Civic Intelligence

Usher III Initiative Inc.

990 • Fiscal year 2017 • EIN 27-2523450

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 14, 2018

Organization ProfileWWW.USHERIII.ORG
191 N Wacker Drive No 1790Chicago, IL 60606

(312) 896-2509

Siviq Scores

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

Liabilities / Assets

80th percentile

0.14x

Higher debt load relative to assets than 80% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

87th percentile

0.20x

Higher debt load relative to revenue than 87% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

4th percentile

-112%

Higher net margin than 4% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Balance Sheet
Liabilities / Assets80th percentile

Assets

$477,453

No earlier filing loaded for comparison.

Net Assets

$410,189

No earlier filing loaded for comparison.

Liabilities

$67,264

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin4th percentile

Revenue

$331,406

No earlier filing loaded for comparison.

Expenses

$701,513

No earlier filing loaded for comparison.

Net Income

-$370,107

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2017

Assets$477,453
Liabilities$67,264
Net Assets$410,189
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2017

Revenue$331,406
Expenses$701,513
Net Income-$370,107
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$331,406
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
Cash and Non-Interest-Bearing Accounts$799,803$477,453▼ $322,350
Total Assets$799,803$477,453▼ $322,350
Liabilities
Accounts Payable and Accrued Expenses$19,507$67,264▲ $47,757
Total Liabilities$19,507$67,264▲ $47,757
Net Assets / Fund Balance
Unrestricted Net Assets$464,761$410,189▼ $54,572
Temporarily Rstr Net Assets$315,535$0▼ $315,535
Total Net Assets Fund Balance$780,296$410,189▼ $370,107
Total Liabilities and Net Assets / Fund Balance$799,803$477,453▼ $322,350
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Richard EldenChairman
Cynthia EldenPresident
Dr Paul SternbergDirector
Dr Samir PatelDirector
Frank MeyerDirector
Mark AckermannDirector
Therese StochSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$331,406
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$331,406
Change in Net Assets
$-370,107

Audited Revenue Reconciliation

Revenue per Audited Statements
$331,406
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$22,746
Total Revenue per Audited Statements
$354,152
Total Revenue per Form 990
$331,406
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$539,770
Grants and Similar Amounts Paid$161,743
Total Fundraising Expense$96
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$348,605$116,202-$464,807
Grants to Domestic Orgs$161,743--$161,743
Fees for Services Other$47,747$11,937-$59,684
Fees for Services Accounting-$9,000-$9,000
Travel$318--$318
Other Expenses$1,418$555$96$96
Total Functional Expenses$561,777$139,640$96$701,513

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$724,259
Expenses per Audited Statements$701,513
Total Expenses per Form 990$701,513
Expenses Not Reported on Form 990$22,746
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Case Western Reserve UniversityCleveland, OH509(a)(1)To Support Operations Through Research$100,000
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Richard elden is the father of cynthia elden.”

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 2.) whether partnerships, joint ventures and arrangements with management organizations conform to the organization's written policies, are properly recorded,”

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 NO 1790, CHICAGO, IL 60606

Signing Officer

Name
CPA
Title
Treasurer
Phone
3128962509
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cynthia Elden
Formed
2010
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
5

Preparer

Firm
Sassetti LLC
Address
6611 NORTH AVENUE, OAK PARK, IL 60302
Preparer
Jeff Schroeder
Phone
7083861433
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“There was no change in the oversight process for the audit from the previous fiscal year.”

Raw XML Appendix368 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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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0TO MONITOR THE USE OF GRANTS, THE ORGANIZATION REQUIRES QUARTERLY PROGRESS REPORTS AND QUARTERLY FINANCIAL STATEMENTS TO MANAGEMENT. ANY RECIPIENT FOUND TO BE EITHER USING FUNDS INAPPROPRIATELY OR MAKING INSUFFICIENT PROGRESS IS PROHIBITED FROM RECEIVING FUTURE FUNDS UNTIL CORRECTIVE ACTIONS ARE TAKEN.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RICHARD ELDEN IS THE FATHER OF CYNTHIA ELDEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE TREASURER. A COPY IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TO 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 2.) WHETHER PARTNERSHIPS, JOINT VENTURES AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS CONFORM TO THE ORGANIZATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED,
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF FORMS 990 AND 1023 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS FOR THE AUDIT FROM THE PREVIOUS FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalCompGreaterThan150KInd00
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt096
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0139640
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0561777
IRS990/TotalFunctionalExpensesGrp/TotalAmt0701513
IRS990/TotalGrossUBIAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0780296
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0331406
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TravelGrp/TotalAmt0318
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0464761
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0410189
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0191 N WACKER DRIVE NO 1790
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IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060606
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.USHERIII.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CPA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03128962509
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0USHER III INITIATIVE INC
ReturnHeader/Filer/BusinessNameControlTxt0USHE
ReturnHeader/Filer/EIN0272523450
ReturnHeader/Filer/PhoneNum03128962509
ReturnHeader/Filer/USAddress/AddressLine1Txt0191 N WACKER DRIVE NO 1790
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId02044719FEB8C15E50051C655287DED62830B7863
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.15.34.189
ReturnHeader/FilingSecurityInformation/IPDt02018-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm017:22:11
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362239746
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SASSETTI LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06611 NORTH AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OAK PARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060302
ReturnHeader/PreparerPersonGrp/PhoneNum07083861433
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFF SCHROEDER
ReturnHeader/ReturnTs02018-11-13T17:45:33-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$477,453
Liabilities
$67,264
Net assets
$410,189
Revenue
$331,406
Expenses
$701,513
Net income
-$370,107
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.79$0.13$2.65$1.42$0.87$0.55
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.14$0.03$2.10$0.87$0.73$0.14
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.08$0.12$1.96$1.77$0.92$0.85
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.34$0.22$1.11$2.47$1.95$0.52
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.06$0.60$1.00$0.97$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.65$0.09$0.56$0.79$0.84$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.68$0.06$0.61$0.77$0.57$0.20
2017Detailed filing. Detailed filing data is available for this year.$0.48$0.07$0.41$0.33$0.70$0.37