2026-09-17T13:49:33-05:00 2025-12-31 331756852 COHEN & CO ADVISORY LLC OFFICES LISTED AT WWWCOHENCOCOM OH 44115 990 2025-01-01 263085485 THE JACOBS INSTITUTE INC JACO 7168884805 875 ELLICOTT STREET FL5 BUFFALO NY 14203 TIMOTHY M KORN CHIEF FINANCIAL OFFICER 7162075195 2026-09-17 1 PARGAT SINGH P02184330 8002291099 2026-09-16 2025 TIMOTHY M KORN 875 ELLICOTT STREET FL5 BUFFALO NY 14203 13903778 0 X WWW.JACOBSINSTITUTE.ORG X 2008 NY TO ACCOMPLISH THE VISION OF MAKING WESTERN NEW YORK A CENTER FOR WORLD-CLASS EXCELLENCE IN RESEARCH, TEACHING, PUBLIC AWARENESS AND ADVANCES IN CLINICAL AND MINIMALLY-INVASIVE SURGICAL TREATMENT OF GLOBAL VASCULAR DISEASE. 9 7 45 11 0 0 2574121 3586440 9720944 10138341 63228 80107 92828 98890 12451121 13903778 0 0 0 0 4935885 5011856 0 0 107787 6710257 7131031 11646142 12142887 804979 1760891 7398323 10729462 3747232 5317481 3651091 5411981 X THE JACOBS INSTITUTE, INC., LOCATED IN BUFFALO, NEW YORK, WAS FORMED IN 2008 TO ACCOMPLISH THE VISION OF MAKING WESTERN NEW YORK A CENTER FOR WORLD-CLASS EXCELLENCE IN RESEARCH, TEACHING, PUBLIC AWARENESS AND ADVANCES IN CLINICAL AND MINIMALLY-INVASIVE SURGICAL TREATMENT OF GLOBAL VASCULAR DISEASE. 0 0 9472914 10138341 INVESTIGATION AND DUE DILIGENCE RELATED TO IMPLEMENTATION OF ALL ACTIVITIES ON SCHEDULE O. 9472914 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 0 0 0 0 1 1 0 0 0 1 97 0 45 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 7 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X TIMOTHY KORN 7163367067 875 ELLICOTT STREET FL5 BUFFALO NY 14203 JEREMY M JACOBS CHAIRMAN 0.50 X X 0 0 0 DONALD BOYD DIRECTOR 0.50 X 0 0 0 FRED KHOSRAVI DIRECTOR 0.50 X 0 0 0 GERALD S LIPPES DIRECTOR 0.50 X 0 0 0 JEREMY M JACOBS JR DIRECTOR 0.50 X 0 0 0 ROBERT HOPKINS DIRECTOR 0.50 X 0 0 0 ROBERT T BRADY DIRECTOR 0.50 X 0 0 0 SATISH K TRIPATHI PHD DIRECTOR 0.50 X 0 0 0 WILLIAM G GISEL JR DIRECTOR 0.50 X 0 0 0 ADNAN H SIDDIQUI MD CHIEF MEDICAL OFFICER & CEO 40.00 X 750000 0 0 CARLOS PENA CHIEF REGULATORY & QUALITY 40.00 X 376643 0 68301 TIMOTHY KORN CHIEF FINANCIAL OFFICER 40.00 X 214669 0 39050 DANIEL J ZIMMER TREASURER 3.00 X 0 0 0 MICHAEL MCCABE ESQ SECRETARY 0.50 X 0 0 0 THOMAS R BEECHER JR ASSISTANT SECRETARY 0.50 X 0 0 0 DANIEL RATHBONE STAFF ENGINEER 40.00 X 129254 0 39287 ADAM SPARKS DIRECTOR OF ENGINEERING 40.00 X 152861 0 45097 PAMELA MARCUCCI VP OF PROGRAMS 40.00 X 153607 0 16127 DANIEL LAWRENCE SENIOR PROGRAM MANAGER 40.00 X 133112 0 18890 KARI ANASTASIA DIRECTOR OF ENGINEERING 40.00 X 124651 0 23214 