Civic Intelligence

Austen Bionnovation Institute

990 • Fiscal year 2019 • EIN 38-3793003

Jan 01, 2019 to Dec 31, 2019 • Filed on Oct 07, 2020

Organization ProfileWWW.ABIAKRON.ORG
47 North Main StreetAkron, OH 44308

(330) 572-7544

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

97th percentile

79%

Higher net margin than 97% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

72nd percentile

$181,511

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

6th percentile

-16%

Faster asset growth than 6% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

97th percentile

207%

Faster revenue growth than 97% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets7th percentile

Assets

Down

$8,113,077

Down $1,504,916 (-16%) from 2018

Net Assets

Up

$8,113,077

Up $5,496,118 (+210%) from 2018

Liabilities

Down

$0

Down $7,001,034 (-100%) from 2018

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin97th percentile

Revenue

Up

$6,916,677

Up $4,663,288 (+207%) from 2018

Expenses

Down

$1,420,559

Down $1,574,041 (-53%) from 2018

Net Income

Up

$5,496,118

Up $6,237,329 (+842%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$30M$20M$10M$0Assets 2010: $21,866,321Liabilities 2010: $3,997,820Net Assets 2010: $17,868,5012010Assets 2011: $29,078,517Liabilities 2011: $12,234,080Net Assets 2011: $16,844,4372011Assets 2012: $24,236,341Liabilities 2012: $12,609,729Net Assets 2012: $11,626,6122012Assets 2013: $19,263,786Liabilities 2013: $11,534,606Net Assets 2013: $7,729,1802013Assets 2014: $16,644,555Liabilities 2014: $9,144,569Net Assets 2014: $7,499,9862014Assets 2015: $14,137,299Liabilities 2015: $8,078,672Net Assets 2015: $6,058,6272015Assets 2016: $12,443,276Liabilities 2016: $7,827,125Net Assets 2016: $4,616,1512016Assets 2017: $10,827,992Liabilities 2017: $7,450,317Net Assets 2017: $3,377,6752017Assets 2018: $9,617,993Liabilities 2018: $7,001,034Net Assets 2018: $2,616,9592018Assets 2019: $8,113,077Liabilities 2019: $0Net Assets 2019: $8,113,0772019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2019

Assets$8,113,077
Liabilities$0
Net Assets$8,113,077
Open 2019 Filing

Operations Trend

Revenue Growth97th percentile

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

$15M$10M$5.0M$0-$5.0M-$10MExpenses 2010: $10,721,7442010Expenses 2011: $6,136,3392011Expenses 2012: $10,503,5802012Revenue 2013: $5,005,594Expenses 2013: $10,338,675Net Income 2013: -$5,333,0812013Revenue 2014: $6,245,708Expenses 2014: $7,443,009Net Income 2014: -$1,197,3012014Revenue 2015: $2,109,263Expenses 2015: $3,500,624Net Income 2015: -$1,391,3612015Revenue 2016: $1,896,399Expenses 2016: $3,441,498Net Income 2016: -$1,545,0992016Revenue 2017: $1,120,828Expenses 2017: $3,368,870Net Income 2017: -$2,248,0422017Revenue 2018: $2,253,389Expenses 2018: $2,994,600Net Income 2018: -$741,2112018Revenue 2019: $6,916,677Expenses 2019: $1,420,559Net Income 2019: $5,496,1182019Revenue 2020: -$8,075,738Expenses 2020: $28,074Net Income 2020: -$8,103,8122020

Highlighted filing

2019

Revenue$6,916,677
Expenses$1,420,559
Net Income$5,496,118
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 7, 2020
Return Version
2019v5.1
Gross Receipts
$6,953,341
Mission and Program Overview

Mission

The austen bioinnovation institute in akron (abia) is an exceptional collaboration of akron children's hospital, akron general health system,northeast ohio medical university (neomed), summa health system, the university of akron, and the john s and james l knight foundation. Abia is focused on patient-centered innovation and commercialization at the intersection of biomaterials and medicine the strategic alignment of institutional, state, federal, and philanthropic support, accompanied with akron's rich legacy in industrial and materials science and is working to pioneer the next generation of life-enhancing and life-saving innovation that will transform akron and the surrounding region into a model for biomedical discovery and enterprise.

Patient centered innovation and commercialization in the public interests

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,847,148$8,075,738▼ $771,410
Savings and Temporary Cash Investments$368,772--
Intangible Assets$173,594--
Cash and Non-Interest-Bearing Accounts$209,918$37,339▼ $172,579
Accounts Receivable$4,369--
Investments Program Related$50--
Total Assets$9,617,993$8,113,077▼ $1,504,916
Other Assets Total$14,142--
Liabilities
Tax Exempt Bond Liabilities$6,761,411--
Accounts Payable and Accrued Expenses$239,623--
Total Liabilities$7,001,034$0▼ $7,001,034
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,616,959$8,113,077▲ $5,496,118
Total Net Assets Fund Balance$2,616,959$8,113,077▲ $5,496,118
Total Liabilities and Net Assets / Fund Balance$9,617,993$8,113,077▼ $1,504,916

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$8,075,738$6,973,480$15,049,218
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Randazzo JosephCFO (through February 2019)FT$162,063$19,448$181,511

