Additonal Ventures Foundation
- Assets
- $212.2m
- Revenue
- $30.4m
- Investments
- $208.8m
- Employees
- 0
- Location
- Palo Alto, CA
- Founding
- 07/2018
- Data as of
- 12/2021
- EIN
- 81-4429034
Organization Overview
Additonal Ventures Foundation is located in Palo Alto, CA. The organization was established in 2018. 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. Additonal Ventures 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 12/2021, Additonal Ventures Foundation generated $30.4m 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 (10.0%) each year. All expenses for the organization totaled $24.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Additonal Ventures Foundation has awarded 103 individual grants totaling $42,414,807. 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:
PROJECT SINGULAR - THE FOUNDATION IS INVESTING IN BUILDING A GENOMICS REGISTRY FOR SINGLE VENTRICLE PATIENTS AND THEIR FAMILIES IN THE UNITED STATES AND CANADA IN ORDER TO UNDERSTAND THE GENETIC CAUSES OF SINGLE VENTRICLE HEART DISEASE AS WELL AS THE GENETIC CONTRIBUTORS TO THE MANY ASSOCIATED CO-MORBIDITIES. AT LEAST 5,000 SINGLE VENTRICLE PATIENTS AND THEIR IMMEDIATE FAMILY MEMBERS (PARENTS AND SIBLINGS) WILL BE RECRUITED AND CONSENTED VIRTUALLY WITH DNA SEQUENCING KITS MAILED TO THEIR HOMES TO DECREASE THE BURDEN OF PARTICIPATION. WHOLE GENOME SEQUENCING WILL BE CONDUCTED WITH PARTICIPANTS' SAMPLES, AND THE DEIDENTIFIED DATASET WILL BE MADE AVAILABLE FOR FREE TO ALL QUALIFIED RESEARCHERS WORLDWIDE, FUELING NOT JUST ONE RESEARCH STUDY BUT MANY. IN 2021, EFFORTS INCLUDED BUILDING THE REGISTRY, AS WELL AS DEVELOPING THE PATIENT AND FAMILY RECRUITMENT MESSAGING AND MATERIALS.
SINGLE VENTRICLE SPEAKER SERIES - RESPONDING TO A NEED TO PROVIDE A FORUM FOR SINGLE VENTRICLE FOCUSED INVESTIGATORS ACROSS BASIC SCIENCE, TISSUE ENGINEERING, CLINICAL CARE, AND GENOMICS, THE FOUNDATION DEVELOPED A BIWEEKLY VIRTUAL SEMINAR SERIES. EACH SESSION ADDRESSED ONGOING RESEARCH EFFORTS IN KEY KNOWLEDGE GAP AREAS IDENTIFIED IN THE ORGANIZATION'S RESEARCH ROADMAP, WITH PRESENTERS SPANNING EARLY CAREER TO SENIOR INVESTIGATORS, AND TOPICS INCLUDING SINGLE VENTRICLE ETIOLOGY, BIOLOGY OF OUTCOMES, CLINICAL SEQUELAE AND FUNCTION CURES. IN 2021, THERE WERE 130 MULTI-DISCIPLINARY RESEARCHERS.
