Civic Intelligence

Ibio Institute

990 • Fiscal year 2017 • EIN 32-0092551

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

171 N Aberdeen Street No 400Chicago, IL 60607

(312) 422-1111

Siviq Scores

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

Liabilities / Assets

76th percentile

0.41x

Higher debt load relative to assets than 76% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

66th percentile

0.23x

Higher debt load relative to revenue than 66% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

32nd percentile

-2.4%

Higher net margin than 32% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

55th percentile

4.8%

Faster asset growth than 55% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

23rd percentile

-7.8%

Faster revenue growth than 23% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$629,770

Up $28,799 (+4.8%) from 2016

Net Assets

Down

$372,821

Down $48,748 (-12%) from 2016

Liabilities

Up

$256,949

Up $77,547 (+43%) from 2016

Revenue

Down

$1,138,462

Down $96,972 (-7.8%) from 2016

Expenses

Down

$1,166,210

Down $503,593 (-30%) from 2016

Net Income

Up

-$27,748

Up $406,621 (+94%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2011: $928,231Liabilities 2011: $2,313Net Assets 2011: $925,9182011Assets 2012: $1,357,997Liabilities 2012: $1,609Net Assets 2012: $1,356,3882012Assets 2016: $600,971Liabilities 2016: $179,402Net Assets 2016: $421,5692016Assets 2017: $629,770Liabilities 2017: $256,949Net Assets 2017: $372,8212017Assets 2018: $533,293Liabilities 2018: $288,191Net Assets 2018: $245,1022018Assets 2019: $432,926Liabilities 2019: $331,049Net Assets 2019: $101,8772019Assets 2020: $1,029,520Liabilities 2020: $435,859Net Assets 2020: $593,6612020Assets 2021: $850,482Liabilities 2021: $337,156Net Assets 2021: $513,3262021Assets 2022: $581,603Liabilities 2022: $314,180Net Assets 2022: $267,4232022Assets 2023: $939,285Liabilities 2023: $351,873Net Assets 2023: $587,4122023Assets 2024: $989,394Liabilities 2024: $453,875Net Assets 2024: $535,5192024

Highlighted filing

2017

Assets$629,770
Liabilities$256,949
Net Assets$372,821

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2011: $645,0312011Expenses 2012: $757,5182012Revenue 2016: $1,235,434Expenses 2016: $1,669,803Net Income 2016: -$434,3692016Revenue 2017: $1,138,462Expenses 2017: $1,166,210Net Income 2017: -$27,7482017Revenue 2018: $514,304Expenses 2018: $642,023Net Income 2018: -$127,7192018Revenue 2019: $319,573Expenses 2019: $426,829Net Income 2019: -$107,2562019Revenue 2020: $1,376,485Expenses 2020: $884,701Net Income 2020: $491,7842020Revenue 2021: $573,324Expenses 2021: $632,598Net Income 2021: -$59,2742021Revenue 2022: $304,309Expenses 2022: $554,711Net Income 2022: -$250,4022022Revenue 2023: $721,227Expenses 2023: $390,470Net Income 2023: $330,7572023Revenue 2024: $168,075Expenses 2024: $485,412Net Income 2024: -$317,3372024

Highlighted filing

2017

Revenue$1,138,462
Expenses$1,166,210
Net Income-$27,748
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$1,297,184
Mission and Program Overview

Mission

To orchestrate business leadership in delivery of world-class educational programs and job-creating new technology ventures.

To create a globally recognized biotechnology center in chicago and the surrounding midwest region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$149,068$188,511▲ $39,443
Pledges and Grants Receivable$32,273--
Accounts Receivable-$12,150-
Prepaid Expenses and Deferred Charges$21,448$10,100▼ $11,348
Savings and Temporary Cash Investments$18,785$9,927▼ $8,858
Land, Buildings, and Equipment, Net$8,762$6,036▼ $2,726
Total Assets$600,971$629,770▲ $28,799
Other Assets Total$370,635$403,046▲ $32,411
Liabilities
Accounts Payable and Accrued Expenses$50,358$146,062▲ $95,704
Grants Payable$119,044$88,887▼ $30,157
Deferred Revenue$10,000$22,000▲ $12,000
Total Liabilities$179,402$256,949▲ $77,547
Net Assets / Fund Balance
Temporarily Rstr Net Assets$68,084$419,686▲ $351,602
Unrestricted Net Assets$353,485$-46,865▼ $400,350
Total Net Assets Fund Balance$421,569$372,821▼ $48,748
Total Liabilities and Net Assets / Fund Balance$600,971$629,770▲ $28,799

