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Nonprofiteer
← BROAD INSTITUTE INC

Form 990 for tax year 2022

Filed by BROAD INSTITUTE INC.

What the amendment changed

Compared with the return it replaced , filed 13 May 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$860,350,571
Total expenses
$730,483,898
Contributions and grants received
$694,260,151
Grants paid
$88,560,430
Program service revenue
$81,122,857
Investment income
$51,269,020
Other revenue
$33,698,543
Total assets, end of year
$2,674,332,180
Total liabilities, end of year
$636,686,371
Net assets or fund balances, end of year
$2,037,645,809
Program services expenses (Part IX)
$579,202,462
Management and general expenses
$147,918,791
Fundraising expenses
$3,362,645
Program service expenses (Part III)
$579,202,462

Program services were 79.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $59,877,532

  • 1e · Government grants (contributions)

    $206,015,361

  • 1f · All other contributions, gifts and grants

    $428,367,258

  • 1g · Noncash contributions included above

    $61,398,966

  • 2a · Program service revenue: RESEARCH

    total $77,088,729 · related or exempt $77,088,729

  • 2b · Program service revenue: USE OF FACILITIES

    total $1,030,860 · related or exempt $561,925 · unrelated business $468,935

  • 2c · Program service revenue: ADMIN FEES

    total $1,084,550 · related or exempt $1,084,550

  • 2d · Program service revenue: REBATES

    total $493,556 · related or exempt $493,556

  • 2e · Program service revenue: SYMPOSIUM SPONSORSHIP

    total $137,610 · related or exempt $137,610

  • 2f · All other program service revenue

    total $1,287,552 · related or exempt $1,287,552

  • 3 · Investment income

    total $26,742,059 · excluded $26,742,059

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $33,549,192 · excluded $33,549,192

  • 6a · Gross rents

    real property $223,667 · personal property $0

  • 6b · Less rental expenses

    real property $74,316 · personal property $0

  • 6c · Rental income or loss

    real property $149,351 · personal property $0

  • 6d · Net rental income or loss

    total $149,351 · excluded $149,351

  • 7a · Gross sales of assets other than inventory

    securities $41,536,897 · other assets $2,825,386

  • 7b · Less cost or other basis and sales expenses

    securities $17,281,500 · other assets $2,553,822

  • 7c · Gain or loss

    securities $24,255,397 · other assets $271,564

  • 7d · Net gain or loss

    total $24,526,961 · unrelated business -$693,148 · excluded $25,220,109

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $73,718,759 · program services $73,718,759

  • 2 · Grants to domestic individuals

    total $3,604,702 · program services $3,604,702

  • 3 · Grants to foreign organizations and individuals

    total $11,236,969 · program services $11,236,969

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $3,015,308 · program services $815,297 · management and general $2,136,258 · fundraising $63,753

  • 6 · Compensation of disqualified persons

    total $150,000 · fundraising $150,000

  • 7 · Other salaries and wages

    total $238,362,044 · program services $180,806,890 · management and general $55,982,129 · fundraising $1,573,025

  • 8 · Pension plan contributions

    total $20,428,163 · program services $14,353,858 · management and general $5,924,984 · fundraising $149,321

  • 9 · Other employee benefits

    total $32,203,083 · program services $22,627,511 · management and general $9,340,182 · fundraising $235,390

  • 10 · Payroll taxes

    total $16,814,042 · program services $11,814,394 · management and general $4,876,745 · fundraising $122,903

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $10,087,724 · program services $105,690 · management and general $9,923,885 · fundraising $58,149

  • 11c · Fees: accounting

    total $397,939 · management and general $397,939

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $9,111,612 · management and general $9,111,612

  • 11g · Fees: other

    total $36,497,262 · program services $18,783,023 · management and general $17,331,295 · fundraising $382,944

  • 12 · Advertising and promotion

    total $955,349 · program services $238,505 · management and general $659,302 · fundraising $57,542

  • 13 · Office expenses

    total $1,328,843 · program services $308,149 · management and general $1,019,827 · fundraising $867

  • 14 · Information technology

    total $56,701,832 · program services $43,783,470 · management and general $12,879,374 · fundraising $38,988

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $43,356,374 · program services $37,109,785 · management and general $6,079,419 · fundraising $167,170

  • 17 · Travel

    total $3,514,880 · program services $2,886,394 · management and general $609,871 · fundraising $18,615

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $8,810,507 · program services $3,846,623 · management and general $4,804,743 · fundraising $159,141

  • 20 · Interest

    total $15,242,683 · program services $12,866,453 · management and general $2,278,339 · fundraising $97,891

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $49,921,781 · program services $47,065,627 · management and general $2,770,027 · fundraising $86,127

  • 23 · Insurance

    total $2,393,727 · program services $302,137 · management and general $2,091,590

  • 24a · Other expenses: MATERIALS & SERVICES

    total $92,215,023 · program services $91,832,452 · management and general $381,752 · fundraising $819

  • 24b · Other expenses: MINOR EQUIPMENT & RENTALS

    total $246,322 · program services $236,995 · management and general $9,327 · fundraising $0

