The Ruth K Broad Biomedical Research Foundation Inc
- Assets
- $19.5m
- Revenue
- $586.0k
- Investments
- $14.9m
- Employees
- 0
- Location
- Durham, NC
- Founding
- 06/1989
- Data as of
- 06/2021
- EIN
- 65-0045051
Organization Overview
The Ruth K Broad Biomedical Research Foundation Inc is located in Durham, NC. The organization was established in 1989. 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. Ruth K Broad Biomedical Research Foundation 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 06/2021, Ruth K Broad Biomedical Research Foundation Inc generated $586.0k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $520.8k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ruth K Broad Biomedical Research Foundation Inc has awarded 17 individual grants totaling $3,602,923. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O FOR ORGANIZATION'S MISSION STATEMENTSUPPORT BASIC SCIENTIFIC RESEARCH, EDUCATION AND DISSEMINATION OF RESEARCH FINDINGS IN THE NEUROSCIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
IN FY19, THE BOARD OF THE RUTH K. BROAD FOUNDATION APPROVED A NEW AWARD, THE ANN B. BUSSEL AWARD. THE FOUNDATION WILL BE AWARDING A TWO-YEAR GRANT, EFFECTIVE JULY 1, 2020 FOR $100,000 EACH YEAR. THE FIRST AWARD PERIOD BEGAN JULY 1, 2020. THE PURPOSE OF THIS AWARD IS TO IMPROVE OUR UNDERSTANDING OF, AND ABILITY TO TREAT, ALZHEIMER'S DISEASE AND PREFERENCE IS FOR RESEARCH APPROACHES THAT STUDY HUMANS TO COMPLEMENT THE RUTH K. BROAD FOUNDATION'S EXISTING, PRIMARY BASIC NEUROSCIENCE, RESEARCH GRANT PROGRAMS. THE GRANT WILL BE AWARDED TO FACULTY AT DUKE. THE FACULTY MEMBER HAS A COLLABORATOR AT ANOTHER INSTITUTION, SPLITTING THE GRANT TO CO-FUND THE INVESTIGATORS AT THE TWO INSTITUTIONS WILL BE CONSIDERED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Snyderman Director/chairman | OfficerTrustee | 0.1 | $0 |
Deborah Bussel Director/vice President | OfficerTrustee | 0.1 | $0 |
John M Bussel Director/treasurer | OfficerTrustee | 0.1 | $0 |
Erica Kitchen Secretary | Officer | 0.1 | $0 |
Jennifer Gallina President | Officer | 2 | $0 |
Richard J O'brien Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $55,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $55,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $531,039 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $586,039 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $510,784 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $10,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $520,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,262 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $4,423,268 |
| Investments—other securities | $14,919,815 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,461,345 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $19,461,345 |
| Total liabilities and net assets/fund balances | $19,461,345 |
Grants Awarded
Over the last fiscal year, The Ruth K Broad Biomedical Research Foundation Inc has awarded $510,784 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Durham, NC PURPOSE: GENERAL RESEARCH SUPPORT | $385,784 |
Ann Arbor, MI PURPOSE: GENERAL RESEARCH SUPPORT | $125,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Global Genomics And Bioinformatics Research Institute Fairfax, VA | $41,758,166 | $3,961,424 |
Emtech Inc Atlanta, GA | $29,330,405 | $2,880,833 |
Health Research Alliance Inc Research Triangle Park, NC | $1,337,477 | $512,240 |
The Ruth K Broad Biomedical Research Foundation Inc Durham, NC | $19,461,345 | $586,039 |
North Carolina Association For Biomedical Research Raleigh, NC | $695,000 | $534,428 |
Open Humans Foundation Sanford, NC | $245,591 | $0 |
Augusta Biomedical Research Corporation Augusta, GA | $374,758 | $102,169 |
Technology Accelerator Company Charleston, SC | $1,235,536 | $382,447 |