2017-11-14T11:35:55-08:00 2016-12-31 Leaf & Cole LLP 2810 Camino Del Rio South Suite 200 San Diego CA 921083820 990 2016-01-01 462953382 THE CALIFORNIA MEDICAL INNOVATIONS INSTITUTE INC CALI 8582497407 11107 ROSELLE STREET SAN DIEGO CA 92121 Ghassan Kassab President 2017-11-14 true JULIE A FIRL P00085551 6192947200 X 2016 2017-02-10 21:41:12Z Ghassan Kassab 11107 ROSELLE STREET STE 211 SAN DIEGO CA 92121 4329392 false false X N/A X 2013 CA Bringing together physical and life science researchers, clinicians, engineers, and computational scientists to address the significant health care challenges of vascular disease, heart failure, and metabolic disorders through a multi-scale understanding of organ systems. 5 4 31 57246 2745 1993491 2252465 1545571 2076927 0 0 3539062 4329392 0 0 1370445 1745986 0 0 1903714 2385411 3274159 4131397 264903 197995 1470819 1119508 1316961 821156 153858 298352 The Institute is a scientific research center dedicated to conducting basic and applied research to advance the understanding of human disease and the improvement of human health. The Institute fosters an innovative research environment with a multidisciplinary and collaborative approach to the discovery process - bringing together physical and life science researchers, clinicians, engineers/ and computational scientists to address the significant health care challenges of heart and vascular disease, obesity, and metabolic disorders through a multi-scale understanding of organ systems. Institute researchers have expertise in both experimental and computational disciplines. The former utilize the experimental reductionist approach to dissect the biological system into its molecular, cellular and tissue components. The latter use a computational integrative approach to synthesize the parts using laws of physics and chemistry to understand the whole organ. The Institutes multi-discipline false false 3600849 2076927 The Institute has made substantial progress in more fully understanding, and developing a specific therapeutic approach for, the multiple aspects of heart failure. The Institute also made significant progress in the understanding and treatment of vascular disease, including work advancing next generation endografts for treatment of aneurysm to eliminate migration and endoleak, biomaterial tissue constructs to replace arteries or veins, percutaneous prosthetic venous values to treat chronic venous insufficiency and atraumatic clamps. During the year, the research staff at the Institute regularly presented its scientific findings to the public via panels, lectures, publications, and other similar programs. 3600849 true true false false false false false false false false true false false false true true true false false false false false false false false false false false false true false false false false false false true false false false false false false false false false false false false false false true 12 0 true 31 true true true false false false false false false 0 false false false false false false false false false false X 5 4 true false false false false false false true false false false true true true true true true true false false CA X X LIGIA AMEZCUA 8582497407 11107 ROSELLE STREET STE 211 SAN DIEGO CA 92121 Ghassan Kassab President 40.00 0.00 X X 206000 0 16071 DARELL KRASNOFF BOARD MEMBER 2.00 0.00 X 0 0 0 PHIL HIMELSTEIN Chair 2.00 0.00 X X 0 0 0 Demetri Andrikos JD Sec/Treasurer 2.00 0.00 X X 2925 0 0 STEVE LEVINE BOARD MEMBER 2.00 0.00 X 0 0 0 JENNY CHOY PROFESSOR 40.00 0.00 X 108000 0 5418 XIAO LU PROFESSOR 40.00 0.00 X 133900 0 14159 XIAOMEI GUO PROFESSOR 40.00 0.00 X 113300 0 4693 564125 40341 4 false true false 0 2217465 35000 2252465 CONTRACT REVENUE 900099 2019681 2019681 VENDOR SERVICES 900099 57246 57246 2076927 0 0 0 0 0 0 0 0 0 4329392 2019681 57246 0 0 0 0 206000 130662 75338 0 1287079 1181157 105922 0 149567 138120 11447 103340 95105 8235 0 38251 38251 75590 75590 0 0 0 235984 