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Nonprofiteer
← INDIANA BIOSCIENCES RESEARCH INSTITUTE INC

Form 990 for tax year 2023

Filed by INDIANA BIOSCIENCES RESEARCH INSTITUTE INC.

Totals

Total revenue
$4,463,852
Total expenses
$15,792,698
Contributions and grants received
$2,480,756
Grants paid
$0
Program service revenue
$1,280,924
Investment income
$694,936
Other revenue
$7,236
Total assets, end of year
$150,111,240
Total liabilities, end of year
$26,683,295
Net assets or fund balances, end of year
$123,427,945
Program services expenses (Part IX)
$12,889,385
Management and general expenses
$2,186,020
Fundraising expenses
$717,293
Program service expenses (Part III)
$12,889,385

Program services were 81.6% 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.

  • 1e · Government grants (contributions)

    $698,819

  • 1f · All other contributions, gifts and grants

    $1,781,937

  • 1g · Noncash contributions included above

    $162,895

  • 2a · Program service revenue: Research Collaboration

    total $1,135,640 · related or exempt $1,135,640

  • 2b · Program service revenue: Research Services

    total $145,284 · related or exempt $145,284

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $1,112,738 · unrelated business -$12,522 · excluded $1,125,260

  • 6a · Gross rents

    real property $404,525

  • 6b · Less rental expenses

    real property $429,792

  • 6c · Rental income or loss

    real property -$25,267 · personal property $0

  • 6d · Net rental income or loss

    total -$25,267 · excluded -$25,267

  • 7a · Gross sales of assets other than inventory

    securities $58,824,799

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

    securities $59,242,601

  • 7c · Gain or loss

    securities -$417,802 · other assets $0

  • 7d · Net gain or loss

    total -$417,802 · excluded -$417,802

  • 11a · Other revenue: Miscellaneous Income

    total $32,503 · related or exempt $32,503

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $32,503

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,250,861 · program services $1,006,987 · management and general $168,273 · fundraising $75,601

  • 7 · Other salaries and wages

    total $3,980,105 · program services $3,204,123 · management and general $535,427 · fundraising $240,555

  • 8 · Pension plan contributions

    total $171,822 · program services $138,323 · management and general $23,114 · fundraising $10,385

  • 9 · Other employee benefits

    total $362,383 · program services $291,731 · management and general $48,750 · fundraising $21,902

  • 10 · Payroll taxes

    total $326,462 · program services $262,813 · management and general $43,918 · fundraising $19,731

  • 11b · Fees: legal

    total $48,506 · program services $36,005 · management and general $9,139 · fundraising $3,362

  • 11c · Fees: accounting

    total $122,912 · management and general $122,912

  • 11d · Fees: lobbying

    total $62,571 · program services $46,445 · management and general $11,789 · fundraising $4,337

  • 11e · Fees: professional fundraising services

    total $55,842 · fundraising $55,842

  • 11f · Fees: investment management

    total $554,541 · program services $411,619 · management and general $104,483 · fundraising $38,439

  • 11g · Fees: other

    total $742,736 · program services $551,311 · management and general $139,941 · fundraising $51,484

  • 12 · Advertising and promotion

    total $399,773 · program services $272,346 · management and general $95,896 · fundraising $31,531

  • 13 · Office expenses

    total $32,934 · program services $22,436 · management and general $7,900 · fundraising $2,598

  • 14 · Information technology

    total $558,682 · program services $380,603 · management and general $134,014 · fundraising $44,065

  • 16 · Occupancy

    total $2,321,145 · program services $1,768,775 · management and general $506,339 · fundraising $46,031

  • 17 · Travel

    total $163,998 · program services $144,513 · management and general $10,493 · fundraising $8,992

  • 19 · Conferences, conventions and meetings

    total $18,664 · program services $16,447 · management and general $1,194 · fundraising $1,023

  • 20 · Interest

    total $319,649 · program services $217,761 · management and general $76,676 · fundraising $25,212

  • 22 · Depreciation, depletion and amortization

    total $1,970,811 · program services $1,849,931 · management and general $101,282 · fundraising $19,598

  • 23 · Insurance

    total $105,685 · program services $71,998 · management and general $25,351 · fundraising $8,336

  • 24a · Other expenses: Lab Expenses

    total $2,167,298 · program services $2,157,533 · management and general $5,859 · fundraising $3,906

  • 24b · Other expenses: Loss on Disposal of Equipment

    total $36,036 · program services $24,550 · management and general $8,644 · fundraising $2,842

  • 24c · Other expenses: Other Expenses

    total $13,732 · program services $9,355 · management and general $3,294 · fundraising $1,083

