2025-11-12T15:37:32-06:00 2024-12-31 320043599 LEGACY PROFESSIONALS LLP 4 WESTBROOK CORPORATE CTR STE 700 WESTCHESTER IL 60154 990 2024-01-01 364225980 ILLINOIS BIOTECHNOLOGY INNOVATION ORGANIZATION ILLI 3124221111 400 N ABERDEEN ST 900 CHICAGO IL 60642 JOHN CONRAD PRESIDENT & CEO 3124221111 2025-11-12 1 0 CHRISTINE V ERNST P01725863 3123680500 2025-11-12 2024 2025-03-06 01:10:19Z JOHN CONRAD 400 N ABERDEEN ST 900 CHICAGO IL 60642 701113 0 X WWW.IBIO.ORG X 1999 IL TO MAKE ILLINOIS AND SURROUNDING MIDWEST ONE OF THE WORLD'S TOP LIFE SCIENCE CENTERS. 25 25 0 0 0 0 0 0 543734 517000 0 0 204858 184113 748592 701113 0 0 0 0 368721 332298 0 0 0 326041 329209 694762 661507 53830 39606 709315 657697 506647 415423 202668 242274 X TO MAKE ILLINOIS AND THE SURROUNDING MIDWEST ONE OF THE WORLD'S TOP LIFE SCIENCES CENTERS, A GREAT PLACE TO DO BUSINESS, AND A GREAT PLACE TO GROW NEW TECHNOLOGY VENTURES. IBIO PROMOTES SOUND POLICY AT THE LOCAL, STATE, AND FEDERAL LEVELS; IMPROVES ITS REGION'S ABILITY TO CREATE, ATTRACT, AND RETAIN BUSINESSES; ORCHESTRATES INDUSTRY INVOLVEMENT TO HELP SOLVE AMERICA'S MATH AND SCIENCE EDUCATION CRISIS; AND CONTRIBUTES TO THE WELL-BEING OF PEOPLE WORLDWIDE BY CREATING NEW JOBS, WEALTH, AND PROSPERITY. 0 0 ADVOCACY - PROMOTES SOUND POLICY DEVELOPMENT AT THE LOCAL, STATE, AND FEDERAL LEVELS AND ANNUALLY HONORS ELECTED AND APPOINTED GOVERNMENT OFFICIALS WHO HAVE MADE VALUABLE CONTRIBUTIONS TO BIOTECHNOLOGY. MEMBERSHIP - BUILDS COMMUNITY BY PROVIDING OPPORTUNITIES TO CONNECT AND ENGAGE WITH THE BIOTECHNOLOGY INDUSTRY. EDUCATION - HOSTS A VARIETY OF EVENTS, INCLUDING SEMINARS, COURSES, AND ROUNDTABLES, THAT FOCUS ON EDUCATION, NETWORKING, INDUSTRY DEVELOPMENTS, AND BEST PRACTICES IN BIOTECHNOLOGY. PUBLICATIONS - PROVIDES BIOTECHNOLOGY NEWS AND UPDATES ON ITS WEBSITE AND PUBLISHES EDITORIALS, INFORMATION ON INDUSTRY DEVELOPMENTS, BEST PRACTICE ARTICLES, AND STORIES OF SUCCESS IN BIOTECHNOLGY THROUGH ITS BIOLOGICAL QUARTERLY MAGAZINE. 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 X 25 25 0 1 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X THE ORGANIZATION 3124221111 400 N ABERDEEN ST CHICAGO IL 60642 X STEVEN DUCOMMUN CORPORATE SECRETARY 0.50 0.50 X X 0 0 0 BLAIR KOMASINSKI TREASURER 0.50 0.50 X X 0 0 0 NORBERT RIEDEL PHD MEMBER AT LARGE 0.50 0.50 X X 0 0 0 JOHN BATHERY DIRECTOR 0.50 0.50 X 0 0 0 JEFF BERGAU DIRECTOR 0.50 0.50 X 0 0 0 DRUE DUNCAN DIRECTOR 0.50 0.50 X 0 0 0 MICHAEL FLAVIN DIRECTOR 0.50 0.50 X 0 0 0 DAVID FLOWERS DIRECTOR 0.50 0.50 X 0 0 0 PATRICK GATTARI DIRECTOR 0.50 0.50 X 0 0 0 ASHISH KHANNA DIRECTOR 0.50 0.50 X 0 0 0 DAN LYNE DIRECTOR 0.50 0.50 X 0 0 0 NANCY SULLIVAN DIRECTOR 0.50 0.50 X 0 0 0 TRES JOHNSON PAST DIRECTOR 0.50 0.50 X 0 0 0 HARRY ROWLAND DIRECTOR 0.50 0.50 X 0 0 0 RAHUL JERATH DIRECTOR 0.50 0.50 X 0 0 0 KENNETH JOHNSON DIRECTOR 0.50 0.50 X 0 0 0 ERIC MESSNER DIRECTOR 0.50 0.50 X 0 0 0 JIM SULLIVAN DIRECTOR 0.50 0.50 X 0 0 0 GEOFF CURTIS DIRECTOR 0.50 0.50 X 0 0 0 ABNER GARCIA-DELGADO DIRECTOR 0.50 0.50 X 0 0 0 HEIDI GILMORE DIRECTOR 0.50 0.50 X 0 0 0 JOE HRDLICKA DIRECTOR 0.50 0.50 X 0 0 0 KEVIN JOHNSON DIRECTOR 0.50 0.50 X 0 0 0 KHALED EL-CHEBLI NEW DIRECTOR 0.50 0.50 X 0 0 0 GERALD STOVAL NEW DIRECTOR 0.50 0.50 X 0 0 0 MARILYN VETTER VICE CHAIR HUMAN HEALTH 0.50 0.50 X 0 0 0 JOHN CONRAD PRESIDENT & CEO 20.00 20.00 X 0 0 0 ANN VOGEL SENIOR VP, EDUCATE 40.00 0.00 X 0 0 0 0 0 0 0 0 0 0 0 MEMBERSHIP DUES 900099 279352 279352 MEETINGS AND EDUCATION 900099 124492 124492 PROJECT SERVICE FEES 900099 70656 70656 LEGISLATIVE 900099 25000 25000 INDEX 900099 17500 17500 517000 PURCHASING PROGRAM 900099 182919 182919 MISCELLANEOUS 900099 1194 1194 184113 701113 517000 0 184113 288655 8660 13682 21301 22228 54000 60713 47994 36922 53246 32866 3162 BAD DEBT EXPENSE 11000 BOARD EXPENSES 3162 PROGRAM SERVICES:PITW R 2055 CONSULTANTS 1100 761 661507 272883 141718 430217 505268 3215 7711 3000 3000 709315 657697 44037 29984 77100 12000 385510 373439 506647 415423 X 202668 242274 202668 242274 709315 657697 39606 0 X 0 1 X 1 0 0 0 1 279352 68860 12486 81346 111741 -30395 0 DUE TO IBIO INSTITUTE 373439 373439 X PART X, LINE 2: IBIO IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AND THUS, IS GENERALLY NOT SUBJECT TO TAX. ALTHOUGH IBIO IS SUBJECT TO TAX ON ANY UNRELATED BUSINESS INCOME, NO PROVISION FOR INCOME TAXES WAS CONSIDERED NECESSARY FOR THE YEAR ENDED DECEMBER 31, 2024 AND 2023. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE IBIO TO EVALUATE TAX POSITIONS TAKEN BY IBIO AND RECOGNIZE A TAX LIABILITY IF IBIO HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITES. IBIO IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION CONTRACTS WITH AN UNRELATED HUMAN RESOURCES OUTSOURCING COMPANY TO PROVIDE STAFFING SOLUTIONS (I.E. LEASED EMPLOYEES) FOR THE ORGANIZATION'S