  • 24c · Other expenses: MAINTENANCE & REPAIRS

    total $947,157 · program services $684,836 · management and general $262,321 · fundraising $0

  • 24d · Other expenses: ADJUSTMENT TO AR RESERVE

    total -$778,187 · program services $173,943 · management and general -$952,130 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $52,984,596 · end of year $24,530,912

  • 2 · Savings and temporary cash investments

    beginning of year $829,996,404 · end of year $427,701,997

  • 3 · Pledges and grants receivable

    beginning of year $160,435,188 · end of year $178,720,921

  • 4 · Accounts receivable

    beginning of year $112,303,434 · end of year $97,779,586

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $768,419 · end of year $1,037,932

  • 8 · Inventories for sale or use

    beginning of year $46,332,364 · end of year $18,206,655

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,675,715 · end of year $29,388,134

  • 10a · Land, buildings and equipment: cost or other basis

    $813,433,056

  • 10b · Land, buildings and equipment: accumulated depreciation

    $349,310,251

  • 10c · Land, buildings and equipment, net

    beginning of year $436,866,550 · end of year $464,122,805

  • 11 · Investments: publicly traded securities

    beginning of year $384,884 · end of year $366,113,374

  • 12 · Investments: other securities

    beginning of year $961,737,522 · end of year $1,016,544,639

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $103,680,669 · end of year $50,185,225

  • 17 · Accounts payable and accrued expenses

    beginning of year $195,050,199 · end of year $143,038,328

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $116,340,044 · end of year $113,038,112

  • 20 · Tax-exempt bond liabilities

    beginning of year $251,452,556 · end of year $236,354,379

  • 21 · Escrow or custodial account liability

    beginning of year $10,467,173 · end of year $10,462,998

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $195,430,308 · end of year $133,792,554

  • 27 · Net assets without donor restrictions

    beginning of year $704,706,407 · end of year $718,446,984

  • 28 · Net assets with donor restrictions

    beginning of year $1,254,719,058 · end of year $1,319,198,825

Mission and programs · 2022

Mission

THE MISSION OF THE BROAD INSTITUTE IS TO PROPEL PROGRESS IN BIOMEDICINE, THROUGH RESEARCH AIMED AT THE UNDERSTANDING AND TREATMENT OF DISEASE AND THE DISSEMINATION OF SCIENTIFIC KNOWLEDGE TO THE SCIENTIFIC COMMUNITY TO BENEFIT THE PUBLIC.

Activities or mission (Part I)

SEE SCHEDULE O.

  • SEE SCHEDULE O.

    Expenses $579,202,462 · Grants $88,560,430 · Revenue $80,653,922

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • TODD GOLUB

    INSTITUTE DIRECTOR

    Total calculated
    $874,632
    From this org
    $817,744
    From related orgs
    $0
    Other
    $56,888
    Hours/week
    60 + 1 related

    Schedule J breakdown matched by us

    Base
    $796,815
    Bonus
    $0
    Other
    $20,929
    Deferred
    $27,450
    Nontaxable benefits
    $29,438
    Filer's total
    $874,632

  • STACEY GABRIEL

    CHIEF GENOMICS OFFICER

    Total calculated
    $725,324
    From this org
    $677,438
    From related orgs
    $0
    Other
    $47,886
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $521,355
    Bonus
    $133,084
    Other
    $22,999
    Deferred
    $27,450
    Nontaxable benefits
    $20,436
    Filer's total
    $725,324

  • JESSE SOUWEINE

    CHIEF OPERATING OFFICER

    Total calculated
    $668,565
    From this org
    $606,831
    From related orgs
    $0
    Other
    $61,734
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $534,552
    Bonus
    $50,000
    Other
    $22,279
    Deferred
    $27,450
    Nontaxable benefits
    $34,284
    Filer's total
    $668,565

  • MORGAN SHENG

    CORE INSTITUTE MEMBER

    Total calculated
    $649,127
    From this org
    $589,146
    From related orgs
    $0
    Other
    $59,981
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $330,343
    Bonus
    $9,381
    Other
    $249,422
    Deferred
    $27,450
    Nontaxable benefits
    $32,531
    Filer's total
    $649,127

  • DAN SHORE

    CFO/TREASURER

    Total calculated
    $499,299
    From this org
    $440,845
    From related orgs
    $0
    Other
    $58,454
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $438,346
    Bonus
    $0
    Other
    $2,499
    Deferred
    $27,450
    Nontaxable benefits
    $31,004
    Filer's total
    $499,299

  • HEATHER JANKINS

    SEE SCHEDULE O

    Total calculated
    $498,498
    From this org
    $440,373
    From related orgs
    $0
    Other
    $58,125
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $280,939
    Bonus
    $38,246
    Other
    $121,188
    Deferred
    $26,414
    Nontaxable benefits
    $31,711
    Filer's total
    $498,498

  • MICHAEL CHRISTIANO

    CHIEF BUSINESS OFFICER

    Total calculated
    $494,584
    From this org
    $437,068
    From related orgs
    $0
    Other
    $57,516
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $412,769
    Bonus
    $20,000
    Other
    $4,299
    Deferred
    $27,450
    Nontaxable benefits
    $30,066
    Filer's total
    $494,584

