Van Andel Institute
- Assets
- $1.8b
- Revenue
- $111.5m
- Investments
- $669.8m
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 08/1997
- Data as of
- 11/2020
- EIN
- 52-2000820
Organization Overview
Van Andel Institute is located in Grand Rapids, MI. The organization was established in 1997. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Van Andel Institute 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 11/2020, Van Andel Institute generated $111.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.7%) each year. All expenses for the organization totaled $69.5m during the year ending 11/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING ORGANIZATION TO THE VAN ANDEL RESEARCH INSTITUTE AND VAN ANDEL EDUCATION INSTITUTE.TYPE III- FUNCTIONALLY INTEGRATED SUPPORTING ORGANIZATION OPERATED EXCLUSIVELY FOR THE BENEFIT OF THE VAN ANDEL RESEARCH INSTITUTE AND THE VAN ANDEL EDUCATION INSTITUTE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE VAN ANDEL EDUCATION INSTITUTE (VAEI), WHICH INCLUDES THE VAN ANDEL INSTITUTE GRADUATE SCHOOL (VAIGS) AND SCIENCE ACADEMY. VAIGS PREPARES BIOMEDICAL RESEARCH SCHOLARS THROUGH A GRADUATE PROGRAM IN CELL AND MOLECULAR GENETICS. THE SCIENCE ACADEMY PROGRAMS CREATE A UNIQUE SETTING FOR STUDENTS, K-12, ENCOURAGING AND ENABLING THEM TO EXPLORE, QUESTION, AND INVESTIGATE AS SCIENTISTS DO.
TO OPERATE FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE VAN ANDEL RESEARCH INSTITUTE (VARI), A MEDICAL RESEARCH ORGANIZATION. VARI CONDUCTS BIOMEDICAL RESEARCH, FOCUSING ON CANCER, EPIGENETICS AND PARKINSON'S DISEASE WITH AN EMPHASIS ON TRANSLATING SCIENTIFIC RESEARCH RESULTS INTO CLINICAL APPLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Van Andel Chairman / CEO | OfficerTrustee | 15 | $0 |
Timothy Myers Chief Financial Officer | Officer | 1 | $0 |
Thomas Curran General Counsel | Officer | 1 | $0 |
Dr Jana Hall Chief Operations Officer | Officer | 1 | $0 |
Gerald Callahan Chief Strategic Officer | Officer | 1 | $0 |
John Kennedy Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
La Capital Investment Management | 11/29/21 | $402,645 |
Lord Abbett Investment Management | 11/29/21 | $391,905 |
Donald Smith Investment Management | 11/29/21 | $317,312 |
Huron Capital Fund Investment Management | 11/29/21 | $304,402 |
The Northern Trust Company Investment Management | 11/29/21 | $275,329 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $924,655 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,449,921 |
| Noncash contributions included in lines 1a–1f | $190,982 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,374,576 |
| Total Program Service Revenue | $0 |
| Investment income | $17,467,589 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $632 |
| Net Rental Income | $44,819 |
| Net Gain/Loss on Asset Sales | $64,893,991 |
| Net Income from Fundraising Events | -$257,217 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $111,524,637 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $58,505,033 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $57,000 |
| Compensation of current officers, directors, key employees. | $57,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $135,419 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,130,769 |
| Fees for services: Other | $14,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $96,111 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $201,849 |
| Insurance | $0 |
| All other expenses | $23,490 |
| Total functional expenses | $69,463,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $289,244,121 |
| Pledges and grants receivable | $45,100 |
| Accounts receivable, net | $100,912,857 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $10,836,295 |
| Investments—publicly traded securities | $744,359,983 |
| Investments—other securities | $669,811,292 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $762,230 |
| Total assets | $1,815,971,878 |
| Accounts payable and accrued expenses | $20,217,988 |
| Grants payable | $0 |
| Deferred revenue | $93,338 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $0 |
| Total liabilities | $20,311,326 |
| Net assets without donor restrictions | $1,133,944,914 |
| Net assets with donor restrictions | $661,715,638 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,815,971,878 |
Grants Awarded
Over the last fiscal year, Van Andel Institute has awarded $55,836,346 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Grand Rapids, MI PURPOSE: SUPPORT FOR VARI OPERATING EXPENSES. | $51,467,392 |
Grand Rapids, MI PURPOSE: SUPPORT FOR VAEI OPERATING EXPENSES. | $4,368,954 |
Grants Recieved
Over the last fiscal year, we have identified 30 grants that Van Andel Institute has recieved totaling $572,200.
| Awarding Organization | Amount |
|---|---|
Leukemia & Lymphoma Society Inc Rye Brook, NY PURPOSE: RESEARCH GRANT | $120,000 |
Peter C And Emajean Cook Foundation Grand Rapids, MI PURPOSE: CAPITAL CAMPAIGN | $75,000 |
Pew Charitable Trusts Washington, DC PURPOSE: Policy | $75,000 |
Community Foundation For The Fox Valley Region Inc Appleton, WI PURPOSE: T70: FEDERATED GIVING PROGRAMS | $50,000 |
Samuel L Westerman Foundation Bloomfield Hills, MI PURPOSE: MEDICAL RESEARCH | $45,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: SUPPORT | $36,900 |
Endowment Analysis
| Beg. Balance | $1,687,081,775 |
| Earnings | $257,468,200 |
| Admin Expense | $11,391,903 |
| Net Contributions | $124,910,068 |
| Other Expense | $2,178,262 |
| Ending Balance | $2,055,889,878 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Childrens Fund Inc Neenah, WI | $1,153,019 | $79,562,043 |
Van Andel Institute Grand Rapids, MI | $1,815,971,878 | $111,524,637 |
William Davidson Foundation Birmingham, MI | $1,107,938,800 | $127,279,050 |
Ronda E Stryker & William D Johnston Foundation Kalamazoo, MI | $63,637,902 | $79,561,320 |
Gilbert Family Foundation Detroit, MI | $122,833,560 | $20,538,766 |
The Wexner Family Charitable Fund New Albany, OH | $184,942,197 | $254,449,818 |
Alfred And Isabel Bader 2014 Charitable Trust Milwaukee, WI | $88,717,556 | $62,553,918 |
Nina Mason Pulliam Charitable Tr Indianapolis, IN | $513,484,211 | $27,103,020 |
Fifth Third Union Trust Co Foundation Cincinnati, OH | $28,852,332 | $17,459,816 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
Carol Ann And Ralph V Haile Jr Foundation Cincinnati, OH | $318,390,176 | $10,905,260 |
Mathile Family Foundation Dayton, OH | $0 | $5,909,915 |