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,036$10,090$16,126
Other Assets Org$21,501--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Walt JohnstonChairperson
Linda FriedmanChairperson - Past
John ConradPresident & CEO
Azmi NabulsiDirector
Kevin LynchDirector
Marilyn VetterDirector
Paul BloomDirector
Ethan MeersDirector - Past
Ann VogelSenior VP, Educate
Barbara GoodmanSenior VP, Propel
Revenue and Support

Revenue Composition

Contributions and Grants
$1,065,451
Program Service Revenue
$51,562
Investment Income
$0
Other Revenue
$21,449
All Other Contributions
$1,032,826
Change in Net Assets
$-27,748

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,138,462
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,138,462
Total Revenue per Form 990
$1,138,462
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$646,072
Salaries, Compensation, and Employee Benefits$448,963
Total Fundraising Expense$166,720
Grants and Similar Amounts Paid$71,175
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$331,461-$44,372$375,833
Fees for Services Other$158,118$65$72,000$230,183
Occupancy$161,195-$23,928$185,123
Grants to Domestic Orgs$71,175--$71,175
Conferences and Meetings$53,995$50$11,920$65,965
Fees for Services Accounting-$54,749-$54,749
Payroll Taxes$27,747$196$3,665$31,608
Other Employee Benefits$27,435-$3,124$30,559
Travel$22,719-$2,638$25,357
Office Expenses$9,236$9,886$423$19,545
Information Technology$2,922$7,173$3,117$13,212
Pension Plan Contributions$9,587$88$1,288$10,963
Insurance$99$9,820-$9,919
Advertising$9,667-$245$9,912
Other Expenses$3,331--$3,331
Depreciation Depletion-$2,726-$2,726
Total Functional Expenses$914,737$84,753$166,720$1,166,210

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,166,210
Total Expenses per Audited Statements$1,166,210
Total Expenses per Form 990$1,166,210
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Third Coast TherapeuticsEvanston, ILN/aPropel Award Program$34,300
Edge SurgicalChicago, ILN/aPropel Award Program$15,750
BbcetcChelsea, MIN/aFunding to Support Chicago Innovation Mentors Entrepreneurship Program.$15,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$177,365
Fundraising Direct Expenses$158,722
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Icon Awards$209,990$177,365$71,156$106,209
Total Events$209,990$177,365$158,722$18,643
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization contracts with an unrelated human resources outsourcing company to provide staffing solutions for the organization's operations. The officers and employees are issued form w-2's by the human resources company. The organization reimburses the human resources company for the salaries, wages, benefits, and payroll taxes of the officers and employees. The staffing reimbursement is allocated accordingly to lines 7,8,9,and 10 of part ix of form 990. The fees paid to the human resources on line 11g of part ix of form 990. In addition, the total payments made to the human resources company, including reimbursements for salaries, wages, benefits, and payroll taxes of the officers and employees, are reported in section b of part vii of form 990.

Form 990, Part VI, Section A, Line 8B

There are no committees with authority to act on behalf of the board of directors.

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

The 990 is presented to the president & ceo of the organization who has board given authority to act on all financial operations of the organization. A copy of the form 990 is also provided to all members of the governing body.

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

The principal officer and directors must annually certify a conflict of interest policy acknowledgement. The institute has specific procedural safeguards for resolving potential conflicts of interest and addressing any violations of its conflict of interest policy. In addition, the institute conducts periodic reviews of compensation arrangements for reasonableness and compliance with charitable, tax-exempt restrictions.

Form 990, Part VI, Section B, Line 15

The president & ceo of the institute is also the president & ceo of ibio. During the fiscal year, the president & ceo was compensated entirely by ibio. As such, ibio's executive committee is responsible for determining the compensation of its president & ceo.

Form 990, Part VI, Section C, Line 19

Financials and governing documents are available at the organization's office. The documents will be made available upon timely notification of inspection.

