Igem Foundation Inc

Nonprofit profile at a glance

EIN
452313408
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Cambridge, MA, USA
Phone
6172370037
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Reported finances

Revenue
$6,496,323
Expenses
$6,292,382
Assets
$1,716,033
Liabilities
$1,284,936

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • RANDALL RETTBERG (PRESIDENT (THRU 7/16/24)/DIRECTOR)
  • NAN ZHANG (EXECUTIVE VICE PRESIDENT (AS OF 10/27/24))
  • NEMANJA STIJEPOVIC (PRESIDENT & CEO (AS OF 7/17/24) (EVP/COO THRU 7/16/24))

Highest reported compensation

  • RANDALL RETTBERG (PRESIDENT (THRU 7/16/24)/DIRECTOR): $183,600 total reported compensation
  • NEMANJA STIJEPOVIC (PRESIDENT & CEO (AS OF 7/17/24) (EVP/COO THRU 7/16/24)): $121,442 total reported compensation
  • NAN ZHANG (EXECUTIVE VICE PRESIDENT (AS OF 10/27/24)): $98,120 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The international genetically engineered machine (igem) foundation is dedicated to education and competition, advancement of synthetic biology, and the development of open community and collaboration. The igem foundation fosters scientific research and education through organizing and operating the igem competition, the premier student synthetic biology competition. It also fosters scientific research and education by establishing and operating the registry of standard biological parts, a community collection of biological components. The organization promotes the advancement of science and education by developing an open community of students and practitioners in schools, laboratories, research institutes, and industry. The igem community has a long history of involving students and the public in the development of the new field of synthetic biology.

What it reported doing in 2024

Igem foundation fosters scientific research and education through the organization and operation of the igem competition, the world's premier student synthetic biology competition. In 2024, igem engaged more than 400 student teams and institutions globally and over 10,000 participants from 45 countries-the highest participation in its history. The annual igem grand jamboree is the culminating event of the competition, where teams present their work and compete for awards. It brought together 4300 students, researchers, and industry leaders, promoting global collaboration in science and engineering. Igem also operates the registry of standard biological parts, a community resource that now includes more than 74,000 contributions. Through its initiatives, igem promotes education, biosafety, responsible innovation, supporting the next generation of synthetic biology leaders in schools, laboratories, research institutes, and industry.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 45
  • Accountability: 76
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.2%; rating input score 81
  • Program expense ratio: 83.8%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 85.7%; rating input score 86; 17th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.1%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0.27; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 10.4% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 8% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 81.2% of revenue deployed · 83.8% of spending went to programs
  • Governance: 6 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $5.3M in reported program spending
  • Leadership: top reported pay $184K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, executive pay, and related organizations
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.