Jacobs Institute Inc
- Assets
- $6.4m
- Revenue
- $10.4m
- Investments
- $0.0
- Employees
- 38
- Location
- Buffalo, NY
- Founding
- 07/2010
- Data as of
- 12/2021
- EIN
- 26-3085485
Organization Overview
Jacobs Institute Inc is located in Buffalo, NY. The organization was established in 2010. According to its NTEE Classification (H50) the organization is classified as: Nerve, Muscle & Bone Diseases Research, under the broad grouping of Medical Research and related organizations. As of 12/2021, Jacobs Institute Inc employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jacobs Institute 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 12/2021, Jacobs Institute Inc generated $10.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.9% each year . All expenses for the organization totaled $10.2m during the year ending 12/2021. While expenses have increased by 20.0% per year over the past 7 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
REFER TO SCHEDULE O.THE JACOBS INSTITUTE, INC., LOCATED IN BUFFALO, NEW YORK, WAS FORMED IN 2008 TO ACCOMPLISH THE VISION OF MAKING WESTERN NEW YORK A CENTER FOR WORLD-CLASS EXCELLENCE IN RESEARCH, TEACHING, PUBLIC AWARENESS AND ADVANCES IN CLINICAL AND MINIMALLY-INVASIVE SURGICAL TREATMENT OF GLOBAL VASCULAR DISEASE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INVESTIGATION AND DUE DILIGENCE RELATED TO IMPLEMENTATION OF ALL ACTIVITIES ON SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adnan H Siddiqui MD Chief Med. Off. (& CEO From 4/21) | Officer | 40 | $600,000 |
Carlos Pena Chief Regulatory Off./chief Quality Off | 40 | $285,833 | |
Michael Springer Coo/vp Operations | Officer | 40 | $213,000 |
Richard W Ducharme VP Of Engineering | 40 | $159,562 | |
Pamela Marcucci VP Of Programs | 40 | $139,631 | |
Adam Sparks Engineering Manager | 40 | $126,345 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hotel Terra Lodging, F&b, And Rentals | 12/30/19 | $115,594 |
Lippes Mathias Wexler Friedman Llp Legal Services | 12/30/19 | $105,017 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $852,338 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,359,022 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,211,360 |
| Total Program Service Revenue | $8,160,749 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $10,387,796 |
| 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. | $823,000 |
| Compensation of current officers, directors, key employees. | $620,019 |
| Compensation to disqualified persons | $2,768,434 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $186,518 |
| Other employee benefits | $0 |
| Payroll taxes | $176,368 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $203,542 |
| Fees for services: Accounting | $27,006 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $404,165 |
| Advertising and promotion | $17,984 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $194,798 |
| Travel | $365,653 |
| 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 | $531,033 |
| Insurance | $59,443 |
| All other expenses | $262,878 |
| Total functional expenses | $10,186,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,237,256 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $40,000 |
| Accounts receivable, net | $2,506,206 |
| 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 | $254,637 |
| Net Land, buildings, and equipment | $1,293,521 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,000 |
| Total assets | $6,391,620 |
| Accounts payable and accrued expenses | $2,551,477 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,401,413 |
| Total liabilities | $3,952,890 |
| Net assets without donor restrictions | $1,832,453 |
| Net assets with donor restrictions | $606,277 |
| 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 | $6,391,620 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Jacobs Institute Inc has recieved totaling $930,047.
| Awarding Organization | Amount |
|---|---|
Scott Bieler Foundation Inc Orchard Park, NY PURPOSE: DONATION | $250,000 |
Kaleida Health Buffalo, NY PURPOSE: CONTRIBUTION | $200,000 |
James H Cummings Foundation Inc Buffalo, NY PURPOSE: I2R CENTER & THE FUTURE OF VASCULAR MEDICINE | $185,000 |
Foundation 214 Inc Amherst, NY PURPOSE: CHARITABLE | $90,000 |
Foundation 214 Inc Amherst, NY PURPOSE: CHARITABLE | $90,000 |
Community Foundation For Greater Buffalo Inc Buffalo, NY PURPOSE: PROPOSAL FUNDING; IN HONOR OF | $55,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christopher Reeve Foundation A New Jersey Nonprofit Corporation Short Hills, NJ | $8,265,891 | $16,839,665 |
Childrens Tumor Foundation New York, NY | $29,600,801 | $16,779,578 |
Jacobs Institute Inc Buffalo, NY | $6,391,620 | $10,387,796 |
Ao North America Charitable Fund Wayne, PA | $19,731,276 | $3,259,490 |
Charleys Fund Inc Great Barrington, MA | $5,463,767 | $1,781,625 |
Orthopaedic Foundation For Active Lifestyles Inc Stamford, CT | $3,883,565 | $1,438,636 |
Audre Lorde Project Inc Brooklyn, NY | $3,205,898 | $2,814,295 |
Foundation Of Orthopedics And Complex Spine Inc Garden City, NY | $1,400,092 | $518,962 |
Soft Bones Inc The Us Hypophosphatasia Foundation Boonton, NJ | $714,186 | $603,592 |
American Spinal Research Organization Incorporated Niagara Falls, NY | $1,635 | $244,758 |
Massachusetts Society Of Clinical Onocologists Inc Waltham, MA | $1,146,107 | $245,160 |
International Consensus Meeting On Infection Philadelphia, PA | $1,032,904 | $236,397 |