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Nonprofiteer
← STOWERS RESOURCE MANAGEMENT INC

Form 990 for tax year 2022

Filed by STOWERS RESOURCE MANAGEMENT INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 26 April 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$145,680,496 changed to $20,963,626
Total expenses
$90,235,049 changed to $68,679,277
Contributions and grants received
$1,327,509 changed to $1,179,772
Grants paid
$43,020,500 changed to $44,067,843
Program service revenue
$34,479,093 changed to $17,270,334
Investment income
$109,843,532 changed to $2,498,256
Other revenue
$30,362 changed to $15,264
Total assets, end of year
$1,809,838,380 changed to $1,754,575,141
Total liabilities, end of year
$298,067,990 changed to $296,515,132
Net assets or fund balances, end of year
$1,511,770,390 changed to $1,458,060,009
Program services expenses
$83,455,306 changed to $64,803,028
Management and general expenses
$6,330,466 changed to $3,645,857
Fundraising expenses
$449,277 changed to $230,392
Program service expenses (Part III)
$83,455,306 changed to $64,803,028

Listed only on the earlier return

  • Jennifer H Pawlosky
  • Kim Chee
  • Michael Newhouse
  • Patrick Mitchell Jr
  • Timothy J Geary

Listed only on the later return

  • Kausik Si

Listed under a different title

  • Brent Kreider: COO THRU 3/31/22/DIRECTOR then DIRECTOR
  • George L Satterlee: DIR. AS OF 1/1/22 /EVP/HR then DIRECTOR /EVP/HR

Totals

Total revenue
$145,680,496
Total expenses
$90,235,049
Contributions and grants received
$1,327,509
Grants paid
$43,020,500
Program service revenue
$34,479,093
Investment income
$109,843,532
Other revenue
$30,362
Total assets, end of year
$1,809,838,380
Total liabilities, end of year
$298,067,990
Net assets or fund balances, end of year
$1,511,770,390
Program services expenses (Part IX)
$83,455,306
Management and general expenses
$6,330,466
Fundraising expenses
$449,277
Program service expenses (Part III)
$83,455,306

Program services were 92.5% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $1,327,509

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: REIMB. FROM SIMR, RELATED 501(C)(3)

    total $33,894,765 · related or exempt $33,894,765 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: REIMB. FROM BVD, RELATED C CORP

    total $533,248 · related or exempt $533,248 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: REIMB. FROM GSSIMR, RELATED 501(C)(3)

    total $21,909 · related or exempt $21,909 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: REIMB. FROM SPI, RELATED 501(C)(4)

    total $29,171 · related or exempt $29,171 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $111,848,494 · related or exempt $0 · unrelated business $0 · excluded $111,848,494

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $26,354

  • 6c · Rental income or loss

    real property $26,354 · personal property $0

  • 6d · Net rental income or loss

    total $26,354 · related or exempt $0 · unrelated business $0 · excluded $26,354

  • 7a · Gross sales of assets other than inventory

    securities $105,950,000 · other assets $63,906

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

    securities $107,994,991 · other assets $23,877

  • 7c · Gain or loss

    securities -$2,044,991 · other assets $40,029

  • 7d · Net gain or loss

    total -$2,004,962 · related or exempt $0 · unrelated business $0 · excluded -$2,004,962

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MISSOURI TIMELY FILING DISCOUNT

    total $4,008 · related or exempt $0 · unrelated business $0 · excluded $4,008

  • 11e · Other revenue, total

    $4,008

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $43,020,500 · program services $43,020,500

  • 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 $5,079,423 · program services $4,571,481 · management and general $457,148 · fundraising $50,794

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $13,061,096 · program services $11,754,986 · management and general $1,175,499 · fundraising $130,611

  • 8 · Pension plan contributions

    total $1,953,961 · program services $1,758,564 · management and general $175,856 · fundraising $19,541

  • 9 · Other employee benefits

    total $2,238,449 · program services $2,014,604 · management and general $201,460 · fundraising $22,385

  • 10 · Payroll taxes

    total $874,430 · program services $786,987 · management and general $78,699 · fundraising $8,744

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $952,886 · program services $0 · management and general $952,886 · fundraising $0

  • 11c · Fees: accounting

    total $337,393 · program services $0 · management and general $337,393 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $996,707 · program services $0 · management and general $996,707 · fundraising $0

