2019-11-14T08:52:59-06:00 2018-12-31 KPMG LLP 345 Park Ave New York NY 101540102 990 2018-01-01 820656623 The Silverstein Foundation for Parkinson's with GBA % JONATHAN T SILVERSTEIN SILV 9175198108 PO BOX 237137 NEW YORK NY 10023 NATALIE SILVERSTEIN vice pres/treasurer 9175198108 2019-11-13 true DAVID M HIGHFILL P01517891 2127589700 2019-11-13 167.68.102.5 13407320193185000019 2019-11-14 P 93284FDDF646EB87F938684DE2A1C682925E78BC A1B6C70BDA82892C91F8FD4CA55C0318FEF7210F 2018 2020-01-14 16:20:31Z JONATHAN SILVERSTEIN PO BOX 237137 NEW YORK NY 10023 661041 false X WWW.silversteinfoundation.org X 2017 NY TO RAISE AWARENESS AROUND PARKINSON'S DISEASE ASSOCIATED WITH GBA MUTATIONS AND RELEVANT CLINICAL TRIALS FOR MUTATION CARRIERS. SEE ALSO PART III AND SCHEDULE O. 3 3 0 3 0 0 6217058 599990 0 0 14642 61051 0 0 6231700 661041 940249 2651807 0 0 0 0 0 0 0 133176 108591 1073425 2760398 5158275 -2099357 5237396 3393950 70485 155000 5166911 3238950 X THE SILVERSTEIN FOUNDATION FOR PARKINSON'S WITH GBA RESEARCH RAISES AWARENESS AROUND PARKINSON'S DISEASE ASSOCIATED WITH GBA MUTATIONS. SEE SCHEDULE O FOR MORE INFORMATION. false false 2651807 2651807 Since the launch of the Silverstein Foundation in March of 2017, it has funded over 30 grants, received donations from over 1000 donors and supported 7 different therapeutic approaches, including autophagy, antisense oligonucleotides, gene therapy, alpha synuclein degraders, glucocerebrosidase activators, substrate reduction therapy, and autologous induced pluripotent stem cells to accelerate research and clinical trials to bring new therapeutic options to patients. SEE SCHEDULE O. 2651807 true true false false false false false false false false false true false false true false true false false false false false false false false false false true false false false false false false false false false false true false false false false false false false false false 1 0 0 false false false false false false false false false X 3 3 true false false false false false false true true false false true false false false false false false NY X JONATHAN T SILVERSTEIN 9175198108 11 RIVERSIDE DRIVE APT PH-W2 NEW YORK NY 10023 X JONATHAN SILVERSTEIN PRESIDENT / SECRETARY 2.0 0.0 X X 0 0 0 NATALIE SILVERSTEIN VICE PRESIDENT / TREASURER 1.0 0.0 X X 0 0 0 GEOFFREY LEVIN BOARD MEMBER 1.0 0.0 X 0 0 0 0 0 0 0 false false false 0 599990 5440 599990 0 61051 61051 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 661041 61051 X 2651807 2651807 0 0 0 0 0 0 0 0 0 0 37299 37299 0 0 0 0 64275 64275 0 0 0 0 0 2292 2292 0 0 0 0 0 0 DUES AND SUBSCRIPTIONS 1548 1548 SERVICE FEE & CHARGES 2475 2475 MERCHANT FEES 702 702 2760398 2651807 108591 0 X 5137263 3116831 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 50133 50119 50000 227000 0 0 0 0 0 0 5237396 3393950 0 5000 0 150000 0 0 0 0 0 0 0 0 0 0 0 0 70485 0 70485 155000 X 5166911 3238950 0 0 0 0 5166911 3238950 5237396 3393950 X -2099357 171396 X false true X false false X 0 0 0 6217058 599990 6817048 0 0 0 0 0 6217058 599990 6817048 5161436 1655612 14642 61051 75693 0 0 6892741 X 0 0 0 X 832437 171396 171396 661041 661041 2760398 2760398 2760398 Schedule D, Part X, Line 2 Uncertain tax positions The Foundation is exempt from federal income tax under Section 501(c)(3). Accounting standards prescribe a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. These standards also provide guidance on de-recognition of tax benefits, classification on the balance sheet, interest and penalties, accounting in interim periods, disclosure, and transition. The Foundation has evaluated any uncertain tax positions and related income tax contingencies and determined uncertain positions, if any, are not material to the financial statements. Penalties and interest assessed by income taxing authorities are included in operating expenses, if incurred. Tax Returns are generally subject to examination by federal and state taxing authorities for three years. true Michael J Fox Foundation Grand Central Station PO Box 4777 New York NY 10163 134141945 501(c)(3) 1000000 N/A RESEARCH Arvinas Inc 5 Science Park NEW HAVEN CT 06511 463139663 600000 N/A RESEARCH Restorbio Inc 500 Boylston Street 13th Floor Boston MA 02116 813305277 500000 N/A RESEARCH Yale University PO Box 208239 NEW HAVEN CT 06520 060646973 501(c)(3) 400000 N/A RESEARCH Alector 131 Oyster Point Blvd Suite 600 South San Francisco CA 94080 462702363 70435 N/A RESEARCH 2 3 Schedule I, Line 1 The Silverstein Foundation for Parkinsons with GBA maintains records to substantiate the funding amount, eligibility criteria and selection criteria used to award the grants. A Grant Contracting Process Summary provides detailed instructions and guidance for the Board and Scientific Advisory Board (SAB) as they seek new, cutting-edge therapeutic approaches for treating and preventing Parkinsons Disease in GBA mutation carriers. The SAB, which guides decision making in the selection process, is comprised of eleven (11) world renowned researchers and drug-developers. They are able to rapidly comb through GBA-related research to advance our goals and determine which grants shall be awarded. The Grant Contracting Process