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← ARC RESEARCH INSTITUTE

Form 990 for tax year 2024

Filed by ARC RESEARCH INSTITUTE.

Totals

Total revenue
$122,280,682
Total expenses
$82,781,856
Contributions and grants received
$120,446,690
Grants paid
$11,262,833
Program service revenue
$166,647
Investment income
$1,667,345
Other revenue
$0
Total assets, end of year
$184,388,461
Total liabilities, end of year
$83,668,141
Net assets or fund balances, end of year
$100,720,320
Program services expenses (Part IX)
$64,083,480
Management and general expenses
$18,698,376
Fundraising expenses
$0
Program service expenses (Part III)
$64,083,480

Program services were 77.4% 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.

  • 1f · All other contributions, gifts and grants

    $120,446,690

  • 2a · Program service revenue: Sponsored Research

    total $166,647 · related or exempt $166,647

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $1,667,345 · excluded $1,667,345

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8c · Net income from fundraising events

    total $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.

  • 1 · Grants to domestic organizations and governments

    total $11,262,833 · program services $11,262,833

  • 5 · Compensation of officers, directors and key employees

    total $4,448,861 · program services $2,904,945 · management and general $1,543,916

  • 7 · Other salaries and wages

    total $15,997,400 · program services $10,445,724 · management and general $5,551,676

  • 8 · Pension plan contributions

    total $623,612 · program services $407,196 · management and general $216,416

  • 9 · Other employee benefits

    total $1,905,667 · program services $1,424,858 · management and general $480,809

  • 10 · Payroll taxes

    total $1,253,927 · program services $895,434 · management and general $358,493

  • 11a · Fees: management

    total $168,577 · program services $151,719 · management and general $16,858

  • 11b · Fees: legal

    total $1,099,139 · program services $209,966 · management and general $889,173

  • 11c · Fees: accounting

    total $73,383 · management and general $73,383

  • 11g · Fees: other

    total $2,754,051 · program services $372,626 · management and general $2,381,425 · fundraising $0

  • 12 · Advertising and promotion

    total $38,938 · program services $3,910 · management and general $35,028

  • 13 · Office expenses

    total $915,719 · program services $403,476 · management and general $512,243

  • 16 · Occupancy

    total $15,373,698 · program services $13,849,690 · management and general $1,524,008

  • 17 · Travel

    total $580,682 · program services $379,155 · management and general $201,527

  • 19 · Conferences, conventions and meetings

    total $276,916 · program services $43,811 · management and general $233,105

  • 22 · Depreciation, depletion and amortization

    total $10,104,678 · program services $7,126,564 · management and general $2,978,114

  • 23 · Insurance

    total $87,263 · management and general $87,263

  • 24a · Other expenses: Lab expenses

    total $10,235,600 · program services $10,133,676 · management and general $101,924

  • 24b · Other expenses: Subscriptions

    total $2,158,958 · program services $1,486,550 · management and general $672,408

  • 24c · Other expenses: Student Expenses

    total $1,660,551 · program services $1,660,551

  • 24d · Other expenses: Health and safety expenses

    total $164,638 · program services $164,638

  • 24e · All other expenses

    total $1,596,765 · program services $756,158 · management and general $840,607 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,091,658 · end of year $7,617,326

  • 2 · Savings and temporary cash investments

    beginning of year $618,831 · end of year $35,705,534

  • 4 · Accounts receivable

    beginning of year $6,564 · end of year $238,439

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,232,853 · end of year $2,931,957

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

    $105,098,012

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

    $18,721,055

  • 10c · Land, buildings and equipment, net

    beginning of year $90,883,127 · end of year $86,376,957

  • 12 · Investments: other securities

    beginning of year $1,000,000 · end of year $1,000,000

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $57,865,163 · end of year $50,518,248

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,494,900 · end of year $10,583,375

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $16,080,816 · end of year $14,444,510

  • 25 · Other liabilities

    beginning of year $66,238,464 · end of year $58,640,256

  • 27 · Net assets without donor restrictions

    beginning of year $61,884,016 · end of year $100,720,320

Mission and programs · 2024

Mission

Our mission is to accelerate scientific progress, understand the root causes of disease, and narrow the gap between discoveries and impact on patients.