  • 11g · Fees: other

    total $3,269,195 · program services $2,942,275 · management and general $294,228 · fundraising $32,692

  • 12 · Advertising and promotion

    total $155,457 · program services $139,910 · management and general $13,991 · fundraising $1,556

  • 13 · Office expenses

    total $314,251 · program services $282,826 · management and general $28,283 · fundraising $3,142

  • 14 · Information technology

    total $661,532 · program services $595,379 · management and general $59,538 · fundraising $6,615

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $4,089,300 · program services $3,680,370 · management and general $368,037 · fundraising $40,893

  • 17 · Travel

    total $232,761 · program services $209,486 · management and general $20,948 · fundraising $2,327

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $230,181 · program services $207,163 · management and general $20,716 · fundraising $2,302

  • 20 · Interest

    total $2,700,706 · program services $2,430,635 · management and general $243,064 · fundraising $27,007

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $2,725,350 · program services $2,452,815 · management and general $245,282 · fundraising $27,253

  • 23 · Insurance

    total $540,181 · program services $486,163 · management and general $48,616 · fundraising $5,402

  • 24a · Other expenses: Maintenance Expenses

    total $4,750,085 · program services $4,275,077 · management and general $427,508 · fundraising $47,500

  • 24b · Other expenses: Operation Supplies

    total $587,146 · program services $528,431 · management and general $52,843 · fundraising $5,872

  • 24c · Other expenses: Dues & Memberships

    total $588,760 · program services $529,884 · management and general $52,988 · fundraising $5,888

  • 24d · Other expenses: SEC. 4960 EXCISE TAX

    total $236,045 · program services $212,441 · management and general $21,244 · fundraising $2,360

  • 24e · All other expenses

    total $639,254 · program services $575,329 · management and general $57,532 · fundraising $6,393

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $926,542 · end of year $3,487,168

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end 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

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,369,774 · end of year $2,369,762

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

    $18,491,606

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

    $14,155,209

  • 10c · Land, buildings and equipment, net

    beginning of year $6,373,833 · end of year $4,336,397

  • 11 · Investments: publicly traded securities

    beginning of year $528,104,386 · end of year $553,464,856

  • 12 · Investments: other securities

    beginning of year $1,836,698,135 · end of year $1,226,612,683

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $10,624,595 · end of year $19,567,514

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,798,172 · end of year $7,381,752

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $290,000,000 · end of year $290,000,000

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $893,911 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $256,684 · end of year $686,238

  • 27 · Net assets without donor restrictions

    beginning of year $2,084,047,097 · end of year $1,509,141,460

  • 28 · Net assets with donor restrictions

    beginning of year $3,101,401 · end of year $2,628,930

Mission and programs · 2022

Mission

SEE SCHEDULE O

Activities or mission (Part I)

STOWERS RESOURCE MANAGEMENT ("SRM") SUPPORTS THE ACTIVITIES OF STOWERS INSTITUTE FOR MEDICAL RESEARCH ("SIMR") WHICH CONDUCTS BASIC CELL (CONTINUED ON SCHEDULE O)

  • FINANCIAL SUPPORT - SRM MONITORS THE FINANCIAL NEEDS OF SIMR SO SIMR CAN CONDUCT ITS MEDICAL RESEARCH IN THE PUBLIC INTEREST AND MAKES CONTRIBUTIONS TO SIMR TO SUPPORT ITS MEDICAL RESEARCH ACTIVITIES. THE CONTRIBUTIONS ARE MADE AS DETERMINED BY SRM'S BOARD OF DIRECTORS AFTER REVIEW OF FINANCIAL INFORMATION, BUDGETS, STRATEGIES AND OTHER RELEVANT INFORMATION. IN 2022, SRM PROVIDED $43,000,000 TO SIMR, A RELATED 501(C)(3) ORGANIZATION, FOR ENDOWMENT SUPPORT.