2034797 0 249966 15 0 1 0 LIPPES MATHIAS WEXLER FRIEDMAN LLP 50 FOUNTAIN PLAZA STE 1700 BUFFALO NY 14202 LEGAL FEES 239641 KEVIN F MACDONALD 229 MARVILLA CIRCLE PACIFICA CA 94044 CONSULTING SERVICES 129826 2 3586440 140697 3586440 REGULATORY SERVICE - STUDIES 900099 1779248 1779248 GOOD LABORATORY PRACTICES 900099 1511668 1511668 TRAINING AND MEDIA PRODUCTION SER 900099 1455681 1455681 CONFERENCE REVENUE 900099 1421784 1421784 PRODUCT DEVELOPMENT SERVICES 900099 1283142 1283142 2686818 2686818 10138341 80107 80107 OTHER INCOME 900099 98890 98890 98890 13903778 10237231 0 80107 X 1448663 490104 958559 2940490 2237952 629028 73510 337655 282712 41559 13384 285048 188627 90343 6078 233756 91802 141954 47475 47475 1280015 1185601 87399 7015 31572 31572 175018 71373 101883 1762 336624 145888 186829 3907 317342 278466 38876 287171 278685 8486 357225 315088 41680 457 493523 429185 64338 61449 61449 LAB EXPENSES 3333364 3330447 2917 0 BAD DEBT EXPENSE 99217 99217 0 0 OTHER EXPENSES 61145 47767 12146 1232 DUES & SUBSCRIPTIONS 9230 0 8788 442 6905 6905 12142887 9472914 2562186 107787 1993464 4313356 20000 748968 2067096 2127708 997304 1261573 8676571 6877880 1841293 1798691 479166 479166 7398323 10729462 1715086 2543675 595351 1533221 1436795 1240585 3747232 5317481 X 2057823 1774616 1593268 3637365 3651091 5411981 7398323 10729462 X 1760891 -1 X X 0 1 X 1 0 X 2211360 4031854 2149155 2574121 3586440 14552930 2211360 4031854 2149155 2574121 3586440 14552930 4800356 9752574 6129 63228 80107 149464 15687 239863 148519 92828 98890 595787 15298181 46576642 0.63750 0.75640 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 15,687. 2022 AMOUNT: $ 239,863. 2023 AMOUNT: $ 148,519. 2024 AMOUNT: $ 92,828. 2025 AMOUNT: $ 98,890. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8257505 6877880 1379625 419066 419066 1798691 OPERATING LEASE LIABILITY 1037903 CURRENT PORTION OF OPERATING LEASE LIABILITY 202682 1240585 X PART X, LINE 2: JI IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE IRC AND IS NOT CONSIDERED A PRIVATE FOUNDATION. ACCORDINGLY, THE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A LIABILITY OR PROVISION FOR INCOME TAXES. AS OF AND DURING THE YEARS ENDED DECEMBER 31, 2025 AND 2024, THE ORGANIZATION DID NOT HAVE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS. X 0 0 0 0 0 0 0 0 0 ADNAN H SIDDIQUI MD CHIEF MEDICAL OFFICER & CEO 750000 0 0 0 0 0 0 0 0 0 750000 0 0 0 CARLOS PENA CHIEF REGULATORY & QUALITY 376643 0 0 0 0 0 15802 0 52499 0 444944 0 0 0 TIMOTHY KORN CHIEF