Skip to content
Nonprofiteer
← FOUNDATION FOR RESEARCH

Form 990 for tax year 2024

Filed by FOUNDATION FOR RESEARCH.

Totals

Total revenue
$6,556,157
Total expenses
$7,047,376
Contributions and grants received
$0
Grants paid
$5,710,000
Program service revenue
$0
Investment income
$6,556,157
Other revenue
$0
Total assets, end of year
$160,440,997
Total liabilities, end of year
$139,353
Net assets or fund balances, end of year
$160,301,644
Program services expenses (Part IX)
$6,227,373
Management and general expenses
$820,003
Fundraising expenses
$0
Program service expenses (Part III)
$6,227,373

Program services were 88.4% 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 $3,025,942 · excluded $3,025,942

  • 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 $4,585,981

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

    securities $1,055,766

  • 7c · Gain or loss

    securities $3,530,215

  • 7d · Net gain or loss

    total $3,530,215 · excluded $3,530,215

  • 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 $5,710,000 · program services $5,710,000

  • 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 $899,782 · program services $449,892 · management and general $449,890

  • 6 · Compensation of disqualified persons

    total $21,725 · program services $10,863 · management and general $10,862

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $24,959 · program services $12,480 · management and general $12,479

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $6,294 · program services $3,147 · management and general $3,147

  • 11c · Fees: accounting

    total $26,000 · management and general $26,000

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $216,725 · management and general $216,725

  • 11g · Fees: other

    total $12,753 · management and general $12,753

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $12,171 · management and general $12,171

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $32,450 · management and general $32,450

  • 17 · Travel

    total $2,536 · management and general $2,536

  • 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 $76,196 · program services $38,098 · management and general $38,098

  • 24a · Other expenses: Postretirement health benefits expense

    total $5,785 · program services $2,893 · management and general $2,892

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $429,000 · end of year $25,806

  • 2 · Savings and temporary cash investments

    beginning of year $731,411 · end of year $184,785

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $497,443 · end of year $505,405

  • 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 $51,286 · end of year $51,902

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

    $6,358

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

    $6,358

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $101,567,538 · end of year $103,656,870

  • 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

    beginning of year $49,881,704 · end of year $56,016,229

  • 17 · Accounts payable and accrued expenses

    beginning of year $126,062 · end of year $139,353

  • 27 · Net assets without donor restrictions

    beginning of year $56,076,483 · end of year $63,345,807

  • 28 · Net assets with donor restrictions

    beginning of year $96,955,837 · end of year $96,955,837

Mission and programs · 2024

Mission

As a supporting organization to the Clayton Foundation for Research ("Clayton"), the organization'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)

Foundation for Research is a charitable non-profit corporation established to support medical and scientific research.

  • Foundation for Research is a supporting organization to Clayton Foundation for Research (Clayton) . The organization grants funds to Clayton for its general support. Clayton uses such funds in carrying out its primary mission (i.e. to conduct medical research in conjunction with hospitals for the purpose of discovering the cause, prevention and cure of diseases for the benefit of mankind).

    Expenses $6,227,373 · Grants $1,775,000

  • Research Development Foundation ("RDF") is another supporting organization to the Clayton Foundation for Research("Clayton"). The organization grants funds to RDF for its general support. RDF uses such funds in carrying out the secondary mission of Clayton (i.e., to advance medical and scientific research through the transfer of technology from the laboratory to public use by obtaining patents and licenses and administering patents arising out of discoveries made pursuant to research conducted or sponsored by Clayton and its supporting organizations). RDF's current portfolio contains approximately 200 patent applications and issued patents on discoveries that have been made in the course of the various research projects that have been conducted by Clayton or funded by the organization and another supporting entity of Clayton over the years. RDF has entered into numerous licenses of such discoveries to pharmaceutical and startup companies, and many of such discoveries have already led to products that have been brought to market by the licensee and are benefiting mankind.

    Grants $3,935,000

As filed on the 2024 return.

Listed in Part VII

  • Robert M Wallace

    Trustee, President

    Total calculated
    $785,428
    From this org
    $210,276
    From related orgs
    $475,739
    Other
    $99,413
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $210,276 + $475,739 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $16,447 + $82,966 related
    Filer's total
    $226,723 + $558,705 related

  • Jarred W Sloan

    Trustee, Vice President, Treasurer

    Total calculated
    $785,428
    From this org
    $173,720
    From related orgs
    $512,295
    Other
    $99,413
    Hours/week
    6 + 34 related

    Schedule J breakdown matched by us

    Base
    $173,720 + $512,295 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $10,964 + $88,449 related
    Filer's total
    $184,684 + $600,744 related

  • Lynn P Carter

    Trustee

    Total calculated
    $785,428
    From this org
    $100,624
    From related orgs
    $585,391
    Other
    $99,413
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $100,624 + $585,391 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $99,413 related
    Filer's total
    $100,624 + $684,804 related

  • Joan S Dunlap

    Trustee,VP,Assistant Secretary

    Total calculated
    $707,039
    From this org
    $126,592
    From related orgs
    $491,153
    Other
    $89,294
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $126,592 + $491,153 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $3,895 + $85,399 related
    Filer's total
    $130,487 + $576,552 related

  • Brian W Crozier

    Trustee, Chairman

    Total calculated
    $406,898
    From this org
    $100,624
    From related orgs
    $256,424
    Other
    $49,850
    Hours/week
    2 + 13 related

    Schedule J breakdown matched by us

    Base
    $100,624 + $256,424 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $49,850 related
    Filer's total
    $100,624 + $306,274 related

  • Robert L Evans

    VP, Assistant Treasurer

    Total calculated
    $305,150
    From this org
    $0
    From related orgs
    $222,000
    Other
    $83,150
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $222,000 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $83,150 related
    Filer's total
    not reported + $305,150 related

  • John Russell Beekman

    Vice President

    Total calculated
    $158,048
    From this org
    $117,543
    From related orgs
    $0
    Other
    $40,505
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $117,543
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $40,505
    Filer's total
    $158,048

  • 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

  • 1a · First-class or charter travel
  • 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 I, Line 1a: Relevant information in regards to selections on 1a.
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

  • Julie Davis Clayton Trust

    T · Charitable Remainder Trust · TX

    Directly controlled by Clayton Foundation for Reaearch

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202513219349307506

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

The source document this was parsed from is served over the API, which is where bulk and document access live.