2025-12-03T14:29:00-06:00 2025-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2024-07-01 813250208 INSTITUTE FOR PROTEIN INNOVATION INC INST 6173147970 4 BLACKFAN CIRCLE 921 BOSTON MA 02115 KENNETH FASMAN PHD PRESIDENT & CEO 6173147970 2025-11-21 1 1 THOMAS F MULDOON CPA P01561688 5083669100 2025-11-21 2024 2025-03-06 01:10:19Z X KENNETH FASMAN PHD 4 BLACKFAN CIRCLE 921 BOSTON MA 02115 74209892 0 X HTTPS://PROTEININNOVATION.ORG X 2016 MA TO ADVANCE PROTEIN SCIENCE TO ACCELERATE RESEARCH AND IMPROVE HUMAN HEALTH. 11 10 63 33 0 0 156071 500000 42841 97790 4449017 6883739 0 0 4647929 7481529 0 0 0 0 7647734 8553501 0 0 0 6954634 8983702 14602368 17537203 -9954439 -10055674 201899474 204496998 4285863 5373958 197613611 199123040 THE INSTITUTE FOR PROTEIN INNOVATION IS ADVANCING PROTEIN SCIENCE TO ACCELERATE RESEARCH AND IMPROVE HUMAN HEALTH. 0 0 12971110 97790 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. 12971110 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 41 0 1 63 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X RYAN TOFFEY 6173147970 4 BLACKFAN CIRCLE 921 BOSTON MA 02115 KENNETH FASMAN PRESIDENT & CEO/EX-OFFICIO 40.00 X X 698168 0 110878 SAMANTHA SINGER CHAIR 1.00 X X 0 0 0 MICHAEL O'HARA TREASURER 1.00 X X 0 0 0 DR TIMOTHY A SPRINGER CO-FOUNDER/DIRECTOR 1.00 X 0 0 0 DR STEVEN C ALMO DIRECTOR 1.00 X 0 0 0 DR MAYKIN HO DIRECTOR 1.00 X 0 0 0 DR AMIR NASHAT DIRECTOR 1.00 X 0 0 0 DR STEPHEN BLACKLOW DIRECTOR 1.00 X 0 0 0 ISRAEL ROZEN DIRECTOR 1.00 X 0 0 0 DR AURO NAIR DIRECTOR 1.00 X 0 0 0 DR RUSTY WILLIAMS DIRECTOR 1.00 X 0 0 0 DR JEFFREY FLIER DIRECTOR (UNTIL 12/24) 1.00 X 0 0 0 BETTINA STEVENS CFO (UNTIL 10/24) 40.00 X 248242 0 45959 ROB MEIJERS SENIOR DIRECTOR ANTIBODY PLATFORM 40.00 X 278006 0 52322 TRISHA GURA DIR. OF COMMUNICATIONS 40.00 X 239660 0 44295 ANDRE TEIXEIRA SR. DIR. OF ANTIBODY PLATFORM 40.00 X 238270 0 45072 DEBORAH MOSHINSKY DIRECTOR ANTIBODY CHARACTERIZATION 40.00 X 237606 0 42777 CURTIS WALTON DIRECTOR OF LABORATORY AUTOMATION 40.00 X 233334 0 44154 2173286 0 385457 19 0 1 0 NELSON MULLINS RILEY & SCARBOROUGH LLP PO BOX 11070 COLUMBIA SC 29211 LEGAL SERVICES 204918 DANFORTH ADVISORS LLC 300 FIFTH AVE PO BOX 335 WALTHAM MA 01772 ACCOUNTING SERVICES 154750 2 500000 500000 LICENSING REVENUE 541700 43598 43598 PROGRAMMATIC EVENT REVENUE 900099 31467 31467 ANTIBODY SALES 541700 22725 22725 97790 5766434 5766434 67845668 66719119 9244 1126549 -9244 1117305 1117305 7481529 97790 0 6883739 806940 806940 6140540 4758969 1381571 319960 259842 60118 855033 697539 157494 431028 315581 115447 40222 28242 11980 106751 106751 333190 333190 577229 119905 457324 7745 1750 5995 2686431 2027495 658936 1014472 1002141 12331 LAB MATERIALS & SERVICE 3847610 3628364 219246 OTHER 370052 131282 238770 17537203 