2018-11-13T14:01:45-06:00 2017-12-31 350921680 CROWE LLP 401 East Las Olas Blvd Suite 1100 Fort Lauderdale FL 333014230 990 2017-01-01 262117502 MAX PLANCK FLORIDA CORPORATION MAXP 5619729000 ONE MAX PLANCK WAY JUPITER FL 33458 MATTHIAS HAURY COO 2018-11-13 true BRITTNEY KOCAJ P01320603 9542028600 2017 2019-02-21 02:37:17Z MAX PLANCK FLORIDA INSTITUTE FOR NEUROSCIENCE DAVID FITZPATRICK ONE MAX PLANCK WAY JUPITER FL 33458 31920843 false X www.maxplanckflorida.org X 2007 FL The organization's mission is to expand knowledge of the biosciences, educate and train young scientists for biomedical research and improve human welfare by applying breakthroughs in research to the advancement of medical diagnosis and medical care for the public's benefit. 13 10 164 11 0 0 17806054 20085835 224706 267491 633324 861327 14228 18664084 21228881 45000 0 0 11203213 11188416 0 537723 11925290 10799859 23173503 21988275 -4509419 -759394 104139822 106479749 815889 967114 103323933 105512635 The organization's mission is to expand knowledge of the biosciences, educate and train young scientists for biomedical research and improve human welfare by applying breakthroughs in research to the advancement of medical diagnosis and medical care for the public's benefit. false false 20389180 281719 Max Planck Florida Corporation established its first scientific department in the summer of 2009 and has expanded to two research divisions and six research groups to fulfill its purpose to expand knowledge of the biosciences, and educate and train young scientists for biomedical research. The eight research labs focus in the areas of disorders of neural circuit function, mechanisms of synaptic signaling & computation, functional architecture & development of visual cortex, cellular organization of cortical circuit function, molecular mechanisms of synaptic function, neuronal signal transduction, cellular basis of neural circuit plasticity and development & function of inhibitory neural circuits. (Continued on Schedule O) 20389180 true true false false false false false true false true true false true false false true false true false false true false false false false false false false false true false false false false false false false false false false false false false true true true false false true 21 0 true 164 true false false false false false false true false false false X 13 10 false false false false true true true true true false false true true true true true true true true false FL X DORIS FORCHHEIMER 5619729000 ONE MAX PLANCK WAY JUPITER FL 33458 Bill S Hansson Chairman 1.0 0 X X 0 0 0 David Fitzpatrick Chief Executive Officer/Scientific Director 40.0 1.0 X X 393619 0 42819 David Auth Trustee 1.0 0 X 0 0 0 Alex W Dreyfoos Trustee 1.0 0 X 0 0 0 Louis J Freeh Trustee 1.0 0 X 0 0 0 Jean-Pierre Garnier Trustee 1.0 0 X 0 0 0 Nasser Kazeminy Trustee 1.0 0 X 0 0 0 Bonnie Mcelveen-Hunter Trustee 1.0 0 X 0 0 0 James R Mellor Trustee 1.0 0 X 0 0 0 Bernard Poussot Trustee 1.0 0 X 0 0 0 Markus Schleier Trustee 1.0 0 X 0 0 0 Carla Shatz Trustee (partial year) 1.0 0 X 0 0 0 James N Weinstein Trustee 1.0 0 X 0 0 0 George T Elmore Trustee 1.0 1.0 X 0 0 0 Bindumani Singh Secretary (partial year) 40.0 0 X 39313 0 8763 Matthias Haury Chief Operations Officer/Treasurer 40.0 0 X 303456 0 40636 William Pennell VP Finance & Administration (partial year) 40.0 1.0 X 118025 0 20465 Doris Forchheimer VP Finance (partial year) 40.0 1.0 X 126925 0 33792 Hollie Perez VP Human Relations 40.0 0 X 124648 0 29256 Barbara Suflas Noble VP of Institute Advancement 12.0 28.0 X 201330 0 37013 Ryohei Yasuda Scientific Director 40.0 0 X 298189 0 48234 Idris El-Amin Head, Attending Veterinarian 40.0 0 X 154559 0 45157 Jason M Christie Research Group Leader 40.0 0 X 151966 0 31759 James M Schummers Research Group Leader 40.0 0 X 146196 0 23696 Hiroki Taniguchi Research Group Leader 40.0 0 X 145954 0 29707 Hyungbae Kwon Research Group Leader 40.0 0 X 144674 0 30341 2348854 0 421638 17 false true false Allied Universal 161 Washington St Ste 600 Conshohocken PA 19428 Security 138182 T&M Services 31 NE 1st Street Pompano Beach FL 33060 Janitorial Services 125827 2 10046527 9810597 228711 20085835 Research Services/Instruction 541715 267491 267491 0 0 0 0 267491 440210 440210 0 0 10916974 196105 10633748 58214 283226 137891 421117 421117 Other Income 900099 14228 14228 0 0 0 0 14228 21228881 281719 0 861327 1866483 1706994 115447 44042 6940389 6542284 230836 167269 545503 517078 12586 15839 