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← The Welch Institute

Form 990 for tax year 2023

Filed by The Welch Institute.

Totals

Total revenue
$0
Total expenses
$0
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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.

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Misc prof fees

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $14,485,109 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $14,485,109 · end of year $0

Mission and programs · 2023

Mission

The Institute is organized and shall be operated exclusively for charitable purposes within the meaning of section 501(c)(3) of the Internal Revenue Code (the "Code"), and is organized and shall be operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of Rice University and its affiliated organizations that are exempt from taxation under section 501(c)(3) of the Code, and classified as other than a private foundation under the Code. In accomplishment of such purposes, The Institute will: seek to advance the science and learning concerning, and development of, advanced materials; seek to solve fundamental challenges in the field of advanced materials; seek to accelerate the application of new knowledge concerning advanced materials to global challenges; and seek to provide educational opportunities for students and scientists to broaden their understanding of the field of chemistry generally and advanced materials in particular.

Activities or mission (Part I)

The mission of The Welch Institute ("The Institute") is to leverage and integrate the knowledge, expertise and resources of William Marsh Rice University ("Rice University") and The Robert A. Welch Foundation ("Welch Foundation") in the discipline of chemistry, and chemistry-related endeavors in the disciplines of physics, engineering, artificial intelligence and data science, in each case, to establish a world-leading advanced materials research organization.

  • The Institute is designed to leverage and integrate the knowledge, expertise and resources of Rice University and Welch Foundation in the discipline of chemistry and chemistry-related endeavors to establish a world-leading advanced materials research organization.

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

Listed in Part VII

  • Gina Luna

    Executive Director, Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Adam Kuspa

    Director

    Total calculated
    $0
    Hours/week
    1

  • Albert Chao

    Director

    Total calculated
    $0
    Hours/week
    1

  • Alexander Karsner

    Director

    Total calculated
    $0
    Hours/week
    1

  • Amy Dittmar

    Director

    Total calculated
    $902,944
    From this org
    $0
    From related orgs
    $778,259
    Other
    $124,685
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $698,259 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $30,000 related
    Deferred
    $0 + $99,823 related
    Nontaxable benefits
    $0 + $24,862 related
    Filer's total
    $0 + $902,944 related

  • Carin Barth

    Vice-Chair of the Board, Director

    Total calculated
    $0
    Hours/week
    1

  • Charles Blankenship

    Director

    Total calculated
    $0
    Hours/week
    1

  • James T Hackett

    Chair of the Board, Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Reginald Desroches

    Director

    Total calculated
    $1,655,827
    From this org
    $0
    From related orgs
    $1,286,186
    Other
    $369,641
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $933,686 related
    Bonus
    $0 + $300,000 related
    Other
    $0 + $52,500 related
    Deferred
    $0 + $106,490 related
    Nontaxable benefits
    $0 + $263,151 related
    Filer's total
    $0 + $1,655,827 related

  • Kelly Fox

    Assistant Treasurer

    Total calculated
    $835,021
    From this org
    $0
    From related orgs
    $711,093
    Other
    $123,928
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $578,593 related
    Bonus
    $0 + $80,000 related
    Other
    $0 + $52,500 related
    Deferred
    $0 + $82,323 related
    Nontaxable benefits
    $0 + $41,605 related
    Filer's total
    $0 + $835,021 related

  • Omar Syed

    Secretary

    Total calculated
    $541,686
    From this org
    $0
    From related orgs
    $490,215
    Other
    $51,471
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $440,515 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $19,700 related
    Deferred
    $0 + $49,090 related
    Nontaxable benefits
    $0 + $2,381 related
    Filer's total
    $0 + $541,686 related

  • Veta Byrd-Perez

    Assistant Secretary

    Total calculated
    $317,410
    From this org
    $0
    From related orgs
    $248,498
    Other
    $68,912
    Hours/week
    1 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,498 related
    Bonus
    $0 + $7,000 related
    Other
    $0 + $30,000 related
    Deferred
    $0 + $28,939 related
    Nontaxable benefits
    $0 + $39,973 related
    Filer's total
    $0 + $317,410 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
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE FOLLOWING OFFICER(S), DIRECTOR(S), TRUSTEE(S), KEY EMPLOYEE(S) AND/OR HIGHEST COMPENSATED EMPLOYEES PARTICIPATED IN OR RECEIVED PAYMENT FROM A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN CALENDAR YEAR 2023, SUBJECT TO SATISFYING VESTING CONDITIONS RELATED TO CONTINUING SERVICE TO THE UNIVERSITY. AWARD AMOUNTS THAT MAY OR MAY NOT HAVE VESTED ARE SHOWN BELOW. AMOUNTS THAT BECAME TAXABLE DURING THE YEAR DUE TO VESTING OR DISTRIBUTION ARE INCLUDED IN PART II, COLUMN B (III). ACCRUALS FOR AWARDS THAT HAVE NOT VESTED ARE INCLUDED IN THE AMOUNTS SHOWN IN PART II, COLUMN C. REGINALD DESROCHES: $200,000 CURRENT YEAR AWARD; $65,000 ACCRUAL FOR AWARDS NOT YET VESTED. AMY DITTMAR: $100,000 CURRENT YEAR AWARD; $58,333 ACCRUAL FOR AWARDS NOT YET VESTED. OMAR SYED: $30,000 CURRENT YEAR AWARD; $17,500 ACCRUAL FOR AWARDS NOT YET VESTED.
Schedule J, Part I, Line 7 Non-fixed payments
CONTRACTS OF CERTAIN INDIVIDUALS INCLUDE PROVISIONS THAT ALLOW THEM TO RECEIVE ADDITIONAL COMPENSATION IF SPECIFIC CRITERIA OR CIRCUMSTANCES ARE MET OR PERFORMANCE THRESHOLDS ARE ACHIEVED. PAYMENTS WERE MADE UNDER SUCH CONTRACTS IN CALENDAR YEAR 2023 TO REGINALD DESROCHES. ADDITIONALLY, AS NOTED IN PART II OF SCHEDULE J, DISCRETIONARY BONUSES WERE PROVIDED TO OTHERS BASED ON MANAGEMENT'S ASSESSMENT OF THEIR PERFORMANCE.

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

1 distribution to a recipient named as a person, $14,485,109. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202511339349305086

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

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