Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $10,571,634

• 1f · All other contributions, gifts and grants

  $47

• 2a · Program service revenue: BIOMEDICAL RESEARCH

  total $63,196,460 · related or exempt $63,196,460

• 2b · Program service revenue: PROGRAM SERVICE CHARGE

  total $14,478,362 · related or exempt $14,478,362

• 3 · Investment income

  total $1,691,374 · excluded $1,691,374

• 5 · Royalties

  total $115,545 · excluded $115,545

• 7a · Gross sales of assets other than inventory

  securities $4,204,678

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

  securities $3,032,354 · other assets $16,925

• 7c · Gain or loss

  securities $1,172,324 · other assets -$16,925

• 7d · Net gain or loss

  total $1,155,399 · excluded $1,155,399

• 11d · All other revenue

  total $976 · excluded $976

• 11e · Other revenue, total

  $976

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,798,512 · program services $145,293 · management and general $1,653,219

• 7 · Other salaries and wages

  total $24,881,140 · program services $22,144,215 · management and general $2,736,925

• 8 · Pension plan contributions

  total $1,915,370 · program services $1,704,679 · management and general $210,691

• 9 · Other employee benefits

  total $6,165,207 · program services $5,795,295 · management and general $369,912

• 10 · Payroll taxes

  total $2,117,367 · program services $1,884,457 · management and general $232,910

• 11b · Fees: legal

  total $59,236 · management and general $59,236

• 11c · Fees: accounting

  total $394,955 · management and general $394,955

• 11d · Fees: lobbying

  total $69,500 · management and general $69,500

• 11f · Fees: investment management

  total $137,766 · management and general $137,766

• 11g · Fees: other

  total $5,787,066 · program services $5,143,832 · management and general $643,234

• 12 · Advertising and promotion

  total $90,957 · program services $78,223 · management and general $12,734

• 13 · Office expenses

  total $377,374 · program services $347,184 · management and general $30,190

• 14 · Information technology

  total $1,768,103 · program services $1,538,250 · management and general $229,853

• 16 · Occupancy

  total $3,568,713 · program services $3,283,216 · management and general $285,497

• 17 · Travel

  total $1,744,975 · program services $1,605,377 · management and general $139,598

• 19 · Conferences, conventions and meetings

  total $183,731 · program services $143,310 · management and general $40,421

• 20 · Interest

  total $731,114 · management and general $731,114

• 22 · Depreciation, depletion and amortization

  total $7,393,697 · program services $7,319,760 · management and general $73,937

• 23 · Insurance

  total $1,129,770 · program services $994,198 · management and general $135,572

• 24a · Other expenses: RESEARCH SUPPLIES

  total $25,393,616 · program services $25,393,616

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $4,466,972 · program services $4,109,614 · management and general $357,358

• 24c · Other expenses: NON-CAPITAL EQUIPMENT

  total $615,985 · program services $560,546 · management and general $55,439

• 24d · Other expenses: SHARED EMPLOYEE EXPENSE

  total $200,000 · management and general $200,000

• 24e · All other expenses

  total $495,376 · program services $495,376

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $24,133 · end of year $19,224

• 2 · Savings and temporary cash investments

  beginning of year $224,736 · end of year $446,470

• 4 · Accounts receivable

  beginning of year $30,472,739 · end of year $25,772,876

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,532,703 · end of year $1,546,639

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

  $119,458,481

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

  $8,662,838

• 10c · Land, buildings and equipment, net

  beginning of year $108,221,793 · end of year $110,795,643

• 11 · Investments: publicly traded securities

  beginning of year $62,459,772 · end of year $66,109,196

• 12 · Investments: other securities

  beginning of year $4,652,495 · end of year $4,233,737

• 14 · Intangible assets

  beginning of year $43,779,545 · end of year $40,959,091

• 15 · Other assets

  beginning of year $6,833,368 · end of year $6,538,156

• 17 · Accounts payable and accrued expenses

  beginning of year $8,788,431 · end of year $11,756,698

• 19 · Deferred revenue

  beginning of year $16,675,339 · end of year $15,621,944

• 23 · Secured mortgages and notes payable

  beginning of year $20,914,691 · end of year $12,330,736

• 25 · Other liabilities

  beginning of year $5,488,303 · end of year $4,688,810

• 27 · Net assets without donor restrictions

  beginning of year $207,334,520 · end of year $212,022,844

The filer's explanations (Part III)

PART I, LINE 7

BONUS IS ESTABLISHED BY THE BOARD OF DIRECTORS.

Related corporations and trusts

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

• LOVELACE SCIENTIFIC RESOURCES

  C · CLINICAL TRIAL REASEARCH · NM · 100% owned · share of income -$35,027 · share of assets -$1,670 · controlled entity

  Directly controlled by LOVELACE BIOMEDICAL RESEARCH INSTITUTE

• TOURO SPEECH AND HEARING CLINIC INC

  C · INACTIVE · NY

• TOURO FOUNDATION CORPORATION

  C · INACTIVE · NY

• TOURO UNIVERSITY FOUNDATION

  C · INACTIVE · NY

• TOURO COLLEGE FOUNDATION FOR JEWISH STUDIES

  C · INACTIVE · NY

• TOURO UNIVERSITY MEDICAL ASSOCIATES

  C · HEALTH CARE · CA

• TOURO COLLEGE OF DENTAL MEDICINE FACULTY PRACTICE CORPORATION

  C · HEALTH CARE · NY

• SPEECH LANGUAGE PATHOLOGY PC

  C · HEALTH CARE · NY