SINGLE VENTRICLE INVESTIGATORS MEETING - ADDITIONAL VENTURES HELD ITS FIRST ANNUAL SINGLE VENTRICLE INVESTIGATORS MEETING (SVIM) MARCH 9-10, 2021 WITH 300 VIRTUAL ATTENDEES. THIS WAS THE LARGEST EVENT OF ITS KIND FOR THE SINGLE VENTRICLE RESEARCH COMMUNITY, FEATURING 70 SPEAKERS ACROSS MULTIPLE DISCIPLINES INCLUDING BASIC SCIENCE, CLINICAL CARE, ENGINEERING AND TRANSLATIONAL MEDICINE. PRESENTATIONS ADDRESSED FOUR KEY AREAS OF SINGLE VENTRICLE RESEARCH: ETIOLOGY MECHANISMS AND MODELS; PREDICTING, PREVENTING AND ADDRESSING CLINICAL SEQUELAE; BIOLOGY OF OUTCOMES; AND THE DEVELOPMENT OF FUNCTIONAL CURES. PLANNING FOR THE SECOND ANNUAL CONFERENCE AND FIRST IN-PERSON CONFERENCE, SVIM 2022 BEGAN IN 2021 WITH ANTICIPATED ATTENDANCE OF 150 ATTENDEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirstie Keller Vice President Of Pr | 40 | $231,246 | |
Diane Pickles Program Director, Pr | 40 | $181,860 | |
Kaitlin Davis Program Manager, Res | 40 | $94,364 | |
Courtney Steger Program Officer, Sci | 40 | $45,653 | |
Erin Hoffmann President/chairman/director | 6 | $0 | |
Michael Schroepfer Cfo/director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Iconiq Capital Llc | 12/30/21 | $942,368 |
The Broad Institute | 12/30/21 | $363,000 |
Springer Nature America Inc | 12/30/21 | $90,000 |
Smart Research Group | 12/30/21 | $69,680 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $23,553,033 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,873,289 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,478,858 |
| Capital Gain Net Income | $16,358,934 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $494,820 |
| Total Revenue | $30,400,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $587,330 |
| Pension plans, employee benefits | $119,526 |
| Interest | $0 |
| Taxes | $739,654 |
| Depreciation | $1,495 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $23,746 |
| Printing and publications | $0 |
| Other expenses | $185,974 |
| Total operating and administrative expenses | $3,504,274 |
| Contributions, gifts, grants paid | $21,346,368 |
| Total expenses and disbursements | $24,850,642 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,365,560 |
| Net Accounts receivable | $2,341 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $63,374,349 |
| Net Land, buildings, and equipment | $5,429 |
| Other assets | $0 |
| Total assets | $212,172,958 |
| Accounts payable and accrued expenses | $78,238 |
| Grants payable | $18,173,140 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $733,000 |
| Total liabilities | $18,984,378 |
Grants Awarded
Over the last fiscal year, Additonal Ventures Foundation has awarded $23,491,014 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
San Francisco, CA PURPOSE: INNOVATION AWARD | $1,200,000 |
BOSTON CHILDREN'S HOSPITAL PURPOSE: CREATION OF FORCE REGISTRY WITHIN DEPARTMENT OF CARDIOLOGY | $1,078,192 |
UNIVERSITY OF OXFORD PURPOSE: SINGLE VENTRICLE RESEARCH FUND | $685,932 |
DUKE UNIVERSITY PURPOSE: SINGLE VENTRICLE RESEARCH FUND | $660,000 |
New York, NY PURPOSE: SINGLE VENTRICLE RESEARCH FUND | $660,000 |
Atlanta, GA PURPOSE: SINGLE VENTRICLE RESEARCH FUND | $660,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kavli Foundation Los Angeles, CA | $672,190,947 | $63,900,227 |
Oprah Winfrey Charitable Foundation Los Angeles, CA | $244,908,730 | $15,499,605 |
Reed Family Giving Palo Alto, CA | $0 | $1,785,630 |
Perenchio Foundation Pasadena, CA | $23,143,013 | $16,139,490 |
Elbridge Stuart Foundation San Francisco, CA | $0 | $50,927,983 |
Chamberlin Family Foundation Richmond, CA | $3,805,906 | $611,005 |
May And Stanley Smith Charitable Trust Corte Madera, CA | $490,127,774 | $29,599,485 |
Diane And Bruce Halle Foundation Scottsdale, AZ | $130,264 | $31,307,586 |
Cyrus Tang Foundation Las Vegas, NV | $882,448,132 | $23,435,848 |
Scully Memorial Foundation San Rafael, CA | $838,174,417 | $32,779,151 |
Kate B Reynolds Charitable Trust Las Vegas, NV | $458,547,474 | $24,205,244 |
Windsong Tr Manhattan Beach, CA | $426,534,426 | $49,190,132 |