Board Members and Trustees

NameTitle
Considine WilliamChairman
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$44,881
Other Revenue
$6,871,796
Change in Net Assets
$5,496,118
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,237,774
Salaries, Compensation, and Employee Benefits$182,785
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$864,379-$864,379
Interest-$252,943-$252,943
Current Officers, Directors, Trustees, and Key Employees-$181,511-$181,511
Fees for Services Legal-$35,986-$35,986
Office Expenses-$17,135-$17,135
Other Expenses-$13,570-$13,570
Fees for Services Accounting-$9,166-$9,166
Fees for Services Other-$2,816-$2,816
Payroll Taxes-$1,274-$1,274
Occupancy-$826-$826
Insurance-$181-$181
Total Functional Expenses$0$1,420,559$0$1,420,559
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
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
Yes
Other officer compensation reviewed
Yes
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 8B

“No committee has the authority to act on behalf of the governing body.”

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

“The form 990 is distributed to the board of directors for their information after submission of the final report.”

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

“The goverance and organization subcommitee of the board of directors reviews the annual reporting required of the board members.”

Form 990, Part VI, Section B, Line 15

“The organization reviews comparability data and documents the data used for deterimination of compensation.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Austen Bioinnovation Institute in Akron
EIN
38-3793003
Phone
3305727544
Address
47 NORTH MAIN STREET, AKRON, OH 44308

Signing Officer

Name
William H Considine
Title
President
Phone
3305727544
Signed
2020-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William H Considine
Formed
2008
Legal Domicile
Oh
Voting Board Members
1
Independent Board Members
1
Employees
1
Volunteers
1

Preparer

Firm
Cliftonlarsonallen Llp
Address
388 SOUTH MAIN STREET SUITE 420, AKRON, OH 44311
Preparer
Lisa Hilling
Phone
3303760100
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“Austen bioinnovation essentially ceased program operations at the beginning of 2019.”

Raw XML Appendix364 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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CFO (THROUGH FEBRUARY 2019)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0181511
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT AND CEO, THE ORGANIZATION USES THE FOLLOWING PROCESS: EXECUTIVE COMMITTEE DISCUSSES AND PREPARES A WRITTEN EMPLOYMENT CONTRACT BASED ON A COMPENSATION STUDY OF SIMILAR ORGANIZATIONS AND THE EMPLOYMENT CONTRACT IS THEN PRESENTED TO THE BOARD FOR APPROVAL.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AUSTEN BIOINNOVATION ESSENTIALLY CEASED PROGRAM OPERATIONS AT THE BEGINNING OF 2019.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS FOR THEIR INFORMATION AFTER SUBMISSION OF THE FINAL REPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERANCE AND ORGANIZATION SUBCOMMITEE OF THE BOARD OF DIRECTORS REVIEWS THE ANNUAL REPORTING REQUIRED OF THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION REVIEWS COMPARABILITY DATA AND DOCUMENTS THE DATA USED FOR DETERIMINATION OF COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt06761411
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt09617993
IRS990/TotalAssetsEOYAmt08113077
IRS990/TotalAssetsGrp/BOYAmt09617993
IRS990/TotalAssetsGrp/EOYAmt08113077
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01420559
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01420559
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07001034
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt07001034
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02616959
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08113077
IRS990/TotalOtherCompensationAmt019448
IRS990/TotalReportableCompFromOrgAmt0162063
IRS990/TotalRevenueGrp/ExclusionAmt06916677
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06916677
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt01
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09617993
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08113077
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt047 NORTH MAIN STREET
IRS990/USAddress/CityNm0AKRON
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044308
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.ABIAKRON.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM H CONSIDINE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03305727544
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AUSTEN BIOINNOVATION INSTITUTE IN AKRON
ReturnHeader/Filer/BusinessNameControlTxt0BIOI
ReturnHeader/Filer/EIN0383793003
ReturnHeader/Filer/PhoneNum03305727544
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ReturnHeader/Filer/USAddress/CityNm0AKRON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.137.57.251
ReturnHeader/FilingSecurityInformation/IPDt02020-10-07
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm014:55:47
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0388 SOUTH MAIN STREET SUITE 420
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AKRON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044311
ReturnHeader/PreparerPersonGrp/PhoneNum03303760100
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LISA HILLING
ReturnHeader/ReturnTs02020-10-08T14:23:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,113,077
Liabilities
$0
Net assets
$8,113,077
Revenue
$6,916,677
Expenses
$1,420,559
Net income
$5,496,118
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.00$0.00$0.00$8.08$0.03$8.10
2019Detailed filing. Detailed filing data is available for this year.$8.11$0.00$8.11$6.92$1.42$5.50
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.62$7.00$2.62$2.25$2.99$0.74
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.8$7.45$3.38$1.12$3.37$2.25
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.4$7.83$4.62$1.90$3.44$1.55
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.1$8.08$6.06$2.11$3.50$1.39
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.6$9.14$7.50$6.25$7.44$1.20
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$19.3$11.5$7.73$5.01$10.3$5.33
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.2$12.6$11.6$10.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.1$12.2$16.8$6.14
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.9$4.00$17.9$10.7