1252922 1194412 32484 26026 583119 553472 15195 14452 38802 38802 55269 55269 56575 56575 0 0 0 0 21766 9281 5066 7419 650740 587636 28789 34315 247266 223032 17750 6484 428886 409932 10096 8858 254695 246545 2298 5852 4038795 3757900 206546 74349 456821 385678 52635 18508 Contract Svc & Recruitment 1406646 1316281 51107 39258 Facility Repair & Maintenance 1314485 1156022 106067 52396 SECURITY 138235 116707 15928 5600 Supplies & Equipment 1597083 1595046 1507 530 93795 70880 6389 16526 21988275 20389180 1061372 537723 408893 607683 2065789 9610965 853008 1238610 3500 64379 0 0 923712 783039 97000806 31197166 68355978 65803640 24196838 19686232 0 6584724 7877132 747380 808069 104139822 106479749 815889 967114 0 0 0 815889 967114 X 92090704 93326503 7494273 8393596 3738956 3792536 103323933 105512635 104139822 106479749 X -759394 2131632 -475944 1292408 X false true X true true true X 7144238 16672473 24569158 17806054 20085835 86277758 0 0 7144238 16672473 24569158 17806054 20085835 86277758 38226556 48051202 0 0 0 491718 440210 931928 0 0 0 0 0 0 0 87209686 807156 0.5510 0.9834 X 0 17995 X false 4133514 255625 695288 11546 5072881 3619871 235554 281752 3663 4133514 1933352 1727037 -38157 2361 3619871 1564251 288291 83452 10 2632 1933352 1007458 352029 208264 3500 1564251 0.0 0.7476 0.2524 false true true 6000000 6000000 64643531 8832377 55811154 25690063 21716337 3973726 667212 648452 18760 65803640 Interest in net assets of the Foundation 7877132 F 7877132 0 X 24688111 2131632 35190 1292408 3459230 21228881 0 0 21228881 22499409 511134 0 511134 21988275 0 0 21988275 Schedule D, Part III, Line 4 Collections of art - description of collections The organization maintains artwork in its state-of-the-art research facility as part of the building's decor. The painting in the lobby is called "Cortical Landscape" by Greg Dunn. Schedule D, Part V, Line 4 Intended uses of endowment funds MAX PLANCK FLORIDA INSTITUTE FOR NEUROSCIENCE's endowment fund consists of one fund that is held and administrated by MAX PLANCK FLORIDA FOUNDATION, a related organization. This endowment fund was established for the future growth and development of MAX PLANCK FLORIDA INSTITUTE FOR NEUROSCIENCE and Max Planck Florida Foundation. THE FOUNDATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE FOUNDATION MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD(S) AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER OUTLINED IN THE INVESTMENT POLICY. THIS INVESTMENT POLICY'S PURPOSE IS TO PROVIDE GUIDANCE TO THE INVESTMENT MANAGERS REGARDING THE FOUNDATION'S OBJECTIVES AND GOALS WITH REGARD TO THE ENDOWMENT INVESTING. SPECIFICALLY IT OUTLINES THE RISK TOLERANCE AREAS OF THE FOUNDATION AS WELL AS DEFINING THE LIMITATIONS IN THE PORTFOLIO OF INVESTMENTS. THE FOUNDATION EXPECTS ITS ENDOWMENT FUNDS, OVER TIME TO PROVIDE AN AVERAGE RATE OF RETURN THAT PERMITS A PREDICTABLE AND SUSTAINABLE SPENDING RATE OF THE AVERAGE MARKET VALUE OF ENDOWMENT ASSETS BY ACHIEVING ANNUAL GROWTH IN VALUE AT A RATE EQUAL TO THE SUM OF THE ANNUAL SPENDING RATE AND THE ANNUAL RATE OF INFLATION. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Organization is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes is made in the accompanying financial statements. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN INTEREST IN NET ASSETS OF FOUNDATION - 1292408 East Asia and the Pacific 0 0 Program Services Research conferences 19864 Europe (Including Iceland and Greenland) 0 0 Program Services Research conferences 120008 North America (Canada & Mexico only) 0 0 Program Services Research conferences 1586 South America 0 0 Program Services Research conferences 16423 0 0 0 0 0 0 157881 0 157881 false false false false false false X true true X X X false false false false false false false false false David Fitzpatrick Chief Executive Officer/Scientific Director 390055 0 0 0 3564 0 35615 0 7204 0 436438 0 0 0 Matthias Haury Chief Operations Officer/Treasurer 302271 0 0 0 1185 0 28228 0 12408 0 344092 0 0 0 Doris Forchheimer VP Finance (partial year) 126041 0 0 0 884 0 11888 0 21904 0 160717 0 0 0 Hollie Perez VP Human Relations 124408 0 0 0 240 0 13356 0 15900 0 153904 0 0 0 Barbara Suflas Noble VP of Institute Advancement 198503 0 0 0 2827 0 21889 0 15124 0 238343 0 0 0 Ryohei Yasuda Scientific Director 297378 0 0 0 811 0 26566 0 21668 0 346423 0 0 0 Idris El-Amin Head, Attending Veterinarian 154313 0 0 0 246 0 16378 0 28779 0 199716 0 0 0 Jason M Christie Research Group