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Excell Partners INC FY2022 filing

Tax-deductible

Rochester, NY501(c)(3)Community DevelopmentEIN 20-1862628

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To provide financial support, education, management support and networking connections to technology-based start-up companies emerging from the communities, universities and research centers across upstate new york.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $87K a year · 8% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
14 mo
of spending, in cash
Looks good: 14.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $250K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$71K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 10 voting members
Looks good: 8 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$845K
-22% vs prior year
Spent
$973K
To programs
0%
Net assets
$4.8M
By yearFY2021–FY2025
Revenue
$845K
FY2022▼ -22%
Revenue by fiscal year
FY2021$1.1M
FY2022$845K
FY2023$948K
FY2024$1.0M
FY2025$1.4M
Expenses
$973K
FY2022▲ +24%
Expenses by fiscal year
FY2021$785K
FY2022$973K
FY2023$1.1M
FY2024$997K
FY2025$1.1M
Net assets
$4.8M
FY2022▼ -5%
Net assets by fiscal year
FY2021$5.0M
FY2022$4.8M
FY2023$4.7M
FY2024$4.7M
FY2025$5.3M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2017.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 100% · $973K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Theresa Mazzullo
Chief Executive Officer
$0Pt VII · Sec A
Joel Malina
Director
$0Pt VII · Sec A
Peter Robinson
Chairman of the Board
$0Pt VII · Sec A
$0Pt VII · Sec A
Yoram Katz
Chief Operating Officer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Excell Partners INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Supports tech startups with funding, education, and networking in Upstate New York.

Provided by the organization

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1 program · in their own filed words · FY2021
01

Provide financial support to technology based start-ups in the form of equity and convertible notes, to be used for entity formation, business plans, market assessment, recruitment and technology development. Provide educational and management support, as well as connections to early stage venture capital firms.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
The Ralph C Wilson JR FoundationFY2024$250K
Total grants receivedfrom 1 funder$250K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$845K
Ln 12
Other incomeLn 4–11$784K
Gifts and grantsLn 1h$40K
Investment incomeLn 3$20K
Money outPt IX
$973K
Ln 25
Managementcol C$973K
Owns and owesPt X
$4.8M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$4.9M
LiabilitiesLn 26$71K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$40K
Government grantsLn 1e$40K
Investment incomeLn 3$20K
Other incomeLn 4–11$784K
Total revenueLn 12$845K
Assets in detailPt X, end of year
CashLn 1$45K
SavingsLn 2$1.1M
Cash and savings togetherLn 1–2$1.1M
InvestmentsLn 11–13$3.7M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$48K
Total assetsLn 16$4.9M
LiabilitiesLn 26$71K
Net assetsLn 32$4.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$1.2M$1.1M
InvestmentsLn 11–13$3.7M$3.7M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$5.1M$4.9M
LiabilitiesLn 26$55K$71K
Net assetsLn 32$5.0M$4.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$70K$70K
Management feesLn 11a$804K$804K
Legal feesLn 11b$12K$12K
Accounting feesLn 11c$31K$31K
Advertising and promotionLn 12$575$575
Office expensesLn 13$15K$15K
OccupancyLn 16$12K$12K
TravelLn 17$10K$10K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$16K$16K
Total functional expensesLn 25$973K$0$973K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.4M$1.1M$370K$5.3M 990 PDF
FY2024 $1.0M$997K$18K$4.7M 990 PDF
FY2023 $948K$1.1M−$115K$4.7M 990 PDF
FY2022 Viewing $845K$973K−$128K$4.8M 990 PDF
FY2021 $1.1M$785K$292K$5.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $844,909 across 5 lines filed
VIII-1e Government grants$40,412
VIII-1h Total contributions, gifts and grants$40,412
VIII-3 Investment incomeRelated to mission $20,000$20,000
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $784,497$784,497
VIII-12 Total revenueRelated to mission $804,497 · Unrelated business $0 · Excluded from tax $0$844,909
Part IX · Statement of functional expenses $972,651 across 10 lines filed
IX-7 Other salaries and wagesManagement $69,908$69,908
IX-11a Management feesManagement $803,875$803,875
IX-11b Legal feesManagement $12,473$12,473
IX-11c Accounting feesManagement $30,989$30,989
IX-12 Advertising and promotionManagement $575$575
IX-13 Office expensesManagement $15,296$15,296
IX-16 OccupancyManagement $12,142$12,142
IX-17 TravelManagement $9,540$9,540
IX-23 InsuranceManagement $1,399$1,399
IX-24 Other expenses (24a–d)Management $16,454$16,454
IX-25 Total functional expensesPrograms $0 · Management $972,651 · Fundraising $0$972,651
Part X · Balance sheet $4,877,874 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $45,000$45,000
X-2 Savings and temporary cash investmentsStart of year $1,181,527$1,092,140
X-10c Land, buildings and equipment, netStart of year $0$0
X-13 Program-related investmentsStart of year $3,696,837$3,693,002
X-15 Other assetsStart of year $175,146$47,732
X-16 Total assetsStart of year $5,102,560$4,877,874
X-17 Accounts payable and accrued expensesStart of year $55,409$70,696
X-26 Total liabilitiesStart of year $55,409$70,696
X-27 Net assets without donor restrictionsStart of year $5,047,151$4,807,178
X-32 Total net assets or fund balancesStart of year $5,047,151$4,807,178
X-33 Total liabilities and net assetsStart of year $5,102,560$4,877,874
Part XI · Reconciliation of net assets $4,807,178 net assets at year end
XI-1 Total revenue$844,909
XI-2 Total expenses$972,651
XI-3 Revenue less expenses−$127,742
XI-4 Net assets at start of year$5,047,151
XI-5 Net unrealized gains (losses) on investments$36,649
XI-9 Other changes in net assets−$148,880
XI-10 Net assets at end of year$4,807,178

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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