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Nonprofiteer
← CEDARS SINAI INTELLECTUAL PROPERTY COMPANY

Form 990 for tax year 2023

Filed by CEDARS SINAI INTELLECTUAL PROPERTY COMPANY.

Totals

Total revenue
$12,258,610
Total expenses
$12,317,801
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
-$2,105,235
Other revenue
$14,363,845
Total assets, end of year
$149,685,069
Total liabilities, end of year
$6,380,978
Net assets or fund balances, end of year
$143,304,091
Program services expenses (Part IX)
$11,969,617
Management and general expenses
$348,184
Fundraising expenses
$0
Program service expenses (Part III)
$11,969,617

Program services were 97.2% 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 $239,361 · excluded $239,361

  • 5 · Royalties

    total $14,363,845 · excluded $14,363,845

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

    other assets $2,344,596

  • 7c · Gain or loss

    other assets -$2,344,596

  • 7d · Net gain or loss

    total -$2,344,596 · excluded -$2,344,596

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $1,947,252 · program services $1,752,527 · management and general $194,725

  • 11b · Fees: legal

    total $2,595,502 · program services $2,555,421 · management and general $40,081

  • 11c · Fees: accounting

    total $21,067 · management and general $21,067

  • 11g · Fees: other

    total $75,733 · program services $68,160 · management and general $7,573

  • 12 · Advertising and promotion

    total $23,192 · management and general $23,192

  • 15 · Royalties

    total $3,589,298 · program services $3,589,298

  • 19 · Conferences, conventions and meetings

    total $29,209 · program services $17,525 · management and general $11,684

  • 24a · Other expenses: PASSTHROUGH INV LOSS

    total $3,981,586 · program services $3,981,586

  • 24b · Other expenses: LICENSE & TAXES

    total $31,250 · management and general $31,250

  • 24c · Other expenses: MISCELLANEOUS

    total $18,612 · management and general $18,612

  • 24d · Other expenses: BANK FEES

    total $5,100 · program services $5,100

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,044,080 · end of year $2,575,230

  • 13 · Investments: program-related

    beginning of year $108,342,740 · end of year $147,109,839

  • 15 · Other assets

    beginning of year $388,693 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,314,467 · end of year $4,792,637

  • 25 · Other liabilities

    beginning of year $206,494 · end of year $1,588,341

  • 27 · Net assets without donor restrictions

    beginning of year $120,254,552 · end of year $143,304,091

Mission and programs · 2023

Mission

CEDARS SINAI INTELLECTUAL PROPERTY COMPANY ("CSIP") IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES. CSIP'S SPECIFIC PURPOSE IS TO SUPPORT AND BENEFIT CEDARS-SINAI MEDICAL CENTER ("CSMC") THROUGH(SEE SCHEDULE O FOR CONTINUATION)(CONTINUED)THE MANAGEMENT AND LICENSING OF INTELLECTUAL PROPERTY ASSETS DERIVED FROM CSMC'S RESEARCH ACTIVITIES INCLUDING DEVELOPMENT OF EARLY-STAGE COMPANIES THAT LICENSE AND DEVELOP CSMC INTELLECTUAL PROPERTY.

Activities or mission (Part I)

TO SUPPORT CEDARS-SINAI MEDICAL CENTER THROUGH MANAGEMENT OF ITS INTELLECTUAL PROPERTY.

  • CSIP IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. CSIP'S PROGRAM SERVICES INCLUDE THE FOLLOWING ACTIVITIES:1) EDUCATE THE FACULTY AND RESEARCH STAFF AT CSMC ABOUT THE BASIC PRINCIPLES OF INTELLECTUAL PROPERTY PROTECTION;2) CAPTURE NEW TECHNOLOGIES AND DISCOVERIES MADE AT CSMC, AND SECURE THE APPROPRIATE INTELLECTUAL PROPERTY PROTECTION FOR THE TECHNOLOGIES AND DISCOVERIES;(CONTINUED ON SCHEDULE O)(CONTINUED)3) EVALUATE THE POTENTIAL OF THE TECHNOLOGIES AND DISCOVERIES FOR FURTHER DEVELOPMENT INTO PRODUCTS AND SERVICES THAT COULD HAVE A POSITIVE IMPACT ON ILLNESS OR DISEASE, UNMET HEALTH NEEDS, OR HEALTH CARE DELIVERY;4) SUPPORT FURTHER DEVELOPMENT OF THE TECHNOLOGY TO CREATE THE POTENTIAL FOR IT TO BECOME A PRODUCT OR SERVICE BENEFITING THE COMMUNITY AS A WHOLE; 5) DEVELOP AND MAINTAIN A NETWORK OF RESEARCHERS AND TECHNOLOGY PROFESSIONALS IN ACADEMIC INSTITUTIONS AND INDUSTRY THAT CAN COLLABORATE TO SUPPORT EARLY-STAGE DISCOVERIES MADE THROUGH CSMC BIOMEDICAL RESEARCH; 6) IDENTIFY COMMERCIAL PARTNERS TO LICENSE THE INTELLECTUAL PROPERTY OR SUPPORT THE DEVELOPMENT OF THE TECHNOLOGY BY NEW COMPANIES CREATED FOR THAT PURPOSE;7) ADVISE AND INVEST IN EARLY-STAGE COMPANIES THAT LICENSE THE INTELLECTUAL PROPERTY OR PARTNER WITH CSMC TO DEVELOP THE TECHNOLOGY; AND,8) MANAGE THE RELATIONSHIPS WITH LICENSEES, AND COMPANIES IN CSIP'S INVESTMENT PORTFOLIO.

