Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $843,554

• 1f · All other contributions, gifts and grants

  $1,343,999

• 2a · Program service revenue: PROGRAM REVENUE

  total $851,508,845 · related or exempt $851,508,845

• 3 · Investment income

  total $8,130,831 · unrelated business $94,894 · excluded $8,035,937

• 5 · Royalties

  total $129,622 · excluded $129,622

• 6a · Gross rents

  real property $3,969,984

• 6b · Less rental expenses

  real property $393,484

• 6c · Rental income or loss

  real property $3,576,500

• 6d · Net rental income or loss

  total $3,576,500 · excluded $3,576,500

• 7a · Gross sales of assets other than inventory

  securities $78,541,202

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

  securities $72,972,931 · other assets $2,274

• 7c · Gain or loss

  securities $5,568,271 · other assets -$2,274

• 7d · Net gain or loss

  total $5,565,997 · excluded $5,565,997

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $3,965,526 · program services $3,965,526

• 5 · Compensation of officers, directors and key employees

  total $4,973,871 · management and general $4,973,871

• 6 · Compensation of disqualified persons

  total $309,641 · management and general $309,641

• 7 · Other salaries and wages

  total $310,131,310 · program services $275,532,113 · management and general $34,599,197

• 8 · Pension plan contributions

  total $33,051,274 · program services $27,394,353 · management and general $5,656,921

• 9 · Other employee benefits

  total $54,862,793 · program services $41,997,249 · management and general $12,865,544

• 10 · Payroll taxes

  total $24,470,726 · program services $20,746,463 · management and general $3,724,263

• 11b · Fees: legal

  total $3,093,723 · program services $1,355,397 · management and general $1,738,326

• 11c · Fees: accounting

  total $537,117 · management and general $537,117

• 11d · Fees: lobbying

  total $24,352 · management and general $24,352

• 11f · Fees: investment management

  total $810,339 · management and general $810,339

• 11g · Fees: other

  total $22,088,669 · program services $21,442,585 · management and general $646,084

• 12 · Advertising and promotion

  total $429,111 · management and general $429,111

• 13 · Office expenses

  total $3,835,358 · program services $3,358,686 · management and general $476,672

• 14 · Information technology

  total $32,098,505 · program services $28,756,964 · management and general $3,341,541

• 16 · Occupancy

  total $14,016,917 · program services $3,917,099 · management and general $10,099,818

• 17 · Travel

  total $6,810,043 · program services $5,633,867 · management and general $1,176,176

• 19 · Conferences, conventions and meetings

  total $197,291 · program services $157,399 · management and general $39,892

• 20 · Interest

  total $3,637,551 · management and general $3,637,551

• 22 · Depreciation, depletion and amortization

  total $29,456,414 · program services $14,856,382 · management and general $14,600,032

• 23 · Insurance

  total $1,815,000 · program services $50,091 · management and general $1,764,909

• 24a · Other expenses: SUBCONTRACTS

  total $182,140,397 · program services $182,140,397

• 24b · Other expenses: OTHER MATERIALS

  total $44,913,744 · program services $44,858,419 · management and general $55,325

• 24c · Other expenses: OUTSIDE SERVICES

  total $26,343,082 · program services $13,735,029 · management and general $12,608,053

• 24d · Other expenses: OTHER INDIRECT

  total $26,215,347 · program services $20,613,163 · management and general $5,602,184

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $29,598,048

• 2 · Savings and temporary cash investments

  beginning of year $137,006,082 · end of year $108,445,061

• 4 · Accounts receivable

  beginning of year $133,250,942 · end of year $136,914,230

• 9 · Prepaid expenses and deferred charges

  beginning of year $41,086,867 · end of year $60,430,725

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

  $635,305,522

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

  $380,971,238

• 10c · Land, buildings and equipment, net

  beginning of year $226,274,536 · end of year $254,334,284

• 11 · Investments: publicly traded securities

  beginning of year $80,597,098 · end of year $91,269,763

• 12 · Investments: other securities

  beginning of year $108,579,373 · end of year $115,703,443

• 15 · Other assets

  beginning of year $19,046,353 · end of year $20,316,670

• 17 · Accounts payable and accrued expenses

  beginning of year $98,021,025 · end of year $113,327,990

• 19 · Deferred revenue

  beginning of year $47,006,000 · end of year $41,529,625

• 23 · Secured mortgages and notes payable

  beginning of year $5,965,052 · end of year $3,714,282

• 24 · Unsecured notes and loans payable

  beginning of year $93,024,557 · end of year $89,925,476

• 25 · Other liabilities

  beginning of year $16,649,307 · end of year $15,974,351

• 27 · Net assets without donor restrictions

  beginning of year $485,175,310 · end of year $552,540,500

The filer's explanations (Part III)

PART I, LINE 1A

I) TAX INDEMNIFICATION AND GROSS UP PAYMENTS EXIST UNDER OUR NEW HIRE/EMPLOYEE RELOCATION POLICY. WHERE CERTAIN COSTS MIGHT BE CHARACTERIZED AS TAXABLE INCOME FOR EMPLOYEES, THE LABORATORY WILL REIMBURSE THE EMPLOYEE FOR ANY TAX EFFECT ASSOCIATED WITH THE MOVE. TWO DRAPER EMPLOYEES REPORTED ON FORM 990, PART VII RECEIVED A GROSS UP PAYMENT FOR MOVING COSTS. II) FIRST CLASS TRAVEL FOR BOARD MEMBERS AND OFFICERS IS PROVIDED FOR LONG-DISTANCE TRAVEL TO IMPROVE PARTICIPATION IN BUSINESS MEETINGS. THIS BENEFIT WAS PROVIDED TO NINE BOARD MEMBERS AND ONE OFFICER.

PART I, LINE 4A:

ONE HIGHEST COMPENSATED EMPLOYEE WHO WAS COVERED BY A SEPARATION AGREEMENT RECEIVED SEVERANCE AMOUNTS WHICH ARE REPORTED IN PART II, COLUMN B(III).

PART I, LINE 4B:

EFFECTIVE JULY 1, 2022, THE ORGANIZATION ADOPTED A LONG-TERM INCENTIVE PLAN FOR CERTAIN LISTED INDIVIDUALS. AMOUNTS ACCRUED UNDER THE PLAN ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C) AS PART OF DEFERRED COMPENSATION. NO AMOUNTS WERE DISTRIBUTED UNDER THE PLAN IN CALENDAR YEAR 2023.

PART I, LINE 6:

KEY MEMBERS OF STAFF ARE ELIGIBLE TO PARTICIPATE IN THE CORPORATE MANAGEMENT INCENTIVE PROGRAM (CMIP). PARTICIPANTS INCLUDE, BUT ARE NOT LIMITED TO, THE EMPLOYEES LISTED ON SCHEDULE J. THE PROGRAM WAS BASED ON PRIOR YEAR COMPONENT METRICS RELATED TO PROFITABILITY, STRATEGIC PLAN ACHIEVEMENT AND LEADERSHIP. OVERALL PROGRAM ACHIEVEMENT IS REVIEWED BY THE PRESIDENT OF DRAPER AND APPROVED BY THE HUMAN RESOURCE AND COMPENSATION COMMITTEE.

PART I, LINE 7:

PLEASE SEE RESPONSE TO PART I, LINE 4B ABOVE REGARDING THE ORGANIZATION'S LONG TERM INCENTIVE PLAN THAT INCLUDES AWARDS SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS.