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Nonprofiteer
← QUANTUM LEAP HEALTH CARECOLLABORATIVE

Form 990 for tax year 2023

Filed by QUANTUM LEAP HEALTH CARECOLLABORATIVE.

Totals

Total revenue
$45,147,899
Total expenses
$47,759,442
Contributions and grants received
$1,389,552
Grants paid
$0
Program service revenue
$42,063,571
Investment income
$1,694,776
Other revenue
$0
Total assets, end of year
$58,201,960
Total liabilities, end of year
$29,374,723
Net assets or fund balances, end of year
$28,827,237
Program services expenses (Part IX)
$43,556,096
Management and general expenses
$3,742,383
Fundraising expenses
$460,963
Program service expenses (Part III)
$43,556,096

Program services were 91.2% 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.

  • 1f · All other contributions, gifts and grants

    $1,389,552

  • 1g · Noncash contributions included above

    $645,302

  • 2a · Program service revenue: CLINICAL TRIAL CONTRAC

    total $41,729,091 · related or exempt $41,729,091

  • 2b · Program service revenue: CONSULTING AND RESEARC

    total $334,480 · related or exempt $334,480

  • 3 · Investment income

    total $1,587,428 · excluded $1,587,428

  • 7a · Gross sales of assets other than inventory

    securities $54,861,046

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

    securities $54,753,698

  • 7c · Gain or loss

    securities $107,348

  • 7d · Net gain or loss

    total $107,348 · excluded $107,348

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,040,706 · program services $1,296,769 · management and general $743,937

  • 7 · Other salaries and wages

    total $13,879,772 · program services $12,279,197 · management and general $1,348,573 · fundraising $252,002

  • 8 · Pension plan contributions

    total $474,768 · program services $409,084 · management and general $58,029 · fundraising $7,655

  • 9 · Other employee benefits

    total $2,138,650 · program services $1,881,704 · management and general $219,626 · fundraising $37,320

  • 10 · Payroll taxes

    total $1,061,149 · program services $914,338 · management and general $129,701 · fundraising $17,110

  • 11b · Fees: legal

    total $109,511 · management and general $109,511

  • 11c · Fees: accounting

    total $268,183 · management and general $268,183

  • 11f · Fees: investment management

    total $20,144 · management and general $20,144

  • 11g · Fees: other

    total $2,190,326 · program services $2,006,920 · management and general $143,252 · fundraising $40,154

  • 12 · Advertising and promotion

    total $419,308 · program services $364,242 · management and general $47,778 · fundraising $7,288

  • 13 · Office expenses

    total $95,009 · program services $67,221 · management and general $25,979 · fundraising $1,809

  • 14 · Information technology

    total $3,232,348 · program services $2,855,727 · management and general $345,191 · fundraising $31,430

  • 16 · Occupancy

    total $355,935 · program services $290,389 · management and general $58,991 · fundraising $6,555

  • 17 · Travel

    total $255,671 · program services $243,849 · management and general $8,811 · fundraising $3,011

  • 19 · Conferences, conventions and meetings

    total $173,488 · program services $165,466 · management and general $5,979 · fundraising $2,043

  • 20 · Interest

    total $11,113 · program services $7,817 · management and general $3,083 · fundraising $213

  • 22 · Depreciation, depletion and amortization

    total $101,152 · program services $81,275 · management and general $17,965 · fundraising $1,912

  • 23 · Insurance

    total $86,553 · program services $73,363 · management and general $11,948 · fundraising $1,242

  • 24a · Other expenses: RESEARCH SITES

    total $10,491,281 · program services $10,440,533 · fundraising $50,748

  • 24b · Other expenses: PROGRAM MANAGEMENT

    total $7,977,931 · program services $7,977,931

  • 24c · Other expenses: RESEARCH

    total $2,186,878 · program services $2,182,990 · management and general $3,888

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $165,000 · management and general $165,000

  • 24e · All other expenses

    total $24,566 · program services $17,281 · management and general $6,814 · fundraising $471

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,269,894 · end of year $249,898

  • 2 · Savings and temporary cash investments

    beginning of year $4,943,974 · end of year $5,385,955

  • 3 · Pledges and grants receivable

    beginning of year $1,438,761 · end of year $279,603

  • 4 · Accounts receivable

    beginning of year $11,320,172 · end of year $8,639,920

  • 9 · Prepaid expenses and deferred charges

    beginning of year $636,230 · end of year $725,047

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

    $313,825

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

    $200,531

  • 10c · Land, buildings and equipment, net

    beginning of year $152,663 · end of year $113,294

  • 11 · Investments: publicly traded securities

    beginning of year $37,862,213 · end of year $42,672,001

  • 15 · Other assets

    beginning of year $290,041 · end of year $136,242

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,472,283 · end of year $12,880,683

  • 19 · Deferred revenue

    beginning of year $10,935,289 · end of year $15,030,847

  • 25 · Other liabilities

    beginning of year $1,463,193 · end of year $1,463,193

  • 27 · Net assets without donor restrictions

    beginning of year $29,720,498 · end of year $28,638,301

  • 28 · Net assets with donor restrictions

    beginning of year $322,685 · end of year $188,936

Mission and programs · 2023

Mission

THE MISSION OF QUANTUM LEAP HEALTHCARE COLLARBORATIVE IS TO PROVIDE MANAGEMENT AND FINANCIAL SUPPORT TO HEALTHCARE RESEARCH ORGANIZATIONS, PARTICULARLY INVOLVING BREAST CANCER RESEARCH AND TREATMENT.