FINANCIAL OFFICER 214669 0 0 0 0 0 10733 0 28317 0 253719 0 0 0 ADAM SPARKS DIRECTOR OF ENGINEERING 152861 0 0 0 0 0 7643 0 37454 0 197958 0 0 0 PAMELA MARCUCCI VP OF PROGRAMS 153607 0 0 0 0 0 0 0 16127 0 169734 0 0 0 DANIEL RATHBONE STAFF ENGINEER 129254 0 0 0 0 0 6463 0 32824 0 168541 0 0 0 DANIEL LAWRENCE SENIOR PROGRAM MANAGER 133112 0 0 0 0 0 6656 0 12234 0 152002 0 0 0 KARI ANASTASIA DIRECTOR OF ENGINEERING 124651 0 0 0 0 0 6323 0 16891 0 147865 0 0 0 GERALD S LIPPES DIRECTOR 239641 LEGAL SERVICES 0 SATISH K TRIPATHI DIRECTOR 1250378 RENT AND OTHER SERVICES 0 SCH L, PART IV NAME OF PERSON: GERALD S. LIPPESDESCRIPTION OF TRANSACTION: JACOBS INSTITUTE PAID $239,641 IN LEGAL SERVICES DURING THE YEAR ENDED DECEMBER 31, 2025 TO AN ENTITY AFFILIATED WITH GERALD S. LIPPES.NAME OF PERSON: SATISH K. TRIPATHIDESCRIPTION OF TRANSACTION: THE JACOBS INSTITUTE ALSO PAID $1,250,378 FOR CONSULTING SERVICES, LAB SUPPLIES AND SERVICES, AND RESEARCH EXPENSES TO ENTITIES AFFILIATED WITH THE UNIVERSITY AT BUFFALO. SATISH K. TRIPATHI IS THE PRESIDENT OF THE UNIVERSITY AT BUFFALO. X 3050 140697 FAIR MARKET VALUE 0 0 0 FORM 990, PART III, LINE 4A BY CONDUCTING THE PROGRAM SERVICES LISTED BELOW, THE JACOBS INSTITUTE HOPES TO CREATE "COLLISIONS" OF IDEAS BETWEEN ACADEMICS, RESEARCHERS AND CLINICIANS TO PROMOTE CLINICAL CARE, ACADEMIC RESEARCH AND ENTREPRENEURIAL ("CARE") EXCELLENCE IN THE TREATMENT OF GLOBAL VASCULAR DISEASE AND RELATED NEUROLOGICAL DISEASES WITH THE ULTIMATE GOAL THAT THESE "COLLISIONS" WILL LEAD TO IMPROVED TREATMENT OF, AND NEW AND IMPROVED TECHNOLOGY AND INNOVATIONS RELATED TO, GLOBAL VASCULAR DISEASE AND RELATED NEUROLOGICAL DISEASES THAT MAY NOT OTHERWISE ATTRACT SUFFICIENT FUNDING IN WESTERN NEW YORK. RESEARCH/ADVANCEMENTS-PROVIDE STAFFING AND RESEARCH SUPPORT TO ACADEMICS, RESEARCHERS AND CLINICIANS AT: (1) THE STATE UNIVERSITY OF NEW YORK, UNIVERSITY AT BUFFALO ("UNIVERSITY AT BUFFALO"), A 501(C)(3) ORGANIZATION; (2) KALEIDA HEALTH (THE LARGEST HOSPITAL NETWORK IN WESTERN NEW YORK), A 501(C)(3) ORGANIZATION; AND (3) OTHER SIMILAR HEALTH-RELATED 501(C)(3) ORGANIZATIONS SELECTED BY THE MANAGEMENT OF THE JACOBS INSTITUTE; IN ORDER TO FACILITATE THE DEVELOPMENT BY SUCH ORGANIZATION OF: (A) ADVANCEMENTS IN THE TREATMENT OF GLOBAL VASCULAR DISEASE AND RELATED NEUROLOGICAL DISEASE; AND (B) CUTTING EDGE TECHNOLOGIES AND OTHER INFORMATION FOR THE IMPROVEMENT OF SUCH TREATMENT. TRAINING AND MEDIA PRODUCTION: ATTRACT, RECRUIT AND RETAIN WORLD CLASS CLINICAL RESEARCH AND ACADEMIC