Institute For Therapeutic Discovery Inc
- Assets
- $51.0k
- Revenue
- $43.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 05/2004
- Data as of
- 06/2021
- EIN
- 20-0109928
Organization Overview
Institute For Therapeutic Discovery Inc is located in Providence, RI. The organization was established in 2004. According to its NTEE Classification (H90) the organization is classified as: Medical Disciplines Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Therapeutic Discovery Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Institute For Therapeutic Discovery Inc generated $43.4k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $46.2k during the year ending 06/2021. While expenses have increased by 8.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DISCOVERY AND EARLY-STAGE RESEARCH BUILT ON BRIDGING BIOPHYSICS AND BIOCHEMISTRY TO HELP PHYSICIANS TREAT DISEASE BY RESTORING NATURAL FUNCTION AT THE CELLULAR LEVEL
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE HAD VERY LITTLE ACTIVITY AT THE INSTITUTE FOR CHRONIC TRAUMATIC BRAIN INJURY, LLC ICTBI WHICH IS A DISREGARDED ENTITY FOR TAX PURPOSES. THE COVID-19 PANDEMIC LIMITED OUR OUTREADH AND FACE-TO-FACE CONTACTS. OUR PURPOSE REMAINS TO SUPPORT PRODUCT DEVELOPERS OR COMPANIES WITH PROMISING PRODUCTS FOR LONG-TERM, CHRONIC TRAUMATIC BRAIN INJURY 1 TO COMPLETE THE RESEARCH NECESSARY TO OBTAIN AN IND FROM THE FDA TO ENGAGE IN HUMAN CLINICAL TRIALS AND 2 TO COMPLETE THEIR FIRST SUCH TRIAL. FINANCIAL SUPPORT FOR THESE ACTIVITIES WILL BE PROVIDED BY MAKING MISSION RELATED INVESTMENTS IN SUCH PROJECTS EITHER FOR SHARES OR ROYALTIES OR SIMILAR INTERESTS AND WILL NOT GENERALLY BE PROVIDED BY MAKING ONLY GRANTS. FOR MANY PROJECTS OR COMPANIES THE PURCHASE OF SHARES OR ROYALTY INTERESTS IS FINANCIALLY EQUIVALENT TO GRANT SUPPORT. WHILE WE DO NOT CLASSIFY SUCH MISSION RELATED INVESTMENTS AS GRANTS, THE READER SHOULD RECOGNIZE THAT IN THE YEAR ENDING 2020 WE MADE AN INVESTMENT OF 50,000 IN FURTHERANCE OF THIS PROGRAM.
OUR CONTINUING PROGRAM FOR THE DISCOVERY AND EARLY STAGE RESEARCH OF USEFUL MEDICINAL COMPOUNDS BY BRIDGING BIOPHYSICS AND BIOCHEMISTRY CONTINUES AS IT HAS SINCE OUR FOUNDING. THE GOAL OF THIS PROGRAM HAS BEEN TO HELP MEDICAL PRACTITIONERS TREAT DISEASE BY RESTORING NATURAL FUNCTION AT THE CELLULAR LEVEL WITH A FOCUS ON CHRONIC CNS DISORDERS. THE PRACTITIONER GROUP CONTINUES TO MEET AS IT HAS SINCE THE FOUNDING OF THE INSTITUTE. OUR ROYALTY REVENUE ARISES FROM THIS WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Kara Fitzgerald Director | Trustee | 0.1 | $0 |
Dr Lloyd Saberski Director | Trustee | 0.1 | $0 |
Dr Betty Sadaniantz Director | Trustee | 0.1 | $0 |
Dr John Mcmichael Chief Exec Officer | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,149 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,149 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $7,225 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,374 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,459 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,602 |
| Advertising and promotion | $0 |
| Office expenses | $10,423 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,898 |
| Total functional expenses | $46,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,040 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $50,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $51,040 |
| Accounts payable and accrued expenses | $15,359 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $8,150 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $23,509 |
| Net assets without donor restrictions | $27,531 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $51,040 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Viron Molecular Medicine Institute Foundatio Boston, MA | $83,206 | $312,004 |
Serenagroup Research Foundation Cambridge, MA | $0 | $194,175 |
Richard And Patricia Jay Charitable Foundation Westport, CT | $1,659 | $105 |
International Conference On The Chemistry And Biology Of East Falmouth, MA | $151,582 | $122,733 |
International Society For Evolution Medicine & Public Health New Haven, CT | $109,443 | $87,171 |
Worcester Environmental Education Research Effort Inc West Boylston, MA | $24,417 | $0 |
Lynch Syndrome International Madison, CT | $32,300 | $0 |
Institute For Therapeutic Discovery Inc Providence, RI | $51,040 | $43,374 |
Evidence Based Acupuncture Bristol, RI | $40,868 | $0 |
Yale Orthopedic Foundation Inc Hamden, CT | $206,765 | $3,320 |
Blood Research Institute Inc Boston, MA | $3,391,342 | -$962,675 |
Jlk Sanfilippo Research Foundation Belmont, MA | $0 | $0 |