Ibio Institute
- Assets
- $939.3k
- Revenue
- $721.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 03/2004
- Data as of
- 12/2023
- EIN
- 32-0092551
Organization Overview
Ibio Institute is located in Chicago, IL. The organization was established in 2004. According to its NTEE Classification (U30) the organization is classified as: Physical & Earth Sciences, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ibio Institute 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, Ibio Institute generated $721.2k 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 (6.5%) each year. All expenses for the organization totaled $390.5k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (16.6%) per year over the past 8 years. 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 CREATE A GLOBALLY RECOGNIZED BIOTECHNOLOGY CENTER IN CHICAGO AND THE SURROUNDING MIDWEST REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATE - DELIVERS INDUSTRY-LED SCIENCE AND MATH PROGRAMS TO TEACHERS AND STUDENTS, THEREBY CONNECTING CLASSROOMS TO REAL WORLD BIOTECHNOLOGY AND SCIENCE-BASED INDUSTRY AND INSPIRING THE NEXT GENERATION OF INNOVATORS AND HELPING RESTORE AMERICA'S LEADERSHIP IN TECHNOLOGY EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Ducommun Corporate Secretary | OfficerTrustee | 0.5 | $0 |
Blair Komasinski Treasurer | OfficerTrustee | 0.5 | $0 |
Mayebeth Hadfield Past Member At Large | OfficerTrustee | 0.5 | $0 |
Norbert Riedel PHD Member At Large | OfficerTrustee | 0.5 | $0 |
James White Past Member At Large | Trustee | 0.5 | $0 |
John Bathery Director | Trustee | 0.5 | $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 | $561,012 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $561,012 |
| Total Program Service Revenue | $160,215 |
| 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 | $721,227 |
| 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 | $138,827 |
| Pension plan accruals and contributions | $4,165 |
| Other employee benefits | $862 |
| Payroll taxes | $10,731 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $461 |
| Fees for services: Accounting | $19,162 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,636 |
| Advertising and promotion | $2,852 |
| Office expenses | $5,786 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $118,815 |
| Travel | $10,482 |
| 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 | $1,191 |
| Insurance | $12,702 |
| All other expenses | $0 |
| Total functional expenses | $390,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $548,447 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $107 |
| 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 | $1,247 |
| Net Land, buildings, and equipment | $1,890 |
| Investments—publicly traded securities | $2,084 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $385,510 |
| Total assets | $939,285 |
| Accounts payable and accrued expenses | $13,605 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| 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 | $333,268 |
| Total liabilities | $351,873 |
| Net assets without donor restrictions | -$511,172 |
| Net assets with donor restrictions | $1,098,584 |
| 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 | $939,285 |
Grants Awarded
Over the last fiscal year, Ibio Institute has awarded $0 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BBCETC PURPOSE: FUNDING TO SUPPORT CHICAGO INNOVATION MENTORS ENTREPRENEURSHIP PROGRAM. | $0 |
THIRD COAST THERAPEUTICS PURPOSE: PROPEL AWARD PROGRAM | $0 |
EDGE SURGICAL PURPOSE: PROPEL AWARD PROGRAM | $0 |