    Expenses $11,969,617

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Shlomo Melmed

    DIRECTOR

    Total calculated
    $4,249,450
    From this org
    $0
    From related orgs
    $3,647,188
    Other
    $602,262
    Hours/week
    1 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,475,120 related
    Bonus
    $0 + $1,423,165 related
    Other
    $0 + $748,903 related
    Deferred
    $0 + $583,900 related
    Nontaxable benefits
    $0 + $18,362 related
    Filer's total
    $0 + $4,249,450 related

  • Edward M Prunchunas

    DIRECTOR

    Total calculated
    $1,698,851
    From this org
    $0
    From related orgs
    $1,424,344
    Other
    $274,507
    Hours/week
    1 + 19 related

    Schedule J breakdown matched by us

    Base
    $0 + $337,638 related
    Bonus
    $0 + $1,000,000 related
    Other
    $0 + $86,706 related
    Deferred
    $0 + $263,975 related
    Nontaxable benefits
    $0 + $10,532 related
    Filer's total
    $0 + $1,698,851 related

  • David M Wrigley

    TREASURER AND DIRECTOR

    Total calculated
    $3,198,667
    From this org
    $0
    From related orgs
    $2,858,771
    Other
    $339,896
    Hours/week
    1 + 65 related

    Schedule J breakdown matched by us

    Base
    $0 + $969,498 related
    Bonus
    $0 + $1,107,948 related
    Other
    $0 + $781,325 related
    Deferred
    $0 + $314,509 related
    Nontaxable benefits
    $0 + $25,387 related
    Filer's total
    $0 + $3,198,667 related

  • James D Laur

    PRESIDENT AND DIRECTOR

    Total calculated
    $1,529,103
    From this org
    $0
    From related orgs
    $1,333,870
    Other
    $195,233
    Hours/week
    17 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $718,342 related
    Bonus
    $0 + $257,788 related
    Other
    $0 + $357,740 related
    Deferred
    $0 + $179,958 related
    Nontaxable benefits
    $0 + $15,275 related
    Filer's total
    $0 + $1,529,103 related

  • Pamela Collingwood

    SECRETARY

    Total calculated
    $474,447
    From this org
    $0
    From related orgs
    $406,806
    Other
    $67,641
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $0 + $343,558 related
    Bonus
    $0 + $51,214 related
    Other
    $0 + $12,034 related
    Deferred
    $0 + $51,708 related
    Nontaxable benefits
    $0 + $15,933 related
    Filer's total
    $0 + $474,447 related

  • Eric See

    SECRETARY

    Total calculated
    $267,313
    From this org
    $0
    From related orgs
    $235,067
    Other
    $32,246
    Hours/week
    26 + 14 related

