2022-11-15T07:43:09-06:00 2021-12-31 161600045 SZYMKOWIAK & ASSOCIATES CPAS PC 6325 MAIN STREET SUITE 100 WILLIAMSVILLE NY 14221 990 2021-01-01 263085485 THE JACOBS INSTITUTE INC JACO 7168884800 875 ELLICOTT STREET 5TH FLOOR BUFFALO NY 14203 DANIEL J ZIMMER TREASURER 7168585208 2022-11-08 1 DANIEL ZIMMER 999009999 MARIA T SCAROZZA P01240837 7166262626 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z ADNAN SIDDIQUI 875 ELLICOTT STREET 5TH FLOOR BUFFALO NY 14203 10387796 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. 8 8 38 0 0 0 3254947 2211360 4095851 8160749 0 0 177596 15687 7528394 10387796 0 0 0 0 3498537 3954320 0 0 92171 3930365 6232432 7428902 10186752 99492 201044 5794450 6391620 3556764 3952890 2237686 2438730 X REFER TO SCHEDULE O.REFER TO DESCRIPTION FOR FORM 990, PART I, LINE 1 LISTED ABOVE. 0 0 7125668 8160749 INVESTIGATION AND DUE DILIGENCE RELATED TO IMPLEMENTATION OF ALL ACTIVITIES ON SCHEDULE O. 7125668 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 91 0 1 38 1 0 0 0 0 0 0 0 0 0 0 X 8 8 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X TIMOTHY KORN 7168884719 875 ELLICOTT STREET 5TH FLOOR BUFFALO NY 14203 WILLIAM G GISEL JR DIRECTOR 0.50 X 0 0 0 SATISH K TRIPATHI PHD DIRECTOR 0.50 X 0 0 0 ROBERT T BRADY DIRECTOR 0.50 X 0 0 0 ROBERT J NESSELBUSH DIRECTOR 0.50 X 0 0 0 RENE F JONES DIRECTOR 0.50 X 0 0 0 JEREMY M JACOBS CHAIRMAN 0.50 X X 0 0 0 GERALD S LIPPES DIRECTOR 0.50 X 0 0 0 BRUCE W MOSKOWITZ MD DIRECTOR 0.50 X 0 0 0 THOMAS R BEECHER JR SECRETARY 0.50 X 0 0 0 L NELSON HOPKINS MD CHIEF SCIENCE OFFICER 40.00 X 10000 0 1631 DANIEL J ZIMMER TREASURER 3.00 X 0 0 0 ADNAN H SIDDIQUI MD CHIEF MED. OFF. (& CEO FROM 4/21) 40.00 X 600000 0 28406 MICHAEL SPRINGER COO/VP OPERATIONS 40.00 X 213000 0 15585 THOMAS E NEMETH TRAINING DIRECTOR 40.00 X 101587 0 19090 RICHARD W DUCHARME VP OF ENGINEERING 40.00 X 159562 0 21986 PAMELA MARCUCCI VP OF PROGRAMS 40.00 X 139631 0 20420 ADAM SPARKS ENGINEERING MANAGER 40.00 X 126345 0 21287 CARLOS PENA CHIEF REGULATORY OFF./CHIEF QUALITY OFF 40.00 X 285833 0 24095 1635958 0 152500 7 0 1 0 LIPPES MATHIAS WEXLER FRIEDMAN LLP 50 FOUNTAIN PLAZA STE 1700 BUFFALO NY 14202 LEGAL FEES 150455 1 852338 1359022 2211360 DESIGN VALIDATION SERVICES 900099 1875886 1875886 PRODUCT TESTING SERVICES 900099 1641561 1641561 REGULATORY SERVICE REVENUE 900099 1234785 1234785 TRAINING AND MEDIA PRODUCTION SER 900099 1195427 1195427 MODEL DESIGN, DEVELOPMENT & MANUF 900099 997062 997062 1216028 1216028 8160749 OTHER INCOME 900099 15687 15687 15687 10387796 8176436 0 0 823000 202981 620019 2768434 1677801 1021877 68756 186518 148578 34280 3660 176368 169062 7306 203542 56181 147361 27006 27006 404165 1606 401261 1298 17984 17984 194798 160826 33972 365653 301438 62161 2054 531033 490763 40270 59443 59443 OFFICE AND LAB SUPPLIES 2236248 2197821 38427 CONSULTING AND OTHER PR 1495411 1495411 COMPUTER AND SOFTWARE E 247797 123551 119793 4453 OTHER PERSONNEL EXPENSE 186474 183925 2549 262878 99649 161134 2095 10186752 7125668 2968913 92171 2532053 2237256 240000 40000 1027162 2506206 397702 254637 6134230 4840709 1502533 1293521 95000 60000 5794450 6391620 1747539 2551477 363636 1445589 