
Todd B Andersen Davis (Fund Manager) $121,909 $0 $42,668
Renee Finley (Chairman) $0 $0 $0
Rick Wassel (Vice Chairman) $0 $0 $0
Jim O'connell (Board Member) $0 $0 $0
+ View more people

Document Links

990
Filed on Nov. 14, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,915,604
Expenses
$2,105,763
Net Income
-$190,159
Net Assets
$22,799,262
Notable Sources of Revenue Percent of Total Revenue
Contributions $20,237
1.1%
Program Services $1,895,367
98.9%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $282,425
13.4%
Professional Fundraising Fees $0
Other Salaries and Wages $442,877
21.0%
Assets/Debt
Total Assets $23,130,336
Total Liabilities $331,074
Net Assets $22,799,262
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Jackson Streeter (Chief Executive Officer) $169,333 $0 $55,880
Jane Teague (Chief Operating Officer) $153,066 $0 $50,512
Lawrence Tinker (Entrepreneur In Residence) $126,109 $0 $41,616
Hal Valeche (Treasurer) $0 $0 $0
Renee Finley (Chairman) $0 $0 $0
Rick Wassel (Vice Chairman) $0 $0 $0
Drew Graham (Board Member) $0 $0 $0
Jim O'connell (Board Member) $0 $0 $0
+ View more people

Document Links

990
Filed on Nov. 15, 2018

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,497,859
Expenses
$3,029,434
Net Income
$3,468,425
Net Assets
$22,989,421
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,631,183
86.7%
Program Services $866,676
13.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $368,927
12.2%
Professional Fundraising Fees $0
Other Salaries and Wages $692,610
22.9%
Assets/Debt
Total Assets $23,463,384
Total Liabilities $473,963
Net Assets $22,989,421
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Jane Teague (Chief Operating Officer) $163,252 $0 $53,873
Jackson Streeter (Chief Executive Officer) $150,960 $0 $49,817
Alison Tanner Departed 022017 ((Former) Entrepreneur In Residence) $136,188 $0 $44,942
Joseph Reddy (Entrepreneur In Residence) $129,935 $0 $42,878
Lawrence Tinker (Entrepreneur In Residence) $123,623 $0 $40,796
David Day Departed 042017 (Vice Chairman) $0 $0 $0
Hal Valeche (Treasurer) $0 $0 $0
Renee Finley (Chairman) $0 $0 $0
Rick Wassel (Vice Chairman) $0 $0 $0
Drew Graham (Board Member) $0 $0 $0
Jim O'connell (Board Member) $0 $0 $0
+ View more people

Document Links

990
Filed on Nov. 14, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,456,780
Expenses
$3,732,937
Net Income
$2,723,843
Net Assets
$19,520,996
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,664,057
87.7%
Program Services $792,723
12.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $367,411
9.8%
Professional Fundraising Fees $0
Other Salaries and Wages $691,017
18.5%
Assets/Debt
Total Assets $20,028,953
Total Liabilities $507,957
Net Assets $19,520,996
Compensation
Key Employees and Officers Compensation Related Other
Jamie Grooms (Chief Executive Officer Former) $199,262 $0 $65,756
Jane Teague (Chief Operating Officer) $160,590 $0 $52,995
Allison Tanner (Entrepreneur In Residence) $128,687 $0 $42,467
Joseph Reddy (Entrepreneur In Residence) $124,657 $0 $41,137
Lawrence Tinker (Entrepreneur In Residence) $120,442 $0 $39,746
David Day (Vice Chairman) $0 $0 $0
Hal Valeche (Treasurer) $0 $0 $0
Manny Fernandez Departed 102015 (Board Member) $0 $0 $0
Renee Finley (Board Member) $0 $0 $0
Rick Wassel (Chairman) $0 $0 $0
Drew Graham (Board Member) $0 $0 $0
Jackson Streeter (Chief Executive Officer Current) $0 $0 $0
+ View more people

Document Links

990
Filed on Nov. 14, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,220,212
Expenses
$3,168,473
Net Income
$3,051,739
Net Assets
$16,797,153
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,622,135
90.4%
Program Services $598,077
9.6%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $384,273
12.1%
Professional Fundraising Fees $0
Other Salaries and Wages $648,430
20.5%
Assets/Debt
Total Assets $17,307,780
Total Liabilities $510,627
Net Assets $16,797,153
Compensation
Key Employees and Officers Compensation Related Other
Jamie Grooms (Chief Executive Officer) $199,303 $0 $70,119
Jane Teague (Chief Operating Officer) $159,004 $0 $56,691
Allison Tanner (Entrepreneur In Residence) $128,132 $0 $42,283
Joseph Reddy (Entrepreneur In Residence) $124,003 $0 $40,921
Lawrence Tinker (Entrepreneur In Residence) $118,891 $0 $39,234
David Day (Vice Chairman) $0 $0 $0
Hal Valeche (Treasurer) $0 $0 $0
Manny Fernandez (Board Member) $0 $0 $0
Renee Finley (Board Member) $0 $0 $0
Rick Wassel (Board Member) $0 $0 $0
+ View more people

Document Links

990
Filed on Nov. 13, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,333,311
Expenses
$1,888,017
Net Income
$4,445,294
Net Assets
$13,745,414
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,611,109
88.6%
Program Services $723,371
11.4%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$1,169
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $323,238
17.1%
Professional Fundraising Fees $0
Other Salaries and Wages $694,166
36.8%
Assets/Debt
Total Assets $14,285,231
Total Liabilities $539,817
Net Assets $13,745,414
Compensation
Key Employees and Officers Compensation Related Other
Jamie Grooms (Chief Executive Officer) $173,403 $0 $59,260
Jane Teague (Chief Operating Officer) $137,033 $0 $47,408
Alison Tanner (Entrepreneur In Residence) $120,918 $0 $39,903
Joseph Reddy (Entrepreneur In Residence) $119,575 $0 $39,460
Rhys Williams (Treasurer) $0 $0 $0
David Day (Vice Chairman) $0 $0 $0
Hal Valeche (Board Member) $0 $0 $0
John Fraser (Board Member) $0 $0 $0
+ View more people

Document Links

990
Filed on Jan. 29, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,190,020
Expenses
$1,754,015
Net Income
-$563,995
Net Assets
$9,300,120
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,052,650
88.5%
Program Services $137,370
11.5%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $313,914
17.9%
Professional Fundraising Fees $0
Other Salaries and Wages $668,858
38.1%
Assets/Debt
Total Assets $9,569,494
Total Liabilities $269,374
Net Assets $9,300,120

Document Links

990
Filed on Jan. 7, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$10,032,576
Expenses
$661,776
Net Income
$9,370,800
Net Assets
$9,864,115
Notable Sources of Revenue Percent of Total Revenue
Contributions $10,000,000
99.7%
Program Services $23,576
0.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $9,000
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $107,244
16.2%
Professional Fundraising Fees $0
Other Salaries and Wages $64,629
9.8%
Assets/Debt
Total Assets $10,327,583
Total Liabilities $463,468
Net Assets $9,864,115

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2011

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990-EZ

Short form tax return for a nonprofit’s activities, finances, and governance

PDF

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

Byline

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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