Institute for Protein Innovation Inc
Nonprofit profile at a glance
- EIN
- 813250208
- IRS 990 coverage
- 2016–2024
- Forms available
- Form 990 2024
- Location
- Boston, MA, USA
- Phone
- 6173147970
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Medical Research N.E.C.
Reported finances
- Revenue
- $7,481,529
- Expenses
- $17,537,203
- Assets
- $204,496,998
- Liabilities
- $5,373,958
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- KENNETH FASMAN (PRESIDENT & CEO/EX-OFFICIO)
Highest reported compensation
- KENNETH FASMAN (PRESIDENT & CEO/EX-OFFICIO): $809,046 total reported compensation
- ROB MEIJERS (SENIOR DIRECTOR ANTIBODY PLATFORM): $330,328 total reported compensation
- BETTINA STEVENS (CFO (UNTIL 10/24)): $294,201 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 institute for protein innovation is advancing protein science to accelerate research and improve human health.
What it reported doing in 2024
The institute provides academia and industry with synthetic antibodies and deep protein expertise in conjunction with boston children's hospital and other academic and industry partners. Since inception, the institute has produced and characterized thousands of synthetic recombinant antibodies against hundreds of protein targets via its high-throughput antibody discovery platform. The institute is collaborating with researchers in industry and academia to use these antibodies to accelerate research and enable research on new therapeutics that improve human health.
Operating model
- Revenue model
- Investment-supported. 91% of the money available for current operations came from recurring investment income.
- 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 80
- Transparency & Controls: 89
- Accountability: 95
- Sustainability: 38
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 74%; rating input score 74
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 90.9%; rating input score 91; 21st percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -134.4%; rating input score 0; 0th percentile among comparable filings
- Total-asset coverage ratio: 11.66; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 78; 78th percentile among comparable filings
- Officer compensation ratio: 14.6%; rating input score 19; 19th percentile among comparable filings
Growth
- Program expense growth: 19.1% per year; rating input score 100; 84th percentile among comparable filings
- Revenue growth: -2.1% per year; rating input score 0; 6th percentile among comparable filings
- Asset growth: 26.2% per year; rating input score 100; 90th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 74% of spending went to programs
- Governance: 10 of 11 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $13M in reported program spending
- Leadership: top reported pay $809K · 18 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $360K reported
- Consistency: 27 of 27 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 9 filing years from 2016 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Operating margin scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 19/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.