Usher Iii Initiative Inc
- Assets
- $1.3m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 07/2011
- Data as of
- 12/2021
- EIN
- 27-2523450
Organization Overview
Usher Iii Initiative Inc is located in Chicago, IL. The organization was established in 2011. According to its NTEE Classification (G12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Usher Iii Initiative Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Usher Iii Initiative Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.9% each year . All expenses for the organization totaled $2.0m during the year ending 12/2021. While expenses have increased by 34.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IDENTIFY THERAPIES, TREATMENTS AND A CURE FOR USHER SYNDROME TYPE III.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUE DEVELOPMENT OF LEAD DRUG COMPOUND TO TREAT USHER SYNDROME TYPE 3, INCLUDING RESEARCH, PRE-CLINICAL SAFETY STUDIES AND MANUFACTURING.
OTHER PROGRAM EXPENSES INCLUDING OVERSIGHT, ADMINISTRATION, EVALUATION AND PATENT REGISTRATION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Elden President | OfficerTrustee | 6 | $0 |
Alicia Derrah Treasurer, Secretary | Officer | 6 | $0 |
Mark Ackermann Director | Trustee | 1 | $0 |
Dr David Saperstein Director | Trustee | 1 | $0 |
Michael Kraines Director | Trustee | 1 | $0 |
Dr Paul Sternberg Jr Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,484,502 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,484,502 |
| Total Program Service Revenue | $0 |
| Investment income | $27 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$15,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,469,529 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $187,000 |
| Fees for services: Accounting | $11,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,633,272 |
| Advertising and promotion | $0 |
| Office expenses | $3,978 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,442 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $150 |
| Total functional expenses | $1,950,640 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $884,143 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $333,234 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $120,000 |
| Total assets | $1,337,377 |
| Accounts payable and accrued expenses | $222,693 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $222,693 |
| Net assets without donor restrictions | $658,207 |
| Net assets with donor restrictions | $456,477 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,337,377 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Usher Iii Initiative Inc has recieved totaling $25,024.
| Awarding Organization | Amount |
|---|---|
Smart Family Foundation Of New York New Rochelle, NY PURPOSE: SUPPORT RESEARCH AND CURE FOR USHER III | $25,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $24 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Usher Iii Initiative Inc Chicago, IL | $1,337,377 | $2,469,529 |
Resort Charity Events Inc Bloomington, IN | $167,488 | $1,958,916 |
Fairwaycares Inc Madison, WI | $4,640,276 | $2,059,491 |
Disability Resource In Homeservices Inc Festus, MO | $80,012 | $820,552 |
Ollie Hinkle Heart Foundation Webster Groves, MO | $1,363,542 | $833,389 |
Thompson Foundation For Autism Columbia, MO | $1,001,844 | $651,075 |
Danny Did Foundation Evanston, IL | $2,130,382 | $1,124,024 |
Glut1 Deficiency Foundation Inc Owingsville, KY | $447,949 | $776,976 |
Illinois Cancercare Foundation Peoria, IL | $1,967,490 | $900,745 |
Kendyl And Friends Foundation Inc Burgin, KY | $229,614 | $576,619 |
Friends Of The St Louis University Liver Center Chesterfield, MO | $247,779 | $567,898 |
Frans Hope Foundation Saint Louis, MO | $0 | -$16,687 |