Totals
- Total revenue
- $28,657,000
- Total expenses
- $27,336,000
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $28,520,000
- Investment income
- $137,000
- Other revenue
- $0
- Total assets, end of year
- $42,170,000
- Total liabilities, end of year
- $11,779,000
- Net assets or fund balances, end of year
- $30,391,000
- Program services expenses (Part IX)
- $22,172,000
- Management and general expenses
- $5,164,000
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $22,172,000
Program services were 81.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Scientific Research
total $28,520,000 · related or exempt $28,353,000 · unrelated business $167,000 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $137,000 · related or exempt $0 · unrelated business $137,000 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0 · program services $0
-
2 · Grants to domestic individuals
total $0 · program services $0
-
3 · Grants to foreign organizations and individuals
total $0 · program services $0
-
4 · Benefits paid to or for members
total $0 · program services $0
-
5 · Compensation of officers, directors and key employees
total $1,858,000 · program services $962,000 · management and general $896,000 · fundraising $0
-
6 · Compensation of disqualified persons
total $0 · program services $0 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $7,894,000 · program services $5,825,000 · management and general $2,069,000 · fundraising $0
-
8 · Pension plan contributions
total $700,000 · program services $555,000 · management and general $145,000 · fundraising $0
-
9 · Other employee benefits
total $1,968,000 · program services $1,496,000 · management and general $472,000 · fundraising $0
-
10 · Payroll taxes
total $763,000 · program services $572,000 · management and general $191,000 · fundraising $0
-
11a · Fees: management
total $0 · program services $0 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $174,000 · program services $0 · management and general $174,000 · fundraising $0
-
11c · Fees: accounting
total $84,000 · program services $0 · management and general $84,000 · fundraising $0
-
11d · Fees: lobbying
total $0 · fundraising $0
-
11e · Fees: professional fundraising services
total $0 · fundraising $0
-
11f · Fees: investment management
total $15,000 · management and general $15,000 · fundraising $0
-
11g · Fees: other
total $263,000 · program services $247,000 · management and general $16,000 · fundraising $0
-
12 · Advertising and promotion
total $0 · fundraising $0
-
13 · Office expenses
total $125,000 · program services $70,000 · management and general $55,000 · fundraising $0
-
14 · Information technology
total $131,000 · program services $131,000 · management and general $0 · fundraising $0
-
15 · Royalties
total $0 · program services $0 · management and general $0 · fundraising $0
-
16 · Occupancy
total $1,447,000 · program services $1,167,000 · management and general $280,000 · fundraising $0
-
17 · Travel
total $97,000 · program services $74,000 · management and general $23,000 · fundraising $0
-
18 · Travel or entertainment for public officials
total $0 · program services $0 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $34,000 · program services $20,000 · management and general $14,000 · fundraising $0
-
20 · Interest
total $122,000 · management and general $122,000 · fundraising $0
-
21 · Payments to affiliates
total $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $2,314,000 · program services $2,059,000 · management and general $255,000 · fundraising $0
-
23 · Insurance
total $206,000 · management and general $206,000 · fundraising $0
-
24a · Other expenses: Lab-Operating Supplies & Services
total $5,033,000 · program services $5,033,000 · management and general $0 · fundraising $0
-
24b · Other expenses: Subcontracts & Consultants
total $3,834,000 · program services $3,814,000 · management and general $20,000 · fundraising $0
-
24c · Other expenses: AR Writeoffs
total $68,000 · program services $0 · management and general $68,000 · fundraising $0
-
24e · All other expenses
total $206,000 · program services $147,000 · management and general $59,000 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $680,000 · end of year $242,000
-
2 · Savings and temporary cash investments
beginning of year $547,000 · end of year $316,000
-
4 · Accounts receivable
beginning of year $7,174,000 · end of year $5,598,000
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $460,000 · end of year $402,000
-
10a · Land, buildings and equipment: cost or other basis
$72,348,000
-
10b · Land, buildings and equipment: accumulated depreciation
$40,981,000
-
10c · Land, buildings and equipment, net
beginning of year $29,525,000 · end of year $31,367,000
-
11 · Investments: publicly traded securities
beginning of year $3,732,000 · end of year $2,982,000
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $1,527,000 · end of year $1,263,000
-
17 · Accounts payable and accrued expenses
beginning of year $4,217,000 · end of year $5,674,000
-
19 · Deferred revenue
beginning of year $6,015,000 · end of year $2,393,000
-
20 · Tax-exempt bond liabilities
beginning of year $2,840,000 · end of year $2,320,000
-
25 · Other liabilities
beginning of year $1,630,000 · end of year $1,392,000
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $28,943,000 · end of year $30,391,000
Mission and programs · 2023
Mission
Perform basic research and preclinical efficacy assessments of new molecular entities being developed for the prevention and treatment of cancer and infectious disease. Discover new pathways and targets for the design and development of new small molecule therapeutics and biotherapeutic agents.
Activities or mission (Part I)
Research and development directed towards the prevention and cure of disease.
