Michelson Medical Research Foundation Inc
- Assets
- $153.6m
- Revenue
- $21.4m
- Investments
- $123.0m
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 01/1996
- Data as of
- 12/2020
- EIN
- 95-4551615
Organization Overview
Michelson Medical Research Foundation Inc is located in Los Angeles, CA. The organization was established in 1996. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Michelson Medical 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 12/2020, Michelson Medical Research Foundation Inc generated $21.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $12.0m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Michelson Medical Research Foundation Inc has awarded 18 individual grants totaling $35,919,475. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Karlin Michelson M D Director, President | 1 | $0 | |
David Cohen Secretary/cfo | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Charles Schwab & Co Inc | 12/30/21 | $71,049 |
Holthouse Carlin & Van Trigt Llp | 12/30/21 | $56,443 |
American Association For The Advancement | 12/30/21 | $207,549 |
Gibson Dunn & Crutcher Llp | 12/30/21 | $67,411 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $19,715,054 |
| Interest on Savings | $66 |
| Dividends & Interest | $2,366,118 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$723,188 |
| Capital Gain Net Income | $7,276,272 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $21,358,050 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $266,113 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,007 |
| Total operating and administrative expenses | $446,528 |
| Contributions, gifts, grants paid | $11,583,049 |
| Total expenses and disbursements | $12,029,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $30,506,034 |
| Net Accounts receivable | $0 |
| 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 | $88,045 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $61,691,864 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $31,088 |
| Total assets | $153,609,395 |
| Accounts payable and accrued expenses | $13,991 |
| Grants payable | $0 |
| Deferred revenue | $16,990 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $195,884 |
| Total liabilities | $226,865 |
Grants Awarded
Over the last fiscal year, Michelson Medical Research Foundation Inc has awarded $11,293,449 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Los Angeles, CA PURPOSE: BENEFIT OF ANIMALS THROUGH MULTIPLE ANIMAL WELFARE PROGRAMS, INCLUDING THE MICHELSON PRIZE AND GRANTS IN REPRODUCTIVE BIOLOGY, THE MICROCHIPPING PROGRAM, THE ADOPTION PROGRAM, THE START-UP ACCELERATOR PROGRAM, THE SPAY/NEUTER PROGRAM AND OTHERS TOWARD THE MICHELSON FOUND ANIMALS FOUNDATION, INC.'S PURPOSE OF REDUCING EUTHANASIA RATES IN LOS ANGELES AREA ANIMAL SHELTERS. | $9,000,000 |
Los Angeles, CA PURPOSE: CARRY FORTH MULTIPLE EDUCATIONAL PROGRAMS, INCLUDING EDUCATIONAL AND SUCCESS PROGRAMS, FUTURE OF WORK AND WORKFORCE DEVELOPMENT PROGRAMS, SMART JUSTICE PROGRAMS, PROGRAMS TO INCREASE EDUCATIONAL AWARENESS ON TOPICS RELATED TO INTELLECTUAL PROPERTY, AND PROGRAMS INTENDED TO SUPPORT PRIVATE-SECTOR SOLUTIONS TO ISSUE WITHIN THE EDUCATION SECTOR. | $1,850,000 |
Los Angeles, CA PURPOSE: CULTIVATE THE BOUNDLESS POTENTIAL OF HIGHLY GIFTED CHILDREN, NURTURE THEIR PASSIONS AND TALENTS, AND DEVELOP A DIVERSE COMMUNITY OF CREATIVE AND CONSTRUCTIVE LIFELONG LEARNERS. | $250,000 |
Santa Monica, CA PURPOSE: TO ADVANCE SOLUTIONS THAT WIDEN ACCESS TO CAPITAL, CREATE JOBS AND IMPROVE HEALTH. | $75,000 |
New York, NY PURPOSE: TO ACCELERATE VACCINE AND IMMUNOTHERAPY DEVELOPMENT FOR INFECTIOUS AND NON-COMMUNICABLE DISEASES. | $65,949 |
PEACE ISLAND CHILDRENS CENTER INC PURPOSE: INSTALLATION OF A WATER SYSTEM FOR SOWE ISLAND | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stupski Foundation San Francisco, CA | $0 | $134,835,311 |
Wayne & Gladys Valley Charitable Foundation Oakland, CA | $270,742,115 | $3,705,667 |
The Marisla Foundation Laguna Beach, CA | $26,534,095 | $36,043,209 |
Craig H Neilsen Foundation Encino, CA | $489,570,251 | $30,946,732 |
Prostate Cancer Foundation Santa Monica, CA | $62,542,873 | $53,016,750 |
L K Whittier Foundation Pasadena, CA | $0 | $1,423,590 |
Sunlight Giving Palo Alto, CA | $510,624,261 | $22,845,227 |
Ralph M Parsons Foundation Los Angeles, CA | $469,540,445 | $59,827,202 |
Aramont Charitable Foundation Los Angeles, CA | $20,309,665 | $851,850 |
Capital Group Companies Charitable Foundation Irvine, CA | $396,511,503 | $49,953,906 |
Vera R Campbell Foundation Los Angeles, CA | $7,174,886 | $467,590 |
Resnick Foundation Los Angeles, CA | $16,158,618 | $25,090,034 |