Activities or mission (Part I)

THE MISSION OF QUANTUM LEAP HEALTHCARE COLLARBORATIVE IS TO PROVIDE (CONTINUED ON SCH. O)MANAGEMENT AND FINANCIAL SUPPORT TO HEALTHCARE RESEARCH ORGANIZATIONS, PARTICULARLY INVOLVING BREAST CANCER RESEARCH AND TREATMENT.

  • I-SPY TRIALS: QUANTUM LEAP SPONSORS THE I-SPY TRIALS (INVESTIGATION OF SERIAL STUDIES TO PREDICT YOUR THERAPEUTIC RESPONSE WITH IMAGING AND MOLECULAR ANALYSIS). I-SPY HAS BEEN RE-ENGINEERING THE APPROACH TO CLINICAL TRIALS, WITH A GOAL OF GETTING THE RIGHT DRUG TO THE RIGHT PATIENT AT THE TIME WHEN THEY WILL BENEFIT MOST, AND TO ACHIEVE THIS FASTER THAN POSSIBLE IN PREVIOUS TRIAL MODELS. ADDITIONALLY, I-SPY AIMS TO SIGNIFICANTLY REDUCE THE OVERALL COST, TIME, AND NUMBER OF PATIENTS REQUIRED TO BRING NEW DRUGS TO MARKET. THE I-SPY TRIAL PROGRAM INTEGRATES AND LINKS PHASE I (I-SPY PHASE 1), PHASE II (I-SPY 2), AND FUTURE PHASES TO BUILD A PIPELINE OF NOVEL AGENTS AND ACCELERATE THE PROCESS OF IDENTIFYING THE SUBSET OF HIGH-RISK BREAST CANCER PATIENTS THAT WILL BENEFIT FROM THESE NEW AGENTS, AND GET THESE DRUG INTO THE CLINIC IN A TIMELY MANNER.

    Expenses $36,213,899 · Revenue $40,785,731

  • THE COVID/ARDS STUDY TRIAL FOCUSED ON PATIENTS WHOSE REACTIONS TO THE VIRUS MAKE THEM CRITICALLY ILL AND, IN MANY CASES, RESULT IN DEATH. THE TRIAL'S PRIMARY FOCUS WAS TO IDENTIFY PROMISING DRUGS THAT EITHER NEUTRALIZE THE VIRUS, HELP HEAL THE LUNG DAMAGE FROM THE VIRUS (WHICH CAUSED ACUTE RESPIRATORY DISTRESS SYNDROME), OR CHANGE THE IMMUNE SYSTEM REACTION RESULTING IN ILLNESS. THE TRIAL OPENED IN JUNE 2020 AND WILL CONTINUE UNTIL A DRUG OR COMBINATIONS OF DRUGS ARE FOUND THAT PREVENT THE NECESSITY FOR VENTILATION TREATMENT AND ELIMINATE DEATH FROM THE DISEASE. IN FISCAL YEAR 2022, THE PROTOCOL WAS AMENDED TO EXPAND TO ALL ILLNESSES CONTRIBUTING TO ADULT RESPIRATORY DISTRESS SYNDROME, OR ARDS.

    Expenses $5,395,073 · Revenue $1,136,560

  • BREAST CANCER TRIALS (BCT) - LAUNCHED IN 2008, FOLLOWING A SUCCESSFUL UCSF-NCI SPONSORED RESEARCH PILOT, ITS MISSION IS TO MAKE PATIENT CONSIDERATION OF TRIALS THE NORM VS. THE EXCEPTION. WE BELIEVE THAT ALL PATIENTS SHOULD HAVE ACCESS TO THE LATEST MEDICAL KNOWLEDGE ABOUT BREAST CANCER TREATMENT AS WELL AS THE OPPORTUNITY TO ADVANCE BREAST CANCER RESEARCH. BCT LISTS OVER 600 STUDIES FOR PEOPLE WITH NEWLY DIAGNOSED BREAST CANCER, METASTATIC DISEASE, OR POST-TREATMENT SURVIVORS. IT INCLUDES INNOVATIVE TRIALS OF TARGETED AND IMMUNOTHERAPIES AS WELL AS OBSERVATIONAL STUDIES LOOKING AT QUALITY OF LIFE, GENETIC MUTATIONS, AND BREAST CANCER SURVIVORSHIP, ACCOMPANIED BY EASY-TO-READ TRIAL SUMMARIES.

    Expenses $1,330,659 · Revenue $60,300

  • Expenses $616,465 · Revenue $80,980

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dave Mandelkern Ms

    CHAIRMAN

    Total calculated
    $120,000
    From this org
    $120,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Laura Esserman

    DIRECTOR, COFOUNDER

    Total calculated
    $0
    Hours/week
    0.5

  • Jeffery Pfeffer PhD

    DIRECTOR, COFOUNDER

    Total calculated
    $0
    Hours/week
    0.5

  • Anna Barker PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lucas De Breed PhD MBA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Susan Foley CFA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Michele Markus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Patterson Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Robyn Lawrie Rutledge MBA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Gregory C Simon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Simon MBA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Nmarcus Thygeson Mdmph

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lambert Van Der Walde MBA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • James Palazzolo

    CEO

    Total calculated
    $634,544
    From this org
    $577,025
    From related orgs
    $0
    Other
    $57,519
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $547,025
    Bonus
    $30,000
    Other
    $0
    Deferred
    $18,022
    Nontaxable benefits
    $39,497
    Filer's total
    $634,544

  • Kathryn Watson-Feiner

    VICE PRESIDENT OF FINANCE

    Total calculated
    $450,730
    From this org
    $400,075
    From related orgs
    $0
    Other
    $50,655
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $400,075
    Bonus
    $0
    Other
    $0
    Deferred
    $11,091
    Nontaxable benefits
    $39,564
    Filer's total
    $450,730

  • Adam Asare

    CHIEF DATA OFFICER

    Total calculated
    $268,546
    From this org
    $255,707
    From related orgs
    $0
    Other
    $12,839
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,707
    Bonus
    $10,000
    Other
    $0
    Deferred
    $9,776
    Nontaxable benefits
    $3,063
    Filer's total
    $268,546

  • Imogene Mdunn

    VICE PRESIDENT STATISTICS

    Total calculated
    $372,207
    From this org
    $341,812
    From related orgs
    $0
    Other
    $30,395
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $331,812
    Bonus
    $10,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $30,395
    Filer's total
    $372,207

  • Radhika Sivaramakrishna

    SR. VP, CLINICAL OPERATIONS

    Total calculated
    $251,680
    From this org
    $220,140
    From related orgs
    $0
    Other
    $31,540
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,140
    Bonus
    $0
    Other
    $0
    Deferred
    $6,605
    Nontaxable benefits
    $24,935
    Filer's total
    $251,680

  • Karyn Digiorgio

    CHIEF COLLABORATION OFFICER

    Total calculated
    $331,065
    From this org
    $290,720
    From related orgs
    $0
    Other
    $40,345
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $280,720
    Bonus
    $10,000
    Other
    $0
    Deferred
    $11,223
    Nontaxable benefits
    $29,122
    Filer's total
    $331,065

  • Paul Henderson

    SR. DIRECTOR OF COLLABORATIONS

    Total calculated
    $283,321
    From this org
    $236,971
    From related orgs
    $0
    Other
    $46,350
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,971
    Bonus
    $0
    Other
    $0
    Deferred
    $5,560
    Nontaxable benefits
    $40,790
    Filer's total
    $283,321

  • Philip Beineke

    DIRECTOR OF BIOMETRICS, ONCOLOGY

    Total calculated
    $345,624
    From this org
    $293,318
    From related orgs
    $0
    Other
    $52,306
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $293,318
    Bonus
    $0
    Other
    $0
    Deferred
    $11,363
    Nontaxable benefits
    $40,943
    Filer's total
    $345,624

  • Sara Horton

    EXECUTIVE DIRECTOR, DIVERSITY

    Total calculated
    $299,343
    From this org
    $291,695
    From related orgs
    $0
    Other
    $7,648
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $291,695
    Bonus
    $0
    Other
    $0
    Deferred
    $5,350
    Nontaxable benefits
    $2,298
    Filer's total
    $299,343

  • Srikrishna Posa

    SR SOFTWARE ENGINEER (THRU 10/23)

    Total calculated
    $300,569
    From this org
    $291,431
    From related orgs
    $0
    Other
    $9,138
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $281,431
    Bonus
    $10,000
    Other
    $0
    Deferred
    $6,710
    Nontaxable benefits
    $2,428
    Filer's total
    $300,569

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
SRIKRISHNA POSA RECIEVED A SEVERANCE PAYMENT OF $62,790
PART I, LINE 7
DISCRETIONARY BONUSES ARE APPROVED BY THE BOARD OF DIRECTORS.

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202443179349303079

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