  • NIALL LENNON

    SR DIR TRANSLATIONAL GENOMICS

    Total calculated
    $491,504
    From this org
    $434,037
    From related orgs
    $0
    Other
    $57,467
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $312,090
    Bonus
    $100,000
    Other
    $21,947
    Deferred
    $27,450
    Nontaxable benefits
    $30,017
    Filer's total
    $491,504

  • SHEILA DODGE

    SR. DIRECTOR GP OPERATIONS

    Total calculated
    $486,369
    From this org
    $435,071
    From related orgs
    $0
    Other
    $51,298
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $322,390
    Bonus
    $100,942
    Other
    $11,739
    Deferred
    $27,450
    Nontaxable benefits
    $23,848
    Filer's total
    $486,369

  • WANDA CORDOVA

    SEE SCHEDULE O

    Total calculated
    $317,056
    From this org
    $285,403
    From related orgs
    $0
    Other
    $31,653
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $248,985
    Bonus
    $15,000
    Other
    $21,418
    Deferred
    $24,842
    Nontaxable benefits
    $6,811
    Filer's total
    $317,056

  • CORRINA L HALE

    SR. COUNSEL/CLERK (BEG 10/22)

    Total calculated
    $276,104
    From this org
    $233,042
    From related orgs
    $0
    Other
    $43,062
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $231,923
    Bonus
    $0
    Other
    $1,119
    Deferred
    $21,501
    Nontaxable benefits
    $21,561
    Filer's total
    $276,104

  • LAURIE PESSAH

    BOD ADMIN/ASSISTANT CLERK

    Total calculated
    $208,520
    From this org
    $162,681
    From related orgs
    $0
    Other
    $45,839
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $154,174
    Bonus
    $7,500
    Other
    $1,007
    Deferred
    $14,692
    Nontaxable benefits
    $31,147
    Filer's total
    $208,520

  • JUSTINE LEVIN-ALLERHAND

    SEE SCHEDULE O

    Total calculated
    $150,000
    From this org
    $150,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $150,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $150,000

  • ERIC E SCHMIDT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID BALTIMORE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GEORGE Q DALEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM HELMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SETH KLARMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ARTHUR LEVINSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARK NUNNELLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • L RAFAEL REIF

    DIRECTOR (UNT 12/22)

    Total calculated
    $0
    Hours/week
    1

  • PHILLIP SHARP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHIRLEY TILGHMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GERUN RILEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LAWRENCE BACOW

    DIRECTOR (UNT 6/23)

    Total calculated
    $0
    Hours/week
    1

  • JAMES MANYIKA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARGARET HAMBURG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RMARTIN CHAVEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RAVI THADHANI

    DIRECTOR (UNT 10/22)

    Total calculated
    $0
    Hours/week
    1

  • LAURIE GLIMCHER

    DIRECTOR (BEG 5/23)

    Total calculated
    $0
    Hours/week
    1

  • SALLY KORNBLUTH

    DIRECTOR (BEG 1/23)

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Tax indemnification and gross-up payments
  • 1a · Housing allowance or residence for personal use
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 8 · Paid under the initial-contract exception
  • 9 · Followed the rebuttable-presumption procedure

Answered no

  • 1b · Written policy on the line-1a expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments

The filer's explanations (Part III)

PROVISION OF BENEFITS
FORM 990, SCHEDULE J, LINE 1A AS AN ELEMENT OF HIS COMPENSATION ARRANGEMENT, A CORE INSTITUTE MEMBER RECEIVED A HOUSING ALLOWANCE DURING THE CALENDAR YEAR ENDED DECEMBER 31, 2022. THE CORE INSTITUTE MEMBER RECEIVED GROSS-UP PAYMENTS ON CERTAIN AMOUNTS FOR TAX PURPOSES. HOUSING AND TAX GROSS UP PAYMENTS ARE REFLECTED IN THE "OTHER REPORTABLE COMPENSATION" AMOUNT ON SCHEDULE J, PART II, COLUMN B (III) AND ARE CONSIDERED TAXABLE COMPENSATION TO THE INDIVIDUAL. THESE BENEFITS WERE REVIEWED AND APPROVED BY APPOINTED LEADERSHIP WITHIN THE INSTITUTE. FORM 990, SCHEDULE J, LINE 8 AND 9 THE SENIOR COUNSEL/CLERK ENTERED INTO A CONTRACT DURING CALENDAR YEAR 2022 THAT WAS SUBJECT TO THE INITIAL CONTRACT EXCEPTION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BROAD CLINICAL LABS LLC

    DX TEST SVC · MA · income -$206,774,620 · assets $183,641,499

    Directly controlled by BROAD INST

  • GENOME BRIDGE LLC

    COMBINE DATA · MA · income $0 · assets $0

    Directly controlled by BROAD INST

Provenance

Return type
form_990
Tax year
2022
Filed
1 October 2024
IRS schema version
2022v5.0
Source object
202442819349302204

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