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← GRADUATE SCHOOL OF THE STOWERS INSTITUTE FOR MEDICAL RESEARCH

Form 990 for tax year 2024

Filed by GRADUATE SCHOOL OF THE STOWERS INSTITUTE FOR MEDICAL RESEARCH.

Totals

Total revenue
$3,033,661
Total expenses
$2,767,616
Contributions and grants received
$28,770
Grants paid
$0
Program service revenue
$2,805,150
Investment income
$198,488
Other revenue
$1,253
Total assets, end of year
$6,483,799
Total liabilities, end of year
$227,040
Net assets or fund balances, end of year
$6,256,759
Program services expenses (Part IX)
$1,705,560
Management and general expenses
$1,062,056
Fundraising expenses
$0
Program service expenses (Part III)
$1,705,560

Program services were 61.6% 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

    $28,770

  • 1g · Noncash contributions included above

    $27,770

  • 2a · Program service revenue: PER CAPITA APPROPRIATION FROM SIMR

    total $2,595,150 · related or exempt $2,595,150

  • 2b · Program service revenue: SUPPLEMENTAL APPROPRIATION FROM SIMR

    total $210,000 · related or exempt $210,000

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $198,399 · excluded $198,399

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $3,170,283

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

    securities $3,170,194

  • 7c · Gain or loss

    securities $89 · other assets $0

  • 7d · Net gain or loss

    total $89 · excluded $89

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $1,253 · excluded $1,253

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,253

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $209,415 · program services $0 · management and general $209,415 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $1,544,492 · program services $1,043,305 · management and general $501,187 · fundraising $0

  • 8 · Pension plan contributions

    total $80,162 · program services $0 · management and general $80,162 · fundraising $0

  • 9 · Other employee benefits

    total $304,185 · program services $207,370 · management and general $96,815 · fundraising $0

  • 10 · Payroll taxes

    total $62,135 · program services $21,977 · management and general $40,158 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $64,752 · program services $0 · management and general $64,752 · fundraising $0

  • 11c · Fees: accounting

    total $11,655 · program services $0 · management and general $11,655 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $45,777 · program services $26,763 · management and general $19,014 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $8,091 · program services $2,007 · management and general $6,084 · fundraising $0

  • 14 · Information technology

    total $79,670 · program services $79,670 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $204,302 · program services $186,815 · management and general $17,487 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $119,113 · program services $111,876 · management and general $7,237 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: SUPPLIES & EQUIPMENT

    total $19,496 · program services $18,650 · management and general $846 · fundraising $0

  • 24b · Other expenses: DUES, SUBSCRIPTIONS, & REGISTRATIONS

    total $9,328 · program services $2,275 · management and general $7,053 · fundraising $0

  • 24e · All other expenses

    total $5,043 · program services $4,852 · management and general $191 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $52,925 · end of year $87,231

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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 $126 · end of year $6,266

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,196 · end of year $5,240

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $6,034,176 · end of year $6,307,461

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0

  • 15 · Other assets

    beginning of year $13,498 · end of year $77,601

  • 17 · Accounts payable and accrued expenses

    beginning of year $255,487 · end of year $227,040

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · 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 $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 $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $5,574,800 · end of year $6,133,211

  • 28 · Net assets with donor restrictions

    beginning of year $275,634 · end of year $123,548

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

THE GRADUATE SCHOOL OF THE STOWERS INSTITUTE FOR MEDICAL RESEARCH ("GSSIMR") EXEMPT PURPOSE IS TO PROVIDE GRADUATE EDUCATION THAT WILL PREPARE SCHOLARS FOR SCIENTIFIC RESEARCH IN THE BIOLOGICAL SCIENCES.

  • SEE SCHEDULE O

    Expenses $1,252,195 · Revenue $2,602,150

  • SEE SCHEDULE O

    Expenses $182,217 · Revenue $70,000

  • SEE SCHEDULE O

    Expenses $176,426

  • SEE SCHEDULE O

    Expenses $94,722 · Revenue $133,000

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

Listed in Part VII

  • Caroline Kane

    DIRECTOR & CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Matthew C Gibson

    DIRECTOR & PRESIDENT BEGINNING 7/1/24

    Total calculated
    $645,518
    From this org
    $0
    From related orgs
    $407,200
    Other
    $238,318
    Hours/week
    8 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $385,417 related
    Bonus
    $0
    Other
    $0 + $21,783 related
    Deferred
    $0 + $203,265 related
    Nontaxable benefits
    $0 + $35,053 related
    Filer's total
    $0 + $645,518 related

  • Alejandro Snchez Alvarado

    DIRECTOR

    Total calculated
    $1,934,730
    From this org
    $0
    From related orgs
    $1,094,951
    Other
    $839,779
    Hours/week
    2 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,041,927 related
    Bonus
    $0
    Other
    $0 + $53,024 related
    Deferred
    $0 + $771,447 related
    Nontaxable benefits
    $0 + $68,332 related
    Filer's total
    $0 + $1,934,730 related

