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← HUNTINGTON MEDICAL RESEARCH INSTITUTES

Form 990 for tax year 2022

Filed by HUNTINGTON MEDICAL RESEARCH INSTITUTES.

Totals

Total revenue
$10,421,061
Total expenses
$14,644,962
Contributions and grants received
$7,478,970
Grants paid
$0
Program service revenue
$402,805
Investment income
$2,354,299
Other revenue
$184,987
Total assets, end of year
$66,349,122
Total liabilities, end of year
$2,120,182
Net assets or fund balances, end of year
$64,228,940
Program services expenses (Part IX)
$9,320,063
Management and general expenses
$4,349,438
Fundraising expenses
$975,461
Program service expenses (Part III)
$9,320,063

Program services were 63.6% 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.

  • 1e · Government grants (contributions)

    $4,133,321

  • 1f · All other contributions, gifts and grants

    $3,345,649

  • 1g · Noncash contributions included above

    $10,035

  • 2a · Program service revenue: MEDICAL RESEARCH

    total $402,805 · related or exempt $402,805

  • 3 · Investment income

    total $1,582,445 · unrelated business $115,025 · excluded $1,467,420

  • 5 · Royalties

    total $6,171 · excluded $6,171

  • 6a · Gross rents

    real property $178,816

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $178,816

  • 6d · Net rental income or loss

    total $178,816 · excluded $178,816

  • 7a · Gross sales of assets other than inventory

    securities $3,376,670

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

    securities $2,604,816

  • 7c · Gain or loss

    securities $771,854

  • 7d · Net gain or loss

    total $771,854 · excluded $771,854

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,655,504 · program services $295,565 · management and general $1,147,859 · fundraising $212,080

  • 7 · Other salaries and wages

    total $4,056,814 · program services $2,668,557 · management and general $1,206,758 · fundraising $181,499

  • 8 · Pension plan contributions

    total $422,958 · program services $219,473 · management and general $174,343 · fundraising $29,142

  • 9 · Other employee benefits

    total $844,327 · program services $438,121 · management and general $348,032 · fundraising $58,174

  • 10 · Payroll taxes

    total $369,896 · program services $191,939 · management and general $152,471 · fundraising $25,486

  • 11b · Fees: legal

    total $194,577 · program services $11,645 · management and general $176,863 · fundraising $6,069

  • 11c · Fees: accounting

    total $33,115 · management and general $33,115

  • 11f · Fees: investment management

    total $31,125 · management and general $31,125

  • 11g · Fees: other

    total $1,758,995 · program services $1,405,047 · management and general $270,372 · fundraising $83,576

  • 13 · Office expenses

    total $1,448,737 · program services $647,118 · management and general $476,277 · fundraising $325,342

  • 14 · Information technology

    total $25,624 · management and general $25,624

  • 16 · Occupancy

    total $338,560 · program services $296,198 · management and general $39,103 · fundraising $3,259

  • 17 · Travel

    total $362,814 · program services $286,475 · management and general $42,210 · fundraising $34,129

  • 22 · Depreciation, depletion and amortization

    total $1,533,224 · program services $1,364,713 · management and general $157,459 · fundraising $11,052

  • 23 · Insurance

    total $366,814 · program services $328,531 · management and general $35,338 · fundraising $2,945

  • 24a · Other expenses: RESEARCH AND OTHER SUPP

    total $716,151 · program services $716,151

  • 24b · Other expenses: REPAIRS, MAINTENANCE, A

    total $341,465 · program services $325,022 · management and general $15,178 · fundraising $1,265

  • 24c · Other expenses: TAXES AND LICENSES

    total $144,262 · program services $125,508 · management and general $17,311 · fundraising $1,443

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,686,352 · end of year $3,738,954