1401413 3556764 3952890 X 1036383 1832453 1201303 606277 2237686 2438730 5794450 6391620 201044 0 X 0 1 X 1 0 X 2956807 3456341 2620661 3252494 2211360 14497663 2956807 3456341 2620661 3252494 2211360 14497663 864499 13633164 780 256 1036 78485 23476 9696 177597 15687 304941 14803640 23842532 0.92090 0.91340 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6134230 4840709 1293521 1293521 DEFERRED LEASE INCENTIVE 19595 DEFERRED RENT 1381818 1401413 X 10387796 0 10387796 0 10387796 10186752 0 10186752 0 10186752 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 INTERNAL REVENUE CODE, AND IS NOT CONSIDERED A PRIVATE FOUNDATION. 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 2021, AND AS A RESULT HAD NO TAX LIABILITY FOR 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; HOWEVER, 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 CHIEF MED. OFF. (& CEO FROM 4/21) 600000 0 0 0 0 0 0 0 0 0 600000 0 0 0 CARLOS PENA CHIEF REGULATORY OFF./CHIEF QUALITY 285833 0 0 0 0 0 0 0 0 0 285833 0 0 0 MICHAEL SPRINGER COO/VP OPERATIONS 213000 0 0 0 0 0 0 0 0 0 213000 0 0 0 RICHARD W DUCHARME VP OF ENGINEERING 159562 0 0 0 0 0 0 0 0 0 159562 0 0 0 GERALD S LIPPES DIRECTOR 150455 LEGAL SERVICES 0 SATISH K TRIPATHI DIRECTOR 2135921 RENT AND OTHER SERVICES 0 SCH L, PART IV NAME OF PERSON: GERALD S. LIPPESDESCRIPTION OF TRANSACTION: JACOBS INSTITUTE PAID $150,455 IN LEGAL SERVICES DURING THE YEAR ENDED DECEMBER 31, 2021 TO AN ENTITY AFFILIATED WITH GERALD S. LIPPES.NAME OF PERSON: SATISH K. TRIPATHIDESCRIPTION OF TRANSACTION: RENT WAS INCURRED IN THE AMOUNT OF $125,825 BY THE JACOBS INSTITUTE, INC FROM ENTITIES AFFILIATED WITH THE UNIVERSITY AT BUFFALO. THE JACOBS INSTITUTE ALSO PAID $2,010,096 FOR CONSULTING SERVICES, LAB SUPPLIES AND SERVICES, RESEARCH EXPENSES, TELEPHONE, INTERNET, WEBSITE, AND COMPUTER EXPENSES TO ENTITIES AFFILIATED WITH THE UNIVERSITY AT BUFFALO. SATISH K. TRIPATHI IS THE PRESIDENT OF THE UNIVERSITY AT BUFFALO. 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. TEACHING - ATTRACT, RECRUIT AND RETAIN WORLD CLASS CLINICAL, RESEARCH AND ACADEMIC EXPERTS IN THE AREA OF GLOBAL VASCULAR DISEASE AND RELATED NEUROLOGICAL DISEASES TO WESTERN NEW YORK: (1) TO BROADEN THE DEPTH OF TEACHING AT THE UNIVERSITY AT BUFFALO JACOBS SCHOOL OF MEDICINE AND BIOMEDICAL SCIENCES ("JACOBS SCHOOL OF MEDICINE") AND MAY, AMONG OTHER THINGS, CREATE ONE OR MORE TEACHING AND/OR ACADEMIC RESEARCH POSITIONS AT THE JACOBS SCHOOL OF MEDICINE OR OTHER 501(C)(3) INSTITUTIONS; AND (2) TO ESTABLISH WESTERN NEW YORK AS THE PRIMARY LOCATION FOR ACADEMIC COLLABORATION IN THE TREATMENT OF GLOBAL VASCULAR DISEASE AND RELATED NEUROLOGICAL DISEASES. PUBLIC AWARENESS - SPONSOR AND COORDINATE PUBLIC HEALTH INITIATIVES RAISING AWARENESS ABOUT VASCULAR DISEASE AND THE NEED FOR IMPROVED TREATMENT OF SUCH DISEASES. PROOF OF CONCEPT OF INNOVATIONS - VET INNOVATIONS IN CLINICAL CARE, ACADEMICS AND RESEARCH, RESULTING IN THE DEVELOPMENT OF NEW RESEARCH, CLINICAL CARE AND SPIN OFF ENTREPRENEURIAL DEVELOPMENTS AND JOBS IN WESTERN NEW YORK. 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/VP OF OPERATIONS. 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