Institute For Protein Innovation Inc
- Assets
- $201.9m
- Revenue
- $4.6m
- Investments
- $3.3m
- Employees
- 54
- Location
- Boston, MA
- Founding
- 02/2017
- Data as of
- 06/2024
- EIN
- 81-3250208
Organization Overview
Institute For Protein Innovation Inc is located in Boston, MA. The organization was established in 2017. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 06/2024, Institute For Protein Innovation Inc employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Protein Innovation 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 06/2024, Institute For Protein Innovation Inc generated $4.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $14.6m during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE PROTEIN SCIENCE TO ACCELERATE RESEARCH AND IMPROVE HUMAN HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE PROVIDES ACADEMIA AND INDUSTRY WITH SYNTHETIC ANTIBODIES AND DEEP PROTEIN EXPERTISE IN CONJUNCTION WITH BOSTON CHILDREN'S HOSPITAL AND OTHER ACADEMIC AND INDUSTRY PARTNERS. SINCE INCEPTION, THE INSTITUTE HAS PRODUCED AND CHARACTERIZED THOUSANDS OF SYNTHETIC RECOMBINANT ANTIBODIES AGAINST HUNDREDS OF PROTEIN TARGETS VIA ITS HIGH-THROUGHPUT ANTIBODY DISCOVERY PLATFORM. THE INSTITUTE IS COLLABORATING WITH RESEARCHERS IN INDUSTRY AND ACADEMIA TO USE THESE ANTIBODIES TO ACCELERATE RESEARCH AND ENABLE RESEARCH ON NEW THERAPEUTICS THAT IMPROVE HUMAN HEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Fasman President & Ceo/director | OfficerTrustee | 40 | $523,681 |
Samantha Singer Chair | OfficerTrustee | 1 | $0 |
Michael O'hara Treasurer | OfficerTrustee | 1 | $0 |
Dr Timothy A Springer Co-Founder/director | Trustee | 1 | $0 |
Dr Steven C Almo Director | Trustee | 1 | $0 |
Dr Jeffrey Flier Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wittkieffer Inc Recruitment Agency | 6/29/24 | $201,015 |
Hutchison Pllc Legal Services | 6/29/24 | $180,112 |
Crj Inc Cfo Accounting Services | 6/29/24 | $153,913 |
Danforth Advisors Hr And Finance Consulting | 6/29/24 | $143,344 |
Ssi (Us) Inc Spencer Stuart Recruitment Agency | 6/29/24 | $137,805 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $135,370 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,701 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $156,071 |
| Total Program Service Revenue | $42,841 |
| Investment income | $5,291,607 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$842,590 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,647,929 |
| 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. | $995,689 |
| Compensation of current officers, directors, key employees. | $995,689 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,237,840 |
| Pension plan accruals and contributions | $268,803 |
| Other employee benefits | $738,617 |
| Payroll taxes | $406,785 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $359,769 |
| Fees for services: Accounting | $94,868 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $327,525 |
| Fees for services: Other | $440,030 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,730,712 |
| Travel | $0 |
| 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 | $856,236 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $14,602,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $455,833 |
| Savings and temporary cash investments | $1,598,098 |
| Pledges and grants receivable | $18,263 |
| Accounts receivable, net | $0 |
| 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 | $678,068 |
| Net Land, buildings, and equipment | $3,500,502 |
| Investments—publicly traded securities | $188,859,805 |
| Investments—other securities | $3,323,493 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,465,412 |
| Total assets | $201,899,474 |
| Accounts payable and accrued expenses | $697,598 |
| 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 | $3,588,265 |
| Total liabilities | $4,285,863 |
| Net assets without donor restrictions | $197,613,611 |
| 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 | $201,899,474 |