Civic Intelligence

Fogarty Institute for Innovation

990 • Fiscal year 2013 • EIN 11-3800306

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 11, 2014

Organization Profilewww.fogartyinstitute.org

View Organization Page

2490 Hospital DriveMountain View, CA 94040

(650) 962-4560

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

42nd percentile

0.13x

Higher debt load relative to assets than 42% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Liabilities / Revenue

56th percentile

0.24x

Higher debt load relative to revenue than 56% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Net Margin

83rd percentile

29%

Higher net margin than 83% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Top Officer Pay

93rd percentile

$451,072

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 11.7% of source-year revenue.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Asset Growth

40th percentile

0.2%

Faster asset growth than 40% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2012 to 2013

Revenue Growth

76th percentile

21%

Faster revenue growth than 76% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2011 to 2013

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Up

$7,383,465

Up $17,447 (+0.2%) from 2012

Net Assets

Down

$6,444,450

Down $41,743 (-0.6%) from 2012

Liabilities

Up

$939,015

Up $59,190 (+6.7%) from 2012

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin83rd percentile

Revenue

$3,840,000

No earlier filing loaded for comparison.

Expenses

Up

$2,730,547

Up $725,270 (+36%) from 2012

Net Income

$1,109,453

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2011: $5,691,965Liabilities 2011: $848,249Net Assets 2011: $4,843,7162011Assets 2012: $7,366,018Liabilities 2012: $879,825Net Assets 2012: $6,486,1932012Assets 2013: $7,383,465Liabilities 2013: $939,015Net Assets 2013: $6,444,4502013Assets 2014: $8,790,328Liabilities 2014: $1,003,984Net Assets 2014: $7,786,3442014Assets 2015: $8,350,031Liabilities 2015: $710,977Net Assets 2015: $7,639,0542015Assets 2016: $8,578,033Liabilities 2016: $524,922Net Assets 2016: $8,053,1112016Assets 2017: $10,477,212Liabilities 2017: $501,673Net Assets 2017: $9,975,5392017Assets 2018: $9,262,396Liabilities 2018: $236,131Net Assets 2018: $9,026,2652018Assets 2019: $5,929,392Liabilities 2019: $189,029Net Assets 2019: $5,740,3632019Assets 2020: $14,113,011Liabilities 2020: $2,389,678Net Assets 2020: $11,723,3332020Assets 2021: $12,713,454Liabilities 2021: $3,323,728Net Assets 2021: $9,389,7262021Assets 2022: $26,940,908Liabilities 2022: $12,196,466Net Assets 2022: $14,744,4422022Assets 2023: $21,350,391Liabilities 2023: $11,020,749Net Assets 2023: $10,329,6422023Assets 2024: $14,483,174Liabilities 2024: $9,985,317Net Assets 2024: $4,497,8572024

Highlighted filing

2013

Assets$7,383,465
Liabilities$939,015
Net Assets$6,444,450
Open 2013 Filing

Operations Trend

Revenue Growth76th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2011: $2,630,386Expenses 2011: $1,454,651Net Income 2011: $1,175,7352011Expenses 2012: $2,005,2772012Revenue 2013: $3,840,000Expenses 2013: $2,730,547Net Income 2013: $1,109,4532013Revenue 2014: $5,451,698Expenses 2014: $3,797,335Net Income 2014: $1,654,3632014Revenue 2015: $3,061,420Expenses 2015: $3,375,733Net Income 2015: -$314,3132015Revenue 2016: $2,937,735Expenses 2016: $2,762,850Net Income 2016: $174,8852016Revenue 2017: $1,980,655Expenses 2017: $2,470,100Net Income 2017: -$489,4452017Revenue 2018: $1,986,981Expenses 2018: $2,582,375Net Income 2018: -$595,3942018Revenue 2019: $649,742Expenses 2019: $3,406,139Net Income 2019: -$2,756,3972019Revenue 2020: $10,818,703Expenses 2020: $4,573,097Net Income 2020: $6,245,6062020Revenue 2021: $3,362,432Expenses 2021: $6,010,426Net Income 2021: -$2,647,9942021Revenue 2022: $12,603,959Expenses 2022: $7,150,758Net Income 2022: $5,453,2012022Revenue 2023: $2,939,436Expenses 2023: $7,630,781Net Income 2023: -$4,691,3452023Revenue 2024: $2,887,855Expenses 2024: $7,841,457Net Income 2024: -$4,953,6022024

Highlighted filing

2013

Revenue$3,840,000
Expenses$2,730,547
Net Income$1,109,453
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 11, 2014
Return Version
2013v3.1
Gross Receipts
$3,888,663
Mission and Program Overview

