Igem Foundation Inc
- Assets
- $2.0m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 13
- Location
- Cambridge, MA
- Founding
- 09/2013
- Data as of
- 12/2022
- EIN
- 45-2313408
Organization Overview
Igem Foundation Inc is located in Cambridge, MA. The organization was established in 2013. According to its NTEE Classification (U03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Science & Technology and related organizations. As of 12/2022, Igem Foundation Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Igem Foundation 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 12/2022, Igem Foundation Inc generated $5.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $7.4m during the year ending 12/2022. While expenses have increased by 11.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE INTERNATIONAL GENETICALLY ENGINEERED MACHINE (IGEM) FOUNDATION IS DEDICATED TO EDUCATION AND COMPETITION, ADVANCEMENT OF SYNTHETIC BIOLOGY, AND THE DEVELOPMENT OF OPEN COMMUNITY AND COLLABORATION. THE IGEM FOUNDATION FOSTERS SCIENTIFIC RESEARCH AND EDUCATION THROUGH ORGANIZING AND OPERATING THE IGEM COMPETITION, THE PREMIER STUDENT SYNTHETIC BIOLOGY COMPETITION. IT ALSO FOSTERS SCIENTIFIC RESEARCH AND EDUCATION BY ESTABLISHING AND OPERATING THE REGISTRY OF STANDARD BIOLOGICAL PARTS, A COMMUNITY COLLECTION OF BIOLOGICAL COMPONENTS. THE ORGANIZATION PROMOTES THE ADVANCEMENT OF SCIENCE AND EDUCATION BY DEVELOPING AN OPEN COMMUNITY OF STUDENTS AND PRACTITIONERS IN SCHOOLS, LABORATORIES, RESEARCH INSTITUTES, AND INDUSTRY. THE IGEM COMMUNITY HAS A LONG HISTORY OF INVOLVING STUDENTS AND THE PUBLIC IN THE DEVELOPMENT OF THE NEW FIELD OF SYNTHETIC BIOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
- FOSTERS SCIENTIFIC RESEARCH AND EDUCATION THROUGH ORGANIZING AND OPERATING THE IGEM COMPETITION, THE PREMIER STUDENT SYNTHETIC BIOLOGY COMPETITION;- FOSTERS SCIENTIFIC RESEARCH AND EDUCATION BY ESTABLISHING AND OPERATING THE REGISTRY OF STANDARD BIOLOGICAL PARTS, A COMMUNITY COLLECTION OF BIOLOGICAL COMPONENTS- PROMOTES THE ADVANCEMENT OF SCIENCE AND EDUCATION BY DEVELOPING AN OPEN COMMUNITY OF STUDENTS AND PRACTITIONERS IN SCHOOLS, LABORATORIES, RESEARCH INSTITUTES, AND INDUSTRY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall Rettberg Ceo/president/director | OfficerTrustee | 40 | $236,554 |
Thomas Knight Treasurer/director | Trustee | 1 | $0 |
Pamela Silver Director | Trustee | 1 | $0 |
King Chow Director | Trustee | 1 | $0 |
Richard Johnson Director | Trustee | 1 | $0 |
Drew Endy Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Biosecure Safety & Security | 12/30/22 | $210,667 |
Events Inc Event Management Service | 12/30/22 | $205,944 |
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 | $653,602 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $653,602 |
| Total Program Service Revenue | $4,345,699 |
| Investment income | $17,344 |
| 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 | $5,016,663 |
| 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. | $382,341 |
| Compensation of current officers, directors, key employees. | $93,798 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $506,982 |
| Pension plan accruals and contributions | $20,296 |
| Other employee benefits | $95,112 |
| Payroll taxes | $31,096 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $55,657 |
| Fees for services: Accounting | $73,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $544,666 |
| Advertising and promotion | $806,825 |
| Office expenses | $55,047 |
| Information technology | $136,654 |
| Royalties | $0 |
| Occupancy | $205,028 |
| Travel | $1,204,848 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,647 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,015 |
| Insurance | $14,608 |
| All other expenses | $47,985 |
| Total functional expenses | $7,418,776 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,046,962 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $700,000 |
| Accounts receivable, net | $67,000 |
| 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 | $13,754 |
| Net Land, buildings, and equipment | $40,257 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $153,069 |
| Total assets | $2,021,042 |
| Accounts payable and accrued expenses | $374,090 |
| 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 | $81,961 |
| Total liabilities | $456,051 |
| Net assets without donor restrictions | $123,920 |
| Net assets with donor restrictions | $1,441,071 |
| 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 | $2,021,042 |