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← STOWERS RESOURCE MANAGEMENT INC

Form 990 for tax year 2022

Filed by STOWERS RESOURCE MANAGEMENT INC.

What the amendment changed

Compared with the return it replaced , filed 15 November 2023. matched by us Only the Part I totals and the names listed in Part VII 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
$20,963,626
Total expenses
$68,679,277
Contributions and grants received
$1,179,772
Grants paid
$44,067,843
Program service revenue
$17,270,334
Investment income
$2,498,256
Other revenue
$15,264
Total assets, end of year
$1,754,575,141
Total liabilities, end of year
$296,515,132
Net assets or fund balances, end of year
$1,458,060,009
Program services expenses (Part IX)
$64,803,028
Management and general expenses
$3,645,857
Fundraising expenses
$230,392
Program service expenses (Part III)
$64,803,028

Program services were 94.4% 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.

  • 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

    $1,179,772

  • 1g · Noncash contributions included above

    $0

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

    total $16,936,407 · related or exempt $16,936,407 · unrelated business $0 · excluded $0

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

    total $299,500 · related or exempt $299,500 · unrelated business $0 · excluded $0

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

    total $17,854 · related or exempt $17,854 · unrelated business $0 · excluded $0

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

    total $16,573 · related or exempt $16,573 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $8,964,852 · related or exempt $0 · unrelated business $0 · excluded $8,964,852

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

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

  • 5 · Royalties

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

  • 6a · Gross rents

    real property $13,177 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $13,177 · personal property $0

  • 6d · Net rental income or loss

    total $13,177 · excluded $13,177

  • 7a · Gross sales of assets other than inventory

    securities $66,170,304 · other assets $6,714

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

    securities $72,643,614 · other assets $0

  • 7c · Gain or loss

    securities -$6,473,310 · other assets $6,714

  • 7d · Net gain or loss

    total -$6,466,596 · related or exempt $0 · unrelated business $0 · excluded -$6,466,596

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 11a · Other revenue: MISSOURI TIMELY FILING DISCOUNT

    total $2,087 · related or exempt $0 · unrelated business $0 · excluded $2,087

  • 11b · Other revenue

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

  • 11c · Other revenue

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

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $2,087

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $44,067,843 · program services $44,067,843

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $3,029,287 · program services $2,726,358 · management and general $272,636 · fundraising $30,293

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $6,283,918 · program services $5,655,526 · management and general $565,553 · fundraising $62,839

  • 8 · Pension plan contributions

    total $1,019,759 · program services $917,783 · management and general $91,778 · fundraising $10,198

  • 9 · Other employee benefits

    total $1,242,351 · program services $1,118,116 · management and general $111,812 · fundraising $12,423

  • 10 · Payroll taxes

    total $569,636 · program services $512,672 · management and general $51,267 · fundraising $5,697

  • 11a · Fees: management

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

  • 11b · Fees: legal

    total $795,060 · program services $0 · management and general $795,060 · fundraising $0

  • 11c · Fees: accounting

    total $234,415 · program services $0 · management and general $234,415 · fundraising $0

  • 11d · Fees: lobbying

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

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $542,863 · program services $0 · management and general $542,863 · fundraising $0

  • 11g · Fees: other

    total $1,403,022 · program services $1,262,720 · management and general $126,272 · fundraising $14,030

  • 12 · Advertising and promotion

    total $54,408 · program services $48,967 · management and general $4,897 · fundraising $544

  • 13 · Office expenses

    total $159,574 · program services $143,617 · management and general $14,362 · fundraising $1,595

  • 14 · Information technology

    total $376,072 · program services $338,465 · management and general $33,846 · fundraising $3,761

  • 15 · Royalties

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

  • 16 · Occupancy

    total $1,991,479 · program services $1,792,331 · management and general $179,233 · fundraising $19,915

  • 17 · Travel

    total $83,381 · program services $75,043 · management and general $7,504 · fundraising $834

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

    total $84,969 · program services $76,472 · management and general $7,647 · fundraising $850

  • 20 · Interest

    total $1,439,337 · program services $1,295,403 · management and general $129,540 · fundraising $14,394

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

    total $1,101,581 · program services $991,423 · management and general $99,142 · fundraising $11,016

  • 23 · Insurance

    total $277,577 · program services $249,819 · management and general $24,982 · fundraising $2,776

  • 24a · Other expenses: MAINTENANCE EXPENSES

    total $2,705,498 · program services $2,434,948 · management and general $243,495 · fundraising $27,055

  • 24b · Other expenses: OPERATION SUPPLIES

    total $412,349 · program services $371,114 · management and general $37,111 · fundraising $4,124

  • 24c · Other expenses: DUES & MEMBERSHIPS

    total $280,232 · program services $252,209 · management and general $25,221 · fundraising $2,802

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

    total $131,628 · program services $118,465 · management and general $11,847 · fundraising $1,316

  • 24e · All other expenses

    total $393,038 · program services $353,734 · management and general $35,374 · fundraising $3,930

  • 26 · Joint costs (an allocation of the lines above)

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

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 $3,487,168 · end of year $572,671

  • 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 $2,369,762 · end of year $2,274,639

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

    $18,997,710

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

    $15,229,445

  • 10c · Land, buildings and equipment, net

    beginning of year $4,336,397 · end of year $3,768,265

  • 11 · Investments: publicly traded securities

    beginning of year $553,464,856 · end of year $517,106,372

  • 12 · Investments: other securities

    beginning of year $1,226,612,683 · end of year $1,216,690,639

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $19,567,514 · end of year $14,162,555

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,381,752 · end of year $6,139,667

  • 20 · Tax-exempt bond liabilities

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

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $686,238 · end of year $375,465

  • 27 · Net assets without donor restrictions

    beginning of year $1,509,141,460 · end of year $1,456,190,198

  • 28 · Net assets with donor restrictions

    beginning of year $2,628,930 · end of year $1,869,811

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 AND MOLECULAR BIOLOGY RESEARCH AND THE GRADUATE SCHOOL OF THE STOWERS INSTITUTE FOR MEDICAL RESEARCH ("GSSIMR") WHICH PROVIDES GRADUATE EDUCATION THAT WILL PREPARE SCHOLARS FOR SCIENTIFIC RESEARCH IN THE BIOLOGICAL SCIENCES.

  • 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. SRM PROVIDED $35,067,843 TO SIMR, A RELATED 501(C)(3) ORGANIZATION, FOR ENDOWMENT SUPPORT AND $9,000,000 TO BIOMED VALLEY CORPORATION ("BVC"), A RELATED 501(C)(3) CORPORATION, FOR ENDOWMENT SUPPORT.

    Expenses $44,067,843 · Grants $44,067,843

  • 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 $16,936,407 AS REPORTED ON PART VIII STATEMENT OF REVENUE LINE 2A, WITH RELATED INFORMATION ON SCHEDULE O.

    Expenses $17,270,334 · Revenue $17,270,334

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

    Expenses $3,464,851

As filed on the 2022 return.

Listed in Part VII

  • CHARLES GERMAN

    DIRECTOR/EVP/GENERAL COUNSEL

    Total calculated
    $0
    Hours/week
    40 + 9 related

  • GEORGE L SATTERLEE

    DIRECTOR /EVP/HR

    Total calculated
    $0
    Hours/week
    40 + 2 related

  • RICHARD W BROWN

    DIR/CHAIR/PRES/CEO

    Total calculated
    $0
    Hours/week
    40 + 9 related

  • ALBERZINE FREEMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • ALEJANDRO SNCHEZ ALVARADO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 42 related

  • BRENT KREIDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 42 related

  • CICI ROJAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CLIFFORD W ILLIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • DAVID A WELTE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 7 related

  • GINA KAISER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JAMES E STOWERS III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOHN BLUFORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JONATHAN THOMAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • JULIE WILSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KAUSIK SI

    DIRECTOR AS OF 6/27/23

    Total calculated
    $0
    Hours/week
    2 + 40 related

  • MAURICE WATSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PAM LOKKEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PENNY M SPENCE

    EVP/CFO

    Total calculated
    $0
    Hours/week
    40 + 11 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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
26 April 2024
IRS schema version
2022v5.0
Source object
202411179349300601

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