Activities or mission (Part I)

Our mission is to accelerate scientific progress and understand the root causes of complex diseases. This challenge requires researchers across many disciplines to study fundamental biological mechanisms, develop new technologies, and innovate on therapeutic concepts. By doing this, we aim to improve human health by narrowing the gap between discoveries and impact on patients.

  • - Core Investigators (which include the following labs) are provided with no-strings-attached, multi-year funding as well as cutting-edge scientific and infrastructure support to enable high-risk, high-reward science. They are innovative pioneers enabled to pursue their very best ideas. The Gilbert lab has an expertise in synthetic biology, functional genomics and cancer biology. We build CRISPR epigenetic editing tools to turn genes on and off and to perturb gene regulatory elements. We are developing CRISPR functional genomics approaches to map individual genes or sets of genes that regulate phenotypes of interest in vitro and in vivo. We are focused on utilizing our expertise to tackle big problems in deadly human cancers such as metastasis and drug resistance. The Hsu Lab works at the intersection of synthetic biology and genomics to invent new biotechnologies for improving human health. The Konermann lab develops and applies next-generation functional genomics to understand the cellular and molecular pathways underlying the neuronal system and neurodegenerative disease, with the long-term goal of developing rationally targeted therapeutics for neurodegenerative disorders. The Li Lab combines chemistry, biochemistry, immunology, and physiology to uncover basic mechanisms in innate immunity and, in parallel, develop therapeutic hypotheses and lead molecules. Innate immune pathways as the first line of defense against pathogens present many exciting opportunities for scientists from many disciplines. These pathways are a rich source of novel chemistry: they involve diverse molecular patterns in pathogens, little-explored second messengers, and drugs with poorly understood mechanism. Activation of innate immunity is a proven therapeutic strategy for vaccination, viral infection, and cancer, while inhibition is a strategy for treating autoimmune diseases and neurodegeneration. To date, however, most modulators of innate immunity are broad, non-specific, and poorly characterized, such as killed bacteria, alum crystals, and steroids. The Li lab seeks to improve understanding of these pathways and facilitate the development of more precise drugs for preventing or treating specific diseases. The Horns Lab creates and uses new technologies to understand and manipulate cells. We aim to discover the fundamental principles governing how cells and tissues operate, and to harness these insights to improve human health. Our work unites molecular engineering, synthetic biology, and genomics to answer questions and solve problems in immunology, neuroscience, cancer, and aging. The Goodarzi Lab combines modern experimental and computational technologies to understand complex human diseases at a molecular level. We are predominantly focused on metastatic progression in multiple cancers and neurodegenerative diseases as the biggest challenges to human health in the 21st century. - Technology Development Centers As biomedical research has become more advanced, it has become more dependent on complicated tooling that is difficult or impossible for any single lab to pursue today. Arc Technology Centers are focused on advancing and distributing key biomedical technologies within the institute that require high capital scale, targeted expertise, and systematic innovation. Our Technology Centers provide long-term career options for Arc scientists beyond their training period. By enabling competitive compensation relative to the biotech and tech industries (such as for research scientists and computer programmers), our goal is to expand the ecosystem of available career paths in research and maintain continuity in critical technical know-how. We have 5 staffed Technology Centers focused on 1. Cellular Models 2. Genome Engineering 3. Mammalian Models 4. Multi-omics 5. Computational biology - Translational Programs Making an impact on complex diseases requires new fundamental biological insights into disease mechanisms and new technologies that can target rational therapeutic pathways at the right place and time in the body. In addition to curiosity-driven knowledge building, producing medically useful discoveries is a core mission of Arc. Arc will build translational infrastructure to support the distribution of new biological insights and biotechnologies into the clinical environment. This branch of the institute will be dedicated to reducing the friction of transferring academic research into for-profit spin-outs. This includes a streamlined IP licensing process, funding support, and an advisory network of drug development and domain experts. We will also create focused, entrepreneurial teams dedicated to testing specific ideas, such as a new gene target or effector molecule, within the institute. Our goal is to empower Arc scientists, engineers, and inventors to accelerate their work into impact on patients.

    Expenses $64,083,480 · Grants $11,262,833 · Revenue $166,647

As filed on the 2024 return.

