Joslin Technologies Llc

Nonprofit profile at a glance

EIN
364695829
IRS 990 coverage
2013–2016
Forms available
Form 990 2016, Form 990-N 2010
Location
Boston, MA, USA
Phone
6173092400
Rating confidence
Limited
Sector
Management & Technical Assistance

Official website

Reported finances

Revenue
$0
Expenses
$117,508
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • PETER AMENTA (CEO/PRESIDENT)
  • JOHN L BROOKS III (FORMER CEO/PRESIDENT)

Highest reported compensation

  • PETER AMENTA (CEO/PRESIDENT): $679,410 total reported compensation
  • JOHN L BROOKS III (FORMER CEO/PRESIDENT): $525,685 total reported compensation
  • GEORGE KING MD (DIRECTOR): $394,421 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Joslin technologies, llc ("the organization") was an intellectual property accelerator. Its sole function was to take significant intellectual property opportunities and develop them on behalf of its sole member, joslin diabetes center, inc. ("jdc").

What it reported doing in 2016

The organization was a company focused on creating novel products and services in diabetes and obesity management to address the growing need for better drug treatments, diagnostics and clinical care for patients.diabetes was recognized as a growing pandemic with twenty-five (25) million people in the united states suffering from the disease and about three hundred and fifty (350) million worldwide. This represented a significant medical research market for new drugs, diagnostic devices and information technology approaches for improved care and patient management.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 60
  • Accountability: 32
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 23rd 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: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 155.1%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -35% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -32.6% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -38% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 0 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $118K in reported program spending
  • Leadership: top reported pay $679K · 6 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $114K reported
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2013 to 2016
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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.

Key Signals

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

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.