12971110 4566093 0 455833 262232 1598098 2256250 18263 15194 678068 881861 10120694 4984354 3500502 5136340 188859805 185747029 3323493 5957988 3465412 4240104 201899474 204496998 697598 1056740 3588265 4317218 4285863 5373958 X 197613611 198863481 259559 197613611 199123040 201899474 204496998 -10055674 11565103 0 X X 0 1 X 1 0 X BOSTON CHILDREN'S HOSPITAL BOSTON MA PART 1, LINE 4: THE INSTITUTE IS A MEDICAL RESEARCH ORGANIZATION FOR ITS TAXABLE YEAR ENDED JUNE 30, 2025, AS ITS MEDICAL RESEARCH PROGRAM EXPENSES OF $12,971,110 FOR THAT YEAR EXCEEDED THE MRO REQUIREMENT OF $6,709,676 (3.5% OF ITS ENDOWMENT). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 355366 232579 122787 9765328 4751775 5013553 5136340 OPERATING LEASE OBLIGATION 4317218 4317218 X 18713442 11565103 11565103 7148339 333190 333190 7481529 17204013 0 17204013 333190 333190 17537203 PART X, LINE 2: THE INSTITUTE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE INSTITUTE HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2025. THE INSTITUTE'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. X X X X X 0 0 0 0 0 0 0 0 0 KENNETH FASMAN PRESIDENT & CEO/EX-OFFICIO 533793 0 164375 0 0 0 20700 0 90178 0 809046 0 0 0 ROB MEIJERS SENIOR DIRECTOR ANTIBODY PLATFORM 271339 0 6667 0 0 0 16414 0 35908 0 330328 0 0 0 BETTINA STEVENS CFO (UNTIL 10/24) 248242 0 0 0 0 0 13895 0 32064 0 294201 0 0 0 TRISHA GURA DIR. OF COMMUNICATIONS 239660 0 0 0 0 0 13340 0 30955 0 283955 0 0 0 ANDRE TEIXEIRA SR. DIR. OF ANTIBODY PLATFORM 238270 0 0 0 0 0 14296 0 30776 0 283342 0 0 0 DEBORAH MOSHINSKY DIRECTOR ANTIBODY CHARACTERIZATION 210606 0 27000 0 0 0 12087 0 30690 0 280383 0 0 0 CURTIS WALTON DIRECTOR OF LABORATORY AUTOMATION 233334 0 0 0 0 0 14016 0 30138 0 277488 0 0 0 FORM 990, PART I, LINE 6: THE INSTITUTE DOES NOT FORMALLY TRACK VOLUNTEERS BUT HAS INCLUDED THE NUMBER OF BOARD OF DIRECTORS AND SCIENTIFIC ADVISORY BOARD MEMBERS THAT ARE UNCOMPENSATED. FORM 990, PART VI, SECTION A, LINE 2 TIMOTHY SPRINGER AND AMIR NASHAT HAVE A BUSINESS RELATIONSHIP AS DEFINED BY THE IRS. AMIR NASHAT AND JEFFREY FLIER ALSO HAVE A BUSINESS RELATIONSHIP AS DEFINED BY THE IRS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE INSTITUTE'S INDEPENDENT EXTERNAL AUDIT FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. THE FINANCE DIRECTOR, CEO, AND CONTROLLER REVIEW THE DRAFT FORM 990 FOR ACCURACY. ONCE ANY CORRECTIONS AND REVISIONS ARE MADE, THE FORM IS THEN PROVIDED TO THE INSTITUTE'S LEGAL COUNSEL AND AUDIT AND FINANCE COMMITTEE OF THE BOARD OF DIRECTORS. THE AUDIT AND FINANCE COMMITTEE MEETS WITH THE EXTERNAL AUDIT FIRM TO REVIEW THE DRAFT. AFTER APPROVAL BY THE AUDIT AND FINANCE COMMITTEE, THE FORM 990 IS SUBMITTED TO EACH MEMBER OF THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE INSTITUTE