Skip to content
Nonprofiteer
← JOAN AND IRWIN JACOBS TECHNION-CORNELL INNOVATION INSTIT

Form 990 for tax year 2022

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

Totals

Total revenue
$16,992,517
Total expenses
$28,082,450
Contributions and grants received
$3,568,594
Grants paid
$3,993,504
Program service revenue
$13,610,514
Investment income
-$199,055
Other revenue
$12,464
Total assets, end of year
$199,052,060
Total liabilities, end of year
$1,048,819
Net assets or fund balances, end of year
$198,003,241
Program services expenses (Part IX)
$24,399,309
Management and general expenses
$3,683,141
Fundraising expenses
$0
Program service expenses (Part III)
$24,399,309

Program services were 86.9% 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

    $3,568,594

  • 2a · Program service revenue: TUITION

    total $10,687,387 · related or exempt $10,687,387

  • 2b · Program service revenue: RESEARCH

    total $2,841,459 · related or exempt $2,841,459

  • 2c · Program service revenue: APPLICATION FEES

    total $45,668 · related or exempt $45,668

  • 2d · Program service revenue: OTHER SOURCES

    total $36,000 · related or exempt $36,000

  • 3 · Investment income

    total $6,157,726 · excluded $6,157,726

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $8,187 · excluded $8,187

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $6,163,913

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

    securities $12,520,694

  • 7c · Gain or loss

    securities -$6,356,781

  • 7d · Net gain or loss

    total -$6,356,781 · excluded -$6,356,781

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: OTHER

    total $4,277 · excluded $4,277

  • 11e · Other revenue, total

    $4,277

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,993,504 · program services $3,993,504

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $153,813 · management and general $153,813

  • 11c · Fees: accounting

    total $18,000 · management and general $18,000

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $20,405,805 · program services $20,156,030 · management and general $249,775

  • 12 · Advertising and promotion

    total $2,460 · program services $2,337 · management and general $123

  • 13 · Office expenses

    total $2,439,829 · management and general $2,439,829

  • 14 · Information technology

    total $8,230 · program services $7,819 · management and general $411

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $821,190 · management and general $821,190

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $181,033 · program services $181,033

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $58,586 · program services $58,586

  • 23 · Insurance

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $6,308,423 · end of year $3,425,598

  • 4 · Accounts receivable

    beginning of year $602,506 · end of year $699,918

  • 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 $0 · end of year $0

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

    $356,725

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

    $183,712

  • 10c · Land, buildings and equipment, net

    beginning of year $167,477 · end of year $173,013

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $168,791,006 · end of year $169,315,332

  • 13 · Investments: program-related

    beginning of year $9,408,294 · end of year $9,936,177

  • 14 · Intangible assets

    beginning of year $516,443 · end of year $515,220

  • 15 · Other assets

    beginning of year $18,140,128 · end of year $14,986,802

  • 17 · Accounts payable and accrued expenses

    beginning of year $458,344 · end of year $1,048,819

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    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 $17,444,106 · end of year $15,601,199

  • 28 · Net assets with donor restrictions

    beginning of year $186,031,827 · end of year $182,402,042

Mission and programs · 2022

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 $22,570,800 · Grants $3,993,504 · Revenue $13,610,514

  • 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 $1,828,509

As filed on the 2022 return.

Listed in Part VII

  • Michael Kotlikoff

    Trustee & Provost

    Total calculated
    $0
    Hours/week
    2

  • Oded Rabinovitch

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Ariel Orda

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Rafi Aviram

    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

  • Simon PM Allen

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • John M Kleinberg

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Donica Thomas Varner

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Michael Weissman

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Israel Cidon

    Director

    Total calculated
    $0
    Hours/week
    50

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
2022
Filed
30 March 2024
IRS schema version
2022v5.0
Source object
202441359349311004

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.