Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $669,171

• 1f · All other contributions, gifts and grants

  $4,325

• 2a · Program service revenue: FEES FOR SERVICE

  total $16,730 · related or exempt $16,730

• 3 · Investment income

  total $79,695 · excluded $79,695

• 7a · Gross sales of assets other than inventory

  other assets $2,972,943

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

  other assets $2,991,992

• 7c · Gain or loss

  other assets -$19,049

• 7d · Net gain or loss

  total -$19,049 · unrelated business -$19,049

• 11a · Other revenue: OTHER INCOME

  total $1,136 · excluded $1,136

• 11e · Other revenue, total

  $1,136

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $1,605,448 · program services $1,586,987 · management and general $18,461

• 8 · Pension plan contributions

  total $24,661 · program services $24,661

• 9 · Other employee benefits

  total $16,117 · program services $16,117

• 10 · Payroll taxes

  total $77,226 · program services $76,149 · management and general $1,077

• 11c · Fees: accounting

  total $46,915 · program services $46,915

• 11g · Fees: other

  total $85,053 · program services $85,053

• 13 · Office expenses

  total $9,042 · program services $9,042

• 14 · Information technology

  total $11,620 · program services $11,620

• 16 · Occupancy

  total $79,387 · program services $79,387

• 17 · Travel

  total $5,139 · program services $5,139

• 22 · Depreciation, depletion and amortization

  total $1,403 · program services $1,403

• 23 · Insurance

  total $13,451 · program services $13,451

• 24a · Other expenses: CONSORTIUM AGREEMENT

  total $118,396 · program services $118,396

• 24b · Other expenses: REPAIRS & MAINTENANCE

  total $2,832 · program services $2,332 · management and general $500

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $159,258 · end of year $463,817

• 3 · Pledges and grants receivable

  beginning of year $88,720 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $21,166

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

  $223,347

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

  $222,507

• 10c · Land, buildings and equipment, net

  beginning of year $2,243 · end of year $840

• 12 · Investments: other securities

  beginning of year $1,591,445

• 15 · Other assets

  beginning of year $46,270 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $50,192 · end of year $12,891

• 18 · Grants payable

  beginning of year $14,799 · end of year $0

• 25 · Other liabilities

  beginning of year $47,663 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $1,796,448 · end of year $451,766

The filer's explanations (Part III)