196092 39892 0 13133 11724 1409 49550 49324 226 0 1108831 975122 133709 15123 4637 10486 0 0 12000 10560 1440 0 95196 83773 11423 20644 18167 2477 LAB SUPPLIES & SVCS 511068 511068 RESEARCH SUBCONTRACTS 92383 92383 EQUIP RENTAL, REPAIRS & MAINT 65207 57557 7650 OTHER EXPENSES 28990 23276 5714 23461 22122 1339 4131397 3600849 530548 0 133294 396268 0 996717 524975 139874 0 0 0 0 44790 22557 8757 312767 173049 173377 139718 0 0 0 0 5000 5000 1470819 1119508 103333 68634 552585 64354 600000 600000 61043 88168 1316961 821156 X 153858 298352 153858 298352 1470819 1119508 X 197995 -53501 X false true X false true true X 225000 1993491 2252465 4470956 0 0 225000 1993491 2252465 4470956 71162 4399794 0 0 0 4470956 3622498 X 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 312767 173049 139718 139718 ACCRUED PAYROLL 88168 88168 X 4329392 4329392 4329392 4184898 53501 53501 4131397 4131397 Part X : FIN48 Footnote The Institute is a public charity and is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the California Revenue and Taxation Code. The Institute believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The Institute is not a private foundation. Part XII, Line 2d: Other expenses and losses per audited F/S VENDOR SERVICE EXPENSES $53501 X X false false false false false false false false false false Ghassan Kassab President 206000 16071 222071 3DT HOLDINGS LLC Indirect - Pres/CEO Operating X 600000 600000 false true true 600000 KASSAB GLOBAL BIOTECH Owned by family mbrs 809287 RENT OF FACILITY false 3DT HOLDINGS LLC Indirect - Pres/CEO 2018520 CONTRACT FOR SERVICE false ACCULAB Indirect - Pres/CEO 6359 VENDOR SERVICES false 3DT HOLDINGS LLC Indirect - Pres/CEO 50887 VENDOR SERVICES false Schedule L, Part V Supplemental Information 3DT HOLDINGS, LLC:ON APRIL 29, 2015, THE INSTITUTE ADOPTED A MODIFICATION TO THE LOAN AGREEMENT PREVIOUSLY ENTERED INTO WITH 3DT HOLDINGS, LLC, AN ENTITY OWNED IN PART BY DR. KASSAB. IN 2014, 3DT HOLDINGS, LLC LOANED $600,000 TO THE INSTITUTE TO ADDRESS THE CASH FLOW SHORTAGE THAT THE INSTITUTE FACED AS A RESULT OF ITS SUBSTANTIAL START-UP COSTS. THE INITIAL LOAN WAS APPROVED BY THE DISINTERESTED MEMBERS OF THE BOARD OF DIRECTORS. IN 2015, THE INSTITUTE REQUIRED ADDITIONAL FUNDS TO COVER ITS OPERATING COSTS AND 3DT HOLDINGS, LLC AGREED TO MODIFY THE LOAN AGREEMENT TO INCREASE THE MAXIMUM AMOUNT BORROWABLE FROM $600,000 TO $900,000. THE TERMS OF THE MODIFIED LOAN WERE REVIEWED AND APPROVED BY THE DISINTERESTED MEMBERS OF THE BOARD OF DIRECTORS. IN DETERMINING WHETHER THE TERMS OF THE MODIFIED LOAN WERE REASONABLE, THE DISINTERESTED MEMBERS OF THE BOARD REVIEWED COMPARABILITY INFORMATION AND CONSIDERED THAT THE INTEREST CHARGED ON THE LOAN IS WELL BELOW THE RATE THAT WOULD HAVE BEEN CHARGED BY A DISINTERESTED THIRD PARTY. THE DECISION OF THE BOARD OF DIRECTORS WAS DOCUMENTED IN THE MINUTES OF THE MEETING WHERE THE MODIFIED LOAN AGREEMENT WAS DISCUSSED. DR. KASSAB AND MR. ANDRIKOS BOTH LEFT THE MEETING PRIOR TO THE VOTE AND ABSTAINED FROM THE VOTE. WHILE THE ADDITIONAL $300,000 LINE OF CREDIT WAS APPROVED BY THE BOARD IN 2015, NO ADDITIONAL AMOUNTS WERE BORROWED UNDER THE EXTENDED LINE OF CREDIT DURING 2016. BECAUSE THE ADDITIONAL $300,000 LINE OF CREDIT WAS DETERMINED TO NOT BE NECESSARY, THE LOAN AMOUNT WAS REDUCED BACK TO $600,000 IN 2016.Kassab Global Biotech, LLC:The Institute has entered into a written lease agreement with Kassab Global Biotech, LLC. The terms of the lease were reviewed and approved by the disinterested members of the Board of Directors in 2015 IN ACCORDANCE WITH THE REBUTTABLE PRESUMPTION OF REASONABLENESS. Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et None of the Officers or Directors were related by family. However, one of the Directors had a business relationship with Dr. Kassab, as described below: Director Demetri Andrikos was an employee of 3DT Holdings, LLC, an organization owned in part by Dr. Kassab. The employee relationship ended August 2015. Subsequent to August 2015 Demetri Andrikos provided contract services. OUT OF AN ABUNDANCE OF CAUTION, the Institute TREATED Mr. Andrikos AS THOUGH HE WAS "INTERESTED" with respect to transactions involving Dr. Kassab. THEREFORE, MR. ANDRIKOS DID NOT PARTICIPATE IN ANY VOTES RELATING TO TRANSACTIONS INVOLVING DR. KASSAB. Form 990, Part VI, Line 11b: Form 990 Review Process The Form 990 was reviewed and discussed by senior management, the President, the Board of Directors, and outside counsel for the Institute prior to filing. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The Board of Directors has adopted two written Conflict of Interest Policies. The first policy (the Financial Conflict of Interest Policy) is applicable to Officers and Directors of the Institute. Each Officer and each member of the Board of Directors is required to review and acknowledge their understanding of the Financial Conflict of Interest Policy upon appointment to office or to the board. Officers and Directors are routinely encouraged to bring any and all potential conflicts of interest to the attention of the disinterested board members for review.The second policy (the Research Conflict Policy) is applicable to researchers participating in any of the Institutes federally funded grants. Researchers are required to review the Research Conflict Policy and complete a training program on financial conflicts of interest in research at least every four years. The Institute takes very seriously its obligation to report any financial conflicts of interest to the National Institute of Health and encourages all researchers to fully disclose any and all potential conflicts for review by the independent members of the Board of Directors. To the extent that the independent members of the Board of Directors determine that a significant conflict exists, the following conditions and restrictions could be imposed: public disclosure of the conflict, monitoring of the research by independent reviewers, modification of the research plan or removal of the affected researcher from the research, divestiture of significant financial interests, or severance of the relationship that creates the actual or potential conflicts. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The Presidents compensation was reviewed and approved by the disinterested members of the Board of Directors in 2015. In determining whether the amount of compensation was reasonable, the disinterested members of the Board reviewed and discussed the proposed compensation arrangement and carefully considered the background, education, professional experience, skills and achievements of Dr. Ghassan Kassab, the unique qualities to the Institute to fill the position of President and Chief Scientific Officer, and the reports of compensation levels paid by other similar organizations according to the Economic Institute Report. The disinterested members of the Board also reviewed and relied upon the opinion of counsel that the compensation proposed to be paid to Dr. Kassab was within the range that would be expected for an employee with Dr. Kassabs unique expertise, performing the specified duties for an organization of the size of the Institute. The decision of the Board of Directors was documented in the minutes of the meeting where the compensation was discussed. Dr. Kassab and Demetri Andrikos (who was deemed to be an interested Director with respect to Dr. Kassab), both left the meeting prior to the vote and abstained from the vote. Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection The Institute makes its application and return available to the public upon request. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The Institute makes its governing documents, conflicts of interest policies, and financial statements available to the public upon request. Other Changes In Net Assets Or Fund Balances - Other Decreases VENDOR SERVICE EXPENSES = -$53501