    Expenses $43,000,000 · Grants $43,000,000

  • MANAGEMENT, ADMINISTRATIVE AND OPERATION SUPPORT SERVICES - SRM PROVIDES MANAGEMENT SUPPORT TO SIMR THAT INVOLVES ASSISTING IN PLANNING FOR THE STRATEGIC DIRECTION OF SIMR, OPERATIONAL PLANNING, AND THE DEVELOPMENT AND IMPLEMENTATION OF STRATEGIC BUSINESS PLANS AND BUDGETS. SRM ALSO PROVIDES ADDITIONAL ADMINISTRATIVE AND OPERATIONAL SUPPORT SERVICES TO SIMR AND GSSIMR THAT INCLUDES ACCOUNTING, FINANCE, HUMAN RESOURCES, INFORMATION TECHNOLOGY, AND OTHER SUPPORT ACTIVITIES, FOR WHICH SRM ALLOCATED COSTS TO SIMR IN THE AMOUNT OF $33,894,765 IN 2022 AS REPORTED ON PART VIII STATEMENT OF REVENUE LINE 2A, WITH RELATED INFORMATION ON SCHEDULE O.

    Expenses $34,479,093 · Revenue $34,479,093

  • MANAGEMENT OF ENDOWMENT - SRM PARTICIPATES IN THE MANAGEMENT OF SIMR AND GSSIMR TO ENSURE THEIR FINANCIAL ABILITY TO CONTINUE IN PERPETUITY.

    Expenses $5,976,213 · Grants $20,500

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard W Brown

    DIR/CHAIR/PRES/CEO

    Total calculated
    $2,880,761
    From this org
    $2,813,862
    From related orgs
    $0
    Other
    $66,899
    Hours/week
    40 + 9 related

    Schedule J breakdown matched by us

    Base
    $2,771,091
    Bonus
    $0
    Other
    $42,771
    Deferred
    $45,750
    Nontaxable benefits
    $21,149
    Filer's total
    $2,880,761

  • Charles German

    DIRECTOR/EVP/GENERAL COUNSEL

    Total calculated
    $1,126,107
    From this org
    $1,059,057
    From related orgs
    $0
    Other
    $67,050
    Hours/week
    40 + 9 related

    Schedule J breakdown matched by us

    Base
    $1,040,079
    Bonus
    $0
    Other
    $18,978
    Deferred
    $45,750
    Nontaxable benefits
    $21,300
    Filer's total
    $1,126,107

  • Brent Kreider

    COO THRU 3/31/22/DIRECTOR

    Total calculated
    $784,976
    From this org
    $0
    From related orgs
    $712,540
    Other
    $72,436
    Hours/week
    2 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $702,298 related
    Bonus
    $0
    Other
    $0 + $10,242 related
    Deferred
    $0 + $45,750 related
    Nontaxable benefits
    $0 + $26,686 related
    Filer's total
    $0 + $784,976 related

  • Jennifer H Pawlosky

    COS/VP OF COMMUNICATIONS

    Total calculated
    $629,234
    From this org
    $553,447
    From related orgs
    $0
    Other
    $75,787
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $436,592
    Bonus
    $0
    Other
    $116,855
    Deferred
    $45,750
    Nontaxable benefits
    $30,037
    Filer's total
    $629,234

  • Penny M Spence

    EVP/CFO

    Total calculated
    $600,033
    From this org
    $537,787
    From related orgs
    $0
    Other
    $62,246
    Hours/week
    40 + 11 related

    Schedule J breakdown matched by us

    Base
    $537,007
    Bonus
    $0
    Other
    $780
    Deferred
    $45,750
    Nontaxable benefits
    $16,496
    Filer's total
    $600,033

  • George L Satterlee

    DIR. AS OF 1/1/22 /EVP/HR

    Total calculated
    $538,484
    From this org
    $471,260
    From related orgs
    $0
    Other
    $67,224
    Hours/week
    40 + 4 related

    Schedule J breakdown matched by us

    Base
    $467,828
    Bonus
    $0
    Other
    $3,432
    Deferred
    $45,750
    Nontaxable benefits
    $21,474
    Filer's total
    $538,484

  • Patrick Mitchell Jr

    VP OF HUMAN RESOURCES

    Total calculated
    $437,059
    From this org
    $362,772
    From related orgs
    $0
    Other
    $74,287
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $361,992
    Bonus
    $0
    Other
    $780
    Deferred
    $45,750
    Nontaxable benefits
    $28,537
    Filer's total
    $437,059

