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Nonprofiteer
← PARKER INSTITUTE FOR CANCER IMMUNOTHERAPY

Form 990 for tax year 2024

Filed by PARKER INSTITUTE FOR CANCER IMMUNOTHERAPY.

Totals

Total revenue
$66,947,169
Total expenses
$54,471,034
Contributions and grants received
$44,804,456
Grants paid
$29,715,699
Program service revenue
$2,800,807
Investment income
$16,986,942
Other revenue
$2,354,964
Total assets, end of year
$223,870,654
Total liabilities, end of year
$38,432,216
Net assets or fund balances, end of year
$185,438,438
Program services expenses (Part IX)
$49,160,578
Management and general expenses
$5,093,570
Fundraising expenses
$216,886
Program service expenses (Part III)
$49,160,578

Program services were 90.3% 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.

  • 1f · All other contributions, gifts and grants

    $44,804,456

  • 2a · Program service revenue: CLINICAL TRIAL & RESEARCH SUPPORT

    total $1,900,057 · related or exempt $1,900,057

  • 2b · Program service revenue: LICENSE FEES

    total $900,750 · related or exempt $900,750

  • 3 · Investment income

    total $2,439,179 · excluded $2,439,179

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

    total $0

  • 5 · Royalties

    total $2,354,964 · excluded $2,354,964

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $15,296,677

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

    securities $748,914

  • 7c · Gain or loss

    securities $14,547,763

  • 7d · Net gain or loss

    total $14,547,763 · excluded $14,547,763

  • 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 $29,713,380 · program services $29,713,380

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $2,319 · program services $2,319

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $2,455,162 · program services $1,566,589 · management and general $888,573 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $6,430,856 · program services $4,776,855 · management and general $1,536,824 · fundraising $117,177

  • 8 · Pension plan contributions

    total $144,827 · program services $101,404 · management and general $40,889 · fundraising $2,534

  • 9 · Other employee benefits

    total $1,018,351 · program services $722,092 · management and general $274,307 · fundraising $21,952

  • 10 · Payroll taxes

    total $393,948 · program services $262,781 · management and general $125,727 · fundraising $5,440

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $3,758,353 · program services $3,388,069 · management and general $370,284 · fundraising $0

  • 11c · Fees: accounting

    total $379,687 · program services $0 · management and general $379,687 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $1,121,393 · program services $966,379 · management and general $122,114 · fundraising $32,900

  • 12 · Advertising and promotion

    total $43,970 · program services $186 · management and general $43,784 · fundraising $0

  • 13 · Office expenses

    total $109,166 · program services $40,117 · management and general $68,424 · fundraising $625

  • 14 · Information technology

    total $553,669 · program services $431,652 · management and general $107,937 · fundraising $14,080

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $1,552,760 · program services $978,239 · management and general $558,993 · fundraising $15,528

  • 17 · Travel

    total $691,437 · program services $609,121 · management and general $80,645 · fundraising $1,671

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $3,417,334 · program services $3,415,414 · management and general $1,864 · fundraising $56

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $173,581 · program services $9,815 · management and general $163,766 · fundraising $0

  • 24a · Other expenses: PATENT AND LICENSE EXPENSE

    total $1,401,350 · program services $1,401,350 · management and general $0 · fundraising $0

  • 24b · Other expenses: CLINICAL TRIAL SUPPORT

    total $571,499 · program services $571,499 · management and general $0 · fundraising $0

  • 24c · Other expenses: BIO BANKING

    total $90,130 · program services $90,130 · management and general $0 · fundraising $0

  • 24d · Other expenses: RECRUITING

    total $280,243 · program services $0 · management and general $280,243 · fundraising $0

  • 24e · All other expenses

    total $167,619 · program services $113,187 · management and general $49,509 · fundraising $4,923

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,286,878 · end of year $682,163

  • 2 · Savings and temporary cash investments

    beginning of year $65,585,234 · end of year $27,944,828

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $4,756,494 · end of year $2,356,768

