Civic Intelligence

The Silverstein Foundation for Gba Research

990 • Fiscal year 2020 • EIN 82-0656623

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 01, 2021

PO Box 237137New York, NY 10023

(917) 519-8108

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.01x

Higher debt load relative to assets than 52% of similar nonprofits.

2020 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

83rd percentile

0.48x

Higher debt load relative to revenue than 83% of similar nonprofits.

2020 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2020

Net Margin

2nd percentile

-837%

Higher net margin than 2% of similar nonprofits.

2020 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

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

2020 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2020

Asset Growth

15th percentile

-7.0%

Faster asset growth than 15% of similar nonprofits.

2020 filings • NTEE T30 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

6th percentile

-83%

Faster revenue growth than 6% of similar nonprofits.

2020 filings • NTEE T30 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$3,115,597

Down $235,725 (-7.0%) from 2019

Net Assets

Down

$3,080,022

Down $254,375 (-7.6%) from 2019

Liabilities

Up

$35,575

Up $18,650 (+110%) from 2019

Revenue

Down

$74,303

Down $356,625 (-83%) from 2019

Expenses

Down

$695,922

Down $209,378 (-23%) from 2019

Net Income

Down

-$621,619

Down $147,247 (-31%) from 2019

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2017: $5,199,155Liabilities 2017: $40,880Net Assets 2017: $5,158,2752017Assets 2018: $3,393,950Liabilities 2018: $155,000Net Assets 2018: $3,238,9502018Assets 2019: $3,351,322Liabilities 2019: $16,925Net Assets 2019: $3,334,3972019Assets 2020: $3,115,597Liabilities 2020: $35,575Net Assets 2020: $3,080,0222020Assets 2021: $3,277,845Liabilities 2021: $18,915Net Assets 2021: $3,258,9302021Assets 2022: $1,476,308Liabilities 2022: $18,915Net Assets 2022: $1,457,3932022Assets 2023: $320,724Liabilities 2023: $18,915Net Assets 2023: $301,8092023Assets 2024: $240,557Liabilities 2024: $18,915Net Assets 2024: $221,6422024

Highlighted filing

2020

Assets$3,115,597
Liabilities$35,575
Net Assets$3,080,022

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2017: $6,231,700Expenses 2017: $1,073,425Net Income 2017: $5,158,2752017Revenue 2018: $661,041Expenses 2018: $2,760,398Net Income 2018: -$2,099,3572018Revenue 2019: $430,928Expenses 2019: $905,300Net Income 2019: -$474,3722019Revenue 2020: $74,303Expenses 2020: $695,922Net Income 2020: -$621,6192020Revenue 2021: $272,153Expenses 2021: $1,564,082Net Income 2021: -$1,291,9292021Revenue 2022: $49,075Expenses 2022: $1,843,012Net Income 2022: -$1,793,9372022Revenue 2023: $625,714Expenses 2023: $1,782,655Net Income 2023: -$1,156,9412023Revenue 2024: $26,051Expenses 2024: $100,807Net Income 2024: -$74,7562024

Highlighted filing

2020

Revenue$74,303
Expenses$695,922
Net Income-$621,619
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 1, 2021
Return Version
2020v4.1
Gross Receipts
$74,303
Mission and Program Overview

Mission

The silverstein foundation for parkinson's with gba research raises awareness around parkinson's disease associated with gba mutations. See schedule o for more information.

To raise awareness around parkinson's disease associated with gba mutations and relevant clinical trials for mutation carriers. See also part iii and schedule o.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,499,052$1,896,083▼ $602,969
Investments Other Securities$791,500$1,153,500▲ $362,000
Investments in Publicly Traded Securities$60,770$66,014▲ $5,244
Total Assets$3,351,322$3,115,597▼ $235,725
Liabilities
Accounts Payable and Accrued Expenses$16,925$35,575▲ $18,650
Total Liabilities$16,925$35,575▲ $18,650
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,334,397$3,080,022▼ $254,375
Total Net Assets Fund Balance$3,334,397$3,080,022▼ $254,375
Total Liabilities and Net Assets / Fund Balance$3,351,322$3,115,597▼ $235,725