OPERATIONS. THE OFFICERS AND EMPLOYEES ARE ISSUED FORM W-2'S BY THE HUMAN RESOURCES COMPANY. THE ORGANIZATION REIMBURSES THE HUMAN RESOURCES COMPANY FOR THE SALARIES, WAGES, BENEFITS, AND PAYROLL TAXES OF THE OFFICERS AND EMPLOYEES. THE STAFFING REIMBURSEMENT IS ALLOCATED ACCORDINGLY TO LINES 7,8,9,AND 10 OF PART IX OF FORM 990. THE FEES PAID TO THE HUMAN RESOURCES COMPANY ARE REPORTED ON LINE 11G OF PART IX OF FORM 990. IN ADDITION, THE TOTAL PAYMENTS MADE TO THE HUMAN RESOURCES COMPANY, INCLUDING REIMBURSEMENTS FOR SALARIES, WAGES, BENEFITS, AND PAYROLL TAXES OF THE OFFICERS AND EMPLOYEES, ARE REPORTED IN SECTION B. OF PART VII OF FORM 990. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE THOSE PERSONS WHO SUPPORT THE PURPOSES OF THE ORGANIZATION AND SATISFY THE CRITERIA FOR MEMBERSHIP. THE BOARD OF DIRECTORS ESTABLISHES CATEGORIES OF MEMBERSHIP AND DUES FOR EACH SUCH CATEGORY. MEMBERS HAVE NO VOTING AUTHORITY OR RIGHTS WITH RESPECT TO THE CONTROL, MANAGEMENT, OPERATION OR ACTIVITIES OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PRESENTED TO THE PRESIDENT & CEO OF THE ORGANIZATION WHO HAS BOARD GIVEN AUTHORITY TO ACT ON ALL FINANCIAL OPERATIONS OF THE ORGANIZATION. A COPY OF THE FORM 990 IS ALSO PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 12C THE PRINCIPAL OFFICER, DIRECTORS, AND COMMITTEE MEMBERS MUST ANNUALLY CERTIFY A CONFLICT OF INTEREST POLICY ACKNOWLEDGEMENT. IBIO HAS SPECIFIC PROCEDURAL SAFEGUARDS FOR RESOLVING POTENTIAL CONFLICTS OF INTEREST AND ADDRESSING ANY VIOLATIONS OF ITS CONFLICT OF INTEREST POLICY. IN ADDITION, IBIO CONDUCTS PERIODIC REVIEWS OF COMPENSATION ARRANGEMENTS FOR REASONABLENESS AND COMPLIANCE WITH CHARITABLE, TAX-EXEMPT RESTRICTIONS. FORM 990, PART VI, SECTION B, LINE 15A IN THE CASE OF THE PRESIDENT & CEO, THE BOARD'S EXECUTIVE COMMITTEE, ACTING ON BEHALF OF THE BOARD OF DIRECTORS ANNUALLY REVIEWS THE PROGRESS OF THE ORGANIZATION AND DETERMINES THE PRESIDENT'S COMPENSATION. THE PRESIDENT HAS BEEN GRANTED AUTHORITY BY THE BOARD TO DETERMINE THE COMPENSATION OF THE REMAINING EMPLOYEES OF THE ORGANIZATION. THE WAGES OF THE REMAINING EMPLOYEES ARE PROVIDED TO AND APPROVED BY THE BOARD OF DIRECTORS IN THE ANNUAL BUDGET. FORM 990, PART VI, SECTION C, LINE 19 FINANCIALS AND GOVERNING DOCUMENTS ARE AVAILABLE AT THE ORGANIZATION'S OFFICE. THE DOCUMENTS WILL BE MADE AVAILABLE UPON TIMELY NOTIFICATION OF INSPECTION.