Spring Point Project
- Assets
- $7.6m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 15
- Location
- Minneapolis, MN
- Founding
- 08/2005
- Data as of
- 12/2022
- EIN
- 20-1896813
Organization Overview
Spring Point Project is located in Minneapolis, MN. The organization was established in 2005. According to its NTEE Classification (H80) the organization is classified as: Specifically Named Diseases Research, under the broad grouping of Medical Research and related organizations. As of 12/2022, Spring Point Project employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spring Point Project 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 12/2022, Spring Point Project generated $3.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $3.1m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEDICAL-GRADE PORCINE ISLETS TO REPLACE THOSE LOST IN TYPE 1 DIABETES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRED AND RAISED DESIGNATED PATHOGEN-FREE (DPF) MEDICAL-GRADE PIGS FOR USE IN BIOMEDICAL RESEARCH STUDIES TO DEVELOP A NOVEL PRODUCT FOR THE TREATMENT OF TYPE 1 DIABETES AND OTHER DISEASES. THE LONG-TERM PROGRAM OBJECTIVE IS TO PRODUCE A SUFFICIENT SUPPLY OF SUITABLE DONOR PIGS TO SERVE AS ISLET DONORS FOR DIABETIC PATIENTS, ULTIMATELY LEADING TO A CURE FOR DIABETES. PANCREAS PROCUREMENT, ISLET ISOLATION AND ENCAPSULATION ACTIVITIES ARE UNDERWAY IN ORDER TO ENABLE THE PREPARATION OF AN INVESTIGATIONAL NEW DRUG APPLICATION (IND), WHICH IS NECESSARY FOR CLINICAL STUDIES. TO DATE, THE ORGAINZATION HAS PRODUCED OVER TWO THOUSAND DPF PIGS AND MANUFACTURED AND ISOLATED OVER 155 MILLION PORCINE ISLETS FROM DESIGNATED PATHOGEN-FREE (DPF) ANIMALS PRODUCED AT THE ORGANIZATION'S FACILITY TO SUPPORT: (1) PRECLINICAL TRANSPLANTATION STUDIES AND PHASE I/II CLINICAL PREPARATION ACTIVITIES AND (2) THE VALIDATION OF THE CGMP MANUFACTURING OF A CLINICALLY SUITABLE PRODUCT IN THE ON-SITE CELLULAR MANUFACTURING FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Spizzo Executive Director | Officer | 40 | $196,003 |
Patrick Ryan Board Chair | OfficerTrustee | 1 | $0 |
Timothy Clark Board Vice Chair | OfficerTrustee | 1 | $0 |
Steve Murphy Treasurer | OfficerTrustee | 1 | $0 |
Martha Vetter Secretary | OfficerTrustee | 1 | $0 |
Christian Gretschel Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Envigo Rms Llc Animal Feed Provider | 12/30/22 | $195,954 |
Eurofins Lancaster Laboratories Inc Product Mycoplasma Testing | 12/30/22 | $128,302 |
Avantor Product Manufacturing Supplies And Porci | 12/30/22 | $184,504 |
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 | $3,021 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,021 |
| Total Program Service Revenue | $3,156,701 |
| Investment income | $24,421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$36,622 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,148,339 |
| 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. | $232,536 |
| Compensation of current officers, directors, key employees. | $46,507 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $861,199 |
| Pension plan accruals and contributions | $23,647 |
| Other employee benefits | $118,755 |
| Payroll taxes | $76,823 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $315 |
| Fees for services: Accounting | $21,037 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,031 |
| Advertising and promotion | $0 |
| Office expenses | $14,201 |
| Information technology | $61,823 |
| Royalties | $0 |
| Occupancy | $24,006 |
| Travel | $10,860 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,229 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $224,596 |
| Insurance | $102,676 |
| All other expenses | $59,590 |
| Total functional expenses | $3,131,159 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $769,547 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $28,336 |
| Accounts receivable, net | $90,498 |
| 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 | $44,258 |
| Net Land, buildings, and equipment | $5,157,931 |
| Investments—publicly traded securities | $1,521,941 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,612,511 |
| Accounts payable and accrued expenses | $172,827 |
| Grants payable | $0 |
| Deferred revenue | $84,708 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $257,535 |
| Net assets without donor restrictions | $7,354,976 |
| 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 | $7,612,511 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Spring Point Project has recieved totaling $36.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $36 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Spring Point Project Minneapolis, MN | $7,612,511 | $3,148,339 |
Swine Health Information Center Inc Ames, IA | $4,515,453 | $11,816 |
Ellyn Satter Institute Inc Middleton, WI | $180,616 | $226,356 |
Pks Kids Green Bay, WI | $110,839 | $0 |
Westyns Light Colgate, WI | $26,493 | $0 |
Megan Hoogeveen Memorial Foundation Inc Pella, IA | $6,796 | $0 |
Real Estate Riders Mahtomedi, MN | $7,697 | $9,200 |
Radler Foundation For Innovation And Education Inc Greenfield, WI | $314,744 | $306,688 |
Robinow Syndrome Foundation Anoka, MN | $14,099 | $0 |