2023-07-26T15:31:49-05:00 2022-12-31 161600045 SZYMKOWIAK & ASSOCIATES CPAS PC 6325 MAIN STREET SUITE 100 WILLIAMSVILLE NY 14221 990 2022-01-01 263085485 THE JACOBS INSTITUTE INC JACO 7168884800 875 ELLICOTT STREET 5TH FLOOR BUFFALO NY 14203 TIMOTHY M KORN VP OF FINANCE 7162075195 2023-07-17 1 TIMOTHY KORN 999009999 0 MARIA T SCAROZZA P01240837 7166262626 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ADNAN H SIDDIQUI 875 ELLICOTT STREET 5TH FLOOR BUFFALO NY 14203 12864398 0 X WWW.JACOBSINSTITUTE.ORG X 2008 NY 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. 9 9 60 0 0 0 2211360 4031854 8160749 8592681 0 0 15687 239863 10387796 12864398 0 0 0 0 3954320 5519348 0 0 193885 6232432 6410728 10186752 11930076 201044 934322 6391620 7681956 3952890 4308904 2438730 3373052 X REFER TO SCHEDULE O.REFER TO DESCRIPTION FOR FORM 990, PART I, LINE 1 LISTED ABOVE. 0 0 7811236 8592681 INVESTIGATION AND DUE DILIGENCE RELATED TO IMPLEMENTATION OF ALL ACTIVITIES ON SCHEDULE O. 7811236 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 0 0 0 0 1 1 0 0 0 1 99 0 1 60 1 0 0 0 0 0 0 0 0 0 0 X 9 9 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X TIMOTHY KORN 7163367067 875 ELLICOTT STREET 5TH FLOOR BUFFALO NY 14203 JEREMY M JACOBS CHAIRMAN 0.50 X X 0 0 0 WILLIAM G GISEL JR DIRECTOR 0.50 X 0 0 0 GERALD S LIPPES DIRECTOR 0.50 X 0 0 0 JEREMY M JACOBS JR DIRECTOR 0.50 X X 0 0 0 SATISH K TRIPATHI PHD DIRECTOR 0.50 X 0 0 0 BRUCE W MOSKOWITZ MD DIRECTOR 0.50 X 0 0 0 DONALD BOYD DIRECTOR 0.50 X 0 0 0 ROBERT T BRADY DIRECTOR 0.50 X 0 0 0 RENE F JONES DIRECTOR 0.50 X 0 0 0 ADNAN H SIDDIQUI MD CEO & PRESIDENT 40.00 X 750000 0 0 MICHAEL SPRINGER COO 40.00 X 229487 0 0 TIMOTHY KORN VP OF FINANCE (FROM 4/22) 40.00 X 112256 0 10926 DANIEL J ZIMMER TREASURER 3.00 X 0 0 0 L NELSON HOPKINS MD CHIEF SCIENCE OFFICER 0.50 X 0 0 0 MICHAEL MCCABE ESQ ASSISTANT SECRETARY 0.50 X 0 0 0 THOMAS R BEECHER JR SECRETARY 0.50 X 0 0 0 CARLOS PENA CHIEF REGULATORY OFF./CHIE 40.00 X 333804 0 32625 RICHARD W DUCHARME VP OF ENGINEERING 40.00 X 182579 0 17154 PAMELA MARCUCCI VP OF PROGRAMS 40.00 X 156229 0 22254 ADAM SPARKS ENGINEERING MANAGER 40.00 X 139507 0 20941 PAUL H DRESSEL EMPLOYEE 40.00 X 124000 0 19759 2027862 0 123659 8 0 1 0 NURCON INC 82 PENHURST PARK BUFFALO NY 14222 CONSULTING 300000 ATTENSIONSPAN MEDIA LLC 9 EAST STREET 2ND FL BOSTON MA 02111 AGENCY SERVICES 275000 LIPPES MATHIAS WEXLER FRIEDMAN LLP 50 FOUNTAIN PLAZA STE 1700 BUFFALO NY 14202 LEGAL FEES 254336 HOTEL TERRA 3335 WEST VILLAGE DRIVE TETON VILLAGE WY 83025 LODGING AND CONFERENCE SERVICES 138246 4 1400000 2631854 432014 4031854 REGULATORY SERVICE REVENUE 900099 1985124 1985124 TRAINING AND MEDIA PRODUCTION SER 900099 1626948 1626948 PRODUCT TESTING SERVICES 900099 1428668 1428668 CONFERENCE REVENUE 900099 1097228 1097228 MODEL DESIGN, DEVELOPMENT & MANUF 900099 1067200 1067200 1387513 1387513 8592681 OTHER INCOME 900099 239863 239863 239863 12864398 8832544 0 0 1764355 654028 1110327 2986427 