Civic Intelligence

Usher III Initiative Inc

EIN 27-2523450 • 501(c)3 • Chicago, IL

Profile

To achieve its goal of developing a treatment to slow or reverse the vision loss associated with usher iii, the initiative has pursued an approach that focuses on small molecule chaperone therapy.

191 N Wacker Drive 1790Chicago, IL 60606

www.usheriii.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

46th percentile

0.05x

Higher debt load relative to assets than 46% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

53rd percentile

0.09x

Higher debt load relative to revenue than 53% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

85th percentile

39%

Higher net margin than 85% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

74th percentile

16%

Faster asset growth than 74% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

21st percentile

-10%

Faster revenue growth than 21% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Assets

Up

$2,787,543

Up $651,529 (+31%) from 2023

Liabilities

Up

$134,607

Up $102,676 (+322%) from 2023

Net Assets

Up

$2,652,936

Up $548,853 (+26%) from 2023

Revenue

Up

$1,421,660

Up $547,252 (+63%) from 2023

Expenses

Up

$872,807

Up $140,305 (+19%) from 2023

Net Income

Up

$548,853

Up $406,947 (+287%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2017: $477,453Liabilities 2017: $67,264Net Assets 2017: $410,1892017Assets 2018: $675,782Liabilities 2018: $61,900Net Assets 2018: $613,8822018Assets 2019: $653,017Liabilities 2019: $89,194Net Assets 2019: $563,8232019Assets 2020: $651,795Liabilities 2020: $56,000Net Assets 2020: $595,7952020Assets 2021: $1,337,377Liabilities 2021: $222,693Net Assets 2021: $1,114,6842021Assets 2022: $2,080,401Liabilities 2022: $118,224Net Assets 2022: $1,962,1772022Assets 2023: $2,136,014Liabilities 2023: $31,931Net Assets 2023: $2,104,0832023Assets 2024: $2,787,543Liabilities 2024: $134,607Net Assets 2024: $2,652,9362024

Highlighted filing

2024

Assets$2,787,543
Liabilities$134,607
Net Assets$2,652,936

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $331,406Expenses 2017: $701,513Net Income 2017: -$370,1072017Revenue 2018: $770,845Expenses 2018: $567,152Net Income 2018: $203,6932018Revenue 2019: $788,460Expenses 2019: $838,519Net Income 2019: -$50,0592019Revenue 2020: $999,354Expenses 2020: $967,382Net Income 2020: $31,9722020Revenue 2021: $2,469,529Expenses 2021: $1,950,640Net Income 2021: $518,8892021Revenue 2022: $1,771,984Expenses 2022: $924,491Net Income 2022: $847,4932022Revenue 2023: $874,408Expenses 2023: $732,502Net Income 2023: $141,9062023Revenue 2024: $1,421,660Expenses 2024: $872,807Net Income 2024: $548,8532024

Highlighted filing

2024

Revenue$1,421,660
Expenses$872,807
Net Income$548,853

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 10, 2023
Return Version
2022v5.0
Gross Receipts
$1,771,984
Mission and Program Overview

Mission

To achieve its goal of developing a treatment to slow or reverse the vision loss associated with usher iii, the initiative has pursued an approach that focuses on small molecule chaperone therapy.

To identify therapies, treatments and a cure for usher syndrome type iii.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$884,143$1,732,197▲ $848,054
Accounts Receivable$333,234$98,204▼ $235,030
Total Assets$1,337,377$2,080,401▲ $743,024
Other Assets Total$120,000$250,000▲ $130,000
Liabilities
Accounts Payable and Accrued Expenses$222,693$118,224▼ $104,469
Total Liabilities$222,693$118,224▼ $104,469
Net Assets / Fund Balance
Net Assets With Donor Restrictions$456,477$1,316,215▲ $859,738
Net Assets Without Donor Restrictions$658,207$645,962▼ $12,245
Total Net Assets Fund Balance$1,114,684$1,962,177▲ $847,493
Total Liabilities and Net Assets / Fund Balance$1,337,377$2,080,401▲ $743,024

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$250,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Cynthia EldenPresident
Dr David SapersteinDirector
Dr Julia HayesDirector
Dr Paul Sternberg JrDirector
James C MurrayDirector
Mark AckermannDirector
Michael KrainesDirector
Alicia DerrahTreasurer, Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,771,009
Program Service Revenue
$0
Investment Income
$975
Other Revenue
$0
All Other Contributions
$1,771,009
Change in Net Assets
$847,493

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$467,600Fair Market Value
Art Historical Treasures1$130,000Fair Value
Total Noncash Contributions2$597,600-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,771,984
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$41,438
Total Revenue per Audited Statements
$1,813,422
Total Revenue per Form 990
$1,771,984
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$924,491
Total Fundraising Expense$28,157
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$536,613--$536,613
Fees for Services Legal$64,800$32,699-$97,499
Fees for Services Accounting$8,324$4,201-$12,525
Office Expenses$4,212$4,212-$8,424
Other Expenses$186,761$75$1,477$75
Total Functional Expenses$800,710$95,624$28,157$924,491

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$965,929
Expenses per Audited Statements$924,491
Total Expenses per Form 990$924,491
Expenses Not Reported on Form 990$41,438
Expenses Not Reported on Financial Statements$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$873,660

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumProgram ServicesMedical Research00$873,660
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization has members.

