2018-08-16T09:01:54-05:00 2017-12-31 161600045 SZYMKOWIAK & ASSOCIATES CPAS PC 6325 MAIN STREET SUITE 100 WILLIAMSVILLE NY 14221 990 2017-01-01 263085485 THE JACOBS INSTITUTE INC JACO 7168884800 875 ELLICOTT STREET 5TH FLOOR BUFFALO NY 14203 DANIEL J ZIMMER TREASURER 7168585208 2018-08-01 1 MARIA T SCAROZZA P01240837 7166262626 2017 2022-09-23 18:48:47Z BILL MAGGIO 875 ELLICOTT STREET BUFFALO NY 14203 5851347 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 21 0 0 0 2469660 2964693 1843790 2807389 964 780 0 78485 4314414 5851347 0 0 0 0 1833477 2330392 0 0 0 2552225 3570433 4385702 5900825 -71288 -49478 4110295 3723357 3114030 2776570 996265 946787 X REFER TO SCHEDULE O.REFER TO DESCRIPTION FOR FORM 990, PART I, LINE 1 LISTED ABOVE. 0 0 4439186 2807389 INVESTIGATION AND DUE DILIGENCE RELATED TO IMPLEMENTATION OF ALL ACTIVITIES ON SCHEDULE O. 4439186 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 0 0 0 0 0 0 0 0 0 1 66 0 1 21 1 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 0 1 1 0 NY X MICHAEL SPRINGER 7168884819 875 ELLICOTT STREET BUFFALO NY 14203 JEREMY M JACOBS CHAIRMAN 0.50 X X 0 0 0 ROBERT T BRADY DIRECTOR 0.50 X 0 0 0 WILLIAM G GISEL JR DIRECTOR 0.50 X 0 0 0 RENE F JONES DIRECTOR 0.50 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 SATISH K TRIPATHI PHD DIRECTOR 0.50 X 0 0 0 JODY L LOMEO DIRECTOR 0.50 X 0 0 0 DANIEL J ZIMMER TREASURER 3.00 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 300000 0 22558 BILL MAGGIO CEO 15.00 X 150000 0 19649 ADNAN H SIDDIQUI MD CHIEF MEDICAL OFFICER 40.00 X 750000 0 23837 MICHAEL SPRINGER DIRECTOR OF OPERATIONS 40.00 X 147096 0 13528 PAMELA MARCUCCI MANAGER 40.00 X 111100 0 19077 1458196 0 98649 6 0 1 0 ATTENTION SPAN MEDIA 12 N AURORA ST STE 4A ITHACA NY 14850 MEDIA PRODUCTION 581742 LIPPES MATHIAS WEXLER FRIEDMAN LLP 50 FOUNTAIN PLAZA 1700 BUFFALO NY 14202 LEGAL SERVICES 110981 TECHNICAL PRODUCTION SERVICES 196 REIST ST WILLIAMSVILLE NY 14221 AUDIO VIDEO AND I.T. SERVICES 107460 3 400000 2564693 7886 2964693 CONFERENCE REVENUE 900099 883004 883004 TRAINING AND MEDIA PRO 900099 846695 846695 INDUSTRY SPONSORED PRO 900099 692218 692218 PRODUCT TESTING SERVIC 900099 385472 385472 2807389 780 780 OTHER INCOME 900099 78485 78485 78485 5851347 2885874 0 780 1266044 773837 492207 876037 483466 392571 49613 29476 20137 138698 65947 72751 167590 43035 124555 48226 14345 33881 5475 5475 104712 78534 26178 119098 86670 32428 509213 509213 644093 576563 67530 31652 31652 FUTURE OF MEDICINE EXPE 615916 615916 SUPPLIES 486860 471537 15323 CONTRACTUAL SERVICES 426031 426031 RESEARCH EXPENSE 235329 235329 176238 29287 146951 5900825 4439186 1461639 0 1091676 1566598 936043 0 300000 544632 317813 615960 31065 77090 3996896 3077819 1433698 919077 4110295 3723357 540677 363581 2573353 2412989 3114030 2776570 X 389544 196533 606721 750254 996265 946787 4110295 3723357 -49478 0 X 0 1 X 1 0 X 1558833 1254053 1432203 2469660 2956807 9671556 1558833 1254053 1432203 2469660 2956807 9671556 1471389 8200167 77979 964 780 79723 88309 78485 166794 9918073 0.82680 0.78280 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3996896 3077819 919077 919077 CUSTOMER DEPOSITS 26000 DEFERRED LEASE INCENTIVE 137153 DEFERRED RENT 1311800 DEFERRED GRANT REVENUE 700000 ACCRUED EXPENSES 101820 OTHER DEFERRED REVENUE 136216 2412989 X 6061100 209753 209753 5851347 0 5851347 6110578 209753 209753 5900825 0 5900825 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. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE THE ORGANIZATION'S 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 INTERNAL REVENUE SERVICE. THE ORGANIZATION'S MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2017, THERE WERE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING AUTHORITIES. HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE ORGANIZATION'S MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2014. X 0 0 0 0 0 0 0 0 0 L NELSON HOPKINS MD CHIEF SCIENCE OFFICER 300000 0 0 0 0 0 22558 0 0 0 322558 0 0 0 BILL MAGGIO CEO 150000 0 0 0 0 0 19649 0 0 0 169649 0 0 0 ADNAN H SIDDIQUI MD CHIEF MEDICAL OFFICER 750000 0 0 0 0 0 23837 0 0 0 773837 0 0 0 MICHAEL SPRINGER DIRECTOR OF OPERATIONS 147096 0 0 0 0 0 13528 0 0 0 160624 0 0 0 GERALD S LIPPES DIRECTOR 113905 LEGAL SERVICES 0 SATISH K TRIPATHI DIRECTOR 694265 RENT AND OTHER SERVICES 0 SCH L, PART IV NAME OF PERSON: GERALD S. LIPPESDESCRIPTION OF TRANSACTION: JACOBS INSTITUTE PAID $100,173 IN LEGAL SERVICES DURING THE YEAR ENDED DECEMBER 31, 2017 TO AN ENTITY AFFILIATED WITH GERALD S. LIPPES.DESCRIPTION OF TRANSACTION: JACOBS INSTITUTE PAID $13,732 IN NEWS LETTER EXPENSES DURING THE YEAR ENDED DECEMBER 31, 2017 TO AN ENTITY AFFILIATED WITH GERALD S. LIPPES.NAME OF PERSON: SATISH K. TRIPATHIRENT WAS INCURRED IN THE AMOUNT OF $134,101 BY THE JACOBS INSTITUTE, INC FROM ENTITIES AFFILIATED WITH THE UNIVERSITY AT BUFFALO. THE JACOBS INSTITUTE ALSO PAID $560,164 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 ORGANIZATIONS OF: (A) ADVANCEMENTS IN THE TREATMENT OF GLOBAL VASCULAR DISEASE AND RELATED NEUROLOGICAL DISEASE; AND (B) CUTTING EDGE TECHNOLOGIES AND OTHER INNOVATIONS 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 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 DIRECTOR 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.