Terasaki Innovation Center Inc
- Assets
- $6.1m
- Revenue
- $906.5k
- Investments
- $4.3m
- Employees
- 0
- Location
- Glendale, CA
- Founding
- Data as of
- 12/2023
- EIN
- 84-4969549
Organization Overview
Terasaki Innovation Center Inc is located in Glendale, CA. According to its NTEE Classification (H90) the organization is classified as: Medical Disciplines Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Terasaki Innovation Center 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 12/2023, Terasaki Innovation Center Inc generated $906.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (37.6%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FACILITATE DISCOVERY AND DEVELOPMENT OF NEW TOOLS AND ASSAYS NEEDED TO DIAGNOSE AND MANAGE REJECTION IN HUMAN ORGAN TRANSPLANTATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ricardo Ordonez President | 20 | $0 | |
Dr Jar How Lee Treasurer | 20 | $0 | |
Dr Mayra Lopez-Cepero Secretary | 0.5 | $0 | |
Dr Mark Terasaki Chairman Of The Board | 0.5 | $0 | |
Dr Peter Nickerson Board Member | 0.5 | $0 | |
Dr Robert Bray Board Member | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $858,981 |
| Interest on Savings | $9,161 |
| Dividends & Interest | $38,641 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$293 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $906,490 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $143,915 |
| Other employee salaries and wages | $493,050 |
| Pension plans, employee benefits | $66,027 |
| Interest | $0 |
| Taxes | $40,121 |
| Depreciation | $101,098 |
| Occupancy | $24,275 |
| Travel, conferences, and meetings | $25,188 |
| Printing and publications | $0 |
| Other expenses | $164,481 |
| Total operating and administrative expenses | $1,109,375 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,109,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $488,630 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,251,715 |
| Net Land, buildings, and equipment | $353,843 |
| Other assets | $992,680 |
| Total assets | $6,086,868 |
| Accounts payable and accrued expenses | $18,131 |
| Grants payable | $0 |
| Deferred revenue | $120,008 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $74,821 |
| Total liabilities | $212,960 |