  • 3 · Pledges and grants receivable

    beginning of year $5,157,705 · end of year $2,342,324

  • 4 · Accounts receivable

    beginning of year $385,085 · end of year $703,299

  • 9 · Prepaid expenses and deferred charges

    beginning of year $147,917 · end of year $174,000

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

    $45,530,819

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

    $14,720,642

  • 10c · Land, buildings and equipment, net

    beginning of year $32,165,263 · end of year $30,810,177

  • 11 · Investments: publicly traded securities

    beginning of year $23,126,304 · end of year $24,740,161

  • 12 · Investments: other securities

    beginning of year $4,216,838 · end of year $3,674,832

  • 14 · Intangible assets

    beginning of year $205,420 · end of year $165,375

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,473,168 · end of year $802,875

  • 19 · Deferred revenue

    beginning of year $3,634 · end of year $0

  • 25 · Other liabilities

    beginning of year $636,560 · end of year $1,317,307

  • 27 · Net assets without donor restrictions

    beginning of year $45,946,671 · end of year $42,700,134

  • 28 · Net assets with donor restrictions

    beginning of year $22,030,851 · end of year $21,528,806

Mission and programs · 2022

Mission

IMPROVING LIVES THROUGH PATIENT FOCUSED SCIENTIFIC RESEARCH.

Activities or mission (Part I)

HMRI CONDUCTS GROUNDBREAKING BIOMEDICAL RESEARCH AND INSPIRES THE NEXT GENERATION OF SCIENTISTS.

  • HMRI IS A PIONEER IN SCIENTIFIC RESEARCH, WITH A 70-YEAR TRACK RECORD OF GROUNDBREAKING DISCOVERIES THAT HAVE CHANGED THE WORLD, FROM SEATBELTS TO LIFESAVING DIAGNOSTIC TECHNOLOGY SUCH AS THE MRI. HMRI'S MISSION IS TO CONDUCT GROUNDBREAKING BIOMEDICAL RESEARCH AND TO INSPIRE THE NEXT GENERATION OF SCIENTISTS. TODAY, HRMI'S WORK IS FOCUSED ON BIOMEDICAL RESEARCH PROGRAMS THAT INVESTIGATE DISEASES OF THE HEART AND BRAIN SUCH AS ALZHEIMER'S DISEASE, HEART ATTACKS, AND THE BIOLOGICAL BASIS OF MENTAL ILLNESS. IN 2022/23, HMRI RESEARCHERS PUBLISHED SCIENTIFIC PAPERS IN PEER REVIEWED JOURNALS, SERVED ON EDITORIAL BOARDS AND SCIENTIFIC ADVISORY BOARDS, AND PRESENTED THEIR WORK AT MAJOR MEDICAL RESEARCH CONFERENCES.MAJOR ACCOMPLISHMENTS DURING THE YEAR INCLUDED MONTHLY SEMINARS THAT ARE OPEN TO THE PUBLIC THAT COVER TIMELY MEDICAL AND RESEARCH TOPICS, QUARTERLY COMMUNITY EDUCATION EVENTS, AND HOSTING MORE THAN 40 HIGH SCHOOL STUDENTS, COLLEGE STUDENTS, AND POST-DOCTORAL FELLOWS LEARNING ABOUT RESEARCH UNDER THE MENTORSHIP OF OUR SCIENTISTS IN OUR EDUCATION PROGRAMS.

    Expenses $9,320,063 · Revenue $402,805

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

Listed in Part VII

  • Susan E Kane

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • James D Gamb

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    2

  • John Babcock

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Alexandra Levine

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • C Joseph Chang

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Cameron Boswell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Daniel R Kimbell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • David M Davis

    BOARD MEMBER - UNTIL 2/23

    Total calculated
    $0
    Hours/week
    2

  • Edward A Mena

    BOARD MEMBER - AS OF 1/23

    Total calculated
    $0
    Hours/week
    2

  • Jacquie Ochoa-Rosellini

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • James J Femino

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • John L Mothershead

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Kathleen Kane

    BOARD MEMBER - UNTIL 12/22

    Total calculated
    $0
    Hours/week
    2

  • Lawrence W Jones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Peter M Menard

