Form 990 for tax year 2024

Filed by LIFE SCIENCE WASHINGTON INSTITUTE.

Totals

Total revenue: $1,065,026
Total expenses: $1,062,716
Contributions and grants received: $1,065,026
Grants paid: $500,000
Program service revenue: $0
Investment income: $0
Other revenue: $0
Total assets, end of year: $140,594
Total liabilities, end of year: $54,355
Net assets or fund balances, end of year: $86,239
Program services expenses (Part IX): $996,257
Management and general expenses: $51,246
Fundraising expenses: $15,213
Program service expenses (Part III): $996,257

Program services were 93.7% 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.

1d · Related organizations

$50,000
1e · Government grants (contributions)

$977,526
1f · All other contributions, gifts and grants

$37,500

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $500,000 · program services $500,000
5 · Compensation of officers, directors and key employees

total $129,495 · program services $77,697 · management and general $38,848 · fundraising $12,950
7 · Other salaries and wages

total $222,674 · program services $222,674
8 · Pension plan contributions

total $9,688 · program services $9,688
9 · Other employee benefits

total $15,468 · program services $15,468
10 · Payroll taxes

total $24,449 · program services $21,228 · management and general $2,416 · fundraising $805
11c · Fees: accounting

total $6,600 · management and general $6,600
11g · Fees: other

total $50,000 · program services $50,000
13 · Office expenses

total $2,471 · program services $1,510 · management and general $480 · fundraising $481
14 · Information technology

total $919 · program services $588 · management and general $165 · fundraising $166
17 · Travel

total $26,211 · program services $26,211
23 · Insurance

total $1,297 · management and general $1,297
24a · Other expenses: SUBCONTRACT

total $50,408 · program services $50,408
24b · Other expenses: S&P DATABASE

total $7,304 · program services $7,304
24c · Other expenses: EVENT EXPENSE

total $6,080 · program services $6,080
24d · Other expenses: BUSINESS LICENSES

total $73 · management and general $73
24e · All other expenses

total $9,579 · program services $7,401 · management and general $1,367 · fundraising $811

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $126,304 · end of year $69,159
4 · Accounts receivable

beginning of year $53,617 · end of year $71,359
9 · Prepaid expenses and deferred charges

beginning of year $5,099 · end of year $76
17 · Accounts payable and accrued expenses

beginning of year $9,516 · end of year $29,613
19 · Deferred revenue

beginning of year $55,000 · end of year $7,500
25 · Other liabilities

beginning of year $36,575 · end of year $17,242
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 $83,929 · end of year $86,239

Mission and programs · 2024

Mission

OUR MISSION IS TO PROVIDE SUPPORT TO LIFE SCIENCE ENTREPRENEURS AND START-UP COMPANIES VIA EDUCATIONAL, ECONOMIC AND OTHER RESOURCES CRUCIAL FOR THEIR SUCCESS. WE WANT TO ENSURE LIFE SCIENCE ENTREPRENEURS CONTINUE TO HAVE ACCESS TO THE MENTORING AND RESOURCES THEY REQUIRE TO START AND GROW THEIR COMPANIES.

LIFE SCIENCE WASHINGTON INSTITUTE AIMS TO ASSIST LIFE SCIENCE RESEARCHERS, ENTREPRENEURS, AND COMPANIES IN BRIDGING THE GAP BETWEEN DISCOVERY AND COMMERCIALIZATION. WE DO THIS THROUGH A BROAD RANGE OF ACTIVITIES, INCLUDING MENTORING SERVICES, REGULAR EDUCATIONAL AND COMPANY SHOWCASE EVENTS, AND THE CREATION OF RESOURCES PERTINENT TO THE ISSUES ASSOCIATED WITH TECHNOLOGY COMMERCIALIZATION IN WASHINGTON STATE.

Expenses $996,257 · Grants $500,000

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

Listed in Part VII

Marc CummingsMARC CUMMINGS

BOARD CHAIR

Total calculated

$394,481

From this org

$0

From related orgs

$377,231

Other

$17,250

Hours/week

2 + 48 related

Schedule J breakdown matched by us

Base

$0 + $316,599 related

Bonus

$0 + $60,632 related

Other

$0

Deferred

$0 + $17,250 related

Nontaxable benefits

$0

Filer's total

$0 + $394,481 related
Erin Williams HueterERIN WILLIAMS HUETER

BOARD MEMBER

Total calculated

$0

Hours/week

1
Scott MaloneySCOTT MALONEY

BOARD MEMBER

Total calculated

$0

Hours/week

1 + 1 related
Loretta LittleLORETTA LITTLE

BOARD MEMBER

Total calculated

$0

Hours/week

1 + 1 related
Sean McClainSEAN MCCLAIN

BOARD MEMBER

Total calculated

$0

Hours/week

1 + 1 related
Kayla YoungKAYLA YOUNG

BOARD MEMBER

Total calculated

$0

Hours/week

1
Soraya BaileySORAYA BAILEY

BOARD MEMBER

Total calculated

$0

Hours/week

1
Richard GierschRICHARD GIERSCH

EXECUTIVE DIRECTOR

Total calculated

$129,495

From this org

$109,381

From related orgs

$0

Other

$20,114

Hours/week

40
Jennifer MahlumJENNIFER MAHLUM

TREASURER

Total calculated

$98,382

From this org

$0

From related orgs

$80,897

Other

$17,485

Hours/week

1 + 40 related
Kathleen GoodfellowKATHLEEN GOODFELLOW

SECRETARY

Total calculated

$103,968

From this org

$0

From related orgs

$86,137

Other

$17,831

Hours/week

3 + 47 related
Aylin KimAYLIN KIM

DIRECTOR OF ENTREPRENEURSHIP

Total calculated

$121,487

From this org

$102,902

From related orgs

$0

Other

$18,585

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

None.

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

The filer's explanations (Part III)

PART I, LINE 3: COMPENSATION IS REVIEWED AND APPROVED BY THE ORGANIZATION'S EXECUTIVE COMMITTEE OR THE COMPENSATION COMMITTEE, OF LIFE SCIENCE WASHINGTON, A RELATED ORGANIZATION. ANY PERSON WITH A CONFLICT OF INTEREST REGARDING COMPENSATION ISSUES IS NOT INVOLVED IN THE REVIEW AND APPROVAL PROCESS. THE COMPENSATION IS REVIEWED AND APPROVED USING THE AMERICAN SOCIETY OF ASSOCIATION EXECUTIVES SALARY SURVEY AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS, IN FUNCTIONALLY COMPARABLE POSITIONS, FOR SIMILAR ORGANIZATIONS. MINUTES OF COMPENSATION MEETINGS ARE KEPT AND THERE IS DOCUMENTATION AND RECORDKEEPING OF DELIBERATIONS AND DECISIONS MADE REGARDING COMPENSATION.

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

FENOLOGICA BIOSCIENCES INC

$25,000

SEE PART IV
GMJ TECHNOLOGIES INC

$25,000

SEE PART IV
LIFELENSAR

$25,000

SEE PART IV
MANAGED HEALTH CONNECTIONS

$25,000

SEE PART IV
NIMBLE SURGICAL

$25,000

SEE PART IV
OPTICYTE INC

$25,000

SEE PART IV
PICCOLO BIOSYSTEMS INC

$25,000

SEE PART IV
POLYBIOMICS INC

$25,000

SEE PART IV
HART3S

$25,000

SEE PART IV
METABOLITEDX CORP

$25,000

SEE PART IV

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.

LIFE SCIENCE WASHINGTON

501(C)(6) · TRADE ASSOCIATION · WA

Provenance

Return type: form_990
Tax year: 2024
Filed: 6 November 2025
IRS schema version: 2024v5.2
Source object: 202503209349301530

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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