HAS A CONFLICT OF INTEREST POLICY THAT APPLIES TO ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES. THE POLICY IS MONITORED BY THE INSTITUTE'S CONFLICT OF INTEREST COMMITTEE AND LEGAL COUNSEL. THE POLICY REQUIRES EACH DIRECTOR TO SUBMIT, ON AN ANNUAL BASIS, A COI DISCLOSURE OF ANY SITUATIONS THAT COULD GIVE RISE TO THE APPEARANCE OF A CONFLICT OF INTEREST FOR REVIEW BY LEGAL COUNSEL AND THE COI COMMITTEE. EACH DIRECTOR HAS A CONTINUING OBLIGATION, UNDER THE POLICY, TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST AT THE TIME THEY ARISE DURING THE COURSE OF THE YEAR TO THE COI COMMITTEE. ALL SUBMISSIONS ARE REVIEWED BY LEGAL COUNSEL AND THE COI COMMITTEE FOR A DETERMINATION AND APPROPRIATE ACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF EXECUTIVE OFFICER(S) AND KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS ARE INDEPENDENT OF EMPLOYMENT OF THE INSTITUTE AND ARE GUIDED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. THE COMPENSATION COMMITTEE, AS DESCRIBED IN THE COMMITTEE'S CHARTER, IS COMPRISED OF TWO OR MORE DIRECTORS AS PRESCRIBED BY THE BYLAWS, EACH OF WHOM IS INDEPENDENT AND FREE FROM ANY RELATIONSHIP THAT WOULD INTERFERE IN THEIR RESPONSIBILITIES AS A MEMBER OF THE COMPENSATION COMMITTEE. THE COMMITTEE REVIEWS, ON AN ANNUAL BASIS, THE CORPORATE GOALS AND OBJECTIVES RELEVANT TO THE COMPENSATION OF THE CEO AND EVALUATES THE CEO'S PERFORMANCE CONSIDERING THE GOALS AND OBJECTIVES. BASED ON THIS REVIEW AND EVALUATION, THE COMMITTEE THEN RECOMMENDS THE CEO'S COMPENSATION TO THE BOARD FOR APPROVAL. THE CEO MAKES RECOMMENDATIONS FOR KEY EMPLOYEE COMPENSATION FOR EMPLOYEES IN A DIRECT REPORTING RELATIONSHIP TO THE CEO WITH RESPECT TO: (A) SALARY; (B) BONUS OR OTHER INCENTIVE AWARDS; (C) SUPPLEMENTAL BENEFITS, INCLUDING RETIREMENT BENEFITS AND DEFERRED COMPENSATION; (D) EMPLOYMENT AGREEMENTS AND SEVERANCE ARRANGEMENTS; AND (E ) PREREQUISITES. THE COMMITTEE REVIEWS AND APPROVES THE CEO'S RECOMMENDATION AS WELL AS PROVIDES OVERSIGHT FOR THE PROCESS. AS PART OF THE ANNUAL BUDGET PROCESS, THE COMPENSATION COMMITTEE IN CONJUNCTION WITH THE AUDIT AND FINANCE COMMITTEE REVIEWS AND APPROVES ANNUAL PROPOSED COMPENSATION PLANS FOR THE COMING FISCAL YEAR FOR SALARY INCREASES AND EMPLOYEE BENEFIT PLAN TERMS. THE BOARD UTILIZES THE RADFORD COMPENSATION SURVEY DATA TO DETERMINE THE APPROPRIATE COMPENSATION RANGE FOR POSITIONS AND ENGAGES A COMPENSATION CONSULTANT WITH SPECIALIZED NONPROFIT PRACTICE EXPERTISE TO ASSIST THE COMMITTEE IN REVIEWING EXECUTIVE OFFICER AND KEY EMPLOYEE COMPENSATION, INCLUDING ANALYSIS OF COMPARABILITY DATA FOR THE BOARD'S REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE INSTITUTE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT PROCESS AND REVIEW OF THE FINANCIAL STATEMENTS.