Leader 151673 0 0 0 293 0 16963 0 14796 0 183725 0 0 0 James M Schummers Research Group Leader 145919 0 0 0 277 0 16133 0 7563 0 169892 0 0 0 Hiroki Taniguchi Research Group Leader 145540 0 0 0 414 0 9825 0 19882 0 175661 0 0 0 Hyungbae Kwon Research Group Leader 144398 0 0 0 276 0 10266 0 20075 0 175015 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel The executive team travels business class when traveling overseas. In some cases the executive team travels first class when traveling domestically. Form 990, Part III, Line 4a Program Service Description (Continued from Part III) The Institute and Max-Planck-Gesellschaft zur Foerderung der Wissenschaften e.V. (MAX PLANCK SOCIETY FOR THE ADVANCEMENT OF SCIENCE - "Max Planck Society") have a funding agreement whereby Max Planck Society provides annual funding for operations of the organization up to a maximum of 8 million Euros. During 2017, the Institute received $9,320,325 from Max Planck Society which consists of $8,933,700 for operations, $357,547 for research groups, and $29,078 for graduate programs funding. In 2008, the Institute entered into a grant agreement with Palm Beach County providing for $26,960,000 general operating funds of which all funding has been received through December 31, 2017. The Institute received $5,347,000 and $3,028,00 during the years ended December 31, 2017 and 2016, respectively. Form 990, Part VI, Line 1b Independent voting board members The two members of the Board of Trustees who are not independent are Bill Hansson and Markus Schleier. Bill Hansson and Markus Schleier are employees of Max-Planck-Gesellschaft zur Foerderung der Wissenschaften e.V. (MAX PLANCK SOCIETY FOR THE ADVANCEMENT OF SCIENCE - "Max Planck Society"), a foreign related organization, and are compensated by Max Planck Society accordingly. The organization is unable to secure information on compensation paid to Bill Hansson and Markus Schleier by Max Planck Society, after making a reasonable effort to obtain the information and is unable to provide a reasonable estimate of such compensation. Form 990, Part VI, Line 6 Classes of members or stockholders MAX PLANCK FLORIDA CORPORATION has one member, Max-Planck-Gesellschaft zur Foerderung der Wissenschaften e.V. (MAX PLANCK SOCIETY FOR THE ADVANCEMENT OF SCIENCE - "Max Planck Society"). Form 990, Part VI, Line 7a Members or stockholders electing members of governing body Pursuant to Section 5.3 paragraph (a) of the organization's Bylaws, the election of trustees shall take place at the annual meeting of the member (Max Planck Society.) Pursuant to Section 5.5 of the organization's Bylaws, any Trustee may be removed from office for any reason by the Member (Max Planck Society) at any regular or special meeting called for that purpose. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders Pursuant to Section 4.5 of the Organization's bylaws, the following actions must be approved by the member (Max Planck Society): -The issuance of membership interests; -Any merger or consolidation of the Corporation with or into any other entity, or of any other entity with or into the Corporation; -Any sale, lease, exchange, transfer or other disposition of assets at a purchase price of, or in consideration of, a sum greater than One Hundred Thousand Dollars ($100,000); -Any purchase or other acquisition of assets at an aggregate cost to the Corporation in excess of One Hundred Thousand Dollars ($100,000); -Any incurrence of loans or other indebtedness by the Corporation in an amount in excess of Twenty Thousand Dollars ($20,000); -Any reclassification or recapitalization of the ownership of controlling interests or other interests in the Corporation; -Any redemption or purchase of any interest in the Corporation; -Any amendment to the Articles of Incorporation or the Bylaws of the Corporation; -The dissolution or liquidation of the Corporation; -The authorization for the employment or discharge of any individual at a salary in excess of One Hundred Thousand Dollars ($100,000) annually, or for the execution and delivery of any employment contracts, or the modification or termination thereof; -The entering into of any contract by the Corporation for materials or services at an aggregate contract price in excess of One Hundred Thousand Dollars ($100,000); -The creation of any indebtedness or any other obligation of the Corporation in excess of Twenty Thousand Dollars ($20,000); -The compensation to be paid to Trustees or committee