PART I, LINE 4A

ON OCTOBER 27, 2023, THE BAY AREA TUMOR INSTITUTE'S BOARD OF DIRECTORS UNANIMOUSLY APPROVED THE DISSOLUTION OF THE ORGANIZATION AND ALL OF ITS ASSETS, TO TAKE PLACE ON OR ABOUT DECEMBER 31, 2024. THE TARGET DATES WERE SUBSEQUENTLY CHANGED TO APRIL 1, 2024 FOR TERMINATION OF THE CLINICAL RESEARCH PROGRAM AND JUNE 30, 2024 FOR ALL OTHER MATTERS. ALTHOUGH ALL OF THE DEFINED TASKS FOR WHICH THE RETENTION/SEVERANCE PAYMENTS WERE AGREED-UPON WERE COMPLETED PRIOR TO JUNE 30, 2024, UNEXPECTED DELAYS BY THE OFFICES OF THE CALIFORNIA SECRETARY OF STATE AND THE STATE ATTORNEY GENERAL, HAVING NOTHING TO DO WITH OUR DOCUMENTS, CREATED A CASCADE OF DELAYS THAT PREVENTED THE CLOSURE OF OUR CORPORATION UNTIL DECEMBER 2024. PREVIOUSLY, MANAGEMENT GAVE THE BOARD A DETAILED STATEMENT OF OPERATIONAL CLOSEOUT PROCEDURES AND REVIEWED THE COMPLEX NATURE OF THE CANCER RESEARCH PROGRAM, AND OF THE NEED FOR ALL STAFF TO CONTINUE THEIR EMPLOYMENT SO THAT THE INSTITUTE COULD FULFILL ITS LEGAL AND ETHICAL "PATIENT CONSENT" OBLIGATIONS TO ALL ADULT AND PEDIATRIC CANCER PATIENTS INVOLVED IN CLINICAL RESEARCH, THEIR TREATING PHYSICIANS, PARTICIPATING HOSPITALS, THE NATIONAL CANCER INSTITUTE, THE FDA AND OTHER INVOLVED FEDERAL AGENCIES. IN ORDER TO RETAIN ITS HIGHLY SKILLED AND LONG-DURATION EMPLOYEES, THE BOARD (COMPOSED OF ONCOLOGY PHYSICIANS, ONCOLOGY NURSES, AN ONCOLOGY SOCIAL WORKER, BUSINESS PROFESSIONALS, AN ATTORNEY AND MEMBERS OF THE NONMEDICAL PUBLIC), DISCUSSED THE NEED FOR A RETENTION AND SEVERANCE POLICY FOR THE PROFESSIONAL STAFF WITHOUT WHOM THE RESEARCH COULD NOT BE ETHICALLY TERMINATED. THE BOARD, IN EXECUTIVE SESSION WITHOUT STAFF PRESENT, REVIEWED NUMEROUS RETENTION/SEVERANCE DOCUMENTS FROM HUMAN RESOURCE PROFESSIONAL ASSOCIATIONS THAT DESCRIBED CURRENT"BEST PRACTICE" STANDARDS IN THE NONPROFIT FIELD (STANDARDS RANGED BETWEEN 1-4 WEEKS OF SEVERANCE PER YEAR OF EMPLOYMENT), AND THE BOARD CHOSE TO REMAIN IN THE LOWER HALF OF THAT RANGE. CONSISTENT WITH THIS RESEARCH, THE BOARD DESIGNED AND APPROVED A NONDISCRIMINATORY RETENTION/SEVERANCE PLAN, SIGNED BY EACH EMPLOYEE, THAT AWARDED 2 WEEKS OF SALARY FOR EVERY YEAR OF EMPLOYMENT FOR THOSE WHO STAYED AND COMPLETED THEIR AGREED-UPON RESPONSIBILITIES. THE EXPENSE OF THE TOTAL PACKAGE WAS APPROXIMATELY $755,000 AND WAS UNANIMOUSLY APPROVED BY THE BOARD. NO FEDERAL FUNDS WERE USED TO PAY FOR THIS PURPOSE. FOLLOWING ARE DETAILS OF THE SEVERANCE PAYMENTS INCLUDED IN SCH J, PART II, B (III)OTHER REPORTABLE COMPENSATION: BARRY B. SIEGEL, PRESIDENT: 2024 GROSS SEVERANCE PAYMENT WAS $451,922 SHARON M.OMEGA,DIRECTOR CLINICAL RESEARCH: 2024 GROSS SEVERANCE PAYMENT WAS $123,360 JOANNE V. HEATH, CLINICAL RESEARCH ASSOCIATE: 2024 GROSS SEVERANCE PAYMENT WAS $114,143 JENNIFER KIM-HASSEL, CLINICAL RESEARCH ASSOCIATE: 2024 GROSS SEVARANCE PAYMENT IS $19,423 MELODY J. CHIN, CLINICAL RESEARCH ASSOCIATE: 2024 GROSS SEVERANCE PAYMENT WAS $28,808 LEAH E. RADKE, ADMIN SECRETARY: 2024 GROSS SEVERANCE PAYMENT WAS $4,688 FORM 990,SCH J, PART II (B)(I)BASE COMPENSATION: THE BASE COMPENSATION INCLUDED IN THE ABOVE SCHEDULE J CONSISTS OF EACH EMPLOYEES REGULAR COMPENSATION FROM CALENDAR YEAR 2023 FORM W-2 (FROM 01/01/23 THROUGH 12/31/23) PLUS REGULAR COMPENSATION FOR THE PERIOD FROM 01/01/2024 THROUGH 08/31/2024. SO, A TOTAL 20 MONTHS OF COMPENSATION INCLUDED IN THE ABOVE BASE COMPENSATION BOX.