  • Antonio Giraldez

    DIRECTOR BEGINNING 4/22/25

    Total calculated
    $0
    Hours/week
    2

  • Kristine Callis-Duehl

    DIRECTOR BEGINNING 4/22/25

    Total calculated
    $0
    Hours/week
    2

  • Lois Nora

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Nipam Patel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Hayley Hanson

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Jennifer Gerton

    CHIEF ACADEMIC OFFICER/DEAN BEGINNING 7/1/24

    Total calculated
    $484,848
    From this org
    $0
    From related orgs
    $396,972
    Other
    $87,876
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $342,650 related
    Bonus
    $0
    Other
    $0 + $54,322 related
    Deferred
    $0 + $51,750 related
    Nontaxable benefits
    $0 + $36,126 related
    Filer's total
    $0 + $484,848 related

  • Katy Graham

    TREASURER & CFO BEGINNING 5/28/25

    Total calculated
    $225,120
    From this org
    $0
    From related orgs
    $183,354
    Other
    $41,766
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $182,778 related
    Bonus
    $0
    Other
    $0 + $576 related
    Deferred
    $0 + $27,692 related
    Nontaxable benefits
    $0 + $14,074 related
    Filer's total
    $0 + $225,120 related

  • Penny M Spence

    CFO/TREASURER THRU 4/8/25

    Total calculated
    $833,432
    From this org
    $0
    From related orgs
    $753,782
    Other
    $79,650
    Hours/week
    2 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $752,972 related
    Bonus
    $0
    Other
    $0 + $810 related
    Deferred
    $0 + $51,750 related
    Nontaxable benefits
    $0 + $27,900 related
    Filer's total
    $0 + $833,432 related

  • Susan Weigel

    ASSOCIATE DEAN FOR ADMIN

    Total calculated
    $174,358
    From this org
    $130,725
    From related orgs
    $0
    Other
    $43,633
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,592
    Bonus
    $0
    Other
    $1,133
    Deferred
    $20,170
    Nontaxable benefits
    $23,463
    Filer's total
    $174,358

  • George L Satterlee

    FORMER OFFICER

    Total calculated
    $603,617
    From this org
    $0
    From related orgs
    $518,670
    Other
    $84,947
    Hours/week
    0 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $515,106 related
    Bonus
    $0
    Other
    $0 + $3,564 related
    Deferred
    $0 + $51,750 related
    Nontaxable benefits
    $0 + $33,197 related
    Filer's total
    $0 + $603,617 related

  • R Scott Hawley

    FORMER VP & DEAN DECEASED 1/31/25

    Total calculated
    $437,541
    From this org
    $0
    From related orgs
    $360,706
    Other
    $76,835
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $355,762 related
    Bonus
    $0
    Other
    $0 + $4,944 related
    Deferred
    $0 + $51,750 related
    Nontaxable benefits
    $0 + $25,085 related
    Filer's total
    $0 + $437,541 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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4b SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
THE FOLLOWING PERSONS WITH RESPECT TO A RELATED ORGANZATION, STOWERS INSTITUTE FOR MEDICAL RESEARCH (SIMR), PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. ALEJANDRO SANCHEZ ALVARADO - ACCRUAL OF $719,697 AND $0 DISTRIBUTION. MATTHEW C. GIBSON - ACCRUAL OF $151,515 AND $0 DISTRIBUTION.
Schedule J, Part II EXPLANATION OF COMPENSATION
PENNY M. SPENCE RECEIVED COMPENSATION FROM STOWERS RESOURCE MANAGEMENT INC. ("SRM") IN HER FULL-TIME ROLE AS EXECUTIVE VICE-PRESIDENT AND CFO OF SRM (THROUGH APRIL 8, 2025). ALEJANDRO SANCHEZ ALVARADO RECEIVED COMPENSATION FROM STOWERS INSTITUTE FOR MEDICAL RESEARCH ("SIMR") IN HIS FULL-TIME ROLE AS CHIEF SCIENTIFIC OFFICER OF SIMR. MATTHEW C. GIBSON RECEIVED COMPENSATION FROM SIMR IN HIS FULL-TIME ROLE AS INVESTIGATOR. JENNIFER GERTON RECEIVED COMPENSATION FROM SIMR IN HER FULL-TIME ROLL AS INVESTIGATOR. BOTH SRM AND SIMR FOLLOW THE PROCEDURES OF THE REBUTTABLE PRESUMPTION, FOR SPENCE, SANCHEZ ALVARADO, AND GIBSON, TO ESTABLISH THEIR COMPENSATION INCLUDING RETAINING THE SERVICES OF AN INDEPENDENT NATIONALLY KNOWN COMPENSATION CONSULTANT AND USING COMPENSATION COMMITTEES. GEORGE L. SATTERLEE RECEIVED COMPENSATION FROM SRM IN HIS FULL-TIME ROLE AS EXECUTIVE VICE-PRESIDENT AND HUMAN RESOURCE OFFICER OF SRM. R. SCOTT HAWLEY (DECEASED 1/31/25) RECEIVED COMPENSATION FROM SIMR IN HIS FULL-TIME ROLE AS INVESTIGATOR.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • BIOMED VALLEY DISCOVERIES INC

    C Corporation · SEE PART VII · DE · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
12 May 2026
IRS schema version
2024v5.1
Source object
202601329349302805

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