    Schedule J breakdown matched by us

    Base
    $0 + $196,153 related
    Bonus
    $0 + $32,494 related
    Other
    $0 + $6,420 related
    Deferred
    $0 + $23,202 related
    Nontaxable benefits
    $0 + $9,044 related
    Filer's total
    $0 + $267,313 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 4B:
THERE ARE TWO NONQUALIFIED DEFERRED COMPENSATION PLANS IN WHICH ONE OR MORE OF THE LISTED PERSONS PARTICIPATE. THE FIRST PLAN IS A DEFERRED COMPENSATION PLAN. THIS IS A "GRANDFATHERED" TRADITIONAL DEFINED BENEFIT PLAN (NO NEW PARTICIPANTS HAVE BEEN ADDED SINCE 1986). THE BENEFIT FORMULA IS A PERCENTAGE OF THE HIGHEST FIVE YEARS AVERAGE ANNUAL SALARY TIMES THE NUMBER OF YEARS OF ELIGIBLE SERVICE, WITH A MAXIMUM CREDITED SERVICE OF 30 YEARS. THE SECOND PLAN IS A SUPPLEMENTAL RETIREMENT ALLOWANCE THAT IS PAYABLE DIRECTLY TO THE PARTICIPANTS EACH QUARTER. THE BENEFIT FORMULA FOR THIS PLAN HAS ANNUAL CONTRIBUTIONS THAT ARE EITHER A PERCENTAGE OF SALARY, OR ARE DESIGNED TO FUND A PERCENTAGE OF THE ESTIMATED FINAL 5-YEAR AVERAGE SALARY. CERTAIN INDIVIDUALS ALSO RECEIVED PAYOUTS FROM AMOUNTS ACCRUED IN PRIOR YEARS. IN ADDITION, THREE INDIVIDUALS HAVE RETENTION INCENTIVES WHICH HAD CLIFF-VESTING DATES DURING CALENDAR YEAR 2023. THE FOLLOWING OFFICERS AND DIRECTORS RECEIVED PAYMENTS BELOW DURING THE YEAR ENDED DECEMBER 31, 2023. THESE PAYMENTS ARE INCLUDED IN SCHEDULE J, PART II AND ARE NOT INCREMENTAL PAYMENTS. PAMELA COLLINGWOOD 11,734 JAMES D. LAUR 306,368 SHLOMO MELMED 716,931 EDWARD M. PRUNCHUNAS 77,282 ERIC SEE 6,284 DAVID M. WRIGLEY 780,160

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

No itemized grants to organizations 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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CORONET VENTURES (JERSEY) PTE LLC

    HOLDING COMPANY · JE · income $0 · assets $1,077,269

    Directly controlled by CEDARS SINAI INTELLECTUAL PROPERTY COMPANY

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ENDOSCOPY CENTER OF SANTA MONICA LLC

    ENDOSCOPIES AND THE RELATED PROCEDURES · CA

  • ISS ASC HOLDINGS LLC

    INVESTMENT IN HEALTHCARE SERVICES · CA

  • INTERNATIONAL SPINE & ORTHOPEDIC INSTITUTE LLC

    SPINE AND ORTHOPEDIC INSTITUTE · DE

  • SANTA MONICA IMAGING GROUP LLC

    IMAGING CENTER · CA

  • CS-BH ASC HOLDINGS LLC

    HOLDING COMPANY · CA

  • TORRANCE MEMORIAL SURGICAL CENTER LLC I

    OUTPATIENT SURGICAL SERVICES · CA

  • 3565 DEL AMO ASSOCIATES A CALIFORNIA LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · CA

  • 90210 ASC VENTURE LLC

    AMBULATORY SURGERY CENTER · CA

  • HUNTINGTON AMBULATORY SURGERY CENTER LLC

    AMBULATORY SURGERY CENTER · CA

  • ABCENTRA LLC

    RESEARCH AND DEVELOPMENT · DE

  • TIA-CEDARS MANAGEMENT SERVICES ORGANIZATION LLC

    INVESTMENT IN HEALTHCARE SERVICES · CA

  • K HEALTH-CEDARS MANAGEMENT SERVICES ORGANIZATION LLC

    HEALTHCARE MANAGEMENT SERVICES · CA

  • PASADENA ASC VENTURE LLC

    HOLDING COMPANY FOR AMBULATORY SURGERY CENTERS · CA

Related corporations and trusts

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

  • OPTIMATRIX HEALTH SOLUTIONS INC

    C · INACTIVE · CA · controlled entity

  • OTOHARMONICS CORPORATION

    C · INACTIVE · DE · controlled entity

  • GRAVIDAS DIAGNOSTICS INC

    C · MEDICAL EQUIPMENT AND SUPPLIES MANUFACTURING · DE · 90% owned · share of income $29,281 · share of assets $1,344,928 · controlled entity

    Directly controlled by CEDARS SINAI INTELLECTUAL PROPERTY CO

  • CONGRESS SERVICES CORPORATION

    C · MANAGEMENT SERVICES · CA · controlled entity

  • THIRD STREET INSURANCE COMPANY (SAC) LTD

    C · CAPTIVE INSURANCE · BD · controlled entity

  • LIQUID LOAN OPPORTUNITIES FUND LP

    C · INVESTMENTS · CJ · controlled entity

  • CORONET VENTURES (SINGAPORE) PTE LTD

    C · HEALTHCARE AND BIOMEDICAL INNOVATION INVESTMENTS · SN · 100% owned · share of assets $2,595,736 · controlled entity

    Directly controlled by CEDARS SINAI INTELLECTUAL PROPERTY CO

  • CEDARS-SINAI UK LTD

    C · CLINIC OPERATOR · UK · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
19 August 2025
IRS schema version
2023v6.0
Source object
202542319349301799

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