  • Kim Chee

    VP OF FINANCE

    Total calculated
    $362,516
    From this org
    $304,535
    From related orgs
    $0
    Other
    $57,981
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,299
    Bonus
    $0
    Other
    $2,236
    Deferred
    $45,577
    Nontaxable benefits
    $12,404
    Filer's total
    $362,516

  • Michael Newhouse

    DIR OF IT OPS THRU 7/29/22

    Total calculated
    $331,236
    From this org
    $291,122
    From related orgs
    $0
    Other
    $40,114
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,615
    Bonus
    $0
    Other
    $107,507
    Deferred
    $23,618
    Nontaxable benefits
    $16,496
    Filer's total
    $331,236

  • Timothy J Geary

    DIR OF OPERATIONS & SERVICES

    Total calculated
    $323,203
    From this org
    $261,325
    From related orgs
    $0
    Other
    $61,878
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $257,893
    Bonus
    $0
    Other
    $3,432
    Deferred
    $39,405
    Nontaxable benefits
    $22,473
    Filer's total
    $323,203

  • Alejandro Snchez Alvarado

    DIRECTOR

    Total calculated
    $219,884
    From this org
    $0
    From related orgs
    $202,731
    Other
    $17,153
    Hours/week
    2 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $114,350 related
    Bonus
    $0
    Other
    $0 + $88,381 related
    Deferred
    $0 + $17,153 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $219,884 related

  • David A Welte

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 7 related

  • James E Stowers III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Clifford W Illig

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Gina Kaiser

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cici Rojas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Maurice Watson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Julie Wilson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Pam Lokken

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Alberzine Freeman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Jonathan Thomas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • John Bluford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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
  • 1a · Tax indemnification and gross-up payments
  • 1a · Health or social club dues or initiation fees
  • 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
  • 4a · Severance or change-of-control payment

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A
SRM paid for first-class travel for Jennifer Pawlosky in one instance. She was not taxed on the benefit since the travel was for business purposes. SRM HAS A WRITTEN EMPLOYMENT CONTRACT WITH RICHARD W. BROWN (PRESIDENT/CEO), WHICH PROVISIONS INCLUDE PAYMENT OF SOCIAL CLUB DUES AND PERSONAL USE OF AN AUTOMOBILE. SRM HAS A WRITTEN EMPLOYMENT AGREEMENT WITH CHARLES GERMAN (EVP/GENERAL COUNSEL), WHICH PROVISIONS INCLUDE REIMBURSEMENT FOR PROFESSIONAL AND SOCIAL CLUB DUES. SRM'S OFFER LETTER TO JENNIFER PAWLOSKY (COS/VP OF COMMUNICATIONS) INCLUDED PROVISIONS FOR PAYMENT OF SOCIAL CLUB DUES. PAWLOSKY ALSO RECEIVED TAX GROSS-UP PAYMENTS FOR RELOCATION PURPOSES. ALL TAXABLE BENEFITS ARE TREATED AS COMPENSATION TO THE RECIPIENTS.
SCHEDULE J, PART I, LINE 1B
SRM PROVIDED THE BENEFITS DESCRIBED IN RESPONSE TO LINE 1A PURSUANT TO WRITTEN EMPLOYMENT CONTRACTS THAT WERE APPROVED BY SRM'S GOVERNING BOARD. SEE RESPONSE TO FORM 990, PART VI, SECTION B, LINE 15 FOR ADDITIONAL PROCESSES RELATED TO DETERMINING SALARY AND BENEFITS FOR OFFICERS.
SCHEDULE J, PART I, LINE 4A
SRM entered a Severance Compensation Agreement as of August 15,2022 with Michael Newhouse. Under the agreement, Mr. Newhouse was paid $363,020.83 (less taxes and withholding) in severance as payroll. The first installment in the amount of $106,770.83 was paid on September 2, 2022. The second installment in the amount of $256,250.00 was paid on January 6, 2023. The agreement also provided COBRA reimbursement up to $2,400.00 per month for twelve (12) months following the separation date. The terms and conditions of the agreement required the return of all property. The agreement also included standard releases, and imposed confidentiality and non-disparagement obligations on Mr. Newhouse.

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.

  • BIOMED VALLEY DISCOVERIES INC

    C CORP · SEE PART VII · DE · controlled entity

    Directly controlled by BVC

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202343079349300519

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