    BOARD MEMBER - UNTIL 5/23

    Total calculated
    $0
    Hours/week
    2

  • Rick Wentzel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Roger Engemann

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Sandra Sharp

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Sonia Singla

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Terry Perucca

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Uma Shrivastava

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • William E Thomson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Barbara Hunt

    BOARD MEMBER - UNTIL 5/23

    Total calculated
    $0
    Hours/week
    2

  • Julia Bradsher

    PRESIDENT AND CEO

    Total calculated
    $483,250
    From this org
    $456,841
    From related orgs
    $0
    Other
    $26,409
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $456,841
    Bonus
    $0
    Other
    $0
    Deferred
    $23,468
    Nontaxable benefits
    $2,941
    Filer's total
    $483,250

  • Wendy Welch-Keller

    CHIEF OF STAFF, BOARD SECRETARY

    Total calculated
    $141,025
    From this org
    $123,068
    From related orgs
    $0
    Other
    $17,957
    Hours/week
    40

  • Gabriel Rincon

    CFO & TREASURER - AS OF 07/2022

    Total calculated
    $125,296
    From this org
    $110,992
    From related orgs
    $0
    Other
    $14,304
    Hours/week
    40

  • Robert Kloner

    CSO, DIRECTOR CARDIOVASCULAR

    Total calculated
    $413,874
    From this org
    $402,924
    From related orgs
    $0
    Other
    $10,950
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $402,924
    Bonus
    $0
    Other
    $0
    Deferred
    $10,350
    Nontaxable benefits
    $600
    Filer's total
    $413,874

  • Mark Dixon

    CHIEF OPERATION OFFICER

    Total calculated
    $177,525
    From this org
    $162,976
    From related orgs
    $0
    Other
    $14,549
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,976
    Bonus
    $0
    Other
    $0
    Deferred
    $13,133
    Nontaxable benefits
    $1,416
    Filer's total
    $177,525

  • Joceylyn Ferguson

    CHIEF DEV. OFFICER - UNTIL 8/23

    Total calculated
    $203,025
    From this org
    $192,201
    From related orgs
    $0
    Other
    $10,824
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,201
    Bonus
    $0
    Other
    $0
    Deferred
    $7,800
    Nontaxable benefits
    $3,024
    Filer's total
    $203,025

  • Anju Vasudevan

    SCIENTIFIC DIRECTOR NEUROSCIENCE

    Total calculated
    $215,946
    From this org
    $189,222
    From related orgs
    $0
    Other
    $26,724
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,222
    Bonus
    $0
    Other
    $0
    Deferred
    $15,996
    Nontaxable benefits
    $10,728
    Filer's total
    $215,946

  • Nicole Purcell

    SCIENTIFIC DIRECTOR OF EDUCATION PROGRAMS / ASSOCI

    Total calculated
    $204,137
    From this org
    $187,999
    From related orgs
    $0
    Other
    $16,138
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,999
    Bonus
    $0
    Other
    $0
    Deferred
    $15,103
    Nontaxable benefits
    $1,035
    Filer's total
    $204,137

  • Jose Juan Rosas

    DIRECTOR, VIVARIUM

    Total calculated
    $127,530
    From this org
    $112,033
    From related orgs
    $0
    Other
    $15,497
    Hours/week
    40

  • Arakaki Xianghong

    ASSISTANT PROFESSOR

    Total calculated
    $112,750
    From this org
    $104,167
    From related orgs
    $0
    Other
    $8,583
    Hours/week
    40

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 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 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
  • 8 · Paid under 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

No itemized grants to organizations on this return.

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.

  • CHARITABLE REMAINDER TRUST (1)

    CA

Provenance

Return type
form_990
Tax year
2022
Filed
13 June 2024
IRS schema version
2022v5.0
Source object
202401699349301100

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