2022-05-12T15:03:39-05:00 2021-06-30 BKD LLP 1155 Avenue of the Americas 1200 New York NY 10036 990 2020-07-01 464395157 Joan and Irwin Jacobs Technion - Cornell Institute Inc % MICHAEL WEISSMAN JOAN 6072545898 2 West Loop Road New York NY 10044 MICHAEL WEISSMAN TREASURER 6072553790 2022-03-31 true Paul Streeter 999009999 Aaron Shapiro P01333816 2128674000 2020 2022-09-23 18:48:47Z MICHAEL WEISSMAN 2 WEST LOOP ROAD NEW YORK NY 10044 18316542 false X TECH.CORNELL.EDU 2013 NY ADMINISTRATION OF DUAL MASTERS DEGREE PROGRAM AWARDED BY TECHNION-ISRAEL INSTITUTE OF TECHNOLOGY & CORNELL PROVIDE RESEARCH ENVIRONMENT FOR FACULTY, RESEARCHERS, & STUDENTS. 8 8 0 11 0 17530430 3138898 7897788 9585883 -1485211 5586516 4907 5245 23947914 18316542 1720645 2320278 0 0 0 0 0 0 0 13932177 14114106 15652822 16434384 8295092 1882158 158027187 205040861 421035 424904 157606152 204615957 ADMINISTRATION OF DUAL MASTERS DEGREE PROGRAM AWARDED BY TECHNION-ISRAEL INSTITUTE OF TECHNOLOGY AND CORNELL UNIVERSITY. PROVIDE RESEARCH ENVIRONMENT FOR FACULTY, RESEARCHERS, AND STUDENTS. false false 12345515 2320278 9585883 THE JOAN AND IRWIN JACOBS TECHNION-CORNELL INSTITUTE, INC. (JACOBS) WAS FORMED IN APRIL 2013 TO ADMINISTER A DUAL MASTERS DEGREE PROGRAM AWARDED BY TECHNION-ISRAEL INSTITUTE OF TECHNOLOGY (TECHNION) AND CORNELL UNIVERSITY. THE PROGRAM CONDUCTS AND SUPPORTS SCIENTIFIC AND TECHNOLOGICAL RESEARCH, AND ENCOURAGES THE DEVELOPMENT OF THE INDUSTRY. 1141608 JACOBS' RUNWAY PROGRAM IS A UNIQUE PROGRAM THAT GIVES RECENT PHD'S INTERESTED IN ENTREPENEURSHIP IN TECHNOLOGY THE OPPORTUNITY TO DRAW ON THEIR RESEARCH KNOWLEDGE TO LAUNCH NEW VENTURES WITH THE ACADEMIC, PROFESSIONAL, AND NETWORKING SUPPORT FROM JACOBS. 13487123 true true false false false false false false false true true true false true false false true true false false false false false false false false false true false false false false false false false false false false false false false false false false false false false true 0 0 0 false false false false false false false false false false false false X 8 8 false false false false false true true true true false false true false true false true true false NY X MICHAEL WEISSMAN 6072545898 377 PINE TREE ROAD ITHACA NY 14850 X Michael I Kotlikoff Trustee & Provost 2.0 0.0 X X 0 0 0 ODED RABINOVITCH TRUSTEE 2.0 0.0 X 0 0 0 ARIEL ORDA TRUSTEE 2.0 0.0 X 0 0 0 BOAZ GOLANY TRUSTEE 2.0 0.0 X 0 0 0 AVIGDOR GAL TRUSTEE 2.0 0.0 X 0 0 0 Greg Morrisett Trustee 2.0 0.0 X 0 0 0 Simon PM Allen Trustee 2.0 0.0 X 0 0 0 John M Kleinberg Trustee 2.0 0.0 X 0 0 0 Ronald Brachman Director 50.0 0.0 X 0 0 0 John Siciliano Secretary 2.0 0.0 X 0 0 0 Michael Weissman Treasurer 2.0 0.0 X 0 0 0 0 0 0 0 false false false 0 3138898 3138898 TUITION 611710 7855285 7855285 RESEARCH 611710 1615712 1615712 RUNWAY PROGRAM SERVICES 611710 74627 74627 APPLICATION FEES 611710 40259 40259 9585883 5586516 5586516 0 5245 5245 0 0 0 0 0 0 0 0 0 0 0 0 0 0 18316542 9585883 5591761 2320278 2320278 0 0 0 0 0 0 0 0 0 0 3004 3004 15000 15000 0 0 0 12423229 9961767 2461462 549 522 27 339243 339243 0 3550 3373 177 0 0 15870 15076 794 0 12782 12782 0 0 25352 25352 0 FEES & LICENSES 340289 306259 34030 MISCELLANEOUS 935238 841714 93524 16434384 13487123 2947261 0 0 0 0 0 14254308 10773424 1643516 110676 0 0 0 0 0 0 0 0 23853 0 221901 71527 113486 150374 0 0 126310671 175893399 604366 862439 529200 569420 14547787 16681129 158027187 205040861 421035 424904 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 