2078953 854278 53196 381436 276403 104226 807 387130 240939 141041 5150 107279 60985 46294 193785 193785 563318 21821 517441 24056 13622 13622 184068 127721 56347 678910 558500 114004 6406 489943 441772 48171 63987 63987 OFFICE AND LAB SUPPLIES 1494060 1447644 46403 13 CONSULTING AND OTHER PR 1096648 1096648 0 0 FUTURE OF HEALTH 550100 550100 COMPUTER AND SOFTWARE E 290448 135171 155077 200 684560 120551 459952 104057 11930076 7811236 3924955 193885 2237256 950267 40000 20000 2506206 2097430 254637 488576 7302028 5330652 1293521 1971376 200132 60000 1954175 6391620 7681956 2551477 2498288 1401413 1810616 3952890 4308904 X 1832453 2263359 606277 1109693 2438730 3373052 6391620 7681956 934322 0 X 0 1 X 1 0 X 3456341 2620661 3252494 2211360 4031854 15572710 3456341 2620661 3252494 2211360 4031854 15572710 1066279 14506431 256 256 23476 9696 177597 15687 239863 466319 16039285 29627824 0.90440 0.92090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7302028 5330652 1971376 1971376 GRANT RECEIVABLE 1400000 OPERATING LEASE RIGHT-OF-USE ASSET 554175 1954175 OPERATING LEASE LIABILITY 1626738 CURRENT PORTION OF OPERATING LEASE LIABILITY 183878 1810616 X 12864398 0 12864398 0 12864398 11930076 0 11930076 0 11930076 PART X, LINE 2: THE INSTITUTE IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE IRC, AND IS NOT CONSIDERED A PRIVATE FOUNDATION. JI ECONOMIC DEVELOPMENT INC. (JEDI) IS A DELAWARE CORPORATION THAT IS TAXABLE AS A C CORPORATION UNDER THE IRC. ALTHOUGH JEDI IS CONSOLIDATED WITH THE INSTITUTE UNDER U.S. GAAP, JEDI IS TAXED SEPARATELY AND ITS FINANCIAL PERFORMANCE IS NOT CONSOLIDATED WITH THE TAX RETURNS THAT ARE FILED BY THE INSTITUTE WITH THE INTERNAL REVENUE SERVICE (IRS) AND THE STATE OF NEW YORK. JEDI FILES ITS OWN TAX RETURN WITH THE IRS AND THE STATE OF NEW YORK. JEDI HAD NO OPERATIONS IN 2022 OR 2021, AND AS A RESULT HAD NO TAX LIABILITIES FOR 2022 OR 2021. ACCORDINGLY, THE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A LIABILITY OR PROVISION FOR INCOME TAXES. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS. THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. X 0 0 0 0 0 0 0 0 0 ADNAN H SIDDIQUI MD CEO & PRESIDENT 750000 0 0 0 0 0 0 0 0 0 750000 0 0 0 CARLOS PENA CHIEF REGULATORY OFF./CHIE 305304 0 28500 0 0 0 12231 0 20394 0 366429 0 0 0 MICHAEL SPRINGER COO 209238 0 20249 0 0 0 0 0 0 0 229487 0 0 0 RICHARD W DUCHARME VP OF ENGINEERING 160794 0 21785 0 0 0 8481 0 8673 0 199733 0 0 0 PAMELA MARCUCCI VP OF PROGRAMS 137588 0 18641 0 0 0 0 0 22254 0 178483 0 0 0 ADAM SPARKS ENGINEERING MANAGER 128971 0 10536 0 0 0 6488 0 14453 0 160448 0 0 0 GERALD S LIPPES DIRECTOR 254336 LEGAL SERVICES 0 SATISH K TRIPATHI DIRECTOR 987457 RENT AND OTHER SERVICES 0 L NELSON HOPKINS CHIEF SCIENCE OFFICER 300000 CONSULTING 0 SCH L, PART IV NAME OF PERSON: GERALD S. LIPPESDESCRIPTION OF TRANSACTION: JACOBS INSTITUTE PAID $254,336 IN LEGAL SERVICES DURING THE YEAR ENDED DECEMBER 31, 2022 TO AN ENTITY AFFILIATED WITH GERALD