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Nonprofiteer
← GATES MEDICAL RESEARCH INSTITUTE

Form 990 for tax year 2024

Filed by GATES MEDICAL RESEARCH INSTITUTE.

Totals

Total revenue
$132,834,027
Total expenses
$341,131,798
Contributions and grants received
$131,916,618
Grants paid
$0
Program service revenue
$0
Investment income
$857,443
Other revenue
$59,966
Total assets, end of year
$613,229,640
Total liabilities, end of year
$66,523,963
Net assets or fund balances, end of year
$546,705,677
Program services expenses (Part IX)
$323,323,996
Management and general expenses
$17,807,802
Fundraising expenses
$0
Program service expenses (Part III)
$323,323,996

Program services were 94.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • TREVOR MUNDEL

    DIRECTOR, BOARD CHAIR

    Total calculated
    $1,466,448
    From this org
    $0
    From related orgs
    $1,396,369
    Other
    $70,079
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,329,113 related
    Bonus
    $0
    Other
    $0 + $67,256 related
    Deferred
    $0 + $51,750 related
    Nontaxable benefits
    $0 + $18,329 related
    Filer's total
    $0 + $1,466,448 related

  • CAROLYN AINSLIE

    DIRECTOR

    Total calculated
    $1,109,332
    From this org
    $0
    From related orgs
    $1,025,020
    Other
    $84,312
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $947,100 related
    Bonus
    $0
    Other
    $0 + $77,920 related
    Deferred
    $0 + $51,750 related
    Nontaxable benefits
    $0 + $32,562 related
    Filer's total
    $0 + $1,109,332 related

  • TONI HOOVER

    DIRECTOR

    Total calculated
    $724,790
    From this org
    $0
    From related orgs
    $642,426
    Other
    $82,364
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $578,242 related
    Bonus
    $0 + $27,302 related
    Other
    $0 + $36,882 related
    Deferred
    $0 + $51,750 related
    Nontaxable benefits
    $0 + $30,614 related
    Filer's total
    $0 + $724,790 related

  • GAGANDEEP KANG

    DIRECTOR

    Total calculated
    $570,056
    From this org
    $0
    From related orgs
    $501,273
    Other
    $68,783
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $474,938 related
    Bonus
    $0 + $135 related
    Other
    $0 + $26,200 related
    Deferred
    $0 + $51,750 related
    Nontaxable benefits
    $0 + $17,033 related
    Filer's total
    $0 + $570,056 related

  • HELENE MADONICK

    DIRECTOR (END 12/24)

    Total calculated
    $16,636
    From this org
    $0
    From related orgs
    $16,636
    Other
    $0
    Hours/week
    2

  • HARISH KAUSHAL

    TREASURER

    Total calculated
    $806,923
    From this org
    $712,706
    From related orgs
    $0
    Other
    $94,217
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $518,610
    Bonus
    $108,583
    Other
    $85,513
    Deferred
    $51,750
    Nontaxable benefits
    $42,467
    Filer's total
    $806,923

  • PATRICE MATCHABA

    CHIEF EXECUTIVE OFFICER (START 6/24)

    Total calculated
    $652,494
    From this org
    $584,380
    From related orgs
    $0
    Other
    $68,114
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $439,597
    Bonus
    $125,000
    Other
    $19,783
    Deferred
    $51,750
    Nontaxable benefits
    $16,364
    Filer's total
    $652,494

  • SALLY JENNINGS

    SECRETARY

    Total calculated
    $524,721
    From this org
    $446,414
    From related orgs
    $0
    Other
    $78,307
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $431,932
    Bonus
    $0
    Other
    $14,482
    Deferred
    $51,750
    Nontaxable benefits
    $26,557
    Filer's total
    $524,721

  • EMILIO EMINI

    CHIEF EXECUTIVE OFFICER (END 6/24)

    Total calculated
    $492,093
    From this org
    $427,377
    From related orgs
    $0
    Other
    $64,716
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $413,617
    Bonus
    $0
    Other
    $13,760
    Deferred
    $51,750
    Nontaxable benefits
    $12,966
    Filer's total
    $492,093

  • MICHAEL DUNNE

    CHIEF MEDICAL OFFICER (END 12/24)

    Total calculated
    $910,041
    From this org
    $812,206
    From related orgs
    $0
    Other
    $97,835
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $732,985
    Bonus
    $0
    Other
    $79,221
    Deferred
    $51,750
    Nontaxable benefits
    $46,085
    Filer's total
    $910,041

