Ibio Institute
- Assets
- $850.5k
- Revenue
- $573.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 03/2004
- Data as of
- 12/2021
- EIN
- 32-0092551
Organization Overview
Ibio Institute is located in Chicago, IL. The organization was established in 2004. According to its NTEE Classification (U30) the organization is classified as: Physical & Earth Sciences, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ibio Institute 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, Ibio Institute generated $573.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.1%) each year. All expenses for the organization totaled $632.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.2%) per year over the past 7 years. 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 CREATE A GLOBALLY RECOGNIZED BIOTECHNOLOGY CENTER IN CHICAGO AND THE SURROUNDING MIDWEST REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATE - DELIVERS INDUSTRY-LED SCIENCE AND MATH PROGRAMS TO TEACHERS AND STUDENTS, THEREBY CONNECTING CLASSROOMS TO REAL WORLD BIOTECHNOLOGY AND SCIENCE-BASED INDUSTRY AND INSPIRING THE NEXT GENERATION OF INNOVATORS AND HELPING RESTORE AMERICA'S LEADERSHIP IN TECHNOLOGY EDUCATION.
BIO COVID19 PPE RESPONSE FUND, WE WILL; ACCELERATE AND EXPAND RESEARCH EFFORTS AND DEVELOP INNOVATIVE SOLUTIONS TO PREVENT, DIAGNOSE, TREAT AND STOP THE SPREAD OF FUTURE PANDEMICS AND TO MINIMIZE THE IMPACT ON OUR COMMUNITY. IN THE EVENT THAT THERE ARE UNUSED FUNDS, FUNDS WILL BE USED TO SUPPORT THE ILLINOIS HEALTHCARE ECOSYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Ducommun Corporate Secretary | OfficerTrustee | 0.5 | $0 |
Norbert Riedel PHD Member At Large | OfficerTrustee | 0.5 | $0 |
Gretchen Johnson Member At Large | OfficerTrustee | 0.5 | $0 |
Blair Komasinski Treasurer | OfficerTrustee | 0.5 | $0 |
Mayebeth Hadfield Member At Large | OfficerTrustee | 0.5 | $0 |
John Larson Chairman | Officer | 0.5 | $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 | $150,538 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,538 |
| Total Program Service Revenue | $419,286 |
| Investment income | $0 |
| 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 | $573,324 |
| 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 | $135,094 |
| Pension plan accruals and contributions | $4,054 |
| Other employee benefits | $831 |
| Payroll taxes | $11,188 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,050 |
| Fees for services: Accounting | $20,981 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $96,334 |
| Advertising and promotion | $39,845 |
| Office expenses | $6,882 |
| Information technology | $2,649 |
| Royalties | $0 |
| Occupancy | $137,764 |
| Travel | $2,583 |
| 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 | $1,953 |
| Insurance | $11,302 |
| All other expenses | $2,554 |
| Total functional expenses | $632,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $431,798 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,063 |
| 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 | $6,123 |
| Net Land, buildings, and equipment | $5,034 |
| Investments—publicly traded securities | $7,592 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $396,872 |
| Total assets | $850,482 |
| Accounts payable and accrued expenses | $34,730 |
| Grants payable | $0 |
| Deferred revenue | $42,500 |
| 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 | $259,926 |
| Total liabilities | $337,156 |
| Net assets without donor restrictions | -$692,098 |
| Net assets with donor restrictions | $1,205,424 |
| 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 | $850,482 |
Grants Awarded
Over the last fiscal year, Ibio Institute has awarded $0 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BBCETC PURPOSE: FUNDING TO SUPPORT CHICAGO INNOVATION MENTORS ENTREPRENEURSHIP PROGRAM. | $0 |
EDGE SURGICAL PURPOSE: PROPEL AWARD PROGRAM | $0 |
THIRD COAST THERAPEUTICS PURPOSE: PROPEL AWARD PROGRAM | $0 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ibio Institute has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Medline Foundation Northfield, IL PURPOSE: GENERAL ASSISTANCE | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sequoia Farm Foundation Decatur, IL | $86,746,867 | $4,418,123 |
Gulfstream Aerospace Corporation Retiree Benefits Trust Chicago, IL | $35,504,477 | $4,199,760 |
Bulletin Of The Atomic Scientists Chicago, IL | $1,707,811 | $1,689,150 |
Ibio Institute Chicago, IL | $850,482 | $573,324 |
International Union United Automobile Aerospace & Agricultura Ottawa, IL | $167,730 | $593,055 |
International Union Uaw Local 2379 Jefferson City, MO | $248,551 | $511,230 |
International Union United Automobile Aerospace & Agriculture Kokomo, IN | $434,429 | $426,808 |
Aviation Insurance Association Lexington, KY | $382,970 | $232,231 |
International Union United Auto Aerospace & Agricultural Workers St Louis, MO | $264,088 | $246,149 |
International Union United Auto Aerospace & Agricultural Workers Ottawa, IL | $432,394 | $257,278 |
International Union United Auto Aerospace & Agri Wrkrs Of America La Grange, IL | $207,988 | $0 |
American Foundry Society Wi Chapter Germantown, WI | $380,181 | $0 |