S. LIPPES.NAME OF PERSON: SATISH K. TRIPATHIDESCRIPTION OF TRANSACTION: THE JACOBS INSTITUTE ALSO PAID $987,457 FOR CONSULTING SERVICES, LAB SUPPLIES AND SERVICES, RESEARCH EXPENSES, TELEPHONE, AND INTERNET TO ENTITIES AFFILIATED WITH THE UNIVERSITY AT BUFFALO. SATISH K. TRIPATHI IS THE CURRENT PRESIDENT OF THE UNIVERSITY AT BUFFALO.NAME OF PERSON: L. NELSON HOPKINSDESCRIPTION OF TRANSACTION: JACOBS INSTITUTE PAID $300,000 IN CONSULTING SERVICES DURING THE YEAR ENDED DECEMBER 31, 2022 TO AN ENTITY AFFILIATED WITH L. NELSON HOPKINS. X NOVASIGNAL 0 331258 X STRATASYS 0 80000 X INTEGRA 0 20756 0 1 0 FORM 990, PART III, LINE 4A BY CONDUCTING THE PROGRAM SERVICES LISTED BELOW, THE JACOBS INSTITUTE HOPES TO CREATE "COLLISIONS" OF IDEAS BETWEEN ACADEMICS, RESEARCHERS AND CLINICIANS TO PROMOTE CLINICAL CARE, ACADEMIC RESEARCH AND ENTREPRENEURIAL ("CARE") EXCELLENCE IN THE TREATMENT OF GLOBAL VASCULAR DISEASE AND RELATED NEUROLOGICAL DISEASES WITH THE ULTIMATE GOAL THAT THESE "COLLISIONS" WILL LEAD TO IMPROVED TREATMENT OF, AND NEW AND IMPROVED TECHNOLOGY AND INNOVATIONS RELATED TO, GLOBAL VASCULAR DISEASE AND RELATED NEUROLOGICAL DISEASES THAT MAY NOT OTHERWISE ATTRACT SUFFICIENT FUNDING IN WESTERN NEW YORK. RESEARCH/ADVANCEMENTS-PROVIDE STAFFING AND RESEARCH SUPPORT TO ACADEMICS, RESEARCHERS AND CLINICIANS AT: (1) THE STATE UNIVERSITY OF NEW YORK, UNIVERSITY AT BUFFALO ("UNIVERSITY AT BUFFALO"), A 501(C)(3) ORGANIZATION; (2) KALEIDA HEALTH (THE LARGEST HOSPITAL NETWORK IN WESTERN NEW YORK), A 501(C)(3) ORGANIZATION; AND (3) OTHER SIMILAR HEALTH-RELATED 501(C)(3) ORGANIZATIONS SELECTED BY THE MANAGEMENT OF THE JACOBS INSTITUTE; IN ORDER TO FACILITATE THE DEVELOPMENT BY SUCH ORGANIZATION OF: (A) ADVANCEMENTS IN THE TREATMENT OF GLOBAL VASCULAR DISEASE AND RELATED NEUROLOGICAL DISEASE; AND (B) CUTTING EDGE TECHNOLOGIES AND OTHER INFORMATION FOR THE IMPROVEMENT OF SUCH TREATMENT. TRAINING AND MEDIA PRODUCTION: ATTRACT, RECRUIT AND RETAIN WORLD CLASS CLINICAL RESEARCH AND ACADEMIC EXPERTS IN THE AREA OF GLOBAL VASCULAR AND NEUROLOGICAL DISEASES. THESE PROGRAMS PROVIDE ADVANCED CLINICAL PHYSICIAN TRAINING SHOWCASING ENDOVASCULAR SIMULATION, BIO SKILLS LABS, CADAVERIC SPECIMENS, ANIMATE MODELS, AND LIVE SURGICAL OBSERVATIONS. THESE FIRST-HAND EXPERIENTIAL TRAINING PROGRAMS ACCOMMODATE UP TO 30 PARTICIPANTS AND ARE BOTH ON-SITE AND VIRTUAL. ENGINEERING SERVICES (PRODUCT TESTING, DESIGN VALIDATION SERVICES, GOOD LABORATORY PRACTICES AND MODEL DESIGN) : OFFERS TURNKEY MEDICAL DEVICE DEVELOPMENT SOLUTIONS IN AREAS SUCH AS: PRE-CLINICAL DEVICE TESTING (CADAVERIC, SIMULATION, 3D PRINTED PATIENT-SPECIFIC CUSTOMIZABLE MODELS AND ANIMATE MODELS); PRELIMINARY USER NEEDS AND REQUIREMENT DEVELOPMENT AND VERIFICATION; COMPUTATIONAL RESEARCH, DESIGN AND DEVELOPMENT; AND FAILURE MODE EFFECTS ANALYSIS. IDEA TO REALITY CENTER (I2R) - THE I2R IS FOCUSED ON DEVELOPING NOVEL, SMART-ENGINEERED ENDOVASCULAR MEDICAL DEVICES AT A FASTER PACE AND IN A MORE COST-EFFECTIVE