Cortex: FY2021 Nonprofit Profile & Form 990 (EIN 30-0082817)

Sam Fiorello’s $509K as President & CEO is at the 78th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Sam Fiorello	$509,174	$456,500	$415,000	$415,000	$323,269
Mike Bozovich	$316,023	$271,103	$195,361	$170,481	$156,000
Natalie Self	$230,584	$210,977	$191,923	—	—
Margaret Crane	$201,670	$177,819	—	—	—
Dennis Lower	—	—	—	—	$194,264
Michael Sullivan	—	—	—	$189,479	$189,479
Brian Russell	$183,617	$174,125	$172,125	$106,731	—
Gabriela Ramirez-Arellano	$137,897	$129,542	$127,994	$101,115	—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes
Loans to or from officersSch L · Pt II1 listed

Programs and updates

Fosters bioscience and tech innovation, research, and commercialization, revitalizing urban areas.

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1 program · $6.5M · in their own filed words · FY2021

01

In addition to cortex's ACQUISITION/DEVELOPMENT of real estate and the promotion of development activities of the cortex innovation district, cortex serves as the manager of ST. Louis land company, L.L.C.

$6.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

St Louis Community Foundation IncorporatedFY2024$35K

Charities Aid Foundation AmericaFY2024$10K

Total grants receivedfrom 2 funders$45K

Grants paid · 13 grants · $2.2M · 2020–2023

Per Scholas INCNY · FY2023$1,206,735

The Launchcode FoundationMO · FY2023$475,000

CyberupMO · FY2023$150,000

Propel KitchensMO · FY2023$150,000

Npower INCNY · FY2023$110,290

Unitemized GrantFY2023$49,257

Tech StlMO · FY2023$37,500

The Global Institute on Innovation Districts INCNY · FY2023$16,667

International Institute of Metropolitan St LouisMO · FY2023$8,000

Park Central Development CorporationMO · FY2023$7,000

Missouri Botanical Garden Board of TrusteesMO · FY2023$6,300

Venture Cafe FoundationMO · FY2020$9,665

Venture for America INCMI · FY2020$7,000

By the numbers

The FY2021 990, line by line.

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1The main four

Money inPt VIII

$5.3M

Ln 12

Fees for servicesLn 2g$2.6M

Gifts and grantsLn 1h$2.6M

Other incomeLn 4–11$84K

Money outPt IX

$7.5M

Ln 25

Programscol B$6.5M

Managementcol C$833K

Fundraisingcol D$126K

Owns and owesPt X

$33.1M

net assets · Ln 32

Cash and savingsLn 1–2$1.4M

Total assetsLn 16$86.5M

LiabilitiesLn 26$53.5M

PeoplePt VI, VII

30

listed · VII A

PaidVII A7

Voting boardVI 1a26

IndependentVI 1b25

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.6M

Government grantsLn 1e$301K

Noncash giftsLn 1g$2.0M

Fees for servicesLn 2g$2.6M

Investment incomeLn 3$7K

Other incomeLn 4–11$84K

Total revenueLn 12$5.3M

Assets in detailPt X, end of year

CashLn 1$231K

SavingsLn 2$1.2M

Cash and savings togetherLn 1–2$1.4M

Land, buildings, equipmentLn 10c$47.3M

Other assetsLn 15$37.7M

Total assetsLn 16$86.5M

LiabilitiesLn 26$53.5M

Net assetsLn 32$33.1M

OperationsPt I, VI

EmployeesI 515

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$1.0M	$1.4M
Land, buildings, equipmentLn 10c	$47.2M	$47.3M
Total assetsLn 16	$85.9M	$86.5M
LiabilitiesLn 26	$50.4M	$53.5M
Net assetsLn 32	$35.4M	$33.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$1.0M	$850K	$193K
Other salaries and wagesLn 7	$431K	$333K	$2K	$96K
Pension plan contributionsLn 8	$116K	$93K	$15K	$8K
Other employee benefitsLn 9	$273K	$219K	$36K	$18K
Management feesLn 11a	$119K	$119K
Legal feesLn 11b	$100K	$50K	$50K
Accounting feesLn 11c	$41K	$21K	$21K
Other fees for servicesLn 11g	$545K	$497K	$48K
Advertising and promotionLn 12	$46K	$41K		$5K
Office expensesLn 13	$58K	$47K	$11K
Information technologyLn 14	$98K	$44K	$54K
OccupancyLn 16	$958K	$924K	$34K
TravelLn 17	$3K	$3K	$658
InterestLn 20	$991K	$991K
Depreciation, depletion and amortizationLn 22	$1.8M	$1.4M	$353K
InsuranceLn 23	$80K	$64K	$16K
Other expenses (24a–d)Ln 24	$800K	$800K
Total functional expensesLn 25	$7.5M	$6.5M	$833K	$126K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$12.3M	$12.8M	−$564K	$65.4M	990 PDF
FY2023	$17.2M	$10.4M	$6.8M	$65.9M	990 PDF
FY2022	$34.9M	$8.5M	$26.4M	$59.1M	990 PDF
FY2021 Viewing	$5.3M	$7.5M	−$2.2M	$33.1M	990 PDF
FY2020	$3.5M	$7.4M	−$4.0M	$35.4M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $5,279,863 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $451,309$2,580,960