Mission

The fogarty institute for innovation is dedicated to finding new ways to treat illnesses and improve the well-being of patients through the practical application of innovative ideas and the education and mentoring of medical innovators.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,187,269$2,831,074▲ $643,805
Pledges and Grants Receivable$3,707,139$2,731,292▼ $975,847
Investments Other Securities$514,207$783,477▲ $269,270
Land, Buildings, and Equipment, Net$266,712$215,750▼ $50,962
Other Notes and Loans Receivable, Net$203,015$194,531▼ $8,484
Prepaid Expenses and Deferred Charges$24,924$96,446▲ $71,522
Accounts Receivable-$32,170-
Cash and Non-Interest-Bearing Accounts-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$7,366,018$7,383,465▲ $17,447
Other Assets Total$462,752$498,725▲ $35,973
Liabilities
Other Liabilities$620,501$541,820▼ $78,681
Accounts Payable and Accrued Expenses$234,324$380,528▲ $146,204
Deferred Revenue$25,000$16,667▼ $8,333
Total Liabilities$879,825$939,015▲ $59,190
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,322,338$3,788,169▼ $534,169
Unrestricted Net Assets$2,163,855$2,656,281▲ $492,426
Total Net Assets Fund Balance$6,486,193$6,444,450▼ $41,743
Total Liabilities and Net Assets / Fund Balance$7,366,018$7,383,465▲ $17,447

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$166,595$295,194$461,789
Equipment$36,747$58,977$95,724
Other Land Buildings$12,408$8,750$21,158
Other Assets Org$498,725--
Closely Held Equity Interests$783,477--
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ann FyfeCEOFT$352,466$98,606$451,072
Mike NeedelsChief Operating OfficerFT$243,121$60,404$303,525
Betty DeBettencourtExec Director, Clinical ResearchFT$168,391$17,939$186,330
Starr McNamaraDirector Bus & FinFT$130,865$32,328$163,193
Deborah GairaudDirector HRFT$132,910$29,190$162,100

Board Members and Trustees

NameTitle
Frederick St Goar MDDirector
J Casey McGlynn MDDirector
Lewis Wexler MDDirector
Thomas Fogarty MDDirector
Tracy T LefteroffDirector
William R Brody MDDirector
John GoodrichSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
James JoyeChief Med Officer-$137,500
Revenue and Support

Revenue Composition

Contributions and Grants
$3,090,791
Program Service Revenue
$558,493
Investment Income
$73,132
Other Revenue
$117,584
All Other Contributions
$3,032,291
Change in Net Assets
$1,109,453

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,865,252
Revenue Not Reported on Financial Statements
$974,748
Revenue Not Reported on Form 990
$402,177
Other Revenue Adjustments
$974,748
Total Revenue per Audited Statements
$3,267,429
Total Revenue per Form 990
$3,840,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,348,560
Salaries, Compensation, and Employee Benefits$1,076,987
Grants and Similar Amounts Paid$305,000
Total Fundraising Expense$246,649
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$426,916$86,155$47,655$560,726
Current Officers, Directors, Trustees, and Key Employees$428,518$22,554-$451,072
Other Salaries and Wages$119,070$180,364$143,468$442,902
Grants to Domestic Orgs$305,000--$305,000
Occupancy$132,579$6,819$6,340$145,738
Other Employee Benefits$77,080$34,102$22,445$133,627
Depreciation Depletion$51,058$10,857-$61,915
Payroll Taxes$24,109$19,553$5,724$49,386
Office Expenses$18,441$11,052$7,680$37,173
Interest-$27,792-$27,792
Travel$20,478$445-$20,923
Other Expenses$5,364$1,745$1,036$8,145
Advertising$3,056$2,777-$5,833
All Other Expenses-$4,237-$4,237
Insurance-$3,786-$3,786
Total Functional Expenses$2,061,281$422,617$246,649$2,730,547

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,092,514
Total Expenses per Form 990$2,730,547
Expenses per Audited Statements$2,726,310
Expenses Not Reported on Form 990$366,204
Expenses Not Reported on Financial Statements$4,237
Other Expense Adjustments$4,237
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
27-5418458--Research and development$50,000
46-2726173--Research and development$50,000
46-0561283--Research and development$50,000
45-2586693--Research and development$40,000
45-3766877--Research and development$40,000
27-2492921--Research and development$25,000
46-1015850--Research and development$25,000
45-4096331--Research and development$25,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$166,247
Fundraising Direct Expenses$48,663
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$224,747$166,247$48,663$117,584
Total Events$224,747$166,247$48,663$117,584
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Thomas FogartyDirectorPurchase-donor functionsNo$2,000