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$1,153,500--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jonathan SilversteinPresident / Secretary
Natalie SilversteinVice President / Treasurer
Geoffrey LevinBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$67,317
Program Service Revenue
$0
Investment Income
$6,986
Other Revenue
$0
All Other Contributions
$67,317
Change in Net Assets
$-621,619

Audited Revenue Reconciliation

Revenue per Audited Statements
$74,303
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$367,244
Total Revenue per Audited Statements
$441,547
Total Revenue per Form 990
$74,303
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$626,701
Other Expenses$69,221
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$626,701--$626,701
Fees for Services Accounting-$58,750-$58,750
Fees for Services Other-$7,547-$7,547
Office Expenses-$2,899-$2,899
Other Expenses-$25-$25
Total Functional Expenses$626,701$69,221$0$695,922

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$695,922
Total Expenses per Audited Statements$695,922
Total Expenses per Form 990$695,922
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Chamishi Therapeutics IncDeerfield, IL-Research$375,001
Aspen Neuroscience IncSan Diego, CA-Research$191,200
Vanqua BioDeerfield, IL-Research$60,500
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
Audit committee
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Directors jonathan silverstein and natalie silverstein have a family relationship.

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

The form 990 is prepared, using information provided by the foundation, by an independent accounting firm. The 990, as will be filed with the irs, is reviewed by the board prior to its filing with the internal revenue service.

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

The foundation has a conflict of interest policy in place. (a) if the foundation has multiple directors, a director who is directly or indirectly a party to a transcation with the foundation (an "interested director") shall disclose the material facts of the transaction and his or her interest in or relationship to such transaction to the board of directors and to any committee of the board considering such transaction prior to any action by the board or such committee to authorize, approve or ratify such transaction. A director is "indirectly" a party to a transaction if the entity which is a party is an entity in which the director has a material financial interest or of which the director is an officer, director or general partner. (b) the transaction shall be approved in good faith by the board of directors or a committee of the board by the affirmative vote of: (i) a majority of the disinterested directors; or (ii) a majority of all the directors on the board or committee after deciding that the transaction is fair to the foundation as of the time it is authorized by the board or committee. The presence of an interested director or of a director who is otherwise not disinterested may be counted in determining whether a quorum of the board of directors or a committee of the board is present. The board of directors may in its discretion adopt other procedures as the board determines is appropriate to address conflicts of interest.

Form 990, Part VI, Section C, Line 19

Documents are available upon request.

Filing and Contact Details

Filer

Filer Name
The Silverstein Foundation for
EIN
82-0656623
Phone
9175198108
Address
PO BOX 237137, NEW YORK, NY 10023

Signing Officer

Name
Natalie Silverstein
Title
Vice Pres/treasurer
Phone
9175198108
Signed
2021-10-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jonathan Silverstein
Formed
2017
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Kpmg Llp
Address
345 PARK AVENUE, NEW YORK, NY 10154-0102
Preparer
David M Highfill
Phone
2127589700
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1, ORGANIZATION'S MISSION

Continue from part iii: we aggressively seek out new cutting edge therapeutic approaches to treating and preventing parkinson's in gba mutation carriers. Through clinicians, scientists and biotech companies, we seek to accelerate research and clinical trials in an effort to rapidly bring new therapeutic options to patients.

Form 990, Part III, Line 4A, Program Services

Continue from part iii: the foundation previously funded the following initiatives that continue to advance the mission of the organization: - prevail therapeutics, a company that the foundation started with asa abeliovich, raised $200 million via private and public financing. Prevail recently announced that enrollment in the pr001 phase 1/2 propel clinical trial is progressing, patient dosing continues, and the company is hopeful that it will remain on track to report interim data on a subset of patients in the second half of 2020. - aspen neuroscience, which was spun out of scripps institute and the lab of world-renowned stem cell researcher dr. Jean loring, raised more than $70 million to study autologous stem cell approaches. Vanqua bio was launched in 2019 based on foundation-funded research being conducted in the laboratory of dr. Dimitri krainc at northwestern university. The company is focused on developing small molecule modulators of lysosomal targets that have genetic linkages to gba pd. Together with q-state biosciences, the foundation launched chamishi therapeutics, a new drug discovery and development company focused on neurodegenerative diseases and other related disorders. The partnership will combine the silverstein foundation's deep scientific knowledge base with q-state's precision medicine platform, disease-relevant cellular assays, and aso (antisense-oligonucleotide) design capabilities. Chamishi is led by jim sullivan, former vice president of pharmaceutical discovery at abbvie. In 2020, vanqua bio received two additional grants in support of its research developing small molecule modulators of lysosomal targets that have genetic linkages to gba pd. Prevail therapeutics, which was co-founded by the silverstein foundation in 2019, was acquired by eli lilly and company in december 2020.