Filing and Contact Details

Filer

Filer Name
Ibio Institute
EIN
32-0092551
Phone
3124221111
Address
171 N ABERDEEN STREET NO 400, CHICAGO, IL 60607

Signing Officer

Name
John Conrad
Title
President and CEO
Phone
3124221111
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Conrad
Formed
2003
Legal Domicile
Il
Voting Board Members
10
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Legacy Professionals Llp
Address
4 WESTBROOK CORPORATE CTR 700, WESTCHESTER, IL 60154
Preparer
Rose Doherty
Phone
3123680500
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consultants: program service expenses 158,118. Management and general expenses 65. Fundraising expenses 72,000. Total expenses 230,183.

Form 990, Part IX, Line 24C.

The indirect allocation, reported on line 24c, results in a negative balance. This negative balance represents the allocation of indirect expenses to the other functions.

Financial Statement Notes

PART X, LINE 2:

The institute is an organization described in section 501(c)(3) of the internal revenue code and thus is generally not subject to tax. In addition, the internal revenue service has determined that the institute is not a private foundation within the meaning of section 509(a) of the internal revenue code. The institute qualifies under section 170(b)(1)(a) to receive deductible charitable contributions. Although the institute is subject to tax on any unrelated business income, no provision for income taxes was considered necessary for the years ended december 31, 2017 and 2016. The institute files form 990, return of organization exempt from income tax, with the internal revenue service. Accounting principles generally accepted in the united states of america require the insitute to evaluate tax positions taken by the institute and recognize a tax liability if the insitute has taken an uncertain position that more likely than not would not be sustained upon examination by tax authorities. The institute is subject to routine audits by taxing jursidicitions, however, there are currently no audits for any tax periods in progress.

