Civic Intelligence

Usher 1F Collaborative Inc.

990 • Fiscal year 2022 • EIN 46-4309387

Jan 01, 2022 to Dec 31, 2022 • Filed on Mar 03, 2023

321 Walnut Street STE 228Newtonville, MA 02460

(339) 221-2743

Siviq Scores

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

Liabilities / Assets

25th percentile

0.00x

Higher debt load relative to assets than 25% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

22nd percentile

0.00x

Higher debt load relative to revenue than 22% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

62nd percentile

14%

Higher net margin than 62% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

68th percentile

11%

Faster asset growth than 68% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

88th percentile

81%

Faster revenue growth than 88% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$1,300,335

Up $126,576 (+11%) from 2021

Net Assets

Up

$1,295,015

Up $150,146 (+13%) from 2021

Liabilities

Down

$5,320

Down $23,570 (-82%) from 2021

Revenue

Up

$1,082,978

Up $485,176 (+81%) from 2021

Expenses

Up

$932,832

Up $92,767 (+11%) from 2021

Net Income

Up

$150,146

Up $392,409 (+162%) from 2021

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 2014: $14,265Liabilities 2014: $02014Assets 2015: $127,188Liabilities 2015: $0Net Assets 2015: $127,1882015Assets 2016: $370,001Liabilities 2016: $0Net Assets 2016: $370,0012016Assets 2017: $355,469Liabilities 2017: $0Net Assets 2017: $355,4692017Assets 2018: $298,956Liabilities 2018: $0Net Assets 2018: $298,9562018Assets 2019: $646,863Liabilities 2019: $0Net Assets 2019: $646,8632019Assets 2020: $1,398,235Liabilities 2020: $0Net Assets 2020: $1,398,2352020Assets 2021: $1,173,759Liabilities 2021: $28,890Net Assets 2021: $1,144,8692021Assets 2022: $1,300,335Liabilities 2022: $5,320Net Assets 2022: $1,295,0152022Assets 2023: $810,900Liabilities 2023: $7,699Net Assets 2023: $803,2012023Assets 2024: $781,549Liabilities 2024: $3,731Net Assets 2024: $777,8182024Assets 2025: $691,312Liabilities 2025: $55,407Net Assets 2025: $635,9052025

Highlighted filing

2022

Assets$1,300,335
Liabilities$5,320
Net Assets$1,295,015

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $23,785Expenses 2014: $11,571Net Income 2014: $12,2142014Revenue 2015: $215,611Expenses 2015: $102,688Net Income 2015: $112,9232015Revenue 2016: $469,810Expenses 2016: $226,997Net Income 2016: $242,8132016Revenue 2017: $425,468Expenses 2017: $440,000Net Income 2017: -$14,5322017Revenue 2018: $409,468Expenses 2018: $465,981Net Income 2018: -$56,5132018Revenue 2019: $783,556Expenses 2019: $435,650Net Income 2019: $347,9062019Revenue 2020: $1,233,929Expenses 2020: $482,557Net Income 2020: $751,3722020Revenue 2021: $597,802Expenses 2021: $840,065Net Income 2021: -$242,2632021Revenue 2022: $1,082,978Expenses 2022: $932,832Net Income 2022: $150,1462022Revenue 2023: $446,533Expenses 2023: $646,264Net Income 2023: -$199,7312023Revenue 2024: $845,716Expenses 2024: $871,099Net Income 2024: -$25,3832024Revenue 2025: $743,572Expenses 2025: $885,485Net Income 2025: -$141,9132025

Highlighted filing

2022

Revenue$1,082,978
Expenses$932,832
Net Income$150,146
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Mar 3, 2023
Return Version
2022v4.1
Gross Receipts
$1,082,978
Mission and Program Overview

Mission

To fund medical research to find an effective treatment to save or restore the vision of those affected with Usher Syndrome Type 1F.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,148,588$930,431▼ $218,157
Accounts Receivable-$356,223-
Cash and Non-Interest-Bearing Accounts$25,171$13,681▼ $11,490
Total Assets$1,173,759$1,300,335▲ $126,576
Liabilities
Accounts Payable and Accrued Expenses$28,890$5,320▼ $23,570
Total Liabilities$28,890$5,320▼ $23,570
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,138,869$1,104,973▼ $33,896
Net Assets With Donor Restrictions$6,000$190,042▲ $184,042
Total Net Assets Fund Balance$1,144,869$1,295,015▲ $150,146
Total Liabilities and Net Assets / Fund Balance$1,173,759$1,300,335▲ $126,576
Compensation and Service Providers