  • 24d · Other expenses: Bank Fees

    total $5,550 · program services $3,780 · management and general $1,332 · fundraising $438

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,425,366 · end of year $1,003,919

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $702,021 · end of year $544,200

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $212,987 · end of year $61,320

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

    $18,366,271

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

    $8,520,035

  • 10c · Land, buildings and equipment, net

    beginning of year $11,296,306 · end of year $9,846,236

  • 11 · Investments: publicly traded securities

    beginning of year $17,596,618 · end of year $22,449,339

  • 12 · Investments: other securities

    beginning of year $98,156,150 · end of year $98,789,840

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $18,873,856 · end of year $17,416,386

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,991,666 · end of year $2,121,525

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $915,189 · end of year $624,148

  • 20 · Tax-exempt bond liabilities

    beginning of year $0

  • 21 · Escrow or custodial account liability

    beginning 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 $7,286,454 · end of year $6,250,000

  • 25 · Other liabilities

    beginning of year $18,823,567 · end of year $17,687,622

  • 27 · Net assets without donor restrictions

    beginning of year $74,986,763 · end of year $72,025,032

  • 28 · Net assets with donor restrictions

    beginning of year $45,259,665 · end of year $51,402,913

Mission and programs · 2023

Mission

TO BECOME A LEADING INDEPENDENT RESEARCH INSTITUTE IN THE DISCOVERY AND DEVELOPMENT OF INNOVATIVE SOLUTIONS TO IMPROVE HUMAN HEALTH.

Activities or mission (Part I)

THE IBRI IS AN INDEPENDENT LIFE SCIENCES RESEARCH INSTITUTE FOCUSED ON ADDRESSING MAJOR UNDERSERVED AREAS OF PUBLIC HEALTH INCLUDING DIABETES, PEDIATRIC RARE DISEASES, AND ALZHEIMER'S DISEASE. THE IBRI FACILITATES THE GROWTH OF THE BIOMEDICAL COMMUNITY BY ATTRACTING TALENT AND INDUSTRY TO THE STATE AND AIDES IN THE COMMERCIALIZATION OF TECHNOLOGIES TO FOSTER FURTHER ECONOMIC DEVELOPMENT.

  • FOUNDED IN 2013, THE INDIANA BIOSCIENCES RESEARCH INSTITUTE'S (IBRI) SCIENTIFIC RESEARCH FOCUSES ON DISCOVERING INNOVATIVE SOLUTIONS FOR UNDERSERVED DISEASES, INCLUDING DIABETES, PEDIATRIC RARE DISEASES AND ALZHEIMER'S DISEASE.

    Expenses $12,889,385 · Revenue $1,313,427

As filed on the 2023 return.

Listed in Part VII

  • ALAN PALKOWITZ PhD

    PRESIDENT & CEO

    Total calculated
    $632,531
    From this org
    $490,544
    From related orgs
    $92,441
    Other
    $49,546
    Hours/week
    32 + 8 related

    Schedule J breakdown matched by us

    Base
    $490,425 + $42,441 related
    Bonus
    $0
    Other
    $119 + $50,000 related
    Deferred
    $19,800 + $5,355 related
    Nontaxable benefits
    $0 + $24,391 related
    Filer's total
    $510,344 + $122,187 related

  • Daniel F Evans Jr

    EXECUTIVE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Harrington

    Treasurer

    Total calculated
    $0
    Hours/week
    0.5

  • Aaron Schacht

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Cristopher Johnston

    DIRECTOR

    Total calculated
    $216,169
    From this org
    $0
    From related orgs
    $166,085
    Other
    $50,084
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,085 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $24,709 related
    Nontaxable benefits
    $0 + $25,375 related
    Filer's total
    $0 + $216,169 related

  • Daniel Golden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Daniel Peterson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • David Ingram MD

    DIRECTOR

    Total calculated
    $90,283
    From this org
    $0
    From related orgs
    $57,242
    Other
    $33,041
    Hours/week
    0.5 + 39.5 related

  • Debra Luffer-Atlas PhD

    Director (began 11/29/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Hany Moselhi MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jay Hess MD

    PhD MHSA, DIRECTOR

    Total calculated
    $1,442,874
    From this org
    $0
    From related orgs
    $1,055,714
    Other
    $387,160
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $606,607 related
    Bonus
    $0 + $230,547 related
    Other
    $0 + $218,560 related
    Deferred
    $0 + $362,378 related
    Nontaxable benefits
    $0 + $24,782 related
    Filer's total
    $0 + $1,442,874 related

  • Jeffrey Rhoads PhD

    Director (began 8/18/23)