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
El Camino Hospital$541,820
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Director of Business and Finance is responsible for maintaining the financial records of the Institute. The Form 990 is reviewed by the Director of Business and Finance and CEO for the Institute and furnished to the board of directors prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The board reviews the conflict of interest policy on an annual basis and inquires of the board members as to the existence of relationships or transactions that could give rise to a conflict.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Ms. Fyfe's salary is reviewed and approved by the board of directors. The review process involved approval by independent persons, review of comparability data and substantiation of deliberations.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The exemption application and Form 990 are available to the public upon request.”

Filing and Contact Details

Filer

EIN
11-3800306
Phone
6509624560

Signing Officer

Name
Ann Fyfe
Title
CEO
Signed
2014-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ann Fyfe
Formed
2006
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
5
Employees
21
Volunteers
8

Preparer

Preparer
John M Kikuchi
Phone
9259447662
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Adj for change in acct method = $4237”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Change in value - trusts = $35973”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Net adj for change in acct method = -$974748”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Subsidiary loss = -$216658”

Financial Statement Notes

Part X : FIN48 Footnote

“The Institute believes that it has appropriate support for any tax positions taken to date and, therefore, has no related income tax due for all years where the statute of limitations remains open. As a result, no provision for federal or state income taxes has been made in the accompanying consolidated financial statements.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Change in value of trusts $35973”

Part XI, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Adj for change in acct method $974748”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Adj to change in acct method $4237”

Raw XML AppendixShowing 400 of 755 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm0Tracy T Lefteroff
IRS990/Form990PartVIISectionAGrp/PersonNm1Thomas Fogarty MD
IRS990/Form990PartVIISectionAGrp/PersonNm2John Goodrich
IRS990/Form990PartVIISectionAGrp/PersonNm3Frederick St Goar MD
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IRS990/Form990PartVIISectionAGrp/PersonNm5J Casey McGlynn MD
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IRS990/Form990PartVIISectionAGrp/PersonNm9Mike Needels
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IRS990/Form990PartVIISectionAGrp/TitleTxt7CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt8Exec Director, Clinical Research
IRS990/Form990PartVIISectionAGrp/TitleTxt9Chief Operating Officer
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IRS990/ProgSrvcAccomActy2Grp/Desc0Grants and awards in support of medical education and innovation. Education Program. Through its Education program, the Fogarty Institute makes its unique mentoring capability available to a much larger audience than is possible with the Innovation Support program by providing workshops, seminars and internships to interested members of the medical innovation, clinician, and entrepreneur communities. In this way, we hope to not only support active innovators, but also inspire the next generation of medical innovators - such as college and high school students - who may be considering a career in medical innovation.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Clinical Research Program. Supports clinical research by providing efficient, high quality management services to clinical investigators, and provides opportunities for members of the community to participate in trials for innovative, cutting edge treatment options.
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Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,383,465
Liabilities
$939,015
Net assets
$6,444,450
Revenue
$3,840,000
Expenses
$2,730,547
Net income
$1,109,453
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.5$9.99$4.50$2.89$7.84$4.95
2023Detailed filing. Detailed filing data is available for this year.$21.4$11.0$10.3$2.94$7.63$4.69
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.9$12.2$14.7$12.6$7.15$5.45
2021Detailed filing. Detailed filing data is available for this year.$12.7$3.32$9.39$3.36$6.01$2.65
2020Detailed filing. Detailed filing data is available for this year.$14.1$2.39$11.7$10.8$4.57$6.25
2019Detailed filing. Detailed filing data is available for this year.$5.93$0.19$5.74$0.65$3.41$2.76
2018Detailed filing. Detailed filing data is available for this year.$9.26$0.24$9.03$1.99$2.58$0.60
2017Detailed filing. Detailed filing data is available for this year.$10.5$0.50$9.98$1.98$2.47$0.49
2016Detailed filing. Detailed filing data is available for this year.$8.58$0.52$8.05$2.94$2.76$0.17
2015Detailed filing. Detailed filing data is available for this year.$8.35$0.71$7.64$3.06$3.38$0.31
2014Detailed filing. Detailed filing data is available for this year.$8.79$1.00$7.79$5.45$3.80$1.65
2013Detailed filing. Detailed filing data is available for this year.$7.38$0.94$6.44$3.84$2.73$1.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.37$0.88$6.49$2.01
2011Summary only. Only limited summary data is available for this year.$5.69$0.85$4.84$2.63$1.45$1.18