members; -Any decision affecting the filing of corporate tax returns or the handling of corporate tax matters; and -The appointment of any Professor or Associate Professor to any institute developed or maintained by the Corporation. In addition, two of the trustee positions shall be reserved for representatives of Max Planck Society. Form 990, Part VI, Line 11b Review of form 990 by governing body The governing body reviews Form 990 and the related schedules along with the audit committee and management. These individuals review the Form 990, prepared by an outside CPA, in its entirety prior to filing with the Internal Revenue Service and communicate to the Board of Trustees at the next scheduled board meeting. This approval process is documented with the signature of the COO or CEO. Form 990, Part VI, Line 12c Conflict of interest policy The organization regularly and consistently monitors compliance with the Conflict of Interest policy by annually distributing Conflict of Interest forms to interested persons to complete. Completed forms are first reviewed by the organization's Secretary for any relationships or transactions that may need to be disclosed to the Board of Trustees. Conflicts that arise must be reported to the board whereby appropriate action is taken. Form 990, Part VI, Line 15a Process to establish compensation of top management official Independent data is used to establish compensation for every key management position prior to and at the time of hire. The Board of Trustees ratifies hires at the next scheduled board meeting. The compensation committee along with all senior officers participate in hiring, review, and decision. The compensation committee meets annually to review CEO compensation. The compensation committee uses industry statistics, benchmarking data, and surveys for comparability purposes. This process was last undertaken in 2017. Form 990, Part VI, Line 15b Process to establish compensation of other employees Independent data is used to establish compensation for every key management position prior to and at the time of hire. The Board of Trustees ratifies hires at the next scheduled board meeting. The compensation committee along with all senior officers participate in hiring, review, and decision. The compensation committee meets annually to review compensation of other officers. The compensation committee uses industry statistics, benchmarking data, and surveys for comparability purposes when reviewing officer compensation, and the compensation committee and Board of Trustees approves compensation of all other officers. This process was last undertaken in 2017. Form 990, Part VI, Line 19 Required documents available to the public Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to Internal Revenue Code (IRC) Section 6104. These documents are not available to the public at this time. Form 990, Part VII, Section A Line 1 - VP of Institute Advancement The VP of Institute Advancement is compensated through Max Planck Florida Corporation. This individual devotes the majority of their time to the related organization Max Planck Florida Foundation. Form 990, Part VII, Section A Line 1 - Compensation of Directors by Related Organizations The organization is unable to secure information on compensation paid to Bill Hansson and Markus Schleier by the foreign related organization, Max-Planck-Gesellschaft zur Foerderung der Wissenschaften e.V. (MAX PLANCK SOCIETY FOR THE ADVANCEMENT OF SCIENCE - "Max Planck Society"), after making a reasonable effort to obtain the information and is unable to provide a reasonable estimate of such compensation. The organization has had discussions with multiple legal teams representing the Max Planck Society, who have confirmed that this compensation information will not be provided for purposes of the Max Planck Florida Corporation Form 990 due to privacy laws in Germany. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Change in interest in net assets of Foundation - 1292408; Max Planck Florida Foundation One Max Planck Way Jupiter FL 33458 272007902 501(c)(3) Supporting Organization FL 501(c)(3) Type I Max Planck Florida Corporation true Max-Planck-Gesellschaft zur Foerderung der Wissenschaften eV Independent non-profit research organization GM 501(c)(3) NA false false false true false false false false false false false false false true true true false false false false Max Planck Florida Foundation Inc C 726202 FMV Max Planck Florida Foundation Inc O 315099 FMV