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← JOAN AND IRWIN JACOBS TECHNION-CORNELL INNOVATION INSTIT

Form 990 for tax year 2023

Filed by JOAN AND IRWIN JACOBS TECHNION-CORNELL INNOVATION INSTIT.

Totals

Total revenue
$29,069,601
Total expenses
$30,031,578
Contributions and grants received
$6,683,545
Grants paid
$3,528,322
Program service revenue
$15,997,241
Investment income
$6,366,831
Other revenue
$21,984
Total assets, end of year
$203,412,008
Total liabilities, end of year
$717,384
Net assets or fund balances, end of year
$202,694,624
Program services expenses (Part IX)
$26,433,378
Management and general expenses
$3,598,200
Fundraising expenses
$0
Program service expenses (Part III)
$26,433,378

Program services were 88.0% 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.

  • 1f · All other contributions, gifts and grants

    $6,683,545

  • 1g · Noncash contributions included above

    $205,448

  • 2a · Program service revenue: TUITION

    total $12,487,706 · related or exempt $12,487,706

  • 2b · Program service revenue: RESEARCH

    total $3,350,827 · related or exempt $3,350,827

  • 2c · Program service revenue: APPLICATION FEES

    total $48,316 · related or exempt $48,316

  • 2d · Program service revenue: OTHER SOURCES

    total $110,392 · related or exempt $110,392

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $6,366,831 · excluded $6,366,831

  • 5 · Royalties

    total $7,853 · excluded $7,853

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $6,311,454

  • 7b · Less cost or other basis and sales expenses

    securities $6,311,454

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: OTHER

    total $14,131 · excluded $14,131

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $14,131

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,528,322 · program services $3,528,322

  • 11b · Fees: legal

    total $206,838 · management and general $206,838

  • 11c · Fees: accounting

    total $96,500 · management and general $96,500

  • 11g · Fees: other

    total $22,732,952 · program services $22,732,952 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $2,659,595 · management and general $2,659,595

  • 17 · Travel

    total $635,267 · management and general $635,267

  • 19 · Conferences, conventions and meetings

    total $97,042 · program services $97,042

  • 22 · Depreciation, depletion and amortization

    total $75,062 · program services $75,062

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 3 · Pledges and grants receivable

    beginning of year $3,425,598 · end of year $1,268,554

  • 4 · Accounts receivable

    beginning of year $699,918 · end of year $643,768

  • 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

  • 10a · Land, buildings and equipment: cost or other basis

    $455,778

  • 10b · Land, buildings and equipment: accumulated depreciation

    $271,524

  • 10c · Land, buildings and equipment, net

    beginning of year $173,013 · end of year $184,254

  • 12 · Investments: other securities

    beginning of year $169,315,332 · end of year $186,775,420

  • 13 · Investments: program-related

    beginning of year $9,936,177 · end of year $1,214,919

  • 14 · Intangible assets

    beginning of year $515,220 · end of year $720,669

  • 15 · Other assets

    beginning of year $14,986,802 · end of year $12,604,424

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,048,819 · end of year $681,033

  • 19 · Deferred revenue

    end of year $36,351

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $15,601,199 · end of year $13,257,730

  • 28 · Net assets with donor restrictions

    beginning of year $182,402,042 · end of year $189,436,894

Mission and programs · 2023

Mission

ADMINISTRATION OF DUAL MASTERS DEGREE PROGRAM AWARDED BY TECHNION-ISRAEL INSTITUTE OF TECHNOLOGY AND CORNELL UNIVERSITY. PROVIDE RESEARCH ENVIRONMENT FOR FACULTY, RESEARCHERS, AND STUDENTS.

Activities or mission (Part I)

ADMINISTRATION OF DUAL MASTERS DEGREE PROGRAM AWARDED BY TECHNION-ISRAEL INSTITUTE OF TECHNOLOGY AND CORNELL PROVIDE RESEARCH ENVIRONMENT FOR FACULTY, RESEARCHERS AND STUDENTS.

  • THE JOAN AND IRWIN JACOBS TECHNION-CORNELL INSTITUTE, INC. (JACOBS) WAS FORMED IN APRIL 2013 TO ADMINISTER A DUAL MASTERS DEGREE PROGRAM AWARDED BY TECHNION-ISRAEL INSTITUTE OF TECHNOLOGY (TECHNION) AND CORNELL UNIVERSITY. THE PROGRAM CONDUCTS AND SUPPORTS SCIENTIFIC AND TECHNOLOGICAL RESEARCH AND ENCOURAGES THE DEVELOPMENT OF THE INDUSTRY.

    Expenses $24,470,752 · Grants $3,528,322 · Revenue $15,997,241

  • JACOBS' RUNWAY PROGRAM IS A UNIQUE PROGRAM THAT GIVES RECENT PHD'S INTERESTED IN ENTREPENEURSHIP IN TECHNOLOGY THE OPPORTUNITY TO DRAW ON THEIR RESEARCH KNOWLEDGE TO LAUNCH NEW VENTURES WITH THE ACADEMIC, PROFESSIONAL, AND NETWORKING SUPPORT FROM JACOBS.

    Expenses $1,962,626

As filed on the 2023 return.

Listed in Part VII

  • Michael Kotlikoff

    TRUSTEE & PROVOST

    Total calculated
    $0
    Hours/week
    2

  • Ariel Orda

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Avigdor Gal

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Greg Morrisett

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Laura Syer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mark Lewis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Oded Rabinovitch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rafi Aviram

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Donica Thomas Varner

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Israel Cidon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    50

  • Michael Weissman

    TREASURER

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202511349349304781

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