  • 5 · Loans and receivables from officers and key people

    beginning of year $764,842 · end of year $713,816

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,651,610 · end of year $2,610,092

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

    $9,001,522

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

    $8,706,522

  • 10c · Land, buildings and equipment, net

    beginning of year $255,000 · end of year $295,000

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $23,331,587 · end of year $51,705,196

  • 13 · Investments: program-related

    beginning of year $151,742,635 · end of year $136,078,266

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $2,653,463 · end of year $1,484,525

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,199,228 · end of year $7,876,148

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $875,000 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $7,000,000 · 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 $37,739,542 · end of year $30,556,068

  • 27 · Net assets without donor restrictions

    beginning of year $194,119,787 · end of year $174,101,042

  • 28 · Net assets with donor restrictions

    beginning of year $8,094,186 · end of year $11,337,396

Mission and programs · 2024

Mission

THE PARKER INSTITUTE FOR CANCER IMMUNOTHERAPY'S (PICI) MISSION IS TO ACCELERATE THE DEVELOPMENT OF BREAKTHROUGH IMMUNE THERAPIES TO TURN ALL CANCERS INTO CURABLE DISEASES.

Activities or mission (Part I)

SEE SCHEDULE O

  • PARKER INSTITUTE FOR CANCER IMMUNOTHERAPY (PICI) ENCOURAGES ADVANCES IN CANCER IMMUNOTHERAPY RESEARCH, COLLABORATION, AND DISCOVERY, AND THE TRANSLATION OF THESE ADVANCES INTO CURES AND TREATMENTS FOR THE BENEFIT OF PATIENTS. TO DO THIS, PICI PARTNERS WITH ITS CONSORTIUM OF PREEMINENT HOSPITALS AND ACADEMIC RESEARCH CENTERS TO CONDUCT ITS DISCOVERY AND CLINICAL RESEARCH AND PROVIDES ITS PARTNERS WITH SHARED RESEARCH RESOURCES, SUCH AS SCIENTIFIC EQUIPMENT, CONSUMABLES, BIOINFORMATICS ANALYSIS, AND A SPECIMEN BIOBANK. PICI ALSO FUNDS AND OTHERWISE SUPPORTS CANCER IMMUNOTHERAPY RESEARCH WITHIN ITS CONSORTIUM.

    Expenses $49,160,578 · Grants $29,715,699 · Revenue $2,800,807

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John Connolly PhD

    CHIEF SCIENTIFIC OFFICER

    Total calculated
    $927,546
    From this org
    $855,710
    From related orgs
    $0
    Other
    $71,836
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $595,290
    Bonus
    $179,400
    Other
    $81,020
    Deferred
    $10,350
    Nontaxable benefits
    $61,486
    Filer's total
    $927,546

  • Kevin Marks

    CHIEF LEGAL OFFICER

    Total calculated
    $912,919
    From this org
    $840,863
    From related orgs
    $0
    Other
    $72,056
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $599,693
    Bonus
    $240,000
    Other
    $1,170
    Deferred
    $10,350
    Nontaxable benefits
    $61,706
    Filer's total
    $912,919

  • Ute Dugan MD

    CHIEF MED. OFFICER THRU 6/24

    Total calculated
    $820,319
    From this org
    $715,023
    From related orgs
    $0
    Other
    $105,296
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $350,030
    Bonus
    $184,770
    Other
    $180,223
    Deferred
    $10,350
    Nontaxable benefits
    $94,946
    Filer's total
    $820,319

  • Tarak Mody

    CHIEF BUSINESS OFFICER

    Total calculated
    $704,146
    From this org
    $632,310
    From related orgs
    $0
    Other
    $71,836
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $485,040
    Bonus
    $146,100
    Other
    $1,170
    Deferred
    $10,350
    Nontaxable benefits
    $61,486
    Filer's total
    $704,146

  • Shane Corcoran

    SENIOR VP, STRAT. OPS. & COMMS

    Total calculated
    $700,400
    From this org
    $669,429
    From related orgs
    $0
    Other
    $30,971
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $429,670
    Bonus
    $129,800
    Other
    $109,959
    Deferred
    $10,350
    Nontaxable benefits
    $20,621
    Filer's total
    $700,400

  • Sara Coblin

    SR VP FINANCE & ADMIN.