EXPERTS IN THE AREA OF GLOBAL VASCULAR AND NEUROLOGICAL DISEASES. THESE PROGRAMS PROVIDE ADVANCED CLINICAL PHYSICIAN TRAINING SHOWCASING ENDOVASCULAR SIMULATION, BIO SKILLS LABS, CADAVERIC SPECIMENS, ANIMAL MODELS, AND LIVE SURGICAL OBSERVATIONS. THESE FIRST-HAND EXPERIENTIAL TRAINING PROGRAMS ACCOMMODATE UP TO 30 PARTICIPANTS AND ARE BOTH ON-SITE AND VIRTUAL. ENGINEERING SERVICES (PRODUCT TESTING, GOOD LABORATORY PRACTICES AND MODEL DESIGN): OFFERS TURNKEY MEDICAL DEVICE DEVELOPMENT SOLUTIONS IN AREAS SUCH AS: PRE-CLINICAL DEVICE TESTING (CADAVERIC, SIMULATION, 3D PRINTED PATIENT-SPECIFIC CUSTOMIZABLE MODELS AND ANIMAL MODELS); PRELIMINARY USER NEEDS AND REQUIREMENT DEVELOPMENT AND VERIFICATION; COMPUTATIONAL RESEARCH, DESIGN AND DEVELOPMENT; AND FAILURE MODE EFFECTS ANALYSIS. PRODUCT DESIGN & PROTOTYPING - IN CONNECTION WITH THE JI'S IDEA TO REALITY CENTER (I2R), THIS DIVISION IS FOCUSED ON DEVELOPING NOVEL, SMART-ENGINEERED ENDOVASCULAR MEDICAL DEVICES AT A FASTER PACE AND IN A MORE COST-EFFECTIVE WAY, GETTING THEM TO PATIENTS SOONER. THE I2R CREATES DEVICES DESIGNED BY OR WITH THE PHYSICIANS WHO USE THEM. PHYSICIANS ARE ON-SITE AND AVAILABLE TO I2R ENGINEERS SO THAT OUR ENGINEERING TEAM CAN QUICKLY PROTOTYPE AND VALIDATE POTENTIAL DEVICES. OUR UNIQUE MEDICAL DEVICE DEVELOPMENT MODEL STREAMLINES THE PROOF-OF-CONCEPT PROCESS. CONFERENCES - ARE DEDICATED TO THE PRINCIPLE THAT HONEST OBJECTIVE ASSESSMENT OF FAILURES OF JUDGMENT, EQUIPMENT, AND TECHNIQUE CAN LEAD TO IMPROVED RESULTS IN MEDICAL TREATMENTS. THESE MEETINGS AND SEMINARS SEEK TO IMPROVE PATIENT CARE AND SAFETY, USING FAILURE ANALYSIS, ASSESSMENT OF PROCEDURAL SAFETY AND OTHER QUALITY ASSESSMENT TECHNIQUES. THESE FORUMS ALSO PROVIDE IN DEPTH DISCUSSION IN A PEER-REVIEW CONFIDENTIAL ENVIRONMENT. REGULATORY SERVICES - ADVISORY: ADVISORY SERVICES PROVIDE EXPERTISE IN: (1) STRATEGIC PLANNING AND BUSINESS DEVELOPMENT, (2) MOVING MEDICAL DEVICES TO THE U.S. MARKETPLACE, (3) HELPING DETERMINE THE APPROPRIATE PATHWAY FOR A DEVICE OR DRUG-DEVICE COMBINATION PRODUCT, AND (4) PREPARING FOR A U.S. FOOD AND DRUG ADMINISTRATION SUBMISSION. REGULATORY SERVICES - EARLY FEASIBILITY STUDIES: PROVIDES EXPERTISE ON INITIATING EARLY FEASIBILITY STUDIES IN THE U.S. AND HELP COMPANIES WITH REGULATORY REQUIREMENTS TO ACCELERATE IT ALONG THE PATHWAY TO MARKET, INCLUDING: (1) IDENTIFICATION OF THE RISKS INVOLVED IN BRINGING A MEDICAL DEVICE TO PATIENTS AND IDENTIFYING SOLUTIONS TO MITIGATE THE RISKS TO REGULATORY ENGAGEMENT, (2) EVALUATION OF