-
Working with scientists from the U.S. National Cancer Institute and other organizations, perform basic research and preclinical efficacy assessments of new molecular entities being developed for the prevention and treatment of infectious disease, with particular emphasis on pathogenic agents of interest to the biodefense community. Working with the Department of Defense and other agencies, support the development of vaccines and therapeutic entities for infectious agents. Working with scientists from the U.S. National Institutes of Health and other agencies, perform preclinical assessments of small molecule therapeutics and biotherapeutics being developed for the treatment of stroke, tissue fibrosis, neurologic diseases, and other disease entities.
Expenses $22,172,000 · Revenue $28,353,000
As filed on the 2023 return.
Listed in Part VII
-
David McCormick
President & Director
- Total calculated
- $451,846
- From this org
- $377,150
- From related orgs
- $0
- Other
- $74,696
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $344,556
- Bonus
- $0
- Other
- $0
- Deferred
- $10,270
- Nontaxable benefits
- $16,500
- Filer's total
- $371,326
-
Todd Bucciarelli
AVP & Business Development Manager
- Total calculated
- $335,979
- From this org
- $280,549
- From related orgs
- $0
- Other
- $55,430
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $159,660
- Bonus
- $110,500
- Other
- $0
- Deferred
- $9,399
- Nontaxable benefits
- $47,811
- Filer's total
- $327,370
-
Robert Baker
AVP & Mgr Microbiology & Molecular Biology
- Total calculated
- $254,050
- From this org
- $213,339
- From related orgs
- $0
- Other
- $40,711
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $205,957
- Bonus
- $0
- Other
- $0
- Deferred
- $17,627
- Nontaxable benefits
- $15,702
- Filer's total
- $239,286
-
Kelly Garcia
Attending Veterinarian
- Total calculated
- $251,183
- From this org
- $206,845
- From related orgs
- $0
- Other
- $44,338
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $199,065
- Bonus
- $0
- Other
- $0
- Deferred
- $17,036
- Nontaxable benefits
- $19,519
- Filer's total
- $235,620
-
Nicole Kozub
Laboratory Biologist IV/Supervisor
- Total calculated
- $230,506
- From this org
- $200,403
- From related orgs
- $0
- Other
- $30,103
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $195,207
- Bonus
- $0
- Other
- $0
- Deferred
- $3,367
- Nontaxable benefits
- $33,072
- Filer's total
- $231,646
-
Thomas Horn
Deputy Division Manager Toxicology
- Total calculated
- $222,097
- From this org
- $178,970
- From related orgs
- $0
- Other
- $43,127
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $170,316
- Bonus
- $0
- Other
- $0
- Deferred
- $14,954
- Nontaxable benefits
- $710
- Filer's total
- $185,980
-
David Kaplan
Assistant Vice President & Director of Contracts
- Total calculated
- $214,877
- From this org
- $189,311
- From related orgs
- $0
- Other
- $25,566
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $186,549
- Bonus
- $0
- Other
- $0
- Deferred
- $5,929
- Nontaxable benefits
- $44,006
- Filer's total
- $236,484
-
Sudhakar Parthasarathy
Head, Analytical Chemistry
- Total calculated
- $205,729
- From this org
- $190,529
- From related orgs
- $0
- Other
- $15,200
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $190,529
- Bonus
- $0
- Other
- $0
- Deferred
- $15,200
- Nontaxable benefits
- $35,121
- Filer's total
- $240,850
-
Aleemuddin Muhammad
Manager of IT & Cybersecurity
- Total calculated
- $201,192
- From this org
- $155,491
- From related orgs
- $0
- Other
- $45,701
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $144,911
- Bonus
- $0
- Other
- $0
- Deferred
- $13,251
- Nontaxable benefits
- $21,871
- Filer's total
- $180,033
-
Landon Westfall
Deputy Division Manager
- Total calculated
- $193,166
- From this org
- $167,079
- From related orgs
- $0
- Other
- $26,087
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $162,253
- Bonus
- $0
- Other
- $0
- Deferred
- $13,709
- Nontaxable benefits
- $7,343
- Filer's total
- $183,305
-
Mary Smeaton
Manager, Human Resources
- Total calculated
- $173,385
- From this org
- $138,201
- From related orgs
- $0
- Other
- $35,184
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $130,277
- Bonus
- $0
- Other
- $0
- Deferred
- $4,705
- Nontaxable benefits
- $22,424
- Filer's total
- $157,406
-
Rajagopal R Echambadi
Chairman & CEO
- Total calculated
- $0
- Hours/week
- 0 + 40 related
-
Walter Hazlitt
Secretary & Interim General Counsel
- Total calculated
- $0
- Hours/week
- 0 + 40 related
-
Jeremy Fine
Treasurer, VP Finance & CFO
- Total calculated
- $0
- Hours/week
- 0 + 40 related
-
Elizabeth Hudson
Provost, SVP Academic Affairs & Member
- Total calculated
- $0
- Hours/week
- 0 + 40 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 5a · Pay contingent on this organization's revenues
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part I, Line 5
- Business Development personnel receive bonuses based on revenue.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
Illinois Institute of Technology
501(c)(3) · Education · IL
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Technology Research Inc
C · Refer to Part VII · DE · 100% owned · share of income $100 · share of assets $100
Directly controlled by IIT Research Institute
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 August 2025
- IRS schema version
- 2023v6.0
- Source object
- 202512269349301231
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