Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $2,782,801

• 1e · Government grants (contributions)

  $9,294,265

• 1f · All other contributions, gifts and grants

  $117,552

• 2a · Program service revenue: BIOMEDICAL RESEARCH

  total $50,746,173 · related or exempt $50,746,173

• 2b · Program service revenue: PROGRAM SERVICE CHARGE

  total $12,295,143 · related or exempt $12,295,143

• 3 · Investment income

  total $1,469,490 · excluded $1,469,490

• 5 · Royalties

  total $32,278 · excluded $32,278

• 6a · Gross rents

  real property $308,862

• 6b · Less rental expenses

  real property $24,510

• 6c · Rental income or loss

  real property $284,352

• 6d · Net rental income or loss

  total $284,352 · excluded $284,352

• 7a · Gross sales of assets other than inventory

  securities $43,458,349 · other assets $2,092

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

  securities $39,520,404 · other assets $0

• 7c · Gain or loss

  securities $3,937,945 · other assets $2,092

• 7d · Net gain or loss

  total $3,940,037 · excluded $3,940,037

• 11a · Other revenue: INSURANCE CLAIM

  total $2,394,950 · excluded $2,394,950

• 11d · All other revenue

  total $40,000 · excluded $40,000

• 11e · Other revenue, total

  $2,434,950

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,718,514 · management and general $1,718,514

• 7 · Other salaries and wages

  total $25,739,405 · program services $22,337,201 · management and general $3,402,204

• 8 · Pension plan contributions

  total $2,304,702 · program services $2,000,069 · management and general $304,633

• 9 · Other employee benefits

  total $6,790,340 · program services $5,934,757 · management and general $855,583

• 10 · Payroll taxes

  total $2,169,951 · program services $1,883,129 · management and general $286,822

• 11b · Fees: legal

  total $29,439 · management and general $29,439

• 11c · Fees: accounting

  total $280,265 · management and general $280,265

• 11d · Fees: lobbying

  total $76,802 · management and general $76,802

• 11f · Fees: investment management

  total $105,958 · management and general $105,958

• 11g · Fees: other

  total $6,842,617 · program services $6,270,804 · management and general $571,813

• 12 · Advertising and promotion

  total $70,495 · program services $70,495

• 13 · Office expenses

  total $316,061 · program services $295,206 · management and general $20,855

• 14 · Information technology

  total $1,622,893 · program services $1,475,429 · management and general $147,464

• 16 · Occupancy

  total $3,634,153 · program services $3,394,371 · management and general $239,782

• 17 · Travel

  total $2,184,392 · program services $1,572,534 · management and general $611,858

• 19 · Conferences, conventions and meetings

  total $160,505 · program services $140,901 · management and general $19,604

• 20 · Interest

  total $835,869 · management and general $835,869

• 22 · Depreciation, depletion and amortization

  total $7,600,442 · program services $6,765,141 · management and general $835,301

• 23 · Insurance

  total $1,325,593 · program services $1,212,558 · management and general $113,035

• 24a · Other expenses: RESEARCH SUPPLIES

  total $19,725,576 · program services $19,681,149 · management and general $44,427

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $1,610,166 · program services $1,503,927 · management and general $106,239

• 24c · Other expenses: NON-CAPITAL EQUIPMENT

  total $810,674 · program services $757,301 · management and general $53,373

• 24e · All other expenses

  total $1,789,884 · program services $1,789,884

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $19,224 · end of year $2,531

• 2 · Savings and temporary cash investments

  beginning of year $446,470 · end of year $176,700

• 4 · Accounts receivable

  beginning of year $25,772,876 · end of year $21,803,070

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,546,639 · end of year $1,606,510

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

  $144,383,049

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

  $12,601,566

• 10c · Land, buildings and equipment, net

  beginning of year $110,795,643 · end of year $131,781,483

• 11 · Investments: publicly traded securities

  beginning of year $66,109,196 · end of year $53,251,483

• 12 · Investments: other securities

  beginning of year $4,233,737 · end of year $2,593,627

• 14 · Intangible assets

  beginning of year $40,959,091 · end of year $38,138,636

• 15 · Other assets

  beginning of year $6,538,156 · end of year $6,124,472

• 17 · Accounts payable and accrued expenses

  beginning of year $11,756,698 · end of year $9,898,461

• 19 · Deferred revenue

  beginning of year $15,621,944 · end of year $12,494,230

• 23 · Secured mortgages and notes payable

  beginning of year $12,330,736 · end of year $9,991,412

• 25 · Other liabilities

  beginning of year $4,688,810 · end of year $15,932,796

• 27 · Net assets without donor restrictions

  beginning of year $212,022,844 · end of year $207,161,613

The filer's explanations (Part III)

PART I, LINE 7

BONUSES ARE BASED ON TITLE AND 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 $50,877 · share of assets $5,000 · 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