Cortex
- Assets
- $86.5m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 20
- Location
- St Louis, MO
- Founding
- 06/2002
- Data as of
- 12/2021
- EIN
- 30-0082817
Organization Overview
Cortex is located in St Louis, MO. The organization was established in 2002. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Cortex employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cortex 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, Cortex generated $5.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $7.5m during the year ending 12/2021. 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
FOUNDED IN 2002, CORTEX MISSION IS THE CREATION OF THE MIDWEST'S PREMIER INNOVATION HUB OF BIOSCIENCE AND TECHNOLOGY RESEARCH, DEVELOPMENT AND COMMERCIALIZATION, SERVING AS THE ANCHOR OF ST. LOUIS' GROWING ECOSYSTEM FOR INNOVATIVE STARTUP PROGRAMS AND ESTABLISHED COMPANIES THROUGH URBAN REVITALIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN ADDITION TO CORTEX'S ACQUISITION/DEVELOPMENT OF REAL ESTATE AND THE PROMOTION OF DEVELOPMENT ACTIVITIES OF THE CORTEX INNOVATION DISTRICT, CORTEX SERVES AS THE MANAGER OF ST. LOUIS LAND COMPANY, L.L.C. (SLLC) A MISSOURI LIMITED LIABILITY COMPANY, THAT SERVES AS A LAND HOLDING ENTITY IN THE REVITALIZATION OF AN APPROXIMATE 200 ACRE TRACT OF LAND IN MIDTOWN ST. LOUIS THAT WILL SERVE AS A CENTER OF RESEARCH, TECHNOLOGY AND ENTREPRENEURIAL EXCHANGE. CORTEX IS THE MANAGER OF SLLC AND INCURRED EXPENSES IN DEVELOPING AND MAINTAINING THE PROPERTIES.
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 |
|---|---|---|---|
Sam Fiorello President & CEO | OfficerTrustee | 40 | $415,000 |
Michael Sullivan Senior VP & General Counsel (former) | 40 | $189,479 | |
Mike Bozovich Assistant Treasurer, Senior VP & CFO | Officer | 40 | $170,481 |
Phyllis Ellison Vice President (former) | 40 | $134,287 | |
Brian Russell Vice President | 40 | $106,731 | |
Gabriela Ramirez-Arellano Executive Director | 40 | $101,115 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tarlton Corporation Construction Services | 12/30/19 | $5,696,086 |
Hellmuth Obata & Kassebaum Architect & Design Services | 12/30/19 | $105,888 |
Lewis Rice Llc Legal Services | 12/30/19 | $103,884 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $300,805 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,280,155 |
| Noncash contributions included in lines 1a–1f | $2,025,280 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,580,960 |
| Total Program Service Revenue | $2,608,230 |
| Investment income | $6,838 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,279,863 |
| 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. | $1,042,940 |
| Compensation of current officers, directors, key employees. | $192,704 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $431,194 |
| Pension plan accruals and contributions | $116,322 |
| Other employee benefits | $272,685 |
| Payroll taxes | $0 |
| Fees for services: Management | $118,512 |
| Fees for services: Legal | $100,476 |
| Fees for services: Accounting | $41,474 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $544,644 |
| Advertising and promotion | $45,607 |
| Office expenses | $57,689 |
| Information technology | $97,582 |
| Royalties | $0 |
| Occupancy | $957,786 |
| Travel | $3,289 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $990,503 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,790,191 |
| Insurance | $79,635 |
| All other expenses | $0 |
| Total functional expenses | $7,490,040 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $231,304 |
| Savings and temporary cash investments | $1,166,945 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125,079 |
| 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 | $20,317 |
| Net Land, buildings, and equipment | $47,255,795 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,744,401 |
| Total assets | $86,543,841 |
| Accounts payable and accrued expenses | $201,548 |
| 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 | $25,040,104 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,217,143 |
| Total liabilities | $53,458,795 |
| Net assets without donor restrictions | $33,085,046 |
| Net assets with donor restrictions | $0 |
| 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 | $86,543,841 |
Grants Awarded
Over the last fiscal year, Cortex has awarded $16,665 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
St Louis, MO PURPOSE: GENERAL | $9,665 |
New York, NY PURPOSE: GENERAL | $7,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cortex has recieved totaling $245,113.
| Awarding Organization | Amount |
|---|---|
Bjc Health System St Louis, MO PURPOSE: SUPPORT COMMUNITY IMPROVEMENTS AND FOSTER URBAN GROWTH. | $245,113 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Eastern Iowa Davenport, IA | $4,145,446 | $19,807,458 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |
Northern Kentucky Community Action Commisson Inc Covington, KY | $8,823,439 | $18,121,235 |
Embarras River Basin Agency Inc Greenup, IL | $2,961,671 | $18,793,359 |
Jefferson Franklin Community Action Corporation Hillsboro, MO | $6,544,452 | $18,340,130 |
Tri-County Opportunities Council Rock Falls, IL | $4,101,390 | $18,238,868 |
Upper Des Moines Opportunity Inc Graettinger, IA | $5,376,639 | $17,208,548 |
Central Nebraska Community Action Partnership Inc Loup City, NE | $11,182,517 | $15,277,585 |
Community Action Agency Of Siouxland Sioux City, IA | $5,735,581 | $15,017,682 |
Mid-Iowa Community Action -Mica- Incorporated Marshalltown, IA | $3,849,705 | $14,587,976 |
Northwest Arkansas Council Foundation Springdale, AR | $9,473,428 | $13,530,717 |