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Isthmus Project INC

Tax-deductible

Madison, WI501(c)(3)Medical ResearchEIN 83-2278676Revenue $15K in FY2025

On file with the IRSisthmusproject.com600 Highland Ave, 53792-0001 · Madison, WITax-exempt since Aug 2021Publicly supported charity — 170(b)(1)(A)(vi)

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The Corporation is organized and shall be operated exclusively to support the missions of the University of Wisconsin Hospitals and Clinics Authority, University of Wisconsin Medical Foundation, and the University of Wisconsin School of Medicine and Public Health by facilitating the development and translation of innovations and useful technology developed at UW Health and the University of Wisconsin, including in collaboration with other research institutions and partners, to improve health and healthcare by preventing and alleviating the effects of disease.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $581K a year · 588% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
15 mo
of spending, in cash
Looks good: 15.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$65K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 12 voting members
Worth a look: 4 of 12 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15K
-0.5% vs prior year
Spent
$722K
To programs
100%
Net assets
$3.7M
By yearFY2021–FY2025
Revenue
$15K
FY2025-0.5%
Tap a bar for its year
Revenue by fiscal year
FY2021$0
FY2022$75K
FY2023$389K
FY2024$15K
FY2025$15K
Expenses
$722K
FY2025▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2021$468K
FY2022$576K
FY2023$816K
FY2024$815K
FY2025$722K
Net assets
$3.7M
FY2025▲ +53%
Tap a bar for its year
Net assets by fiscal year
FY2021$155K
FY2022$654K
FY2023$2.2M
FY2024$2.4M
FY2025$3.7M

From the FY2025 Form 990 (year ending June 2025) · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $718K Management & general 0% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Elizabeth Hagerman PHD
President/Chief Innovation Officer
$0Pt VII · Sec A
$0Pt VII · Sec A
Scott Button
Director
$0Pt VII · Sec A
See Isthmus Project INC executive salaries →

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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 15aNo

Programs and updates

Develops and translates UW Health innovations to prevent and alleviate disease.

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Provided by the organization

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1 program · $718K · in their own filed words · FY2024
01

The Isthmus Project was founded with the intent to support Healthcare Innovation arising from our own ecosystem, including innovators from UW Health and UW School of Medicine and Public Health.

$718Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$15K
Ln 12
Fees for servicesLn 2g$15K
Money outPt IX
$722K
Ln 25
Programscol B$718K
Managementcol C$4K
Owns and owesPt X
$3.7M
net assets · Ln 32
Cash and savingsLn 1–2$918K
Total assetsLn 16$3.8M
LiabilitiesLn 26$65K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$15K
Total revenueLn 12$15K
Assets in detailPt X, end of year
CashLn 1$918K
Cash and savings togetherLn 1–2$918K
InvestmentsLn 11–13$2.9M
Land, buildings, equipmentLn 10c$10K
Other assetsLn 15$0
Total assetsLn 16$3.8M
LiabilitiesLn 26$65K
Net assetsLn 32$3.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderJune
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
LineStart FY25End FY25
Cash and savingsLn 1–2$618K$918K
InvestmentsLn 11–13$1.9M$2.9M
Land, buildings, equipmentLn 10c$16K$10K
Total assetsLn 16$2.5M$3.8M
LiabilitiesLn 26$84K$65K
Net assetsLn 32$2.4M$3.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$581K$581K
Pension plan contributionsLn 8$44K$44K
Other employee benefitsLn 9$30K$30K
Payroll taxesLn 10$32K$32K
Management feesLn 11a$9K$9K
Accounting feesLn 11c$4K$4K
Information technologyLn 14$3K$3K
TravelLn 17$5K$5K
Conferences, conventions and meetingsLn 19$4K$4K
Depreciation, depletion and amortizationLn 22$5K$5K
Other expenses (24a–d)Ln 24$5K$5K
All other expensesLn 24e$527$527
Total functional expensesLn 25$722K$718K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $15K$722K−$707K$3.7M 990 PDF
FY2024 $15K$815K−$800K$2.4M 990 PDF
FY2023 $389K$816K−$428K$2.2M 990 PDF
FY2022 $75K$576K−$501K$654K 990 PDF
FY2021 $0$468K−$468K$155K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $15,015 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $15,090$15,015
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $15,090$15,015
I-13 Grants and similar amounts paidPrior year $500$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $776,999$686,909
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $37,696$35,116
I-18 Total expensesPrior year $815,195$722,025
I-19 Revenue less expensesPrior year −$800,105−$707,010
Part VI · Governance 4 of 12 board members independent, 2 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $15,015 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $15,015$15,015
VIII-12 Total revenueRelated to mission $15,015 · Unrelated business $0 · Excluded from tax $0$15,015
Part IX · Statement of functional expenses $722,025 across 12 lines filed
IX-7 Other salaries and wagesPrograms $580,819$580,819
IX-8 Pension plan contributionsPrograms $44,028$44,028
IX-9 Other employee benefitsPrograms $30,462$30,462
IX-10 Payroll taxesPrograms $31,600$31,600
IX-11a Management feesPrograms $8,563$8,563
IX-11c Accounting feesManagement $3,539$3,539
IX-14 Information technologyPrograms $3,066$3,066
IX-17 TravelPrograms $5,392$5,392
IX-19 Conferences, conventions and meetingsPrograms $3,673$3,673
IX-22 Depreciation, depletion and amortizationPrograms $5,356$5,356
IX-24 Other expenses (24a–d)Programs $5,000$5,000
IX-24e All other expensesPrograms $527$527
IX-25 Total functional expensesPrograms $718,486 · Management $3,539 · Fundraising $0$722,025
Part X · Balance sheet $3,783,716 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $618,219$918,157
X-10c Land, buildings and equipment, netStart of year $15,781$10,425
X-13 Program-related investmentsStart of year $1,853,903$2,855,134
X-15 Other assetsStart of year $22,442$0
X-16 Total assetsStart of year $2,510,345$3,783,716
X-17 Accounts payable and accrued expensesStart of year $3,371$5,331
X-25 Other liabilitiesStart of year $80,901$59,322
X-26 Total liabilitiesStart of year $84,272$64,653
X-27 Net assets without donor restrictionsStart of year $2,426,073$3,719,063
X-32 Total net assets or fund balancesStart of year $2,426,073$3,719,063
X-33 Total liabilities and net assetsStart of year $2,510,345$3,783,716
Part XI · Reconciliation of net assets $3,719,063 net assets at year end
XI-1 Total revenue$15,015
XI-2 Total expenses$722,025
XI-3 Revenue less expenses−$707,010
XI-4 Net assets at start of year$2,426,073
XI-9 Other changes in net assets$2,000,000
XI-10 Net assets at end of year$3,719,063

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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