I-9 Program service revenuePrior year $2,942,160$2,608,230

I-10 Investment incomePrior year $5,561$6,838

I-11 Other revenuePrior year $76,420$83,835

I-12 Total revenuePrior year $3,475,450$5,279,863

I-13 Grants and similar amounts paidPrior year $16,665$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $1,447,167$1,863,141

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $5,971,810$5,626,899

I-18 Total expensesPrior year $7,435,642$7,490,040

I-19 Revenue less expensesPrior year −$3,960,192−$2,210,177

Part VI · Governance 25 of 26 board members independent, 1 to look at

VI-1a Voting members of the governing body26

VI-1b Independent voting members25

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $5,279,863 across 8 lines filed

VIII-1e Government grants$300,805

VIII-1f All other contributions, gifts and grants$2,280,155

VIII-1g Noncash contributions (included above)$2,025,280

VIII-1h Total contributions, gifts and grants$2,580,960

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,608,230$2,608,230

VIII-3 Investment incomeExcluded from tax $6,838$6,838

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $83,835$83,835

VIII-12 Total revenueRelated to mission $2,692,065 · Unrelated business $0 · Excluded from tax $6,838$5,279,863

Part IX · Statement of functional expenses $7,490,040 across 17 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $850,236 · Management $192,704$1,042,940

IX-7 Other salaries and wagesPrograms $332,563 · Management $2,403 · Fundraising $96,228$431,194

IX-8 Pension plan contributionsPrograms $93,333 · Management $15,396 · Fundraising $7,593$116,322

IX-9 Other employee benefitsPrograms $218,794 · Management $36,091 · Fundraising $17,800$272,685

IX-11a Management feesPrograms $118,512$118,512

IX-11b Legal feesPrograms $50,238 · Management $50,238$100,476

IX-11c Accounting feesPrograms $20,737 · Management $20,737$41,474

IX-11g Other fees for servicesPrograms $496,973 · Management $47,671$544,644

IX-12 Advertising and promotionPrograms $41,045 · Fundraising $4,562$45,607

IX-13 Office expensesPrograms $46,908 · Management $10,781$57,689

IX-14 Information technologyPrograms $43,912 · Management $53,670$97,582

IX-16 OccupancyPrograms $924,108 · Management $33,678$957,786

IX-17 TravelPrograms $2,631 · Management $658$3,289

IX-20 InterestPrograms $990,503$990,503

IX-22 Depreciation, depletion and amortizationPrograms $1,436,971 · Management $353,220$1,790,191

IX-23 InsurancePrograms $63,708 · Management $15,927$79,635

IX-24 Other expenses (24a–d)Programs $799,511$799,511

IX-25 Total functional expensesPrograms $6,530,683 · Management $833,174 · Fundraising $126,183$7,490,040

Part X · Balance sheet $86,543,841 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $485,815$231,304

X-2 Savings and temporary cash investmentsStart of year $555,497$1,166,945

X-4 Accounts receivableStart of year $349,013$125,079

X-9 Prepaid expenses and deferred chargesStart of year $20,027$20,317

X-10c Land, buildings and equipment, netStart of year $47,162,542$47,255,795

X-15 Other assetsStart of year $37,176,979$37,744,401

X-16 Total assetsStart of year $85,853,341$86,543,841

X-17 Accounts payable and accrued expensesStart of year $675,635$201,548

X-25 Other liabilitiesStart of year $24,550,265$28,217,143

X-26 Total liabilitiesStart of year $50,408,877$53,458,795

X-27 Net assets without donor restrictionsStart of year $35,444,464$33,085,046

X-32 Total net assets or fund balancesStart of year $35,444,464$33,085,046

X-33 Total liabilities and net assetsStart of year $85,853,341$86,543,841

Part XI · Reconciliation of net assets $33,085,046 net assets at year end

XI-1 Total revenue$5,279,863

XI-2 Total expenses$7,490,040

XI-3 Revenue less expenses−$2,210,177

XI-4 Net assets at start of year$35,444,464

XI-9 Other changes in net assets−$149,241

XI-10 Net assets at end of year$33,085,046

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Cortex FY2021 filing

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