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Nonprofiteer
← CEDARS SINAI INTELLECTUAL PROPERTY COMPANY

Form 990 for tax year 2022

Filed by CEDARS SINAI INTELLECTUAL PROPERTY COMPANY.

Totals

Total revenue
$898,368,973
Total expenses
$9,050,545
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$885,024,945
Other revenue
$13,344,028
Total assets, end of year
$122,775,513
Total liabilities, end of year
$2,520,961
Net assets or fund balances, end of year
$120,254,552
Program services expenses (Part IX)
$9,043,807
Management and general expenses
$6,738
Fundraising expenses
$0
Program service expenses (Part III)
$9,043,807

Program services were 99.9% 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 $109,877 · excluded $109,877

  • 5 · Royalties

    total $13,344,028 · excluded $13,344,028

  • 7a · Gross sales of assets other than inventory

    securities $899,346,750

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

    securities $14,431,682

  • 7c · Gain or loss

    securities $884,915,068

  • 7d · Net gain or loss

    total $884,915,068 · excluded $884,915,068

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $1,662,733 · program services $1,662,733

  • 11b · Fees: legal

    total $2,926,976 · program services $2,926,976

  • 11c · Fees: accounting

    total $6,738 · management and general $6,738

  • 15 · Royalties

    total $4,453,469 · program services $4,453,469

  • 24a · Other expenses: CREDIT CARD CHARGES

    total $529 · program services $529

  • 24b · Other expenses: BANK CHARGES

    total $100 · program services $100

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,380,960 · end of year $14,044,080

  • 13 · Investments: program-related

    beginning of year $130,567,465 · end of year $108,342,740

  • 15 · Other assets

    beginning of year $61,000 · end of year $388,693

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $2,314,467

  • 25 · Other liabilities

    beginning of year $7,961,763 · end of year $206,494

  • 27 · Net assets without donor restrictions

    beginning of year $128,047,662 · end of year $120,254,552

Mission and programs · 2022

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 $9,043,807

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

Listed in Part VII

  • Shlomo Melmed

    DIRECTOR

    Total calculated
    $3,622,979
    From this org
    $0
    From related orgs
    $2,965,359
    Other
    $657,620
    Hours/week
    1 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,412,823 related
    Bonus
    $0 + $822,784 related
    Other
    $0 + $729,752 related
    Deferred
    $0 + $631,150 related
    Nontaxable benefits
    $0 + $26,470 related
    Filer's total
    $0 + $3,622,979 related

  • Edward M Prunchunas

    DIRECTOR

    Total calculated
    $2,891,173
    From this org
    $0
    From related orgs
    $2,734,586
    Other
    $156,587
    Hours/week
    1 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $978,626 related
    Bonus
    $0 + $582,201 related
    Other
    $0 + $1,173,759 related
    Deferred
    $0 + $142,603 related
    Nontaxable benefits
    $0 + $13,984 related
    Filer's total
    $0 + $2,891,173 related

  • David M Wrigley

    TREASURER AND DIRECTOR

    Total calculated
    $2,190,213
    From this org
    $0
    From related orgs
    $1,947,870
    Other
    $242,343
    Hours/week
    1 + 65 related

    Schedule J breakdown matched by us

    Base
    $0 + $842,159 related
    Bonus
    $0 + $398,603 related
    Other
    $0 + $707,108 related
    Deferred
    $0 + $214,265 related
    Nontaxable benefits
    $0 + $28,078 related
    Filer's total
    $0 + $2,190,213 related

  • James D Laur

    PRESIDENT AND DIRECTOR

    Total calculated
    $1,415,732
    From this org
    $0
    From related orgs
    $1,303,261
    Other
    $112,471
    Hours/week
    17 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $653,213 related
    Bonus
    $0 + $308,647 related
    Other
    $0 + $341,401 related
    Deferred
    $0 + $92,309 related
    Nontaxable benefits
    $0 + $20,162 related
    Filer's total
    $0 + $1,415,732 related

  • Pamela Collingwood

    SECRETARY

    Total calculated
    $353,964
    From this org
    $0
    From related orgs
    $335,523
    Other
    $18,441
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $0 + $278,270 related
    Bonus
    $0 + $47,371 related
    Other
    $0 + $9,882 related
    Deferred
    $0 + $4,523 related
    Nontaxable benefits
    $0 + $13,918 related
    Filer's total
    $0 + $353,964 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, FOUR INDIVIDUALS HAVE RETENTION INCENTIVES WHICH HAD CLIFF-VESTING DATES DURING CALENDAR YEAR 2022. THE FOLLOWING OFFICERS AND DIRECTORS RECEIVED PAYMENTS BELOW DURING THE YEAR ENDED DECEMBER 31, 2022. THESE PAYMENTS ARE INCLUDED IN SCHEDULE J, PART II AND ARE NOT INCREMENTAL PAYMENTS. PAMELA COLLINGWOOD 9,643 JAMES D. LAUR 294,870 SHLOMO MELMED 713,092 EDWARD M. PRUNCHUNAS 849,453 DAVID M. WRIGLEY 653,109

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.

  • 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

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 $62,753 · share of assets $2,940,035 · 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

  • TRIAN PARTNERS II LTD

    C · INVESTMENTS · CJ · 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 · controlled entity

    Directly controlled by CEDARS SINAI INTELLECTUAL PROPERTY CO

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202401359349311830

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