Civic Intelligence

Usher 1F Collaborative Inc.

990 • Fiscal year 2024 • EIN 46-4309387

Jan 01, 2024 to Dec 31, 2024 • Filed on Mar 11, 2025

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

42nd percentile

0.00x

Higher debt load relative to assets than 42% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

40th percentile

0.00x

Higher debt load relative to revenue than 40% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

32nd percentile

-3.0%

Higher net margin than 32% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

29th percentile

-3.6%

Faster asset growth than 29% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

89th percentile

89%

Faster revenue growth than 89% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Down

$781,549

Down $29,351 (-3.6%) from 2023

Net Assets

Down

$777,818

Down $25,383 (-3.2%) from 2023

Liabilities

Down

$3,731

Down $3,968 (-52%) from 2023

Revenue

Up

$845,716

Up $399,183 (+89%) from 2023

Expenses

Up

$871,099

Up $224,835 (+35%) from 2023

Net Income

Up

-$25,383

Up $174,348 (+87%) from 2023

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

2024

Assets$781,549
Liabilities$3,731
Net Assets$777,818

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

2024

Revenue$845,716
Expenses$871,099
Net Income-$25,383
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 11, 2025
Return Version
2024v5.0
Gross Receipts
$940,981
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$753,285$660,358▼ $92,927
Accounts Receivable$9,800$105,670▲ $95,870
Cash and Non-Interest-Bearing Accounts$47,815$15,521▼ $32,294
Total Assets$810,900$781,549▼ $29,351
Liabilities
Accounts Payable and Accrued Expenses$7,699$3,731▼ $3,968
Total Liabilities$7,699$3,731▼ $3,968
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$799,201$668,148▼ $131,053
Net Assets With Donor Restrictions$4,000$109,670▲ $105,670
Total Net Assets Fund Balance$803,201$777,818▼ $25,383
Total Liabilities and Net Assets / Fund Balance$810,900$781,549▼ $29,351
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
Dorie ShapiroTrustee
Eric HalperTrustee
Heather RosensteinTrustee
Joshua CohenTrustee
Julian SeewaldTrustee
Margi LevittTrustee
Rachel RootTrustee
Sari L SpringerTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$623,437
Program Service Revenue
$0
Investment Income
$13,030
Other Revenue
$209,249
All Other Contributions
$623,437
Change in Net Assets
$-25,383

Audited Revenue Reconciliation

Revenue per Audited Statements
$845,716
Total Revenue per Audited Statements
$845,716
Total Revenue per Form 990
$845,716
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$671,155
Total Fundraising Expense$154,180
Other Expenses$123,002
Salaries, Compensation, and Employee Benefits$76,942
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$671,155--$671,155
Fees for Services Other$836$11,696$64,279$76,811
Other Salaries and Wages--$69,285$69,285
Office Expenses$18$13,949$8,507$22,474
Fees for Services Accounting-$8,874-$8,874
Advertising$6,461-$801$7,262
Payroll Taxes--$5,347$5,347
Insurance-$3,815$667$4,482
Conferences and Meetings--$2,484$2,484
Pension Plan Contributions--$2,079$2,079
Other Expenses-$115$500$615
Other Employee Benefits--$231$231
Total Functional Expenses$678,470$38,449$154,180$871,099

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$871,099
Total Expenses per Audited Statements$871,099
Total Expenses per Form 990$871,099
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Harvard UniversityCambridge, MA501c3-$291,155
Foundation Fighting BlindnessColumbia, MD501c3-$200,000
The Salk InstituteLa Jolla, CA501c3-$150,000
University of Oregon FoundationEugene, OR501c3-$30,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$304,440
Fundraising Direct Expenses$95,265
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising$304,440$304,440$95,265$209,175
Total Events$304,440$304,440$95,265$209,175
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
In Care Of
% Melissa Chaikof
Phone
3392212743
Address
321 Walnut Street STE 228, Newtonville, MA 02460

Signing Officer

Name
Melissa Chaikof
Title
Chair and Trustee
Phone
3392212743
Signed
2025-03-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melissa Chaikof
Formed
2013
Legal Domicile
Ma
Voting Board Members
10
Independent Board Members
10
Employees
1
Volunteers
23

Preparer

Firm
Mullins PC
Address
7625 Wisconsin Ave Suite 317, Bethesda, MD 20814
Preparer
John Mullins
Phone
2027706371
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Prior Period Adjustment of -$292,083. This adjustment was needed to reconcile the ending balance on the 2022 990 to the beginning balance on the 2023 Audited Financial Statements.

List of other fees for services expenses Part IX line 11G

Professional Services: $60,000Information Technology: $11,689Other: $5,122

Financial Statement Notes

Part X, Line 2-Text in footnote regarding FIN 48 (ASC 740)

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 ofbeing 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/Desc02024 Grants to Research Labs:Harvard Medical School, David Corey Lab: $291,155The Salk Institute, Samuel Pfaff Lab: $150,000University of Oregon Institute of Neuroscience, Monte Westerfield Lab: $30,0002024 Grant for year 3 of RUSH1F, 4-year natural history study in partnership with Foundation Fighting Blindness: $200,000Total grants awarded in 2024: $671,155 Key Research advances realized in 2024: Harvard mini-gene in preclinical testing produced stunning results in nonhuman primate retinas. Harvard team published the following papers in peer-reviewed jounals: o PCDH15 dual-AAV gene therapy for deafness and blindness in Usher syndrome type 1F models o Elasticity and Thermal Stability are Key Determinants of Hearing Rescue by Mini-Protocadherin-15 Proteins Funded partnership between the Corey Lab at Harvard Medical School and the Pfaff Lab atThe Salk Institute to complete development of dual vector gene therapy using proprietary RNA End Joining (REJ) approach and begin testing of this gene therapy on mouse model at Harvard
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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 ofbeing 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/FormAndLineReferenceDesc0Part X, Line 2-Text in footnote regarding FIN 48 (ASC 740)
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Harvard University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1University of Oregon Foundation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2The Salk Institute
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Foundation Fighting Blindness
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01033 Massachusetts Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11720 E 13th Ave
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt210010 N Torrey Pines Road
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt36925 Oakland Mills Road
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Cambridge
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Eugene
IRS990ScheduleI/RecipientTable/USAddress/CityNm2La Jolla
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Columbia
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1OR
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2CA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3MD
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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/Total501c3OrgCnt04
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Melissa Chaikof is married to Elliot Chaikof. Rachel Root is married to Jared Root. Sari Springer is Elliot Chaikofs sister.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 990 is reviewed by an officer of The Board prior to filing.

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