Broad Institute Inc
- Assets
- $2.7b
- Revenue
- $860.4m
- Investments
- $1.0b
- Employees
- 2,729
- Location
- Cambridge, MA
- Founding
- 02/2009
- Data as of
- 06/2023
- EIN
- 26-3428781
Organization Overview
Broad Institute Inc is located in Cambridge, MA. The organization was established in 2009. According to its NTEE Classification (H20) the organization is classified as: Birth Defects & Genetic Diseases Research, under the broad grouping of Medical Research and related organizations. As of 06/2023, Broad Institute Inc employed 2,729 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Broad Institute 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 06/2023, Broad Institute Inc generated $860.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $730.5m during the year ending 06/2023. While expenses have increased by 7.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Broad Institute Inc has awarded 643 individual grants totaling $429,003,943. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Golub Institute Director | OfficerTrustee | 60 | $817,744 |
Stacey Gabriel Chief Genomics Officer | Officer | 60 | $677,438 |
Jesse Souweine Chief Operating Officer | Officer | 60 | $606,831 |
Morgan Sheng Core Institute Member | 60 | $589,146 | |
Dan Shore Cfo/treasurer | Officer | 60 | $440,845 |
Heather Jankins See Schedule O | 60 | $440,373 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Emc Corporation It Support Services | 6/29/23 | $7,722,250 |
Harba Solutions Inc Temp Agency | 6/29/23 | $5,256,740 |
Structure Tone Llc Construction | 6/29/23 | $6,089,353 |
Johnson Marcou Isaacs Llc Legal | 6/29/23 | $5,478,794 |
Huron Consulting Group Llc Business Consulting | 6/29/23 | $8,141,038 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $59,877,532 |
| Government grants | $206,015,361 |
| All other contributions, gifts, grants, and similar amounts not included above | $428,367,258 |
| Noncash contributions included in lines 1a–1f | $61,398,966 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $694,260,151 |
| Total Program Service Revenue | $81,122,857 |
| Investment income | $26,742,059 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $33,549,192 |
| Net Rental Income | $149,351 |
| Net Gain/Loss on Asset Sales | $24,526,961 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $860,350,571 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $73,718,759 |
| Grants and other assistance to domestic individuals. | $3,604,702 |
| Grants and other assistance to Foreign Orgs/Individuals | $11,236,969 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,015,308 |
| Compensation of current officers, directors, key employees. | $2,136,258 |
| Compensation to disqualified persons | $150,000 |
| Other salaries and wages | $238,362,044 |
| Pension plan accruals and contributions | $20,428,163 |
| Other employee benefits | $32,203,083 |
| Payroll taxes | $16,814,042 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,087,724 |
| Fees for services: Accounting | $397,939 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,111,612 |
| Fees for services: Other | $36,497,262 |
| Advertising and promotion | $955,349 |
| Office expenses | $1,328,843 |
| Information technology | $56,701,832 |
| Royalties | $0 |
| Occupancy | $43,356,374 |
| Travel | $3,514,880 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,810,507 |
| Interest | $15,242,683 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,921,781 |
| Insurance | $2,393,727 |
| All other expenses | $0 |
| Total functional expenses | $730,483,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,530,912 |
| Savings and temporary cash investments | $427,701,997 |
| Pledges and grants receivable | $178,720,921 |
| Accounts receivable, net | $97,779,586 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,037,932 |
| Inventories for sale or use | $18,206,655 |
| Prepaid expenses and deferred charges | $29,388,134 |
| Net Land, buildings, and equipment | $464,122,805 |
| Investments—publicly traded securities | $366,113,374 |
| Investments—other securities | $1,016,544,639 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,185,225 |
| Total assets | $2,674,332,180 |
| Accounts payable and accrued expenses | $143,038,328 |
| Grants payable | $0 |
| Deferred revenue | $113,038,112 |
| Tax-exempt bond liabilities | $236,354,379 |
| Escrow or custodial account liability | $10,462,998 |
| 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 | $133,792,554 |
| Total liabilities | $636,686,371 |
| Net assets without donor restrictions | $718,446,984 |
| Net assets with donor restrictions | $1,319,198,825 |
| 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 | $2,674,332,180 |
Grants Awarded
Over the last fiscal year, Broad Institute Inc has awarded $73,502,171 in support to 89 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION INC PURPOSE: PROGRAM SUPPORT | $168,730 |
3 POINT BIO LLC PURPOSE: PROGRAM SUPPORT | $814,244 |
ASYMMETRIK LTD PURPOSE: PROGRAM SUPPORT | $201,350 |
BENAROYA RESEARCH AT VIRGINIA MASON PURPOSE: PROGRAM SUPPORT | $300,000 |
BOSTON COLLEGE PURPOSE: PROGRAM SUPPORT | $25,000 |
BETH ISRAEL DEACONESS MEDICAL CTR PURPOSE: PROGRAM SUPPORT | $1,560,152 |