2021-11-15T08:50:54-06:00 2020-12-31 161600045 SZYMKOWIAK & ASSOCIATES CPAS PC 6325 MAIN STREET SUITE 100 WILLIAMSVILLE NY 14221 990 2020-01-01 263085485 THE JACOBS INSTITUTE INC JACO 7168884800 875 ELLICOTT STREET 5TH FLOOR BUFFALO NY 14203 DANIEL J ZIMMER TREASURER 7168585208 2021-11-09 1 DANIEL ZIMMER 999009999 MARIA T SCAROZZA P01240837 7166262626 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ADNAN SIDDIQUI 875 ELLICOTT STREET 5TH FLOOR BUFFALO NY 14203 7528394 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 39 0 0 0 2620661 3254947 4878830 4095851 0 0 9696 177596 7509187 7528394 0 0 0 0 3345496 3498537 0 0 150052 3967318 3930365 7312814 7428902 196373 99492 4948025 5794450 2809831 3556764 2138194 2237686 X REFER TO SCHEDULE O.REFER TO DESCRIPTION FOR FORM 990, PART I, LINE 1 LISTED ABOVE. 0 0 4558330 4095851 INVESTIGATION AND DUE DILIGENCE RELATED TO IMPLEMENTATION OF ALL ACTIVITIES ON SCHEDULE O. 4558330 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 48 0 1 39 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 MICHAEL SPRINGER 7168884819 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 255000 0 14615 DANIEL J ZIMMER TREASURER 3.00 X 0 0 0 BILL MAGGIO CEO (UNTIL 4/21) 15.00 X 187917 0 22238 ADNAN H SIDDIQUI MD CHIEF MED. OFF. (& CEO FROM 4/21) 40.00 X 637500 0 25129 MICHAEL SPRINGER VP OF TECHNOLOGY AND OPERATIONS 40.00 X 195550 0 14558 RICHARD W DUCHARME DIRECTOR OF R & D 40.00 X 144353 0 21017 PAMELA MARCUCCI AVP OF CORP. DEV. COMM. 40.00 X 130454 0 19409 1550774 0 116966 6 0 1 0 0 772523 2482424 411953 3254947 DESIGN VALIDATION SERV 900099 1731448 1731448 PRODUCT TESTING SERVIC 900099 799809 799809 MODEL DESIGN, DEVELOPM 900099 747352 747352 TRAINING AND MEDIA PRO 900099 648424 648424 INDUSTRY SPONSORED PRO 900099 153508 153508 15310 15310 4095851 OTHER INCOME 900099 177596 177596 177596 7528394 4273447 0 0 1275967 194906 1081061 1844821 1105930 634094 104797 138641 87952 43494 7195 239108 113001 116881 9226 76633 19392 50201 7040 17675 17675 217926 201326 16600 3075 3075 36522 36522 148665 109391 39274 49032 35510 12220 1302 583064 537065 45999 55441 1090 54351 OFFICE AND LAB SUPPLIES 1545063 1531939 13044 80 CONSULTING AND OTHER PR 670383 607675 62708 COMPUTER AND SOFTWARE E 198650 100678 97170 802 REPAIRS AND MAINTENANCE 79631 54890 24741 248605 58911 186684 3010 7428902 4558330 2720520 150052 2264221 2532053 173047 240000 1081425 1027162 126246 397702 5812209 4309676 1303086 1502533 0 95000 4948025 5794450 292182 1091738 2517649 2465026 2809831 3556764 X 1137500 1036383 1000694 1201303 2138194 2237686 4948025 5794450 99492 0 X X 0 1 X 1 0 X 2469660 2956807 3456341 2620661 3252494 14755963 2469660 2956807 3456341 2620661 3252494 14755963 1011119 13744844 964 780 256 2000 78485 23476 9696 177597 289254 15047217 17525573 0.91340 0.89880 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5812209 4309676 1502533 1502533 DEFERRED LEASE INCENTIVE 48984 DEFERRED RENT 1396605 DEFERRED GRANT REVENUE 363636 ACCRUED EXPENSES 304603 OTHER DEFERRED REVENUE 351198 2465026 X 7528394 0 7528394 0 7528394 7428903 0 7428903 0 7428903 PART X, LINE 2: THE ORGANIZATION 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. ACCORDINGLY, THE 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 OR ASSET 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) 637500 0 0 0 0 0 25129 0 0 0 662629 0 0 0 L NELSON HOPKINS MD CHIEF SCIENCE OFFICER 255000 0 0 0 0 0 14615 0 0 0 269615 0 0 0 BILL MAGGIO CEO (UNTIL 4/21) 187917 0 0 0 0 0 22238 0 0 0 210155 0 0 0 MICHAEL SPRINGER VP OF TECHNOLOGY AND OPERATIONS 195550 0 0 0 0 0 14558 0 0 0 210108 0 0 0 RICHARD W DUCHARME DIRECTOR OF R & D 144353 0 0 0 0 0 21017 0 0 0 165370 0 0 0 GERALD S LIPPES DIRECTOR 75343 LEGAL SERVICES 0 SATISH K TRIPATHI DIRECTOR 1497192 RENT AND OTHER SERVICES 0 SCH L, PART IV NAME OF PERSON: GERALD S. LIPPESDESCRIPTION OF TRANSACTION: JACOBS INSTITUTE PAID $75,343 IN LEGAL SERVICES DURING THE YEAR ENDED DECEMBER 31, 2020 TO AN ENTITY AFFILIATED WITH GERALD S. LIPPES.NAME OF PERSON: SATISH K. TRIPATHIDESCRIPTION OF TRANSACTION: RENT WAS INCURRED IN THE AMOUNT OF $104,712 BY THE JACOBS INSTITUTE, INC FROM ENTITIES AFFILIATED WITH THE UNIVERSITY AT BUFFALO. THE JACOBS INSTITUTE ALSO PAID $1,392,480 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. X STRATASYS EQUIPMENT 0 221078 X MENTICE EQUIPMENT 0 190875 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. 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. 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 FINANCIAL STATEMENTS AND THE 990 ARE REVIEWED BY THE JACOBS INSTITUTE'S AUDIT AND RISK MANAGEMENT COMMITTEE. FOLLOWING THEIR FINALIZATION, BOTH FORMS ARE DISTRIBUTED TO THE 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 IS ALSO DISTRIBUTED TO JACOBS INSTITUTE EMPLOYEES AT THE SAME TIME, TO BE RETURNED TO THE V. P. OF TECHNOLOGY AND 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. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT REVIEWS THE FINANCIAL STATEMENTS.