Broad Institute Inc
- Assets
- $1.7b
- Revenue
- $586.9m
- Investments
- $694.1m
- Employees
- 2,632
- Location
- Cambridge, MA
- Founding
- 02/2009
- Data as of
- 06/2020
- EIN
- 26-3428781
Organization Overview
Broad Institute Inc is located in Cambridge, MA. The organization was established in 2009. According to its NTEE Classification (H20) the organization is classified as: Birth Defects & Genetic Diseases Research, under the broad grouping of Medical Research and related organizations. As of 06/2021, Broad Institute Inc employed 2,632 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Broad Institute Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Broad Institute Inc generated $586.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $521.5m during the year ending 06/2020. While expenses have increased by 4.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Broad Institute Inc has awarded 490 individual grants totaling $318,950,311. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric S Lander Director, Pres/ceo (unt 1/21) | OfficerTrustee | 60 | $1,407,291 |
Morgan Sheng Core Institute Member | 60 | $691,620 | |
Justine Levin-Allerhand Chief Develop. Officer/clerk | Officer | 60 | $594,441 |
Stacey Gabriel Sr. Dir. Genomics Platform | Officer | 60 | $563,632 |
Jesse Souweine Chief Operating Officer | Officer | 60 | $500,380 |
Beth Zelnick Kaufman Chief Legal Officer (unt 7/20) | 60 | $423,249 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Emc Corporation It Support Services | 6/29/21 | $6,737,298 |
Siena Construction Corp Construction | 6/29/21 | $3,836,535 |
Quinn Emanuel Urquhart Sullivan Legal | 6/29/21 | $3,885,432 |
Bond Brothers Inc Construction | 6/29/21 | $3,788,572 |
Johnson Marcou Issacs Llc Legal | 6/29/21 | $6,975,592 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $496,219,162 |
| Investment income | $4,476,398 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $20,181,082 |
| Net Rental Income | $82,254 |
| Net Gain/Loss on Asset Sales | $14,726,207 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $586,860,976 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $2,923,764 |
| Grants and other assistance to Foreign Orgs/Individuals | $12,142,567 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,794,177 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $173,926,159 |
| Pension plan accruals and contributions | $13,222,607 |
| Other employee benefits | $20,655,964 |
| Payroll taxes | $11,582,231 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,851,035 |
| Fees for services: Accounting | $305,244 |
| Fees for services: Lobbying | $1,500 |
| Fees for services: Fundraising | $221,008 |
| Fees for services: Investment Management | $4,399,868 |
| Fees for services: Other | $26,501,551 |
| Advertising and promotion | $725,650 |
| Office expenses | $1,333,219 |
| Information technology | $39,876,914 |
| Royalties | $0 |
| Occupancy | $35,167,520 |
| Travel | $3,859,979 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,530,156 |
| Interest | $16,992,994 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,095,291 |
| Insurance | $648,948 |
| All other expenses | $0 |
| Total functional expenses | $521,492,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,939,970 |
| Savings and temporary cash investments | $218,643,074 |
| Pledges and grants receivable | $107,176,520 |
| Accounts receivable, net | $93,843,535 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $389,047 |
| Inventories for sale or use | $16,578,549 |
| Prepaid expenses and deferred charges | $35,484,718 |
| Investments—publicly traded securities | $24,226,720 |
| Investments—other securities | $694,137,136 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,729,163 |
| Total assets | $1,666,576,375 |
| Accounts payable and accrued expenses | $101,318,624 |
| Grants payable | $0 |
| Deferred revenue | $71,251,345 |
| Tax-exempt bond liabilities | $282,049,565 |
| Escrow or custodial account liability | $7,738,993 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $143,147,334 |
| Total liabilities | $605,505,861 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,061,070,514 |
Grants Awarded
Over the last fiscal year, Broad Institute Inc has awarded $52,354,818 in support to 82 organizations.
| Grant Recipient | Amount |
|---|---|
Cambridge, MA PURPOSE: Program Support | $11,460,107 |
Somerville, MA PURPOSE: Program Support | $8,019,737 |
Cambridge, MA PURPOSE: Program Support | $5,636,356 |
Boston, MA PURPOSE: Program Support | $2,619,262 |
FATHOM INFORMATION DESIGN (BEN FRY LLC) PURPOSE: Program Support | $1,854,485 |
Boston, MA PURPOSE: Program Support | $1,848,221 |
Grants Recieved
Over the last fiscal year, we have identified 68 grants that Broad Institute Inc has recieved totaling $138,124,924.
| Awarding Organization | Amount |
|---|---|
Broad Foundation Los Angeles, CA PURPOSE: SCI & MED RESEARCH - TO SUPPORT BIOMEDICAL AND GENOMIC RESEARCH | $36,243,742 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $31,429,000 |
Stanley Family Foundation Briarcliff Manor, NY PURPOSE: TO SUPPORT PSYCHIATRIC MEDICAL RESEARCH | $13,250,000 |
Starr Foundation New York, NY PURPOSE: STARR CANCER CONSORTIUM | $10,000,000 |
Klarman Family Foundation Boston, MA PURPOSE: MEDICAL AND SCIENTIFIC RESEARCH: TO PROVIDE FLEXIBLE, INCUBATIVE AND ACCELERANT FUNDING FOR THE KLARMAN CELL OBSERVATORY TO SYSTEMATICALLY DEFINE CELLULAR CIRCUITS IN MAMMALIAN CELLS | $5,000,000 |
Food Allergy Research & Education Inc Mclean, VA PURPOSE: MEDICAL RESEARCH: GUTS-BRAIN STUDY | $5,000,000 |
Endowment Analysis
| Beg. Balance | $688,837,965 |
| Earnings | $252,348,799 |
| Net Contributions | $55,182,361 |
| Other Expense | $30,970,270 |
| Ending Balance | $965,398,855 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Broad Institute Inc Cambridge, MA | $1,666,576,375 | $586,860,976 |
Cardiovascular Research Foundation New York, NY | $57,426,030 | $52,277,749 |
New York Stem Cell Foundation Inc New York, NY | $75,950,014 | $43,590,530 |
The National Hemophilia Foundation New York, NY | $46,786,068 | $26,439,522 |
Hauptman-Woodward Medical Research Institute Inc Buffalo, NY | $26,101,769 | $9,359,091 |
Fshd Society Randolph, MA | $6,079,315 | $3,508,920 |
Hearing Health Foundation New York, NY | $12,344,240 | $5,730,095 |
Center For Human Genetics Inc Cambridge, MA | $9,835,244 | $2,410,975 |
Hereditary Disease Foundation New York, NY | $15,507,063 | $4,059,819 |
Cerebral Palsy Alliance Research Foundation New York, NY | $1,906,191 | $2,233,194 |
Everyone Reading Inc Brooklyn, NY | $262,422 | $247,442 |
The Kat6a Foundation Inc West Nyack, NY | $681,392 | $231,443 |