    Total calculated
    $342,933
    From this org
    $0
    From related orgs
    $306,560
    Other
    $36,373
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $280,706 related
    Bonus
    $0
    Other
    $0 + $25,854 related
    Deferred
    $0 + $23,917 related
    Nontaxable benefits
    $0 + $12,456 related
    Filer's total
    $0 + $342,933 related

  • JOHN C LECHLEITER PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Karen Plaut

    Director (Began 4/17/23)

    Total calculated
    $471,591
    From this org
    $0
    From related orgs
    $403,107
    Other
    $68,484
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $364,475 related
    Bonus
    $0 + $35,000 related
    Other
    $0 + $3,632 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $35,484 related
    Filer's total
    $0 + $471,591 related

  • KENNETH CUSTER PhD

    DIRECTOR (partial year)

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Huber

    VP for University Relations

    Total calculated
    $529,543
    From this org
    $0
    From related orgs
    $457,967
    Other
    $71,576
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $442,346 related
    Bonus
    $0
    Other
    $0 + $15,621 related
    Deferred
    $0 + $45,563 related
    Nontaxable benefits
    $0 + $26,013 related
    Filer's total
    $0 + $529,543 related

  • Patricia Martin

    DIRECTOR

    Total calculated
    $270,279
    From this org
    $0
    From related orgs
    $235,056
    Other
    $35,223
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $100,534 related
    Bonus
    $0 + $38,250 related
    Other
    $0 + $96,272 related
    Deferred
    $0 + $23,683 related
    Nontaxable benefits
    $0 + $11,540 related
    Filer's total
    $0 + $270,279 related

  • TATIANA FOROUD PhD

    DIRECTOR

    Total calculated
    $624,814
    From this org
    $0
    From related orgs
    $571,561
    Other
    $53,253
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $241,476 related
    Bonus
    $0 + $94,085 related
    Other
    $0 + $236,000 related
    Deferred
    $0 + $39,904 related
    Nontaxable benefits
    $0 + $13,349 related
    Filer's total
    $0 + $624,814 related

  • THERESA MAYER PhD

    DIRECTOR (partial year)

    Total calculated
    $125,495
    From this org
    $0
    From related orgs
    $118,076
    Other
    $7,419
    Hours/week
    0.5 + 39.5 related

  • WENDY SRNIC PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JOHN (JAY) M MCGILL PhD

    CHIEF OPERATING OFFICER

    Total calculated
    $408,625
    From this org
    $375,771
    From related orgs
    $0
    Other
    $32,854
    Hours/week
    39.5 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $375,652
    Bonus
    $0
    Other
    $119
    Deferred
    $19,800
    Nontaxable benefits
    $13,054
    Filer's total
    $408,625

  • Michele J Sawyer

    CHIEF FINANCIAL OFFICER

    Total calculated
    $331,892
    From this org
    $313,626
    From related orgs
    $0
    Other
    $18,266
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $304,333
    Bonus
    $9,174
    Other
    $119
    Deferred
    $18,266
    Nontaxable benefits
    $0
    Filer's total
    $331,892

  • Brian Fillenwarth

    FINANCIAL CONTROLLER

    Total calculated
    $218,452
    From this org
    $181,341
    From related orgs
    $0
    Other
    $37,111
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,352
    Bonus
    $10,948
    Other
    $41
    Deferred
    $10,839
    Nontaxable benefits
    $26,272
    Filer's total
    $218,452

  • Mark Kowala PhD

    Vice president - Translational

    Total calculated
    $149,810
    From this org
    $142,094
    From related orgs
    $0
    Other
    $7,716
    Hours/week
    40

  • Mary M Mader

    VP MOLECULAR INNOVATION

    Total calculated
    $306,326
    From this org
    $274,941
    From related orgs
    $0
    Other
    $31,385
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $274,822
    Bonus
    $0
    Other
    $119
    Deferred
    $15,431
    Nontaxable benefits
    $15,954
    Filer's total
    $306,326

  • MUSTAPHA MOUSSAIF PhD

    SR STAFF SCIENTIST

    Total calculated
    $171,076
    From this org
    $140,907
    From related orgs
    $0
    Other
    $30,169
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,830
    Bonus
    $0
    Other
    $77
    Deferred
    $8,246
    Nontaxable benefits
    $21,923
    Filer's total
    $171,076

  • Sharon Elaine Semones

    Vice President - Business Development

    Total calculated
    $193,701
    From this org
    $163,872
    From related orgs
    $0
    Other
    $29,829
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,845
    Bonus
    $0
    Other
    $27
    Deferred
    $10,350
    Nontaxable benefits
    $19,479
    Filer's total
    $193,701

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349319284

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