Financial Statement Notes

PART X, LINE 2:

Uncertain tax positions the foundation is exempt from federal income tax under section 501(c)(3). Accounting standards prescribe a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. These standards also provide guidance on de-recognition of tax benefits, classification on the balance sheet, interest and penalties, accounting in interim periods, disclosure, and transition. The foundation has evaluated any uncertain tax positions and related income tax contingencies and determined uncertain positions, if any, are not material to the financial statements. Penalties and interest assessed by income taxing authorities are included in operating expenses, if incurred. Tax returns are generally subject to examination by federal and state taxing authorities for three years.

Raw XML Appendix365 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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IRS990/MissionDesc0THE SILVERSTEIN FOUNDATION FOR PARKINSON'S WITH GBA RESEARCH RAISES AWARENESS AROUND PARKINSON'S DISEASE ASSOCIATED WITH GBA MUTATIONS. SEE SCHEDULE O FOR MORE INFORMATION.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0UNCERTAIN TAX POSITIONS THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3). ACCOUNTING STANDARDS PRESCRIBE A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THESE STANDARDS ALSO PROVIDE GUIDANCE ON DE-RECOGNITION OF TAX BENEFITS, CLASSIFICATION ON THE BALANCE SHEET, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. THE FOUNDATION HAS EVALUATED ANY UNCERTAIN TAX POSITIONS AND RELATED INCOME TAX CONTINGENCIES AND DETERMINED UNCERTAIN POSITIONS, IF ANY, ARE NOT MATERIAL TO THE FINANCIAL STATEMENTS. PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES ARE INCLUDED IN OPERATING EXPENSES, IF INCURRED. TAX RETURNS ARE GENERALLY SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES FOR THREE YEARS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt01153500
IRS990ScheduleD/TotalExpensesPerForm990Amt0695922
IRS990ScheduleD/TotalRevenuePerForm990Amt074303
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0441547
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0695922
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt060500
IRS990ScheduleI/RecipientTable/CashGrantAmt1375001
IRS990ScheduleI/RecipientTable/CashGrantAmt2191200
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc1N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc2N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0RESEARCH
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1RESEARCH
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2RESEARCH
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0VANQUA BIO
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1CHAMISHI THERAPEUTICS INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2ASPEN NEUROSCIENCE INC
IRS990ScheduleI/RecipientTable/RecipientEIN0301205175
IRS990ScheduleI/RecipientTable/RecipientEIN1352669722
IRS990ScheduleI/RecipientTable/RecipientEIN2831312969
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0711 DIMMEYDALE DRIVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1711 DIMMEYDALE DRIVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt210835 ROAD TO THE CURE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0DEERFIELD
