Jacobs Institute Inc
- Assets
- $7.4m
- Revenue
- $12.5m
- Investments
- $479.2k
- Employees
- 46
- Location
- Buffalo, NY
- Founding
- 07/2010
- Data as of
- 12/2023
- 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 12/2023, Jacobs Institute Inc employed 46 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 12/2023, Jacobs Institute Inc generated $12.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $13.1m during the year ending 12/2023. While expenses have increased by 14.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
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 |
|---|---|---|---|
Jeremy M Jacobs Director | OfficerTrustee | 0.5 | $0 |
William G Gisel Jr Director | Trustee | 0.5 | $0 |
Gerald S Lippes Director | Trustee | 0.5 | $0 |
Jeremy M Jacobs Jr Chairman | OfficerTrustee | 0.5 | $0 |
Satish K Tripathi PHD Director | Trustee | 0.5 | $0 |
Bruce W Moskowitz MD Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Attention Span Media Llc Agency Services | 12/30/23 | $275,000 |
Lippes Mathias Wexler Friedman Llp Legal Fees | 12/30/23 | $261,113 |
Buffalo 2020 Development Corporation Rent | 12/30/23 | $240,000 |
Kevin F Macdonald Consulting Services | 12/30/23 | $156,300 |
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 | $2,149,155 |
| Noncash contributions included in lines 1a–1f | $1,008,613 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,149,155 |
| Total Program Service Revenue | $9,963,927 |
| Investment income | $6,129 |
| 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 | $12,546,764 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $246,173 |
| 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. | $1,558,054 |
| Compensation of current officers, directors, key employees. | $905,225 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,124,236 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $502,101 |
| Payroll taxes | $406,369 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $301,344 |
| Fees for services: Accounting | $34,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,629,674 |
| Advertising and promotion | $16,247 |
| Office expenses | $120,941 |
| Information technology | $365,059 |
| Royalties | $0 |
| Occupancy | $322,835 |
| Travel | $707,174 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,639 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $551,406 |
| Insurance | $69,344 |
| All other expenses | $12,826 |
| Total functional expenses | $13,073,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,660,304 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $446,771 |
| Accounts receivable, net | $1,797,455 |
| 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 | $710,312 |
| Net Land, buildings, and equipment | $2,309,368 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $479,166 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,403,376 |
| Accounts payable and accrued expenses | $2,438,503 |
| Grants payable | $0 |
| Deferred revenue | $492,023 |
| 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 | $1,626,739 |
| Total liabilities | $4,557,265 |
| Net assets without donor restrictions | $1,884,607 |
| Net assets with donor restrictions | $961,504 |
| 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 | $7,403,376 |