421035 424904 X 11491053 15185292 146115099 189430665 157606152 204615957 158027187 205040861 1882158 45127647 X false true X true false X 99621301 6701929 9248407 17530429 3138898 136240964 0 0 99621301 6701929 9248407 17530429 3138898 136240964 22236242 114004722 8406643 9099660 6265134 -1485211 5566761 27852987 0 0 164093951 49328809 0.69475 0.72310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 121059862 2831250 48897248 3716069 169072291 122979253 3643750 1202627 6765768 121059862 121045994 1712500 5411741 5190982 122979253 113185852 2154887 11012356 5307101 121045994 6697748 100962500 9365182 3839578 113185852 0.71000 0.29000 true false 221901 71527 150374 150374 CORNELL LT INVESTMENT POOL 169072291 F 169072291 FUNDS HELD AT CORNELL 16681129 16681129 62756416 45127647 1267873 46395520 16360896 1955646 1955646 18316542 15746611 1267873 1267873 14478738 1955646 1955646 16434384 SCHEDULE D, PART X, LINE 2 Management has evaluated their income tax positions under the guidance included in ASC 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements. SCHEDULE D, PART V, LINE 4 JACOBS' ENDOWMENT ASSETS ARE MANAGED BY CORNELL UNIVERSITY. CORNELL'S BOARD OF TRUSTEES HAS OVERSIGHT FOR THE MANAGEMENT OF CORNELL'S ENDOWMENT, IN WHICH JACOBS PARTICIPATES, INCLUDING INVESTMENT POLICY, OBJECTIVES, AND GUIDELINES FOR ASSET ALLOCATION AND ANNUAL DISTRIBUTION. JACOBS WILL USE ITS ENDOWMENT FUNDS TO FURTHER ITS TAX EXEMPT MISSION AS DESCRIBED IN ITS FUNDING AGREEMENT. SCHEDULE D, PART XI, LINE 4B FINANCIAL AID: $1,955,646 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID: $1,955,646 true Cornell University 341 Pine Tree Road Ithaca NY 14850 150532082 501(C)(3) 2320278 Tuition Assistance 1 Schedule I, Part I, Line 2 Jacobs administers the masters and PHD programs while Cornell and Technion jointly determine the selection criteria for grants and awards as they are the degree granting institutions. The Jacobs admission committee determines individual student eligibility for awards, in line with available resources and admission goals. The funding for these grants and awards is then paid to Cornell University, to provide to the individual students admitted into the Jacobs programs. Approximately 109 students received financial aid from Jacobs through this process. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD CONSISTS OF FOUR DIRECTORS NOMINATED BY EACH UNIVERSITY (CORNELL AND THE TECHNION), ACCORDING TO THE SPECIFICATIONS IN THE BYLAWS. FORM 990, PART VI, SECTION A, LINE 7B GOVERNANCE DECISIONS ARE MADE THROUGH THE BOARD OF DIRECTORS, WHICH ARE ELECTED AND FILLED BY BOTH CORNELL AND TECHNION. ANY DECISIONS CONCERNING THE BUDGET, FINANCIAL STATEMENTS, AND AUDIT ARE APPROVED BY THE FINANCE AND AUDIT SUBCOMMITTEE, WHICH CONSISTS OF THE JACOB'S DIRECTOR AND BOARD TREASURER, IN ADDITION TO MEMBERS OUTSIDE OF THE GOVERNING BODY WHICH INCLUDES CORNELL UNIVERSITY'S CFO, CORNELL TECH'S CHIEF ADMINISTRATIVE OFFICER, AND TECHNION'S VP FOR FINANCE AND ADMINISTRATION. THE JACOBS STEERING COMMITTEE WAS CREATED TO PROVIDE SUPPORT AND STRATEGIC GUIDANCE TO THE JACOBS DIRECTOR AND THE JACOBS BOARD OF DIRECTORS IN JACOBS EDUCATIONAL, RESEARCH, AND INNOVATION ACTIVITIES. CANDIDATES FOR MEMBERSHIP WILL BE RECOMMENDED AND APPROVED BY THE JACOBS DIRECTOR, MEMBERS OF THE JACOBS BOARD OF DIRECTORS, AND BY THE PRESIDENTS OF CORNELL UNIVERSITY AND THE TECHNION, THE LATTER NOT BEING MEMBERS OF THE JACOBS BOARD OF DIRECTORS AND GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WAS REVIEWED BY BOTH THE JACOBS DIRECTOR AND THE BOARD OF DIRECTORS. ANY QUESTIONS ON THE RETURN ARE BROUGHT UP TO AND DISCUSSED WITH THE PREPARER. ONCE THE 990 IS AGREED UPON, THE PREPARER GETS APPROVAL TO FILE. FORM 990, PART VI, SECTION B, LINE 12C JACOBS FOLLOWS THE CONFLICT OF INTEREST POLICIES OF CORNELL UNIVERSITY. UNDER CORNELL UNIVERSITY'S CONFLICT OF INTEREST POLICY, OFFICERS, DIRECTORS, AND OTHER KEY EMPLOYEES AND FACULTY MEMBERS MUST FILE AN ANNUAL CONFLICT OF INTEREST STATEMENT. ANY CONFLICT IDENTIFIED IS REPORTED TO THE JACOBS BOARD. THIS PROCEDURE IS DESIGNED TO HELP ENSURE THAT SUCH TRANSACTIONS ARE SUBJECT TO ADDITIONAL REVIEW AND AUTHORIZATION. ANY MEMBER OF THE JACOSB BOARD, AN OFFICER OF THE CORPORATION, OR OTHER SENIOR ADMINISTRATOR MUST REPORT ANNUALLY, IN WRITING, ANY EXTERNAL INTERESTS, OR THOSE OF A FAMILY MEMBER OR ASSOCIATE, TO THE JACOBS BOARD. THE JACOBS BOARD WILL THEN DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS AND HOW JACOBS SHOULD BEST MANAGE THE CONFLICT OF INTEREST. AN INDIVIDUAL IS CONSIDERED TO HAVE A CONFLICT OF INTEREST WHEN HE OR SHE, A MEMBER OF HIS OR HER FAMILY, OR AN ASSOCIATE (TO HIS OR HER PRESENT KNOWLEDGE) EITHER: (1) HAS AN EXISTING OR POTENTIAL SIGNIFICANT FINANCIAL INTEREST OR OTHER MATERIAL INTEREST OR RELATIONSHIP THAT IMPAIRS OR MIGHT APPEAR TO IMPAIR THE INDIVIDUAL'S INDEPENDENCE AND OBJECTIVITY IN THE DISCHARGE OF HIS OR HER RESPONSIBILITIES TO JACOBS; OR (2) MAY RECEIVE A FINANCIAL OR OTHER MATERIAL BENEFIT FROM INFORMATION CONFIDENTIAL TO JACOBS. TYPICALLY, A CONFLICT OF INTEREST MAY ARISE WHEN AN INDIVIDUAL HAS THE OPPORTUNITY TO INFLUENCE JACOB'S BUSINESS, ADMINISTRATIVE, ACADEMIC, OR OTHER DECISIONS IN WAYS THAT COULD LEAD TO PERSONAL GAIN OR ADVANTAGE OF ANY KIND. UPON FULL REPORTING, JACOBS MAY APPROVE A TRANSACTION OR AFFILIATION, PROVIDED THAT THE CONFLICT CAN BE MANAGED. IN MANY CASES, THE CONFLICT CAN BE MANAGED THROUGH DISCLOSURE. IN SOME CASES, THE INDIVIDUAL MAY BE REQUIRED TO REPORT ON THE CONFLICT ANNUALLY. JACOBS WILL DISAPPROVE THE TRANSACTION OR AFFILIATION IF A CONFLICT OF INTEREST IS INVOLVED THAT CANNOT BE MANAGED. FORM 990, PART VI, SECTION B, LINE 15A JACOBS DOES NOT HAVE ANY EMPLOYEES, BUT RATHER THEY ARE EMPLOYED THROUGH CORNELL UNIVERSITY. ALL COMPENSATION CONCERNS FOR THE JACOBS DIRECTOR AND OTHER TOP MANAGEMENT GOES THROUGH THE AUTHORIZATION PROCEDURES ESTABLISHED BY CORNELL UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15B JACOBS DOES NOT HAVE ANY EMPLOYEES, BUT RATHER THEY ARE EMPLOYED THROUGH CORNELL UNIVERSITY. ALL COMPENSATION CONCERNS FOR THE JACOBS DIRECTOR AND OTHER TOP MANAGEMENT GOES THROUGH THE AUTHORIZATION PROCEDURES ESTABLISHED BY CORNELL UNIVERSITY. FORM 990, PART VI, SECTION C, LINE 19 AS NOTED ABOVE, JACOBS FOLLOWS THE CORNELL UNIVERSITY CONFLICT OF INTEREST, WHISTLEBLOWER, AND DOCUMENT RETENTION AND DESTRUCTION POLICIES. THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC THROUGH THE CORNELL UNIVERSITY WEBSITE (WWW.CORNELL.EDU) THE JACOBS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE NOT YET AVAILABLE ON THE INTERNET; HOWEVER, THEY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 PART IX LINE 11G DESCRIPTION:PERSONNEL COSTS FROM CORNELL TOTAL FEES:5070384 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER SERVICES FROM CORNELL TOTAL FEES:7348463 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER PROFESSIONAL SERVICES TOTAL FEES:4382