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IRS990/OccupancyGrp/ProgramServicesAmt0161195
IRS990/OccupancyGrp/TotalAmt0185123
IRS990/OfficeExpensesGrp/FundraisingAmt0423
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt09886
IRS990/OfficeExpensesGrp/ProgramServicesAmt09236
IRS990/OfficeExpensesGrp/TotalAmt019545
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0370635
IRS990/OtherAssetsTotalGrp/EOYAmt0403046
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt03124
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt027435
IRS990/OtherEmployeeBenefitsGrp/TotalAmt030559
IRS990/OtherExpensesGrp/Desc0STEM CAMP STIPENDS
IRS990/OtherExpensesGrp/Desc1RESEARCH EXPENSE
IRS990/OtherExpensesGrp/Desc2OTHER WORKSHOP EXPENSES
IRS990/OtherExpensesGrp/ProgramServicesAmt014800
IRS990/OtherExpensesGrp/ProgramServicesAmt111250
IRS990/OtherExpensesGrp/ProgramServicesAmt23331
IRS990/OtherExpensesGrp/TotalAmt014800
IRS990/OtherExpensesGrp/TotalAmt111250
IRS990/OtherExpensesGrp/TotalAmt23331
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/ExclusionAmt02806
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt02806
IRS990/OtherRevenueTotalAmt02806
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt044372
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0331461
IRS990/OtherSalariesAndWagesGrp/TotalAmt0375833
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt03665
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0196
IRS990/PayrollTaxesGrp/ProgramServicesAmt027747
IRS990/PayrollTaxesGrp/TotalAmt031608
IRS990/PensionPlanContributionsGrp/FundraisingAmt01288
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt088
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt09587
IRS990/PensionPlanContributionsGrp/TotalAmt010963
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt032273
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt021448
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt010100
IRS990/PrincipalOfficerNm0JOHN CONRAD
IRS990/PriorPeriodAdjustmentsAmt0-21000
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541711
IRS990/ProgramServiceRevenueGrp/BusinessCd1541711
IRS990/ProgramServiceRevenueGrp/BusinessCd2541711
IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc1WORKSHOPS
IRS990/ProgramServiceRevenueGrp/Desc2PATIENT ADVOCACY MEMBERSHIP
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt029047
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt122015
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt029047
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt122015
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2500
IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATE - DELIVERS INDUSTRY-LED SCIENCE AND MATH PROGRAMS TO TEACHERS AND STUDENTS, THEREBY CONNECTING CLASSROOMS TO REAL WORLD BIOTECHNOLOGY AND SCIENCE-BASED INDUSTRY AND INSPIRING THE NEXT GENERATION OF INNOVATORS AND HELPING RESTORE AMERICA'S LEADERSHIP IN TECHNOLOGY EDUCATION.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0296411
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt022015
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0113594
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0964709
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0158967
IRS990/PYInvestmentIncomeAmt03533
IRS990/PYOtherExpensesAmt0726584
IRS990/PYOtherRevenueAmt0152263
IRS990/PYProgramServiceRevenueAmt0114929
IRS990/PYRevenuesLessExpensesAmt0-434369
IRS990/PYSalariesCompEmpBnftPaidAmt0784252
IRS990/PYTotalExpensesAmt01669803
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01235434
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/ReconcilationRevenueExpnssAmt0-27748
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt029547
IRS990/SavingsAndTempCashInvstGrp/BOYAmt018785
IRS990/SavingsAndTempCashInvstGrp/EOYAmt09927
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01032824
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0964709
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01225213
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0648216
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01138860
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt05009822
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt03533
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0102
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0190
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0186
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04011
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt023650
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt05544
IRS990ScheduleA/OtherIncome170Grp/TotalAmt05544
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.76720
IRS990ScheduleA/PublicSupportPY170Pct00.77020
IRS990ScheduleA/PublicSupportTotal170Amt03850900
IRS990ScheduleA/SubstantialContributorsTotAmt01158922
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01032824
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0964709
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01225213
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0648216
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01138860
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt05009822
IRS990ScheduleA/TotalSupportAmt05019377
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt06036
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010090
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt016126
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01166210
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0381545
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt121501
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM IBIO
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01138462
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INSTITUTE IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THUS IS GENERALLY NOT SUBJECT TO TAX. IN ADDITION, THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE INSTITUTE IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE. THE INSTITUTE QUALIFIES UNDER SECTION 170(B)(1)(A) TO RECEIVE DEDUCTIBLE CHARITABLE CONTRIBUTIONS. ALTHOUGH THE INSTITUTE IS SUBJECT TO TAX ON ANY UNRELATED BUSINESS INCOME, NO PROVISION FOR INCOME TAXES WAS CONSIDERED NECESSARY FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016. THE INSTITUTE FILES FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, WITH THE INTERNAL REVENUE SERVICE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE THE INSITUTE TO EVALUATE TAX POSITIONS TAKEN BY THE INSTITUTE AND RECOGNIZE A TAX LIABILITY IF THE INSITUTE HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. THE INSTITUTE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURSIDICITIONS, HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06036
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0403046
IRS990ScheduleD/TotalExpensesPerForm990Amt01166210
IRS990ScheduleD/TotalRevenuePerForm990Amt01138462
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01138462
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01166210
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt032625
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt032625
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0158722
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ICON AWARDS
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt057548
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt057548
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0209990
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0209990
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0177365
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0177365
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt018643
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt071156
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt071156
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt030018
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt030018
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt015000
IRS990ScheduleI/RecipientTable/CashGrantAmt134300
IRS990ScheduleI/RecipientTable/CashGrantAmt215750
IRS990ScheduleI/RecipientTable/IRCSectionDesc0N/A
IRS990ScheduleI/RecipientTable/IRCSectionDesc1N/A
IRS990ScheduleI/RecipientTable/IRCSectionDesc2N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc1N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc2N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FUNDING TO SUPPORT CHICAGO INNOVATION MENTORS ENTREPRENEURSHIP PROGRAM.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1PROPEL AWARD PROGRAM
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2PROPEL AWARD PROGRAM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BBCETC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1THIRD COAST THERAPEUTICS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2EDGE SURGICAL
IRS990ScheduleI/RecipientTable/RecipientEIN0382971806
IRS990ScheduleI/RecipientTable/RecipientEIN1463055758
IRS990ScheduleI/RecipientTable/RecipientEIN2475659714
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt012671 E OLD US 12
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11555 SHERMAN AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2222 W MERCHANDISE MART SUITE 1230
IRS990ScheduleI/RecipientTable/USAddress/CityNm0CHELSEA
IRS990ScheduleI/RecipientTable/USAddress/CityNm1EVANSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm2CHICAGO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MI
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1IL
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2IL

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