Washington Research Foundation
- Assets
- $325.9m
- Revenue
- $51.9m
- Investments
- $310.0m
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 08/2014
- Data as of
- 06/2021
- EIN
- 46-4105873
Organization Overview
Washington Research Foundation is located in Seattle, WA. The organization was established in 2014. According to its NTEE Classification (H92) the organization is classified as: Biomedicine & Bioengineering Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Research Foundation 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 06/2021, Washington Research Foundation generated $51.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (26.7%) each year. All expenses for the organization totaled $14.0m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Washington Research Foundation has awarded 536 individual grants totaling $55,456,804. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
ASSIST ELIGIBLE INSTITUTIONS TO APPLY FOR PATENTS RELATED TO DISCOVERIES, INVENTIONS, AND PROCESSES RESULTING FROM THEIR RESEARCH AND TO MANAGE PATENT RIGHTS. (RELATED GRANTS: $6,441,700)
PROMOTE, ENCOURAGE, AND SUPPORT SCIENTIFIC INVESTIGATION AND RESEARCH AT ELIGIBLE INSTITUTIONS. (RELATED GRANTS: $7,087,738)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Howell CEO & President (thru 4/2021) | 40 | $199,846 | |
Jeff Eby Cfo/acting Ceo/treasurer/secretary | 40 | $190,839 | |
William Canestaro Managing Director | 40 | $110,168 | |
Loretta Little Managing Director | 40 | $109,783 | |
Kimberly Emmons Manager, Research Se | 40 | $84,434 | |
Morgan Hellar CFO | 40 | $75,857 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs & Co | 6/29/21 | $387,016 |
K&l Gates | 6/29/21 | $218,435 |
Uw Start Center | 6/29/21 | $84,977 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $26,017,575 |
| Interest on Savings | $218,109 |
| Dividends & Interest | $3,102,918 |
| Net Rental Income | -$64,500 |
| Net Gain on Sale of Assets | $22,412,473 |
| Capital Gain Net Income | $6,918,818 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $43,054 |
| Total Revenue | $51,887,435 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $512,342 |
| Other employee salaries and wages | $1,606,109 |
| Pension plans, employee benefits | $472,884 |
| Interest | $0 |
| Taxes | $360,466 |
| Depreciation | $0 |
| Occupancy | $126,292 |
| Travel, conferences, and meetings | $44,898 |
| Printing and publications | $7,906 |
| Other expenses | $301,694 |
| Total operating and administrative expenses | $4,339,782 |
| Contributions, gifts, grants paid | $9,669,207 |
| Total expenses and disbursements | $14,008,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $919,765 |
| Savings and temporary cash investments | $10,530,754 |
| Net Accounts receivable | $10,095 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $400,000 |
| Net other notes and loans receivable | $4,106,166 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $52,957,508 |
| Net Land, buildings, and equipment | $5,660 |
| Other assets | $0 |
| Total assets | $325,923,396 |
| Accounts payable and accrued expenses | $1,782,343 |
| Grants payable | $4,995,251 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,777,594 |
Grants Awarded
Over the last fiscal year, Washington Research Foundation has awarded $18,164,254 in support to 163 organizations.
| Grant Recipient | Amount |
|---|---|
WASHINGTON STATE UNIVERSITY PURPOSE: ATHIRA STOCK - $6,431,000BOOK VALUE OF CONTRIBUTED PROPERTY: $6,431,000VALUATION METHOD: FAIR MARKET VALUEDATE OF GIFT: 8/27/2020PURPOSE: GENERAL OPERATIONS | $6,431,000 |
Seattle, WA PURPOSE: PORTION OF QUALIFYING DISTRIBUTIONS ATTRIBUTABLE TO THE FOUNDATION AS PART OF THE SIGNIFICANT DISTRIBUTION OF ASSETS TO WASHINGTON RESEARCH LICENSING FOUNDATION (91-1160492) DURING THE YEAR, PURSUANT TO TREAS REG 1.507-3. | $2,000,206 |
FRED HUTCHINSON CRC PURPOSE: HUTCH PHASE 1/2 COMMERICALIZATION GRANTS | $750,000 |
UNIVERSITY OF WASHINGTON PURPOSE: VARANI: SMALL MOLECULE INHIBITORS OF ONCOGENIC RNA | $400,000 |
WASHINGTON STATE UNIVERSITY PURPOSE: WRF POST-DOC FELLOWSHIP: CARNEY 2021 COHORT | $277,500 |
UNIVERSITY OF WASHINGTON PURPOSE: WRF POST-DOC FELLOWSHIP: MAFUNE 2021 COHORT | $277,500 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Washington Research Foundation has recieved totaling -$2,000,206.
| Awarding Organization | Amount |
|---|---|
Washington Research Licensing Foundation Seattle, WA PURPOSE: CAPITAL GRANT OF ASSETS, SEE STATEMENT 15 FOR THE GRANT PURPOSE. CASH - $23,953,848; PRIVATELY HELD INVESTMENTS - $2,013,727BOOK VALUE OF CONTRIBUTED PROPERTY: $25,967,575VALUATION METHOD: FAIR MARKET VALUEDATE OF GIFT: VARIOUS | $25,967,575 |
Washington Research Licensing Foundation Seattle, WA PURPOSE: PORTION OF QUALIFYING DISTRIBUTIONS ATTRIBUTABLE TO THE FOUNDATION AS PART OF THE SIGNIFICANT DISTRIBUTION OF ASSETS FROM WASHINGTON RESEARCH FOUNDATION (46-4105873) DURING THE YEAR, PURSUANT TO TREAS REG 1.507-3. | -$2,000,206 |
Washington Research Licensing Foundation Seattle, WA PURPOSE: PORTION OF GRANTS PAID TREATED AS A DISTRIBUTION OF CORPUS UNDER TREAS. REG. 53.4942(A)-3. | -$25,967,575 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Huntsman Cancer Foundation Salt Lake City, UT | $266,610,959 | $34,840,690 |
Northern California Institute For Research And Education Inc San Francisco, CA | $16,307,751 | $46,684,844 |
Benaroya Research Institute At Virginia Mason Seattle, WA | $103,998,179 | $37,835,331 |
Altius Institute For Biomedical Sciences Seattle, WA | $61,078,390 | $44,158,765 |
Sports Medicine Research And Testing Laboratory South Jordan, UT | $85,311,442 | $82,704,534 |
Palo Alto Veterans Institute For Research Palo Alto, CA | $15,189,973 | $29,400,012 |
Rady Childrens Hospital Research Center San Diego, CA | $50,765,897 | $20,376,903 |
Medicines360 San Francisco, CA | $84,365,229 | $12,024,199 |
Clearwater Valley Hospital & Clinics Inc Orofino, ID | $23,124,731 | $26,098,735 |
Gary And Mary West Health Institute La Jolla, CA | $20,819,217 | $21,045,299 |
Infectious Disease Research Institute Seattle, WA | $13,563,097 | $13,342,560 |
University Medical Group Inc Portland, OR | $0 | $19,037,411 |