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Salk Institute for Biological Studies

CharityWatch report issued
July 2017

Top-Rated Charity
A
CharityWatch Grade
Our independent grade based
on a number of factors.
 
85%
Program Percentage
Amount spent on programs
relative to overhead.
 
$8
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Salk Institute for Biological Studies
10010 N Torrey Pines Road
La Jolla, CA 92037

Other Names

None

Tax Status

501(c)3

Website

www.salk.edu

Stated Mission

The advancement & dissemination of knowledge relevant to the health & well-being of man. Performs research & advanced instruction in biology; the cause, prevention & cure of diseases; and the factors & circumstances conducive to the fulfillment of man's biological potential.

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Data based on Fiscal Year Ended 06/30/2016

Program Percentage: 85%

The percentage of Salk Institute for Biological Studies's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$116,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $8

How many dollars Salk Institute for Biological Studies spends on fundraising to raise each $100 of contributions.

$53,000,000

Calculated Total Contributions

(rounded)

Government Funding

25% to 49%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
The Salk Institute for Biological Studies Audited Financial Statements 95-2160097
The Salk Institute for Biological Studies IRS Form 990 95-2160097
Entity: The Salk Institute for Biological Studies
Document Type: Audited Financial Statements
Tax ID: 95-2160097
Entity: The Salk Institute for Biological Studies
Document Type: IRS Form 990
Tax ID: 95-2160097

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
Salk Institute for Biological Studies
meets governance benchmarks.
 
Salk Institute for Biological Studies
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy No Sharing  

  Name Title Compensation
1 William R. Brody, M.D. Past President $1,004,258
2 Marsha A. Chandler Executive VP/COO $578,126
3 Kim E. Witmer Senior VP/CFO $453,988
1
Name: William R. Brody, M.D.
Title: Past President
Compensation: $1,004,258
2
Name: Marsha A. Chandler
Title: Executive VP/COO
Compensation: $578,126
3
Name: Kim E. Witmer
Title: Senior VP/CFO
Compensation: $453,988

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.
According to the Salk Institute for Biological Studies (the Institute) audit of June 30, 2016 (Note 11, Concentrations of Credit Risk):

"The Institute receives funds under various research grants from federal and non-federal agencies. Funding from the National Institutes of Health represents approximately 51 percent and 53 percent of total grant revenue for the years ended June 30, 2016 and 2015, respectively."
According to The Salk Institute for Biological Studies (the Institute) audit of June 30, 2016 (Note 12, Related Party):

"In May 2006, the Institute and three other research institutions formed the San Diego Consortium for Regenerative Medicine, subsequently renamed Sanford Consortium for Regenerative Medicine ('SCRM') and joined by a fifth research institution. SCRM was formed to coordinate the institutions' resources, personnel, and programs for scientific research and education in the field of stem cell research and related fields. The nine-member board of SCRM includes a member of the Institute's Board and the Institute's President/Chief Executive Officer."

"In October 2009, the consortium members and SCRM executed an agreement (the 'Collaboratory Agreement') in which SCRM grants the members a non-exclusive license to use space for stem cell research in SCRM's research facility, which was ready for occupancy on January 1, 2012. The initial term of the Collaboratory Agreement is 10 years with options to extend. Under the agreement, the members agree to pay a license fee equal to each member's allocable share of licensed space debt service and operating expenses. The Institute's license fee and operating expenses for the use of three modules in SCRM's building are expected to be $191 and $238 per year [$s in thousands], respectively, with increases or decreases to the amounts each year based on actual expenses..."
According to The Salk Institute for Biological Studies audit of June 30, 2016 (Note 10):

"Commitments -- At June 30, 2016, contractual commitments on construction and purchases pending or in process are $10,200 [$s in thousands]."
According to The Salk Institute for Biological Studies tax filing for the fiscal year ended June 30, 2016, the Institute reports for Loans to and/or from Interested Persons a "home loan" made by the Institute to two professors in the amounts of $168,000 and $100,000, with each loan having that same amount, respectively, for the balance due at June 30, 2016. It is also reported that the board or a committee approved the loans, there are written agreements for the loans, and the loans are not in default (IRS Form 990, Schedule L, Part II).

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