STRATEGIES AND PROPOSED SUBMISSIONS, AND (3) DRAFTING A SUBSTANTIVE REVIEW OF SUBMISSIONS TO THE FDA. FORM 990, PART VI, SECTION A, LINE 2 BOARD OF DIRECTORS HAVE BUSINESS RELATIONSHIPS WITH EACH OTHER IN THE NORMAL COURSE OF BUSINESS. FORM 990, PART VI, SECTION B, LINE 11B DRAFT COPIES OF THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS ARE REVIEWED BY THE JACOBS INSTITUTE'S AUDIT AND COMPLIANCE COMMITTEE. FOLLOWING ITS FINALIZATION, THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS ARE DISTRIBUTED TO THE BOARD OF DIRECTORS. DRAFT COPIES OF THE 990 ARE REVIEWED PRIOR TO ITS FILING BY THE JACOBS INSTITUTE'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C PRIOR TO THE BOARD OF DIRECTORS ANNUAL MEETING, A MEMORANDUM FROM THE JACOBS INSTITUTE, WHICH INCLUDES THE CONFLICT OF INTEREST POLICY, ALONG WITH A QUESTIONNAIRE, IS DISTRIBUTED TO THE BOARD OF DIRECTORS TO BE FILLED OUT AND COLLECTED BY THE SECRETARY. THE POLICY AND QUESTIONNAIRE ARE ALSO DISTRIBUTED TO JACOBS INSTITUTE EMPLOYEES AT THE SAME TIME, TO BE RETURNED TO THE DIRECTOR OF PEOPLE & OPERATIONS. THE ANSWERS ARE COMPILED AND DISTRIBUTED TO THE BOARD OF DIRECTORS AT THE FOLLOWING BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF OFFICERS AND EMPLOYEES ARE REVIEWED BY INDEPENDENT PERSONS, AND FROM TIME TO TIME COMPARABILITY DATA IS USED TO HELP DETERMINE THE APPROPRIATENESS OF PROPOSED COMPENSATION LEVELS. TO DATE, THE PROCESS HAS INCLUDED DISCUSSIONS AMONG SENIOR MANAGEMENT (EXCLUDING ANYONE WITH A POTENTIAL CONFLICT OF INTEREST) FOLLOWED BY A DECISION TO SET COMPENSATION LEVELS. SALARY BENCHMARKING HAS ALSO BEEN USED IN CERTAIN CASES TO ESTABLISH OR SUBSTANTIATE APPROPRIATE SALARY LEVELS. FORM 990, PART VI, SECTION C, LINE 19 NO DOCUMENTS WERE MADE AVAILABLE TO THE PUBLIC DURING THE TAX YEAR. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 1,157,810. MANAGEMENT AND GENERAL EXPENSES 74,266. FUNDRAISING EXPENSES 5,825. TOTAL EXPENSES 1,237,901. PAYROLL PROCESSING FEES: PROGRAM SERVICE EXPENSES 27,791. MANAGEMENT AND GENERAL EXPENSES 13,133. FUNDRAISING EXPENSES 1,190. TOTAL EXPENSES 42,114. FORM 990, PART XI, LINE 9: ROUNDING ADJUSTMENT -1. FORM 990, PART XII, LINE 2C NO CHANGES TO THE PROCESS FROM PRIOR YEAR. JI ECONOMIC DEVELOPMENT INITIATIVES INC 875 ELLICOTT STREET FL5 BUFFALO NY 14203 863712817 IDEA TO REALITY INNOVATION AND INCUBATION PROGRAM NY THE JACOBS INSTITUTE INC C 1.00000 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 UNIVERSITY AT BUFFALO K 1250378 RENTAL AND OTHER SERVICES