Board Members and Trustees

NameTitle
Melissa ChaikofChair and Trustee
Elliot ChaikofVice Chair and Trustee
Jared RootSecretary and Trustee
Frank GentileTreasurer and Trustee
Heather RosensteinTrustee
Joshua CohenTrustee
Joshua HerzTrustee
Julian SeewaldTrustee
Laurie ShapiroTrustee
Lijun SunTrustee
Rachael RootTrustee
Sari L SpringerTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$1,081,791
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$1,187
All Other Contributions
$1,081,791
Change in Net Assets
$150,146

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded2$55,054Fair Value
Total Noncash Contributions2$55,054-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,082,978
Total Revenue per Audited Statements
$1,082,978
Total Revenue per Form 990
$1,082,978
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$719,100
Total Fundraising Expense$148,781
Other Expenses$137,126
Salaries, Compensation, and Employee Benefits$76,606
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$719,100--$719,100
Fees for Services Other-$48$62,519$62,567
Other Salaries and Wages$7,984$59$51,681$59,724
Office Expenses$708$12,455$6,001$19,164
Fees for Services Legal-$12,766-$12,766
Information Technology-$7,752$3,989$11,741
Fees for Services Accounting$150$10,808-$10,958
Advertising-$346$9,983$10,329
Other Employee Benefits$1,379$10$8,928$10,317
Conferences and Meetings$5,110--$5,110
Payroll Taxes$660$4$4,263$4,927
Insurance-$3,877-$3,877
Pension Plan Contributions$219$2$1,417$1,638
Other Expenses$499$115-$614
Total Functional Expenses$735,809$48,242$148,781$932,832

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$932,832
Total Expenses per Audited Statements$932,832
Total Expenses per Form 990$932,832
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Foundation Fighting BlindnessColumbia, MD501c3-$300,000
Harvard UniversityCambridge, MA501c3-$163,000
University of Oregon FoundationEugene, OR501c3-$120,000
Salk InstituteLa Jolla, CA501c3-$95,100
University of Maryland Baltimore FoBaltimore, MD501c3-$40,000
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

Melissa Chaikof is married to Elliot Chaikof. Rachel Root is married to Jared Root. Sari Springer is Elliot Chaikofs sister.

Form 990 governing body review Part VI line 11

The 990 is reviewed by an officer of the board prior to filing.

Governing documents etc available to public Part VI line 19

The Organization will provide document copies upon request.

Filing and Contact Details

Filer

Filer Name
Usher 1F Collaborative Inc
EIN
46-4309387
Address
321 Walnut Street STE 228, Newtonville, MA 02460

Signing Officer

Name
Melissa Chaikof
Title
Chair and Trust
Phone
3392212743
Signed
2023-03-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melissa Chaikof
Formed
2013
Legal Domicile
Ma
Voting Board Members
13
Independent Board Members
13
Employees
1
Volunteers
16

Preparer

Firm
Mullins PC
Address
7625 Wisconsin Avenue, Bethesda, MD 20814
Preparer
John Mullins
Phone
2027706371
Supplemental Narrative

Financial Statement Notes

Footnote for uncertain tax position under FIN 48 (Part X)

The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Collaborative may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities at year-end.The Collaboratives policy would be to recognize interest and penalties, if any, on tax positions related to its unrecognized tax benefits in income tax expense in the financial statements. No interest and penalties were assessed or recorded during the year.

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IRS990/PrincipalOfficerNm0Melissa Chaikof
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Collaborative may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities at year-end.The Collaboratives policy would be to recognize interest and penalties, if any, on tax positions related to its unrecognized tax benefits in income tax expense in the financial statements. No interest and penalties were assessed or recorded during the year.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Footnote for uncertain tax position under FIN 48 (Part X)
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Harvard University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1University of Oregon Foundation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Salk Institute
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Foundation Fighting Blindness
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4University of Maryland Baltimore Fo
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01033 Massachusetts Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11720 E 13th Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt210010 North Torrey Pines Rd
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt36925 Oakland Mills Road
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4220 Arch St 13th Floor
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Cambridge
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Eugene
IRS990ScheduleI/RecipientTable/USAddress/CityNm2La Jolla
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Columbia
IRS990ScheduleI/RecipientTable/USAddress/CityNm4Baltimore
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The Organization receives written updates from the grant recipients every six months or as needed if there are important progress updates. The Organization also speaks to the funded researchers periodically to receive updated either via phone or email.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Monitoring procedures (Part I, line 2)
IRS990ScheduleI/Total501c3OrgCnt06
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