WAY, GETTING THEM TO PATIENTS SOONER. THE I2R CREATES DEVICES DESIGNED BY OR WITH THE PHYSICIANS WHO USE THEM. PHYSICIANS ARE ON-SITE AND AVAILABLE TO I2R ENGINEERS SO THAT OUR ENGINEERING TEAM CAN QUICKLY PROTOTYPE AND VALIDATE POTENTIAL DEVICES. OUR UNIQUE MEDICAL DEVICE DEVELOPMENT MODEL STREAMLINES THE PROOF-OF-CONCEPT PROCESS. CONFERENCES - ARE DEDICATED TO THE PRINCIPLE THAT HONEST OBJECTIVE ASSESSMENT OF FAILURES OF JUDGMENT, EQUIPMENT, AND TECHNIQUE CAN LEAD TO IMPROVED RESULTS IN MEDICAL TREATMENTS. THESE MEETINGS AND SEMINARS SEEK TO IMPROVE PATIENT CARE AND SAFETY, USING FAILURE ANALYSIS, ASSESSMENT OF PROCEDURAL SAFETY AND OTHER QUALITY ASSESSMENT TECHNIQUES. THESE FORUMS ALSO PROVIDE IN DEPTH DISCUSSION IN A PEER-REVIEW CONFIDENTIAL ENVIRONMENT. REGULATORY SERVICES - PROVIDING EXPERTISE AND CONSULTING SERVICES IN DETERMINING HIGH-LEVEL STRATEGIES FOR: (1) MOVING MEDICAL DEVICES TO THE U.S. MARKETPLACE; (2) PREPARING FOR A U.S. FOOD & DRUG ADMINISTRATION SUBMISSION; AND (3) CONDUCTING AN ASSESSMENT OF EARLY FEASIBILITY OF INITIATING A DEVICE STUDY IN THE U.S. FORM 990, PART VI, SECTION A, LINE 2 BOARD OF DIRECTORS HAVE BUSINESS RELATIONSHIPS WITH EACH OTHER IN THE NORMAL COURSE OF BUSINESS. FORM 990, PART VI, SECTION B, LINE 11B DRAFT COPIES OF THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS ARE REVIEWED BY THE JACOBS INSTITUTE'S AUDIT AND COMPLIANCE COMMITTEE. FOLLOWING ITS FINALIZATION, THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS ARE DISTRIBUTED TO THE BOARD OF DIRECTORS. DRAFT COPIES OF THE 990 ARE REVIEWED PRIOR TO ITS FILING BY THE JACOBS INSTITUTE'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C PRIOR TO THE BOARD OF DIRECTORS ANNUAL MEETING, A MEMORANDUM FROM THE JACOBS INSTITUTE, WHICH INCLUDES THE CONFLICT OF INTEREST POLICY, ALONG WITH A QUESTIONNAIRE, IS DISTRIBUTED TO THE BOARD OF DIRECTORS TO BE FILLED OUT AND COLLECTED BY THE SECRETARY. THE POLICY AND QUESTIONNAIRE ARE ALSO DISTRIBUTED TO JACOBS INSTITUTE EMPLOYEES AT THE SAME TIME, TO BE RETURNED TO THE COO. THE ANSWERS ARE COMPILED AND DISTRIBUTED TO THE BOARD OF DIRECTORS AT THE FOLLOWING BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF OFFICERS AND EMPLOYEES ARE REVIEWED BY INDEPENDENT PERSONS, AND FROM TIME TO TIME COMPARABILITY DATA IS USED TO HELP DETERMINE THE APPROPRIATENESS OF PROPOSED COMPENSATION LEVELS. TO DATE, THE PROCESS HAS INCLUDED DISCUSSIONS AMONG SENIOR MANAGEMENT (EXCLUDING ANYONE WITH A POTENTIAL CONFLICT OF INTEREST) FOLLOWED BY A DECISION TO SET COMPENSATION LEVELS. SALARY BENCHMARKING HAS ALSO BEEN USED IN CERTAIN CASES TO ESTABLISH OR SUBSTANTIATE APPROPRIATE SALARY LEVELS. FORM 990, PART VI, SECTION C, LINE 19 NO DOCUMENTS WERE MADE AVAILABLE TO THE PUBLIC DURING THE TAX YEAR. JI ECONOMIC DEVELOPMENT INITIATIVES INC 875 ELLICOTT ST FL 5TH BUFFALO NY 14203 863712817 IDEA TO REALITY INNOVATION AND INCUBATION PROGRAM NY THE JACOBS INSTITUTE INC C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0