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Nonprofiteer
← CLAYTON MEDICAL RESEARCH FOUNDATION INC

Form 990 for tax year 2022

Filed by CLAYTON MEDICAL RESEARCH FOUNDATION INC.

Totals

Total revenue
$2,968,221
Total expenses
$2,947,932
Contributions and grants received
$0
Grants paid
$2,408,327
Program service revenue
$0
Investment income
$2,968,221
Other revenue
$0
Total assets, end of year
$77,997,012
Total liabilities, end of year
$2,351,890
Net assets or fund balances, end of year
$75,645,122
Program services expenses (Part IX)
$2,644,407
Management and general expenses
$303,525
Fundraising expenses
$0
Program service expenses (Part III)
$2,644,407

Program services were 89.7% 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.

  • 3 · Investment income

    total $1,852,220 · excluded $1,852,220

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $6,515,996

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

    securities $5,399,995

  • 7c · Gain or loss

    securities $1,116,001

  • 7d · Net gain or loss

    total $1,116,001 · excluded $1,116,001

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,408,327 · program services $2,408,327

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $64,845 · program services $55,118 · management and general $9,727

  • 6 · Compensation of disqualified persons

    total $168,150 · program services $126,113 · management and general $42,037

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $3,603 · program services $2,702 · management and general $901

  • 11c · Fees: accounting

    total $13,131 · management and general $13,131

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $162,788 · management and general $162,788

  • 11g · Fees: other

    total $16,181 · management and general $16,181

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $4,331 · management and general $4,331

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $21,000 · management and general $21,000

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $75,576 · program services $52,147 · management and general $23,429

  • 24a · Other expenses: Donations

    total $10,000 · management and general $10,000

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $33,137 · end of year $136,071

  • 2 · Savings and temporary cash investments

    beginning of year $3,340 · end of year $3,245

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $361,056 · end of year $411,296

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,450 · end of year $50,252

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $95,111,477 · end of year $77,396,148

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $38,573 · end of year $5,890

  • 18 · Grants payable

    beginning of year $2,674,478 · end of year $2,346,000

  • 27 · Net assets without donor restrictions

    beginning of year $79,641,794 · end of year $62,440,507

  • 28 · Net assets with donor restrictions

    beginning of year $13,204,615 · end of year $13,204,615

Mission and programs · 2022

Mission

As a supporting organization to the Clayton Foundation for Research ("Clayton"), the Foundation's primary mission is to fund medical research for the purpose of discovering the cause, prevention and cure of diseases for the benefit of mankind. The secondary mission is to transfer the resulting medical research discoveries from the laboratory to the use of the general public by patenting and licensing such technology for development into drugs or other products for the use and benefit of mankind through Clayton's other supporting entities.

Activities or mission (Part I)

Clayton Medical Research Foundation, Inc. was established as a charitable non-profit corporation to support medical and scientific research.

  • The Tumor Targeting Toxins grant to the University of California, San Diego, funds research directed to the discovery and development of compounds for cancer therapy, compounds synthesized with proteins joined by a sortase reaction, and compounds with cancer stem cell and hormone targeting ligands coupled with toxins for delivery to ovarian tumors and other epithelial tumors. Patent applications have been filed for these technologies by Research Development Foundation ("RDF"), a tax-exempt supporting organization of the Foundation (see Schedule R, Part III), and collaborations have been and are being established with other scientists and with commercial entities and consultants for manufacturing and development of drugs for human cancer indications.

    Expenses $847,873 · Grants $772,327

  • STF-1 and Glucose Control grant to The Salk Institute for Biological Studies focuses on characterization of cellular proteins that modulate fatty acid metabolism in muscle and fat; characterization of a signaling module that promotes beta cell survival; and the role of PDX and other known and new molecular switches in promoting beta islet cell proliferation and insulin secretion in the pancreas and liver.