  • DEBRA WEISS

    CHIEF OPERATING OFFICER

    Total calculated
    $773,052
    From this org
    $690,828
    From related orgs
    $0
    Other
    $82,224
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $657,093
    Bonus
    $0
    Other
    $33,735
    Deferred
    $51,750
    Nontaxable benefits
    $30,474
    Filer's total
    $773,052

  • PIPER TRELSTAD

    HEAD OF CHEM, MANUFAC, & CONTROLS

    Total calculated
    $642,743
    From this org
    $548,565
    From related orgs
    $0
    Other
    $94,178
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $508,759
    Bonus
    $0
    Other
    $39,806
    Deferred
    $51,750
    Nontaxable benefits
    $42,428
    Filer's total
    $642,743

  • JARED SILVERMAN

    HEAD OF TRANSLATIONAL DISCOVERY

    Total calculated
    $669,605
    From this org
    $573,001
    From related orgs
    $0
    Other
    $96,604
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $552,404
    Bonus
    $0
    Other
    $20,597
    Deferred
    $51,750
    Nontaxable benefits
    $44,854
    Filer's total
    $669,605

  • CHARLES WELLS

    HEAD OF THERAPEUTICS DEVELOPMENT

    Total calculated
    $603,544
    From this org
    $523,132
    From related orgs
    $0
    Other
    $80,412
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $480,397
    Bonus
    $10,285
    Other
    $32,450
    Deferred
    $51,750
    Nontaxable benefits
    $28,662
    Filer's total
    $603,544

  • ALEXANDER SCHMIDT

    HEAD OF DEVELOPMENT

    Total calculated
    $591,275
    From this org
    $496,301
    From related orgs
    $0
    Other
    $94,974
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $481,860
    Bonus
    $151
    Other
    $14,290
    Deferred
    $51,750
    Nontaxable benefits
    $43,224
    Filer's total
    $591,275

  • MARLA CURRAN

    HEAD OF BIOSTATISTICS & DATA SCIENCE

    Total calculated
    $575,526
    From this org
    $480,102
    From related orgs
    $0
    Other
    $95,424
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $470,253
    Bonus
    $0
    Other
    $9,849
    Deferred
    $51,750
    Nontaxable benefits
    $43,674
    Filer's total
    $575,526

  • CLAIRE WAGNER

    HEAD OF CORP STRAT & MKT ACCESS

    Total calculated
    $562,034
    From this org
    $463,437
    From related orgs
    $0
    Other
    $98,597
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $447,280
    Bonus
    $13,373
    Other
    $2,784
    Deferred
    $51,750
    Nontaxable benefits
    $46,847
    Filer's total
    $562,034

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
  • 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
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

PART I, LINE 1A
THE TRAVEL POLICY, APPLICABLE TO ALL EMPLOYEES, ALLOWS FOR FIRST-CLASS AIR TRAVEL ON DOMESTIC RED-EYE FLIGHTS DEPARTING AFTER 9:00 PM THAT EXCEED FIVE HOURS IN DURATION AND BUSINESS-CLASS AIR TRAVEL ON INTERNATIONAL FLIGHTS THAT EXCEED FIVE HOURS IN DURATION. RELOCATION PACKAGES ARE GENERALLY PROVIDED TO NEW EMPLOYEES WHO RESIDE MORE THAN 50 MILES OUTSIDE OF CAMBRIDGE, MASSACHUSSETTS. THE ORGANIZATION GROSSES UP TAXABLE RELOCATION BENEFITS AND NOMINAL SPOT AWARDS FOR EXEMPLARY PERFORMANCE (MAXIMUM AWARD AVAILABLE FOR GROSS UP IS $400 PER YEAR).
PART I, LINE 7:
ALL EMPLOYEES ARE ELIGIBLE TO RECEIVE HIGH IMPACT BONUSES, ANNUALLY. THESE BONUSES ARE DISCRETIONARY TO BE PAID BASED ON PREDETERMINED FIXED AMOUNTS (BETWEEN $2,500 AND $10,000) AND THE TOTAL AMOUNT PAID IS DETERMINED BASED ON PERFORMANCE AND THE IMPACT ON THE ORGANIZATION. DURING 2024, GATES MEDICAL RESEARCH INSTITUTE PAID OUT HIGH IMPACT BONUSES, INCLUDING TO INDIVIDUALS LISTED ON PART VII, SECTION A.
PART VII, SECTION A, LINE 1:
TOTAL ANNUAL COMPENSATION IS REPORTED FOR ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES REGARDLESS OF THE LENGTH OF TIME ACTIVELY SERVING AS A DIRECTOR, OFFICER, OR KEY EMPLOYEE OF GATES MEDICAL RESEARCH INSTITUTE DURING 2024.

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.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202513169349306306

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