outlines the steps the Foundation takes to substantiate amounts and eligibility as follows; Primary Investigators (PI's) are asked to submit a detailed research plan and complete milestone and budget templates which are reviewed by Foundation staff and SAB members. Budget justification may be required. For private companies, high-level financial documents are requested in order to provide confirmation that the company has financial stability throughout the duration of the grant and beyond. Once all documents are received from grantee, internal review by all scientists ensures that all requests and goals are appropriate. A contract template, which includes payment schedule, is completed once all documents have been vetted by internal staff. A payment schedule is determined and payments are based upon milestones and deliverables being met. Clear go/no-go points for the research are required. Final executed contract, including budget and milestones are signed by the Foundation and the grantee, and are kept on file. Foundation personnel are assigned to oversee the progress of the grant, both scientifically and administratively. Progress updates, check-ins and reporting requirements are outlined and agreed upon in the contract and are monitored closely by personnel. Schedule I, Line 2 Describe the Foundation's procedures for monitoring the use of grant funds. The Silverstein Foundation for Parkinson's with GBA maintains a rigorous grant management process which involves the following steps: Identify point of contact (POC) internally and communicate this to grantee. Inform grantee that they will be in touch with POC proactively on: - First month progress on recruitment and hires (clinical grant) - Monthly progress on recruitment (clinical grant) - Scheduling a three (3) month call, midpoint assessment call and final assessment meeting/call. - Submit midpoint report and final report to the POC progress against milestones. Payments will only be released if milestones are met. Grantee will need to stay in touch to share updates. Adjust payments if milestones are delayed. If work cannot continue, modification of work or early termination of grant would be required. Upon confirmation that payment can be sent, inform Foundation Treasurer (Natalie Silverstein) three (3) days in advance to issue payment. Share grantee name, amount and bank information. Track information in grants tracker, payment tab. During midpoint and final report submission, ensure all high-level data, findings and results are shared in written form, even if grantee plans to share information via phone or in person during assessment meeting. Foundation shall save all reports and final presentations in grantee's file as "reports & results". X 40 5440 stock price false false false Form 990, Part III, LINE 1, Organization's mission CONTINUE FROM PART III: WE AGGRESSIVELY SEEK OUT NEW CUTTING EDGE THERAPEUTIC APPROACHES TO TREATING AND PREVENTING PARKINSON'S IN GBA MUTATION CARRIERS. THROUGH CLINICIANS, SCIENTISTS AND BIOTECH COMPANIES, WE SEEK TO ACCELERATE RESEARCH AND CLINICAL TRIALS IN AN EFFORT TO RAPIDLY BRING NEW THERAPEUTIC OPTIONS TO PATIENTS. FORM 990, PART III, LINE 4a, PROGRAM SERVICES CONTINUE FROM PART III: In 2018, the Silverstein Foundation launched a joint RFP with the Michael J. Fox Foundation for Parkinson's Research, making up to $3.5 million in research funding available to expand the understanding of the GBA gene in Parkinson's disease and to accelerate the development of basic science and novel therapeutics. The Silverstein Foundation contributed &1,000,000 to this effort, and twenty programs were selected to receive grants from this partnership. Additionally, the following grants were made by The Silverstein Foundation in 2018: A grant was made to acclaimed stem cell researcher, Dr. Jeanne Loring of the Scripps Research Institute, and her new company, Aspen Neuroscience. Dr. Loring is using patient-specific cells from induced pluripotent stem cells (IPSCs) to treat disease. In addition to her work in idiopathic PD, she will use this grant to focus on Parkinson's with GBA. A grant was made to Q-State Biosciences, a global leader in antisense oligonucleotide (ASO) research, to design ASOs that prevent production of toxic proteins or rescue expression of a protein to yield a beneficial effect. E-Scape Bio is focused on the development of small molecule drugs to treat genetically-defined subpopulations in neurodegenerative diseases. E-scape has been given a grant and will enter the clinic this year with an S1P5 substrate reduction therapy. form 990, Part VI, LINE 2, Family/Business Relationship DIRECTORS JONATHAN SILVERSTEIN AND NATALIE SILVERSTEIN HAVE A FAMILY RELATIONSHIP. Form 990, Part VI, line 11, Form 990 Review The Form 990 is prepared, using information provided by the Foundation, by an independent accounting firm. the 990, as will be filed with the IRS, is reviewed by the board prior to its filing. Form 990, Part X, Balance Sheet The BOY balances were restated following adjusting journal entries made with the issuance of the first set of the audited financial statements. No material mistatements were made on the 2017 Form 990.