Form 990, Part VI, Section A, Line 7A

Members have the power to elect the governing board, and the power to remove directors.

Form 990, Part VI, Section A, Line 7B

Any amendments to the bylaws must be approved by both the members and directors.

Form 990, Part VI, Section B, Line 11B

Form 990 is reviewed by the treasurer. A copy is provided to all board members prior to filing.

Form 990, Part VI, Section B, Line 12C

To ensure the organization operates in a manner consistent with its charitable purpose and does not engage in activities that could jeopardize its tax exempt status, periodic reviews shall be conducted to determine whether 1.) compensation agreements and benefits are reasonable, and that 2.) all officers and directors file annual conflicts statements that is reviewed by the treasurer and legal counsel and, if required, escalated to the board for review.

Form 990, Part VI, Section C, Line 18

Copies of forms 990 and 1023 are available upon request.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Usher Iii Initiative Inc
EIN
27-2523450
Phone
3128962509
Address
191 N WACKER DRIVE 1790, CHICAGO, IL 60606

Signing Officer

Name
Alicia Derrah
Title
Treasurer
Phone
3128962509
Signed
2023-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alicia Derrah
Formed
2010
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
10

Preparer

Firm
Sassetti LLC
Address
2107 SWIFT DRIVE SUITE 210, OAK BROOK, IL 60523
Preparer
Jeff Schroeder
Phone
7083861433
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Medical research: program service expenses 536,613. Management and general expenses 0. Fundraising expenses 0. Total expenses 536,613.

Raw XML AppendixShowing 400 of 414 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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/DonatedServicesUseFcltsAmt041438
IRS990ScheduleD/ExpensesNotReportedAmt041438
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0924491
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0250000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DONATED ARTWORK AT APPRAISED VALUE
IRS990ScheduleD/RevenueNotReportedAmt041438
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01771984
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0250000
IRS990ScheduleD/TotalExpensesPerForm990Amt0924491
IRS990ScheduleD/TotalRevenuePerForm990Amt01771984
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01813422
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0965929
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0873660
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0MEDICAL RESEARCH
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0PROGRAM SERVICES
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt0873660
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III ACCOUNTING METHOD:
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt0873660
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/ArtHistoricalTreasuresGrp/ContributionCnt01
IRS990ScheduleM/ArtHistoricalTreasuresGrp/MethodOfDeterminingRevenuesTxt0FAIR VALUE
IRS990ScheduleM/ArtHistoricalTreasuresGrp/NonCashCheckboxInd0X
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IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt01
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS HAVE THE POWER TO ELECT THE GOVERNING BOARD, AND THE POWER TO REMOVE DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY AMENDMENTS TO THE BYLAWS MUST BE APPROVED BY BOTH THE MEMBERS AND DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS REVIEWED BY THE TREASURER. A COPY IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH ITS CHARITABLE PURPOSE AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED TO DETERMINE WHETHER 1.) COMPENSATION AGREEMENTS AND BENEFITS ARE REASONABLE, AND THAT 2.) ALL OFFICERS AND DIRECTORS FILE ANNUAL CONFLICTS STATEMENTS THAT IS REVIEWED BY THE TREASURER AND LEGAL COUNSEL AND, IF REQUIRED, ESCALATED TO THE BOARD FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COPIES OF FORMS 990 AND 1023 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MEDICAL RESEARCH: PROGRAM SERVICE EXPENSES 536,613. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 536,613.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt02080401
IRS990/TotalAssetsGrp/BOYAmt01337377
IRS990/TotalAssetsGrp/EOYAmt02080401
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01771009
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt028157
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt095624
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0800710
IRS990/TotalFunctionalExpensesGrp/TotalAmt0924491
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0222693
IRS990/TotalLiabilitiesEOYAmt0118224
IRS990/TotalLiabilitiesGrp/BOYAmt0222693
IRS990/TotalLiabilitiesGrp/EOYAmt0118224
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01114684
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01962177
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0800710
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0975
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01771984
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01337377
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02080401
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0191 N WACKER DRIVE 1790
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060606
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.USHERIII.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ALICIA DERRAH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03128962509
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0USHER III INITIATIVE INC
ReturnHeader/Filer/BusinessNameControlTxt0USHE
ReturnHeader/Filer/EIN0272523450
ReturnHeader/Filer/PhoneNum03128962509
ReturnHeader/Filer/USAddress/AddressLine1Txt0191 N WACKER DRIVE 1790
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362239746
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SASSETTI LLC

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