Listed in Part VII

  • Nathaniel Friedman

    Director

    Total calculated
    $36,000
    From this org
    $36,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Reid Hoffman

    Director

    Total calculated
    $36,000
    From this org
    $36,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Susan Li

    Director

    Total calculated
    $36,000
    From this org
    $36,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Alden J Woodrow

    CHIEF OPERATING OFFICER

    Total calculated
    $1,216,916
    From this org
    $1,141,800
    From related orgs
    $0
    Other
    $75,116
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $380,749
    Bonus
    $720,000
    Other
    $41,051
    Deferred
    $17,000
    Nontaxable benefits
    $58,116
    Filer's total
    $1,216,916

  • Daniel P Dever PhD

    Head of Scientific Operations (until 1/26/24)

    Total calculated
    $68,758
    From this org
    $62,998
    From related orgs
    $0
    Other
    $5,760
    Hours/week
    40

  • Dave Burke

    Chief Technology Officer (as of 10/31/2024)

    Total calculated
    $76,113
    From this org
    $65,712
    From related orgs
    $0
    Other
    $10,401
    Hours/week
    40

  • Julia M Kazaks

    GENERAL COUNSEL/ SECRETARY

    Total calculated
    $549,867
    From this org
    $478,739
    From related orgs
    $0
    Other
    $71,128
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $334,663
    Bonus
    $143,000
    Other
    $1,076
    Deferred
    $17,250
    Nontaxable benefits
    $53,878
    Filer's total
    $549,867

  • Lynn M Hendrickson

    UNIVERSITY RELATIONS & ACADEMIC AFFAIRS/ COMPLIANCE OFFICER

    Total calculated
    $418,815
    From this org
    $344,044
    From related orgs
    $0
    Other
    $74,771
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $267,311
    Bonus
    $75,630
    Other
    $1,103
    Deferred
    $14,420
    Nontaxable benefits
    $60,351
    Filer's total
    $418,815

  • Michael K Teng

    HEAD OF FINANCE/ TREASURER (AS OF 7/01/2024)

    Total calculated
    $188,117
    From this org
    $151,006
    From related orgs
    $0
    Other
    $37,111
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,482
    Bonus
    $400
    Other
    $124
    Deferred
    $7,693
    Nontaxable benefits
    $29,418
    Filer's total
    $188,117

  • Nicolle D Seuss

    Senior Operations Program Manager

    Total calculated
    $342,440
    From this org
    $290,334
    From related orgs
    $0
    Other
    $52,106
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,962
    Bonus
    $51,990
    Other
    $1,382
    Deferred
    $14,815
    Nontaxable benefits
    $37,291
    Filer's total
    $342,440

  • Patrick D Hsu PhD

    Core Investigator/ Co-Founder

    Total calculated
    $528,636
    From this org
    $489,195
    From related orgs
    $0
    Other
    $39,441
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $464,075
    Bonus
    $4,043
    Other
    $21,077
    Deferred
    $17,250
    Nontaxable benefits
    $22,191
    Filer's total
    $528,636

  • Rose E Harris

    Finance (until 7/15/24)

    Total calculated
    $127,463
    From this org
    $127,201
    From related orgs
    $0
    Other
    $262
    Hours/week
    40

  • Silvana M Konermann PhD

    EXECUTIVE DIRECTOR/ PRESIDENT

    Total calculated
    $264,546
    From this org
    $245,574
    From related orgs
    $0
    Other
    $18,972
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,402
    Bonus
    $33,660
    Other
    $512
    Deferred
    $0
    Nontaxable benefits
    $18,972
    Filer's total
    $264,546

  • Susan T Cull

    SENIOR FINANCE MANAGER

    Total calculated
    $199,126
    From this org
    $189,233
    From related orgs
    $0
    Other
    $9,893
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,520
    Bonus
    $25,410
    Other
    $303
    Deferred
    $9,231
    Nontaxable benefits
    $662
    Filer's total
    $199,126

  • Therese A Costello

    Head of People

    Total calculated
    $360,064
    From this org
    $352,151
    From related orgs
    $0
    Other
    $7,913
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $291,449
    Bonus
    $57,600
    Other
    $3,102
    Deferred
    $6,204
    Nontaxable benefits
    $1,709
    Filer's total
    $360,064

  • Hani Goodarzi PHD

    CORE INVESTIGATOR

    Total calculated
    $320,564
    From this org
    $273,663
    From related orgs
    $0
    Other
    $46,901
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,107
    Bonus
    $28,167
    Other
    $20,389
    Deferred
    $10,108
    Nontaxable benefits
    $36,793
    Filer's total
    $320,564

