Civic Intelligence

Ibio Institute

990 • Fiscal year 2019 • EIN 32-0092551

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

500 W Madison St No 1000Chicago, IL 60661

(312) 422-1111

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.76x

Higher debt load relative to assets than 93% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

1.04x

Higher debt load relative to revenue than 96% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

11th percentile

-34%

Higher net margin than 11% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

21st percentile

-19%

Faster asset growth than 21% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

14th percentile

-38%

Faster revenue growth than 14% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Down

$432,926

Down $100,367 (-19%) from 2018

Net Assets

Down

$101,877

Down $143,225 (-58%) from 2018

Liabilities

Up

$331,049

Up $42,858 (+15%) from 2018

Revenue

Down

$319,573

Down $194,731 (-38%) from 2018

Expenses

Down

$426,829

Down $215,194 (-34%) from 2018

Net Income

Up

-$107,256

Up $20,463 (+16%) from 2018

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

2019

Assets$432,926
Liabilities$331,049
Net Assets$101,877

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

2019

Revenue$319,573
Expenses$426,829
Net Income-$107,256
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$398,696
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$122,710$29,904▼ $92,806
Accounts Receivable$11,700$11,639▼ $61
Land, Buildings, and Equipment, Net$3,512$2,285▼ $1,227
Prepaid Expenses and Deferred Charges$3,161$970▼ $2,191
Total Assets$533,293$432,926▼ $100,367
Other Assets Total$392,210$388,128▼ $4,082
Liabilities
Other Liabilities$143,219$242,854▲ $99,635
Accounts Payable and Accrued Expenses$57,472$70,695▲ $13,223
Deferred Revenue$87,500$17,500▼ $70,000
Total Liabilities$288,191$331,049▲ $42,858
Net Assets / Fund Balance
Net Assets With Donor Restrictions$228,618$323,924▲ $95,306
Net Assets Without Donor Restrictions$16,484$-222,047▼ $238,531
Total Net Assets Fund Balance$245,102$101,877▼ $143,225
Total Liabilities and Net Assets / Fund Balance$533,293$432,926▼ $100,367

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,285$13,841$16,126
Other Assets Org$19,640--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Walt JohnsonChairman
John ConradPresident & CEO
Paul Bloom PhdVice Chair Food & Ag
John LarsonVice Chair Human Health
Ashish KhannaDirector
Brian MccarthyDirector
Charlie ToblerDirector
Dan LyneDirector
David FlowersDirector
Drue DruncanDirector
James WhiteDirector
John BatheryDirector
Marilyn VetterDirector
Michael FlavinDirector
Patrick GattariDirector
Salim MujaisDirector
Tim WalbertDirector
Jeff BergauNew Director
Nancy SullivanNew Director
Azmi NabulsiPast Director
Kevin LynchPast Director
Rae PaynePast Director
Steven DucommunCorporate Secretary
Gretchen JohnsonMember at Large
Mayebeth HadfieldMember at Large
Norbert RiedelMember at Large
Ann VogelSenior VP, Educate
Blaire KomasinskiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$356,816
Program Service Revenue
$4,245
Investment Income
$0
Other Revenue
$-41,488
All Other Contributions
$224,871
Change in Net Assets
$-107,256
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$329,984
Salaries, Compensation, and Employee Benefits$96,845
Total Fundraising Expense$57,011
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$5,587$147,636-$153,223
Other Salaries and Wages$74,580$3,224$7,971$85,775
Fees for Services Other$10,908-$48,000$58,908
Fees for Services Accounting-$32,180-$32,180
Conferences and Meetings$31,599$74-$31,673
Travel$12,134-$87$12,221
Insurance-$10,266-$10,266
Office Expenses$5,716$3,121-$8,837
Payroll Taxes$6,888$295$663$7,846
Other Expenses$12,363$5,500-$5,500
Pension Plan Contributions$2,237$97$239$2,573
Advertising$1,517$611-$2,128
Information Technology$13$1,445-$1,458
Depreciation Depletion-$1,227-$1,227
Other Employee Benefits$582$18$51$651
Total Functional Expenses$164,124$205,694$57,011$426,829
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$79,123
Fundraising Gross Income$32,875
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Icon Awards$164,820$32,875$26,386$6,489
Total Events$164,820$32,875$79,123$-46,248
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Ibio$242,854
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 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
Yes
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
500 W MADISON ST NO 1000, CHICAGO, IL 60661

Signing Officer

Name
John Conrad
Title
President and CEO
Phone
3124221111
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Conrad
Formed
2003
Legal Domicile
Il
Voting Board Members
25
Independent Board Members
25
Employees
0
Volunteers
80

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 10,908. Management and general expenses 0. Fundraising expenses 48,000. Total expenses 58,908.

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, 2019 and 2018. 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/Form990PartVIISectionAGrp/PersonNm3GRETCHEN JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm4NORBERT RIEDEL
IRS990/Form990PartVIISectionAGrp/PersonNm5JOHN BATHERY
IRS990/Form990PartVIISectionAGrp/PersonNm6DRUE DRUNCAN
IRS990/Form990PartVIISectionAGrp/PersonNm7MICHAEL FLAVIN
IRS990/Form990PartVIISectionAGrp/PersonNm8DAVID FLOWERS
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IRS990/Form990PartVIISectionAGrp/PersonNm10ASHISH KHANNA
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IRS990/Form990PartVIISectionAGrp/PersonNm12BRIAN MCCARTHY
IRS990/Form990PartVIISectionAGrp/PersonNm13SALIM MUJAIS
IRS990/Form990PartVIISectionAGrp/PersonNm14CHARLIE TOBLER
IRS990/Form990PartVIISectionAGrp/PersonNm15MARILYN VETTER
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IRS990/Form990PartVIISectionAGrp/PersonNm17TIM WALBERT
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IRS990/Form990PartVIISectionAGrp/PersonNm21RAE PAYNE
IRS990/Form990PartVIISectionAGrp/PersonNm22KEVIN LYNCH
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IRS990/Form990PartVIISectionAGrp/PersonNm25PAUL BLOOM PHD
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IRS990/Form990PartVIISectionAGrp/PersonNm27ANN VOGEL
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CORPORATE SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt3MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt4MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18NEW DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19NEW DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20PAST DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21PAST DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22PAST DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt24VICE CHAIR HUMAN HEALTH
IRS990/Form990PartVIISectionAGrp/TitleTxt25VICE CHAIR FOOD & AG
IRS990/Form990PartVIISectionAGrp/TitleTxt26PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt27SENIOR VP, EDUCATE
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IRS990/FormationYr02003
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IRS990/MissionDesc0TO ORCHESTRATE BUSINESS LEADERSHIP IN DELIVERY OF WORLD-CLASS EDUCATIONAL PROGRAMS AND JOB-CREATING NEW TECHNOLOGY VENTURES.
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt07971
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt03224

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