    Total calculated
    $614,697
    From this org
    $564,812
    From related orgs
    $0
    Other
    $49,885
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $433,842
    Bonus
    $129,800
    Other
    $1,170
    Deferred
    $10,350
    Nontaxable benefits
    $39,535
    Filer's total
    $614,697

  • Marko Spasic

    SR MEDICAL DIR, HEAD OF MED

    Total calculated
    $427,249
    From this org
    $418,090
    From related orgs
    $0
    Other
    $9,159
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $379,020
    Bonus
    $37,900
    Other
    $1,170
    Deferred
    $0
    Nontaxable benefits
    $9,159
    Filer's total
    $427,249

  • Christen Dipetrillo

    HEAD OF INTELLECTUAL PROPERTY

    Total calculated
    $426,351
    From this org
    $354,287
    From related orgs
    $0
    Other
    $72,064
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $321,017
    Bonus
    $32,100
    Other
    $1,170
    Deferred
    $10,350
    Nontaxable benefits
    $61,714
    Filer's total
    $426,351

  • Sean N Parker

    CHAIR OF THE BOARD & DIRECTOR

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Michael Polansky

    EXECUTIVE VP & DIRECTOR

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Tom Van Loben Sels

    TREASURER & DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey A Bluestone PhD

    VICE CHAIR & DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tony Coles MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eric Esrailian MD MPH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Gottlieb MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ben Horowitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Huber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bob Hugin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Reed Jobs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bob Nelsen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bruce Parker PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bob Pittman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ramy Ibrahim MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Margo Georgiadis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Dawson

    SECRETARY

    Total calculated
    $0
    Hours/week
    5 + 5 related

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 · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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 1A
ANYONE TRAVELING OVER 3000 MILES CAN FLY BUSINESS CLASS OR FIRST CLASS (IF ONLY 2 LEVELS OF SERVICE ARE OFFERED). VP'S CAN TRAVEL BUSINESS OR FIRST CLASS FOR TRAVEL OVER 2000 MILES.
PART I, LINE 3
THE CHIEF EXECUTIVE OFFICER POSITION WAS VACANT DURING 2024. THE ORGANIZATION FOLLOWS THE FOLLOWING PROCEDURES IN DETERMINING SUCH COMPENSATION: THE BOARD OF DIRECTORS OR EXECUTIVE COMMITTEE REVIEWS ANY PROPOSED COMPENSATION, INCLUDING THE SALARY, OF ITS CHIEF EXECUTIVE OFFICER TO ENSURE THAT, IN EACH CASE, SUCH SALARY IS FAIR AND REASONABLE BASED ON COMPARABILITY DATA AND COMPENSATION STUDIES SHOWING COMPENSATION PAID FOR COMPARABLE SERVICES AT SIMILARLY SITUATED ORGANIZATIONS.
PART I, LINE 4A
UTE DUGAN RECEIVED A SEVERANCE PAYMENT OF $179,638.
PART I, LINE 7
MOST OF PICI'S EMPLOYMENT AGREEMENTS, WHICH ARE NEGOTIATED AT ARMS-LENGTH WITH REFERENCE TO COMPARABILITY DATA, CONTAIN A PROVISION PERMITTING ANNUAL INCENTIVE BONUSES, WHICH ARE CAPPED AT UP TO A FIXED PERCENTAGE.

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.

  • MAVERIC LLC

    COVID-19 CLIN · CA · assets $0

    Directly controlled by PICI

Provenance

Return type
form_990
Tax year
2024
Filed
28 July 2025
IRS schema version
2024v5.2
Source object
202502129349301525

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