IRS990ScheduleI/RecipientTable/USAddress/CityNm1DEERFIELD
IRS990ScheduleI/RecipientTable/USAddress/CityNm2SAN DIEGO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IL
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1IL
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2CA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd060015
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd160015
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd292121
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE SILVERSTEIN FOUNDATION FOR PARKINSON'S WITH GBA MAINTAINS RECORDS TO SUBSTANTIATE THE FUNDING AMOUNT, ELIGIBILITY CRITERIA AND SELECTION CRITERIA USED TO AWARD THE GRANTS. A GRANT CONTRACTING PROCESS SUMMARY PROVIDES DETAILED INSTRUCTIONS AND GUIDANCE FOR THE BOARD AND SCIENTIFIC ADVISORY BOARD (SAB) AS THEY SEEK NEW, CUTTING-EDGE THERAPEUTIC APPROACHES FOR TREATING AND PREVENTING PARKINSON'S DISEASE IN GBA MUTATION CARRIERS. THE SAB, WHICH GUIDES DECISION MAKING IN THE SELECTION PROCESS, IS COMPRISED OF ELEVEN (11) WORLD RENOWNED RESEARCHERS AND DRUG-DEVELOPERS. THEY ARE ABLE TO RAPIDLY COMB THROUGH GBA-RELATED RESEARCH TO ADVANCE OUR GOALS AND DETERMINE WHICH GRANTS SHALL BE AWARDED. THE GRANT CONTRACTING PROCESS OUTLINES THE STEPS THE FOUNDATION TAKES TO SUBSTANTIATE AMOUNTS AND ELIGIBILITY AS FOLLOWS; - PRIMARY INVESTIGATORS (PI'S) ARE ASKED TO SUBMIT A DETAILED RESEARCH PLAN AND COMPLETE MILESTONE AND BUDGET TEMPLATES WHICH ARE REVIEWED BY FOUNDATION STAFF AND SAB MEMBERS. - BUDGET JUSTIFICATION MAY BE REQUIRED. - FOR PRIVATE COMPANIES, HIGH-LEVEL FINANCIAL DOCUMENTS ARE REQUESTED IN ORDER TO PROVIDE CONFIRMATION THAT THE COMPANY HAS FINANCIAL STABILITY THROUGHOUT THE DURATION OF THE GRANT AND BEYOND. - ONCE ALL DOCUMENTS ARE RECEIVED FROM GRANTEE, INTERNAL REVIEW BY ALL SCIENTISTS ENSURES THAT ALL REQUESTS AND GOALS ARE APPROPRIATE. - A CONTRACT TEMPLATE, WHICH INCLUDES PAYMENT SCHEDULE, IS COMPLETED ONCE ALL DOCUMENTS HAVE BEEN VETTED BY INTERNAL STAFF. A PAYMENT SCHEDULE IS DETERMINED AND PAYMENTS ARE BASED UPON MILESTONES AND DELIVERABLES BEING MET. CLEAR GO/NO-GO POINTS FOR THE RESEARCH ARE REQUIRED. - FINAL EXECUTED CONTRACT, INCLUDING BUDGET AND MILESTONES ARE SIGNED BY THE FOUNDATION AND THE GRANTEE, AND ARE KEPT ON FILE. - FOUNDATION PERSONNEL ARE ASSIGNED TO OVERSEE THE PROGRESS OF THE GRANT, BOTH SCIENTIFICALLY AND ADMINISTRATIVELY. PROGRESS UPDATES, CHECK-INS AND REPORTING REQUIREMENTS ARE OUTLINED AND AGREED UPON IN THE CONTRACT AND ARE MONITORED CLOSELY BY PERSONNEL.
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt1DESCRIBE THE FOUNDATION'S PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS. THE SILVERSTEIN FOUNDATION FOR PARKINSON'S WITH GBA MAINTAINS A RIGOROUS GRANT MANAGEMENT PROCESS WHICH INVOLVES THE FOLLOWING STEPS: - IDENTIFY POINT OF CONTACT (POC) INTERNALLY AND COMMUNICATE THIS TO GRANTEE. - INFORM GRANTEE THAT THEY WILL BE IN TOUCH WITH POC PROACTIVELY ON: - FIRST MONTH PROGRESS ON RECRUITMENT AND HIRES (CLINICAL GRANT) - MONTHLY PROGRESS ON RECRUITMENT (CLINICAL GRANT) - SCHEDULING A THREE (3) MONTH CALL, MIDPOINT ASSESSMENT CALL AND FINAL ASSESSMENT MEETING/CALL. - SUBMIT MIDPOINT REPORT AND FINAL REPORT TO THE POC PROGRESS AGAINST MILESTONES. PAYMENTS WILL ONLY BE RELEASED IF MILESTONES ARE MET. - GRANTEE WILL NEED TO STAY IN TOUCH TO