  • Lingyin Li PHD

    Core Investigator

    Total calculated
    $357,806
    From this org
    $333,725
    From related orgs
    $0
    Other
    $24,081
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $255,752
    Bonus
    $76,400
    Other
    $1,573
    Deferred
    $2,677
    Nontaxable benefits
    $21,404
    Filer's total
    $357,806

  • Luke A Gilbert PHD

    CORE INVESTIGATOR

    Total calculated
    $294,537
    From this org
    $262,408
    From related orgs
    $0
    Other
    $32,129
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,502
    Bonus
    $0
    Other
    $16,906
    Deferred
    $13,067
    Nontaxable benefits
    $19,062
    Filer's total
    $294,537

  • Nianzhen Li PHD

    Senior Director, Multi-omics technology development

    Total calculated
    $400,042
    From this org
    $391,440
    From related orgs
    $0
    Other
    $8,602
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $291,705
    Bonus
    $98,180
    Other
    $1,555
    Deferred
    $6,702
    Nontaxable benefits
    $1,900
    Filer's total
    $400,042

  • Yusuf H Roohani PHD

    Group lead, machine learning

    Total calculated
    $444,771
    From this org
    $407,429
    From related orgs
    $0
    Other
    $37,342
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,440
    Bonus
    $295,900
    Other
    $89
    Deferred
    $4,950
    Nontaxable benefits
    $32,392
    Filer's total
    $444,771

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 · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Tax indemnification and gross-up payments
THE FOLLOWING INDIVIDUALS RECEIVED A TAXABLE GROSS-UP PAYMENT DURING 2024 (INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III): Alden Woodrow Julia Kazaks Nicolle Seuss Patrick Hsu, PHD Lynn Hendrickson Therese Costello Nianzhen Li, PHD Lingyin Li, PHD
Schedule J, Part I, Line 4a Severance or change-of-control payment
THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PAY DURING 2024 (INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III): DANIEL DEVER, PHD - $38,462
Schedule J, Part I, Line 7 Non-fixed payments
For each full year of employment with the Institute, individuals shall be eligible to earn an annual bonus of up to a percentage of their effective Base Salary ("Annual Bonus"), based half on their and half on the Institute's achievement of performance goals established in advance by the Board of Directors of the Institute ("Board") or its delegate and provided in writing, contingent on the individuals remaining actively employed with the Institute through the payment date of each Annual Bonus. The Annual Bonus will be prorated based on start date. The Annual Bonus, if any, will be earned and paid no later than two and a half months after the end of the fiscal year, at which point the Board (or its delegate) will also have determined goals for the then current fiscal year. All bonus payments shall be made less deductions and withholdings required by law or approved by the individuals. COO Bonus program: For each year of employment with the Institute, the COO shall be eligible to earn a discretionary bonus, on a semi-annual basis, in the target amount of 50% of their then effective Base Salary, based on: (a) the extent of their achievement against individual performance goals set for each semi-annual period, and (b) overall performance rating for that semi-annual period ("Individual Performance Bonus"). The goals for each bonus period will be mutually agreed upon between the COO and the Institute and provided in writing. In each semi-annual period, if the COO achieves the goals and receives a performance rating of "3 - Exemplary," they will be eligible for the target bonus amount (50% of Base Salary). If they achieve fewer than all goals or receive a performance rating of "2 - Success," they will be eligible for a partial bonus in an amount deemed appropriate for the level of performance. If they receive a performance rating of "1 - Missed Expectations," they will not be eligible for any bonus for the period. Decisions concerning performance ratings, whether they receive an Individual Performance Bonus in any semi-annual period, and the amount of any such bonus, shall be at the Institute's discretion. Each Individual Performance Bonus, if awarded, will be paid by April 30 or October 31, as applicable. Eligibility to receive any Individual Performance Bonus payment is contingent upon the COO remaining actively employed with the Institute through the scheduled payment date. All bonus payments will be made less deductions and withholdings required by law or approved by the COO.

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

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.

  • ARC MOBILITY LLC

    TRANSPORTATION · DE · income $0 · assets $0

    Directly controlled by ARC RESEARCH INSTITUTE

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.1
Source object
202513159349306771

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