    Expenses $706,742 · Grants $643,000

  • A medical research grant to The University of California, Irvine for research collaboration with The University of Texas Health Science Center San Antonio involving the design and development of new technology and devices based on the use of light for diagnosis, guidance and surgery in cardiological and other medical applications, including possible use in treatment of coronary total occlusion and coronary artery diseases and technologies to allow stenting intravascular coronary arteries that are narrowed or blocked due to calcification. Research to date on this project has resulted in several issued patents and a number of pending patent applications have been filed. Licensing discussions are currently in progress with a commercial entity that will take on the clinical development of one of these technologies.

    Expenses $385,412 · Grants $350,000

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

Listed in Part VII

  • Robert M Wallace

    Trustee, President

    Total calculated
    $716,492
    From this org
    $12,969
    From related orgs
    $609,993
    Other
    $93,530
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $12,969 + $609,993 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $93,530 related
    Filer's total
    $12,969 + $703,523 related

  • Jarred W Sloan

    Trustee, Vice President, Treasurer

    Total calculated
    $716,492
    From this org
    $12,969
    From related orgs
    $609,993
    Other
    $93,530
    Hours/week
    6 + 34 related

    Schedule J breakdown matched by us

    Base
    $12,969 + $609,993 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $93,530 related
    Filer's total
    $12,969 + $703,523 related

  • Lynn P Carter

    Trustee

    Total calculated
    $716,492
    From this org
    $12,969
    From related orgs
    $609,993
    Other
    $93,530
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $12,969 + $609,993 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $93,530 related
    Filer's total
    $12,969 + $703,523 related

  • Thomas J Brorby

    Trustee, Chairman

    Total calculated
    $372,750
    From this org
    $12,969
    From related orgs
    $311,261
    Other
    $48,520
    Hours/week
    2 + 13 related

    Schedule J breakdown matched by us

    Base
    $12,969 + $311,261 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $48,520 related
    Filer's total
    $12,969 + $359,781 related

  • Brian W Crozier

    Trustee

    Total calculated
    $372,750
    From this org
    $12,969
    From related orgs
    $311,261
    Other
    $48,520
    Hours/week
    2 + 13 related

    Schedule J breakdown matched by us

    Base
    $12,969 + $311,261 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $48,520 related
    Filer's total
    $12,969 + $359,781 related

  • Joan S Dunlap

    Vice President, Assistant Secretary

    Total calculated
    $320,966
    From this org
    $0
    From related orgs
    $236,736
    Other
    $84,230
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    not reported + $236,736 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $84,230 related
    Filer's total
    not reported + $320,966 related

  • Robert L Evans

    Assistant Treasurer

    Total calculated
    $276,727
    From this org
    $0
    From related orgs
    $198,267
    Other
    $78,460
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $198,267 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $78,460 related
    Filer's total
    not reported + $276,727 related

  • John Russell Beekman

    Vice President

    Total calculated
    $145,294
    From this org
    $0
    From related orgs
    $106,740
    Other
    $38,554
    Hours/week
    10 + 30 related

  • Christopher MacKenzie

    Vice President, Secretary

    Total calculated
    $0
    Hours/week
    1 + 2 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

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 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

The filer's explanations (Part III)

Part II, Compensation from Unrelated Organizations
Part 1, Line 1a - Foundation representatives on Foundation business may travel first class under the travel policy approved by the Board but such persons sometimes fly economy, depending upon routes and convenience of flight schedules. The policy does not permit charter travel, and no charter travel was provided to any such persons.

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

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.

  • Foundation Services Inc

    C · Holding Company · NV

    Directly controlled by NA

  • Clayton Biotechnologies Inc

    C · Technology Transfer · NV

    Directly controlled by Foundation Services Inc

  • William Clayton Jr Trust

    T · Charitable Remainder Trust · TX

    Directly controlled by Clayton Foundation for Research

  • Julie Davis Clayton Trust

    T · Charitable Remainder Trust · TX

    Directly controlled by Clayton Foundation for Research

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323199349306277

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