SHARE UPDATES. - ADJUST PAYMENTS IF MILESTONES ARE DELAYED. IF WORK CANNOT CONTINUE, MODIFICATION OF WORK OR EARLY TERMINATION OF GRANT WOULD BE REQUIRED. - UPON CONFIRMATION THAT PAYMENT CAN BE SENT, INFORM FOUNDATION TREASURER (NATALIE SILVERSTEIN) THREE (3) DAYS IN ADVANCE TO ISSUE PAYMENT. - SHARE GRANTEE NAME, AMOUNT AND BANK INFORMATION. TRACK INFORMATION IN GRANTS TRACKER, PAYMENT TAB. - DURING MIDPOINT AND FINAL REPORT SUBMISSION, ENSURE ALL HIGH-LEVEL DATA, FINDINGS AND RESULTS ARE SHARED IN WRITTEN FORM, EVEN IF GRANTEE PLANS TO SHARE INFORMATION VIA PHONE OR IN PERSON DURING ASSESSMENT MEETING. - FOUNDATION SHALL SAVE ALL REPORTS AND FINAL PRESENTATIONS IN GRANTEE'S FILE AS "REPORTS & RESULTS".
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, LINE 1
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE I, LINE 2
IRS990ScheduleI/TotalOtherOrgCnt03
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CONTINUE FROM PART III: WE AGGRESSIVELY SEEK OUT NEW CUTTING EDGE THERAPEUTIC APPROACHES TO TREATING AND PREVENTING PARKINSON'S IN GBA MUTATION CARRIERS. THROUGH CLINICIANS, SCIENTISTS AND BIOTECH COMPANIES, WE SEEK TO ACCELERATE RESEARCH AND CLINICAL TRIALS IN AN EFFORT TO RAPIDLY BRING NEW THERAPEUTIC OPTIONS TO PATIENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONTINUE FROM PART III: THE FOUNDATION PREVIOUSLY FUNDED THE FOLLOWING INITIATIVES THAT CONTINUE TO ADVANCE THE MISSION OF THE ORGANIZATION: - PREVAIL THERAPEUTICS, A COMPANY THAT THE FOUNDATION STARTED WITH ASA ABELIOVICH, RAISED $200 MILLION VIA PRIVATE AND PUBLIC FINANCING. PREVAIL RECENTLY ANNOUNCED THAT ENROLLMENT IN THE PR001 PHASE 1/2 PROPEL CLINICAL TRIAL IS PROGRESSING, PATIENT DOSING CONTINUES, AND THE COMPANY IS HOPEFUL THAT IT WILL REMAIN ON TRACK TO REPORT INTERIM DATA ON A SUBSET OF PATIENTS IN THE SECOND HALF OF 2020. - ASPEN NEUROSCIENCE, WHICH WAS SPUN OUT OF SCRIPPS INSTITUTE AND THE LAB OF WORLD-RENOWNED STEM CELL RESEARCHER DR. JEAN LORING, RAISED MORE THAN $70 MILLION TO STUDY AUTOLOGOUS STEM CELL APPROACHES. VANQUA BIO WAS LAUNCHED IN 2019 BASED ON FOUNDATION-FUNDED RESEARCH BEING CONDUCTED IN THE LABORATORY OF DR. DIMITRI KRAINC AT NORTHWESTERN UNIVERSITY. THE COMPANY IS FOCUSED ON DEVELOPING SMALL MOLECULE MODULATORS OF LYSOSOMAL TARGETS THAT HAVE GENETIC LINKAGES TO GBA PD. TOGETHER WITH Q-STATE BIOSCIENCES, THE FOUNDATION LAUNCHED CHAMISHI THERAPEUTICS, A NEW DRUG DISCOVERY AND DEVELOPMENT COMPANY FOCUSED ON NEURODEGENERATIVE DISEASES AND OTHER RELATED DISORDERS. THE PARTNERSHIP WILL COMBINE THE SILVERSTEIN FOUNDATION'S DEEP SCIENTIFIC KNOWLEDGE BASE WITH Q-STATE'S PRECISION MEDICINE PLATFORM, DISEASE-RELEVANT CELLULAR ASSAYS, AND ASO (ANTISENSE-OLIGONUCLEOTIDE) DESIGN CAPABILITIES. CHAMISHI IS LED BY JIM SULLIVAN, FORMER VICE PRESIDENT OF PHARMACEUTICAL DISCOVERY AT ABBVIE. IN 2020, VANQUA BIO RECEIVED TWO ADDITIONAL GRANTS IN SUPPORT OF ITS RESEARCH DEVELOPING SMALL MOLECULE MODULATORS OF LYSOSOMAL TARGETS THAT HAVE GENETIC LINKAGES TO GBA PD. PREVAIL THERAPEUTICS, WHICH WAS CO-FOUNDED BY THE SILVERSTEIN FOUNDATION IN 2019, WAS ACQUIRED BY ELI LILLY AND COMPANY IN DECEMBER 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS JONATHAN SILVERSTEIN AND NATALIE SILVERSTEIN HAVE A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PREPARED, USING INFORMATION PROVIDED BY THE