Licr Fund Inc
- Assets
- $1.7b
- Revenue
- $69.3m
- Investments
- $1.7b
- Employees
- 0
- Location
- New York, NY
- Founding
- 11/1990
- Data as of
- 12/2022
- EIN
- 13-3573053
Organization Overview
Licr Fund Inc is located in New York, NY. The organization was established in 1990. According to its NTEE Classification (H11) the organization is classified as: Single Organization Support, 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. Licr Fund 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 12/2022, Licr Fund Inc generated $69.3m 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 (8.0%) each year. All expenses for the organization totaled $83.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LICR FUND, INC. IS A SUPPORTING ORGANIZATION OF THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD.
Describe the Organization's Program Activity:
LICR FUND, INC. ("THE FUND") IS A NON-PROFIT DELAWARE CORPORATION THAT HOLDS A DIVERSIFIED PORTFOLIO OF INVESTMENTS FROM WHICH IT PROVIDES ANNUAL SUPPORT TO THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD ("THE INSTITUTE"). THE INSTITUTE IS EXEMPT UNDER IRC SECTION 501(C)(3) AND IS NOT A PRIVATE FOUNDATION BECAUSE IT IS A MEDICAL RESEARCH ORGANIZATION, DESCRIBED IN IRC SECTION 170(B)(1)(A)(III), ENGAGED IN MEDICAL RESEARCH INTO THE CAUSES AND CURE OF CANCER IN CONJUNCTION WITH QUALIFIED HOSPITALS. IN 2022 THE FUND PROVIDED GRANTS AND OTHER ASSISTANCE DIRECTLY TO THE INSTITUTE IN THE AMOUNT OF $76,000,000 TO SUPPORT THE INSTITUTE'S MEDICAL RESEARCH ACTIVITIES, INCLUDING LABORATORY RESEARCH AND CLINICAL TRIALS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Xing Chen President, Cio | Officer | 39 | $0 |
Dr Chi Van Dang Director | Trustee | 2 | $0 |
Edward A Mcdermott Jr Director | Trustee | 2 | $0 |
Avantika Patel Vice President | Officer | 40 | $0 |
Christopher T Conroy Treasurer | Officer | 28 | $0 |
Alexander Borissov Secretary | Officer | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tb Alternative Assets Portfolio Manager | 12/30/22 | $371,835 |
Silchester Int'l Advisors Ltd Portfolio Manager | 12/30/22 | $304,820 |
The Ludwig Group Inc Administrative Svcs | 12/30/22 | $4,382,284 |
Burgundy Asset Management Portfolio Manager | 12/30/22 | $214,707 |
Interactive Brokers Llc Portfolio Manager | 12/30/22 | $200,071 |
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 | $47,191 |
| Noncash contributions included in lines 1a–1f | $35,696 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,191 |
| Total Program Service Revenue | $0 |
| Investment income | $2,295,281 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $66,972,209 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $69,314,681 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $76,000,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $245,000 |
| Compensation of current officers, directors, key employees. | $245,000 |
| 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 | $4,342,284 |
| Fees for services: Legal | $374,788 |
| Fees for services: Accounting | $299,406 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,260,690 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $168 |
| Information technology | $111,087 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $110,751 |
| 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 | $0 |
| Insurance | $55,793 |
| All other expenses | $0 |
| Total functional expenses | $83,766,381 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $35,177,593 |
| 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 | $0 |
| Investments—other securities | $1,683,828,359 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $883,267 |
| Total assets | $1,719,889,219 |
| Accounts payable and accrued expenses | $1,632,803 |
| 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 | $1,632,803 |
| Net assets without donor restrictions | $1,718,256,416 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,719,889,219 |