FOUNDATION, BY AN INDEPENDENT ACCOUNTING FIRM. THE 990, AS WILL BE FILED WITH THE IRS, IS REVIEWED BY THE BOARD PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION HAS A CONFLICT OF INTEREST POLICY IN PLACE. (A) IF THE FOUNDATION HAS MULTIPLE DIRECTORS, A DIRECTOR WHO IS DIRECTLY OR INDIRECTLY A PARTY TO A TRANSCATION WITH THE FOUNDATION (AN "INTERESTED DIRECTOR") SHALL DISCLOSE THE MATERIAL FACTS OF THE TRANSACTION AND HIS OR HER INTEREST IN OR RELATIONSHIP TO SUCH TRANSACTION TO THE BOARD OF DIRECTORS AND TO ANY COMMITTEE OF THE BOARD CONSIDERING SUCH TRANSACTION PRIOR TO ANY ACTION BY THE BOARD OR SUCH COMMITTEE TO AUTHORIZE, APPROVE OR RATIFY SUCH TRANSACTION. A DIRECTOR IS "INDIRECTLY" A PARTY TO A TRANSACTION IF THE ENTITY WHICH IS A PARTY IS AN ENTITY IN WHICH THE DIRECTOR HAS A MATERIAL FINANCIAL INTEREST OR OF WHICH THE DIRECTOR IS AN OFFICER, DIRECTOR OR GENERAL PARTNER. (B) THE TRANSACTION SHALL BE APPROVED IN GOOD FAITH BY THE BOARD OF DIRECTORS OR A COMMITTEE OF THE BOARD BY THE AFFIRMATIVE VOTE OF: (I) A MAJORITY OF THE DISINTERESTED DIRECTORS; OR (II) A MAJORITY OF ALL THE DIRECTORS ON THE BOARD OR COMMITTEE AFTER DECIDING THAT THE TRANSACTION IS FAIR TO THE FOUNDATION AS OF THE TIME IT IS AUTHORIZED BY THE BOARD OR COMMITTEE. THE PRESENCE OF AN INTERESTED DIRECTOR OR OF A DIRECTOR WHO IS OTHERWISE NOT DISINTERESTED MAY BE COUNTED IN DETERMINING WHETHER A QUORUM OF THE BOARD OF DIRECTORS OR A COMMITTEE OF THE BOARD IS PRESENT. THE BOARD OF DIRECTORS MAY IN ITS DISCRETION ADOPT OTHER PROCEDURES AS THE BOARD DETERMINES IS APPROPRIATE TO ADDRESS CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 1, ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III, LINE 4A, PROGRAM SERVICES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalLiabilitiesEOYAmt035575
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IRS990/TotalLiabilitiesGrp/EOYAmt035575
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalReportableCompFromOrgAmt00
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IRS990/WebsiteAddressTxt0WWW.SILVERSTEINFOUNDATION.ORG
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NATALIE SILVERSTEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRES/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09175198108
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE SILVERSTEIN FOUNDATION FOR
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0PARKINSON'S WITH GBA
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ReturnHeader/Filer/PhoneNum09175198108
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 237137
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010023
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0135565207
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KPMG LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0345 PARK AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0101540102
ReturnHeader/PreparerPersonGrp/PhoneNum02127589700
ReturnHeader/PreparerPersonGrp/PreparationDt02021-10-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID M HIGHFILL
ReturnHeader/ReturnTs02021-10-01T16:27:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0NATALIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SILVERSTEIN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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